DApps

Rise in Malicious DApps Using Inferno Drainer Tool

Thursday. August 29 at 7:00 PM

1 min. read

The number of decentralized applications (DApps) utilizing the Inferno Drainer tool has tripled as scammers intensify their efforts to steal cryptocurrency. Blockaid, a Web3 security firm, reported a surge in new Inferno Drainer DApps, reaching 40,000 by July 2024. Oz Tamir from Blockaid noted the threefold increase in malicious DApps employing the tool. These malicious DApps, designed for crypto phishing, deceive users into approving token access, enabling scammers to pilfer funds. Despite claims of shutdown in 2023 after stealing $70 million, the Inferno Drainer resurfaced and remains active. Tamir downplays the tool's sophistication, attributing its prevalence to scammers' adaptability. The rise in malicious activities aligns with a spike in scam attempts and the bullish crypto market. Attackers exploit new chains with weaker security, viewing them as lucrative targets. The trend underscores the ongoing battle against crypto scams.

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Meta's AI Video Editor Revolutionizes Instagram

Saturday. December 21 at 1:00 AM

Meta is set to introduce its AI video editing capabilities to Instagram, allowing users to manipulate their videos using text prompts. The new features, including Movie Gen, enable users to change backgrounds, outfits, and other elements seamlessly. Instagram head Adam Mosseri showcased the technology in a video, demonstrating how users can transform their appearance and surroundings with ease. Meta's Movie Gen AI model, announced a few months ago, has already shown impressive results, surpassing other models in quality and efficiency. The tool not only generates new videos but also allows for specific alterations within existing ones. This move by Meta brings cutting-edge video editing directly to Instagram users, competing with similar tools from other tech giants. The launch date for this innovative feature is expected in 2024, promising a new era of creative possibilities on the platform.

DApps

Ethereum's Changing Role in the Crypto Ecosystem

Saturday. December 14 at 4:00 PM

Binance Research's report, 'The ETH Value Debate,' examines Ethereum's evolving position in the cryptocurrency market. While acknowledging its foundational role in blockchain innovation, the report highlights increased competition and market changes. Positive developments for Ethereum in 2024 include the Dencun update to reduce fees and the approval of Ethereum ETFs in the US. Despite these advancements, Ethereum's market dominance has decreased to 13.1%, reflecting industry competition. The report emphasizes the challenges Ethereum faces post-Dencun upgrade, with revenue dropping 99% due to Layer-2 solutions. The launch of Spot ETH ETFs saw limited interest initially but gained momentum post-US election. Ethereum's trading volumes and search interest have remained stagnant compared to competitors like Solana. The debate on Ethereum's future focuses on scaling through Layer-2 solutions or maximizing Layer-1 capabilities. Binance Research suggests a clear mission statement is crucial for Ethereum's success amidst market uncertainty.

DApps

ChatGPT Downtime After Apple Integration

Thursday. December 12 at 9:00 AM

ChatGPT faced an outage after integrating with Apple's Siri, causing disruptions for users. The incident, likened to a disturbance in the force, surprised many, with OpenAI acknowledging the issue and working on a fix. The downtime, starting at 6:17 pm EST, affected API calls and platform access. Despite efforts to resolve the problem, ChatGPT and Sora AI remained offline. This outage follows previous incidents in November and December, lasting around one and a half hours each. Users expressed frustration over the disruption, highlighting the reliance on ChatGPT for various tasks. OpenAI and Apple have yet to provide detailed comments on the situation, leaving users awaiting updates on the restoration of services.

DApps

Revolutionizing Blockchain Adoption with Morph's Mainnet Launch

Wednesday. October 30 at 8:00 PM

Morph, a global consumer layer driving blockchain adoption, has announced its mainnet launch on Ethereum. This launch signifies a significant step in expanding Morph's consumer layer beyond a typical Layer 2, addressing the root causes of limited blockchain adoption. Cecilia Hsueh, CEO of Morph, emphasized the goal of making blockchain more accessible to everyday users. The mainnet offers scalability, security, and user-friendliness, aiming to revolutionize the blockchain industry. Morph's approach focuses on providing builders with essential resources like funding and go-to-market strategies to ensure widespread adoption. The recent Centralized Exchange Coalition initiative further supports builders in bringing their projects to market. With a hybrid solution of ZK and Optimistic roll-up technology, Morph aims to empower developers to create consumer-centric decentralized applications. Bitget, a leading cryptocurrency exchange, is among the investors shaping the Morph ecosystem.

DApps