Crypto Wallets

The Growing Importance of Self-Custody in the Crypto Space

Friday. January 17 at 4:00 AM

1 min. read

Self-custody empowers users by providing direct control over their assets through managing private keys, reducing reliance on third-party custodians. This trend is driven by the desire for financial independence and security, especially after high-profile collapses like FTX. Technological advancements, such as user-friendly wallets and enhanced security solutions, are making self-custody more accessible to a wider audience. Regulatory pressures on centralized platforms have also pushed users towards self-custody for increased security and privacy. The rise of self-custody solutions is seen as a foundational principle in the next wave of crypto adoption. Ledger, a prominent hardware wallet provider, has witnessed a surge in demand for self-custody tools due to events like exchange failures. With regulatory changes emphasizing the importance of individual control over digital assets, self-custody is becoming a key driver of growth in the crypto market.

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Malicious Software Scans for Crypto Wallet Recovery Phrases

Wednesday. February 5 at 9:00 AM

Cybersecurity firm Kaspersky Labs reported that malicious software development kits on Google's Play Store and Apple's App Store are scanning users' images to locate crypto wallet recovery phrases for fund theft. The malware, SparkCat, searches for specific keywords in various languages through optical character recognition to steal recovery phrases and other personal data from the gallery. Kaspersky advises against storing sensitive information in screenshots and recommends using a password manager. The malware, downloaded approximately 242,000 times, targets Android and iOS users in Europe and Asia. It is present in numerous apps across both app stores, utilizing the Rust language, cross-platform capability, and obfuscation for evasion. The malware's origin remains unclear, with similarities to a 2023 campaign discovered by ESET researchers. Google and Apple have not commented on the issue.

Crypto Wallets

Innovative Best Wallet Raises $8.7M in Presale

Saturday. February 1 at 7:00 AM

Best Wallet ($BEST) has successfully raised $8.7 million in its presale, demonstrating strong investor confidence in its future potential. The funding highlights the increasing demand for a secure and user-friendly Web3 wallet. With features like multi-chain support and low transaction costs, Best Wallet has attracted 250,000 monthly active users and a total user base of 500,000. Early investors can purchase $BEST at $0.0238 before the next price increase. The wallet distinguishes itself by offering advanced features such as direct multi-chain support and cost-effective asset transfers. Additionally, it provides a rewarding staking program with a 200% APY. Best Wallet's roadmap includes integrating new blockchains, enhancing security, and expanding staking options, positioning it as a promising project in the Web3 space. The platform's user-friendly interface, support for multiple blockchains, and upcoming mobile app make it a convenient choice for crypto enthusiasts.

Crypto Wallets

Kraken Resumes Staking Services for US Clients After SEC Settlement

Friday. January 31 at 11:00 AM

Kraken, a crypto exchange, has restarted staking services for US customers after nearly two years. Staking was halted in 2023 due to a multimillion-dollar settlement with the SEC. Customers in 37 states can now stake 17 digital assets, including Ether, Solana, and Cardano. Kraken was one of the first exchanges to offer staking in 2019 but ceased in 2023 as part of the settlement. The return of staking signals a better regulatory environment under new SEC leadership. The SEC had accused Kraken of violating securities laws by not registering its staking service and providing inadequate risk disclosure. Despite settling, the SEC later sued Kraken for operating as an unregistered securities broker. Judge Orrick dismissed Kraken's defense against SEC regulation but allowed for it to be raised later in the lawsuit. The legal battle between Kraken and the SEC continues.

Crypto Wallets

Cardano's Lace Wallet Update and Future Developments

Friday. January 31 at 10:00 AM

Cardano founder Charles Hoskinson provided a detailed update on the Lace wallet during a livestream on January 29. The latest version, 1.19, showcases faster release cycles and upcoming features like Firefox and Bitcoin integration. Hoskinson praised the team's operational changes for the accelerated product releases. The new Lace version introduces a dapp Explorer to enhance user interaction with Cardano-based decentralized applications. Other improvements include PGP-encrypted paper wallets for enhanced security and Nami mode for familiar wallet features. The update also includes multisig capabilities and support for multi-stake pool delegation, expanding Cardano's DeFi tools. A mobile app is in development to complement the desktop version seamlessly. Hoskinson highlighted upcoming governance features like the Plomin hard fork and innovations such as advanced oracles and stablecoin frameworks. He expressed optimism for Cardano's future growth and consumer-friendly ecosystem. ADA was trading at $0.9155 at the time of the update.

Crypto Wallets