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- Teenagers Steal $4.2 Million by Impersonating Coinbase
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A Web 3.0 newsletter covering the latest news that matters.
What’s in today’s cooler:
Teens Steal $4.2 Million by Impersonating Coinbase Support
Centralized Blockchain is Helping US Fed & Banks
Best Thing I Saw All Week - NO FOMO
More On Tap News
Teens Steal $4.2 Million by Impersonating Coinbase Support
Two teenagers from Hamilton, Canada are being arrested and charged with a multi-million dollar crypto scam.
The 17 year olds are being charged for theft and possession of unlawfully acquired property. They performed “spear phishing”, a type of targeted attack on specific users and individuals. With this tactic, the teens manipulated a US resident into giving them access to his crypto portfolio. From gaining access to his account they stole $4.2 million in Bitcoin and Ethereum.
This investigation kicked off last month, May 2023. It was lead by the FBI and the United States Secret Service Electronic Crimes Task Force.
Some serious agencies are on this case…
As they should be, no one is getting away with $4.2 million stolen. Also reported the two teens had $13.4 million total worth of crypto.
Wonder where they got the rest of that money from.
Read More About it Here.
Centralized Blockchain is Helping US Fed & Banks
The majors banks and the New York Federal Reserve have conducted a 3 month long experiment with centralized blockchain payments.
They used a regulated liability network, RLN, as proof of concept. Also stating, “… a theoretical payment infrastructure designed to support the exchange and settlement of regulated digital assets using distributed ledger technology.”
The top banks included in this concept include, Citi, BNY Mellon, Wells Fargo, HSBC and Mastercard. The financial telecommunication service provider Swift helped support, interoperability across the international financial ecosystem. Not to be confused with Bitcoin and Ethereum which are decentralized.
“The NYIC has not committed to any future phases of work connected to this proof of concept. The findings highlight areas for future research and analysis of potential enhancements to critical payment infrastructures supporting the functioning of the global economy.”
Read a similar story of Goldman Sachs’ blockchain network Here.
Best Thing I Saw All Week
Every person who has ever Dollar Cost Averaged into Bitcoin is now in profit. This is a serious mark and shows just how good DCA’ing can be, if your a simple investor.
Just a reminder that every single pleb who has been dollar cost averaging #bitcoin is now in profit no matter when they first started DCA'ing. Every single one of them!
— Wicked (@w_s_bitcoin)
7:05 PM • Jul 3, 2023
On Tap News
Binance Labs Funds AI Blockchain Data Firm Web3Go - Could this be the first Crypto/AI crossover!
BlackRock Wants to Make it Cheaper to Trade Bitcoin - Do they even know what they are talking about right now?
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Disclaimer: The information shared in this newsletter is for informational purposes only and should not be considered financial advice. It is crucial to conduct independent research and consult with a financial advisor before making any investment decisions.
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