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Journeys: Robby Yung on Animoca’s Web3 investments, TON and the Mocaverse

Coin Telegraph
Journeys: Robby Yung on Animoca’s Web3 investments, TON and the Mocaverse
Coin Telegraph

Animoca CEO Robby Yung talks about his firm’s impressive investment portfolio and how he got into the Web3 industry.

The word Animoca doesnt exactly slip off the tongue when speaking English. Is it Japanese? Is it a type of sweet snack? Is it even a trendy type of coffee?

According to Robby Yung, the London-based CEO of Web3 investment behemoth Animoca Brands, it is neither of these things but rather a portmanteau that connects animation and mobile communication.

That means a focus on games and creating a Web3 environment that Animoca clearly wants to dominate. Whatever it means to outsiders, and however it sounds, it probably makes no difference to the company.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

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Are there ‘too many’ blockchains for gaming? Sui’s randomness feature: Web3 Gamer

Coin Telegraph
Are there ‘too many’ blockchains for gaming? Sui’s randomness feature: Web3 Gamer
Coin Telegraph

Too many blockchains and less funding for the industry? Plus, Sui’s randomness feature for gaming developers: Web3 Gamer

The number of blockchains out there is becoming a problem for blockchain gaming, according to a Web3 gaming executive.

According to Sebastien Borget, co-founder of The Sandbox and president of the Blockchain Game Alliance, the vast number of blockchains means that users are spread out across many different networks, with no single one boasting a large user base.

Too many blockchains is one of the biggest challenges in the industry, Borget tells Web3 Gamer. 

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

$12.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express

Coin Telegraph
.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
Asia Express

A brand new facial reconstruction can’t hide crypto scammer, crypto scam boiler rooms in Malaysia and the Philippines busted: Asia Express

Our weekly roundup of news from Asia curates the industrys most important developments.

South Korean police have apprehended 14 individuals involved in a fraudulent crypto mining scheme that pocketed 16 billion Korean won (about $12.1 million), according to reports citing an Aug. 29 press conference.

Police identified the scheme’s mastermind only as “Mr. A,” (a common practice for suspects before official conviction.) From November 2021 to June 2022, Mr. A allegedly deceived victims by promising an 18% monthly return on investments in the fake crypto mining business.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Crypto-Sec: DeFi Saver ownership phish, iVest shuts down after attack, plus hackathon clipboard hijack

Coin Telegraph
Crypto-Sec: DeFi Saver ownership phish, iVest shuts down after attack, plus hackathon clipboard hijack
Coin Telegraph

A DeFi Saver user fell victim to a novel phishing attack, and a clipboard hijacker discovered at hackathon, plus new windows vulnerability

Crypto scams, hacks and exploits and how to avoid them: Crypto-Sec

A user of decentralized finance management protocol DeFi Saver suffered an unusual style of phishing attack on Aug. 21. According to an X post from blockchain security firm Global Ledger, the attacker tricked the user into reassigning ownership of their DeFi Saver Proxy contract.

The victim reportedly attempted to perform a transaction soon afterward, but it failed. The attacker then changed ownership again and drained the smart contract wallet of all of its Dai (DAI) stablecoin, removing over $55 million worth in total.

Blockchain data shows that the DAI came from the null address rather than from the victims address, implying that the attacker must have minted the DAI using the victims collateral instead of directly draining it from the victims account. 

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express

Coin Telegraph
Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express
Asia Express

Malaysia gets out the steamroller as Bitcoin mining stolen electricity issue worsens, Korea’s new ‘exchange closure’ scam. Asia Express

Our weekly roundup of news from Asia curates the industrys most important developments.

Southeast Asia became a Bitcoin mining hotspot after the great China crackdown of 2021. Now authorities in various regions are battling a huge surge in electricity theft used to fuel these mining activities.

This week Malaysian authorities arrested seven individuals suspected of illegally mining Bitcoin using stolen electricity, according to state media outlet Bernama.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

AI drone ‘hellscape’ plan for Taiwan, LLMs too dumb to destroy humanity: AI Eye

Coin Telegraph
AI drone ‘hellscape’ plan for Taiwan, LLMs too dumb to destroy humanity: AI Eye
AI Eye

Skyfire launches crypto payments network for AI agents, Trump deepfakes ‘just memes,’ drone swarms to be unleashed on China: AI Eye.

The US army plans to combat a Chinese invasion of Taiwan by flooding the narrow Taiwan Strait with swarms of thousands and thousands of autonomous drones.

I want to turn the Taiwan Strait into an unmanned hellscape using a number of classified capabilities so that I can make their lives utterly miserable for a month, which buys me the time for the rest of everything, US Indo-Pacific Command chief Navy Admiral Samuel Paparo told the Washington Post.

The drones are intended to confuse enemy aircraft, provide targeting for missiles to knock out warships and generally create chaos. The Ukrainians have been pioneering the use of drones in warfare, destroying 26 Russian vessels and forcing the Black Sea Fleet to retreat. 

Ironically, most of the parts in Ukraines drones are sourced from China, and there are doubts over whether America can produce enough drones to compete. 

To that end, the Pentagon has earmarked $1 billion this year for its Replicator initiative to mass-produce the kamikaze drones. Taiwan also plans to procure nearly 1,000 additional AI-enabled drones in the next year, according to the Taipei Times. The future of warfare has arrived.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Low users, sex predators kill Korean metaverses, 3AC sues Terra: Asia Express

Coin Telegraph
.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
Asia Express

Low user numbers and sex predator scandals are killing South Korean metaverses, 3AC sues Terra, Malaysian crypto kidnappings. Asia Express.

Our weekly roundup of news from Asia curates the industrys most important developments.

South Koreas tech-savvy population, blazing-fast internet, and deep-rooted gaming culture made it the ideal testbed for metaverse applications. Despite these advantages, some of the country’s top metaverse platforms are now closing their doors.

The latest casualty is 2nd Block, a metaverse built by Dunamu, the operator of South Koreas largest cryptocurrency exchange Upbit. 

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

DeFi and Ethereum are the ‘new narrative’: Michaël van de Poppe, X Hall of Flame

Coin Telegraph
DeFi and Ethereum are the ‘new narrative’: Michaël van de Poppe, X Hall of Flame
Coin Telegraph

Ethereum and DeFi will “both surge in the coming months” according to analyst Michaël van de Poppe: X Hall of Flame

The recent crypto market plunge, followed by some tokens quick bounce, helped MN Trading founder Michal van de Poppe spot a clear new trend forming.

If the markets didnt have a narrative, then it has presented a new narrative, which is DeFi, I think in terms of investment perspective, van de Poppe tells Hall of Flame.

A net positive strategy to allocate toward ETH and DeFi I think both will surge in the coming months, he claims.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Weird ‘null address’ iVest hack, millions of PCs still vulnerable to ‘Sinkclose’ malware: Crypto-Sec

Coin Telegraph
Weird ‘null address’ iVest hack, millions of PCs still vulnerable to ‘Sinkclose’ malware: Crypto-Sec
Coin Telegraph

iVest hit with “null address” exploit, millions of PCs at risk to “un-removable” malware, Web3 gamer tricked into $69K approval: Crypto-Sec.

Crypto scams, hacks and exploits and how to avoid them: Crypto-Sec

Decentralized Finance protocol iVest Finance was the victim of a $156,000 exploit on Aug. 12, according to a report from blockchain security firm QuillAudits.

Transferring tokens to a null address (0x0) usually causes them to be lost forever. However, in the iVest protocol, transfers to the null address cause a _MakeDonation function to be called, which in turn causes the senders balance [to be] incorrectly reduced by double the intended amount, QuillAudits reported.

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Chinese boomers joining crypto tapper cults, WazirX fallout worsens: Asia Express

Coin Telegraph
Chinese boomers joining crypto tapper cults, WazirX fallout worsens: Asia Express
Asia Express

China’s elderly are joining crypto tapper cults, WazirX faces fraud probe and asset freeze, Do Kwon’s flight home delayed again: Asia Express

Our weekly roundup of news from Asia curates the industrys most important developments.

The Chinese online community has been complaining that their parents are becoming obsessed with cult-like cryptocurrency mining groups that are scamming the nations elderly, local finance outlet Blue Whale Finance () reports.

The so-called mining apps related to the schemes are simple, even for the technically illiterate. They require participants to rapidly tap phone screens to accumulate points, as well as complete daily tasks like watching videos and ads. 

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0M WBTC Burned in the Wake of Coinbase’s Delisting Move

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

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