TS Weekly News 2 (06.06 - 12.06.2022)
New week, news update. Do Kwon, PayPal, Samsung, Hyundai, Pridefall Attack 2022 - all of the highlights in the previous week are in an article.
In the last week, the 'Pridefall' event was said to cause a series of cyber attacks on social media sites, especially Discord. Please keep your assets secure at all times, and check out our new blogs to learn how to prevent property damage. In this article, let's Trait Sniper count on highlight news in the previous week.
Blockchain Market
Do Kwon had withdrawn $80 million before Terra's collapse?
Do Kwon is a South Korean cryptocurrency developer and CEO of Terraform Labs, which is the issuer of digital currency LUNA or LUNA2. A Terra employee reported to Securities and Exchange Commission (SEC) investigators that Do Kwon was withdrawing $80 million a month before LUNA/UST collapsed, which received controversial comments. It won't be the first time Terraform Labs hears from the SEC if they decide to launch an investigation.
While many people support the idea of jail, others disagree. Nicolas Boulay tweeted that "nobody throws casino owners in prison," he assumed that investing in the asset was a risk and can not avoid potential losses.
On June 9, Do Kwon responded to the claims on Twitter, saying that the story is being driven by misinformation. He commits to ensuring that correct information is made public. The next actions of both sides will be updated on Trait Sniper weekly news.
PayPal Updated Transfer, Send, and Receive feature for Bitcoin, Ethereum, Bitcoin Cash, and Litecoin
The PayPal app offers users convenient capabilities to spend, transfer, save and monitor their transactions quickly and securely in more than 200 countries. Their press release allow:
Transfer supported coins into PayPal.
Move crypto from PayPal to external crypto addresses including exchanges and hardware wallets.
Send crypto to family and friends on PayPal in seconds, with no fees or network charges to send or receive.
PayPal has added an extra identification verification step for customers before they can send any cryptocurrency for security concerns. Currently, it is available in the only US. However, the big move of PayPal raises awareness of crypto adoption, ensuring that they do not fall behind in fast-changing finance.
NFT Market
Meadow Labs & Australia Zoo - launching the first NFT Wildlife Warrior
Meadow Labs collaborates with Australia Zoo to launch the first NFT Wildlife Warrior, which is scheduled for 14 June 2022 at 7 PM AEST. The collection was created on Aklgorand – the world’s first carbon-negative blockchain with 0.01 gas and transaction fees. The complete NFT series will donate 100% of main revenues to a variety of Australia Zoo and Wildlife Warriors conservation programs, activities, and goals. The ecologically friendly NFT initiatives ideal solution for the environmental effects of blockchain activities while also doing good with NFTs in the future.
Cyberattacks & The Pridefall Discord Attack
Several hacks and scams have happened since the beginning of 2022. Big names such as OpenSea, Bored Ape Yacht Club, and Axie Infinity,... was compromised their Discord community or system. As a result, both users' wallets and project team members' assets were stolen for huge financial loss.
In the last week, The Pridefall Discord assault is a cyber attack launched by homophobic individuals against the LGBTQ+ community. Unauthorized users send you excessive vulgarity and racial remarks in this Pridefall Discord assault, and there will also be IP grabbers, hackers, and doxxers. Because Discord is still a location for NFT projects to grow their community, this occurrence has a weight influence.
Recently, Trait Sniper published several titles to learn about hacks, scams, and self-protection skills. Access the link to read and prepare knowledge to stay safe in the NFT space!
Samsung & Hyundai
Two major South Korean corporations have begun their NFT journeys.
Samsung initially got into NFTs in the summer of 2021, when they partnered with Nifty Gateway to build their first smart TV NFT-dedicated platform. Samsung US opened its Discord server on June 7th, 2022. The corporation aimed to create a virtual space for its followers, content creators, and gamers to connect and explore the Metaverse. These activities by technological big players reflect the future development potential of Web3 and Metaverse.
Hyundai Card, a top financial technology business in Korea, has collaborated with LIKE LION to establish an NFT marketplace and digital wallet services in the second half of 2022.
Chang Tae-young, VC and CEO of Hyundai Cart said: “When important companies and startups are working for a joint venture, they have to be willing to work together on an equal footing”. Duhee Lee, CEO of LIKE LION, added: “We are doing our best to make Modern Lion an influential NFT player and gain a leading position in the global market.”
Final Thought
We've always advised about clicking on strange links, but fraudsters can now create subtle faux links, and amateurs and professionals alike are vulnerable to being fooled. When the NFT market is active 24/7 and rapidly changing, it is essential for NFT lovers to be up to date with new news and articles on how to prevent fraud and stay safe.
Last but not least, careful evaluation before investing in any project is crucial! Trait Sniper has the TS Column title to summarize upcoming NFT projects highlighted, which we hope is useful for our beloved readers.