Through Twitter, the NGO Bitcoin Chile, an association dedicated to technology and cryptocurrencies, warned citizens about using and investing in 20 platforms that behave unethically and that set off all the alarms as possible scams. This and more news in this handy daily summary so that you are always informed of the most recent events that occur within the crypto world.
📍 In Chile, the Bitcoin Chile NGO Association issued a release in which it warns its citizens about the use of various cryptocurrency service platforms that use schemes and business models based on pyramid scams, such as multi-level marketing, marketing networks and multi-level network marketing. Among the companies mentioned by the NGO Bitcoin Chile are: Bitcoin vault, arbistar, Air Bit Club, OneCoin, Bitcheke, easybizzi, iMarketsLive (IM Mastery Academy), mind capital, Forage, Toway Group, kuailian, Stratus Academy, iComTech, Weltsys and more. In total, NGO Bitcoin Chile lists 20 companies as possible scams in the country and invites citizens not to invest their money in these platforms due to their "unethical way of acting."
📍 In Romania, the National Agency for the Administration of Seized Assets (ANABI) confiscated a significant amount of cryptocurrencies, , between them, Bitcoin (BTC) y Ethereum (ETH), involved in fraud case. The agency will auction off the confiscated cryptocurrencies at the request of the Prosecutor's Office on the Court of Ploiesti. Those interested in participating in the auction must register at the platform online auctions by the agency, and the successful bidder will be required to submit an address registered with a cryptocurrency exchange that supports the coins in question. The minimum bid is 30.535 lei for 0,625 BTC ($7.347 USD) and 1.670 lei for 0,971 ETH ($401 USD).
📍 The investment vehicle Grayscale Ethereum Trust (ETHE) presented a application to the Securities and Exchange Commission (SEC) of the United States in August, to become a risk reporting company. Thus, in its most recent reportGrayscale Ethereum Trust claims that the current network upgrade Ethereum a Ethereum 2.0 may pose a risk to investors. According to the risk report, the transition from Proof of Work (PoW) a Proof of Stake (PoS) It may mean a change with adverse effects on the value of ETH and the value of the stock.
ETHE points out several risk factors, including the inability to implement the appropriate changes for the update, generating a fork in the network, the future volatility of the value of ETH as a result of the new update, changes in the governance of the project and in transaction commission rates.
📍 APY Finance It is a decentralized finance platform (DeFi) which is causing a stir in the crypto community for the recent launch of its Liquidity Mining. The project managed to raise over $67 million just 1 hour after its launch.
APY Finance liquidity providers will receive APY governance tokens for staking stablecoins such as DAI, USDC, and USDT. However, as indicated in a blog post by the project, only 31,2% of the total supply will be allocated to public liquidity mining, which in turn raises concerns among several members of the community. Some have even gone as far as to call APY a “poop coin", a possible swindleInter alia.
📍 Ethereum Classic, after living through difficult times with multiple 51% attacks to its network, decided to implement a new security protocol, which is an adaptation of the protocol designed by Vitalik Buterin en 2014. The implementation will take place from next October 10th. Called Modified Exponential Subjective Scoring (MESS), the new protocol seeks to prevent block reorganizations within the network, making them 31 times more expensive than normal. MESS therefore seeks to make a 51% attack on the network much more expensive and difficult to execute.
📍 The United States Patent and Trademark Office (USPTO) granted the license No. 10.789.068, entitled System and Method for Verifying Sequence of Instructions of Software, Ripple Labs for a system based on smart contracts which has the ability to collect external real-world data using oracles and connect it to the Ripple ecosystem.
Continue reading: Ethereum's SKALE Network announces the launch of its Phase 2
