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ZachXBT: Deceptive Promotions of Meme CBOT and BABYSHIB with Crypto Influencers Revealed

by Blockchain NewsSeptember 10, 2023

In a series of tweets, ZachXBT has brought to light alleged deceptive promotional tactics by certain crypto influencers surrounding the meme CBOT and Shiba Inu family BABYSHIB tokens.

According to the revelations, ZachXBT was provided with specific wallet addresses by an individual named Icarus, which were purportedly linked to the CBOT team’s token transactions. A significant portion of these tokens were reportedly sold off within a short span of 1-2 weeks.

The central issue revolves around the promotional strategies of these influencers. ZachXBT alleges that neither Trader NJ nor PetaByte, who were actively promoting these tokens, disclosed that they were compensated with a percentage of the token supply. Instead, they portrayed themselves as unbiased investors, misleading their followers into believing they had personally invested in the projects.

Further deepening the controversy, ZachXBT claims that these influencers:

Leveraged the names of other notable figures in the crypto community to negotiate a larger percentage of the token supply.

Provided false information to projects and then feigned innocence when confronted.

To back his claims, ZachXBT shared wallet addresses associated with both BABYSHIB and CBOT tokens, allowing for independent verification.

The crypto Twitter community was quick to react. AGT_D10S highlighted a broader concern, suggesting that many high-profile figures in the crypto world might be exploiting their followers, using them as an exit strategy for their investments. ZachXBT concurred with this observation.

The revelations underscore the importance of transparency and ethical practices in the rapidly evolving crypto space, especially as influencers wield significant power over their followers’ investment decisions.

ZachXBT’s Pursuit of Transparency in the Crypto World

ZachXBT, renowned for unveiling scams and deceptive practices in the crypto realm, delved into the FTX hack, dispelling several circulating rumors. On November 20, 2022, he refuted claims that Bahamian authorities orchestrated the FTX attack and that exchanges knew the hacker’s identity. He emphasized that the 0x59 wallet address, linked with the hacker, showed distinct behavior from other addresses, suggesting it wasn’t affiliated with FTX or the Securities Commission of the Bahamas (SCB).

ZachXBT also challenged the narrative that Kraken had identified the hacker, suggesting the identified individual was merely FTX securing assets. He further debunked rumors about the FTX hacker trading memecoins, citing potential “spoofed” Ethereum network transactions.

A few months ago, ZachXBT surpassed his fundraising goal, securing over $1 million in donations from crypto industry giants like Binance CEO Changpeng Zhao and Kraken co-founder Jesse Powell. This support comes amidst a lawsuit filed by Huang Licheng, accusing ZachXBT of defamation. Despite the legal challenge, ZachXBT remains steadfast in defending free speech, highlighting the crypto community’s commitment to truth and transparency.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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One Pepe Coin Whale Liquidates Holdings as Another Opens $PEPE Ethereum Pool

by Blockchain NewsSeptember 10, 2023

Whale 0x9da’s Significant Swap

In a notable transaction today, an early crypto buyer identified as 0x9da executed a significant swap of 452.911B $PEPE tokens for 194.31 Ethereum ($ETH) at a rate of $0.0000006961 per $PEPE, amounting to a total of $315K, according to SpotOnChain.

This move comes after the whale’s initial accumulation of the $PEPE tokens from the Huobi exchange at an average rate of $0.0000002198, costing them approximately $99.55K on April 27, 2023. The recent swap resulted in an estimated profit of $216K, marking a 216% increase.

Source: Etherscan

Transaction details for the 0x9da swap are as follows:

Transaction ID (txid): 0xe69688c740916a67a417f33039d943aba1979245d758ce93b15e347ce46994ec

Address: 0x9dae76f6683d0d5a11c0ab4fb57d699ad4d78079

Whale 0x3ae’s Liquidity Pool Creation

Just an few hours before the aforementioned transaction, another crypto whale, 0x3ae, established a liquidity pool. This involved a massive 5.71T $PEPE tokens, equivalent to $4.13M, and 508 Ethereum ($ETH).

Details of the 0x3ae liquidity pool creation are:

Transaction ID (txid): 0x603c844db097ba7e63c4f8027b2b9a99e894a2fe0a3dc493af10767e22dcdf23

Address: 0x3aea201a16969012955071296eC207a351EAdC9f

At the present ETH valuation, the Pepe coin stands at $0.0000007231. The exchange rate for PEPE to ETH is set at 11,240,157,480 $PEPE for every $ETH. Should Bitcoin’s decline halt, the current Pepe price might offer profitability. However, if both BTC and ETH were to depreciate in the future, it would be strategic to go long on PEPE while simultaneously shorting ETH.

Pepe Coin Hits Lowest Price Today Since Binance Listing

Today, Pepe Coin (PEPE), inspired by the iconic Pepe the Frog meme, as reported by Blockchain.News, has hit its lowest price since its Binance introduction on May 5, 2023. After soaring to a high of $0.00000439, PEPE’s value plummeted to $0.00000082 by June 15, mirroring Bitcoin’s decline to $24,800. Today, the coin’s trajectory took a steeper dive, registering an 8% decrease, punctuated by a startling 10% drop within just a minute.

This decline isn’t isolated. The crypto market is on shaky ground, with looming predictions of Bitcoin potentially nosediving to $20,000. Adding to the market’s jitters are unsettling events like the compromise of Ethereum Founder, Vitalik Buterin’s Twitter, and security breaches on PePe X’s social platforms. Given that many altcoins, including Pepe Coin, are built on the Ethereum blockchain, such incidents have a cascading effect.

Further muddying the waters are past allegations tied to Pepe Coin, from potential scams to insider trading. The unveiling of its previously anonymous founder, linked with a criminal past, has undoubtedly shaken investor trust. Amidst this tumult, the crypto community watches closely, as PEPE’s future in this volatile market hangs in the balance.

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Tagged : ETHEREUM POOL / News / PEPE / PEPE COIN

NEAR Protocol Potential Unveiled by Open Forest Protocol

by Blockchain NewsSeptember 10, 2023

The internal pitch deck of Open Forest Protocol (OFP) surfaced on Reddit. OFP, a pioneering project on the NEAR Protocol, offers a unique perspective on the potential trajectory of NEAR’s growth.

OFP is poised to revolutionize the voluntary carbon market, currently valued at around $2 billion USD. Projections indicate a potential surge to $50 billion USD by 2050. The project leverages open-source technology to introduce ‘real-world assets’ related to carbon sequestration and a ‘new asset class’ signifying a quantifiable amount of captured carbon. The ultimate goal? Establishing OFP as a trusted source for affordable, high-quality carbon credits.

Slide 5 from the leaked deck highlights the distinct advantages OFP holds over conventional verification methods. Open-source projects like OFP are gaining momentum. The OFP Explorer, as mentioned in the document, offers a transparent snapshot of each project’s status within the network. Slide 10 reveals OFP’s remarkable market fit, considering it’s been operational for just seven months. With a project pipeline 20 times its current size, OFP’s influence is anticipated to grow substantially.

OFP’s approach to carbon credits is noteworthy. These credits, traditionally viewed as commodities by regulators, are transitioning from an off-chain, analog format to an on-chain digital one. This not only simplifies regulatory disruptions but could also become a tax revenue source for governments.

While specific organization names remain undisclosed, Slide 13 hints at potential collaborations with major partners. Current OFP projects are forecasted to generate nearly $4 million in protocol fees within the next two years. The emphasis on forest initiatives indicates a potential for this revenue to recur annually.

Furthermore, the full ‘on-chain’ nature of these credits ensures compatibility with DeFi markets and liquidity pools. If the leaked deck holds true, OFP might emerge as one of the first revenue-positive ReFi projects, potentially generating an estimated $200m USD annually for the ecosystem and over $12m in yearly fees.

As an early venture in the NEAR ecosystem, OFP is strategically placed to contribute to NEAR’s growth, both in terms of ReFi capabilities and liquidity enhancements. Despite being operational for a mere seven months, OFP has gained significant traction with a project pipeline 20 times its present size, signaling a robust market fit. The project’s carbon credits are fully ‘on-chain,’ making them compatible with decentralized finance (DeFi) markets. They are also categorised as commodities by regulators, facilitating a smooth transition to Open Web infrastructure. Leaked slides hint at upcoming major partnerships that could further amplify OFP’s value and make it a pioneering, revenue-positive ReFi project.

NEARWEEK serves as the primary hub for all NEAR-related content. As the official NEAR Protocol newsletter and community platform, NEARWEEK extends beyond traditional journalism, actively engaging with and contributing to the NEAR ecosystem. NEAR’s vision is to introduce a billion users to the boundless potential of Web3 through the Blockchain Operating System (BOS). With its high-performance, carbon-neutral protocol, NEAR provides a unified platform for exploring the open web.

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Tagged : Near / News / OPEN FOREST PROTOCOL

Crypto Exchange Thodex Founder Sentenced to Over 11,000 Years Amid Fraud Allegations

by Blockchain NewsSeptember 10, 2023

In a decision by the Anatolian 9th High Criminal Court, Faruk Fatih Özer, the mastermind behind the Turkish cryptocurrency platform Thodex, has been found guilty in a significant fraud case. Alongside Özer, six other individuals were detained, making up a total of 21 individuals implicated in the fraud allegations.

The court’s judgment was severe. Özer, together with his siblings, Güven Özer and Serap Özer, received a staggering sentence of 11,190 years and 6 months imprisonment. The charges that led to this lengthy sentence encompassed “establishing, directing, and participating in a criminal organization,” “engaging in sophisticated fraud,” and “money laundering.”

In addition to this, the court mandated an extra sentence of 6 years, 4 months, and 15 days for each sibling. They were also slapped with a hefty fine of 135 million lira for “committing fraud using digital systems.” In total, the cumulative sentence for each of the Özer siblings stands at 11,196 years, 10 months, and 15 days.

Thodex, which was once a beacon in Turkey’s cryptocurrency landscape, took an unexpected turn in 2021 when it suddenly halted all operations. This abrupt closure left numerous users in a quandary, unable to access their digital assets, which were estimated to be worth around $2 billion.

The situation became murkier when Özer departed Turkey post the shutdown, sparking rumors of a potential exit scam. Despite the swirling allegations, Özer remained steadfast in his denials.

In the courtroom, Özer presented a defense centered on the premise that Thodex was simply a business venture that unfortunately went under. He asserted, “I possess the acumen to oversee any global institution. My capabilities are evident from the enterprise I initiated at a mere age of 22. Had I intended to create a criminal syndicate, my actions would have been far more sophisticated.”

The Anadolu Chief Public Prosecutor’s Office, in its indictment, shed light on the deceptive practices of the Thodex platform. The document revealed that a sum equivalent to 253 million 714 thousand 909 lira in cryptocurrency was moved from three distinct accounts under the control of Özer. Intriguingly, a large chunk of these digital assets found their way to cryptocurrency wallets based in Malta.

The saga took another twist when Özer was captured in Albania on August 30, 2022. Following legal procedures, he was extradited to Turkey by April 20, 2023, and by April 23, he was under detention at the Anadolu Justice Palace.

This case has garnered extensive coverage from global media powerhouses like Cointelegraph and Fortune. Their reports underscore the pivotal nature of the Thodex case in the realm of cryptocurrency and highlight the broader ramifications it holds for the regulation of digital assets and safeguarding investor interests.

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Tagged : Crypto Exchange / FARUK FATIH OZER / FRAUD ALLEGATIONS / News / Thodex

Ripple XRP Ripplex Proposes XLS-30 AMM Amendment for XRPL Mainnet Integration

by Blockchain NewsSeptember 10, 2023

RippleX, Ripple’s XRP Ledger, has announced the proposal of the XLS-30 AMM amendment for the XRP Ledger (XRPL), marking a significant step in decentralized financial applications. The amendment is currently undergoing a voting process, where the validator community will decide its integration into the XRPL Mainnet.

The XLS-30, described as the first of its kind, is built as a native protocol. It aims to introduce native AMM functionality to the XRPL, enabling asset trading in automated liquidity pools. One of its standout features is the Continuous Auction Mechanism, designed to incentivize arbitrageurs to bid for mispricing opportunities. This mechanism aims to mitigate the effects of impermanent loss for liquidity providers.

Last year, the RippleX team proposed the XLS-30d technical specification to integrate a protocol-native automated market maker (AMM) with the order book-based DEX on the XRP Ledger. Since its introduction to the Devnet in November 2022, the community has witnessed significant progress in testing and development. The Devnet saw the creation of hundreds of AMM pools, and numerous wallets were connected to assess its functionality. Furthermore, RippleX has incorporated AMM support in three client libraries: xrpl.js, xrpl-py, and xrpl4j, and has also integrated it into the xrpl.org explorer.

The decentralized nature of the XRP Ledger ensures that no single authority can dictate decisions for the network. For the XLS-30d amendment to be approved, at least 80% of the validator community must vote in favor, and this consensus must persist for a minimum of two weeks. If these conditions are met, the amendment will be integrated into the Mainnet.

Developers can leverage the XLS-30d AMM integration for two primary use cases: creating new financial applications and integrating into non-financial applications. The protocol offers a streamlined process for developers, eliminating the need for heavy lifting. It also introduces a unique auction mechanism to reduce impermanent loss, incentivizing arbitrageurs to maintain stable volatility by bidding at near-zero trading fees.

In practical applications, for instance, if a user wishes to purchase an NFT listed for a specific token but only possesses a different token, the AMM can facilitate the exchange at an optimized transaction price. This seamless integration can significantly enhance user experience, especially for illiquid tokens.

Developers interested in the XLS-30d can access the latest technical documentation for more information and provide feedback. The XRPL Explorer also offers insights into transactions and other relevant data. The open-source nature of this technology encourages all developers to test functionalities and engage with the active XRPL community on discord.

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Tagged : #XRP / AMM AMENDMENT / MAINNET INTEGRATION / News / Ripple / Ripplex / XLS-30 / Xrpl

Bitcoin Ordinals: Over 30M Inscriptions with $50M in Accumulated Fees

by Blockchain NewsSeptember 10, 2023

As of recent data from Dune Analytics, the Bitcoin Ordinals Protocol has seen a total of 30,329,662 inscriptions, with an accumulated fee of ₿1,998.1707 (Bitcoin), equivalent to approximately $51,681,834 USD. These inscriptions, known as “Bitcoin-native Digital Artifacts,” allow users to embed data directly into the Bitcoin Blockchain.

Introduced in January 2023 by programmer and artist Casey Rodarmor, Bitcoin Ordinals, or digital artifacts, offer a unique way to inscribe digital content on the Bitcoin blockchain. Drawing parallels to non-fungible tokens (NFTs) on platforms like Ethereum, Ordinals transform individual satoshis (the smallest unit of Bitcoin) into NFTs. This transformation is based on ordinal theory, which assigns individual identities to satoshis, enabling them to be tracked, transferred, and endowed with significance.

The Ordinals protocol, at its core, assigns a unique number to each satoshi based on its mining chronology. The identification and tracking mechanism, known as “Ordinals,” relies on the chronological sequence of creation and transactions. Each satoshi, once identified by the Ordinals protocol, can be inscribed with arbitrary data, turning it into a distinct digital artifact. This capability to write arbitrary data into a satoshi became feasible following the SegWit (2017) and Taproot (2021) upgrades to Bitcoin Core.

The trading landscape for Bitcoin Ordinals is still nascent. Most trades are conducted over-the-counter, but tools like the Ordinals Wallet, Hiro, and Xverse have emerged to facilitate the buying and selling of these digital artifacts. Notably, the Ordinals Wallet, launched on February 16, 2023, offers a comprehensive solution for users to manage, transfer, and trade Ordinals. Similarly, the Hiro Wallet, introduced on February 14, 2023, is compatible with popular Ordinals platforms such as Gamma and OrdinalsBot.

In comparison to traditional NFTs, Ordinals stand out due to their technical design. While Ethereum’s ERC-721 standard, used for NFT creation, typically holds metadata or a pointer to the art off-chain, Bitcoin Ordinals store content or art directly on-chain. This distinction in storage methodology underscores the uniqueness of Ordinals in the digital asset space.

The future trajectory of Bitcoin Ordinals appears promising. Beyond porting Ethereum NFT collections to Bitcoin, innovative projects are emerging that are intrinsically linked to these digital artifacts. As the demand from users and enthusiasts grows, the ecosystem is expected to evolve, offering more refined and user-centric solutions.

In a recent development, the Ordinals Protocol has introduced “Recursive Inscriptions,” a minor upgrade that could enhance composability and introduce an element of randomness to inscriptions. This upgrade has already seen a total of 149,610 recursive inscriptions.

In conclusion, Bitcoin Ordinals represent a pioneering step in the world of digital assets, merging the robustness of the Bitcoin blockchain with the versatility of NFTs. As the technology matures, it will be intriguing to witness the myriad ways in which it reshapes the digital landscape.

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Tagged : Bitcoin / BITCOIN ORDINALS / INSCRIPTIONS / News

Binance CEO CZ Comments on Vitalik Buterin’s Twitter Account Hack

by Blockchain NewsSeptember 10, 2023

Changpeng Zhao (CZ), the CEO of Binance, the world’s largest cryptocurrency exchange, has commented on the recent hacking of Ethereum co-founder Vitalik Buterin’s Twitter account. In a tweet dated 10 Sep 2023, CZ urged the public to exercise caution when interpreting content on social media, even if it originates from key opinion leaders (KOLs). He emphasized that Twitter’s security infrastructure lacks the robustness of financial platforms, suggesting improvements such as two-factor authentication (2FA) and distinct login IDs separate from handles or email addresses.

CZ’s tweet read:

Vitalik’s Twitter account got hacked. Use common sense when reading content on social media, even from large KOLs. Twitter’s account security is not designed as financial platforms. It needs quite a bit more features: 2FA, login id should be different from handle or email, etc. In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly). This was before the ‘Elon era’. Stay #SAFU!

According to blockchain investigator ZachXBT, the breach resulted in victims losing over $691,000 after being lured into clicking a malicious link shared by the hacker on Buterin’s compromised account. The link falsely promised a free commemorative nonfungible token (NFT). As a result of the hack, Ethereum developer Bok Khoo, also known as Bokky Poobah, reported significant losses in his CryptoPunk NFT collection. (Read Exclusive Interview with CZ by Blockchain.News)

He further explained the reason why Vitalik’s tweet was hacked,

if it was a SIM swap then yes he should refund bc that would be his fault for using SMS 2FA (surely he doesn’t) if it was something else then why is it his fault for something entirely out of his control?

In light of these events, users are reminded to be vigilant about the content they engage with on social media platforms and to ensure they have adequate security measures in place for their online accounts.

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Tagged : Binance / Cz / Hack / News / TWITTER ACCOUNT / Vitalik Buterin

Shiba Inu SHIB Founder Ryoshi NFT Collectible Debut on HEEL and SHIBACALS

by Blockchain NewsSeptember 10, 2023

A mystery but significant NFT brand has recently emerged in the Web3 landscape. HEEL and SHIBACALS have unveiled a limited edition collectible titled ‘Young Ryoshi in Space’. This collaboration between the two prominent entities is set to introduce only 45 of these exclusive pieces to the market.

The NFT collectible symbolizes the enigmatic founder of Shiba Inu, Ryoshi. Often referred to as the “Dogecoin killer,” the Shiba Inu cryptocurrency reached unprecedented highs in October 2021, boasting a market cap close to $40 billion. Shiba Inu commands one of the largest fan bases in the crypto realm. Recently, Blockchain.News reported an exploration into the identities behind Ryoshi.

The ‘Young Ryoshi in Space’ collectible is limited to just 45 pieces, emphasizing its exclusivity within the blockchain community. Interested parties should mark September 9, 2023, at 20:00 UTC on their calendars. The sale is anticipated to see a rapid uptake given the limited quantity. Priced at 0.1 ETH, the collectible offers an affordable entry point for both seasoned crypto enthusiasts and newcomers to the NFT space.

The collectibles are initially available as NFT passes, which may unlock exclusive content and experiences for their holders in the future. While the cost of the collectible covers the item itself, shipping charges are separate. Deliveries are expected to begin in mid-to-late October. In a move to add more value to the purchase, SHIBACALS will award five random collectible holders with 500 HEEL tokens each.

To preserve the uniqueness of the sale, ‘Young Ryoshi in Space’ collectible passes will not be available for resale. Prospective buyers are advised to use the official sale link on OpenSea when the sale goes live to ensure the security of their crypto assets. Each ‘Young Ryoshi in Space’ Collectible Pass will contain unlockable content, which will provide further details, including shipping information. Winners of the HEEL special minting event held last week will receive a collectible pass, granting them exclusive access to the ‘Young Ryoshi in Space’ sale.

This collaboration between HEEL and SHIBACALS, combined with the intrigue surrounding Shiba Inu’s founder, underscores the growing interest and innovation within the NFT and blockchain space. As the market continues to evolve, such limited edition offerings and influential figures highlight the potential for unique digital assets to capture the imagination of collectors and investors alike.

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Tagged : HEEL / News / NFT / RYOSHI / Shib / Shiba Inu / SHIBACALS

Pepe Coin Hits Lowest Price Since Binance Listing

by Blockchain NewsSeptember 10, 2023

Pepe Coin (PEPE), deriving its theme from the popular Pepe the Frog meme of the early 2000s, registered a decline in its value today, reflecting the broader Bitcoin downturn.

The Dynamics in Depth

After its Binance debut on May 5, 2023, PEPE surged to its zenith of $0.00000439. This performance was followed by a drop to $0.00000082 by June 15, 2023, a time when Bitcoin also registered a decline to $24,800. Post this drop, PEPE showcased a gradual uptrend, culminating at $0.0000019 by July 13. However, after this July peak, the coin began its descent, following the overall correction observed in Bitcoin. Today’s stats narrate a challenging day for PEPE. Its value experienced an approximately 8% reduction, with a volatile amplitude of 13%, including a swift 10% drop within a solitary minute.

Factors at Play

The entire cryptocurrency market remains fragile, with predictions suggesting Bitcoin could soon dip to $20,000. Pessimistic sentiments may intimidate traders.

The current tumult in the altcoin market can be partially attributed to the reports surrounding the compromise of Ethereum Founder, Vitalik Buterin’s Twitter account. Given that a substantial number of altcoins, Pepe Coin included, have their foundations on the Ethereum blockchain, such events often ripple through the market.

Compounding this uncertainty, as reported by Blockchain.News, social platforms of PePe X, especially its presence on the former Twitter and Telegram, were reportedly breached.

Adding to the mix of concerns are past allegations linked to Pepe Coin. These include potential involvement in scams and insider trading. Furthermore, the unveiling of its previously anonymous founder, who possesses a checkered past with criminal affiliations, has surely impacted investor sentiment.

A Glimpse into Pepe Coin

Token Layout: The colossal total of 420,690,000,000,000 PEPE tokens is structured with 93.1% dedicated to the liquidity pool. This aims to foster trading stability. The residual 6.9% is allocated for CEX listings, a step toward integrating with mainstream trading platforms.

Performance Metrics: Initiated at $0.0000002823 on April 19, 2023, PEPE’s market cap burgeoned to an impressive approximate of $1.6 billion between late April and May 2023.

Procurement Pathways: Potential investors can look toward centralized exchanges like Binance, Kucoin, and Kraken. Decentralized trading platforms like Uniswap also offer PEPE. Regardless of the route, a crypto wallet endowed with Ethereum is mandatory for transactions.

Looking Forward

In the capricious world of cryptocurrencies, Pepe Coin’s future seems intertwined with multifarious determinants. As stakeholders and analysts keep a close watch, the evolving saga of PEPE in this volatile market remains a topic of intrigue.

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Tagged : Binance / LOWEST PRICE / Meme / News / PEPE COIN