Top Crypto News Of The Day: NFTs, Attacks On Crypto Firms, and More!
Here is the top crypto news of the day curated by CoinChapter.com.
Pudgy Penguins NFT Project Sells 1M Plushies In A Year
The Pudgy Penguins NFT project has sold over 1 million physical plushie toys in just 12 months. The project’s CEO, Luca Schnetzler, announced this success on May 13.
The Pudgy Penguins NFT collection features 8,888 colorful penguin avatars. The project’s unique model allows NFT holders to earn 5% royalties on net revenues from sales of physical products. According to NFT marketplace OpenSea, the floor price for the NFT versions is currently 12.87 ETH, or approximately $37,580. The most expensive recent sale was Penguin #6873, which fetched 400 ETH, around $1.17 million.
Chinese Workers Cash Out Digital Yuan
Chinese workers are expressing hesitancy in holding onto the state-backed digital currency “e-CNY” or digital yuan. According to a May 13 report, several state employees are converting the digital currency to physical cash immediately after receiving their salaries in e-CNY.
While China has been considered a “functionally cashless” society for nearly a decade, the report suggested that many Chinese citizens remain hesitant to use a purely digital currency like the digital yuan due to broader fears of surveillance and its limited use cases.
Despite these concerns, more than $250 billion worth of transactions have been conducted through the digital yuan as of July 20, 2023.
Another News of the Day: North Korean Hackers Attacks on Crypto Firms
The state-backed North Korean hacking group Kimsuky has reportedly attacked at least two South Korean crypto firms. It used a new and “striking” malware variant dubbed “Durian.”
The previously unknown Durian malware acts as an installer, deploying a continued stream of malware, including a backdoor known as “AppleSeed,” a custom proxy tool called LazyLoad, and other legitimate tools such as Chrome Remote Desktop.
Interestingly, LazyLoad was also used by Andariel, a sub-group within the notorious North Korean hacking consortium Lazarus Group. This suggests a “tenuous” connection between Kimsuky and the more well-known hacking group.
Reebok Introduces AI-Powered Sneaker Customization Tool
Another piece of crypto news is the introduction of a new feature called “Reebok Impact,” developed in partnership with Futureverse by Reebok. This AI-powered tool allows users to send a photo via Instagram direct message and receive a custom digital sneaker in the colors and style of the image.
Users can create up to four pairs for free and send the file to games like Fortnite and Roblox. This allows them to showcase their personalized digital sneakers within these virtual environments.
Reebok’s move into the digital fashion game follows similar initiatives by its parent company Adidas and corporate rival Nike. While Reebok is not offering users the ability to purchase physical pairs of their “Reebok Impact” sneakers, the company stated that using the feature will come with an “incentive” to make real-life purchases.
Dormant Bitcoin Wallets Moves $61M
Two mysterious Bitcoin wallets holding a combined 1,000 BTC, worth $61 million at current prices, have suddenly come to life after a 10-year dormancy.
The wallet addresses “16vRq…qjzEa” and “1DUJuH…NgfC5” each transferred 500 Bitcoin on May 12 and May 13, respectively. The wallets initially received their 500 Bitcoin in 2013, when the Bitcoin price was $134.
The proximity of the inward and outward transfers prompted blockchain analytics firm Lookonchain to pair the two transactions together. This led onlookers to believe that the owner of these two wallets was the same person or entity. Before the transfers, the two addresses were the equal 4,353rd-largest Bitcoin whales, according to BitInfoCharts.
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