Top Crypto News Of The Day: Scammers Targeting Hamster Kombat, HK Tests Stablecoin, and More
Here are the top crypto news of the day curated by CoinChapter.com
Hamster Kombat Game Targeted by Scammers
Players of the popular mobile game Hamster Kombat are being targeted by scammers. These criminals use fake offers of free coins or money to trick players into giving away their login information and cryptocurrency. The scams include phishing attacks, fake airdrops, and fraudulent websites.
Hamster Kombat has grown rapidly, gaining 239 million users in 81 days and adding 4-5 million new users daily. This popularity has made it an attractive target for scammers. Cybersecurity experts warn players to be cautious about clicking links or entering their information on unfamiliar websites.
Crypto News: Hong Kong Tests New Digital Money System
Hong Kong is testing stablecoins, with several big companies participating. The project aims to make payments faster and cheaper, and explore uses in supply chain management and financial markets. Participants include Standard Chartered Bank, Animoca Brands, and Hong Kong Telecommunications.
While the test is underway, the Hong Kong Monetary Authority has warned that participating companies can raise funds from the public or offer investment products related to the sandbox. This project is part of Hong Kong’s broader effort to become a leader in digital finance.
Hacker Converts Stolen Crypto to Ether
A hacker who stole $230 million worth of cryptocurrency from WazirX, an Indian crypto exchange, has converted most of the stolen assets into Ether. They now hold approximately 59,097 ETH, worth about $150 million. The remaining $15 million is in various other cryptocurrencies.
The hack targeted WazirX’s multisig wallet on the Ethereum network, stealing over 200 different crypto assets. In response, WazirX has paused all withdrawals. Blockchain analytics firms suggest that the hack may be linked to North Korean hackers.
Crypto News: Tornado Cash Resurged Despite Ban
Tornado Cash, a cryptocurrency mixer banned by U.S. authorities, has seen a surprising increase in usage during the first half of 2024. Despite ongoing sanctions, the service has received $1.9 billion in deposits, a 50% increase from the total deposits in 2023.
Authorities sanctioned platform in August 2022 after it was revealed that North Korean hackers had used it to launder illicit funds. These sanctions effectively blacklisted any wallet interacting with the protocol, making it nearly impossible to withdraw funds through compliant exchanges.
South Korea Enforces New Crypto Rules
South Korea has begun enforcing new regulations for cryptocurrency companies. These firms must now monitor and report suspicious transactions, aiming to protect users’ assets and prevent unfair trading practices such as price manipulation.
The new rules give financial regulators the authority to supervise, inspect, and sanction virtual asset trading platforms. The government expects these measures to help establish a sound order in the cryptocurrency market and allow for severe penalties against those engaging in unfair trading activities.
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