Monat: April 2022

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US Treasury links three more Ethereum wallets to the $625M Ronin hack

The Ronin Network exploit happened in March and saw $600 million worth of Ethereum (ETH) and $25 million in USDC stolen.

The US Treasury’s Office of Foreign Asset Control (OFAC) has sanctioned three more Ethereum wallets linked to the recent hack on Ronin Network.

The new addresses have been connected to the North Korea hacking group Lazarus, OFAC said on Friday.

The OFAC revealed the addition of the three virtual currency addresses via an update to its Specially Designated Nationals (SDN) List published on 22 April. All three have ties to the activities of the North Korean state-sponsored hacker group Lazarus Group.

Notably, recent funds movement linked to the three wallets involves proceeds of the exploit on the Ronin blockchain.

“The DPRK has relied on illicit activities like cybercrime to generate revenue while trying to evade US and UN sanctions,” US Treasury tweeted.

The agency has warned that transacting with the designated wallet addresses “risks exposure to US sanctions.”

OFAC listed wallet addresses ‘blocked’

The addition of the three wallets comes just days after the department linked Lazarus Group to the $625 million heist. 

On Friday, the original address used in the attack moved funds to various addresses using Tornado Cash – a mixing service that helps make transactions difficult to trace. The decentralised protocol, which helps make Ethereum transactions private, announced on 15 April that it would block any crypto wallets added to OFAC’s list.

Tornado Cash has reiterated that financial privacy remains “essential to preserving” financial freedom. However, privacy should not be pursued at the “cost of non-compliance,” it added.

In related developments, Binance reportedly recovered $5.8 million worth of funds stolen during the hack. According to Binance CEO Changpeng Zhao, the hackers had sent the funds to 86 accounts.

The post US Treasury links three more Ethereum wallets to the $625M Ronin hack appeared first on Coin Journal.

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These coins could still deliver superb gains despite a slow start in 2022

The crypto market started in 2022 badly. Most coins have since recovered from this slump, but they are nowhere near their highs. While there are still several risks in the broader market, 2022 could still turn out to be a great year for crypto. Here is why:

  • Traditional asset classes have severely underperformed, and this could push investors into crypto.

  • Some of the concerns investors had at the start of the year are slowly abating

  • Crypto still remains a high growth asset despite its rocky volatility

Well, for investors who are looking for crypto gems that still have the potential to do well in 2022, here is the full list:

Decentraland (MANA)

Although the crypto market was hit hard at the start of 2022, metaverse coins like Decenterland (MANA) faced steeper falls. The coins have recovered somehow, but they are still very low compared to previous expectations.

Data Source: Tradingview 

The good news is that interest in the metaverse will keep growing. As a result, it is likely that MANA and other metaverse coins will turn things around before the end of the year.

Fantom (FTM)

Fantom (FTM) has had several hurdles to cross this year. After a poor start to the year, Fantom also reported that one of the main founders had left the project. This dented investor confidence, and the coin tanked. But we have seen a bit of recovery. Fantom still remains a very reliable DeFi project. It is worth watching it in 2022.

Loopring (LRC)

Loopring (LRC) is an Ethereum scaling solution that has been experimenting with a number of new technologies, including ZK Rollups. While the price has consolidated over the past few weeks, LRC still has so much potential. It is one of the few coins that can actually be 5x your money this year if conditions in the market improve. LRC however faces massive competition from other Ethereum scaling solutions.

The post These coins could still deliver superb gains despite a slow start in 2022 appeared first on Coin Journal.

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Top 3 crypto projects that could revolutionize virtual reality and the metaverse

The metaverse is seen as the next frontier of human interaction. However, the metaverse works in tandem with virtual reality. As such, most projects are trying to combine both of these aspects. Here is why metaverse and virtual reality are blowing up:

  • There is huge interest from institutional investors, including large tech companies

  • The time of metaverse and virtual interaction has finally come

  • We already have supporting technologies that will make this a reality

Well, if you are trying to find creative crypto projects that will unleash the metaverse and virtual reality, we have some below:

Solana (SOL)

Solana (SOL) is more of a blockchain infrastructure than a specific metaverse or virtual reality project. But infrastructure is crucial in the growth of virtual reality, and there is no better option out there than Solana. 

Data Source: Tradingview 

In fact, in recent months the chain has been attracting a huge number of gaming and virtual reality projects. Solana is famed for its high scalability, speed, and low gas fees. It is therefore a more attractive option for developers in the virtual reality niche.

CEEK VR (CEEK)

CEEK VR (CEEK) wants to bring music and live performance to the metaverse. The project has in fact invested heavily in its own propriety VR glasses to give users the ultimate experience. 

So far, the CEEK universe is built with concert halls and other virtual performance venues. The project is also backed by some of the biggest music superstars in the world including Lady Gaga and others.

JEDSTAR (KRED)

JEDSTAR (KRED) is designed to combine decentralized finance and GameFi. The project is currently building a virtual reality universe and comes fully integrated with an NFT marketplace as well. 

JEDSTAR will also give gamers, developers, and artists the tools they need to create content for the metaverse. The project is relatively new, so it should be a good start.

The post Top 3 crypto projects that could revolutionize virtual reality and the metaverse appeared first on Coin Journal.