San Francisco-based wallet-as-a-service (WaaS) provider Magic has raised $52 million in a strategic funding round led by PayPal Ventures bringing the firm’s valuation to just under $500 million. Other participants of the fund round include Cherubic, Synchrony, KX, Northzone, and Volt Capital. The latest capital infusion will be deployed to expand Magic’s functionality and enable...Read More
John Forsyth, a Missouri emergency room doctor, crypto advocate, and co-founder of crypto project Onfo (ONFO), was recently found dead in northwest Arkansas after being reported missing for over a week. The 49-year-old man was last heard from on May 21 through text messages with his fiancée. Authorities told the deceased’s brother Richard Forsyth that...Read More
A new report by blockchain security company Beosin revealed that the total amount of crypto assets lost to exit scams and rug pulls was higher than the amount stolen from decentralized finance (DeFi) projects through exploits and attacks last month. Beosin also discovered that losses from the exploits in May were down 79% compared to...Read More
The highly anticipated Bitcoin halving event, scheduled for April 2024, has created a buzz in the crypto community. Many analysts and investors have predicted that leading up to the Bitcoin halving, which occurs approximately every four years, the price of BTC would enter a period of consolidation. Analyst Credible Crypto’s expectations suggest that Bitcoin’s price...Read More
The non-custodial decentralized crypto wallet Atomic Wallet – with a reported user base of over five million customers – said some of its users complained about having their digital assets drained. Later reports suggested that numerous users had six figures worth of crypto wiped out, while the largest victim lost nearly $3 million worth of...Read More
OpenAI’s sensational chatbot service ChatGPT has taken the world by storm. This explosion of interest has translated into a proliferation of new apps that trick users with savvy ads before rug-pulling them. In the latest development, a ChatGPT-style Web3 firm BlockGPT has been confirmed to have carried out a rug pull, stealing $256,000 in pre-sale...Read More
