Once-Hyped UK Digital Currency Hullcoin Hijacked By Chinese Scammers
In 2014, a local government initiative in the United Kingdom unveiled Hullcoin, an effort to use cryptocurrencies to fight the problem of regional poverty. The project, fueled by donations and the power of a small-scale mining rig, drew headlines at the time for its intersection of local governance and new technology. Yet new reports indicate that the philanthropic effort spawned an investment scam halfway across the world, as news has emerged that a group of investors have been scammed by a group of individuals selling investment packages based on Hullcoin. According to China News Service....
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Want to see which cryptocurrency stories are leading the news? This week, Hullcoin takes the spotlight. Have a look at the rest of the week’s hot news below. Approximately 500 investors have been cheated out of nearly $1.1 million by a Chinese investment scheme posing as London-based cryptocurrency platform Hullcoin. Emerging in 2014, Hullcoin’s claim to fame of using digital currency to battle global poverty is now facing a potential stain on its philanthropic reputation as the result of a nasty case of mistaken identity. Those directly involved with Hullcoin claim they have no....
As China keeps paving the way to adopt its central bank digital currency (CBDC), scammers are also actively emerging on the scene. The police in a Chinese province are now warning about a “sophisticated” CBDC-themed scam. Bogus Platform Is Set to Be Launched in March, Say Scammers According to a post from the cybercrime unit of the Weifang police force in Shandong Province, a scam named “Central Bank’s International Wallet” is claiming to be a digital yuan wallet platform. The bogus platform seems to have caught almost 500 users as of press time. The scam....
The city of Kingston upon Hull located in the United Kingdom has released its plans to unveil a new cryptocurrency: Hullcoin. They first announced the digital currency, along with their plans to fight poverty in the region, over a year ago. Revelations of how the coin would actually operate were detailed by the local Hull Daily Mail, with a release date set for October. Hullcoin will be introduced as a local government-backed digital currency. In exchange for voluntary works with the city, citizens would then receive the coin like a digital rewards program. The project is lead by Hull-born....
A forum at Hull City Council in the UK this month saw the launch of the very first UK local government operated cryptocurrency, dubbed HullCoin. The reason for this unprecedented technological act of local government is to tackle poverty, the council says, making it arguably the most worthy use of a cryptocurrency yet. Why local currencies? Hull, or Kingston Upon Hull to give it its full title, is one of many cities across the UK that has suffered due to the national recession and the coalition government's welfare reforms. This in turn has led to a large increase in the number of people....
The hackers hijacked the popular reporter’s account in an attempt to promote giveaways for the Skulltoons NFT project by duping users into clicking a malicious link. In what ESPN Major League Baseball reporter Jeff Passan called the “biggest news day” of his life, scammers hijacked his Twitter account to promote an NFT giveaway. With the MLB and the Players Association (MLBPA) engaged in a long-winded deadlock over a labor deal that resulted in canceled games, Passan had just broken news regarding an important agreement between the two parties concerning the international draft. hey....