Bitcoin Will Truly Drain The Swamp
The often-quoted phrase could actually mean something if the incentives behind politics change.“Same Same, But Different Same”While Trump recently popularized the “drain the swamp” phrase, his execution and point-of-view were flawed. Politicians in the United States have been viewed in a negative lens for at least the last few decades. The problem is that our people have become so desensitized to this way of thought that nothing gets done to rectify the situation. Nihilism has been co-opted all the way up to the legislative level. How common is it in your discussions with family, friends....
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What we’re experiencing in FinTech is a Cambrian explosion of personal and B2B financial apps and services. From wealth-advising robots to cheap equity trading platforms to mortgages in minutes, we are facing a world in which middlemen and women are being replaced by code. But this code has creaky foundations. Zenefits was built upon – and was sued by – an old-guard payroll company. Many modern financial companies are still sending CSV files to central repositories using arbitrarily secure systems. Hackers stole $80 million from SWIFT – a platform that banks use to move money overseas –....
Decentralized finance (defi) protocol Akropolis was on Thursday hacked for $2 million in DAI, in the latest flash loan attack to hit the nascent defi industry. The attacker pilfered the platform’s Ycurve pool in batches of $50,000 in the stablecoin DAI. This particular pool allows investors to trade stablecoins and earn interest. In a statement on Nov. 12, Akropolis revealed that the hack was executed across a body of smart contracts in its “savings pools”. “At ~14:36 GMT we noticed a discrepancy in the APYs of our stablecoin pools and identified that ~2.0mn DAI had....
The crypto and NFT side of Twitter are flooding with scams. It only takes a few interactions to get your first “@Elonmusk_ started following you” notification. And if you ever reply to the tweet of a trader, dev, etc, then expect at least one of these fake bots asking you to ‘DM’ them. Most users […]
The growth of Bitcoin industry, and its huge potential to change the economy has started affecting the traditional finance industry. It can't be more obvious than the brain drain happening from financial sector to the Bitcoin sector. In recent days, many top level executives from well-known financial institutions have switched jobs to join Bitcoin based companies. This brain drain is not just confined to the financial sector, but to other sectors as well, the best example being the Nike's Global Chief Information Officer quitting the company to join BitReserve. READ MORE: Anthony Watson....
While bitcoin (BTC) prices are increasing, crypto-related scams appear on the scene to take advantage of the situation. In this case, a security firm spotted three malicious crypto apps targeting users to steal their funds. Three Bogus Crypto Trading and Poker Apps Are Infected With Dangerous Malware According to Intezer Labs, a year-long malware operation has been underway since January 2020, spreading faster with the help of a sophisticated marketing campaign. Per the research, the threat actors rely on three cryptocurrency-related apps to spread a Remote Access Tool (RAT) malware named....