Crypto Scam Report Shows Web3 Experienced 15 New Fraudulent Smart Contracts
Solidus Labs functions to carry out crypto operations based on the crypto-native T3 (Triple T) market integration solutions (MIS). These market solutions include threat intelligence, monitoring of transactions, and trade surveillance. Its primary mission is to ensure the safety of crypto transactions and investments throughout all decentralized finance (DeFi) and centralized markets. Solidus Labs, situated […]
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Solidus Labs, which has been monitoring 12 leading blockchains, has detected a majority of scam-like tokens originating from Binance’s BNB Chain. The Web3 and cryptocurrency space is seeing a significant amount of smart contract scams proliferating, with blockchain risk monitoring firm Solidus Labs saying it has detected on average 15 newly deployed scams every hour.Solidus Labs said on Oct. 27 that it had been monitoring 12 blockchains including Ethereum, Polygon and BNB Chain since Oct. 10, and in that time, had detected 188,525 smart contract scams.Former United States Consumer....
Consecutive all-time-high smart contract deployments and surging usage of Web3 script libraries mean that Web3 devs are still busy working despite the prolonged market downturn. Web3 developers don’t appear to be fazed by the crypto bear market, with one Web3 platform suggesting they’re “more active than ever” — particularly on the Ethereum (ETH) network. In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for development on Ethereum. Around 36% of all smart contracts ever deployed and verified on the....
More countries are allegedly involved in a major global Bitcoin ad scam. A major Bitcoin (BTC) ad scam involving unauthorised images of Australian celebrities who seemingly promoted fake investment schemes is allegedly coming from Russia, according to a new report.Fraudulent Bitcoin ads capitalizing on Australian celebrities like Dick Smith and Andrew Forrest are part of an organized global business that uses at least five addresses in Moscow, an investigation by The Guardian asserts.On Dec. 13, The Guardian published a report providing more details about a major Bitcoin ad scam that has....
Most wallets feel like they were created for developers. That’s becoming a bigger problem in terms of both practicality and security as crypto adoption increases. After Ethereum’s long-awaited Merge, it’s an ideal time to think about how we can also improve smart contracts. Essentially apps that run on blockchains, smart contracts are a vital component of our Web3 applications. But interacting with them remains quite dangerous, especially for non-developers. Many of the incidents where users lose their crypto assets are caused by buggy or malicious smart contracts.As a Web3 app developer,....
In a recent development from Thailand, authorities uncovered a massive crypto scam targeting local investors, with damages amounting to more than $27 million. In collaboration with international bodies, local enforcement agencies went after a fraudulent investment platform, leading to multiple arrests and property seizures. Decoding The Deceptive Web: A Scheme Unveiled A report from the […]