The Cost of Scams For NFT Marketplaces and Users
The NFT marketplace is flourishing and gaining consumer interest by the day. At the same time, this development also exposes users to new scams, counterfeits, and money laundering schemes. According to a PrivacyHQ survey, half of NFT owners have lost digital assets at least once. Earlier this year, OpenSea, the largest public NFT marketplace, reported […]
Related News
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....
Recent exit scams have displaced the users of darknet markets, with Eastern European-only platform Hydra now the largest worldwide. A report published by blockchain forensics firm CipherTrace has detailed significant disruptions to the clandestine darknet marketplace sector following a spate of exit scams during recent months. Despite opportunities for new marketplaces to capture the users of the now-defunct platforms, CipherTrace notes the absence of a single platform dominating Western volume. It estimates that the Russian-focussed Hydra market is now the largest worldwide.Hydra is....
While many organizations are exploring the capabilities of blockchain technology, a pair of researchers argue that cryptocurrencies will affect two key costs in the economy: the cost of verifying transactions, and the cost of running a network, platform or marketplace. Their 30-page working paper, titled “Some Simple Economics of the Blockchain,” explains that blockchain technology lowers the cost of auditing transaction information and allows new marketplaces to emerge by enabling market participants to perform costless verification. The authors are Christian Catalini of MIT and Joshua....
When it comes to NFT marketplaces, everyone and their grandmother have heard about the likes of OpenSea and Top Shot. But, what about the hidden places you simply cannot afford to miss as a connoisseur of digital assets? Read on to learn more about lesser-known NFT marketplaces which sometimes go undeservedly unnoticed but whose best […]
The drugs procured from darknet marketplaces are much safer than those available on the streets due to various reasons, states a recent report by EMCDDA. The rise of darknet marketplaces is attributed to the increased adoption of digital currencies like Bitcoin. Darknet marketplaces use digital currencies as a mode of transaction to ensure anonymity of all the parties involved. Lately, law enforcement agencies from across the world are trying hard to bring dark net drug dealers to book. They have been met with limited success as these marketplaces continue to evolve. However, there is a....