Category: Web3

AI Tokens Surge as Nvidia Overtakes Apple in Market Valuation

Summary

AI tokens are absolutely popping off right now and a lot of the hype can be credited to Nvidia, which has once again passed Apple on market cap. This is the second time Nvidia has pushed further than Apple and now the AI crowd is stoked. This really sets a strong base for the future of Nvidia where it rules over AI and GPU game.

Reports on Tuesday say market cap of Nvidia reached $3.43 trillion which is a nick above Apple’s $3.4 trillion market cap. Nvidia has done it two times now and the whole AI segment is thrilled about it.

AI tokens Surge

NEAR’s up 13.7% in the last 24 hours. As of November 6 2024, whole AI token market’s worth around $33.92 billion, with NEAR holding a $5.12 billion stake. One major reason behind this positive pumps in AI tokens is US election projections. Trump, who has always talked positively about advancing crypto further, has sat on his throne in the White House. It will surely bring crypto-friendly vibes all around the globe in the future.

Additionally FET (Artificial SuperIntelligence Alliance) is up by 22.64%, Injective (INJ) has also jumped by 22.43% are two of the most gains made by AI tokens. FET’s at $1.40 and aims to touch $2 mark by the end of December and INJ’s trading at $20.54 which could potentially hit $22.63 which is a leap by 28.56%.

Some other AI tokens like Internet Computer’s $ICP, TAO and Render have also experienced major boosts. AI tokens fueled by Nvidia see this common trend of surging which is most probably because of its fast-evolving tech. Meanwhile Apple is focusing on its Apple Intelligence suite to stay in the game.

The AI token space is also looking to change fast with its new integrations and debates on data privacy and computational power. Plus Trump’s pro-crypto stance could bring even better regulations in the future.

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AI-Powered Phishing Scams Take Aim at Crypto Users

Summary

Kaspersky’s AI Research Center says that cybercriminals are using Large Language Models (LLMs) to pump out tons of phishing and scam content. Their goal is simply to produce fake websites, especially to steal from crypto investors and wallet users. But there’s a trick that helps us differ these sites from actual legit ones.

Experts from Kaspersky’s AI Research Center claims to have discovered an increase in the use of Large Language Models used by cybercriminals, in order to scam people using large-scale scam and phishing attacks. They say these websites are created in bulks and every single one of them is specifically designed to lure the investors into their scam. But there’s a kick: every such website contains a distinguishable artifacts such as AI-specific phrases which makes them a bit easier to avoid. Reportedly, most of these phishing websites target users of cryptocurrency exchanges and wallets.

A big giveaway of such AI created sites is using phrases such as “As an AI language model…” and refusal to do certain tasks like, acting like a search engine or logging into sites, which are showing up on fake crypto sites targeting KuCoin, Gemini, and Exodus users. Another major giveaway is using phrases like “While I can’t do exactly what you want, I can try something similar,” this feels really obvious machine-made style of talk. According to Vladislav Tushkanov, threat actors can now pump out lots of these scam pages quickly with AI, filling entire sites, text, and even hidden tags with these tells.

But lately, cybercriminals have started to throw in non-standard symbols to dodge detection. Tushkanov further said that these AI powered scams are evolving rapidly, there are even records of AI writing malware scripts on their own, one way to defend is to catch AI made mistakes but even so, advanced security tools are must use. To stay safe, always double check links, type site addresses manually and only use modern security software.

STAKING AI Unveils No-Cost Crypto Staking, Bringing Staking Opportunities to Everyone

Summary

STAKING AI just dropped a game-changer with its new Free Crypto Staking Plan. This lets everyone from newbies to crypto pros in on earning staking rewards without risks of pushing any cash down. This daily, zero deposit staking option will make crypto more accessible to normies and even to the ones that don’t know crypto.

STAKING AI, one of the big names in PoS infrastructure space announced the release of its brand new Free Crypto Staking Plan. This plan provides crypto users with a risk-free entry into the staking world, where zero deposits are made which means it allows users to earn without any upfront investment. This plan mostly enhances new players’ staking experience and it is also beneficial for seasoned crypto users.

In short, this free crypto plan offers daily staking opportunities that doesn’t require any deposits, this makes it an ideal choice for anyone new to staking. STAKING AI says this mission will help expand blockchain’s access through its secure infrastructure and unique staking solutions.

Users require to sign up with their respective email, username and optional referral code to start accessing STAKING AI’s staking network which covers major assets and various staking plans. With such simple sign up users can enjoy Crypto Staking without risks. The company’s top tier setup guarantees non-stop access, worldwide reach and full time node support.

The platform also gives non-custodial delegation services, which basically means users have full control over their staked assets throughout the staking process. Additionally they use high quality PoS networks managed by a big international teams who work round-the-clock ensuring platform’s security.

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CryptoQuant CEO Predicts Bitcoin Will Become a Currency by 2030

Summary

CryptoQuant CEO Ki Young Ju believes Bitcoin will become considerably stable and less volatile by the next halving event in 2028, making the way for mass adoption. He also states the growing difficulty of Bitcoin mining and large institutional involvement may reach a point in future where Bitcoin will be used as a currency, he predicts this to happen by 2030.

Rising Mining Difficulty: A Positive Sign

The difficulty of mining Bitcoin has skyrocketed by 378% over the past three years, according to the data provided by CryptoQuant. Ki Young Ju, A CEO said that this surge is due to entry of large scale mining companies, backed by institutional investors.While this has made things difficult for small miners to compete but he views this as a positive development, suggesting it will lead to something greater providing stability in Bitcoin ecosystem.

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Institutional Influence in Bitcoin Mining

This institutional power is being driven by significant Bitcoin mining firms like Riot Platforms, Marathon Digital, and CleanSpark. In order to help pro-crypto candidates, these businesses recently established a political action committee and started a $2 million digital advertising campaign in strategic states. The crypto mining company TeraWulf also revealed plans to raise $350 million to fund its operations, underscoring the expanding significance of institutional investors in the Bitcoin market.

Bitcoin as Currency by 2030

Ju thinks that Bitcoin will be sufficiently developed to function as a low-volatility currency by the time of the 2028 halving event. He highlights that Bitcoin was initially intended to be “peer-to-peer electronic cash,” not merely a store of value, as Satoshi Nakamoto had intended. Ju believes that by 2030, stablecoins and more regulation will allow Bitcoin to play this role.

Radiant Capital Exploiter Moves $52M to Ethereum Network

Summary

An attacker moved $52 million in stolen cryptocurrency assets onto the Ethereum network after breaching DeFi lender Radiant Capital, perhaps to hide the money. While attempts are underway to track and freeze the monies, Radiant Capital has advised consumers to safeguard their assets.

Forensic Discovery

On October 24, blockchain analysis firm PeckShield reported that wallets linked to Radiant Capital’s attacker moved approximately $52 million worth of stolen assets, shifting the bulk of them from Arbitrum and Binance BNB Chain into the Ethereum network.

Exploit Details

The breach, which was first carried out on October 16, used a complex malware insertion in developers’ hardware wallets to target Radiant Capital’s Arbitrum network. The attack, which was described as “one of the most advanced in DeFi history,” cost 20,500 ETH in total.

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Laundering Methods

PeckShield noted that the funds could potentially be routed through crypto mixers on Ethereum, a common tactic to disguise stolen assets, which has been observed in other high-profile hacks this year.

Radiant’s Response

Radiant Capital urged users to revoke permissions to certain contracts through revoke.cash to prevent further losses. The team also stated that they are actively working with security and law enforcement professionals to recover the assets. This attack exposes a troubling pattern in DeFi, since previous September incursions at sites like as Indodax and BingX resulted in a total loss of $120 million in bitcoin hacks across the industry.

Over $100 million is lost by a Malaysian electricity company as a result of illicit bitcoin mining.

In brief

Tenaga Nasional Berhad (TNB), Malaysia’s national electrical provider, has disclosed losses resulting from illicit Bitcoin mining activities of approximately 440 million ringgit, or $101 million. According to Malaysia’s Criminal Investigation Department, TNB’s financial soundness has weakened significantly in recent years as a result of the ongoing fraud.

The Impact of Illicit Crypto Mining on the EconomySince 2020

TNB has lost a lot of money due to the illegal usage of electricity for Bitcoin mining; in 2023 alone, the firm lost 103 million ringgit. Losses started out at 5.9 million ringgit in 2020 but rapidly increased, reaching a high of 140.4 million ringgit in 2021 and continuing to do so until 2023.

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Rising Cost of Bitcoin Mining in Malaysia

In July, TNB highlighted that losses from unauthorized Bitcoin mining between 2018 and 2023 surpassed $755 million. Malaysia’s Deputy Minister of Energy Transition, Akmal Nasir, noted that although crypto mining represents a small fraction of total energy usage, it has a significant economic impact on TNB and the nation.

Seizures and Enforcement Actions

Authorities have seized around $500,000 worth of equipment linked to illegal Bitcoin mining and are investigating tax evasion using digital assets. TNB’s Criminal Investigation Department is looking into the causes of the increase in losses in prior years, especially in 2022 and 2023, in an attempt to remedy the ongoing issue.

Users Are Encouraged to Secure Wallets After $52M Is Transferred to Ethereum in Radiant Capital Hack

Summary

A recent sophisticated hack at Radiant Capital led to the theft of $52 million worth of cryptocurrency assets. Radiant Capital advised customers to secure their wallets after the thief transferred almost all of the stolen money to Ethereum, according to blockchain security firm PeckShield. The platform is now working with cybersecurity experts and authorities to track and recover the funds.

PeckShieldAlert X (formerly twitter ) post.

Radiant Capital’s $52M Transferred to Ethereum

On Oct. 24, blockchain forensic firm PeckShield reported that a hacker associated with Radiant Capital had moved approximately $52 million in stolen crypto assets to the Ethereum network. The addresses connected to the hacker transferred nearly all funds from Arbitrum and Binance’s BNB Chain, totaling around 20,500 Ether.

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Details of the Radiant Capital Exploit

Radiant Capital, a decentralized finance (DeFi) lender, was targeted on Oct. 16 in a malware-based hack described as “one of the most sophisticated hacks ever recorded in DeFi.” Attackers compromised the hardware wallets of three Radiant developers, leading to losses exceeding $50 million.

User Advice: Remove Permissions from Your Wallet

Radiant Capital advised its users to use revoke.cash to remove permissions on impacted contracts in order to stop future misuse in the wake of the incident. With the words, “This is not optional—take one minute to protect your assets,” they gave users a list of compromised contracts and urged them to act immediately.

DeFi Space Sees an Increase in Crypto Hacks

PeckShield claims that losses from bitcoin hacking have escalated, with losses across numerous DeFi networks in September 2024 alone amounting to over $120 million.The growing security concerns in the decentralized banking industry were highlighted by the same thefts that affected other websites, such as BingX, Penpie, and Indodax. Radiant Capital continues to collaborate with cybersecurity experts and law enforcement to recover the stolen funds and improve company security.

Flare from Google Cloud Offers Cheap Blockchain Nodes

In conclusion, Web3 developers can now easily and economically install blockchain nodes with Flare Network’s Blockchain Machine Images on Google Cloud. This solution supports popular networks including Avalanche, Ethereum, and Bitcoin.

Launch of the Blockchain Machine Image

Flare Network unveiled its Blockchain Machine Images solution on October 25. It provides a useful node-as-a-service choice via Google Cloud. This application makes it possible for developers to quickly establish nodes for networks like Avalanche, Ethereum, and Bitcoin, which streamlines and speeds up node maintenance.

Affordable node services

At about $300 per month, a dedicated Flare node for Blockchain Machine Images is a cost-effective option for companies. Comparable services can cost up to $2,000, which is far less than this. Remote procedure calls (RPC), data indexing, and unlimited workloads make the platform popular for a wide range of applications.

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Improving the Flare Ecosystem

The service also supports Flare’s attestation providers, who safeguard and validate the network’s external data sources, including Bitcoin. According to Josh Edwards, VP of Engineering at Flare, Blockchain Machine Images will facilitate infrastructure maintenance and ensure consistent data access across Flare’s ecosystem for these crucial businesses.

AI Bot Strikes Gold: Turns $1.5K into $1.88M in Only 5 Hours

Summary

An AI trading bot called Tee Hee He just pulled off a madness by turning a mere $1.5K into a staggering $1.88 M in a matter of just 5 hours. After Truth Terminal, this is another bot that has become a millionaire. It managed to reach such a milestone by mainly adopting crypto trading and investing in a Solana coin called $TEE.

AI chat bots have become the best friend of any crypto trader and has managed to be a wonderful alibi for crypto trading industry. In the last couple of years, Artificial Intelligence has transformed the way trading works, as it reduces all of the hassle to keep oneself updated and any information needed can be learned by just a single question. They have proved themselves to be very useful by their amazing data analytics, problem-solving, and hundreds of other features. Even so, AI buying tokens by itself and becoming a millionaire without any human supervision is new. Firstly, Truth Terminal became the first AI millionaire and now Tee Hee.

Reportedly, Tee Hee He became a millionaire in just hours after investing on a token similar to GOAT, called $TEE. It is a Solana coin that the bot spent somewhere around $1.5K, but surprisingly that token boomed, multiplied more than 100 times within just few hours. This made its holders heavy profits and instant rich, one of them was Tee Hee. It is reported that its first $1.5K became $1.88 M, many investors with years of experience face challenges in making decent gains and here’s this bot that’s earning millions in hours. This really shows how far AI chatbot agents have come.

As Truth Terminal uplifted Goatseus Maximus (GOAT), Tee Hee He also may also do similar with TEE tokens and boost its price even further.

Blockchain Democracy App Released by Georgia Opposition Party Prior to Elections

In brief The United National Movement has introduced United Space, a blockchain-based application intended to encourage civic engagement and voter turnout by providing incentives for participation, ahead of Georgia’s parliamentary elections. The app, which is powered by Rarimo, presents a liquid democracy paradigm and allows anonymous voting.

Blockchain Voting with United Space

In a move to address low voter turnout, Georgia’s United National Movement, an opposition party, has launched United Space, a blockchain-powered identity app. United Space leverages the Rarimo zero-knowledge protocol to reward citizens for participating in democratic processes and enable anonymous voting. The party plans to better link United Space with the country’s Public Service Hall in order to investigate experiments with Universal Basic Income and other digital governance alternatives if elected.

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Voting Security and Anonymity

Rarimo’s Freedom Tool, a zero-knowledge proof technique for confirming citizenship, is the foundation upon which the app is based. Voters can take part in the democratic process with unparalleled privacy by uploading their encrypted identification documents onto a safe, on-chain registry. Given Georgia’s political unrest stemming from authoritarian worries, this degree of anonymity is essential.

Civic Involvement and Benefits

Through a points system, United Space promotes greater civic engagement in addition to voting. By participating, citizens can accrue points and become stakeholders in strategic assets and public services. While Kitty Horlick of Rarilabs highlights the app’s function in transforming citizens into direct stakeholders in public resources, Giorgi Vashadze, MP and head of the United National Movement, views United Space as a tool to strengthen democracy in Georgia and beyond.

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