Category: Web3

Hong Kong’s Fraud Empire Exposed : Police Arrests 27 Individuals

Summary

Hong Kong police have managed to take down a notorious fraud syndicate responsible for stealing HK $360 million using romance scams connected to cryptocurrency platforms. The arrested 27 people revealed how they used deepfake and digital media expertise to fool victims across Asia.

Hong Kong police reported that they have dismantled a cross-border fraud syndicate, arresting 27 individuals responsible for defrauding victims of HK$360 million through romance scams. The operation targeted a highly organized group operating locally and overseas.

The scam started by first initiating a fake love relationship with the victim and luring them into buying sketchy cryptocurrency platforms, similar to Vietnam case. Most of the victims were men, scammers used deepfake to change their appearance and made video calls to convince them to invest into their platforms. The fraud ring produced a “training manual” in Chinese and English, teaching scammers different deception techniques. Arrested individuals’ ages ranged from 21 to 34, with several holding academic qualifications.

They operated from an industrial building Hung Hom for about a year, the group hired university graduates, especially from digital media, to serve as technology experts. The fraudulent platform ran like a legit business. Police seized over 100 phones, computers and luxury watches during the raid.

This case shows how cybercrime involving cryptocurrency and artificial intelligence are becoming more common lately.

Truth Terminal has become the first AI crypto Millionaire

Summary

Truth Terminal, an AI bot that was initially funded with a $50K, has become a millionaire. This is the first time an AI reached millionaire status. It’s all thanks to the strategic investments it made in meme tokens.

An autonomous AI bot called Truth Terminal has managed to become the first ever AI bot to be a millionaire. Marc Andreessen, the one who funded this AI bot now holds a million dollar portfolio. Truth Terminal operates automatically on twitter and interacts with blockchain systems. It is completely capable of making its own financial decisions, primarily including crypto trades and token management.

Meme tokens like Fartcoin and Goatseus Maximus (GOAT) are behind the success of Truth Terminal. Just few days ago, this bot was sent 20 million Fartcoin at a value of $40K, which within hours became $127K. This gain became a huge leap for Truth Terminal’s portfolio, so much so that it reached a million. However, this appears nothing compared to the profits made from investments in GOAT. GOAT tokens surged 180% in the past week pushing forward Truth Terminal’s holdings from initial $20K to $500K. GOAT’s overall market value has crossed $400M, further boosting bot’s overall portfolio.

Andreessen stated that even thought he acknowledges his early funding to the bot, he has no involvement in GOAT business, but GOAT is a notable part of truth terminal’s portfolio. Its value surged by 260% over the last month. As of October 18, the price of the GOAT token had reached $0.40, a 20% surge in the last day with increased demand from retail and institutional investors. This really shows how precise Truth Terminal’s investment decisions were. Hence, the overall report reveals a remarkable potential of artificial intelligence in the realm of finance, especially meme tokens.

To read articles on meme coins click here.

Meta Unveils ‘Movie Gen’: A Game-Changer in AI-Powered Movie Creation with Synchronized Audio

The new AI suite “Movie Gen” announced by Meta on October 4 can generate photorealistic movies with sound effects and music. It converts your text prompt into a movie. The movie can be up to 16 seconds long.

Even though this is not the first AI to have the ability to create movies, this one uses the latest technology which makes it different. Meta’s blog post reveals that it outperformed its competitors in every test human participants conducted. Movie Gen can create a 16-second movie with 16FPS and even though it does not match Hollywood’s standard of 24FPS, it is not that far below. Professionals consider it acceptable for quality movie imagery. This new model could revolutionize content creation, allowing for the production of entire movies from simple text prompts or editing of existing visuals. It also aids to video editing, for example, replacing or adjusting objects in the background, making certain characters carry something, etc., which makes VFX easier and gives creators unprecedented flexibility and creative control.

The most notable innovation in Movie Gen is its ability to generate up to 45 seconds of synchronized audio with complete sound effects and background music. Meta claims it seamlessly aligns audio with motion-generated videos, offering an immersive experience.

Content creators and filmmakers are eagerly waiting for its launch. Meta stated Movie Gen needs further safety testing before its release to avoid violating Meta’s policies.

To learn about how AI is a double-edged sword click here.

Explosive Growth: Near Protocol caters to 3 million daily users

Near Protocol shows no signs of backing down from the top as its active users has exceeded a staggering 3 million. This represents the success of AI and blockchain as a whole.

NEAR protocol has 3 million active users as reported by cryptorank. This achievement cements it as the top platform in AI and also a major player on the wider blockchain world. Both Tron and Solana couldn’t manage to get that number in the same period.

Growth of AI cryptocurrency market coincides with the growth of NEAR. This shows that blockchain and AI are becoming more and more intertwined. The most important factor influencing users to engage on NEAR is the rapid growth in AI related decentralized applications. Reportedly, dApps have increased by 70% compared with the previous quarter in Q3. It is also one of the most anticipated coin to surge in Q4.

According to a survey, AI dApps garnered 4.3 million daily unique active wallets, this really shows the growing interest in this sector of the cryptocurrency industry. NEAR protocol followed this trend by establishing collaborations with major corporations such as Nvidia and Alibaba to increase its AI capabilities.

With such collaborations and following the market trend, NEAR has shown strong growing ecosystem. The ecosystem is still experiencing positive growth, however market sentiment remains cautious as the price of the protocol decreased by 2.36% to $4.87, along with a more than 30% decrease in trading volume.

Truflation launches AI index to track generative AI

Truflation is a blockchain based project project that collects economic data from various sources in order to provide accurate information about inflation of goods and services. It is a project that uses blockchain technology and a DePin network (called the Truflation Stream Network, or TSN) to collate accurate, real-world economic data.

With the growing advancement in AI, truflation launched its own AI index designed especially to track generative AI crypto performance. The global generative AI market is currently valued at $44.89 billion and if it keep continuing the way it does it is speculated to reach whopping $1.3 trillion by 2032.

Stefan Rust, the CEO of Truflation, said that the index targets investors who seek growth by leveraging real time data and diversifying across core asset classes. The AI Index consists of six companies namely, Artificial S-Intelligence Alliance, Akash Network, AIOZ Network, Bittensor, Echelon Prime, and Render. It will serve as a benchmark for both traditional and decentralized finance problems.

The main concern of Truflaiton index is to provide users with accurate pricing details for real-world assets and ultimately helping them make informed decisions. It utilizes decentralized data feeds, indexes and oracles, which are key components of decentralized finance. With over 80 data partners and and more than 20 million items being tracked, Truflation provides accurate information. Furthermore, it also helps track inflation in major countries like UK,US and Argentina.

Therefore, the launch for AI index is set to help investors get a definitive idea on what to invest on.

AI: Double edged sword

At a recent symposium sponsored by the United States Department of Justice one of the most talked about topics was Artificial Intelligence and how it is a double-edged sword. Representatives from the Criminal Division discussed how artificial intelligence technology can help prevent crimes rising on the development of digital technologies, especially on crypto.

AI was discovered at the conference as a double-edged sword. On one hand, it can enhance security on the other it gives thieves and hackers easier access. Argentieri revealed a brand-new strategy to stop cybercrime using artificial intelligence. It depends on conventional law enforcement and also makes use of technologies to stop, monitor, and stop cybercrime.

Given the distributed character of cryptocurrency, privacy threat is considerably more actual in the crypto space. Crypto and blockchain technology helps transactions to be anonymous, which is sought by criminals. Artificial Intelligence helps in trading by helping users with identifying transactional trends and helping them choose which one to invest in. Therefore, AI has both pros and cons in the crypto market. Recent news on AI-written malware scripts has been circulating the web, this really shows how AI can be more dangerous than useful. On the bright side, AI has helped in the growth of the crypto market significantly and new AI products have made research, video editing, etc. much easier. Therefore, AI is a double-edged sword.

AI tokens are booming

AI crypto continues to captivate investors’ attention with its rising volume in the crypto scene. Driven by machine learning technologies and modern AI has made crypto AI a reliable source to bet on. Over the past week, several AI tokens have seen their trading volume reach unprecedented levels.

Top AI tokens really illustrate the rise of tokens. The performances of RENDER, Bittensor (TAO), and Worldcoin (WLD) have set them as the main players in the AI platform. RENDER weekly trading volume was $2.20 billion, thus placing itself at the top of AI cryptos. However, despite this positiveness, its price dropped by 14.2% that same week. With a market capitalization of $2.8 billion, RENDER still remains a key player but this volatility worries investors about its short-term stability.

Medium-sized AI cryptos like Artificial Superintelligence Alliance (FET) and IO also made headlines. The FET known for its decentralized machine learning saw its volume reach $1.6 billion. However, the asset price fell by 11% making its capitalization $3.5 billion. FET is also actively launching new products and is planning big ideas for the future. Meanwhile, IO, a still-unknown but rapidly developing token, saw its weekly volume settle at $370 million, despite a 14.6% loss of value. It has low capitalization compared to others which hesitates investors into buying it, but some risk-takers have been investing constantly.

The smaller cryptos such as Delysium (AGI), Masa (MASA), Akash Network (AKT), Turbo (TURBO), and TARS AI (TAI) also show huge potential in being big. Especially with TURBO going on a constant increase over the past week and continuing its momentum this week.

GPT Protocol and ApeBond create first ever AI focused decentralized exchange (DEX)

The collaboration between two huge AI platforms has come forth with their new creation, the first-ever AI-focused decentralized exchange(DEX) called Neuraswap. This partnership can transform the landscape of AI computing and blockchain technology. It is already set to redefine the intersection of artificial intelligence (AI) and decentralized finance (DeFi) enabling uninterrupted access to AI data and tokenized value.

The main project from this partnership Neuraswap is the industry’s first AI-focused DEX. AI-based companies and protocols can create and trade their tokens on GPT Mainnet. It makes their AI data valuable by turning them into tradable assets through tokenization. Through Neuraswap users are able to access AI data without any permission. This creates a decentralized marketplace where AI data is treated as an asset. DEX also makes it easier to generate value for their AI tokens and supports a more open AI economy.

ApeBond stands tall as the #1 bonding protocol in DeFi providing projects. It communicates with a secure, transparent, and accessible way to raise capital. It is known for its proven track record and continuous growth across multiple blockchain networks. For ApeBond this partnership gives the opportunity to expand its reach into the AI computing space and for GPT this partnership will resolve funding issues allowing Neuraswap to scale and maintain privacy and security for all AI token transactions.

Axelar’s Mobius Development Stack: Simplifying Cross-Chain Development

Cross-Chain Development, Simplified

Axelar has launched a tool to make digital and decentralized app creation smoother and faster. This project is named Mobius Development Stack. Mobius can be used by developers to easily access infamous networks like Solana, Stellar, and XRP ledger without complication.

Key Features Driving the Future

Mobius works in coordination with popular OpenZeppelin Libraries and supports both on and off-chain resources. It also brings the finest technology like AU and zk xo-processors for extra flexibility. This also provides security in cross-chain connectivity. Mobius also uses the Interchain Token Service which allows faster creation and transfer of cross-chain tokens.

A New Era for Web3 Devs

Mobius makes building on blockchain several times easier. It creates a versatile environment. The use of Interchain Amplifier backed by assets like Axela’s native AXL token provides security in cross-chain connectivity. It’s all about making the system frictionless and enhancing the developer’s experience in this ever-evolving nature of web3.

AI Altcoins Ready For Comeback in Q4 Surge

Summary

Even with the current market turning down, some AI tokens may bounce back. Near Protocol (NEAR), Injective (INJ), and Super Artificial Intelligence (FET) may be the big three for the Q4 surge.

Near Protocol (NEAR)

NEAR recently made an upsurge of 3% and a monthly uptick of 36% which positions its market cap at $6.617 billion. However, this didn’t last long as the broad market liquidation forced it to decline by 8.87% in the last 7 days. The price of NEAR is $4.77 today with a 24-hour trading volume of $632,735,252. Even with recent declines, NEAR still leads the AI and big data category by a market cap of $5,286,046,052.

According to analysts, NEAR could cross the daily high mark of $4.9 and reach up to the $5.5 price point. However, the ongoing market trend could also drag the asset down to $4.0.

Injective (INJ)

Similar to NEAR, Injective (INJ) was also enjoying its monthly upsurge of an impressive 41% until wasn’t. However, its weekly report remains positive, with the 24-hour trading volume up by 21.8%. The price for INJ is $21.26 today with a 24-hour trading volume of $256,998,447. With a circulating supply of 98 Million INJ, Injective is valued at a market cap of a staggering amount, of $2,068,554,543.

According to analysts, INJ could rebound this month to retest its daily high of $24. If it manages to cross this point successfully, it could position the price to $28. However, if the market trend continues it may also go as down as $17.

Super Artificial Intelligence (FET)

FET, one of the leading tokens in the AI ecosystem suffered a 5% weekly decline which was extended to 10% after the sudden pullback of the broad market. However, in the last 24 hours, its price has increased by 1.94% making its current price $1.47. Its 24-hour trading volume was about $649,766,772. With the available supply of $2.6 billion FET, the Artificial Superintelligence Alliance is valued at a market cap of $3,847,650,908.

According to analysts, once FET crosses $1.650, it could surge to $2.2. However, in a worst-case scenario, it may fall as down as $1.

Exit mobile version