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Showing posts with label Dogecoin. Show all posts
Technology
Crypto Currency Dogecoin Elon Musk NFTs Technology

Elon Musk Backed Floki Turns Rs 1000 Into Rs 34 Lakh

 

Everyone knows that at the start of this year, Musk was one of the most vocal proponents of Dogecoin. His regular pronouncements and tweets propelled the cryptocurrency to new heights. Tesla CEO Elon Musk, on the other hand, stated in June that he will be getting a Shiba Inu dog (the face of Dogecoin) as a pet shortly, and that it will be named 'Floki.'

In September of this year, Musk shared a photo of Floki, which sparked another surge in the Dogecoin. This benefited all the linked or inspired coins, such as Baby Doge and Shiba Inu. Floki Inu, on the other hand, has been the largest gainer, with significant returns to its investors. Surprisingly, the coin didn't even exist until recently. 

The digital token has risen 3,40,150% in just two months, from $0.00000002 on August 8 to $0.00006805 on October 8. In rupee terms, this implies it turned a Rs 1,000 investment into Rs 34 lakh in less than two months. As of Sunday, Floki Inu had a market capitalization of $700 million (Rs 5,250 crore), which was higher than that of listed companies such as Sequent Scientific, Strides Pharma, Inox Leisure, Cochin Shipyard, Sudarshan Chemicals, MTAR Technologies, and others. 

Floki Inu is also the only crypto project officially affiliated with Elon Musk's brother Kimbal Musk's 'Million Gardens Movement,' which aims to empower people to choose, grow, prepare, and consume healthy food. In a contribution drive for this movement last week, Floki Inu raised $1.4 million in just 35 minutes. Floki Inu issued 10,000 Flokitars to the general public on September 18, 2021. 

Floki Inu is riding high on the play to earn revolution, which resonates with millions around the world, according to Sharat Chandra, Blockchain & Emerging Tech Evangelist. This explains the coin's unprecedented pricing. 

"It’s going to head north in the days and months to come. Team behind Floki is focussed on developing an ecosystem of use cases powered by NFTs, games, decentralized banking and creating new monetization models," Sharat said. 

According to Darshan Bathija, Co-Founder and CEO of Vauld, "the way this meme coin is being regarded has radically changed over the last six months as they have grown more mainstream." If a coin's price movements are influenced by a big external source, it poses a greater concern and investment risk, Darshan added.
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Whale Address
$12 Billion Crypto Currency Dogecoin Elon Musk Technology Whale Address

Who Could be Behind the Whale Address that Owns Dogecoin Worth $12 Billion?

 

After the sudden spike in cryptocurrency this year, news outlets and various traders have been thinking about who might be behind the famous and exceptional Dogecoin with the whale address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, which is worth 12 billion dollars. It has mined 36.7 billion Dogecoins since 2019 and has a world demand of dogecoin of around 28%. 

Although it's fun to speculate that the aforementioned address belongs to a single person who suddenly accrued billions of dollars of the same meme cryptocurrency, Dogecoin. While Patrick Lodder, a dogecoin core creator, said that it more likely seems that the cryptocurrency address resembles some cryptocurrency exchange. 

Dogecoin is a crypto-monetary developed by Billy Markus and Jackson Palmer, software developers, who wanted to build a payment system like a prank, using wild speculation in cryptocurrencies at the time. Some regard this a valid investment opportunity, despite its humorous existence. 

Dogecoin's value has dropped significantly in recent days as China has imposed a ban on cryptocurrency trading, which is one of the primary reasons for the drop. Tesla and SpaceX's CEO Elon Musk, who mostly supports it on his social media pages, was primarily responsible for the development of the spike. 

While it’s no doubt that the story behind this meme cryptocurrency – Dogecoin must be the most interesting one but with the ongoing tweets from Elon Musk, his fans would connect the most to it. 

Lodder, who has worked with Dogecoin since 2014, has explained that everyone can deliver Doge to a publicly listed address so cash entering an address is no "clue" in the identification of the address unless its value increases significantly. 

"These are all jokers, that probably has nothing to do with the operator of the wallet, that's just people having fun," he said. 

CoinDesk's research head claimed that the inert activities could also state that the whale is not an exchange but simply a person. However, Lodder said that this form of operation implies that the address is cold storage for an exchange. An exchange that takes care of several Dogecoin probably will not keep it on the server and rather will discharge its assets into a more secure offline warehouse like a cold storage wallet. 

"This looks like somebody getting a lot of money into custody and putting that into a cold storage wallet so that it's more secure," Lodder told Business Insider. 

Many assumptions to whom the address may belong have indeed been published on various online forums. Similarly One of the Reddit accounts suspects this whale address could be one of the several dogecoin addresses of Robinhood. The user tracks data mostly on-chain and assumes that the address is one of the cold storage wallets of Robinhood. Whereas some believe that the address belongs to the father of dogecoin- Elon Musk. 

Such rumors', Lodder said, may theoretically be dangerous for a doge-like cryptocurrency. He added that there indeed is speculation that a whale might make people sell their doge in a hope that the whale would also dump all their doge. 

He said that if the address were part of an exchange, it would be helpful if the exchanges were to take place. Most cryptocurrency exchanges do not reveal their dogecoin or various other cryptographic addresses. 

"It would be helpful for the dogecoin community, not even just doge but all crypto, if there was a good way to either independently verify that the books of a custodial exchange are in order, or to have an audit report from a professional firm that does the audit and certifies that everything is fine," said Lodder.
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Technology
Bitcoin Crypto Currency Dogecoin FBI Investors Scamming Technology

DeFi100, a Crypto Project, Allegedly Scammed Investors of $32 Million

 

According to reports and tweets, DeFi100, a cryptocurrency project, allegedly defrauded investors out of $32 million (roughly Rs. 233 crores). The project has now released a denial of the allegations, but some skepticism appears to still exist. After a very distasteful message appeared on their website on Sunday, rumors of people behind the project fleeing with the money began to circulate. The message on the DeFi100 website read, "We scammed you guys, and you can't do **** about it." DeFi100 has since clarified that their website has been hacked and that the hackers had placed the post, which has since been removed.

“DeFi100 coin exit scams, and runs away with $32 million, and leaves a message for all of us. Feels like the summer of 2017,” tweeted Cryptokanoon, co-founder Kashif Raza. 

DeFi100 is a cryptocurrency similar to Bitcoin, Dogecoin, and Ethereum, among others. It is, however, much less well-known than the other well-known digital assets. The website was still down at the time of publishing. “Oops, looks like the page is lost. This is not a fault, just an accident that was not intentional,” is what it says now. 

On Sunday, the crypto project announced on its official Twitter account that it had not exited as previously thought. “Firstly, total supply of D100 at present is less than 4 million tokens. At the beginning of the project, total supply was 2.5 million tokens. Secondly, D100 was never a yield farming protocol, which was holding investors funds with TVL over 32 million,” it said in a tweet. 

“Thirdly, total tokens sold during IDO were 750,000 at $0.80 per token. These facts are available in public for checking their authenticity. The rumours of stealing $32 million are absolutely false and baseless," it added in the subsequent tweet. "We reiterate it again that we have not made any exit." 

Although the DeFi100 founders have stated that they did not defraud the investors, nothing can be said before the website is up and running again. The value of D100, DeFi100's native token, has dropped 25% in the last 24 hours to $0.08, according to a Coindesk article (roughly Rs. 6). 

The reports of DeFi100 developers defrauding their investors came just days after the FBI, the US's main law enforcement agency, announced that it had received a record 1 million complaints related to online scams and investment frauds in the previous 14 months.
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Twitter ads
cryptocurrency Cyber Fraud Dogecoin Scammers Twitter Twitter ads

Twitter Ads used by Scammers to Promote Fake Cryptocurrency

 

One must pay attention to all Twitter advertisements that propagate all kinds of the falsified cryptocurrency scam. Tweeters can "promote" an existing tweet in order to promote their own services and information, by showing it to other followers or users on Twitter. The scammers' report on Twitter checked accounts supporting bogus cryptocurrency scams. The scams are allegedly made under the name of these well-known individuals or companies such as Elon Musk's Tesla, Gemini Exchange, Chamath Palihapitiya, and Social Capital. The threat actors have indeed been unbelievably successful with a round of attacks raising over $580,000 in a single week. 

If anyone receives messages from Tesla, Elon Musk, Gemini exchange, Palihapitiya Chamath, Social Capital, or other famous cryptocurrency donations – individuals or companies, they must go as far as they can from such types of posts, because the handles are compromised, and they are scammed. 

Since these scams continue to produce revenue by plundering thousands of dollars via the promotion of Bitcoin, the threat actors are also beginning to threaten other recent prominent cryptocurrencies, including Dogecoin. Dogecoin is the cryptocurrency of Billy Markus and Jackson Palmer, software engineers, who wanted to build an immediate, enjoyable, and conventional banking fees-free payment system. Dogecoin has as its emblem and its name as the face of Shiba Inu dog from the "Doge" memes. 

Twitter users are able to "promote" an ongoing tweet by paying for it being displayed to many other users in their Twitter feeds to advertise its services and content. Security researchers such as Zseano, Jake, and MalwareHunterTeam have found a new technique that crypto-currency fraudsters use, i.e. via tweets on Twitter. 

The technique comprises of the splitting up of URLs so as not to differentiate them by the Twitter algorithms of advertising for fraud. This then brings users to fakes landing pages which have been the social capital; exchanges between Tesla and Gemini, etc. and leads the user to additional real websites with the topics of Tesla or Elon Musk and an address with a Bitcoin, Dogecoin, or Ethereum. Besides, users can send coins to the address and they will actually increase the sum in return. 

Based on some of those scams, a total of $39,628.06 so far has been raised through the use of Bitcoin and Ethereum addresses. Unfortunately, several more cryptocurrency addresses are currently used by scammers, so the created sum is significantly greater. It doesn't mean that it is secure, only because the crypto app is in the app store. Recently, a Trezor-named application has been uploaded to the Apple store. Later, it was discovered to be a scam and the software has been used for phishing passwords and private keys.
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Security Breach
Database Compromised Dogecoin Featured hacker news Security Breach

Doge Vault hacked, 121 Million Dogecoin appears to be stolen


A Popular Dogecoin online wallet service DogeVault has reportedly been infiltrated by cyber criminals, millions of Dogecoins missing from user's wallet.

A note on the front page of the website(www.dogevault.com) says DogeVault service compromised by attackers on May 11, resulting in a service disruption and tampering with wallet funds.

The website has not provide much information about how much they lost in the heist.  However,  Some users at reddit reported that coins have been transferred to a newly created mega wallet.

According to Dogechain records, this wallet (DHKM6NDUUv9kaHAGi1QU7MRBNKfQiAdP3F) has more than 121 million Dogecoins that is about $56,000 dollars.

"We are currently in the process of identifying the extent of the attack and potential impact on user's funds" The statement on the website reads.

DogeVault suggests users not to transfer any funds to Doge Vault addresses until they finish the investigation.
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Virtual Currency
Dogecoin Hacking News Security Breach Virtual Currency

Dogecoin hacked, 21 million coins stolen


Dogecoin, a virtual currency described as potential successor to the Bitcoin, has been hacked and 21 million coins stolen from the DogeWallet.

The value of Dogecoin is very low comparing to Bitcoin.  The current value is around $0.0057, means the coins lost in the heist are equivalent to about $12,000.


After analyzing the logs, they found that hacker gained to their filesystem and modified the send/receive page to send to a static address.

"We're incredibly sorry to all users who lost funds from the attack. Please use offline wallets as online wallets are meant for new users who aren't using them as a storage of coins" Reddit post suggest users to use offline Wallets.

"Offline wallets are more safe and secure than any online wallet due to possible attacks that can originate from anyone, anywhere."

Dogecoin promised to refund all lost coins.  However, they said in a reddit post that "refunding temporarily halted in the meantime. Even though millions of dogecoins have been returned, there's a lot of users will smaller amounts of Doge that need to be refunded."
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