Crypto & NFTs Today: The Latest Blockchain News For March 8 – 14

Welcome to a different version of Crypto NFT Today! If you are into cryptocurrency, NFTs, and using emotional, and typically nebulous rollercoasters, you’ve got come to the suitable place. So placed on some soothing music and let’s go!

“White Hat” who returns stolen cash to Get $97,000 reward

A hacker behind the who stole funds price $1.59 million from decentralized monetary lending platform has collected a $97,000 “bounty” for returning the funds. confirmed the exploit, which was carried out on March 7, on Twitter, citing “an unusual number of loans”. It then suspended all loans.

Data on the Blockchain revealed that the hacker was in a position to exploit an oracle pricing flaw to steal the funds by depositing only one GMX token, price simply $71. “It looks like your oracle is misconfigured. please contact me to resolve this,” the hacker wrote in an on-chain message.

Less than 9 hours later, the DeFi protocol revealed that it had entered into an settlement with the hacker for the return of the stolen funds, minus a bounty of 62.16 ETH, price roughly $97,000. DeFi characterised the hacker as a “White Hat”.

AI-generated NFTs displayed within the Louvre

An artist utilizing AI to create NFTs is exhibiting her newest assortment on the Lourve Museum in Paris. Claire Silvers assortment is titled “Can I Tell You a Secret,” is an “autobiographical series of 100 post-photography pieces created with AI,” in response to Variety.

Silver beforehand signed with world-renowned expertise company WIlliam Morris as the primary AI artist. “We will bring AI art to mainstream culture together,” she tweeted in regards to the collaboration.

William Morris has a rising checklist of NFT artists, together with Dapper Labs and CryptoKitties co-founder Mack Flavelle, NFT gallery Bright Moments, NFT mission Non-Fungible Heroes, NFT startup Boss Beauties, and NFT artist Valfré are among the many checklist with Web3 expertise.

Meanwhile, NFT artist Refik Anadol is exhibiting his AI-generated artwork on the New York Museum of Modern Art (MoMA). The short-term set up is known as ‘Unsupervised’ and can run till April 15.

SEC accuses Bkcoin of $100 million ‘Ponzi-like’ fraud

On Monday, the US Securities and Exchange Commission (SEC) introduced that it had filed an utility “emergency action” to Kevin Kang, a senior funding advisor for Bkcoin from Miami. The SEC is accusing Bkcoin and Kang of “orchestrating a $100 million crypto fraud scheme,” including “it successfully secured an asset freeze, the appointment of a trustee, and other emergency relief.”

The emergency motion describes that from October 2018 via September 2022, Bitcoin raised roughly $100 million from no fewer than 55 crypto asset traders.

“Bkcoin and Kang assured investors that their money would primarily be used to trade crypto assets and represented that Bkcoin would generate returns for investors through separately managed accounts and five private funds,” the SEC mentioned.

But as an alternative, in response to the SEC, “The defendants ignored the structure of the funds, mixed up investors’ assets, and used more than $3.6 million to make Ponzi-style payments to fund investors.”

Amazon goes to launch NFT Marketplace

On April 24, retail big Amazon is reportedly launching an NFT market. known as the platform, Amazon digital market will market 15 NFT collections and likewise provide NFT rewards to prospects for actual world property bought from Amazon.

Credit Joe Piette through Wikimedia

CEO Andy Jassy has expressed certified assist for crypto and NFTs, saying, “I count on NFTs to proceed to develop very considerably. We are in all probability nowhere close to including crypto as a cost mechanism in our retail enterprise, however I consider that crypto within the will get greater over time and — it is doable Amazon will combine crypto funds.”

Last month, Amazon funded the NFT platform Superplastic with a $20 million Series A purchase order. The transfer is seen as proof of Amazon’s technique of utilizing Web3 know-how.

In January, Amazon’s AWS cloud service partnered with Ava Labs to speed up blockchain know-how adoption, permitting customers to run Avalanche blockchain nodes with a single click on.


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