In the hours before The Ethereum Merge takes place, scammers have come out in full force, attempting to steal funds from users. Investors do not have to do anything with their ETH for The Merge, should not click on any suspicious links, or interact with fake accounts.
The Ethereum Merge has brought scammers and impersonators, with social media being flooded with bad actors trying to capitalize on the event. Several types of scams are taking place on Twitter and other channels, and users are being warned not to fall for them.
One of the most common types of scams, which has existed for many years, involves bad actors impersonating Vitalik Buterin and providing links under the guise of giving away free ETH. These links mislead individuals into giving access to their crypto wallets.
They go to the lengths of using Buterin’s image as the profile picture — but looking at the Twitter handle itself, one can see that the names are different. Buterin has only one account on Twitter — @VitalikButerin — and users are advised to dismiss other accounts. The Ethereum co-founder himself has said on multiple occasions that there are no giveaways and asked users not to fall for scams.
Another popular type of scam is the phishing attempt. Many websites have popped up, targeting unwary users, and PeckShield has warned users of the websites and scams. The security company has also cautioned users not to fall for these phishing attempts.
Celsius Network had filed for bankruptcy following arguably the largest network collapse in the history of crypto. The lending platform had been caught in the crossfire, and further reports showed that it had a $1.2 billion hole in its balance sheet. The company, which has been going through bankruptcy proceedings in the US Bankruptcy Court […]
DeFi continues to shake up the crypto world. GameFi is revolutionizing traditional gaming. But what about SocialFi? A combination of social media and decentralized finance (DeFi), SocialFi is the latest Web 3.0 innovation. Short for ‘social finance,’ the approach empowers content creators, influencers, and digital users who want more control over data. Social media platforms have grown to be one of the largest players in the Web 2.0 world. Research shows about 59% of the globe’s population uses social media. Unsurprisingly, data reveals digital activity rose dramatically amid COVID-19 lockdown periods. User behavior also shifted as people spent more time on social media, messenger services, and mobile apps. Despite the massive popularity of platforms like Facebook, Twitter, and Instagram, many worries these social media giants have become too centralized. Concerns are the entities and shareholders reap the rewards of content monetization. In short – worries remain that “if the product is free, you are the product.” How SocialFi Aims To Break The Power Of Centralized Social Media The building blocks of SocialFi aim to empower social media users to monetize brand equity, maintain digital data ownership, and foster a decentralized curation process where platforms can not unilaterally pick-and-choose content. Programmable NFTs are one of SocialFi’s most useful tools. Acting as unique digital identifiers, users can customize their virtual identity and even sell and rent content as NFTs. For example, a SocialFi user could immediately convert an impactful message into an NFT with just the click of a button. Many artists, creatives, and animators are heralding the arrival of SocialFi. Traditionally, these groups have found it very difficult to keep track of how their work is shared and used online. Digital piracy and manipulation also remain a large issue. Influencers and creatives also struggle to cultivate their own brand identity on social media platforms and then monetize their brand equity to generate income. Traditional social media platforms have made it hard to translate social credibility into dollars. With SocialFi, creatives can build brand equity with their own tokens, and even build a mini-economy surrounding it. Users can build subscription models in these tokens to unlock access to premium content. Designers, painters, and artists who sell their work can easily track where it goes to ensure unscrupulous users are not trying to copy, steal, or manipulate creations. Storytelling And The Power Of Creativity Within SocialFi All of these factors help open up new realms of financial autonomy for digital users and cultivate stronger communities. SocialFi platform users can freely collaborate, post, and share information without pressure from higher digital ‘authorities.’ Many argue storytelling will propel SocialFi forward. This type of engaging and dynamic content inspires users to build and share ideas, concepts, and dreams. Mittaria users collectively co-own the platform, which empowers creatives to share their world, with the option of working with professional animation creators to bring ideas to life. Along the way, animation enthusiasts can meet, share, converse with each other, and spend time together within the community-first platform. The Mittaria team remains committed to being one of the SocialFi forerunners by empowering creativity, promoting decentralization of assets and metaverse interoperability, and encouraging artists to produce and directly share content to earn money. Mittaria also plans to launch NFT collections that help users unlock various metaverse ecosystem benefits. Those interested in Mittaria’s Genesis NFT can follow the project’s website for updates and details about how to mint and price. Keep up with Mittaria news and growth by following the Web 3.0 platform on Twitter and Medium.
On Sunday, the multichain decentralized exchange aggregator Transit Swap suffered an exploit resulting in $23 million losses. But fortunately, the project’s team managed to recover 70% of the stolen funds on the same day with the help of several blockchain security firms, which facilitated the platform immediately after the incident. The blockchain security firms which […]
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The post Here’s Why Shiba Inu Holders May Lose 20%, But There’s A Catch appeared first on CoinGape.
Bitcoin mining GMT Token unveils their new NFT collection called “The Greedy Machines.” NFTs have been around since 2014, but it wasn’t until 2021 that they really started to catch on. Along with other facets of the economy, it turned the world of art upside down. Over the past two years, the NFT landscape has … Continued
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