Over 385 Million USDT on Ethereum Stolen via Pig Butchering in Just Two Years + More News

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Get your each day, bite-sized digest of crypto and blockchain-related information – investigating the tales flying underneath the radar of as we speak’s information.

On this version:

  • Over 385 Million USDT on Ethereum Stolen by way of Pig Butchering in Simply Two Years
  • MoonPay Launches MoonPay Checkout
  • Which Bitcoin Miners Will Face Most Uncertainty Put up-Halving?
  • KuCoin Labs and Zoopia Companion to Advance Bitcoin Ecosystem

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Over 385 Million USDT Stolen by way of Pig Butchering in Two Years


Greater than $385 million have been stolen in simply two years by way of pig butchering scams, according to BestBrokers.

The workforce determined to investigate the quantity of stolen USDT on the Ethereum mainnet for the previous two years by way of these scams.

They measured the magnitude of probably the most “simply trackable” scams and ran a number of uncooked queries on the Dune Analytics platform. They decided the quantity of USDT transactions made to identified rip-off addresses on Ethereum.

BestBrokers established that though the quantity stolen per quarter has been reducing because the Q2 2023 surge, the general quantity stolen by way of pig butchering already exceeds 385 million USDT.

Whereas the primary reported transaction was made in September 2021, the variety of reported scams saved surging all through the final two years, it stated. The primary notable decline was noticed in Q3 2023.

This drop may very well be a results of the sustained efforts of Southeast Asia’s governments to crack down on the scammers.

BestBrokers’ crypto analyst Alan Goldberg commented that “the truth that $385 million was stolen via Pig Butchering scams over such a brief interval is terrifying. Let’s not overlook that is the info for a single cryptocurrency on a single blockchain. If we have been in a position to monitor all of the rip-off transactions throughout all blockchains, the magnitude could be manner bigger. It might even match the quantity siphoned by the DeFi hackers.”

Supply: BestBrokers

MoonPay Launches MoonPay Checkout


Crypto funds infrastructure agency MoonPay introduced its MoonPay Checkout, described as “the improved four-click checkout course of that makes it a breeze in your customers to purchase digital collectibles in seconds.”

That is an enhanced model of MoonPay’s non-fungible token (NFT) buying widget, which is already trusted by OpenSea, Magic Eden, ENS, and Candy.io, it stated.

Options and advantages embrace excessive changing, with a 90% checkout success price; in depth blockchain assist with greater than 40 chains supported; means to adapt MoonPay Checkout’s look to suit a model or market; 100% safety in opposition to chargebacks and fraud; and wallet-free checkout.

It moreover consists of a chance to earn further revenue via affiliate charges, Google and Apple account integrations for consumer comfort, and the power to mint a number of portions of NFTs in a single transaction.

Which Bitcoin Miners Will Face Most Uncertainty Put up-Halving?


Sure massive miners should scale back their hashcost in the event that they don’t gained’t to cope with uncertainty after the Bitcoin (BTC) halving, according to a Miner Weekly report by BlocksBridge Consulting.

Bitcoin’s hashprice set new yearly highs above $130/PH/s over the previous week, the report stated. This occurred as mining firms reap an rising quantity of block rewards from transaction charges.

The incoming halving will convey an enormous change. If the hashprice stays fixed at $110/PH/s via April, will probably be decreased to $55/PH/s proper after the halving (anticipated on April 23).

Provided that Bitcoin’s common hashprice in Q3 was round $70/PH/s, most firms have been okay. “However these on the upper finish of the dimensions will face rather more uncertainty post-halving in the event that they don’t scale back their hashcost,” the report stated.

It added that “lowering the hashcost by bettering fleet effectivity and/or securing decrease power charges is therefore paramount because the halving looms. That explains why we’re in the course of an arms race amongst mining firms for the following technology of miners.”

The brand new hashcost metric was revealed by TheMinerMag to guage the competitiveness of mining firms.

The chart under maps out the estimated common each day hashcost of mining firms in Q3.

Supply: TheMinerMag

KuCoin Labs and Zoopia Companion to Advance Bitcoin Ecosystem


KuCoin Labs, the funding VC arm of the KuCoin ecosystem, and Zoopia, a platform devoted to bitcoin ecosystem staking, have joined forces to advance the Bitcoin ecosystem, according to the press launch.

The strategic partnership goals to revolutionize the best way customers work together with BRC tokens, the businesses stated.

Zoopia desires to create an ecosystem the place customers securely stake BRC20 tokens, earn rewards, and take part in auto-compounding processes.

“KuCoin Labs will assist Zoopia because it continues to attain its key milestones, together with product launches, market growth, and consumer expertise enhancements,” stated Lou Yu, Head of KuCoin Labs.

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