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A grandmother with a terminal illness says an Australia-based bank should have been able to stop a scam as it unfolded in real time.
Lyn Reads says she’s a victim of a scammer who stole about $50,000 AUD – worth about $32,000 USD – from her bank account, reports the Australian Broadcasting Corporation.

Reads initially received a text message that appeared to be from Bendigo Bank.
When she called the number in the message, she spoke with a criminal who convinced her that her account was under attack. Reads handed over her six-digit passcode, allowing the scammer to transfer her funds to two accounts at the same bank.
When Reads began to suspect she had been duped by a scammer, she immediately visited her local branch.
According to Reads, a teller saved a few thousand dollars in her account, and said the lender’s fraud team “should have the money back within two weeks.”
But nine months later, Reads is still engaged in a dispute with the bank to recover her money.
Documents reportedly show it took the bank more than an hour after Reads notified her local branch before the accounts in question were labeled as “mule accounts” – accounts that are used to collect funds on behalf of criminals.
By that time, however, the funds were already gone.
Reads says the bank should have acted sooner, considering that the accounts involved in the theft were also with Bendigo Bank. She also says the bank should have flagged the highly unusual transfers from her account.
“They were large sums of money and it was quite out of the ordinary for me.”
Bendigo Bank argues Reads is responsible for the loss since she divulged her passcode to the scammer.
Reads, who has terminal cancer, says she’s depending on the money to enjoy her remaining days, spend time with her kids and grandchildren and to pay for her own funeral.
Last year, the Australian Competition and Consumer Commission says it received more than 14,500 reports of bank impersonation scams, which led to over $20 million AUD in losses.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Bank Refuses To Reimburse $32,000 Stolen From Grandma With Terminal Illness in Text Message Scam: Report appeared first on The Daily Hodl.


A grandmother with a terminal illness says an Australia-based bank should have been able to stop a scam as it unfolded in real time. Lyn Reads says she&#8217;s a victim of a scammer who stole about $50,000 AUD – worth about $32,000 USD – from her bank account, reports the Australian Broadcasting ...

dailyhodl.com

Bank Refuses To Reimburse $32,000 Stolen From Grandma With Terminal Illness in Text Message Scam: Report


Decentralized finance protocol Linear Finance has reported an attack that has resulted in liquidity being drained in its Linear USD (LUSD) token. It is the latest DeFi exploit in what has been a busy month for them so far. 



On September 21, Linear Finance reported that it was subject to an attack that resulted in the draining of all LUSD liquidity on both PancakeSwap and Ascendex.



DeFi Exploit Season



The attacker was able to mint an unlimited supply of LAAVE and subsequently traded the liquid asset to LUSD on the Linear Exchange. They then sold the tokens on PancakeSwap and Ascendex decentralized exchanges.



The team has halted all smart contracts and bridges on the protocol, it stated in a blog post. There have been no updates on the DeFi protocol’s X (Twitter) feed since the initial alert. 



The Linear Team said they have engaged an “industry-leading team to track the attacker(s) and bring them to justice.”




“Wallets known to have taken part in the exploit have been shared with all major exchanges and authorities. Restoring the protocol and un-doing the damage for our users will be our highest priority until the issue is fully resolved.”




There were no further details of the attack or the amount lost at the time of writing. 



        
          
            Read more: 15 Most Common Crypto Scams To Look Out For

          
        
      
    



The protocol supports cross-chain liquid and synthetic asset trading. It has a collateralized debt pool that allows users to deposit collateral to mint Linear USD, which is used to trade synthetic assets on the Linear Exchange.



The protocol is governed by the LINA token, which is used for voting and staking rewards. Furthermore, Linear Finance offers two main tokens: LINA is used for governance and staking, and LUSD is a stablecoin pegged to the US dollar used to trade synthetic assets.



LUSD Collapse 



According to DeFiLlama, Linear Finance’s total value locked is around $8 million. Moreover, it doesn’t appear to have tanked as a result of this DeFi exploit. 



The same cannot be said about the protocol’s stablecoin. LUSD collapsed to zero when the stablecoin liquidity pools were drained.



LUSD/USD 24 hours. Source: BeInCrypto



Remarkably, the protocol’s LINA token appears to be unaffected by the DeFi exploit. LINA was trading flat on the day at $0.011 at the time of writing. 



The DeFi token has actually gained 3.5% over the past week but remains down 96% from its March 2021 peak of $0.298.
The post Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero appeared first on BeInCrypto.


Decentralized finance protocol Linear Finance was attacked, resulting in the draining of all liquidity of its Linear USD (LUSD) token. The team has halted all smart contracts and bridges on the protocol.
The post Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero appeared first on BeIn...

beincrypto.com

Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero

The second-largest stablecoin by market cap, USD Coin (USDC), is now available natively on the Ethereum (ETH) competitor NEAR Protocol (NEAR).
In addition to NEAR, USDC is also available natively on Algorand (ALGO), Arbitrum ( ARB), Avalanche (AVAX), Base, Ethereum, Flow, Hedera (HBAR), Noble, Optimism (OP), Solana (SOL), Stellar (XLM), and Tron (TRX).

Explains USDC’s issuer Circle,
“Developers can now take advantage of the speed and scalability of the NEAR blockchain to build fast, user-friendly apps with USDC and coded in popular programming languages like JavaScript and Rust.”
Top US crypto exchange Coinbase and Circle co-created USDC in 2018 and jointly managed the asset, which aims to maintain a peg to the US dollar, through the Centre Consortium until last month.
In August, Coinbase Chief Executive Brian Armstrong and Circle CEO Jeremy Allaire said that Circle would bring all of USDC’s governance and operations responsibilities in-house. The CEOs also noted that Coinbase planned to purchase an equity stake in Circle.
NEAR is trading at $1.10 at time of writing. The 42nd-ranked crypto asset by market cap is up more than 1.6% in the past 24 hours.
NEAR Protocol says it’s focused on scalability and stability. The project aims to allow developers to build decentralized applications at low cost.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Second-Largest Stablecoin USDC Launches on Ethereum (ETH) Competitor NEAR Protocol (NEAR) appeared first on The Daily Hodl.


The second-largest stablecoin by market cap, USD Coin (USDC), is now available natively on the Ethereum (ETH) competitor NEAR Protocol (NEAR). In addition to NEAR, USDC is also available natively on Algorand (ALGO), Arbitrum ( ARB), Avalanche (AVAX), Base, Ethereum, Flow, Hedera (HBAR), Noble, Op...

Second-Largest Stablecoin USDC Launches on Ethereum (ETH) Competitor NEAR Protocol (NEAR)

Payments giant PayPal is continuing its move into the crypto space by introducing a new USD off-ramp integration feature.
In a new press release, PayPal announces the introduction of its”Off Ramps” feature for US customers to simplify access to decentralized apps (DApps), non-fungible token (NFT) marketplaces and more.

“Today we are taking another step in increasing access to digital currencies by simplifying how wallets, dApps, and NFT marketplaces can enable their customers to buy and sell supported crypto in the US (subject to applicable state law) through an integration with PayPal On and Off Ramps.”
According to the announcement, Web3 merchants will be able to facilitate payments through PayPal once the feature is integrated, giving them access to one of the largest payment bases in the world.
The move is PayPal’s latest in its push into the blockchain and crypto space, previously integrating with MetaMask and Ledger.
“PayPal previously launched On-Ramps to enable US consumers to directly buy crypto with PayPal through integrations with Metamask and Ledger – with more coming soon. By adding Off Ramps, crypto wallet users in the US can convert their crypto to USD directly from their wallets into their PayPal balance so they can shop, send, save, or transfer to their bank or debit card.
PayPal Off Ramps is now available to wallets, DApps and NFT marketplaces and is live on MetaMask today.”
Ledger and PayPal are collaborating to allow US customers to buy crypto assets within the Ledger Live app.
In addition, PayPal introduced its own US dollar-pegged stablecoin, PYUSD, last month.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Enomsix Dezign
The post PayPal Continues Crypto Push With New USD Off Ramp for DApps, NFT Marketplaces and Wallets appeared first on The Daily Hodl.


Payments giant PayPal is continuing its move into the crypto space by introducing a new USD off-ramp integration feature. In a new press release, PayPal announces the introduction of its&#8221;Off Ramps&#8221; feature for US customers to simplify access to decentralized apps (DApps), non-fungible...

PayPal Continues Crypto Push With New USD Off Ramp for DApps, NFT Marketplaces and Wallets


Popular Ethereum crypto wallet MetaMask has announced a new feature called simply called ‘Sell.’ The new feature in the MetaMask Portfolio section allows users to sell crypto for fiat. 



On September 5, crypto wallet provider MetaMask unveiled its Sell feature, allowing users to easily cash out crypto for fiat currency.



Crypto to USD, GBP, or EUR



MetaMask explained that its new Portfolio Sell feature allows for faster fiat conversion to bank accounts or PayPal balances. 



However, it is currently only available in the US, UK, and parts of Europe. Therefore, the only fiat currencies available to sell to are USD, GBP, and EUR. 



MetaMask has plans to expand to more regions to cater to its worldwide community, it stated.



It added that the function also initially supports ETH on Ethereum Mainnet. However, there are plans to expand to native gas tokens on layer 2 networks soon.



The crypto wallet aggregates an array of vetted providers, similar to those available through its ‘Buy’ function.




“Using the Buy and Sell features in MetaMask Portfolio allows you to go full circle in your crypto and fiat journey, with many of the same providers.”




        
          
            How to Add Fantom to MetaMask: A Step-by-Step Guide

          
        
      
    



Not all states in the US were supported when BeInCrypto tried the function. New York was unavailable, and others offered transfer options, including ACH Bank Transfer or MoonPay. 



For UK users, Faster Payments, SEPA Bank Transfer, MoonPay, or Transak options were available. 



When selling ETH, users are securely redirected to the provider’s website to sign up and link fiat accounts, then directed back to MetaMask Portfolio.



MetaMask currently does not require KYC (know-your-customer) but this may well change if it is dealing with banks. 



MetaMask has previously announced partnerships with fiat on/off-ramp providers such as MoonPay, Sardine, Transak, and Wyre. In May, the crypto waller rolled out Ethereum purchases via PayPal for its American users.



Moreover, MetaMask was also criticized for withholding tax implications in May, which developer ConsenSys denied. 



Read more: 13 Best No KYC Crypto Exchanges in 2023



MetaMask a Target For Scammers 



Being one of the world’s most popular crypto wallets also makes MetaMask a massive bullseye for scammers. 



However, on September 6, the platform stated that these scams are not unique to MetaMask: 




“They are a common threat in the Web3 ecosystem, and we are always working to keep users safe.” 




The comments were in response to reports that alleged MetaMask scammers had compromised government websites to target cryptocurrency investors. 



The scam redirected users to fraudulent websites impersonating MetaMask that prompted a download of a fake MetaMask APK file which granted the scammers remote control of the device.
The post Crypto Wallet MetaMask Launches Sell to Fiat Feature appeared first on BeInCrypto.


Crypto wallet MetaMask has launched a 'Sell' feature enabling users to convert cryptocurrency to USD, GBP, or EUR. Currently available in the US, UK, and parts of Europe, it plans to expand globally.
The post Crypto Wallet MetaMask Launches Sell to Fiat Feature appeared first on BeInCrypto.


Binance USD price	$1.00
Low - High 24H	$0.999424 - $1.00
Market cap	$2.38B
Volume 24H	$841.59M
All time high	$1.15 -13.36% March 13th 2020
All time low	$0.901127 10.98% May 19th 2021
Genesis date	N/A

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