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Layer-2 network Shibarium has impressively handled over three million transactions in less than a month. This remarkable achievement suggests the network has garnered significant adoption relatively quickly.



Shiba Inu’s team maintains that the developments “behind closed doors” will further help Shibarium “demonstrate its strength and stability” soon.



Shibarium Enjoys High User Adoption



After addressing initial launch issues, the network has displayed significant performance improvements across key metrics. In the first week post-relaunch, the protocol engaged with over 1 million wallets, now at 1.25 million as of the latest update.



Furthermore, the network has seen over 3 million transactions, specifically totaling 3,085,075, at the time of writing.



Read more: Shiba Inu (SHIB) Price Prediction 2023/2025/2030



Shibarium Statistics. Source: ShibariumScan



However, it is noteworthy that daily transactions on the network have experienced a recent decline. 



According to data from ShibariumScan, the average daily transactions on Shibairum between September 8 and September 15 exceeded 100,000. In contrast, recent data shows a decrease to approximately 40,000 transactions over the past few days.



Shina Inu’s Total Value Locked Declines



The recent decrease in transaction volume aligns with the declining value of assets locked within Shibarium. According to data from DeFillama, Shibarium’s Total Value Locked (TVL) has decreased since it peaked at $1.27 million on August 29.



This reduction in daily transactions and TVL raises concerns for the network, particularly in the face of a growing number of layer-2 networks. 



Read more: Shiba Inu (SHIB) Price Hits a Crossroad: Bounce or Further Downtrend?



Over the past two months, the crypto industry has witnessed the emergence of Base, a network backed by Coinbase, and the conversion of several layer-1 networks to layer-2. The rising competition has the potential to impact activity in Shibarium.



Total Value of Assets Locked on Shibarium. Source: DeFillama



The ability of Shibarium to succeed could reflect whether the meme coin Shiba Inu will have real utility. This heightened activity has contributed to a notable increase in the burn rate for SHIB. 



Data from ShibBurn reveals that 784 million SHIB tokens were burned in the last seven days, marking a substantial 47.7% increase in the burn rate.
The post Shibarium Hits New Record: Is a Shiba Inu (SHIB) Price Surge Imminent? appeared first on BeInCrypto.


Shiba Inu Shibarium has enjoyed rapid adoption, handling more than 3 million transactions less than a month after its relaunch.
The post Shibarium Hits New Record: Is a Shiba Inu (SHIB) Price Surge Imminent? appeared first on BeInCrypto.


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Shibarium Hits New Record: Is a Shiba Inu (SHIB) Price Surge Imminent?


The leader of the failed crypto exchange JPEX is evading Hong Kong authorities and is suspected to be in Australia. The police plan to seek Interpol’s assistance to apprehend the masterminds behind this rug-pull scheme.



These developments follow the recent arrest of 11 individuals connected to JPEX. The rug pull resulted in a staggering loss of $178 million, marking it as the most significant financial fraud case in the city’s history.



Hong Kong Police Investigates Crypto Exchange JPEX



At the beginning of this month, concerns arose when the Hong Kong Securities and Futures Commission disclosed that the exchange was unregistered in the country. Additionally, the exchange’s deregistration in Australia prompted numerous victims to file complaints with the police.



However, the principal figures behind the exchange remain unidentified. Reports suggest that the 11 individuals arrested are likely mid-level participants who may not comprehensively understand the scam’s magnitude. 



Among those arrested and questioned are social media influencer Joseph Lam Chok, YouTubers Chan Wing-yee and Chu Ka-fai, and employees of JPEX Technical Support Company, which was later rebranded as Web 3.0 Technical Support.



In addition to these arrests, law enforcement interrogated celebrities, including Julian Cheung Chi-lam, Jacqueline Ch’ng Se Min, and Clement Chan Ting-bong, who were involved in promotional activities for the exchange.



A reliable source disclosed that authorities have successfully frozen some cryptocurrencies linked to the fraud. Nevertheless, efforts are ongoing to recover the funds and bring the individuals responsible for the scam to justice.



Meanwhile, Hong Kong police are actively seeking assistance from Interpol in their pursuit of the exchange’s leaders. They have also contacted major cryptocurrency exchanges to aid in tracking and reclaiming the misappropriated assets.



What Does This Mean for the Hong Kong Crypto Scene?



The implications of this incident for the crypto industry in Hong Kong are significant. Experts believe the Securities and Futures Commission may intensify its enforcement of new crypto regulations. The regulator has previously cautioned investors to use licensed cryptocurrency trading platforms exclusively.



Livio Weng, the COO of HashKey Group, pointed out that the incident underscores why the public must choose licensed financial institutions for their investment activities. For instance, HashKey is a licensed crypto trading service provider in Hong Kong. 




“The Securities and Futures Commission (SFC) of Hong Kong has been intensifying its efforts to license and regulate the exchange industry in recent years. They have introduced comprehensive guidelines for the operation of trading platforms, spanning over 100 pages, with specific requirements regarding user fund security, protection of user rights, operational standards for exchanges, and business transparency,” Weng added. 

The post Hong Kong Police Pursue Crypto Exchange JPEX Masterminds Amidst $178 Million Fraud appeared first on BeInCrypto.


Hong Kong intensifies pursuit of JPEX exchange leaders in the $178 million crypto fraud, spurring stricter crypto regulations.
The post Hong Kong Police Pursue Crypto Exchange JPEX Masterminds Amidst $178 Million Fraud appeared first on BeInCrypto.


Hong Kong Police Pursue Crypto Exchange JPEX Masterminds Amidst $178 Million Fraud

Rich Dad Poor Dad author Robert Kiyosaki has advised investors to buy bitcoin today before stock, bond, and real estate markets crash and people rush to buy BTC alongside gold and silver. The famous author has predicted that bitcoin’s price will reach $500,000 by 2025, with gold soaring to $5,000, and silver reaching $500. However, he anticipates BTC reaching $1 million in the event of a global economic collapse.
Robert Kiyosaki Recommends Buying Bitcoin Today
The famous author of Rich Dad Poor Dad, Robert Kiyosaki, has urged all investors to buy gold, silver, and bitcoin today before the stock, bond, and real estate markets crash and people rush to buy those three assets. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki shared on social media platform X on Tuesday that he is constantly asked about what the price of gold, silver, or bitcoin will be in 2025. “My reply is that is a silly question,” he said, adding that the “more important question is how many gold, silver, bitcoins do you have today?” He explained:
Gold, silver, and bitcoin are bargains today … but not tomorrow. America is broke. Buy gold, silver, and bitcoin today before stocks, bonds, and real estate crash & people rush for gold, silver, and bitcoin.
In February, Kiyosaki predicted that the price of bitcoin will hit $500,000 by 2025 while gold will soar to $5,000 and silver will reach $500. In August, he said that bitcoin will rise to $1 million, while gold will jump to $75,000 and silver to $60,000 if the world economy crashes.

Kiyosaki also previously warned that a “giant crash” is coming and the possibility of a depression is not to be dismissed. Earlier this month, he predicted that Airbnb will lead the real estate market crash.
He expects the U.S. economy to head for a crash landing, further predicting that the U.S. dollar will die. The renowned author cautioned that the Federal Reserve will be forced to print billions in “fake money.” He sees fiat money, including the U.S. dollar, as fake money while gold and silver are “God’s money” and bitcoin is “people’s money.” Last week, Kiyosaki said that crypto is the future and fiat money is “toast.”
What do you think about Rich Dad Poor Dad author Robert Kiyosaki’s advice on buying bitcoin? Let us know in the comments section below.



Rich Dad Poor Dad author Robert Kiyosaki has advised investors to buy bitcoin today before stock, bond, and real estate markets crash and people rush to buy BTC alongside gold and silver. The famous author has predicted that bitcoin&#x2019;s price will reach $500,000 by 2025, with gold soaring to...

news.bitcoin.com

Robert Kiyosaki Advises Buying Bitcoin Today — Foresees a Rush to Buy BTC as Stocks, Bonds, and Real Estate Crash

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.

Generated Image: Midjourney
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

An under-the-radar, low-cap Ethereum (ETH) competitor surged by more than 61% this week as a flurry of exchanges launched perpetual futures contracts for its native asset.
Ark (ARK) is an open-source, typescript-based, layer-1 blockchain protocol that aims to be simple and efficient.

The project’s native token is trading around $0.607, up from $0.375 one week ago. The 219th-ranked crypto asset by market cap is also up nearly 11% in the past 24 hours.
The project’s gains materialized this week as three notable exchanges launched ARK perpetual contracts. Binance, the largest crypto exchange in the world by trading volume, rolled out its ARK/USDT perpetual contract on Tuesday with up to 10x leverage.
On the same day, Seychelles-based crypto derivative trading platform Deepcoin also launched an ARK/USDT perpetual contract.
And on Friday, fellow Seychelles-based crypto exchange KuCoin also started offering an ARK/USDT-M perpetual contract. KuCoin’s contract has up to 20x leverage.
Futures trading is extremely risky, with the potential for big profits and devastating losses. It allows users to enter positions that are larger than their account balance, and perpetual contracts have no expiration date.
Despite ARK’s price gains this week, the asset remains 94% down from its all-time high of $10.22, which it hit all the way back in January 2018.
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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/jovan vitanovski/Sensvector
The post Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings appeared first on The Daily Hodl.


An under-the-radar, low-cap Ethereum (ETH) competitor surged by more than 61% this week as a flurry of exchanges launched perpetual futures contracts for its native asset. Ark (ARK) is an open-source, typescript-based, layer-1 blockchain protocol that aims to be simple and efficient. The project&...

Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings

Skybridge Capital founder Anthony Scaramucci has explained why he is still bullish on bitcoin. Emphasizing that every Wall Street firm is going to have a bitcoin exchange-traded fund (ETF) in their arsenal that they will sell to their clients, he predicted: “The next 10 to 20 years are remarkably bullish.” He added: “If you got your bitcoin, I wouldn’t sell your bitcoin, you made it through winter.”
Scaramucci Remains Bullish on Bitcoin
Skybridge Capital founder Anthony Scaramucci explained why he remains optimistic about the future of bitcoin during a fireside chat, titled “Why I’m still bullish,” at the Messari Mainnet conference in New York on Thursday.
Nothing that he believes the worst of the bitcoin bear market is over, he advised:
If you got your bitcoin, I wouldn’t sell your bitcoin, you made it through winter … The next 10 to 20 years are remarkably bullish.
He believes that young people “will be mainstreaming bitcoin” in the same way his generation “mainstreamed the internet.”
The Skybridge Capital founder cautioned that headwinds are still in the macro environment, including higher interest rates, an enforcement-centric Securities and Exchange Commission (SEC) chairman, and negative sentiment around crypto adoption. Nonetheless, he remains optimistic about BTC, stating: “As wealth is created in society, a portion of that wealth is going to get chipped off for digital assets, most likely bitcoin.” He also reiterated his long-standing view that “Bitcoin is better than gold.”

Scaramucci further expects the approval of bitcoin exchange-trading funds (ETFs) to be a game changer. He anticipates massive and widespread adoption of BTC once bitcoin ETFs become commonplace. The Skybridge Capital founder opined:
Every single Wall Street firm is going to have a bitcoin ETF in their arsenal … When Wall Street has something in their arsenal, they sell it to their clients … The market [for bitcoin] is going to widen.
Do you agree with Skybridge Capital founder Anthony Scaramucci about the future of bitcoin? Let us know in the comments section below.



Skybridge Capital founder Anthony Scaramucci has explained why he is still bullish on bitcoin. Emphasizing that every Wall Street firm is going to have a bitcoin exchange-traded fund (ETF) in their arsenal that they will sell to their clients, he predicted: &#x201C;The next 10 to 20 years are rem...

Skybridge Founder: Every Wall Street Firm Will Sell Bitcoin ETF to Clients — ‘Next 10 to 20 Years Are Remarkably Bullish’

In the lawsuit pitched by the U.S. Securities and Exchange Commission (SEC) against Tron’s brainchild, Justin Sun, and his enterprise Rainberry, a judicial nod has been granted for an extended timeline for the defense. Sun now has until December 8, 2023, giving his attorneys a broader window to “explore possible resolution of the SEC’s claims against defendants before motion practice.”
Sun’s Legal Horizon Extended: Judge Gives Breathing Room in SEC’s Tron-Related Suit
In March 2023, a legal storm brewed for Justin Sun, the Tron Foundation, the Bittorrent Foundation, and the entity known as Rainberry. They found themselves on the receiving end of a lawsuit from the U.S. securities watchdog. The core allegation? The quartet of entities allegedly dangled TRX and BTT before investors as unregistered securities, crossing the line of U.S. securities regulations.
Further, the SEC cast Sun in a shadowy light, accusing him of masterminding a vast plot to manipulate TRX’s market value. As of a court order stamped September 14, 2023, both Sun and Rainberry’s legal representation sought some breathing room from the court, a plea to which the judge granted. Addressed to judge Edgardo Ramos, the letter proposes pushing the deadline to December 8, 2023, precisely 76 days away. Advocating for the change, Sun’s legal counsel contends “there is good cause for the extension.”

The two reasons for the rescheduling? Firstly, the Tron Foundation unraveled in April 2023 and is now in the midst of seeking a revival in Singapore. Another catalyst is the recent turn of events in the SEC vs. Ripple Labs, Inc. courtroom battle. Sun’s legal brigade finds it imperative to delve into the “proceedings related to judge Torres’ decision,” as outlined in the correspondence. The note, however, doesn’t shy away from mentioning that the SEC has lodged an interlocutory appeal against Torres’ judgment, with the final verdict still in the balance.
What do you think about the SEC lawsuit against Justin Sun, Tron, and the Bittorrent Foundation? What do you think about the latest delay in the case? Share your thoughts and opinions about this subject in the comments section below.



In the lawsuit pitched by the U.S. Securities and Exchange Commission (SEC) against Tron&#x2019;s brainchild, Justin Sun, and his enterprise Rainberry, a judicial nod has been granted for an extended timeline for the defense. Sun now has until December 8, 2023, giving his attorneys a broader wind...

Clock Ticks Slower for Justin Sun and Rainberry: Court Grants Extension Amid SEC Allegations 

A hacker managed to steal a significant chunk of customer information from the crypto data firm Nansen after breaching one of the company’s third-party vendors.
Nansen acknowledged the attack in an announcement on the social media platform X on Friday, noting that the vendor breach allowed the hacker to access admin rights to an account that was used to provision customer access on the firm’s platform.

Nansen says a preliminary investigation revealed that the hacker managed to expose the personal information of 6.8% of their users.
“These users had their email addresses exposed, a smaller portion also had password hashes exposed, and the last, smallest group also had their blockchain address exposed. We have informed our users via email if and how they’ve been affected.” 
Nansen claims the third-party vendor is an “established company” used by multiple Fortune 500 firms and other companies in the crypto industry. The data firm says it has asked the vendor to disclose the breach publicly, though it remains unclear at time of writing what company it is.
Nansen says users’ wallet funds won’t be impacted because they don’t request private keys, but the firm encourages its impacted customers to change their passwords and warns them to be wary of phishing attempts.
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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 Hacker Breaches Nansen’s Third-Party Vendor, Exposes Some of the Crypto Data Firm’s Customer Details appeared first on The Daily Hodl.


A hacker managed to steal a significant chunk of customer information from the crypto data firm Nansen after breaching one of the company&#8217;s third-party vendors. Nansen acknowledged the attack in an announcement on the social media platform X on Friday, noting that the vendor breach allowed ...

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