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Hong Kong Regulator Cracks Whip on Seven Unlicensed Crypto Exchanges
The financial authorities in Hong Kong are set to soon release the results of the stablecoin consultation report as part of the region’s legislative proposal to oversee the industry. Hong Kong’s topmost financial regulator, the Securities and Futures Commission (SFC), has issued an alert against seven crypto trading platforms for operating in the region illegally without securing the proper licenses. The Hong Kong SFC maintains the public records of all the registered or unregistered crypto exchanges in order to reduce the overall risk related to fraud and scams. In its alert List, the SFC highlights exchanges that are either unlicensed...
DeFi Platform Sky Launches USDS Stablecoin
By Philip Maina 2 weeks agoThu Nov 21 2024 11:28:30 Reading Time: 2 minutes DeFi platform Sky has launched its own stablecoin known as USDS Sky intends to use the coin to venture deeper into the DeFi world USDS is a rebrand of the DAI stablecoin and is powered by the Solana blockchain DeFi platform Sky, formerly Maker, has launched a Solana-based stablecoin known as USDS to venture deeper into the DeFi world. Sky described the stablecoin as the first on Solana to focus on the blockchain ’s DeFi ecosystem, adding that USDS supports trading, borrowing, and lending functionalities. Sky...
Crypto Scammers Use Fake Zoom Links to Steal Funds
By Philip Maina 3 weeks agoTue Jul 23 2024 12:39:39 Reading Time: 2 minutes Scammers are using fake Zoom links to disguise their malicious intent The tactic is extremely sophisticated making it hard to detect Scam researchers noted that scammers using this method target NFT holders and those with a huge crypto stash Malicious actors in the crypto space have invented a sophisticated tactic to steal crypto and NFTs . The scammers are inviting victims to Zoom meetings using fake Zoom links that when opened kickstart the process of quietly siphoning victims’ assets. The scammers lure victims with promises of...
