China News Today Official TheBitTimes.com

According to blockchain analysis firm CertiK, over $32.2 million was lost to crypto scams and security incidents in October, with vulnerabilities, exit scams, and flash loan manipulations among the leading causes. In October alone, more than $32.2 million in user funds have been lost to security incidents and scams in the crypto market, according to blockchain Analysis CertiK. A large part of these incidents were vulnerability exploits, accounting for $22 million of the lost funds. Topping the list was the Fantom Foundation security breach, which alone saw hackers drain $700,000 in funds – mostly from an employee wallet. The hacker today moved the stolen funds into Tornado Cash. #CertiKStatsAlert Combining all the incidents in October we’ve confirmed ~$32.2M lost to exploits, hacks and scams. Exit scams were ~$8M Flash loans were ~$1.7M Exploits were ~$22M See more details below pic.twitter.com/67mq0ope7w — CertiK Alert (@CertiKAlert) October 31, 2023 Exit scams a...

Four individuals posing as currency dealers have been arrested and charged in Taiwan for defrauding at least 10 victims out of over NT$50 million ($1.6 million), by tricking them into buying Tether (USDT). As reported by CNA and Taiwan News, after months of investigation prosecutors obtained court approval to detain four individuals with the surnames Li, Hong, Lai, and Zhang. Following police searches on August 29 and September 1, the four fraudsters were arrested in Keelung, a coastal city just 30 minutes northeast of Taipei. After questioning, all four allegedly admitted to fraud, money laundering, and organized Crime . The group apparently used popular messaging app LINE to message victims, encouraging them to invest in stocks. Once trust was established, they switched to promoting USDT. Victims were reportedly shown how to set up a crypto wallet and were guided towards fake sites and apps that were secretly controlled by the fraudsters. Victims’ funds were then withdra...