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Crypto Flipsider News – July 12th – Christine Lagarde, ChainSwap, Crypto Commercial Block, NFTs, Tinder Crypto Scam

Greetings crypto holders and traders,

It’s Monday again, and crypto space is back with some picturesque news. 40% of the world’s countries think of CBDC, crypto influencers get silenced in Great Britain and on TikTok, and finally – Playboy bunny jumps into NFT from Miami beach!

On today’s lists:

  • Christine Lagarde says 80 central banks think about CBDC
  • ChainSwap suffered another attack, losses up to $8M 
  • Crypto commercials block: TikTok and UK restrictions
  • NFT news: PlayBoy, Twitter, LA Dodgers
  • Tinder becomes a dangerous place for crypto holders

Christine Lagarde says 80 central banks think about CBDC

The president of the European Central Bank (ECB), Christine Lagarde, said that about 80 central banks worldwide are considering the issuance of their national digital currencies, known as CBDCs. It is 41% of all 195 countries that exist in the world today.

Lagarde also admitted that central bank digital currencies will not have such anonymity as their physical fiat equivalents.

The topic was addressed by another ECB board member earlier, claiming that the digital euro is capable of protecting user’s privacy better than privately issued stablecoins.

Flipsider:

  • Finally, a moment of truth from the officials. But as stablecoins is one of the fastest-growing sectors of crypto space, the question of privacy probably will not be the only stage in the accelerating competitors’ rally.

ChainSwap suffered another attack, losses up to $8M

DeFi platform ChainSwap (ASAP) experienced a second cyberattack during the 8 days.

The unidentified hacker exploited the critical smart contract vulnerability of the cross-chain platform, which led to $8 million worth of losses.

Wallets that interacted with Chainswap and funds from individual wallets were safe, ChainSwap confirmed. However, over 12 tokens were affected by the exploit and dropped in value.

As the cross-chain bridge, ChainSwap enables interoperability between different networks like Ethereum and Binance Smart Chain.

Flipsider:

  • Historically, bridges made attractive targets for the attacks due to their potential. Seems like blockchain counterparts are no different. 

Crypto commercials block: TikTok and UK restrictions

  • Social media giant TikTok updated its branded content policy and banned cryptocurrency advertising on its platform. The restriction also targets other financial services, products and investment promotions. 
  • The UK’s Advertising Standards Authority (ASA) revealed that taking down misleading and irresponsible cryptocurrency marketing will become it’s “key priority” starting this month. The ASA will also target social media crypto influencers.

Flipsider:

  • Ok, guys, now we all have a free minute to make a sandwich between these never-ending crypto commercials. Just joking. In fact, it was just a matter of time, when crypto promotions will attract regulators. The positive aftermath: we’ll start to use our own brains instead of the influencers’.

NFT news: PlayBoy, Twitter, LA Dodgers

  • Playboy partnered with SuperRare to release The Miami Beach NFT Art Collection. The collection will include digital art from several artists and also an original photograph of Playboy Bunny Kathie’s water-skiing in Miami in 1970.
  • Around 50 Twitter NFT winners united to form an organization in order to maximize the value of non-fungible tokens, they got from Twitter’s NFT giveaway.
  • Major League Baseball released an NFT collectible to honor the Los Angeles Dodgers’ 2020 World Series championship. The auction of NFT, which also includes the physical championship ring, starts today on the Candy Digital platform.

Flipsider:

  • Beware, crypto kitties and pussycats, the heavy artillery is coming! Old-school Playboy bunnies might look a bit modest compared to the standards of today’s brave new world, but still, the nightlife of the NFT space will definitely become more interesting from now on.

Tinder date used as a trap to steal crypto

Tinder dating app was used as a trap to steal cryptocurrency. As crypto custody startup Casa reported, one of its clients was lured into a fake date with a lady crypto trader, during which he was drugged and voluntarily revealed his passwords, including the ones from his crypto accounts.

The victim said his mobile phone was missing, he also noticed several attempts to withdraw Bitcoins from his crypto wallet. The man only lost a small part of his crypto holdings due to the multisig wallet setup.

Flipsider:

  • We are left breathless. Do criminals no longer fit into cyberspace? Is it so boring that they miss physical contact? Although this “drug and rob” attack smells a bit exotic and vintage, tech-savvy crypto users should not forget that smartphones are still the key to their digital lives.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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