Is there a way to include in one's will that you don't wish to be turned into an NFT or commemorated with a "Queen Inu" token when you die? Asking for a friend.
Company begins selling Celsius-themed Monopoly game... three months after Celsius suspends withdrawals
If you were wondering who might decide to sell such a product, well, USA Strong's founder and CEO is none other than Krissy Mashinsky, wife of Celsius founder Alex Mashinsky.
Both the announcement tweet and the game product page were taken down shortly after the announcement, likely due to the less-than-enthused response from Celsius users.
Investors face $11 million loss in VBit Technologies/Advanced Mining Group, an alleged crypto Ponzi scheme
However, customers trying to withdraw their "rewards" saw increasing delays in receiving their payouts — days, then weeks, then an indefinite pause. A COO hired by the group left the company only three weeks later. On June 27, the group sent an email to its customers explaining that there was a "potential pending settlement" with the SEC — the first customers heard of the existence of any investigation — and that they would no longer serve customers in the U.S. On July 15, the company promised to refund customers what they paid to sign up with the program, but no refunds or further updates have materialized.
The company has faced lawsuits in Washington state and Delaware, and apparently operated for two years after executives had acknowledged they were violating securities laws. The Delaware lawsuit describes the operation as a Ponzi scheme, and alleges that the company sold packages that would have required far more computing power than the company actually had access to.
- "Investors fear millions lost in Pennsylvania’s largest cryptocurrency scandal based in South Philly", The Philadelphia Inquirer
A tweet from OpenSea announcing the project received some positive replies, and a lot of other NFT projects trying to promote Bowie-themed NFTs they'd included in their collections. However, the tweet from David Bowie Twitter account seemed to be received almost universally negatively, with many commenters writing that they wished the estate would just raise money for charity without getting into NFTs, and others writing that they didn't think Bowie would have supported NFTs.
On September 10, the account announced that "Out of respect for the people of the UK and Queen Elizabeth II, we will be postponing the 'Bowie on the Blockchain' sale. We will update soon."
Binance claims the move is to "enhance liquidity and capital-efficiency for users", but the conversion and Binance's related decision to stop trading on spot pairs involving those same stablecoins seems like an attempt to increase the status of its own stablecoin against that of rivals.
Poolin users had been complaining about issues withdrawing from their Poolin wallets since at least August, which had sparked rumors of liquidity problems prior to the announcement. Poolin said in their announcement that they would announce their plans to resume withdrawals within two weeks.
In 2019, his home was raided in connection to a Nigerian lottery scam, for which he converted between half a million and $1.5 million to cryptocurrency over the span of half a year. He was ultimately charged with "illegally operating a cash-to-cryptocurrency conversion business", to which he pleaded guilty (by his telling, in an attempt to get charges against his family members dropped).
Hopkins claims that "any time anyone with a crypto trades p2p (i.e., not with an exchange), they're legally liable under this statute as it's currently interpreted", though authorities have claimed that Hopkins knowingly aided the lottery scammer by telling them "I'm set up as a marketing company, so tell them you're paying for a marketing campaign".
- 'Doctor Bitcoin' Pleads Guilty to Illegal Cash-to-Crypto Scheme, U.S. Attorney’s Office of the Northern District of Texas
- "Bitcoiner sentenced to federal prison warns users involved in OTC trading", CoinTelegraph
The token was briefly listed on OpenSea, Rarible, and various other marketplaces before those marketplaces took it down. However, because it was minted on the blockchain, the token itself cannot be removed. "It's very much an experiment...to find ways to make content indestructible," said Raphael Gluck, a co-founder of a jihadist research group.
- "Islamic State Turns to NFTs to Spread Terror Message", The Wall Street Journal
Ironically, a flaw in the project's smart contract allowed individual wallets to mint many NFTs at once, rather than one per wallet, allowing two people to game the system and snap up more than 450 NFTs rather than the one they were allowed. Rug Pull Finder wrote that "An exploit was shared with us 30 minutes before mint went live. After reviewing it with 3 different dev teams, we did not believe the credibility of the information sent to us... We were clearly wrong, and we are truly truly sorry".
Rug Pull Finder announced that they had reached an agreement with the people who gamed the mint, and would buy back the 366 NFTs the duo still held for 2.5 ETH (~$4,000).
Crypto security researcher OKHotshot wrote, "I think its concerning when security minded projects like RugPullFinder get their discord breached and their code exploited yet they're offering those exact services to customers."