Head of Product for major NFT platform, OpenSea, is asked to resign following allegations of NFT insider trading

A Twitter sleuth discovers that OpenSea's Head of Product, Nate Chastain, had apparently been engaging in a form of insider trading by buying NFTs that he knew would later be featured on the front page of OpenSea, then selling them once their value increased from the spotlight. The Twitter user identified a chain of transactions show Chastain laundering the transactions through several anonymous accounts. OpenSea posted a statement confirming the shady trades had taken place, and that they had requested and received the employee's resignation, though they didn't specifically name Chastain as the culprit. Chastain's Twitter profile was updated shortly after, identifying him as a former OpenSea employee. OpenSea announced the next day that they had implemented policies preventing employees from trading on confidential information, which I guess they just hadn't bothered to think about previously.

GTV Media Group, a media company operated by Steve Bannon and Guo Wengui, pay $539 million settlement over ICO

The SEC filed charges against GTV Media Group and related entities, alleging they engaged in an unregistered ICO when they offered investors the opportunity to buy "G-Coins" (also called "G-Dollars"). GTV immediately settled with the SEC, agreeing to pay over $539 million.

GTV Media Group is a media company co-founded by Steve Bannon and Guo Wengui, both figures in the American far right who have close ties to Donald Trump.

Fake press release dupes media outlets into reporting that Walmart will begin accepting Litecoin

A graph of the value of Litecoin, showing a brief but large spike in its valueSpike in Litecoin value attributed to the fake press release (attribution)
A press release distributed via GlobeNewswire claimed Walmart was announcing a partnership with Litecoin to begin accepting the cryptocurrency as a payment method. The value of Litecoin spiked before tumbling after Walmart said the announcement was fake.

SEC charges Rivetz Corp. and related entities for $18 million ICO

The SEC charged Rivetz Corp. and related entities with running an illegal ICO when they launched their "RvT tokens". They raised $18 million through the ICO, which they never registered with the SEC, to raise funds for the Rivetz blockchain security company. The funds, which were raised in ETH, were used to give the company's founder a $1 million bonus, plus a $2.5 million loan which he used to "purchase a house in the Cayman Islands that he then leased back to Rivetz Int'l."

C.R.E.A.M. Finance exploited again, this time for $25 to $30 million

A vulnerability in C.R.E.A.M. Finance allowed a re-entrancy attack to steal somewhere between $20 and $30 million from C.R.E.A.M. finance in its second multimillion dollar hack of the year.

xToken loses another $4.5 million in second hack of the year

A vulnerability in xToken's xSNX product allowed hackers to use flash loans to empty $4.5 million from xToken. This hack followed an even larger hack in May, where the platform was exploited for around $25 million.

Scammers posing as Bored Ape Yacht Club founders scam NFT collector Sohrob Farudi out of $800,000

An illustration of a person in side profile, wearing a bright red baseball cap. They have dark grey skin and blue dreadlocks in a ponytail, and are wearing futuristic green glasses.ON1 #7253, one of the stolen NFTs (attribution)
The day after Nicholas lost almost $500,000 to NFT scammers, another collector was targeted for an even larger sum. "I've never felt more dumb, helpless, embarrassed or just plain sad in my entire life", Farudi wrote on Twitter. The scammers, who pretended to be the founders of the popular Bored Ape NFT collection, had tricked him into exposing his private key QR code to them in another Discord/OpenSea scam.

Scammers posing as OpenSea support staff steal $480,000 from NFT collector Jeff Nicholas

An illustration of a bright pink ape, wearing a captain's hat, with heart-shaped sunglasses, with eyes on its neck, and a gold jacket and chainBored Ape #648, one of the stolen NFTs (attribution)
After asking for help in the OpenSea Discord channel, Nicholas was successfully scammed by individuals posing as customer support. After convincing the investor to share his screen, allowing scammers to view his private key, they transferred all of his NFTs, worth almost $500,000, from his wallet in transactions that can't be reversed. Earlier that year, Nicholas had appeared as a guest on a podcast episode titled "How NFTs Will Change Everything".

$611 million is stolen from Poly Network in one of the largest cryptocurrency heists to date

Hackers stole approximately $611 million from the decentralized finance platform Poly Network in the largest cryptocurrency theft against a single platform to date. In a bizarre twist, the hacker returned the majority of the funds, and Poly Network offered them a position as a chief security advisor (though it is not clear if they accepted).

"Women-led" NFT project, "Fame Lady Squad", turns out to be a bunch of dudes

An illustration of a woman with bright green hair and red eyes with laser beams shooting out of them. She's sticking her tongue out and has a bright blue tattoo on her faceFame Lady #2269 (attribution)
The "Fame Lady Squad" NFT project touted itself as a woman-designed and -developed project that would give back to women in the space, drawing support from high-profile individuals like Gary Vaynerchuk, and ultimately around $1.5 million in investments. Problem is, the three women who were supposedly running the project were a group of Russian men, accused by one of the individuals who uncovered the lie of trying to profit off American social causes. The group had a history of creating NFT projects based on false stories. One of their other projects, "Cyber City Girls Club", was intended to campaign to stop hate against Asians, and also originally purported to be run only by women (it wasn't).

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