πŸš€ Can Wash-Trading on Crypto get you a knock on the door by the Police? In South Korea, that may be a "yes"

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πŸš€ Can Wash-Trading on Crypto get you a knock on the door by the Police? In South Korea, that may be a "yes"

Also, have you made a habit of checking crypto addresses 5 times before sending your coins?

Hey Geckos, how has your week been so far?


For those of you who have joined the CoinGecko "Yield Farming" Meetup, we'd appreciate it if you don't leak the alpha πŸ˜‰.

In case you've missed it - but still want in, here is a replay of the session. (Protip: you can watch our previous meetups too)


In other news about crypto and the (somewhat) mainstream, a darknet marketplace (accessible only with TOR) has apparently exit scammed its users, running away with close to 2,638 BTC, about $30 million USD at the time of writing.

While this is indeed bad news, is it really surprising at all? For one thing, we should all just consider bitcoin as cash (intellectually, that is. Please refer to your local laws to ascertain the legality of crypto assets as legal tender) and treat any of such incidents as your run of the mill scam.


Would you bat an eye if you read some news of scammers running away with USD from a seedy marketplace?

Have a great day ahead!

24h Hot searches worldwide πŸ‘€

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Total Value Locked In DeFi Easily Surpasses $7 billion

The total value locked (TVL) in DeFi protocols has passed $7 billion, just a couple of days after hitting the $6 billion milestone. Of that $7 billion, 90% of capital is held in just six projects. 


Aave (LEND) currently has the most in TVL, with $1.52 billion, followed closely by MakerDAO (MKR) with $1.41 billion.


In third place is Curve Finance (CRV), standing at $1.21 billion. Others in the top five are yearn.finance (YFI) and Synthetix (SNX) with $849 million and $840 million respectively.


(Editor: Have you ever seen exponential growth? Now you have...)


CoinTelegraph

Sophisticated "Copy & Paste" hack reported when transacting crypto

Reddit user "seraf1990" has warned users on the platform of a copy & paste exploit they faced.


When sending some bitcoin (BTC) from Binance to Coinbase, the user copied the Coinbase address and pasted it into Binance. 


After sending the BTC, they realised that the address had somehow swapped, losing them $350 in BTC.


While this type of scam does occur, there is a notable difference. The hacker managed to seamlessly generate an address that looks visually similar to the original address, making it hard to spot when care is not applied.


(Editor: Always double, triple, and quadruple check the any crypto address! Expect more of these scams as the market picks up.)


CoinTelegraph

Coinbit Seized By South Korean Authorities

Coinbit has been reportedly seized by local police amid accusations of wash trading on the exchange.


It's alleged that 99% of trading volume on the exchange was manipulated, resulting in over 100 billion ($84 million) in faked revenue.


Seoul Newspaper has said that the majority of recorded trades could not be associated with deposits and withdrawals.


(Editor: Wash trading is a highly illegal thing to do in the traditional financial market, though seems to be common in crypto thus far. Are we seeing the inkling of reversal to this status quo?)


CoinTelegraph

Love our surveys? Here's a second round!

Pssst! CoinGecko Survey is now BACK! 


Your experience and opinion is highly valuable in the crypto industry. And so we'd love to pick your brain on your thoughts about the latest thing to pop up in the space. (Hint: It has something to do with farming)


Of course, you will stand a chance to win one of our 5 CoinGecko T-Shirts! (which always out of stock for some reason, so here a chance for you to win one... for free 😜 )


All participants will receive goodies for your time and opinion too, eligible responses will awarded our How to DeFi book, CoinGecko Store voucher and an extra 200 candies to your CoinGecko Account.


Click on here to answer our survey now! 


MicroBitcoin (uBTC)


One millionth of a bitcoin or 0.000001 of a bitcoin.


(Editor: 1 Bitcoin too expensive to buy? Start thinking in MicroBitcoin as unit of account!)


Learn about other Crypto terms here

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