Here’s what’s happening in Web3 and AI at a glance.
Web3
Crypto Robberies Targeting Western Europe
1️⃣ Blockchain investigator ZachXBT has noticed a surge in crypto home invasion thefts in Western Europe. Victims are being targeted through data breaches and social media stalking, and are urged to be cautious about sharing personal information.
US Regulators Net $19 Billion from Crypto Settlements
2️⃣ US regulators have secured $19B in settlements from crypto companies in 2024, surpassing the total amount collected in 2023. FTX and Alameda account for the majority of these settlements, following the collapse of Terraform Labs and Celsius.
Arbitrum Gaming Catalyst Program Under Scrutiny
3️⃣ The Arbitrum Gaming Catalyst Program (GCP) has faced scrutiny for missing deadlines and a lack of transparency. A DAO member has proposed recalling a majority of the GCP’s funding due to these shortcomings, highlighting the importance of accountability in DAO initiatives.
Bitcoin Breaks Above $63,000
4️⃣ Bitcoin has surged above $63,000, gaining momentum after testing support levels. Technical indicators suggest a potential further rise to $65,000. Traders are closely watching the monthly and weekly open levels, which could act as key resistance points.
$647 Million Lawsuit Over Discarded Bitcoin Drive
5️⃣ An IT engineer in the UK is suing his local council for $647 million after accidentally throwing away a hard drive containing 8,000 Bitcoin in 2013. He has been trying to recover the drive from a landfill for over a decade, but faced opposition from the council.
Scroll’s Partnership with Binance Raises Concerns
6️⃣ The listing of Ethereum L2, Scroll, on Binance has sparked debate within the crypto community. While some view the partnership as a positive step towards expanding Scroll’s ecosystem, others expressed concerns about the potential impact on decentralisation.
Crypto Fraud Fugitive Evades Authorities
7️⃣ A German national, accused of running a $150 million crypto fraud, has tampered with his ankle monitor and failed to appear in court. He faces charges of securities fraud, wire fraud, and money laundering. The authorities are currently actively searching for him.
Meme Coins Distance Themselves from Gotbit
8️⃣ Several meme coin projects are scrambling to distance themselves from Gotbit, a market maker accused of market manipulation and fraud. The US government has filed charges against Gotbit, leading to projects severing ties with the entity, while others minimise their exposure to the company.
AI
FBI Catches Crypto Fraudsters
1️⃣ The FBI used a fake cryptocurrency to catch individuals involved in market manipulation by posing as investors seeking to manipulate trading volume. The scammers agreed, providing evidence that led to their indictment, marking a first where a cryptocurrency was created for investigative purposes.
SEC Charges Trading Firm for AI Deception
2️⃣ The SEC has charged a trading firm for misleading investors about its use of AI for automated trading, alleging that it claimed to use AI technology to trade crypto and other assets, but the SEC found no evidence of such technology.
AI Tool Can Now Help Bypass KYC
3️⃣ A new AI-powered tool called ProKYC allows fraudsters to bypass KYC measures on crypto exchanges. The tool generates fake ID documents and deepfake videos to deceive facial recognition systems, making it harder for exchanges to detect and prevent fraudulent activity.
Zoom Unveils AI Meeting Avatars
4️⃣ Zoom is developing AI-powered avatars that can attend meetings on your behalf. These digital clones, built from your photo and customised with gestures and lip-syncing, supposedly helps save time and boost efficiency, particularly in remote work environments.
Aethir Launches $100M Fund for AI and Gaming
5️⃣ Aethir, a decentralised GPU cloud computing provider, has launched a $100 million fund to support AI and gaming innovation. The Aethir Ecosystem Fund aims to provide startups access to high-performance GPUs through grants, subsidies, and token distribution.
Fetch.ai Opens AI Lab in London
6️⃣ Fetch.ai has launched an innovation lab in partnership with the Imperial College of London. The lab aims to be a research hub for AI, machine learning, and autonomous systems, fostering collaboration between academia, industry, and government.
OpenAI Faces Financial Challenges Despite Growth
7️⃣ OpenAI is struggling to turn a profit due to the high costs of scaling advanced AI models. Despite significant growth in large language models and generative AI, the company faces substantial losses from infrastructure, research, and cloud computing expenses.
OpenAI Asks Judge to Dismiss Musk Lawsuit
8️⃣ OpenAI has filed a motion to dismiss Elon Musk’s lawsuit, arguing that the claims are baseless and amount to harassment. Musk, a former OpenAI co-founder, has filed multiple lawsuits against the company, alleging breaches of contract, fraud, and RICO violations.
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