A growing Clipper Malware scam is specifically targeting the Shiba Inu (SHIB) community, intercepting cryptocurrency transactions and posing a serious risk to users. Given the rise in these kinds of threats, it is essential for users to remain vigilant, verify addresses, and utilize secure platforms to safeguard their funds against Clipper Malware and similar scams.

Understanding Clipper Malware

As cryptocurrency evolves, so do the tactics employed by cybercriminals. Among the latest threats is Clipper Malware, which increasingly affects users in the Shiba Inu community as well as the wider crypto landscape.

In a recent alert, Shibarmy Scam Alerts underscored the escalating danger posed by this malware. Having been around for seven years, it now actively intercepts cryptocurrency transactions. Originally identified in questionable Android apps, it now threatens both Android and iOS devices. The malware functions by monitoring copied wallet addresses and modifying them to redirect funds to the wallet of the attacker.

A Losing Battle

The prevalence of this scam has surged, impacting numerous users. Despite platforms like Binance blacklisting suspicious wallet addresses, the community remains vulnerable. Users are urged to manually verify wallet addresses before completing transactions and to download apps exclusively through reputable sources like the Apple or Google Play Store.

Moreover, Shiba Inu recently introduced a new staking platform, K9 Finance. This platform has also attracted attention by cybercriminals impersonating the project in an effort to mislead users. While the K9 Finance team actively defends against these attacks, fraudulent Telegram groups and links continue to circulate. The community is advised to exercise caution and use only official K9 Finance links to avoid scams.

In April 2023, ConsenSys filed a lawsuit against the United States SEC, alleging that the agency was investigating Ethereum and had issued a Wells Notice regarding potential enforcement actions tied to swap and staking features provided by MetaMask. On September 19th, 2024, Judge Reed dismissed claims made by ConsenSys regarding MetaMask, stating that enforcement actions do not constitute final agency actions.

Lacking A Definitive Stance

The lawsuit aimed for a court decision asserting that Ether is not a security and that Ethereum sales do not qualify as securities transactions, in addition to preventing the SEC in terms of taking action against the MetaMask software.

The judge noted that the Wells Notice does not represent a definitive stance by the SEC, nor does it grant any legal rights or impose consequences on ConsenSys. The court also deemed all claims by ConsenSys about Ethereum moot, as the SEC had concluded its investigation into ETH earlier that summer. This conclusion followed the approval by the regulatory agency of Ether ETFs in May, which rendered the initial concerns obsolete.

ConsenSys To Pursue Other SEC Charges

Despite this ruling, ConsenSys announced its intention to continue its legal battle against a separate SEC complaint filed in June. This lawsuit accuses the company of functioning as an unregistered brokerage that provides unregistered securities through MetaMask Swaps.

ConsenSys has criticized the SEC for what it perceives as an anti-crypto agenda, arguing that the agency is attempting to expand its regulatory authority by reshaping established legal standards through enforcement actions.

German law enforcement has acted against 47 cryptocurrency exchange services operating in the country, citing their role in facilitating criminal activities. The Bundeskriminalamt (BKA), which is the main criminal investigation agency in Germany, announced this crackdown in a recent press release.

Previously, German legislator Joana Cotar led an effort to designate Bitcoin (BTC) as an official currency in the country. Presently, El Salvador and the Central African Republic (CAR) are the only countries to have made BTC legal tender.

Lack Of KYC Policies

According to the announcement, the operation was led by the Frankfurt am Main Public Prosecutor Office and the Federal Criminal Police Office (BKA). They focused on platforms that allowed anonymous exchanges between fiat currencies and cryptocurrency.

Authorities targeted these exchanges due to alleged violations of anti-money laundering laws, specifically the failure to implement adequate know-your-customer (KYC) procedures. The platforms are accused of deliberately hiding the origins of funds obtained through illegal means on a large scale, effectively functioning as criminal trading platforms.

As part of these measures, the BKA and ZIT secured extensive user and transaction data via the disabled exchange services, the agency stated. It was noted that some involved are linked to ransomware groups, botnet operators, and darknet traders.

A Broader Strategy

This operation forms part of a broader strategy to combat cybercrime by disrupting the infrastructure that supports illegal activities, aiming to sever the flow of illicit funds. Additionally, German authorities have recently reported various successes in their efforts against cybercrime, including the seizure of the ChipMixer server infrastructure in 2023, which resulted in approximately 90 million euros being secured.

The BKA also highlighted the dismantling of several criminal marketplaces, including the Kingdom Market, as well as the disabling of significant malware threats like Qakbot and Emotet. In any case, Germany has established a comprehensive regulatory framework for cryptocurrencies, enforcing strict anti-money laundering measures that require KYC compliance to help prevent money laundering and terrorist financing activities.

The much-anticipated day has finally come, as the United States Federal Reserve has revealed its decision to lower interest rates, which carries significant consequences for Bitcoin (BTC) and the wider cryptocurrency market. Following this announcement, the markets experienced notable fluctuations.

Optimistic View For Bitcoin
The Fed has just revealed a reduction in the federal funds rate by 0.50 percentage points (bps) for the first time in four years, marking a significant change since the beginning of the COVID-19 pandemic.

This modification adjusts the target range to 4.75% to 5%, a decrease compared to the previous number of 5.25% to 5.5%, which had been the highest rates since 2001. A significant Bitcoin rally is predicted over the next six months after the rate cut.

Analysts widely expected this reduction, with some, like crypto analyst Doctor Profit, suggesting that a 50 bps cut would be beneficial for Bitcoin and the broader digital asset landscape in the short term. Market expert Michael Van de Poppe has also noted that increased volatility is likely for both Bitcoin and Ethereum after this event, potentially driving prices higher in the long run.

Bitcoin Responds
In the wake of the announcement, Bitcoin has shown considerable volatility, with marked price swings. Currently trading around $60,180, the cryptocurrency has experienced ups and downs, dropping about 1% after hitting nearly $62,000 on Tuesday.

As investors process the news, it is uncertain how the market will stabilize in the coming days. An influx of capital into the crypto market could enhance overall growth for Bitcoin, presenting bullish investors with an opportunity to take advantage of favorable conditions.

However, maintaining a balance between upward momentum and market corrections will be vital in shaping the short-term outlook for Bitcoin and other cryptocurrencies going forward.

Former United States President Donald Trump made an unanticipated visit to Pubkey Bar earlier this week, ahead of his rally on Long Island, where he treated fans to burgers. Pubkey, a Bitcoin-themed establishment located in Greenwich Village, New York, witnessed a notable moment as Trump paid for the burgers using BTC, marking his first public use of cryptocurrency.

Needless to say, the crowd erupted in cheers when he referred to the silver-foiled burgers as Crypto Burgers. Trump also recently pledged to impose a hefty 100% tariff on any country that distances itself when it comes to the US dollar, making such a shift incredibly costly.

The Crypto Revolution
On the surface at least, this seems to be a different Trump than the one who previously labeled Bitcoin a scam and dismissed it as thin air. His views on cryptocurrency have significantly changed. Since May, his campaign has begun accepting Bitcoin donations, and he has openly welcomed the crypto community. His ambition is to transform the U.S. into the crypto capital of the world.

During the event, Trump spent approximately $1,000 on burgers via the Lightning Network, a technology aimed at expediting Bitcoin transactions. The burgers were distributed to enthusiastic supporters and crypto advocates.

A Viable Strategy
Trump visiting the Pubkey Bar was not merely for publicity, it forms part of a broader strategy. The plan is to attract crypto voters and enthusiasts as the Republican nominee is advocating for a nation supportive of cryptocurrency, believing it will bolster the economy and foster innovation. At the Bitcoin 2024 conference in Nashville, he committed to appointing regulators who back crypto.
Thomas Pacchia, co-owner of Pubkey, described the event as pivotal for Bitcoin, calling it a coming of age for the Bitcoin community. No other leader has utilized crypto in such a public setting, marking a significant step toward legitimizing the sector and potentially influencing both voters as well as regulators.

Trump clearly understands how to convey his message. By stopping at a Bitcoin-themed bar, purchasing burgers with Bitcoin, and referring to them as Crypto Burgers, he demonstrates his intent to integrate cryptocurrency into everyday life. While there is no doubt about his pro-crypto stance, questions remain regarding how his policies will unfold. This bold maneuver may attract voters, but only time will reveal its true impact.

Worldcoin World IDs are now compatible with Solana (SOL), thanks to the interoperability protocol Wormhole, which is facilitating the transition by transferring World ID data snapshots (which include essential details such as account balances) to Solana via Ethereum (ETH).

Worldcoin, a project initiated by Tools for Humanity (TFH) and co-founded by OpenAI CEO Sam Altman, is known for its unique approach to identity verification. The project employs advanced biometric technology, specifically Orbs that scan irises, to create World IDs. These IDs are intended to function as global digital passports for an increasingly AI-driven and digital world.

Understanding Crypto OTC Desks

The integration of World IDs with Solana highlights their potential to address real-world issues like spam and bot attacks. In the Solana ecosystem, where low transaction fees often attract bot activities, World IDs could significantly reduce spam and Sybil attacks.

Early adopters of World ID on Solana include DRiP, DSCVR, and Flojo, which are evaluating the technology for their platforms. By utilizing World IDs for user verification, DRiP aims to ensure that its services are accessed solely by genuine users, maintaining overall integrity.

Wormhole also plays a vital role in integrating World IDs into Solana. It has a crucial position in enabling cross-chain interoperability since the protocol facilitates the transfer of state roots, which are essentially snapshots of essential blockchain data, between Ethereum and Solana, ensuring seamless cross-chain functionality.

Ongoing Development And Challenges

Wormhole co-founder and Chief Communications Officer Robinson Burkey highlighted that the integration of World IDs with Solana could unlock various micropayment applications, such as airdrops, social proof systems, and pay-per-content models.

However, Worldcoin faces significant legal hurdles.  Many in the crypto community remain cautious, debating whether the benefits of this advanced technology outweigh the privacy risks associated with iris scanning. Regulators in various countries have also expressed concerns about the generation, storage, and management of World IDs. In some areas, slow regulatory processes are impeding the adoption of its technology.

Despite these setbacks, Worldcoin is making strides towards greater transparency by open-sourcing aspects of its technology. The project asserts that user privacy is a priority, with sensitive biometric data through the Orbs being deleted unless users choose to retain it.

A popular crypto influencer has not yet addressed allegations of using bots to manipulate his social media metrics and influence, which surfaced shortly after he received a best content creator award at a recent crypto-oriented event. ZachXBT accused the influencer, who is called Professor Crypto, of employing thousands of bots to mislead people.

Legal Ramifications

ZachXBT suggested that this behavior might violate a Federal Trade Commission rule in the United States that bars the sale or purchase of fake social media influence indicators, such as followers or views created by bots or compromised accounts.

Professor Crypto has yet to make a public statement about these allegations but has removed several posts showcasing his award for best content creator at the DeGen Summit in Singapore on September 17th, 2024. The DeGen Summit, a side event of TOKEN2049, recognized that Key Opinion Leaders (individuals whose opinions significantly impact large groups or industries) are in fact often established experts or influencers.

More Than Meets The Eye

Professor Crypto, who has over 1.34 million subscribers on his YouTube channel where he reviews crypto exchanges, wallets, trending meme coins, and NFTs, has been producing content since August 2018. He had shared several videos on X during a flight to Singapore with various other crypto influencers.

His X account, established in February 2018, boasts 132,000 followers but has only 102 posts, with the earliest dating back to August 14th. Web3 investigator Pix noted that only two posts directly came via Professor Crypto. Additionally, some industry observers mentioned they had not heard of Professor Crypto prior to his award. NFT artist Matthew Varnell and Laurence Day, co-founder of Wildcat Labs, remarked on who this so-called influencer actually was.

The United States Securities and Exchange Commission (SEC) has reached an agreement with Flyfish Club, the entity behind a prominent NFT-based restaurant membership initiative. Under the settlement, Flyfish is required to pay $750,000 in civil penalties due to allegations of conducting an unregistered crypto asset securities offering.

Context Is Key

The filing by the SEC indicates that between August 2021 and May 2022, Flyfish engaged in an unregistered offering of crypto asset securities, selling around 1,600 non-fungible tokens (NFTs) to the public, including U.S. investors, at two different price levels.

The SEC claims Flyfish raised approximately $14.8 million between January 2022 and May 2022. This sum was generated by selling about 1,620 NFTs to the public, including U.S. investors. The NFTs were priced at 2.5 ETH and 4.25 ETH for Omakase membership, which was intended to provide exclusive access to a members-only restaurant in New York City. The SEC concluded that Flyfish offered and sold these NFTs as investment contracts, classifying them as securities under the Howey test and citing various factors supporting this classification.

Damage Control

As part of the settlement, Flyfish has agreed to meet the requirements put forth by the SEC, including destroying all NFTs in its possession within 10 days, posting a notice of the order on its website and social media platforms, and removing all links to crypto asset trading platforms through these channels.

Additionally, the company will inform secondary market trading platforms that it will not accept further royalties by Flyfish NFTs and assist the SEC staff in managing a distribution plan. While Flyfish has neither admitted nor denied the allegations, the $750,000 penalty will be paid in installments, $350,000 within 14 days of the order, $200,000 by December 31st, 2024, and the remaining $200,000 within 12 months of the order.

Circle is facing criticism for delaying the freeze of nearly $5 million linked to Lazarus Group, a North Korean group known for major cryptocurrency hacks. Many stablecoin issuers, including Circle, have been scrutinized after funds tied to the Lazarus Group were not promptly frozen, drawing significant backlash.

ZachXBT Gets Involved

On September 14th, blockchain analyst ZachXBT revealed that stablecoin providers such as Tether, Circle, Paxos, and Techteryx blacklisted two wallets linked to the Lazarus Group, containing around $4.96 million. However, $720,000 in DAI and $313,000 in Ethereum remain unfrozen.

This follows an investigation by ZachXBT in April, which discovered that the Lazarus Group laundered over $200 million through 25 crypto-related hacks between 2020 and 2023. He noted that $6.98 million has been frozen in total, with $1.65 million across various exchanges, though specifics were not disclosed.

Lack Of Responsibility

ZachXBT specifically criticized Circle, the issuer of USDC, for its slow response compared to other stablecoin providers, accusing the company of prioritizing profit over security. He also pointed out an inherent lack of an incident response team despite its large workforce.

Regardless, Lazarus Group continues to pose a significant threat, with major hacks including a recent $20 million attack on the Indodax exchange. It is believed the stolen funds support North Korean weapons programs. The findings by ZachXBT underscore the need for quicker action by platforms like Circle in dealing with such threats.

Singaporean authorities are reportedly investigating unauthorized sales of Worldcoin accounts, raising concerns about potential misuse for money laundering or terrorism financing. The development comes during a time when Singapore is looking to become a global hub for digital assets and innovation, which also means local regulations are becoming increasingly tightened.

Previously, Paxos secured a preliminary license in Singapore by local authorities, paving the way for Paxos Digital Singapore Pte. Ltd. to initiate digital payment token services under the Payments Services Act.

Operating Without A License

In Singapore, an inquiry targets seven individuals allegedly involved in illegal transactions of Worldcoin accounts and tokens. Deputy Prime Minister Gan Kim Yong, who also heads the Monetary Authority of Singapore (MAS), revealed this investigation during a parliamentary session on September 9th. The individuals are under scrutiny for operating payment services without the required licenses, which may breach the Payment Services Act (PS Act) of 2019.

The Singapore Police issued a public advisory against Worldcoin account transfers on August 7th, warning that such accounts might be used for illicit activities. Gan advised caution against offers to transfer control of digital payment wallets or World IDs, highlighting the risk of exploitation by third parties.

Data Privacy Concerns

The Personal Data Protection Act (PDPA) in Singapore regulates personal and biometric data. Yong emphasized the need for stringent security measures for organizations handling such data. Worldcoin, which uses biometric verification like iris scans, has repeatedly faced global regulatory scrutiny.

As a matter of fact, several countries, including India, China, Germany, Brazil, and Kenya, have investigated the company, with European authorities in Spain even suspending its biometric data collection in March 2023 due to GDPR concerns. Despite these challenges, Worldcoin has grown rapidly, reaching over 10 million users globally as of April 2023.

The creator of the short-lived mobile game Flappy Bird is reportedly not involved with a group claiming to revive the game after a decade. Dong Nguyen took to X on September 15th, rejecting any association with the planned re-release and expressing his disapproval of cryptocurrency.

An Arduous Process

The Flappy Bird Foundation, which acquired the trademark via Gametech Holdings LLC, announced its return on September 13th. They claimed that re-releasing the game involved acquiring legal rights and working with the corresponding predecessor. Nguyen responded firmly that he did not sell anything and emphasized he does not support crypto.

Launched in May 2013, Flappy Bird was a viral hit, topping the App Store and earning $50,000 a day before Nguyen pulled it down in 2014, citing its addictive nature. It got to the point where people were going out of their way to purchase smartphones at ludicrous prices just to play the game.

Involving Crypto

Hints suggest the new version might involve cryptocurrency. Hidden pages on the official website hinted at a token and a Web3 model, with references to Solana (SOL) and Play-to-Earn (P2E) mechanics. A prototype also mentioned a $FLAP token and rewards linked to the Telegram-based TON blockchain.

Michael Roberts of 1208 Production, leading the project, has yet to comment. Researcher Varun Biniwale speculates the revival could be more about cashing in on nostalgia and crypto than simply relaunching the beloved game.

Universal Health Token (UHT) secured $1.20M in Pre-Seed funding with help by Animoca Brands. Universal Health Token is a gamified healthcare platform that incentivizes preventive healthcare using blockchain technology.

INFINIT obtained $6M in Undisclosed funding with assistance by Hashed Fund. INFINIT is a DeFi Abstraction Layer that simplifies the process of launching and scaling DeFi ecosystems across various blockchains, including Layer 1s, Layer 2s, and modular chains.

Titan Network acquired an undisclosed amount in Seed funding with support by Arrington XRP Capital. Titan Network is a digital resource platform that connects idle community resources with global demand, enabling users to engage in DePIN (Decentralized Physical Infrastructure Network) services.

OpenEden secured an undisclosed amount with help by Binance Labs. OpenEden offers a smart contract vault managed by a regulated entity, providing 24/7 access to U.S. Treasury Bills (T-Bills) through the OpenEden TBILL Vault.

GasHawk obtained $1.60M in Pre-Seed funding with assistance by Alchemy. GasHawk is a free tool designed to help users save on Ethereum gas fees by submitting transactions when fees are lower.

Wingbits acquired $3.50M in Seed funding with help by Tribe Capital. Wingbits is focused on improving aviation safety and efficiency using advanced flight tracking technology. It incentivizes users to set up hardware to capture Automatic Surveillance-Broadcast (ADS-B) transmissions through commercial aircraft. 

Castile raised $8M in Undisclosed funding with support by SevenX Ventures. Castile is an AAA-quality rogue-like idle card RPG developed by Nytro Lab. It showcases the Play and Trade model, where players can enjoy a high-quality gaming experience while trading in and out of the game.

Blum secured an undisclosed amount with help by Binance Labs. Blum is a hybrid exchange that facilitates trading across multiple chains without the need to switch chains or pay native token gas fees.

Huma Finance obtained $38M in Series A funding with assistance by HashKey Capital. Huma is an income-backed lending protocol that allows businesses and individuals to borrow against future income by connecting with global investors on-chain.

BTA Protocol secured an undisclosed amount in Extended Series A funding with help by Crypto Labs. BTA Protocol is a decentralized ecosystem that offers various features, including Staking, Liquidity Provision, a Reward Sharing Program (RSP), Launchpool, and Lending protocols, providing users with multiple ways to engage and earn within the ecosystem.