Sandbox CEO’s Twitter Hacked to Promote Crypto Scam [ Crypto Espresso 5.29.23 ]

Happy Monday and happy Memorial Day you Know most Americans have this day off But for me the thought of not working Makes me feel very Un-American you know Anyway I'm your host Andrew this is Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines and We're just gonna roll into it first up a Recent report indicates that popular Metaverse properties including those Found in other Deeds the sandbox Decentral and insomnium and voxels have Suffered significant losses in value Over the past year virtual lands in These top metaverses have seen a Depreciation of about 90 from their Peak Prices in 2022 other Deeds previously a High-priced property selling for five Eth has experienced a 78.2 percent drop While the sandbox and decentralized Properties are down by 89.76 and 87.88 Respectively the cheapest land is Currently found in voxels which Currently sells for 0.16 eth facing a 93.8 percent loss Apple meanwhile is Preparing to launch a mixed reality Headset which could ignite renewed Global interest in the metaverse market Analyst Josh Gilbert from etoro believes That Apple's track record of delivering High quality and Market shifting Products could have a significant impact On the markets according to a report From Apple Insider Mark German the

Highly anticipated Apple headset is Expected to be announced on June 5th Crypto critic Peter Schiff known for his Disdain towards cryptocurrencies and Nfts has surprisingly revealed plans to Launch his own nft art collection based On bitcoin The Economist and vocal Crypto skeptic announced the Collaboration on a Twitter thread Showcasing the golden Triumph collection Created in partnership with an artist Known as market price The Collection Includes a physical painting 50 prints And 50 digital versions inscribed as Ordinal nfts on the Bitcoin blockchain The news has left the crypto Community Somewhat divided with some expressing Bewilderment and amusement others Welcoming the unexpected turn of events As they also highlight the perceived Hypocrisy and schiff's actions the Upcoming two-part auction for the golden Triumph collection is scheduled to begin On June 2nd and end on June 9th Interestingly while Schiff recognizes The value of inscribing gold on bitcoin Through the ordinal nfts he still Maintains his belief that Bitcoin itself Lacks value in the latest decentralized Finance protocol hack Jimbo's protocol Which is found on arbitrum has fallen Victim to an attack resulting in the Loss of 7.5 million dollars worth of eth The attack exploited the absence of

Slippage control on liquidity Conversions allowing the attacker to Manipulate swap orders in their favor Launched less than 20 days ago Jimbo's Protocol aimed to address liquidity and Volatile token prices but lacked robust Secure mechanisms for achieving that end Goal which led to the vulnerability and As you'd expect the price of the Underlying token Jimbo experienced a Significant 40 drop despite efforts to Enhance security measures the defy Ecosystem continues to grab with the Challenge of safeguarding against Vulnerabilities and unauthorized access Arthur Madrid the CEO of the sandbox Some metaverse project fell victim to a Twitter account hack on May 26th Madrid Announced the incident in a post after Recovering his account warning users About a fake airdrop fishing scam the Attacker or group of attackers had used Madrid's account to promote the scam Urging users to click on suspicious Links and claim tokens the official Twitter account of the sandbox also Alerted followers to the scam sharing a Screenshot of the fraudulent post and Stating that they were actively working To take down the fraudulent website Associated with the scam according to The cyber security firm Kaspersky Phishing attacks in the crypto space Have increased by 40 in 2020 compared to

The previous year which highlights the Persistent threat faced by users and Finally binance one of the leading Cryptocurrency exchanges maybe you've Heard of them is making its return to The Japanese Market by establishing a Fully regulated subsidiary in the Country the move comes after binance Acquired Sakura Exchange change Bitcoin A regulated crypto Exchange in November Of 2022 scbc will cease its services by The end of May and reopen as binance Japan in the coming weeks users in Japan Will need to register with the new Entity and the migration process will Begin after August 1st 2023 with a new Identity verification process to comply With local regulations bitcoin's Strategy of expanding its Global reach Involves acquiring locally regulated Entities similar to its moves in Singapore Malaysia and Thailand in Japan Binance had previously exited the market In 2018 due to the lack of an Independent license from local Regulators Japan known for its early Introduction to crypto regulations has Implemented measures such as the Separation of client funds from other Assets which actually proved pretty Beneficial during the recovery of funds At FTX Japan earlier this year and say It with me people binance is the parent Company of coin market cap and also say

With me I definitely will like this Video subscribe to this YouTube channel And click on that little bell icon to Get buzzed whenever a new crypto Espresso video goes live live don't just Say it either do it thoughts on today's Episode well just drop me a line in that Comment section because I read them yeah Even on holidays in the US I'm that Dedicated questions about today's Headlines or crypto in general take the Plunge and desk Alex in that description Below Alex is always a great resource For all things web 3 and the metaverse And that amount does it for today as Always I've been your host Andrew these Have been your headlines and we'll see All of your beautiful shining faces Tomorrow