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South Korea Crypto Exchange Pure Bit Pulls Exit Scam With 13,000 ETH ($2.8 Million)

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The crypto industry is no stranger to cases of fraud, hackings and related scams that have seen millions worth of crypto stolen or ‘lost.’

And that trend seems set to continue, this time with news that a South Korea-based cryptocurrency exchange has pulled an exit scam on its investors.

South Korea Crypto Exchange Pure Bit Pulls Exit Scam With 13,000 ETH (.8 Million)
Source: https://www.pure-bit.com/

Pure Bit pulls massive exit scam

According to reports, Pure Bit has disappeared into thin air, making off with over 13,000 ETH (about $2.8 million) raised from its investors.

South Korea Crypto Exchange Pure Bit Pulls Exit Scam With 13,000 ETH (.8 Million)

Korean news outlet alerted its readers about the scam on its Twitter account, later adding that Pure Bit’s CEO had replaced his official Kakao account name with a sarcastic “I’m Sorry” note. Kakao Talk is a popular South Korean social media platform.

South Korea Crypto Exchange Pure Bit Pulls Exit Scam With 13,000 ETH (.8 Million)Also disappearing from the public view is the exchange’s Website and the Facebook pages that have suddenly become “unavailable.”

Various commentators on Reddit and other social media platforms have noted that the company’s executives have removed most of the contact information that links to the Pure Bit.

Erasing its tracks

Although there seems to be a deliberate attempt to erase any trace of the company, a search on Archive.org shows the company’s website before being taken offline.

South Korea Crypto Exchange Pure Bit Pulls Exit Scam With 13,000 ETH (.8 Million)Pure Bit ICO – Pure Coin (PURE)

Pure Bit wanted to launch its own ICO, using much the same model as that employed by other exchanges to roll out crypto tokens. The platform’s coin would be called Pure coin (PURE) and would have been used on the Pure Bit exchange.

The appealing communication could have enticed some of the investors in the private pre-sale, part of which said that investors could “get a portion of the exchange’s return just by having a PURE COIN.”

The company’s pre-sale was set to complete in days as it looked to launch its coin on the Ethereum blockchain.

Pure Bit’s attractiveness appears to have been in its “mining coin” concept a deal that would have seen token holders benefit from dividend-like earnings on the exchange.

The exchange also promised to give a 30% discount to traders whenever they use PURE to pay for the transaction fee, similarly to Binance’s BNB. Another promise was the burning of up to 90 percent of the PURE token over three years through its innovative “mining” model.

A translation of the site’s page loosely says that:

 “… PURE COIN is a 3rd generation mining coin that includes dividend + mining + incineration.”

There have been a number of high profile exit scams in the crypto industry, with the purported lack of clear regulatory oversight contributing to the scenario.

Some of the largest exit scams include:

  1. Shenzen Puyin Blockchain – $60 million
  2. Cryptokami – $12 million
  3. NVO – $8 million
  4. LoopX – $4.5 million

As the story develops, the main concern will be the impact this latest exit scam has on the ICO situation in South Korea. The country’s authorities are set to give directions on the push to have initial coin offerings legalized.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://xbt.net/blog/south-korea-crypto-exchange-pure-bit-pulls-exit-scam-with-13000-eth-2-8-million/

Blockchain

Studyum’s IDO Parners With Astronaut: Goes Multi-Chain

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[PRESS RELEASE – Please Read Disclaimer]

Studyum, a 3D knowledge matrix that combines advanced technologies to bring learning to another level, will be available across launchpads and blockchains, having partnered with a BSC-based fundraising platform Astronaut. Astronaut is a specialized launchpad for decentralized projects recognized for their faster transaction times and lower gas fees. Astronaut’s alternative operation and Studyum’s unique model relying on blockchain technology will indubitably contribute to the development of a seamless IDO experience.

The fast-evolving technology has been the harbinger of change throughout humanity’s existence. After notable tech advancements, people are expected to instantly integrate them into their lives. The COVID-19 pandemic only expedited this process and, today, we are facing a skilling, reskilling, and upskilling emergency, unlike anything we’ve ever seen before. To integrate the tech-imposed alterations, the world needs a singular solution that can function alongside technological advances. Studyum is such a solution.

Operating entirely on the blockchain and supported by the latest innovations, Studyum is a learning management system (LMS) of the future. The edtech platform is using augmented reality and volumetric videos to provide a unique training experience to athletes and sports enthusiasts, with a highly interactive interface that will span across disciplines. Using a facial recognition system supported by a “learn and earn” reward system, the platform rewards learner performance and engagement with their native STUD token. Implementing AI and machine learning, Studyum can offer individualized care and feedback to students, enabling scalable and quality education everywhere.

Having already partnered with several leading companies and individuals, Studyum has been skyrocketing toward success for quite a while now. Numbering the mastermind strategist Gil Petersil and a Cardano-based launchpad Occam.fi among its strategic partners, the Studyum team hinted that this is only a shadow of the exciting things to come. Now, they partnered with Astronaut, the next-gen BSC launchpad, to enable a multi-chain IDO.

“Studyum has been raised to a completely new level thanks to our partnership with Astronaut. By moving our IDO to more platforms and blockchains, we are creating a solution compatible with the multi-chain approach. We are excited to see Studyum develop into a scalable platform so early in the process.” – Igor Dyachenko, Studyum’s CEO and co-founder

Astronaut has created a fundraising environment powered by the Binance Smart Chain that is secure and profitable for both decentralized projects and investors. The launchpad operates via secure KYC checks and locked liquidity, enabling exclusive early access that doesn’t require large investments of capital. By locking the liquidity of projects instead of burning it, Astronaut has found a safe alternative to fundraising that shows greater gain to decentralized projects and prevents “rug-pulling,” safeguarding investors from scams and frauds.

Accessibility across blockchains and launchpads is definitely a step forward for the uprising LMS. Becoming a multi-chain solution means Studyum’s capacity has been significantly increased. Those interested in purchasing $STUD will be able to do so with lower fees and faster transaction processing.
Studyum’s IDO has been announced for the end of October when it will launch on multiple platforms. All interested parties are encouraged to read more about the project and its mission from their whitepaper and pitch deck.

About Studyum.io

Studyum is a three-dimensional knowledge matrix for students and educators. Groundbreaking technology developed on a decentralized blockchain infrastructure, the platform provides a secure environment perfect for quality learning, teaching, and training on a level never seen before. Relying on the latest technological advancements and confirmed scientific theories, Studyum grants space for individuals to improve themselves in an engaging and fulfilling way.

About Astronaut

Astronaut is a protocol built for decentralizing the way in which new projects and ideas coming to the BNB ecosystem raise capital. The platform allows cryptocurrency projects to raise funds by setting up a pool based on a fixed purchase rate for tokens. With Astronaut, decentralized projects will be able to raise and exchange capital in a cost-effective accelerated manner. Astronaut’s mission is to provide a secure and interoperable environment on the Binance Smart Chain for its users.

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Source: https://cryptopotato.com/studyums-ido-parners-with-astronaut-goes-multi-chain/

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Blockchain

Giveaway scam leaves Bitcoin.org domain down for hours 

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At the time of writing, Bitcoin.org’s web address appeared inaccessible to users after a possible phishing attack was reported earlier today. According to observers, suspicious scam giveaways were being featured on the website before it was taken down by hosting provider Namecheap.com 

Bitcoin.org is an open-source project that claims to support Bitcoin education and development. However, on visiting the site today, users saw a ‘Bitcoin Foundation’ pop-up that claimed to double the funds of users who send BTC to a given address. 

The aforementioned message also said that only the first 10,000 users can avail of the offer.

What’s more, the message also claimed that the Bitcoin Foundation is “giving back to the community.” Here, it is worth noting that the Bitcoin Foundation is a separate entity with the domain name bitcoinfoundation.org. That has no affiliation with Bitcoin.org.

The educational resource site is operated by someone under the pseudonym Cobra.  

Fortunately, most were quick to spot that this was another phishing or giveaway scam that asked for an initial payment. The victims do not receive any rewards and lose the payments sent, and can even lose access to their wallets in a hack.

Even so, data suggested that this giveaway scam was shut down after receiving a little over $17,000 in small transactions.

At press time, Bitcoin.org was down with a “404 Not Found” error. 

In the past, scammers have used crypto-influencers to accelerate fund collection on Twitter. Dozens of “verified” accounts have been created in the past, including Vitalik Buterin and Elon Musk, to raise funds for such endeavors.

What’s more, according to a U.S. Federal Trade Commission report, these impersonators managed to collect $2 million in cryptocurrencies in just six months. 

Recently, another cryptocurrency giveaway scam called the “Elon Musk Mutual Aid Fund” or “Elon Musk Club” was reportedly underway through spam emails. While there are several ways to gain access to users’ crypto funds, QR antics have been back in the news lately. 

According to Malwarebytes and the Better Business Bureau (BBB),

“Rogue QR code antics have been back in the news recently. They’re not exactly a mainstay of fakery, but they do tend to enjoy small waves of popularity as events shaped by the real-world remind everyone they still exist.”

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Source: https://ambcrypto.com/giveaway-scam-leaves-bitcoin-org-domain-down-for-hours

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After Nailing Cardano’s Meteoric Rise, DeVere Group CEO Unveils New Predictions for ADA, Ethereum, and XRP

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After accurately predicting Cardano’s rise to $3.00, the CEO of financial advisory firm deVere Group is unveiling his latest set of crypto predictions.

The price of ADA now hovers at $2.22 after hitting $3.10 on September 2nd, but Nigel Green tells Business Insider that the third-largest cryptocurrency by market cap will resume its rally and hit $4 by the end of the year.

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He points to a broader crypto rally, the recent rollout of smart contract functionality, and Cardano’s reputation as a “green” currency as fundamental factors that will drive adoption.

Green says he is also bullish on Ethereum based on the same standard. He anticipates Bitcoin will rally to $65,000 within the year, but believes that ETH will outperform the benchmark crypto.

“First, Ether has a higher level of real-use potential as Ethereum, the platform on which it is the native cryptocurrency, is the most in-demand development platform for smart contracts.

Second, investor enthusiasm for the game-changing transition to ETH 2.0, which makes the Ethereum network considerably more scalable, sustainable, and secure.”

Green also believes XRP is will likely witness a rally that will be reminiscent of Cardano’s meteoric rise.

“According to most analysis, XRP could experience a breakout similar to that of Cardano over the next few months.”

Green is also sharing how he predicts the success of crypto assets.

“Things you should be looking at are, the purpose of the cryptocurrency, how long it has been in the market, market capitalization, and its underlying solutions.

Cryptocurrencies that solve problems are likely to succeed more than those that do not.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Source: https://dailyhodl.com/2021/09/23/after-nailing-cardanos-meteoric-rise-devere-group-ceo-unveils-new-predictions-for-ada-ethereum-and-xrp/

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