NFT News Official TheBitTimes.com

A U.S. federal court recently used on-chain tech to lock criminals out of their crypto on the Jurat Network. Its founder, Mike Kanovitz, admits it could see hate from crypto purists. The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption.  On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort cryptocurrency payments to benefit North Korea’s weapons program. A court just entered final judgment in a federal lawsuit and the court used @JuratNetwork to enforce its order on -chain ! The judge enjoined Russian and North Korean hackers from accessing their accounts, making $JTC the first crypto currency to comply with @USTreasury… — Mike Kanovitz (@MikeKanovitz) August 8, 2023 Speaking to C...

The account has made multiple posts promising a token giveaway and ushers users to a copycat website to connect their crypto wallet. The X (Twitter) account of crypto-focused venture capital firm Blockchain Capital has seemingly been taken over by scammers attempting to lure users with the promise of a token claim . On Aug. 9, Blockchain Capital's account made multiple posts promising a giveaway of "BCAP" token s and directed users to a copycat website that emulates the appearance of the VC firm's original. Scammers posting a link to a fake Blockchain Capital website under the guise of a token claim. Source: X The copycat website — which includes an additonal "n" in the URL — directs users to connect their crypto wallet, a common tactic used by phishing scammers in order to drain user funds. The scammers tactically turned off the comments section in an attempt to prevent others from warning of the possible scam. This is fake. Don’t get scammed. https://t...

Some analysts have provided possible ways the exchange was exploited and pinned potential initial losses at over $600,000. Decentralized exchange LeetSwap, which operates on Coinbase’S Base network has announced a sudden pause to trading , citing concerns of a potential exploit . LeetSwap tweeted on Aug. 1 that it noticed some of its liquidity pools may have been compromised and has temporarily able stopped trading to investigate. Algorithmic market maker Wintermute’s research head Igor Igamberdiev was among those sharing theories on how the exploit may have worked, saying the attacker could have used an exposed smart contract function. Related: Pro-XRP lawyer Jeremy Hogan’s scam tweet bonanza finally falls silent The function would have allowed them to undertake a series of token swaps eventually allowing them to drain liquidity pools on LeetSwap. It was easy: - swap a bit of WETH for X tokens (should have fees) - call _transferFeesSupportingTaxTokens(address, uint256) to move tok...