Chinese tickers scam ($HKD and more!) for collateral already down 92%: from $.5 Trillion to $43B

This is a follow up to the big chinese ticker scam, which became the highest by-market-crap-on-the-books crime in human history, as well as another recent ticker scam. Firstly, good job for staying away from these. MSM did try hard to call them ‘mEmE StOcKs’. MSM tried even harder to push innocent investors like you and Read more about Chinese tickers scam ($HKD and more!) for collateral already down 92%: from $.5 Trillion to $43B[…]

Cryptocurrency firm Nomad offers 10% bounty to hackers who stole $190 million

Hackers recently stole $190 million from cryptocurrency cross-chain token platform Nomad, and now the company says it will pay a bounty to the thieves if they return those assets. Nomad says it will pay the hackers an amount that is worth up to 10% of the stolen funds and call off its lawyers after the Read more about Cryptocurrency firm Nomad offers 10% bounty to hackers who stole $190 million[…]

Riot Blockchain Made More in Power Credits Than Mining Bitcoin

At least one big bitcoin mining operation in Texas that was not actually mining much bitcoin during this season’s record-breaking heat netted millions of dollars in profits—more than they would have if they just kept on mining without any shutdowns. It’s thanks to power purchase agreements signed with the local grid, allowing them to sell Read more about Riot Blockchain Made More in Power Credits Than Mining Bitcoin[…]

AMTD Digital / $HKD massive pump and dump squeeze, Reddit shocked but figuring out who dun it

HKD, a spinoff IPO with 51 employees within the space of a few days had a stock price explosion up to around $2555 per stock from around $75 starting on 28th July. No buy button was disabled (as was the case with Gamestop / $GME) and within a few days the rug was pulled on Read more about AMTD Digital / $HKD massive pump and dump squeeze, Reddit shocked but figuring out who dun it[…]

Solana ‘hot’ wallets are being drained in multi-million dollar attack

An unknown actor has drained over 8,000 internet-connected wallets in an ongoing attack on the Solana blockchain ecosystem. According to Blockchain auditor OtterSec, the attacks were still ongoing when it posted an update in the evening of August 2nd and that they had affected multiple wallets, including Phantom, Slope, Solflare and TrustWallet, across a wide Read more about Solana ‘hot’ wallets are being drained in multi-million dollar attack[…]

Nomad Bridge Hack Allowed ‘Mob’ to Drain $190m in Crypto

As evidenced by its namesake, apparently there wasn’t much security stopping a hoard of wandering strangers from breaking into the Nomad DeFi project’s token bridge, allowing hundreds of unknown hackers and some users to walk away with over $190 million crypto, leaving behind a bare pittance in the project’s wallet. Late on Monday, users started Read more about Nomad Bridge Hack Allowed ‘Mob’ to Drain $190m in Crypto[…]

Visa Funded Alleged Pornhub / MindGeek Child Porn, Rules Judge

In a setback for Visa in a case alleging the payment processor is liable for the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek, a federal judge ruled that it was reasonable to conclude that Visa knowingly facilitated the criminal activity. On Friday, July 29, U.S. District Judge Cormac Read more about Visa Funded Alleged Pornhub / MindGeek Child Porn, Rules Judge[…]

Babel Finance Traded $280 Million of Users’ Crypto, Lost it All. Line not go up any more.

Babel Finance, the Hong Kong-based crypto lender, apparently had other designs when its worldwide user base handed over their crypto to the company than just borrowing and lending. It seems to have been doing what everyone else does with crypto, rapidly speculating and trying to make “line go up.” Of course, all that changed when Read more about Babel Finance Traded $280 Million of Users’ Crypto, Lost it All. Line not go up any more.[…]

China fines ride-sharer DiDi $1.2bn for data privacy abuse – why is China leading the world in this?

The Cyberspace Administration of China has fined ride-sharing company DiDi global ¥8.026 billion ($1.2 billion) for more than 64 billion illegal acts of data collection that it says were carried out maliciously and threatened national security. Yes, we do mean billion. As in a thousand million. The Administration enumerated DiDi’s indiscretions as follows: 53.976 billion Read more about China fines ride-sharer DiDi $1.2bn for data privacy abuse – why is China leading the world in this?[…]

Google forced to allow some Android apps to use third-party payments in the EU

Android developers who distribute apps on the Google Play store can now use third-party payment systems in many European countries. The measure applies to the European Economic Area (EEA), which comprises European Union states as well as Iceland, Liechtenstein and Norway. However, the policy will not apply to gaming apps, which still need to use Read more about Google forced to allow some Android apps to use third-party payments in the EU[…]

Russia fines Google $374M over Ukraine invasion portrayal

A Russian court fined Google $374 million on Monday for its failure to remove prohibited content, according to the country’s internet watchdog Roskomnadzor. The Tagansky District Court of Moscow took exception to YouTube content it claimed contained “fakes about the course of a special military operation in Ukraine” and discredited Russia’s armed forces. The court Read more about Russia fines Google $374M over Ukraine invasion portrayal[…]

UK court okays $1.1b Play Store lawsuit against Google

A London court on Tuesday authorized a lawsuit that seeks to have Google pay £920 million ($1.1 billion) for overcharging customers for app store purchases. Filed as a class action on behalf of 19.5 million UK citizens, the suit alleges Google charged commission fees up to 30 percent on app sales. Consumer rights advocate Liz Read more about UK court okays $1.1b Play Store lawsuit against Google[…]

Apple Pay illegally profited by walling off contactless payments, lawsuits in EU, US allege

A proposed class-action lawsuit filed on behalf of payment card issuers accuses Apple of illegally profiting from Apple Pay and breaking antitrust laws. Iowa’s Affinity Credit Union is listed as the plaintiff in the complaint, filed today in the US District Court for the Northern District of California. The lawsuit alleges that by restricting contactless Read more about Apple Pay illegally profited by walling off contactless payments, lawsuits in EU, US allege[…]

Ubisoft Teaches Customers They Don’t Own All That DLC They ‘Bought’

While we were just discussing how everyone occasionally gets reminded that for many digital goods these days you simply don’t actually own what you’ve bought, all thanks to Sony disappearing a bunch of purchased movies and shows from its PlayStation platform, this conversation has been going on for a long, long time. Whereas the expectation Read more about Ubisoft Teaches Customers They Don’t Own All That DLC They ‘Bought’[…]

Google files a lawsuit that could kick Tinder out of the Play Store because Match refuses to pay illegally forced fees

Google has counter-sued Match seeking monetary damages and a judgement that would let it kick Tinder and the group’s other dating apps out of the Play Store, Bloomberg has reported. Earlier this year, Match sued Google alleging antitrust violations over a decision requiring all Android developers to process “digital goods and services” payments through the Read more about Google files a lawsuit that could kick Tinder out of the Play Store because Match refuses to pay illegally forced fees[…]

BMW Heated Seats Subscription Is Real And It Costs $18 Per Month. Also heated steering wheel, paid separately. In a car you own and paid for the heated seats and wheel.

[…] On its ConnectedDrive Store in South Korea, BMW owners can pay a monthly fee to have a creature comfort such as heated seats. It costs ₩24,000 or approximately $18 at current exchange rates. Alternatively, you can get a one-year plan for $176 or a three-year subscription for $283. The BMW ConnectedDrive Store is a Read more about BMW Heated Seats Subscription Is Real And It Costs $18 Per Month. Also heated steering wheel, paid separately. In a car you own and paid for the heated seats and wheel.[…]

You Don’t Own What You’ve Bought: Sony Removes 100s Of Movies Bought Through PS Store

We have done many, many posts explaining how, unfortunately, it seems the idea of a person owning the things they’ve bought has become rather passe. While in the age of antiquity, which existed entire tens of years ago, you used to be able to own things, these days you merely license them under Ts and Read more about You Don’t Own What You’ve Bought: Sony Removes 100s Of Movies Bought Through PS Store[…]

Amazon offers to share data, boost rivals to dodge EU antitrust fines

Amazon (AMZN.O) has offered to share marketplace data with sellers and boost the visibility of rival products on its platform, trying to persuade EU antitrust regulators to close their investigations without a fine by the end of the year, people familiar with the matter said. The world’s largest online retailer is hoping its concessions will Read more about Amazon offers to share data, boost rivals to dodge EU antitrust fines[…]

European Union passes landmark laws to rein in big tech, but worres about enforcement

[…] the European Union has passed a pair of landmark bills designed to rein in Big Tech’s power. The Digital Markets Act and Digital Services Act are intended to promote fairer competition, improve privacy protection, as well as banning both the use of some of the more egregious forms of targeted advertising and misleading practices. Read more about European Union passes landmark laws to rein in big tech, but worres about enforcement[…]

Scaling the cost of government programs using a cost-per-person price tag improves comprehension by the general public

Government policies often are presented with hefty price tags, but people often zone out as more zeros are added to the total cost. A new study from Carnegie Mellon University suggests that rescaling the cost of programs can increase a person’s understanding of funding choices, which may improve how people participate in the policy debate. Read more about Scaling the cost of government programs using a cost-per-person price tag improves comprehension by the general public[…]

DeGiro online broker fined EUR 2 million for failing to report unusual transactions

On 23 December 2021, the Netherlands Authority for the Financial Markets (AFM) appears to have imposed an administrative fine of 2 million euros on the DeGiro of the German company flatexDEGIRO Bank AG (FlatexDeGiro) because the online broker reported unusual transactions too late and incorrectly to Financial Intelligence. Unit – Netherlands (FIU). DeGiro did this Read more about DeGiro online broker fined EUR 2 million for failing to report unusual transactions[…]

Coinbase Is Selling Data on Crypto and ‘Geotracking’ to ICE

Coinbase Tracer, the analytics arm of the cryptocurrency exchange Coinbase, has signed a contract with U.S. Immigrations and Customs Enforcement that would allow the agency access to a variety of features and data caches, including “historical geo tracking data.” Coinbase Tracer, according to the website, is for governments, crypto businesses, and financial institutions. It allows Read more about Coinbase Is Selling Data on Crypto and ‘Geotracking’ to ICE[…]

‘Cryptoqueen’ On FBI’s Most Wanted List – on the run with $2.5 billion ponzi-ing suckers

FBI officials and federal prosecutors announced Ignatova’s new designation in a press conference Thursday. Ignatova was charged in 2019 with wire fraud, securities fraud, and conspiracy to commit money laundering for her part in the OneCoin crypto company that prosecutors alleged was just a ponzi scheme. Michael Driscoll, the FBI’s assistant director-in-charge for New York Read more about ‘Cryptoqueen’ On FBI’s Most Wanted List – on the run with $2.5 billion ponzi-ing suckers[…]

No anti money laundering Checks For Most Transfers To Unhosted Crypto Wallets, EU Policymakers Decide

The European Union (EU) finally agreed on landmark anti-money laundering rules for crypto transactions Wednesday, despite industry concerns over the law harming privacy and innovation. The final proposals will mean customer identity needs to be verified for even the smallest crypto transfers, if it’s between two regulated digital wallet providers – but payments to unhosted Read more about No anti money laundering Checks For Most Transfers To Unhosted Crypto Wallets, EU Policymakers Decide[…]