Blockchain researcher Peckshield has warned people to increase their private key security against the growing risk of phishing attacks.
The warning comes after hackers recently took control of Gate.io’s Twitter account and changed the website’s URL to gte.com, a fake website impersonating a crypto exchange.
#PeckShieldAlert #Phishing It looks like Crypto-exchange Gate[.]io verified Twitter account @gate_io has been compromised & has been used to share links to fraudulent $USDT GIVEAWAY.
see[.]com is a phishing site.
Thanks @aayushrai11 and @gpolice for intel pic.twitter.com/cpZ6CgAADm
— PeckShieldAlert (@PeckShieldAlert) October 22, 2022
In a fake promotion, the website claims to offer a prize of 500,000 USDT and encourages visitors to connect a wallet, such as MetaMask, with the platform to collect cryptos.
UK Mulls Bill Financial Amendment To Include Cryptos
Britain plans to amend the Financial Services and Markets Bill to regulate the crypto market. The bill, introduced by Andrew Griffith, parliament and finance secretary, is being debated in parliament.
Most crypto companies are currently not regulated by the Financial Conduct Authority (FCA). The bill, when enacted into law, will make it mandatory for crypto companies to register with the FCA next year. The law aims to prevent money laundering and terror financing.
EU To Regulate DeFi Space
The European Union is considering regulating the cryptocurrency space amid growing fraud and hacks, said Tarik Roukny, an assistant professor at the University of Leuven in Belgium.
Roukny told the European Commission, the executive body of the European Union, that decentralized finance (DeFi) may need new voluntary regulation to manage the serious threats facing the crypto market.
He said that the current measures for the financial market are not enough to handle the risk because many players involved in providing crypto wallets and stablecoins can hide their identity.
However, he said, “DeFi tools hold credible promise for new forms of financial services adapted to a global, competitive, fair, and digital economy.”
Argentina Busts Crypto Mining Farms
Argentina’s tax collection agency AFIP and Buenos Aires provincial authorities have detained 40 people after 70 raids on illegal crypto mining businesses, the government said on Friday.
AFIP has also seized “a large amount of cash and crypto mining equipment,” it said.