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🌐 Turkey Takes a Leap Towards Global Crypto Compliance

💼 In a groundbreaking move, Turkey is stepping up its game in the crypto industry. The ruling party has introduced a draft bill to bring the nation's regulations in line with international standards.

👌 The proposed legislation covers all the bases, from trading platforms to asset storage. It's a comprehensive effort to ensure that Turkish residents can engage in crypto transactions with confidence.

🔒 With an eye on consumer protection, the bill requires licensing and registration for all crypto service providers. The goal? To create a safe and transparent environment under the watchful eye of the Capital Markets Board.

💪 The government isn't stopping there. They're giving the CMB more power to safeguard user assets, recognizing Turkey's growing importance in the global crypto landscape.

🚫 But it's not just about local control. Turkey wants to play by the rules of the game, and that means keeping up with the Financial Action Task Force (FATF). Their "Travel Rule" is making its way into Turkish law, ensuring that information about transactions flows freely.

🌍 By aligning their regulations with international norms, Turkey is sending a clear message: they're ready to be a player on the global stage of digital finance.
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🔒 Gala Games' $23M Token Breach Exposes Internal Control Woes

💥 Blockchain gaming giant Gala Games has been hit by yet another security breach, this time resulting in the unauthorized sale of 600 million GALA tokens worth a staggering $23 million. CEO Eric Schiermeyer admitted that the incident was a result of internal control failures.

The exploit took place on May 20th at 7:32 pm UTC, when a hacker managed to gain access to a Gala Games admin address. This allowed them to mint an astonishing 5 billion new GALA tokens, valued at around $200 million. They wasted no time, selling off 600 million on Uniswap.

🚨 Sadly, this isn't Gala Games' first rodeo with security woes. Earlier this year, they suffered a similar attack that cost them a whopping $130 million.

🔍 The breach was initially flagged by blockchain analyst devops199fan, who noticed the sudden influx of GALA tokens. Gala Games acted swiftly, freezing the compromised wallet and securing their Ethereum contract.

🔐 To prevent further damage, Gala Games made sure that the remaining 4.4 billion tokens were rendered unsellable and burned. They're also teaming up with law enforcement agencies like the FBI to bring the culprits to justice.

📉 The immediate aftermath saw GALA's price take a hit, dropping by 20% to a low of $0.038. However, it has since shown signs of recovery, climbing back up to $0.041 according to CoinGecko.

💪 Despite these setbacks, Gala Games is determined to learn from its mistakes and bolster its internal controls. With ongoing legal battles adding to the turmoil, the company remains committed to providing a secure platform for blockchain gaming enthusiasts.
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👀 Joe Lubin Teases Plan To Take ConsenSys Mainstream, What’s Next

👉 Read more
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🔒 Former Kansas Bank CEO Pleads Guilty to $47M Crypto Embezzlement Scheme

💰 In a shocking turn of events, the ex-CEO of Heartland Tri-State Bank in Kansas has confessed to embezzling a staggering $47.1 million through a web of personal crypto purchases.

➡️ The fallout from this audacious scheme resulted in the bank's collapse last July, leaving investors with zero equity, according to the U.S. Attorney's Office for the District of Kansas.

📣 Identified as Shan Hanes, the 52-year-old mastermind behind this financial fiasco allegedly used cryptocurrencies as a smokescreen to hide mounting losses.

➡️ "Hanes is not just a liar but also a master manipulator," stated Attorney Kate Brubacher, emphasizing the devastating impact on victims' life savings and retirement funds.

🔍 The FBI, FDIC, Federal Reserve Board, and FHFA are now jointly investigating this high-profile crypto case that has sent shockwaves through the industry.

🟢 With a potential sentence of up to 30 years looming over him, Hanes awaits his fate at the sentencing scheduled for August 8th.

🟢 The collapse of Heartland Tri-State Bank adds another layer to the ongoing debate about how traditional banks should navigate their relationship with the ever-evolving crypto ecosystem.

💼 Institutions like Silicon Valley Bank, Silvergate Bank, and Signature Bank have all had their share of exposure to cryptocurrencies, raising concerns about liquidity risks and prudent risk management.
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🚨 Crypto Influencers Beware: Scammers Strike Again! Is No Account Safe?

🔒 GCR's X Account Hacked: ORDI Token Price Surges, Then Sinks

In a shocking turn of events, popular crypto influencer GCR fell victim to a hacker who infiltrated his X account. The result? A price frenzy for the ORDI token, but it was short-lived.

➡️ Insider Job Suspected: Xcom Under Scrutiny

GCR suspects foul play, pointing fingers at a possible bribery scandal within Xcom. "No security is foolproof if employees can be bought," he laments.

💰 ORDI and Luna 2.0: Brief Highs, Then Back to Reality

The hacker's promotional posts caused a momentary spike in the price of ORDI, reaching $44 before dropping back to $40. Meanwhile, Luna 2.0 experienced a staggering surge of 274%.

👀 Crypto Watchdogs Sound the Alarm

As the dust settles, crypto observers like Udi Wertheimer warn that this hack might just be the tip of the iceberg. With meme coins on the rise and engineers on vacation, vigilance is key!
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🦅 Kinode Launches Early Access into it's Highly anticipated Alpha Launch.

💥 Kinode is building what is rumoured to be the 'Next Big Narrative' in Crypto, that of 'Fully Decentralised Operating Systems'. This allows people like you or me, to experience the web in a an entirely new way.

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🟢 Hidden Road Halts Client Access to Bybit Over KYC and AML Disagreements

🔒 Hidden Road, backed by Citadel Securities, has suspended client access to Bybit due to KYC and AML disagreements.

🔍 Bybit is now undergoing a compliance review to address these concerns, as regulators tighten scrutiny over crypto exchanges.

🤝 Hidden Road, the prime brokerage firm, made the decision to halt access to Bybit a few weeks ago, leaving clients in the dark about the exact reasons behind the move.

🔄 In response, Bybit is taking steps towards a comprehensive compliance review, following in the footsteps of Binance's recent settlement with US authorities.

💼 While this issue affects only some users, it highlights the importance of accessing crypto through trusted companies or brokers.

🚫 Bybit's CEO, Ben Zhou, has also had to address rumours of a potential hack or insolvency, assuring users of the platform's financial stability and robust security measures.

👌 Additionally, Bybit faces regulatory challenges in Europe, with France's AMF blacklisting the exchange for operating without proper authorization.
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🚨 Indian Police Officer Arrested: Bitcoin Scam Unveils Dark Collaboration

💰 An Indian police officer's badge has turned into handcuffs as he faces charges for siphoning over $200K in Bitcoin during a crypto scam investigation.

🔍 The Special Investigation Team of the Central Crime Branch cracked down on the inspector, Chandradhar, marking the fourth arrest in the ongoing 2020 Bitcoin scam case.

👮‍♂️ Chandradhar's alleged misdeeds include illegally accessing Bitcoin wallets, making off with INR 1.8 crore worth of the cryptocurrency, and even tampering with evidence.

📌 The charges against him are no joke, ranging from criminal breach of trust to destruction of evidence, highlighting the severity of his actions.

🔒 This isn't an isolated incident either. India has been grappling with a surge in Bitcoin scams, prompting regulators to tighten their grip on the crypto sector.

🔎 Just last month, the Central Bureau of Investigation conducted a nationwide search operation targeting fraudulent investment schemes that lured victims with promises of lucrative Bitcoin mining returns.

💼 It's a stark reminder of the infamous 2018 'Gain Bitcoin' Ponzi scheme, where Amit Bhardwaj left thousands out of pocket to the tune of INR 2,000 crore.
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CARV (CARV) will hold its node sale starting with the WL phase TODAY June 3rd

CARV has announced its upcoming Whitelist and Public node sales that will take place TODAY on June 3rd and June 5th respectively. Whitelisted users will be able to participate in the sale starting from June 3rd, at 10:00 AM UTC.

CARV has allocated 25% of the total token supply to node verifiers, with a release model reducing by 25% every 6 months. The project has previously raised $10M in its Series A funding from OKX Ventures, IOSG Ventures, Fenbushi Capital, Hashkey, and others. CARV Protocol is a modular data layer for gaming and AI.

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Medium: https://medium.com/carv-official/carv-nodes-up-to-100-buyback-program-chaperone-the-node-launch-fostering-a-decentralized-9fa0353e475f
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