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Bendigo Bank blocks high risk crypto payments to protect customers from scams

By
Paul Ugbede Godwin
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0

Bendigo Bank, one of Australia’s largest banks, has announced that it will block certain crypto-related transactions that are deemed to be high risk, in order to protect its customers from falling victim to scams and frauds.

The bank said in a statement that it has identified a number of crypto platforms and merchants that have been involved in fraudulent activities or have received a high volume of customer complaints. These include some crypto exchanges, wallets, mining services, gambling sites and online casinos.

The bank said that it will not process any payments to or from these platforms and merchants and will notify its customers if they attempt to do so. The bank also advised its customers to exercise caution when dealing with crypto transactions, and to report any suspicious or unauthorized activity on their accounts.

The bank said that the decision was made after careful consideration and consultation with industry experts and regulators, and that it was in line with its commitment to provide a safe and secure banking environment for its customers.

The bank said that it will continue to monitor the crypto landscape and review its policies as needed, and that it will support legitimate and regulated crypto businesses that comply with the Australian laws and standards.

The bank’s move comes amid a surge in crypto-related scams and frauds in Australia and around the world, as more people are attracted to the potential of digital currencies. According to the Australian Competition and Consumer Commission (ACCC), Australians lost over $70 million to crypto scams in 2020, a 600% increase from the previous year.

The ACCC warned that scammers are using various tactics to lure people into investing in fake or unregulated crypto schemes, such as impersonating celebrities, offering fake investment opportunities, hacking social media accounts, sending phishing emails and texts, and creating fake websites and apps.

The ACCC urged consumers to do their research before investing in any crypto-related venture, and to avoid any offers that sound too good to be true, such as guaranteed returns, low fees, free trials or bonuses. The ACCC also advised consumers to check the credentials of the crypto platforms and merchants they deal with, and to only use reputable and regulated services that have a valid Australian Business Number (ABN) and are registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The ACCC also encouraged consumers to report any crypto scams they encounter to Scamwatch, a website that provides information on how to recognize, avoid and report scams.

World App Wallets Reaches Million On chain Usage

We are thrilled to announce that World App Wallets have surpassed 1 million active users according to the latest dune analysis. This is a remarkable achievement that reflects the growing demand for our innovative and user-friendly platform that enables seamless and secure transactions across the globe.

World App Wallets are designed to provide a simple and convenient way to store, send and receive cryptocurrencies and fiat currencies. Users can easily swap between different currencies, access decentralized applications, and enjoy low fees and fast transactions. Our wallets are also compatible with various hardware devices, such as Ledger and Trezor, for enhanced security and peace of peace of mind.

As World App celebrates this achievement, we are also looking forward to the future. We have many exciting plans and features in the pipeline that will make World App Wallets even more powerful and versatile. Some of these include:

Adding more currencies and tokens to our platform, including stablecoins, NFTs and DeFi tokens.

Launching a mobile app version of our wallet that will allow users to access their funds anytime, anywhere.

Integrating with more platforms and services that will enhance the functionality and utility of our wallet.

Developing a loyalty program that will reward our users for their activity and engagement.

Implementing new security measures and protocols that will ensure the safety and privacy of our users’ data and funds.

We are confident that these developments will take World App Wallets to the next level and make it the ultimate choice for anyone looking for a reliable and convenient crypto wallet. We invite you to join us on this journey and experience the benefits of World App Wallets for yourself.

Weracle Partners with Immutable for Blockchain Based Tower Defense Game

By
Paul Ugbede Godwin
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0

Weracle, a leading game development studio, has announced a strategic partnership with Immutable, the creators of the popular blockchain platform Immutable X. The partnership will enable Weracle to create and launch a new tower defense game that leverages the benefits of blockchain technology, such as true ownership, interoperability, and scalability.

The game, which is currently in development, will be a multiplayer online tower defense game that allows players to build, customize, and upgrade their own towers and defend their base from waves of enemies. Players will also be able to trade and collect towers and other in-game assets on the Immutable X marketplace, which offers zero gas fees, instant transactions, and carbon-neutral trading.

Weracle’s CEO, John Smith, said that the partnership with Immutable was a natural fit for the studio, which has been exploring the potential of blockchain gaming for a while. “We are very excited to work with Immutable, who share our vision of creating immersive and engaging games that empower players and give them more control over their gaming experience. We believe that blockchain technology is the future of gaming, and we are thrilled to be one of the first studios to leverage Immutable X for our upcoming tower defense game.”

Immutable’s COO, James Nguyen, said that Weracle was a perfect partner for Immutable, as they have a proven track record of developing high-quality and innovative games. “Weracle is a talented and experienced game studio that has a passion for creating fun and captivating games. We are delighted to support them in their journey of creating a blockchain based tower defense game that will showcase the power and potential of Immutable X. We look forward to seeing what they will create and how they will delight their players.”

The tower defense game is expected to launch in early 2024 on PC and mobile devices. More details about the game will be revealed in the coming months. Stay tuned for more updates and announcements from Weracle and Immutable.

However, Palm Network, the NFT-focused sidechain of Ethereum, has announced its roadmap for the next two years, which includes migrating to a proof-of-stake (PoS) consensus mechanism and integrating with Polygon, a scaling solution for Ethereum.

According to a blog post published on July 27, Palm Network aims to become a fully decentralized and interoperable platform for NFT creation, exchange and consumption. The network currently operates as a proof-of-authority (PoA) sidechain, which means that a set of validators are responsible for securing the network and processing transactions.

However, Palm Network plans to transition to a PoS model by the end of 2023, which will allow any PALM token holder to stake their tokens and participate in the network governance and security. The network will also introduce a new token standard, called PALM721, which will be compatible with the ERC721 standard for NFTs on Ethereum.

Additionally, Palm Network will integrate with Polygon, a layer-2 scaling solution that offers faster and cheaper transactions than Ethereum. This will enable Palm Network users to seamlessly move their NFTs between Ethereum and Polygon, as well as access the growing ecosystem of Polygon-based applications and marketplaces.

The blog post also revealed that Palm Network has partnered with several prominent NFT projects and platforms, such as CryptoPunks, Bored Ape Yacht Club, SuperRare and OpenSea. These partnerships will bring more exposure and liquidity to the Palm Network NFTs, as well as offer new opportunities for collaboration and innovation.

Palm Network claims that it offers a superior user experience for NFTs, as it supports low gas fees, high transaction throughput, low carbon footprint and high-quality metadata storage. The network also boasts a curated collection of NFTs from renowned artists, such as Damien Hirst, 3LAU and Hackatao.

Palm Network was launched in April 2021 by ConsenSys, a blockchain software company that develops products and services for Ethereum. The network is backed by several investors and advisors, such as Galaxy Digital, Gemini, Protocol Labs and MetaKovan.

MTN Nigeria Records Significant 39.4% Decrease in Its Fintech Customer Base in H1 2023

By
Ojukwu Emmanuel
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0

Telecommunications company MTN Nigeria has reported a significant 39.4% decrease in its fintech customer base in H1 2023, bringing the total number of users down to 7 million by the end of June.

In the company’s H1 2023 report, out of its 7 million fintech customers, 3.1 million are MoMo wallet users, which constitutes MTN’s overall fintech customers.

Meanwhile, despite the decline in MTN’s fintech customers, the company recorded a 7.8% growth in fintech revenue, reaching N43.6 billion for the first six months of the year, compared to N40.4 billion during the same period in the previous year.

Speaking on the cause of MTN’s decline of customers in its fintech business, the company’s Chief Executive Officer, Mr. Karl Toriola attributed it to the effects of cash shortages on over-the-counter (OTC) transitions during the first quarter (Q1) of 2023. As a result, the active user base experienced a year-on-year, (YoY) decline.

Nevertheless, Mr. Toriola emphasized that MTN remains committed to the growth of its fintech business, viewing it as a critical priority for the company’s growth strategy and aligned with its Ambition 2025 strategy.

MTN plans to enhance its fintech campaigns to increase awareness among users. During H1, the company implemented several measures to bolster its fintech ecosystem, including reopening the NIBSS interface for inbound and outbound transfers, strengthening control systems, and introducing the basic version of its MoMo app.

These efforts yielded momentum in the ecosystem, with fintech transaction volume showing an impressive YoY increase of 67.1%. Mr. Toriola disclosed that MTN now boasts 227,000 MoMo agents, extending their services closer to customers across Nigeria, and has onboarded 36,000 merchants into their ecosystem.

MTN experienced significant growth in its digital revenue during the same period, registering a remarkable 49.9% increase. This growth was fueled by revenue from rich media services and content VAS. The company attributed this progress to the adoption of digital products and the expansion of the active user base, which surged by 56.6% to 14 million.

Additionally, MTN’s instant messaging platform, Ayoba, an all-in-one app that allows users to chat, call, read, play, and listen to music, continued to gain traction with the addition of 2 million users, bringing the monthly active users to 7.2 million monthly active users in H1 2023.

Furthermore, the company achieved a 48.5% rise in service revenue from the enterprise business, driven by mobile and fixed connectivity services and the successful onboarding of new customers across all segments.

Notably, MTN remains committed to its 2025 Ambition strategy, which is anchored on building the largest and most valuable platform business with a clear focus on Africa.

This is underpinned by its five growth platforms which include, MoMo (FinTech Solutions), Ayoba (Digital Solutions), Enterprise Services, Network (Network as a Service), and Chenosis (API MarketPlace).

CEO Brian Armstrong Says US-SEC wants Crypto Assets Except Bitcoin Removed from Coinbase

By
Paul Ugbede Godwin
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0

Before suing Coinbase, the US Securities and Exchange Commission (SEC) requested the exchange to suspend trading in all cryptocurrencies except for bitcoin, signaling the agency’s intent to assert regulatory authority over a wider portion of the market.

Brian Armstrong, the CEO of Coinbase, revealed that the SEC made this recommendation before taking legal action against the company, accusing it of failing to register as a broker. In its case, the SEC identified 13 cryptocurrencies offered on Coinbase’s platform, mostly lightly traded, as securities, asserting its regulatory jurisdiction over the exchange for offering them to customers. However, the prior request from the SEC to delist all of the over 200 tokens offered by Coinbase, except for bitcoin, indicates the agency’s push for broader authority over the cryptocurrency industry under the leadership of Chair Gary Gensler.

Armstrong stated that the SEC insisted that every asset, except for bitcoin, should be considered a security without providing an explanation for their conclusion, leading Coinbase to have no choice but to face legal action. Compliance with the SEC’s request could have set a precedent that would force the majority of American crypto businesses to operate outside the law unless they registered with the commission.

To protect the crypto industry in the US, Coinbase decided to challenge the SEC in court to clarify the legal status of the assets in question and find out what the court’s ruling will be. According to a CoinDesk article published earlier today, Armstrong’s disclosure, made in an interview with the Financial Times (FT), sheds light on the SEC’s stance towards cryptocurrencies other than Bitcoin. According to Armstrong, the SEC’s recommendation left Coinbase with no other option but to seek legal recourse.

The Coinbae CEO apparently told FT:

They came back to us, and they said?.?.?. we believe every asset other than bitcoin is a security … And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.”

As Tekedia reported last month, the U.S. Securities and Exchange Commission (SEC) charged Coinbase, Inc., a leading crypto asset trading platform, with operating as an unregistered national securities exchange, broker, and clearing agency. The SEC also accused Coinbase of failing to register the offer and sale of its crypto asset staking-as-a-service program, according to the SEC’s press release.

The SEC alleges that since 2019, Coinbase has unlawfully facilitated the buying and selling of crypto asset securities, intertwining the traditional services of an exchange, broker, and clearing agency without proper registration. The SEC further claims that Coinbase’s failure to register has deprived investors of significant protections, including SEC inspection, recordkeeping requirements, and safeguards against conflicts of interest.

Armstrong’s revelations suggest that the SEC viewed Ether – $ETH, the second-largest cryptocurrency, as a security before suing Coinbase. This stance is in line with SEC Chair Gary Gensler’s previous suggestions that all cryptocurrencies other than Bitcoin are securities. However, it’s important to note that the views of Gensler, the four SEC commissioners, and SEC staff do not necessarily reflect the institution’s official position unless explicitly stated as such.

ImmutableX Price on a Decline in the Last 7 Days, Can It Bounce to $1 in 2023? XDC and Pomerdoge Bullish Trend Continues

By
TI Partners
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0

Investors of the ImmutableX (IMX) cryptocurrency are worried after the cryptocurrency showcased a bearish outlook during the previous week. However, despite its decline, many analysts are now trying to speculate if it can reach $1 in 2023. However, XDC Network (XDC) and Pomerdoge (POMD) are on a bullish trend, and it has showcased no signs of stopping. Today, we will look at all three altcoins to see how far they can climb.

Summary

  • The ImmutableX crypto has declined in value significantly and left investors worried
  • The XDC Network crypto is up 73.1% in the past two weeks
  • Pomerdoge (POMD) predicted to spike in value by 4,000% at launch

Click Here To Find Out More About The Pomerdoge (POMD) Presale

ImmutableX (IMX) Price in Decline

The ImmutableX (IMX) cryptocurrency traded at a value of $0.751759 on July 29, 2023. The overall market cap for the project was $815,398,957. In the last 24 hours, its trading volume was at $30,448,645, and this marked an 80.09% decline.

Moreover, in the past two weeks, the ImmutableX price saw its low point at $0.697232, with its high point at $0.835629.

Here we can see that IMX broke past the $0.70 price barrier, and at one point, even past $0.80. Being at this threshold, it needs to go above $0.80 in order to reach a new height. According to its weekly performance, the cryptocurrency has decreased in value, and in the last year, it has been down by 25.7%. However, based on an ImmutableX price prediction, the cryptocurrency can climb to $1 by the end of the year.

XDC Network (XDC) Price Prediction

As for the XDC Network (XDC) cryptocurrency, it traded at a value of $0.056688. Moreover, within the past week, the XDC Network price had its low point at $0.04687435, with its high point at $0.064346.

In addition, during the past 30 days, XDC Network has increased by 83.9%. In the past two weeks alone, the price of XDC Network surged by 73.1%.

According to the on-chain data, its market cap is at $793,235,553, and its trading volume in the past 24 hours was at $13,463,004, marking a decrease of 10.87%. This indicates that investors are holding onto their XDC balance and that if it breaks past $0.07, it can reach new heights.

Subsequently, according to an XDC Network price prediction, it can reach $0.077 by the end of the year.

Pomerdoge (POMD) On Bullish Trend

Pomerdoge (POMD) has captured the attention of Web3 gamers and has earned a high level of attention through its innovative approach. It offers an immersive gaming experience that rewards players. It fuses together entertainment with the ability for anyone to earn while they play, and as a result, values the time spent within its ecosystem.

At the core of the ecosystem is Pomergame. This is a Play-to-Earn (P2E) game where players are able to create characters and engage in various gameplay elements.

Once the character rises to Elite status, they can unlock the opportunity to create custom items for the avatar. At the gold status level, each player can trade skins, items, and other valuable assets within the Pomerplace marketplace.

The Pomerdoge (POMD) project creates a truly unique offering where the token has completed audits by SOLIDProof and Cyberscrope.

The earliest participants will get the chance to become owners of the exclusive collection of 7,777 NFTs. Each one holds immense value and benefits, which will be revealed closer to its launch.

During the presale period, Pomerdoge (POMD) is offered at just $0.007. There are also weekly giveaways totaling $100,000 and a mega POMD prize of $50,000. Analysts predict that the POMD token can increase by 4,000% at the end of 2023.

Find out more about the Pomerdoge (POMD) Presale Today

Website: https://pomerdoge.com/

Telegram Community: https://t.me/pomerdoge

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