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Cryptocurrency hardware wallet provider Trezor is investigating a recent phishing campaign, as users have reported receiving phishing emails. Meanwhile, nonfungible token (NFT) firm Yuga Labs has been awarded approximately $1.6 million in damages over a long-running lawsuit against NFT artists Ryder Ripps and Jeremy Cahen and Sam Bankman-Fried testified at his criminal trial in New York on Oc.t 26.
Crypto wallet Trezor looks into phishing campaign, exec says
Cryptocurrency hardware wallet provider Trezor is investigating a recent phishing campaign, as users have reported receiving phishing emails.
The anonymous blockchain sleuth ZachXBT took to his Telegram channel on Oct. 26 to alert users to a phishing attack targeting Trezor customers.
ZachXBT referred to an X (formerly Twitter) post from the account JHDN, which alleged that Trezor may have been breached after receiving phishing emails on the email account used specifically for buying the wallet.
In a similar manner to some Trezor-related phishing attacks in the past, the phishing email invites users to download the “latest firmware update” to users’ Trezor devices in order to “fix an issue in software.” According to the poster, the malicious email was sent from the email amministrazione@sideagroup.com.
According to Trezor’s brand ambassador, Josef Tetek, the firm is aware of the ongoing phishing campaign and is actively looking into it.“We continuously report fake websites, contact domain registrars, and educate and warn our customers of known risks,” Tetek said, referring to multiple articles aiming to help users deal with phishing attacks.
Tetek emphasized that Trezor never asks for users’ recovery seed, PIN or passphrase.
Ryder Ripps ordered to pay Yuga Labs $1.6M in copyright lawsuit
A United States district court judge has ordered nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club creator Yuga Labs a total of $1.57 million in disgorgement and damages, along with legal fees, bringing an end to the long-running “copycat” NFT lawsuit.
The Oct. 25 order follows an April 21 partial summary judgment granted in favor of Yuga Labs after the firm claimed that Ripps and Cahen, the defendants, violated copyright laws by making copycat versions of its Bored Ape Yacht Club (BAYC) collectibles.
Yuga Labs wins lawsuit against RR/BAYC and is granted $1,375,362 of @ryder_ripps and @Pauly0x‘s profits and $200k in damages, conclusion of law documents released yesterday show
Doesn’t include attorneys’ fees, for which will parties will confer at future date. Thoughts? pic.twitter.com/DZgky4LiiX— okHOTSHOT (@NFTherder) October 26, 2023
District court Judge John Walter awarded Yuga Labs $1.37 million after concluding the NFT firm was entitled to a disgorgement of the defendants’ profits. An additional $200,000 was awarded in statutory damages relating to cybersquatting violations.
Yuga Labs has also been entitled to recover attorney fees and costs from the NFT artists after the judge determined the trademark infringement constituted an “exceptional case.”
SBF reportedly believed his dealings with Alameda were legal
Former FTX CEO Sam Bankman-Fried didn’t think there was anything wrong with taking FTX deposits through Alameda Research, according to reports from his ongoing trial in New York.
Bankman-Fried took the stand on Oct. 26, where he was questioned about his use of the Signal messaging app and other matters related to his failed crypto empire.
“Did you believe taking FTX deposits through Alameda was legal?” defense attorney Mark Cohen asked. “I did,” Bankman-Fried said. “I was CEO of both at that time.”
Bankman-Fried is the last witness to take the stand in his criminal proceedings. Judge Kaplan said the jury will decide Bankman-Fried’s fate “in the first few days of next week.”
The former FTX CEO has pleaded not guilty to all seven charges in his criminal case. However, he’s expected to face five more counts in a second trial slated for March 2024.
Gary Gensler teases details of SEC’s $5B take from enforcement actions, shades crypto
United States Securities and Exchange Commission (SEC) Chair Gary Gensler’s speech at the 2023 Securities Enforcement Forum shed light on the regulatory body’s enforcement actions amounting to $5 billion in judgments and orders.
However, Gensler’s dig at the cryptocurrency market became a talking point for the crypto community on social media when he said: “Don’t get me started on crypto. I won’t even name all the individuals we’ve charged in this highly noncompliant field.”
While talking about the economic perspective of the SEC’s enforcement action, Gensler noted that the agency filed more than 780 enforcement actions in 2023, including over 500 standalone cases. The enforcement actions led to judgments and orders totaling $5 billion, of which $930 million was distributed to harmed investors.
Gensler added that the SEC had filed lawsuits against 40 firms for violations of various rules and regulations since December 2021, leading to more than $1.5 billion in penalties. Gensler revealed that the SEC settled recordkeeping-related charges with 23 firms in the last fiscal year alone.
In his speech, the SEC chief reiterated his earlier stance on crypto, claiming that most of the crypto market falls under the securities bracket and must be governed under the same law. In his explanation of the broad definition of security, Gensler explained the concept of an investment contract and why a major chunk of the cryptocurrency market resembles it.
According to Gensler, most cryptocurrency assets will pass the investment contract test, bringing them under securities regulations.
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