Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
A Chinese cryptocurrency user claims to have lost over $1 million in a hacking scam. The hackers used a Google Chrome plugin to steal cookies and bypass security measures on his Binance account. The trader credited with sparking the GameStop meme stock saga in 2021 has reappeared saying that he’s holding $181.4 million worth of GME stock and call options. EOS, once a top-10 crypto project by market capitalization, has adopted a new tokenomics standard as it promises a “new era” for developers and community members.
Hackers exploit Chrome plugin to steal millions from Binance accounts
A Chinese trader lost $1 million to a hacking scam using a promotional Google Chrome plugin called Aggr. The promotional plugin steals cookies from users, which hackers use to bypass password and two-factor authentication (2FA) verification and log into the victim’s Binance account.
A trader took to X to recount the ordeal of losing their life savings to an unexpected scam. The trader, who goes by the X username CryptoNakamao, said that on May 24, their Binance account started trading randomly, and they only realized this after opening the Binance app to check the Bitcoin BTC $69,629 price.
By the time he sought assistance from Binance, the hacker had already withdrawn all funds.
The trader claimed that the hackers had gained access to his web browser cookie data, which they had stolen via a Chrome plugin called Aggr. The trader installed the plugin to access prominent trader data only to realize malicious software was created to steal users’ web browsing data and cookies.
The hacker then used the collected cookies to hijack active user sessions without a password or authentication and carried out multiple leveraged trades to spike the price of low liquidity pairs and profit from them.
GameStop rallies overnight as Roaring Kitty reveals $180M GME position
Meme stock GameStop (GME) surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted to Reddit that he’s holding $181.4 million worth of GME stock and call options.
Gill, the trader widely cited as a major influence on the 2021 GME short squeeze, posted to Reddit on his “DeepFuckingValue” account on June 2 for the first time since April 2021.
He shared a screenshot showing he apparently purchased 5 million GME shares for $115.7 million and put $65.7 million into call options, betting that GME would be at least $20 a share on June 21.
Robinhood’s overnight markets saw GME jump by 19.19% in 20 minutes to $27.58 after Gill’s Reddit post.
Gill has been seen by some as the center of the GameStop saga during the COVID-19 pandemic, which saw Reddit traders flip the table on hedge funds making money by shorting the failing brick-and-mortar game store.
Some also believe the GameStop short squeeze laid the groundwork for a massive surge in the price of memecoins such as Dogecoin DOGE $0.16 and Shiba Inu SHIB $0.000025 after retail turned its attention elsewhere.
EOS adopts new tokenomics
The EOS ecosystem has approved a new tokenomics model as part of a broader push to revive the once-promising network.
According to a May 31 announcement, the EOS Network Foundation will reduce the maximum supply of the EOS cryptocurrency to 2.1 billion from 10 billion previously. The foundation also adopted a four-year halving cycle and said it would offer “high-yield staking rewards” for token lockups.
Community members on social media were understandably critical of the new plan, especially those who’ve held the cryptocurrency since its initial coin offering (ICO) back in 2018. Under Block.one, EOS held a year-long ICO, raising a massive $4.1 billion. What followed was a failure to meet project expectations, lengthy court battles and a settlement with regulators.
According to CoinMarketCap data, EOS’s market cap is currently around $935 million, a far cry from the $15 billion peak in 2018. Following the May 31 announcement, its token price was little changed at $0.80.
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