Cryptocurrency & Mining News - Page 15

The Pixelmon NFT project recently revealed art work of the NFTs it has been working on, and now the community is an in uproar with some individuals claiming the creators are scammers.

The Pixelmon NFT project was a highly anticipated project within the emerging space as the creators claimed they are building a game where players can train, trade, fight and evolve their Pixelmon NFT. The Pixelmon Twitter account has amassed more than 211,000 followers and many of the community members were very excited to see the reveal of the first generation of Pixelmon NFTs called "Pixelmon - Generation 1". Each of the Generation 1 NFTs was at a mint price of 3 Ethereum.

The above video showcases gameplay the Pixelmon creators posted to their Twitter account on February 8, which is now being compared to the recent artwork reveal that has sparked this backlash. A large Twitter thread showcased screenshots of conversations between the creators about using purchased Unity Engine assets and transactions with the developers' team wallet that revealed an individual going on a large NFT spending spree after receiving millions of dollars in funding.

BIOSTAR announces its new iMiner A588X8D2 pre-built mining system, packed with 8 x AMD Radeon RX 580 graphics cards with 8GB of VRAM each.

Inside, the BIOSTAR iMiner A588X8D2 pre-built mining system features an Intel G4900 processor, 8GB of DDR4 RAM, and the 8 x AMD Radeon RX 580 8GB graphics cards. You can use Windows, Linux, or HiveOS and pull a total ETH hash rate of 232MH/s.

BIOSTAR explains: "Designed and pre-assembled by BIOSTAR, the new iMiner A588X8D2 system brings plug and play mining capability to the next level. Packed with blockchain-grade high-end hardware, the iMiner A588X8D2 comes with 8 AMD RX580 graphic cards that dish out an ETH hash rate of 232 MH/s (±5%). Powered by Intel's G4900 processor and an 8Gb DDR4 RAM, the system can run Windows, Linux, or HiveOS".

The NFT space is plagued with projects that end up scamming investors, and recently a famous porn star was added to the list of projects that have ripped off investors.

A YouTube investigator that goes by the name Coffeezilla exposed the porn star turned influencer Lana Rhoades that created the NFT project called "CryptoSis," which features collections of cartoon images of Rhoades. The actress told her audience that purchasing these NFTs would be an investment, and that she will be working hard to "increase the value of CryptoSis's, and make it a lucrative investment for holders that they can sell for more than they paid to mint".

It should be noted that if Rhoades said that her NFT project was purely artwork and not going to make any buyers profit on their purchase, then it wouldn't be a scam. But since Rhoades has failed to provide on the promises she has made to her community/the public roadmap for the project, as well as withdrawn $1.5 million in Ethereum from the project's wallet, it only seems reasonable to assume that Rhoades has taken investors' funds and disappear.

Non-Fungible Token (NFT) scams are plaguing the industry, with it seeming like someone is falling victim to a scam at least every week.

It was only recently that a notorious Twitch streamer scammed his community out of $500,000, and now reports indicate that a senior student at Shanghai's Tongji University has also fallen victim to a similar amount of money. Niq Chen, the senior student at the university, spoke to the South China Morning Post and said that he purchased the NFTs from a project called "LuckyCot 3D", and they consisted of around half of his total NFT collection.

Chen reports receiving a link, which turned out to be a phishing scam. Once Chen clicked on the link, his collection of NFTs worth around $548,000 disappeared, with the scammer then immediately selling an NFT to a private individual whose identity wasn't disclosed. After realizing what had happened, Chen attempted to purchase the stolen NFT back, but the buyer of the stolen asset said that what he received was "a good deal".

Sotheby's auctions are some of the most famous auctions in the world, selling off precious items such as this rock that may be from outer space to NFT collectibles.

Recently there was going to be an auction for a collection of 104 CryptoPunk NFTs that were, at the time, estimated to be worth around $30 million. The auction for the collectibles was meant to be hosted by Sotheby's, but leading up to the auction going live, the seller pulled out, leaving Sotheby's and the NFT community confused. The seller, which goes by the pseudonym '0x650d' took to Twitter to make light of the situation by writing "nvm, decided to hodl".

Following the initial tweet after the rug pull, the seller followed up with a meme that suggests he doesn't agree with Sotheby's trying to take NFTs mainstream by selling them and approves of "taking punks mainstream by rugging Sotheby's". It should be noted that this event isn't technically a rug pull since investors didn't lose any money. To more accurately describe it would be a stunt by the seller in an effort to highlight Sotheby's "high fees charged by auction houses like Sotheby's", according to Haralobos Voulgaris, a quantitative researcher for the Dallas Mavericks who described '0x650d' as a "clown".

Reports indicate that the English Premier League (EPL) football club Manchester City is going to construct the very first stadium in the metaverse.

A report from inews reveals that Manchester City has signed a three-year partnership with Sony, which will provide virtual reality experts that will assist the club in recreating Etihad Stadium in virtual reality. While the project is still in its very early stages, the virtual experts have already visited the stadium to digitally map it so the recreation process can begin in virtual reality.

Manchester City believes that recreating the beloved stadium in virtual reality will bring in additional revenue streams as fans from all around the world will be able to enjoy a live game and the atmosphere of the stadium from the comfort of their own home. Additionally, the club is considering that fans could meet professional players within the metaverse, as well as purchase products that are otherwise not available in real-life.

A community of cryptocurrency enthusiasts is attempting to raise billions to purchase a professional football team.

Reports indicate that the National Football League (NFL) team, the Denver Broncos, is currently in the sale process with a group called "BuyTheBroncos", which consists of fans that wish to purchase the professional team and change it into a decentralized autonomous organization (DAO). According to the website, if the purchase is successful, the team would change into a "cooperative", and Broncos memberships would make "you an owner of the Broncos and, thus, able to participate in the governance."

A report from CNBC revealed that Sean O'Brien, a former Cisco employee, is leading the effort to buy the Broncos. However, O'Brien has reportedly attempted to purchase two sports franchises in the past and failed both times. ESPN has valued the Broncos at nearly $4 billion, and as the Colorado Governor Jared Polis tells CNBC, "the challenge will be it'll take a lot of money... but you know what, if your imagination is big enough, then it can happen. And anything I can do to make it happen, I'd be happy to."

A new report has revealed that Indian authorities have arrested eleven individuals for a cryptocurrency scam that allegedly stole $5.36 million from investors.

According to the Times of India, authorities in Nagpur have seized gold, a collection of "high-end vehicles" that are estimated to be worth around $134,000, a laptop, multiple cell phones, a gun with ammo, and $25,000 in cash. The report states that police raided the building and arrested four individuals that were later identified as Nishid Wasnik and his wife, Pragati, Gajanan Mungune, and Sandesh Lanjewar.

The following day the remaining seven alleged accomplices were arrested, and all were charged under the IPC, Maharashtra Protection of Interest of Depositors Act, and Information Technology Act. Three of the arrested individuals have been on the run for over a year for a scam that dates back to 2017.

Law enforcement has been contacted by the Ontario Securities Commission (OSC) regarding tweets from the CEOs of two cryptocurrency exchanges.

The OSC recently contacted the Royal Canadian Mounted Police (RCMP) about tweets that were published by Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell. The tweets from both the CEOs reportedly have criticized the Canadian government's decision to implement the Emergencies Act in response to the recent Ottawa convoy protest.

An Ontario Superior Court judge ruled that millions of dollars worth of cryptocurrency owned by Ottawa protesters to be frozen, which included banks that were holding crypto assets for some protesters. The ruling prevents protesters from "selling, removing, dissipating, alienating, or transferring" any crypto assets.

An artist recently exploded a Lamborghini Huracan to create a Non-Fungible Token (NFT) collection that will soon be available to purchase.

The artist goes by the pseudonym Shl0ms and proposed in September 2021 that he should blow up a Lamborghini and out of the exploded parts, create an NFT collection. Shl0ms received financial backing for the idea and also put some of his own money from past art projects into its creation. The artist then purchased a used Lamborghini Huracan for just under $250,000 and hired a federally licensed explosives engineer to assist in the destruction of the vehicle.

So, why explode a Lamborghini for an NFT collection? Shl0ms said, "the Lambo is a pretty potent representation of people simply engaging with crypto because it's a way for them to make money off other people as quickly as possible." Adding that NFT technology has massive potential and that there are many good things that can be done with it, "but there are so many terrible things being done with it."