MoonPay, a platform that enables users to buy and sell digital currencies, has announced a new feature that allows them to swap between different cryptocurrencies within its app. The feature, which is powered by MoonPay’s partner 0x, aims to provide a seamless and secure way for users to exchange their crypto assets without leaving the app.
Users can choose from over 100 supported cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and more. MoonPay claims that its swap feature offers competitive rates, low fees, and fast execution. The company says that this feature is part of its vision to make crypto more accessible and user-friendly for everyone.
Solana, one of the fastest and most scalable blockchain platforms, has announced a new update that enables private transactions on its network. This means that users can send and receive tokens without revealing their identities or balances to anyone. The update leverages a technology called zk-SNARKs, which are cryptographic proofs that verify the validity of a transaction without disclosing any information about it. Solana claims that this feature will enhance the security and privacy of its users, as well as attract more developers and projects to its ecosystem.
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Backed is a platform that enables the creation and management of tokenized securities on Base, a blockchain network designed for real-world asset projects. Tokenized securities are digital representations of ownership rights and economic benefits of real-world assets, such as stocks, bonds, real estate, art, etc. By using Backed, issuers can access a global pool of investors, reduce costs and complexity, and enhance transparency and compliance. Investors can benefit from fractional ownership, increased liquidity, and lower barriers to entry.
The U.S. Commodity Futures Trading Commission (CFTC) is considering taking legal action against the former chief executive officer of Voyager Digital, a cryptocurrency brokerage firm, according to a Bloomberg report. The report, citing unnamed sources familiar with the matter, said that the CFTC is investigating whether Steve Ehrlich, who stepped down as Voyager’s CEO in August, violated federal laws that prohibit fraud and manipulation in the digital asset markets.
The CFTC probe is reportedly focused on Ehrlich’s role in a series of transactions that allegedly inflated Voyager’s trading volumes and revenues in 2019 and 2020. The transactions involved Ehrlich and other Voyager executives buying and selling cryptocurrencies from each other through the company’s platform, creating the appearance of high demand and liquidity for the firm’s services.
The report said that the CFTC has not yet decided whether to file a lawsuit against Ehrlich or seek a settlement. Ehrlich’s lawyer, Marc Mukasey, denied any wrongdoing by his client and said that he is cooperating with the CFTC.
“Steve Ehrlich is a visionary leader in the crypto space who has always acted with integrity and in the best interests of Voyager and its customers,” Mukasey said in a statement. “He welcomes the opportunity to clear his name and put this matter behind him. Voyager takes its regulatory obligations seriously and strives to comply with all applicable laws and regulations in the jurisdictions where it operates,” the company said.
Voyager Digital, which is based in Canada and listed on the Toronto Stock Exchange, said in a statement that it is not aware of any formal charges or complaints against Ehrlich or the company by the CFTC or any other regulatory agency. The company said that it has implemented “robust compliance policies and procedures” and that it is committed to providing “transparent and fair” services to its customers.
Galxe hit by DNS attack on front-end website
Galxe, a popular Web3 platform that offers decentralized cloud services, has been hit by a DNS attack that compromised its front-end website. The attack occurred on October 6, 2023, at around 10:00 UTC, and resulted in the redirection of Galxe’s domain name to a malicious site that displayed a ransom message.
According to Galxe’s official statement, the attack did not affect the core functionality of the platform, which relies on a distributed network of nodes that provide storage, computation, and bandwidth services. The platform’s smart contracts, tokens, and user data were also unaffected by the attack. However, the front-end website, which serves as an interface for users to access the platform’s features, was temporarily inaccessible until the DNS issue was resolved.
Galxe said that it has contacted its domain registrar and the relevant authorities to investigate the incident and restore its website as soon as possible. The platform also advised its users to avoid visiting its website until further notice, and to use alternative methods to interact with the platform, such as its mobile app or browser extension. Galxe also warned its users not to trust any emails or messages claiming to be from the platform, as they may be part of a phishing campaign.
The DNS attack on Galxe is the latest in a series of cyberattacks targeting Web3 platforms and projects. Web3, which refers to the emerging paradigm of decentralized web applications that run on blockchain and peer-to-peer networks, has attracted a lot of attention and investment in recent years. However, it has also faced various challenges and risks, such as scalability, interoperability, regulation, and security.
While Web3 platforms aim to provide more autonomy, privacy, and resilience than traditional web applications, they are not immune to cyberattacks. In fact, some aspects of Web3 may make them more vulnerable to certain types of attacks, such as DNS hijacking, which exploits the centralized nature of domain name systems. DNS hijacking occurs when an attacker gains control of a domain name and redirects it to a different IP address or website. This can allow the attacker to impersonate the legitimate website and perform malicious activities, such as stealing user credentials, spreading malware, or demanding ransom.
To prevent DNS hijacking, Web3 platforms and projects need to adopt various security measures, such as using secure domain registrars, implementing DNSSEC (Domain Name System Security Extensions), or using decentralized alternatives to DNS, such as ENS (Ethereum Name Service) or HNS (Handshake Name Service). These solutions can help ensure the integrity and authenticity of domain names and prevent unauthorized changes or redirections.
Galxe is one of the leading Web3 platforms that aims to revolutionize the cloud computing industry by offering decentralized alternatives to centralized cloud providers. Galxe claims to have over 10 million users and 1000 partners across various sectors and regions. The platform leverages blockchain technology and smart contracts to create a marketplace where users can rent or provide cloud resources in a peer-to-peer manner. Galxe also supports various Web3 applications and protocols that run on its network, such as decentralized storage, identity, communication, gaming, and social media.
The DNS attack on Galxe’s front-end website is a setback for the platform and its users, but it does not compromise the core vision and value proposition of Web3. Galxe has assured its users that it is working hard to restore its website and prevent similar attacks in the future. The platform has also thanked its community for their support and understanding during this difficult time.
This news is republished from another source.
