Crypto Market Overview September 8th | Dex-Trade

Crypto Market Overview September 8th | Dex-Trade

Tim Cook Talks About Apple's Crypto Plans: Another Fake Hackers

We have become accustomed to the fact that groups of cybercriminals use all (even imaginary) methods to gain access to the private crypto wallets of naive enthusiasts. But sometimes it comes down to outright cringe. Recently, a group of anonymous people launched an allegedly live broadcast of an interview on YouTube with Apple CEO Tim Cook, who talked about the company's plans to enter the crypto industry and create its own metaverse, as indicated by all kinds of video metadata, titles, descriptions and hashtags. The only thing — video being broadcast is an interview with Cook that he gave to CNN in 2018. The video was released under the title: “Apple Event Live. CEO of Apple Tim Cook: Apple & Metaverse in 2022.” These keywords were clearly chosen to draw people's attention to a fraudulent scheme. At the same time, some dubious keywords with links to dubious cryptocurrency sites were also added to the description under the video. By the way, the scammers did not ignore the video itself, in which the CNN logo was covered with the text “Apple Crypto Event 2022,” and the label “URGENT NEWS” and the Bitcoin and Ethereum logos were added at the bottom of the video window. The idea was that on this day, Cook was supposed to talk about some important Apple news, but before the announcement, no one specified what kind of news would be announced. Thus, while Cook was giving an interview to the Vox Media Code conference, where he talked about the launch of the iPhone 14, the hackers in parallel gathered 70,000 viewers under the fake video and, apparently, made some money.


Korean Trader Sues Upbit Over LUNA (LUNC) Crash

A Korean trader last week sued crypto exchange Upbit for delaying the processing of his 1,310 LUNA (now LUNC) withdrawals, made before the infamous crypto crash, resulting in him losing 156 million won ( $112,477 at the time). On March 24, a trader opened an order to transfer LUNA coins (LUNC) from his Upbit crypto wallet to his Binance wallet in order to subsequently exchange them for Vietnamese dongs. On the opening day of the operation, the price of LUNA (LUNC) was about $92.79. The next day, Binance notified the trader that his coins had been returned due to a problem with the transfer process. But the coins didn't make it into his Upbit wallet either. Upon inquiry, Upbit representatives wrote to the trader that his coins were accidentally placed in the cryptocurrency exchange’s own wallet and their return is being delayed due to account verification procedures in accordance with the law. The trader's lawyer claims that his client submitted requests to Upbit 27 times to find out when his funds would be returned to his personal wallet. And every time the support of the exchange informed him that the return of the coins was being processed. According to Upbit representatives, the company's lawyers are now closely studying the details of the lawsuit. But it’s worth remembering that Upbit's terms of service in white contrast indicate that the company is not responsible for any losses incurred by investors as a result of the exchange's compliance with the rules.


Gensler vs. Crypto Community: Will Digital Money Remain “Securities”?

The chairman of the Securities and Exchange Commission (SEC), Gary Gensler, does not seem to be going to change his mind about crypto and continues to consider digital currencies as securities, which goes against the requirements of the community and, in a sense, world practice. The main disadvantage of this attitude is that if virtual assets are considered the equivalent of securities, then cryptocurrency exchanges are automatically equated to stock trading platforms, which obliges them to register with the SEC. Representatives of the crypto community continue to call this approach “enforced regulation.” Recall that since taking office, Gensler has systematically taken on many players in the crypto community, including such giants as Coinbase. He gradually equated more and more digital assets with securities, as a result of which this “stigma” became the official “logo” of the industry. By the way, crypto-credit products were added to the list of securities under Gensler. The official continues to bypass all requests to discuss his decisions, while simultaneously calling on the crypto community to dialogue. That is, Gensler either has some kind of original regulation plan, or there are several disturbing symptoms of a split personality.