Two individuals, Varun Yadav in London and a man in Bengaluru, fell victim to a cryptocurrency scam orchestrated by individuals they met on matrimonial websites. The fraudsters lured them into investing in a platform called deuncoin.com. The scam involved manipulating investors to deposit increasing amounts of money, falsely showing gains, and then preventing withdrawals by citing suspicious activity. The scammers further urged victims to invest more for various reasons.

Modus operandi of the crypto scam on Deuncoin:

I.) You are asked to create an account at the likes of Deuncoin. You invest money to buy crypto tokens. The account shows that you own a certain range of tokens or even small withdrawals are permitted.

II.) Upon seeing the increase in the portfolio, the gullible investor may get incentivized to invest more. At this stage, the investor is even allowed to withdraw gains.

III.) But soon, losses start to mount due to the manual manipulation carried out on the platform.“No remember how efficiently you invest, your account might show losses because of the manual manipulation they do at the platform.

IV.) However, when you need to withdraw a part of your portfolio, customer care would give lame excuses such as your account witnessed suspicious activity.

V.) customer care would prompt you to invest a big sum directly from your bank account to complete the verification for restoring withdrawals.

VI.) In fact, there is no suspicious activity & urging the investor to invest more money is a ploy to extract an extra pound of flesh.

VII.) Their representative might create a faux sense of urgency to invest more money before withdrawals are allowed.
VIII.) Even after investing extra cash, the company representative would continue to urge the investor to invest more money in the name of capital gain tax or something else.

IX.) Under no circumstances, they allow depositors to withdraw any cash. The more you invest, the bigger the scam you emerge as vulnerable to.
#Write2Earn #ScamAwareness #Alerts #TrendingTopic #BTC

Cryptocurrency has revolutionized the financial landscape, introducing new concepts and technology that move past traditional banking systems. One such innovative feature is "staking," a method that allows cryptocurrency holders to actively take part in network operations and earn passive profits in return.
What is Staking?
Staking is a mechanism hired through many blockchain networks to secure and validate transactions at the network. Unlike traditional Proof-of-Work (PoW) consensus algorithms, which depend on miners fixing complex mathematical puzzles to validate transactions, Proof-of-Stake (PoS) and different staking-based structures use a different approach.

In a staking system, validators (participants who lock up a certain amount of cryptocurrency as collateral) are chosen to create new blocks and validate transactions based on the amount of cryptocurrency they have staked. Essentially, the more cash a participant holds and locks up in the network, the better the chances they have of being chosen to validate transactions.
To participate in staking, individuals must first acquire the specific cryptocurrency used by the blockchain using a staking mechanism. Popular staking cash include Tezos (XTZ), Cardano (ADA), and Polkadot (DOT).
Setting Up a Wallet:
Staked cryptocurrencies are typically saved in a specific staking wallet. Users need to set up a pockets compatible with the chosen cryptocurrency and switch their holdings to this wallet.
Locking up Cryptocurrency:
Participants lock up a sure amount in their cryptocurrency as collateral to become eligible for staking rewards. This process is thought as "staking" or "bonding." The locked-up cash act as a guarantee that the validator will act honestly, as they have something to lose.#Write2Earn #TrendingTopic #staking #BTC #eth

The Indian authorities has firmly rejected cryptocurrency change Binance`s plea to repair offerings inside the country. This company choice emphasizes India's dedication to imposing anti-cash laundering guidelines. However, after paying taxes and penalties, Binance desired to go back to offering offerings following the payoffs. Still, this time, it did now no longer have plans for court cases installation beneath the PMLA and FIU requirements of the country. The government in India highlighted the need for complete implementation as being not anything but an obligatory co-circumstance prerequisite for similar discussion. Officials refused concessions regardless of Binance pleading for time to set up PMLA and FIU compliance processes. To skirt the ban, the authorities collaborated with banks to formulate techniques towards investors illegally gaining access to Binance the use of digital non-public networks. Earlier, India banned Binance along 8 different cryptocurrency exchanges failing to sign up with the FIU. Subsequently, the authorities eliminated forex apps from software shops and blocked get entry to to their websites. The exchanges encompass Binance, Bittrex, Kucoin, Huobi, MEXC Global, Kraken, Bitstamp, Gate.io, and Bitfinex. This improvement indicates India's purpose to put in force guidelines and make sure complaint cryptocurrency trading. It stays to be visible if Binance can doubtlessly fulfil necessities to repair offerings. Meanwhile, the authorities keep tracking banned systems to dispose of illegal usage.#Write2Earn #TrendingTopic #BTC #ETH

Binance has entered the initial phases of deliberation regarding the fate of its controlling interest in the South Korean cryptocurrency exchange, Gopax. This revelation follows suggestions from South Korean media that Binance is contemplating the divestiture of its stake in Gopax. Binance obtained its controlling stake in Gopax back in February 2023 during a period when the exchange was encountering difficulties, including the suspension of withdrawals on its DeFi platform, GoFi. Binance's investment in Gopax represented its reentry into the South Korean market subsequent to its departure in January 2021. Notably, Binance has a track record of acquiring interests in local exchanges as part of its strategy to reestablish presence in markets it previously exited, often due to regulatory constraints.

These discussions come amid heightened regulatory oversight of cryptocurrency firms across Asia. Binance, known for its adaptability to regulatory environments, is navigating the evolving landscape by deliberating on the fate of its stake in Gopax. This strategic consideration is emblematic of Binance's approach to managing its investments in accordance with regulatory dynamics. However, it's important to note that Binance's spokesperson has refrained from disclosing further details at this nascent stage of discussion.

In summary, Binance's deliberations regarding its majority stake in Gopax underscore the complexities of operating within the cryptocurrency sector amidst regulatory changes. As the regulatory environment continues to evolve, Binance's strategic decisions regarding its investments reflect its commitment to navigating regulatory challenges while maintaining its position in key markets like South Korea.
#TrendingTopic #Write2Earn #BinanceSqaure #binance #takeover

Binance has introduced the "Binance Inscriptions Marketplace" to compete with rival OKX, which recently launched similar features. The new platform, integrated within Binance's self-custody crypto wallet, allows users to trade, buy, sell, and mint inscription tokens, including BRC-20 and EVM tokens. Binance aims to reduce transaction costs and leverage the growing market, citing recent milestones like the BRC-20 token ORDI reaching a $1 billion market cap. The platform adopts the API of UniSat, offering access to UniSat's liquidity and more than 60,000 BRC-20 tokens. This move comes shortly after OKX enabled Doginals, Atomicals, Stamps, and Runes inscription standards.
#marketplace #Write2Earn #TrendingTopic #ORDI #wallet🔥 $BTC $ETH $SOL