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Today’s latest GameFi news and crypto games updates

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GMT Team Executes Limited Token Unlock Amid Strategic Speculations

According to Odaily, recent on-chain data monitoring reveals that on November 8, the GMT team released only 18 million GMT tokens from the ecosystem during their scheduled monthly unlock. Notably, tokens held by the team, investors, and advisors were not distributed. Reports suggest that the GMT team has repurchased all unvested investor tokens. If confirmed, this buyback could involve up to 600 million GMT tokens, potentially indicating significant upcoming strategic initiatives.The limited release of tokens and the potential repurchase of a substantial amount of GMT tokens have sparked discussions about the GMT team's future plans. Such actions often precede major strategic moves, which could impact the token's market dynamics and investor sentiment. The decision to withhold the distribution of tokens held by key stakeholders, coupled with the rumored buyback, suggests a calculated approach to managing the token's supply and market presence.Market observers are keenly watching for further announcements from the GMT team, as these developments could signal shifts in the project's direction or new partnerships. The strategic management of token distribution and potential buybacks are critical factors that could influence the project's growth and stability in the competitive cryptocurrency landscape. As the situation unfolds, stakeholders and investors are advised to stay informed about any official statements or updates from the GMT team regarding their strategic objectives and market strategies.
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SEC Issues Wells Notice to Immutable Amid Crypto Crackdown

According to CryptoSlate, the SEC has issued a Wells notice to blockchain gaming platform Immutable, marking another instance of the regulator's enforcement actions against crypto companies ahead of the US election. Immutable revealed in an October 31 blog post that the SEC's move is part of its “regulation-by-enforcement” strategy targeting the crypto industry. The company noted that the notice was issued without prior discussions with the SEC.Immutable stated that the SEC's allegations, though vague, seem to focus on the 2021 listing and private sales of its native token IMX. The company contends that the IMX token does not meet the criteria of a security and criticized the SEC for bypassing meaningful dialogue. Immutable expressed frustration over the lack of detail in the Wells notice, which contained fewer than 20 words of substantive explanation and lacked a clear basis for the investigation.Additionally, Immutable suggested that the SEC's allegations implied inaccurate claims of “fraudulent misrepresentations” related to a 2021 blog post about the IMX token’s pre-launch investment pricing. The company argued that the regulator mischaracterized this information, stating that there was “real consideration” involved in the investment, which could have been clarified through constructive dialogue with the SEC.Immutable emphasized its readiness to defend the rights of builders, creators, and gamers, leveraging its considerable resources. The company reiterated its commitment to the industry and its intention to continue building despite regulatory challenges.
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North Korean Hackers Exploit Chrome Vulnerability Through Fake Blockchain Game

According to Cointelegraph, the North Korean Lazarus Group of hackers exploited a zero-day vulnerability in Google’s Chrome browser using a fake blockchain-based game to install spyware and steal wallet credentials. Kaspersky Labs analysts identified the exploit in May and reported it to Google, which has since addressed the issue.The hackers developed a play-to-earn multiplayer online battle arena game named DeTankZone or DeTankWar, which utilized non-fungible tokens (NFTs) as tanks in global competitions. The game was fully playable and promoted on LinkedIn and X. Users were infected from the website even if they did not download the game. The hackers modeled the game on the existing DeFiTankLand.The malware used in the attack was called Manuscrypt, followed by a previously unknown “type confusion bug in the V8 JavaScript engine.” This was the seventh zero-day vulnerability found in Chrome in 2024 through mid-May. Kaspersky principal security expert Boris Larin noted the significant effort invested in the campaign, suggesting ambitious plans with potentially broader impacts on users and businesses worldwide.Microsoft Security first noticed the fake game in February. Although the hackers removed the exploit from the website before Kaspersky could analyze it, the lab still informed Google, which fixed the vulnerability in Chrome before it could be exploited again.Zero-day vulnerabilities catch vendors off guard, with no immediate patch available. It took Google 12 days to patch the vulnerability in question. Earlier this year, another zero-day vulnerability in Chrome was exploited by a different North Korean hacker group targeting crypto holders.Lazarus Group has a history of targeting cryptocurrency. Between 2020 and 2023, the group laundered over $200 million in crypto from 25 hacks, according to crypto crime watcher ZachXBT. The United States Treasury Department also alleged that Lazarus Group was behind the attack on Ronin Bridge, which resulted in the theft of over $600 million in crypto in 2022. Additionally, US cybersecurity firm Recorded Future reported that North Korean hackers collectively stole over $3 billion in crypto between 2017 and 2023.
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