Category Archives: Finance

Not even Google Ads are safe from cryptocurrency scams 

Estimated amount stolen through the Google Ads crypto scam.

By Matt Wille (via InputMag)

When it comes to the still-burgeoning world of cryptocurrency, scams lie around every corner. Even the parts of the internet that seem safest have found themselves home to crypto scammers. But, uh, this one still manages to be shocking: Someone found a way to use Google Ads to carry out their crypto-based cons.

Scammers managed to steal more than $500,000 in cryptocurrency by placing ads for fake digital wallets, according to Check Point Research. The scammers placed ads for their fake wallets under the names of real wallets, like MetaMaskand Phantom, thereby tricking unsuspecting users into downloading the spoofs.

A Google Ad for the fake Phantom wallet.Check Point Research

The misleading ads probably would’ve been enough to trap a handful of crypto newbies, but these scammers really went all-out. The ads linked out to websites that looked eerily similar to the real deal, making it difficult to understand they’d been scammed until it was already too late.

CLASSIC PHISHING, REALLY — This scam is essentially one we’ve been dealing with since the creation of the internet: phishing. Usually, this process would take place via email or a similar messaging service, but the process here is the same. Trick unsuspecting people into giving you their personal information by pretending to be a legitimate entity.

The fake Phantom wallet website.
Check Point Research

In this case, scammers created phishing websites that appear almost identical to the real deal, right down to the branding. These sites then asked victims for the passphrase to their crypto wallet — a red flag, if you’re familiar with how these wallets work, but it might just seem like a genuine question for setting up a wallet to a newcomer.

Check Point Research observed first-hand 11 crypto wallets compromised by the scheme, each containing between $1,000 and $10,000 in cryptocurrency. The full extent of the stolen money — more than $500,000 — was only discovered by cross-referencing these observations with Reddit threads where victims spoke up.

STAY VIGILANT — Check Point Research concludes its public release about this scam with a few tips for spotting similar ones in the future. First and foremost is to never type your passphrase into a website. A passphrase is a key to recovering your crypto wallet — handing it out is even more dangerous than giving someone an account password.

As with all phishing scams, the best line of defense is to double-check the URL you’ve been sent to. In the case of crypto wallets, in particular, Check Point notes that wallets like MetaMask and Phantom are extensions, not websites. If you’re being asked to input sensitive information like your passphrase into a website rather than an extension, there’s a good chance it’s a scam.

As much as we’d like to blame Google for this mess, cryptocurrency phishing scams are a new breed. They’re not easy to spot from afar. We can only hope Google’s crypto scam detection improves as organizations like Check Point release information about them.

When it comes to cryptocurrency, though, even the most legitimate of companies can end up helping scammers achieve their goals. Enter at your own risk.

Jasmy Coin’s Recent Gains Might Not Be Sustainable for Long 

BY ANURADHA GARG (via MarketRealist)

On Oct. 9, the JASMY token was added to Coinbase, which boosted awareness of the token and the trading volume. It rose by nearly 57 percent on Oct. 8 and demonstrated the “Coinbase Effect.” The token rose another 56 percent on Oct. 12. The recent steep rise has taken many investors by surprise and they want to know about Jasmy coin’s price prediction.

Generally, cryptocurrencies have been on an uptrend for the past several months. The total cryptocurrency market cap, which fell below $150 billion in March 2020, is now above $2.2 trillion. As the adoption of cryptocurrencies rises, many altcoins have been gaining importance for their real-world uses.

What is Jasmy crypto?

Jasmy provides an IoT (internet of things) platform, which aims to decentralize the process of coordinating networks of data and devices. It does so with the help of storing and computing data on a decentralized storage network, IPFS.

Jasmy claims that it values the concept of data democracy, which means that it aims to return all the personal data files to the hands of the individuals it belongs to. In the new era of information, Jasmy wants to create an environment where data can be exchanged securely as valuables. JASMY is an Ethereum token that powers Jasmy. The coin can also be used to transfer tokens between devices and as payment for network services.

Jasmy price prediction

  • Wallet Investor isn’t positive on Jasmy’s long-term growth trajectory and sees the coin dropping in value by around 87 percent in one year.
  • Priceprediction.net also has a negative view of Jasmy crypto and sees it declining in value by 75 percent on average by the end of 2021.
  • Digital Coin Price sees an upside of more than 50 percent for the coin from the current levels by the end of 2021.

Is Jasmy a good investment?

Like many other IoT crypto networks, Jasmy aims to end the monopoly of giant platformers like Google, Apple, Facebook, and Amazon. While these platforms let users use the service for free, they collect personal data like behavior history. The data is managed, analyzed, and used for various purposes by their centralized systems. In some cases, the data has been leaked due to cyber attacks, system defects, and human mistakes. At times, the data is misused to deliver specific ads or content.

The future for the IoT space as a whole looks bright. According to Mordor Intelligence, the global IoT market is expected to reach $1,386 billion by 2026 from $761.4 billion in 2020. However, this doesn’t mean that the future of all IoT-related projects is good. Some rivals have advantages over Jasmy. IOTA has an early mover advantage in this space with a lot of established partnerships. Until Jasmy proves its worth in a concrete manner, it’s better to give it a pass.

Where to buy Jasmy

Jasmy has been added to Coinbase and investors can purchase it with ease from the platform. Other top exchanges that trade in Jasmy are ZT, Gate.io, Bittrex, Uniswap, and MEXC.

Decentraland Price Prediction: MANA Could Soar To $10 In November 

By Crispus Nyaga (via InvestingCube)

The Decentraland price bullish momentum is continuing as investors cheer the growing metaverse industry. MANA, its native token, is trading at $3.1960, which is about 427% above the lowest level in October. It is a few points below its all-time high of $5, bringing its total market capitalization to more than $5.9 billion. It is the 36th biggest cryptocurrency in the world.

Why did MANA price soar?

Decentraland is a blockchain platform that was built using Ethereum’s technology. It is one of the biggest platforms involved in the so-called metaverse industry. Precisely, the token allows members to develop a virtual universe where they can buy and sell digital assets like real estate. Ownership of this land is changed through non-fungible tokens (NFTs).

The strong rebound of the Decentraland price is mostly because of last week’s announcement by Facebook. In a statement, Mark Zuckeberg announced that the company will be known as Meta. Meta will be the holding company for platforms like Facebook, Instagram, and Whatsapp. The company will also be a leading player in the so-called metaverse industry.

Therefore, the MANA price soared since investors believe that Facebook’s rebrand will introduce more people into its network. 

Decentraland price prediction

On the daily chart, we see that the MANA price rocketed higher during the weekend. This makes it one of the best performing cryptocurrencies this week. However, the bullish trend seems to have found some resistance. It is, indeed, forming a bullish pennant pattern that is usually a bullish sign. The price is also significantly above the 25-day and 50-day moving averages.

Therefore, this breakout is still unfolding. I believe that the bullish trend will continue in October. If this happens, the next key levels to watch will be $5 and then $10. This view will be invalidated if the price falls below the key support at $1.50.

Decentraland Price

Facebook’s Meta rebrand causes obscure crypto MANA to jump 400% 

BY CHRIS MORRIS (via Fortune)

Facebook’s well-publicized (and often mocked) rebranding elevated MANA, a cryptocurrency that most people have never heard of, into the spotlight, resulting in a three-day price spike of 462% over the weekend.

The crypto has since lost some ground and is currently trading at $3.13, according to Coinbase. That’s still a 306% increase over Oct. 27, the day before Facebook announced its rebranding.

MANA is the token for Decentraland, which describes itself as a metaverse platform that allows users to buy and sell virtual properties. The token runs on the Ethereum blockchain.

Decentraland itself provides a gamelike atmosphere in which people create virtual lands and others explore them and participate in social games. Visually, it’s not unlike Roblox or Second Life.

Using MANA, visitors can buy “property” or upgrade it to whatever environment they want. They can also buy and sell items to use in the virtual world, as well as list their properties for sale. (Prices range from 30,000 MANA to over 1 million.)

Facebook’s big bet on the metaverse has ignited interest in many companies that focus on that space. Decentraland operates a bit differently than Facebook is expected to in the virtual world, though, focusing on user-generated content that lets people make money for themselves, rather than walled gardens that could enrich corporations.

MANA’s not the only crypto to see a surge after Facebook changed its name. SAND, the token for Sandbox, another virtual world, jumped from 74¢ on Oct. 27 to more than $2 on Monday, a 176% increase. (At its peak this weekend, SAND was trading at $2.35, a 218% increase.)