#crypto

Official web portals from various jurisdictions, including India, Nigeria, Egypt, Colombia, Brazil, and Vietnam, are funneling users to a bogus MetaMask website. Visitors receive a phishing warning from Microsoft Defender the moment they access the site. Ignoring this alert and connecting one's MetaMask could result in catastrophic loss of funds.The fraudulent website is depicted beside the authentic one in a screenshot.

On August 30, Judge Katherine Polk Failla delivered a significant ruling on a case brought forth by Uniswap users who alleged they lost funds due to scam tokens on the platform. She stated that ETH and Bitcoin qualify as crypto commodities, a pivotal factor in her decision to close the Uniswap case.J udge was not persuaded by arguments suggesting Uniswap token sales were subject to the Exchange Act. Failla is also the judge overseeing the SEC’s case against Coinbase.

Researchers from the University of Cincinnati have crafted a crypto literacy scale (CLS) to gauge and standardize understanding of cryptocurrencies and related tech among consumers and policymakers. Their study, "Measuring Crypto Literacy," emphasizes the difference between traditional financial literacy and crypto literacy. The team believes that while financial literacy helps prevent scams, there's a distinct need for a crypto-specific scale.

X, previously known as Twitter, has successfully obtained the Rhode Island Currency Transmitter License, enabling it to offer cryptocurrency payments and trading services in the U.S. This acquisition, confirmed on August 28 via NMLS data, aligns with X's ambition to be a "cryptocurrency-friendly" platform. Earlier, X had integrated features like Bitcoin tipping and NFT profile picture support. With this license, users might soon be able to send, receive, and store crypto directly on X, further mainstreaming cryptocurrency use.

At the Intersekt 2023 fintech conference, top executives from Australian crypto firms addressed the growing concern of fraud in the sector. Their consensus? Educating users about scammers' tactics can drastically cut down on fraud incidents. Instead of simply responding to issues, the focus should be on proactive prevention. The discussion also pointed out that the responsibility for curbing crypto scams doesn't just fall on the crypto industry — it's shared by banks, social media platforms, and telecom companies as well.