💵 Mark Cuban loses $870K in crypto scam
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💵 Mark Cuban loses $870K in crypto scam
After downloading a fake MetaMask application
Hey Waivly Crew! 🌊 Magic Eden has launched support for Solana's compressed NFTs. Mark Cuban fell victim to a phishing attack over the weekend after reportedly downloading a fake MetaMask application.
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Magic Eden integrates Solana's compressed NFTs
NFT marketplace Magic Eden has launched support for Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles.
CNFTs differ from the usual Solana NFTs because their data is compressed and stored off-chain. As a result, production in large quantities is more feasible as they require lower fees to mint.
According to Magic Eden, cNFTs are ideal for creating mass-produced collections in various industries like gaming, music, events, and the metaverse. The marketplace believes that it allows creators to reach wider audiences without spending more.
The marketplace also believes that by lowering the costs involved in NFT production, it can potentially promote adoption and become an “easy access point” for new people to get into NFTs.
Magic Eden plans to roll out cNFTs in two phases. Initially, cNFTs will be available for trading on Magic Eden’s secondary market. In the near future, the marketplace will introduce cNFTs as a primary listing via its Launchpad, providing an affordable avenue for creators to reach a broader audience.
Mark Cuban loses $870K in hot wallet hack
One of Mark Cuban’s crypto wallets was drained of $870,000 in tokens and NFTs following a phishing attack on Friday night, according to blockchain data and confirmed by outlet DL News.
The hacker made off with $555,000 in Lido Finance’s staked ether (stETH) and $175,000 in USD Coin (USDC) on Ethereum from the wallet, along with SuperRare and Ethereum Name Service tokens.
The hack was first spotted by independent blockchain sleuth Wazz. Cuban later told DL News that he was the victim of a phishing attack, claiming to have downloaded a malicious version of MetaMask.
“Someone got me for 5 ETH,” he told the outlet, "I went on Metamask for the first time in months. They must have been watching."
Fortunately, it appears Cuban was able to salvage $2.5 million USDC on Polygon by transferring it to Coinbase before the hacker could seize it, according to an X post by Arkham Intelligence.
Cuban’s other wallets were unaffected by the hack. 'Since I was only working with the account that got hacked, none of my others gave up anything,' he told DL News.
The Waves
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👀 Hong Kong influencer arrested over JPEX links amid probe
📜 9 US senators publicly back Elizabeth Warren’s crypto bill
🖼️ Karl Lagerfeld’s legacy goes phygital
Discover more Waves in the Waivly Discord. Click here to get onboard! 🌊
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X launches account verification based on government ID
X has launched government ID verification for paid X Premium subscribers, after clues emerged in August that the feature was in development, TechCrunch reported Friday.
In a new help center page, X said the verification is for "safety and security purposes" and to "prevent impersonation." It may also be used to protect users from spam, malicious accounts, and content that isn’t age-appropriate.
Users will receive benefits like prioritized support and a visible label that shows their identity has been verified. Down the road, X plans to expedite Premium reviews for users who verify with ID.
The social network partnered with Au10tix, an Israeli-based company specializing in identity verification. X requires users to check a consent form allowing "X and Au10tix [to use] images of my ID and my selfie, including extracted biometric data, to confirm my identity and for X's related safety and security purposes, including preventing impersonation." Au10tix may store this data for up to 30 days.
ID-based verification is currently available in “numerous countries,” but X did not elaborate on specific locations. It does not include the European Union, the European Economic Area, or the UK, however, likely because these regions have strict data protection laws.
Waivly Jobs Highlights
👩💻 Social Media Manager at Coinmarketcap
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