FBI warns about the increasingly exploiting vulnerabilities in DeFi
“Between January and March 2022, cyber criminals stole $1.3 billion in cryptocurrencies, almost 97 percent of which was stolen from DeFi platforms”, FBI claims, citing a Chainalysis report from April 2022.
FBI recommends investors to take elaborate precautions as cyber criminals are increasingly exploiting vulnerabilities in the smart contracts governing DeFi platforms to steal cryptocurrency, causing investors to lose money.
Argentine province allows millions to pay taxes using stablecoins
Inhabitants of Mendoza can now pay for government services in USDT or DAI.
The Mendoza Tax Administration (ATM) is allowing its roughly two million residents to make online payment for their taxes in crypto. Taxpayers can use their Binance, Ripio, Buenbit, or Bybit crypto wallets, to name a few. The ATM’s site will generate a QR code for users to scan with their crypto wallets after filling out preliminary information.
U.S. Congressional Committee probes Coinbase, FTX, Binance on fraud prevention
Representative Raja Krishnamoorthi – Chairperson of the Subcommittee on Economic and Consumer Policy of the House Committee on Oversight and Reform – sent letters to the largest crypto exchanges in the U.S. on Tuesday, requesting “information and documents” showing how each company is working to “combat cryptocurrency-related fraud.”
Crypto industry giants including Coinbase, FTX, Binance U.S., Kraken, and KuCoin each received a four-page letter requesting “all documents” related to crypto fraud since 2009 as well as answers to relevant questions by September 12th.