Wednesday 28 September 2022
Home / Virtual Reality

Virtual Reality

KuCoin CEO Johnny Lyu launches ‘Anti-FUD Fund’

The CEO of crypto exchange KuCoin says it is launching an “Anti-FUD Fund” to track down and potentially take legal action against “FUDers” and educate crypto users on identifying misinformation. Johnny Lyu, CEO of the exchange, announced the fund in a Tuesday Twitter thread, coming only days after publishing a blog post criticizing Twitter user Otteroooo for spreading misinformation about his firm. Lyu said the Anti-FUD fund will cover three elements, the first being education, which will “deliver knowledge, including what is FUD and how to distinguish it” through online and offline means. The fund will also motivate and acclaim industry leaders and influencers who are responsible, deliver trusted information to their audiences and help their followers avoid FUD. Finally, the fund will seek to effectively trace and potentially take legal action against individuals who “intentionally spread FUD.” “The spread of FUD and panic harms projects, users, and the industry. Those actions mus..

Read More »

‘Cryptojacking’ rises 30% to record highs despite crypto slump: Report

New research shows that despite falling digital asset prices, cryptojacking has reached record levels in the first half of 2022. According to a mid-year update on cyber threats by American cybersecurity company SonicWall, global cryptojacking volumes rose by $66.7 million, or 30%, in the first half of 2022 compared with the same period last year. Cryptojacking is a cybercrime whereby malicious actors commandeer a victim’s computer resources by infecting the machine with malware designed to mine cryptocurrencies. It is often executed through vulnerabilities in web browsers and extensions. Source: SonicWallThe report stated that the overall rise in cryptojacking can be attributed to a couple of factors. Firstly, cybercriminals are leveraging the Log4j vulnerability to deploy attacks in the cloud. In December 2021, a critical vulnerability affecting java-based logging utility was discovered in the Open Source Library managed by software company Apache. Hackers can exploit it to gain remo..

Read More »