Ethereum Based NFT Game, Axie Infinity, Raises $860,000 in Governance Token Sale

Top Ethereum-based crypto game Axie Infinity has raised $860,000 in its sale of AXS governance token.

The firm launched the AXS token officially this month on Uniswap and Binance. It was valued at $0.12 when it was first launched. But its current market price stands at $0.47, according to CoinGecko.

The fundraising was led by Delphi Digital and was necessary to make yield farming more simplistic. Other contributors to the funding include Sparg and Arca.

Axies’ are used like CryptoKitties, which are non-refundable tokens, symbolized by cryptographically distinguished cartoon characters that are almost difficult to find elsewhere. The NFT collectible creatures are rare, especially the Axie NFT, which was sold for 300 ETH ($1,300) this month.

Axie Infinity the only NFT project with over 10,000 users

Jeffrey Zirlin, the co-founder of Axie Infinity, commented on the achievement in an interview.

“We’ve overtaken CryptoKitties by quite a lot,” he said, adding that the company is the first Ethereum-based NFT project to cross the 10,000 level for monthly active users.

Based on information available on data site DappRader, Axie Infinity game currently maintains over 2,500 users per day, which makes it the most popular game on the Ethereum blockchain.

AXS token has been in development for two years

The AXS project may be coming when blockchain is taking center stage for the latest technology. But the Vietnam-based start, who also developed the Sky Mavis game, said the AXS token project began two years ago. According to Zirlin, the launch would have happened earlier, but the pandemic put a little hold on its development.

The scale of today’s governance token is coming amidst collaboration with Chainlink, announced a few days ago.

The announcement stated that Chainlink’s decentralized ETH/USD had been integrated into the game to make sure players always see the current price. The game also added Chainlink’s Verifiable Randomness Function (VRF) for more efficient in-game play involving breeding Axis.

Zirlin also said that the governance token’s primary goal is to bring everyone onboard by aligning their incentives. Core developers, content creators, and players can all have their aligned incentives, which the token will provide.

He also revealed that the tokens would have both fee-sharing features and governance functions, and the proceeds from such features will be sent to the Community Treasury.

Zirlin also confirmed the crypto gaming firm is about launching a new game mode, which will be available on the platform early next year. The game will feature an animal crossing-like setting, where the players can farm on virtual pieces of land to earn in-game tokens.

The play-to-earn approach is part of the game’s success.

Zirlin responded to questions about the game’s play-to-earn approach and said the process is one reason for its success.

According to him, players can spend time playing the Axie Infinity game to earn ERC-20 tokens, which is approximately $5 per hour.

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Author: Ali Raza

Hackers Put 10,000 Robinhood Accounts for Sale On the Dark Web

According to a new report, Hackers on the dark web are offering hacked Robinhood accounts for sale. The report surveyed dark web marketplaces to find that the hackers claimed to have 10,000 login keys linked to the Robinhood investment and trading app’s client trading accounts.

Although Robinhood’s customers have complained in the past that their emails have been hacked, the company assured them that a stolen email is not enough to infiltrate a brokerage account. The latest development may be the last thing the app developers want now, as it could lead to serious legal issues.

Robinhood has once again given assurance to its customers, claiming its security measures are tough and advising clients to use 2-factor authentication to protect their accounts.

The company said it recently increased its customer service team to care for more customer needs and queries. However, clients are still not showing complete confidence in the company’s security measures, with the news of a possible leak of their account details circulating on the dark web.

One customer of the platform expressed his disappointment regarding Robinhood’s lack of security measures, pointing out that it took the platform more than a month to rectify a security issue that locked him out of his account.

Other brokerage accounts were also compromised

The Robinhood accounts’ compromise was not the only alleged compromised brokerage, as contained in the report. Bloomberg discovered that about 1,000 TD Ameritrade Holding Corp accounts were also compromised, with the details offered at a dark web known as SliPP.

However, the number of Robinhood accounts for sale is far higher than the accounts of other brokerages. This indicates that the platform’s accounts are more valuable and more marketable than other brokerage accounts, an analyst pointed out.

More dark web markets springing up

Authorities have shut down many dark web markets to discourage hackers from causing more havoc online. But instead of having a decreased number, it seems the darknets have multiplied.

A recent report by CipherTrace shows that new darknet markets have launched because they are relatively easy to set up and operate. The area is of particular interest because it generates high profits for the owners. The platform encourages the exchange of various items and services such as illicit goods, drugs, login credentials, and malware.

Most parties involved in the exchange pay with Bitcoin and other crypto coins such as Monero to avoid any trace.

Presently, Hydra is seen as the biggest darknet market, which has reportedly generated over $1.2 billion since it was launched. The darknet is also the main trading center of hackers who sell stolen credentials to those who need them for further phishing attacks or other forms of future attacks.

The Robinhood app has registered millions of users this year alone, with many young and new users to stock tracking. This makes the platform an easy target for hackers looking to compromise account information and sell them on the darknet.

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Author: Ali Raza

Liquid Exchange Refunds GRAM Sales To Investors After Telegram Fails To Launch Blockchain

The sale of TON (Telegram Open Network) Gram tokens has just been invalidated by Liquid Exchange. The company sent out a blog post on 10th January 2020 announcing to the investors of this new development. It, however, sent out refunds to all the crypto enthusiasts who had taken part in this unsanctioned auction.

Reports indicate that the main reason why this sale had to be called off was that numerous interruptions were being experienced in the introduction of the TON mainnet. By the time this sale was taking part in the month of July 2019, many, including people working for the exchange were of the belief that the mainnet would have gone live by the end of October 2019.

The SEC Investigation

But this was never to be, as the unveiling was eventually harbored by an unforeseen and unexpected SEC investigation. The investigation by the authorities was focused on the very first offering of these tokens. It’s an investigation that was initiated by reports that seemed to indicate that the sale was, in fact, an unregistered auction of securities.

When launching this particular auction, the exchange had stated that it would issue refunds to all buyers in the event that TON didn’t end up going live by the end of November 2019.

Cointelegraph Reports

Prior to the sale, Cointelegraph had published numerous news reports noting that the token sale being undertaken by Liquid Exchange wasn’t related to Telegram in any way. According to the terms of sale released by Telegram:

“Participants in the original initial coin offering (ICO) are not allowed to resell or swap the tokens in any way until 18 months after the launch of the network.”

But according to the ICO page that had been posted by the Liquid Exchange, it was expected that the tokens would get delivered in several tranches as soon as the TON mainnet was operational.

Many crypto pundits believed that Liquid was acting as the transactional agent for Gram Asia. Unconfirmed reports had stated that Gram Asia was at the time the biggest entity holding the Gram tokens in all of Asia.

But this was denied by a news report published by Cointelegraph which quoted sources at Telegram who had gone on record to state that they had never heard about this company.

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Author: Daniel W