Scorechain's Blog

What is the state of crypto regulation in Lithuania?

What is the current crypto regulation in Lithuania? On June 8th, the Ministry of Finance in Lithuania approved amendments to the country’s AML/CFT Law. The amendments aim to increase the transparency of the crypto-asset sector. The amended provisions include, for example: More stringent KYC processes; A ban on anonymous crypto

Inverse Finance exploit: $1.2 million lost in a flash loan attack

Inverse Finance has once fallen victim to an exploit. On Thursday, the DeFi protocol lost $1.2 million after suffering a flash loan attack. Inverse Finance suffers two exploits within just two months Inverse Finance is a decentralized DeFi protocol with a total value locked of $11.08 million. On June 16th,

UK’s consultation regarding proposed safeguards against stablecoin failure risks

Following the collapse of Terra stablecoin UST, the UK government released a consultation paper proposing safeguards to prevent stablecoin failure risks. Stakeholders have until August 2nd to share their feedback on the matter. What is a stablecoin? A stablecoin is a specific type of crypto asset that is pegged to

France: The AMF updates its VASP doctrine

French version below – Last week, the regulator overviewing crypto-assets in France, the AMF, announced updating its doctrine on virtual asset service providers (VASPs). The regulator updated the doctrine to include evolving products and business models from the industry’s players. The AMF doctrine clarifies registration for staking and lending services

Binance regulated in Italy: what is the state of crypto regulation?

Binance Italy receive approval from the local regulator Last Friday, Binance, the cryptocurrency exchange, announced that it was regulated in Italy. Its Italy branch secured a virtual asset service provider (VASP) registration the Organismo per gli agenti e mediatori (OAM). Registration with the OAM is a requirement set forth by

Phishing scam: Beeple’s Twitter account hacked

Beeple’s Twitter account hacked as part of a phishing scam Beeple is a popular digital and non-fungible token (NFT) artist. The artist is known for having sold an NFT for $6 million at Christie’s auction house and creating 30 NFTs for Louis Vuitton’s NFT game, Louis the game. On Sunday,

5 things to know about BSC

What is BSC? BSC, or BNB Smart Chain, is a blockchain network launched by the cryptocurrency exchange Binance in 2020. It was previously known as Binance Smart Chain. BNB Smart Chain supports BNB (standing for Build and Build), the native token of the BNB Beacon Chain. It was first created

OFAC: first sanctions against cryptocurrency mixer

Last week, on May 6, the Office of Foreign Asset Control (OFAC) sanctioned a cryptocurrency mixer for the first time. Blender.io: first crypto mixer designated by OFAC In a press release from last Friday, OFAC announced sanctions against Blender.io, a cryptocurrency mixer. Blender.io is a mixer operating on the Bitcoin

NYDFS’ guidance on the use of blockchain analytics

Last Thursday, the New York State Department of Financial Services (NYDFS) published guidance on the use of blockchain analytics for all crypto-asset companies “that are either licensed under 23 NYCRR  Part 200 or chartered as a limited purpose trust company under the New York Banking Law”. NYDFS’ blockchain analytics guidance

Lazarus group: OFAC sanctions crypto addresses related to North Korea cybercrime group

Last week, the Office of Foreign Asset Control (OFAC) added three crypto addresses from the Lazarus group to its Special Designated Nationals List (SDN List). Earlier in April, OFAC had already added the Ronin Bridge hack address to the list, as part of the group. OFAC’s latest designations targeting North