Scorechain's Blog

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

AUSTRAC released guides on ransomware and criminal use of cryptocurrencies

Today, AUSTRAC, Australia’s AML/CFT regulator, released two guides to help companies identify ransomware and prevent criminal uses of cryptocurrencies. Cryptocurrencies in Australia On one side, AUSTRAC reports that cryptocurrency adoption is rapidly growing in Australia. According to Gemini’s 2022 Global State of Crypto, 18% of Australians own cryptocurrency. Australians’ interest

Peel chain: what is it and to what extent is it risky?

What is a peel chain? A peel chain, or peeling chain, is a transactional pattern on the blockchain. The aim is to launder large amounts of cryptocurrency through multiple transactions. In the fiat world, a peel chain is the equivalent of layering. It occurs when one large sum of cryptocurrency

Hydra and Garantex designated by OFAC after the dark web market shutdown

OFAC announced sanctions against the Russian exchange Garantex and Hydra dark web marketplace after German Authorities shut it down. As a result, OFAC added 100+ related crypto addresses to its SDN list. Hydra Market shut down by German authorities On Tuesday, Germany’s Federal Police (Bundeskriminalamt – BKA) issued a press

Ronin Bridge hack: $624+ million lost in largest DeFi hack

Ronin Bridge was hit by a hack on March 23rd as announced by its team this Tuesday. The hack resulted in the loss of $624 million in ETH and USDC. The biggest DeFi hack to date Ronin Bridge is a side chain of the Ethereum network launched in February 2021.

Li Finance: $600,000 lost in latest DeFi exploit

An attacker struck another decentralized finance (DeFi) protocol this week. On Monday, Li Finance announced the exploit of its smart contract resulting in the loss of $600,000 worth of funds. Li Finance exploit: what happened? On March 20, the attacker exploited a vulnerability in LI.FI smart contract to pull off