Crypto Founder

A trader made 104-fold profit on the SUNDOG meme token📈 🔎An unknown trader earned $67,300 in seven hours on the SUNDOG meme token, increasing his deposit 104 times. This was noticed by Lookonchain analysts. According to experts, he purchased 6.87 million SUNDOG for 5,000 TRX (~$650). 💵Seven hours later, the trader sold 4.57 million SUNDOG for 522,840 TRX (~$68,000). The user's wallet was left with 2.29 million SUNDOG. Earlier, the insider trader made $5.6 million on DADDY, which is promoted by Andrew Tate. The former kickboxer deployed the meme token as a competitor to singer Iggy Azalea's MOTHER coin. 📍In June, some users made millions from listing WaterCoin (WATER) on the Jupiter and Raydium exchanges. Immediately after the start of trading, the meme token soared 83%, bringing $2.9 million to one trader. #news CryptoFounder | Subscribe

The SEC accused NovaTech of defrauding the company of $650 million⚖️ The U.S. Securities and Exchange Commission (SEC) accused the founders and promoters of NovaTech of organizing a pyramid scheme that raised more than $650 million in crypto-assets. 🛡Investors were guaranteed "investment security, returns from day one, and access to capital." However, in reality, most of the funds were used to pay existing investors, promoters, and for Petyonov's personal use.

"MLM schemes of this scale require promoter activity to sustain. Our actions show that we will hold accountable not only the organizers, but also the promoters who spread scam by illegally soliciting victims," SEC Office Director Eric Werner.

📍The commission has charged the defendants with violating anti-fraud regulations and registration requirements. The regulator is seeking permanent injunctive relief, civil penalties and refunds. #news CryptoFounder | Subscribe

Founder of ezBtc used user funds to play casino games💸 Canadian crypto platform ezBtc and its founder David Smiley embezzled about 13 million CAD (~$9.5 million) of customer funds, using part of it for gambling. This was reported by the British Columbia Securities Commission (BCSC). 📤The company, which folded in September 2019 and was liquidated in 2022, claimed to have kept all users' investments in cold storage. However, the BCSC found misappropriation of assets "for personal purposes." 💰According to the investigation, ezBtc accumulated approximately 2,300 BTC and 600 ETH between 2016 and 2019. According to the regulator, Smiley diverted nearly a third of users' funds for gambling and personal use:

"A total of 935.46 BTC and 159 ETH were transferred from ezBtc to the exchange accounts of Smiley and [gambling platforms] CloudBet and FortuneJack. Transactions to the two gambling sites were sometimes made directly from ezBtc and sometimes indirectly from ezBtc through Smiley's account and then to the gambling sites".

📍Sanctions against participants in the scheme will be imposed by September 24. They may include financial restrictions or a ban on market activity. Representatives of Smiley and ezBtc were not personally present at the hearing, but the founder of the company was represented by a lawyer. #news CryptoFounder | Subscribe

💵 Is diversification useless? Friends, today I thought about the fact that not everyone may understand what diversification is or why it is needed, so let's refresh our knowledge. 🔤 Diversification is a special strategy of investment portfolio management, which reduces risks and allows you to get profit at any situation on the market. Many people think that diversification ends with the fact that you simply shouldn't keep all your money in one place, but this is far from true. 1️⃣ This approach implies not only the distribution between places to store funds, but also their actual allocation. For example, don't keep all your capital in one market, be it stock or cryptocurrency. Or allocate funds between sectors so that if one fails, the profits from the others will cover all losses, etc. 2️⃣ In addition, using the example of the past week, we have seen that it is always profitable to keep some funds in fiat or stable coins. Are you diversifying your portfolio or sticking to another strategy? 🔥 — Diversification is a must 🤔 — I have a different strategy. I take risks. #education CryptoFounder | Subscribe

💰How the price of a house in the US has changed in bitcoins Today, a house in the US can be purchased for 6 bitcoins, which is almost 111 times less than in 2016. 📍At the same time, the price in dollars has increased 1.5 times from $288,000 to $434,000. #analytics CryptoFounder | Subscribe

📥 How not to get on honeypot? Friends, imagine: a new coin, the chart is flying upwards, promises of golden mountains... You are ready to invest, but stop! You might be facing a cunning honeypot — a trap designed to fool gullible investors. 📃 How does this scheme work? • Tempting Bait. Scammers clone popular coins or create one-day projects with unrealistic promises of profits. They have a perpetually rising chart with no drawdowns. • Smart contract with a secret. The code contains a mechanism that allows fraudsters to block the sale of tokens after purchase. The money gets trapped! • Disappearance. Once scammers accumulate enough funds, they disappear, leaving investors with nothing. 📚 Signs of honeypot: • Closed source smart contract. • Anonymous development team. • Social media with fake followers and aggressive marketing. • Promises of super big returns too good to be true. 📑 How not to get caught? • Check the project and its creators thoroughly, you can do it here. • Check the source code of the smart contract (if it is open source). • Don't trust quick and easy money. Remember: in the world of cryptocurrencies it is important to keep a cool head and carefully check the information. Safety first. ❕ Have you ever lost money on a honeypot? 🔥 - NO 🧐 - YES #education CryptoFounder | Subscribe

KuCoin launched GemSlot token earning platform🟢 Cryptocurrency exchange KuCoin has introduced GemSlot platform, which pays customers rewards in tokens of new projects for completing tasks. This is reported in a press release. ⚙️At the time of publication, GemSlot is distributing tokens of the cat in a dogs world (MEW) project. Users receive tickets for MEW deposits to the exchange, spot trading and inviting friends. They can later be exchanged for a portion of the prize pool tokens in the amount of 2 million MEW.

“GemSlot is a place where users can discover new gems by earning project tokens for completing simple tasks,” reads the press release.

On July 31, GemSlot will start distributing 260,000 COTI - tokens of L2 solution for Ethereum, focused on user privacy. 📍Earlier, KuCoin launched the initial exchange offering of the Liquidswap project. #news CryptoFounder | Subscribe

Neiro scam? 🪙Solana-based meme token developer Neiro (NEIRO) has earned $2.85 million after investing only 3 SOL ($552) in the coin's launch. This was pointed out by Lookonchain analysts. On July 27, the user issued 97.5 million NEIRO using the Pump.fun platform. He then sold 68 million NEIRO for 15,511 SOL ($2.85 million) through multiple wallets. 📈Thus his profit amounted to x5169.He also sent 10 million Neiro to a dead address, leaving 19.5 million NEIRO ($1.8 million) with an unrealized profit of 1.8 million. At the time of writing, the token's price is up 56.1% to $0.01985, according to CoinGecko. 📍Meanwhile, the coin has dropped 40% on the eth network, the question remains, is it scam or not after all? #news CryptoFounder | Subscribe

Ex-Huobi employees stole more than 40,000 private keys🪙 Four former employees of the cryptocurrency exchange Huobi introduced trojans into client wallets and stole more than 40,000 cid phrases and private keys in total. This was reported by journalist Colin Wu. 🔓According to the case file, in early March 2023, the three defendants Zhang, Dong and Liu decided to add a backdoor program to the wallet software. In this way, they gained access to more than 19,000 cryptocurrency addresses.

The specific amount of stolen assets has not been disclosed.

⛓In April 2024, the court sentenced Liu, Zhang and Dong to three years in prison and a fine of 30,000 yuan (over $4,000) for illegally obtaining computer information system data. The investigation later turned up another ex-Huobi employee, Zhang Moui, who also wrote a backdoor in the wallet's source code and stole more than 6,400 private keys and cid-phrases. The start of his criminal activity dates back to July 2021. ⚖️He received three years in prison and a fine of 50,000 yuan (~$7,000). Huobi cooperated with the Shanghai Public Security Bureau in investigating the incident. 📍As a reminder, in November 2023, there was a $110 million hack of HTX and Heco Bridge. #news CryptoFounder | Subscribe

Solana outperformed BNB by CMC🪙 Amid the market's recovery from a correction, cryptocurrency Solana (SOL) has gained ~6.5% over the past 24 hours, putting it ahead of BNB in terms of market capitalization. 📈The total value of SOL traded on the market is $84.46 billion; the corresponding figure for BNB is $84.39 billion, according to CoinMarketCap. 📍Earlier, the Solana team allocated $1 million to find bugs in the first version of the Firedancer validator client. The latter is designed to improve the stability and speed of the decentralized system. #news CryptoFounder | Subscribe