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Highlights
- Victims of a fake crypto trading scam have had their cryptocurrency returned.
- Police allege 150 people from around the world were led to believe they had deposited money into an online savings and trading service.
- FTX says they see gaming as an exciting use case for cryptocurrency as there are over two billion gamers in the world who have played with digital items.
Victims of a fake crypto trading scam have had their cryptocurrency returned. According to reports, Ethereum worth £4 million were returned to the 23 victims, following the seizure of £16 million in crypto by the Greater Manchester Police in July last year.
A man aged 23 and a woman aged 25 were arrested on suspicion of fraud and money laundering but have since been released amidst a pending investigation.
Police allege 150 people from around the world, including Australia, were led to believe they had deposited money into an online savings and trading service.
Instead, the crypto was transferred to the bank account of the perpetrators, who stole millions worth of Ethereum as well as some other digital currencies.
The arrests were made after police received intelligence which led to raids across the greater Manchester region.
Police say they are working on returning the remaining crypto to the 127 victims of the scam.
Meanwhile, Ethereum’s price continued to dip, currently sitting at around US$2,580, down over 5% in the last 24 hours.
Bitcoin’s price also continued to tumble, losing 4% in the past 24 hours. It currently sits at US$37,200.
Altcoin News
Crypto exchange FTX has told Bloomberg they’ll be starting a new gaming unit where game publishers can launch tokens and provide support for in-game NFTs.
FTX sees gaming as an exciting use case for cryptocurrency as there are over two billion gamers in the world who have played with digital items.
The newly planned gaming division at FTX follows the continued trend bringing blockchain-based products into the gaming space. This is evidenced by the growing number of metaverses which are now up and running, including one called Webland, where millions of dollars of virtual real estate was sold last week.
Despite this growing trend, it appears not every one in the gaming community is happy with the blockchain revolution. In fact, many game publishers have been forced to cancel proposed NFT projects after backlash from fans who say that blockchain technology adds little value to players.
Winners and Losers
Image Source @ 2022 Kalkine Media® Data Source: Coinmarketcap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
