Block.one's Social Media App; Binance DEX Restrictions; Japanese Bar Tests Lightning

Recapping the weekend's top crypto headlines:

  1. Block.one unveils a new EOS-enabled social media app
  2. Binance announces the website for Binance DEX - binance.org - will begin geo-fencing twenty-nine countries on July 1
  3. A bar in Japan is trialling Bitcoin’s Lightning Network for the month of June.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $8,485.92 (-2.31%) and $261.69 (-2.51%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,147.00 (-2.54%).

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Block.one Launches EOS-Powered Social Media App

Block.one - the company that created the blockchain protocol software used to run the EOS (EOS) network - unveiled Voice, a new social media platform powered by EOS. This was one of many announcements made by Block.one at its highly-anticipated #B1June event in Washington, D.C on Saturday.

Speaking about Voice at #B1June, Block.one’s chief technology officer Daniel Larimer explained it will incorporate a crypto token called the “Voice Token.” According to Larimer, the Voice’s self-titled native token can only be created by “real people producing real content liked by real people.”

Binance.org Blocks 29 Countries From Using DEX

The website of Binance’s non-custodial cryptocurrency exchange – Binance DEX – will block users from twenty-nine countries starting July 1. Among the banned countries are the U.S., Croatia, Iraq, and Croatia.

“Trading and accessing to the wallet interface through www.binance.org will no longer by available to users with [an] IP address from the countries listed above,” reads a message when accessing the platform from one of the twenty-nine affected countries.

Binance DEX – which runs on Binance Chain – launched on April 23 following a two-month testnet period. The exchange continues to list. At the time of writing, there are nine cryptocurrencies listed on Binance DEX, all of which trade against Binance Coin (BNB).

Bitcoin’s Lightning Network Tested by Japanese Bar

Awabar Fukouka – a bar based in Japan – will this month team up with a local blockchain development startup working on Bitcoin’s Lightning Network protocol to let customers pay for drinks using the layer-two experimental payments network.

Payments will be possible thanks to an app created by the Japanese startup, known as Nayuta, which is enabled by BTCPay, an open-source cryptocurrency payment processing service. Speaking about the experiment, Awabar Fukouka’s owners told CoinDesk they “hope it helps familiarize the community with the Lightning Network payment system.

Bitcoin Scam Artists are Using Fake QR Code Generators: Report

  • ZenGO published report showing crypto scammers are using QR code generators to steal crypto.
  • Scam websites are showing up at the top of Google searches. 

Researchers have issued a warning that scam artists are using Google search results and QR code generators as a potential avenue for fraud.

Fake QR Code Generators

According to the report by ZenGO, four of the first five Google search results for questions like “bitcoin QR generator,” led to scam websites. Rather than generating new wallet addresses for users, these QR codes lead back to the scammer’s bitcoin wallet ultimately causing theft of BTC. 

The report highlighted QR codes as a particularly malicious method for scammers to target crypto wallets, as users are unable to read or differentiate between addresses.

According to the report, 

These sites generate a QR code that encodes an address controlled by the scammers, instead of the one requested by the user, thus directing all payments for this QR code to the scammers.

The report continues, 

Scammers do not even bother with generating their fake QR themselves, instead they shamelessly call a blockchain explorer API to generate the QR for their address.

ZenGO estimates that the simple scam may have already cost users $20,000 in stolen BTC. The company recommends users avoid googling for QR code generators and instead use a trusted block explorer. They also recommend verifying the address of the QR code before sharing it with others. 

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