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.

Canadian Teen Charged in $50 Million Crypto Crime Ring

Michael LaVere
  • Eighteen-year-old Samy Bensaci from Montreal has been accused of participating in a $50 million crypto crime ring.
  • The hackers used SIM-swapping techniques to gain access to the accounts of cryptocurrency holders. 

A Canadian teenager has been charged by authorities in connection to a $50 million SIM-swapping scam targeting cryptocurrency holders. 

According to a report by Infosecurity Magainze, eighteen-year-old hacker Samy Bensaci of Montreal has been accused by Canadian authorities for his role in a crime ring that stole millions from American and Canadian cryptocurrency investors. 

The scam involved a SIM-swapping technique to illegally gain access to the cell phones of crypto holders before hacking into their accounts. 

Lieutenant Hugo Fournier, a spokesperson for the Sûreté du Québec Candian Police Force, said the elaborate fraud was responsible for the theft of “$50 million from our neighbors to the south and $300,000 in Canada. 

Don Tapscott, head of the Blockchain Research Institute, and his son Alex were among the alleged victims of the hack. Tapscott later confirmed that he had been affected by the scheme, telling The Star, 

We can confirm that last year a hacker attempted steal crypto assets from our company and its employees. That attempt was unsuccessful. We cooperated with the police [and] have been impressed with their determination to bring those responsible to justice.

Bensaci was arrested in Victoria, British Colombia in November and later released on a $200,000 bail. 

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