Tech
CryptoWatch: Hamster Kombat App in Iran, Metallica Hacked for Cryptocurrency Scam, Binance Reports Rewards Program: Tech: Tech Times
This week on Tech Times’ CryptoWatch, we’re bringing you the biggest developments and stories. The first is Iran’s massive “Hamster Kombat” app craze, which promises significant earnings for users amid economic decline. There was also the massive hack of rock band Metallica on X, with cryptocurrency scammers using their accounts to promote a new token.
(Photo: Tech Times)
Finally, there is also the massive move by Binance, which introduced a new Rewards program that will offer users benefits and freebies for reporting suspicious activity.
The “Hamster Kombat” app in Iran is becoming popular despite economic difficulties
Iranians are getting into this craze Application “Hamster Kombat”, a new platform that allows them to earn money by doing different tasks like scanning QR codes in the midst of huge economic struggles. The country is experiencing massive inflation and unemployment, and is also facing Western sanctions. The app fulfills the hopes of the Iranian people.
It has been revealed that many Bitcoin believers in the country are using Hamster Kombata digital platform with strong ties to cryptocurrencies and major currency.
Despite great enthusiasm and conviction, experts and various groups are campaigning against the use of Hamster Kombat, citing the safety of the Iranian people as their reason.
Read also: Elon Musk: no cryptocurrencies on X Payments, aka the “Venmo-Like” service.
Metallica’s X Account Hack: Cryptocurrency Scammers Promote New Tokens
Among the numerous incidents of hacking of X accounts on famous personalities, Metallica were among those who owned social media platforms raided by cryptocurrency scammers to promote their new token. The $METAL token, a Solaba-based coin, surged as high as $3.37 million hours after Metallica promoted it by hacking the X account.
The scammers claimed to be tied to Ticketmaster and MoonPay to add legitimacy to their operations, but Keith Grossman, president of MoonPay, clarified who were not affiliated with it and called it a scam.
Metallica’s account was later recovered, and after the posts were deleted, the new token dropped to $90,000, several hours after the posts were deleted.
Binance to reward users who report suspicious activity
Binance has announced it latest rewards program which will offer rewards to those who report suspicious and questionable activity on the platform during attacks. This is part of Binance’s commitment to securing its platform, focusing on its user-friendly experiences on the platform, with this initiative aiming to prevent further harm to users.
While it was not reiterated how much users would receive from this rewards program, they were assured that whenever reports are made, Binance will investigate the incidents and take necessary action.
The platform had previously discovered that attackers were targeting sub-accounts, sub-wallets and fund manager accounts, which were then abused.
Related article: CryptoWatch: $3 Million Kraken Exploit Theft, Binance Face Sanctions in India, Elon Musk X Payments Absence of Crypto
ⓒ 2024 TECHTIMES.com All rights reserved. Do not reproduce without permission.