13 hours ago
Chinese authorities have issued a warning about a group of scammers who falsely presented themselves as developers of a blockchain project called DeepSeek. These fraudsters used deceptive tactics to attract investors, claiming that the platform was built using DeepSeek technology and was a secure and efficient investment opportunity. The scammers also distributed fake DeepSeek applications that contained malware, compromising users` data and security. DeepSeek gained attention in January when its AI model reportedly matched OpenAI`s performance on certain benchmarks but at a lower cost. The buzz surrounding DeepSeek caught the attention of many investors, and fraudsters capitalized on the excitement by launching fake crowdfunding campaigns. These scammers disappeared with investors` funds after promising returns of over 10,000 yuan ($1,373) per month from their involvement with DeepSeek. In one scam, fraudsters sold a tutorial for 39.9 yuan ($5.5), claiming it would teach users how to write viral content. However, only four of the 104 pages in the tutorial contained relevant material, with the rest being publicly available information. In another scam, the fraudsters set up fake "monetization training camps," charging between 299 yuan ($41) and 399 yuan ($55) for courses that turned out to be entirely worthless. To add to the deception, the scammers created fake communities that appeared to be official DeepSeek groups. These communities promoted "internal test qualifications" and "advanced courses" before introducing DeepSeekCoin, a fake cryptocurrency they claimed had strong technical backing. Investors were lured in, only to lose all their funds. In response to the fraud, DeepSeek distanced itself from any crypto tokens associated with its name. The project clarified that it had never issued any cryptocurrency and emphasized that its only official social media presence was on Twitter. They further stated that they would not contact anyone through other accounts. Chinese authorities have also raised alarms about fake DeepSeek apps that are being used to spread malware. These apps, disguised under names like DeepSeek.apk, DeepSeek.exe, DeepSeek.msi, and DeepSeek.dmg, pose significant security risks. Once installed, the apps prompt users to download updates that contain harmful code, which then steals sensitive information like contacts and messages. In some cases, the malware prevents users from uninstalling the app, making it even harder to remove. Authorities warn that as AI applications such as DeepSeek continue to gain popularity, the likelihood of similar scams will rise. They advise users to be cautious when engaging with AI-related investment opportunities and to always verify sources before downloading apps. As the AI sector continues to expand, it is expected that scams involving Trojan viruses and impersonation of reputable platforms like DeepSeek will increase. To protect themselves from scams and malware, users are urged to carefully scrutinize the sources of investment opportunities and applications. This increased awareness will help prevent further losses and safeguard personal data in an environment where AI technology is rapidly advancing.
Coinpaprika
You can visit the page to read the article.
Source: Coinpaprika
Tags :
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
CME Bitcoin March Futures Gap Jumps By Over $9K
Bitcoin`s (BTC) spot price rose 9.5% from roughly $84,100 to over $94,000 on Sunday after President Donald Trump named BTC and four other coins – ETH, XRP, SOL and ADA – for U.S. strategic crypto reserve. That has led to a gap-up opening for the March futures listed on the CME, as shown by data source CME and charting platform TradingView. The contract opened at $95,000 early today, up $9,280 from Friday`s high of $85,720. The gap represents a non-traded zone, indicating a price level where no transactions occurred between consecutive trading sessions. This absence of trading suggests an abrupt change in the market sentiment, which, in this case, is bullish following the past week`s sell-off. Gaps are often filled as market participants tend to re-establish a balance after the disruption. The best example is the past week`s sell-off below $80,000, which filled the gap from November. So, the emergence of a new gap between $84K and $94K means prices could revisit this window once. Coinpaprika
Approved: dYdX Governance Revolutionizes Isolated Markets with New Funding Rate
Exciting news for the dYdX community! A significant governance proposal has just been approved, potentially reshaping the landscape for traders using isolated markets on this leading decentralized exchange. Let’s dive into the details of this impactful decision and understand what it means for you. What’s the Buzz About dYdX Governance and Isolated Markets? dYdX, a prominent decentralized exchange (DEX), prides itself on its community-driven approach. A cornerstone of this approach is its robust DeFi governance system, where token holders can propose and vote on changes that shape the platform’s future. Recently, a crucial proposal focused on adjusting the crypto funding rates for isolated markets has been making waves. For those new to the term, isolated markets on dYdX allow traders to engage with specific trading pairs without risking their entire portfolio. This risk management feature is particularly appealing in the volatile world of cryptocurrency trading. Funding rates, on the other hand, are periodic payments exchanged between traders based on the difference between perpetual contract prices and spot prices. They are a crucial mechanism to keep these markets anchored to their underlying assets. The Approved Proposal: A New Era for Funding Rates The proposal in question aimed to establish a base funding rate of 0.125 basis points per hour (0.00125% per hour) for these isolated markets . According to data from Mintscan, this proposal has successfully passed through the dYdX governance process. Let’s break down the key statistics of this decisive vote: Voter Turnout: A healthy 44.56% of eligible voters participated, demonstrating strong community engagement. Approval Rate: An overwhelming 95.51% voted in favor, signaling strong consensus on the proposed change. Against Votes: 0% of voters opposed the proposal, indicating near-unanimous agreement. Abstentions: A small 4.49% chose to abstain, a typical occurrence in governance votes. This clear mandate from the DeFi governance process signifies a significant shift in how funding rates will be structured on dYdX’s isolated markets. Why This Change Matters: Benefits and Implications So, why is this adjustment to crypto funding rates important? Let’s explore the potential benefits: Enhanced Market Stability: A well-calibrated base funding rate can contribute to more stable and predictable market conditions within isolated markets. Attracting Liquidity: Optimized funding rates can incentivize liquidity providers to participate in these markets, leading to tighter spreads and improved trading experiences. Trader Empowerment: Clear and consistent funding rate structures empower traders to better understand and manage their trading costs. Platform Competitiveness: By fine-tuning its funding rate mechanism, dYdX strengthens its position as a leading decentralized exchange , attracting both new and experienced traders. Navigating the New Funding Rate Landscape: Actionable Insights For dYdX users, understanding the implications of this new 0.125bp/hour funding rate is crucial. Here are some actionable insights: Review Your Strategies: If you actively trade in dYdX’s isolated markets, reassess your trading strategies in light of the new funding rate. Monitor Funding Rate Trends: Keep an eye on how the funding rates evolve in these markets post-implementation. Understanding the dynamics will be key to optimizing your trades. Engage with Governance: This proposal highlights the power of dYdX governance . Participate in future proposals to shape the platform’s direction. Explore Isolated Markets: If you haven’t yet, consider exploring the benefits of trading in isolated markets on dYdX, now with a clearly defined base funding rate. Potential Challenges and Considerations While the new funding rate is expected to bring several advantages, it’s also important to consider potential challenges: Market Volatility: Despite a base rate, funding rates can still fluctuate based on market conditions. Traders need to remain vigilant. Adaptation Period: It may take some time for the market to fully adjust to the new funding rate structure. Initial periods might see some volatility as participants adapt. Future Adjustments: DeFi governance is an iterative process. The community may propose further adjustments to funding rates in the future based on market feedback and data. Conclusion: A Bold Step Forward for dYdX and DeFi The approval of the 0.125bp/hour base funding rate for isolated markets marks a significant step forward for dYdX. It showcases the effectiveness of dYdX governance and its commitment to creating a robust and trader-friendly decentralized exchange . This move is poised to enhance market stability, attract liquidity, and empower traders within the dYdX ecosystem. As the DeFi space continues to evolve, proactive governance and thoughtful adjustments like these are essential for sustained growth and success. Keep an eye on dYdX – it’s clear they are actively shaping the future of decentralized trading! To learn more about the latest DeFi governance trends, explore our article on key developments shaping DeFi protocols and their communities. Coinpaprika
