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.

NFT Gaming Project CyberKongz Receives Wells Notice from SEC

CyberKongz, a gaming-based NFT project, announced on December 16 that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The notice raises concerns about the platform’s integration of its ERC-20 token with blockchain games and questions aspects of its activities, including its 2021 contract migration. The SEC’s Argument In a post on X, the CyberKongz team expressed their dismay with the agency’s handling of the situation, saying: “We are extremely disappointed at the approach the SEC has taken towards us, but we are going to stand up and fight for a brighter future that holds more clarity for NFT projects.” They disclosed that the issue began two years ago when the regulator first contacted them, during which time they operated quietly and under a lot of pressure. The post highlighted that the SEC’s main concern appears to center on whether ERC-20 tokens can function alongside blockchain games without being classified as securities. CyberKongz argued that this implication could have wide-ranging consequences for the Web3 gaming industry. They also said they are determined to contest the financial watchdog’s position and advocate for a clearer regulatory framework. Another point of contention involves the Genesis Kongz contract migration in April 2021, which the regulator reportedly interpreted as a token sale. The NFT project clarified that the migration was not a primary sale and criticized the SEC’s inability to differentiate between the two, stating: “If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?” The Wells Notice gives the platform 30 days to respond before the SEC decides whether to pursue enforcement action. While not a formal allegation of wrongdoing, such a notice shows that the agency is considering further legal steps. Broader Industry Issue This latest development adds CyberKongz to a growing list of blockchain and NFT entities under SEC scrutiny, including Coinbase, Consensys, Ripple, OpenSea, Uniswap Labs , and Bittrex , which have faced similar notices in recent years. Last month, Australian-based gaming company Immutable also reported receiving such a warning. At the time, they expressed frustrations over vague allegations and unclear regulatory guidelines. However, no further action has been taken since then. Meanwhile, CyberKongz has reassured its community that it remains committed to advancing its work without the burden of silence. It stated that the situation marks a turning point as it continues to advocate for clearer guidelines within the NFT and blockchain industries. The post NFT Gaming Project CyberKongz Receives Wells Notice from SEC appeared first on CryptoPotato . CoinOtag

---

8,358 Bank Customers Exposed As Billion-Dollar Lender Reveals Data Breach, Warns Social Security Numbers and Account Details at Risk

A billion-dollar US bank is warning thousands of customers of a major data breach. According to a filing with the Office of the Maine Attorney General, 8,358 customers at Citizens Bank – which is the 16th-largest bank in the US by total assets – are impacted. The breach is attributed to “insider wrongdoing” believed to have happened on October 23rd of 2023. Citizens Bank says the breach involves highly sensitive customer information. “Information that may have been involved includes your Citizens account number(s), social security number, date of birth, or identification details.” The bank is offering affected customers a two-year membership to an identity theft credit monitoring service. The incident comes two months after the bank suffered a separate security breach. In October, Citizens Bank detailed a data breach that exposed the personal information of approximately 100 customers to an unauthorized party. The Providence, Rhode Island-headquartered bank currently has about $220 billion in total assets, according to the Federal Reserve. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post 8,358 Bank Customers Exposed As Billion-Dollar Lender Reveals Data Breach, Warns Social Security Numbers and Account Details at Risk appeared first on The Daily Hodl . CoinOtag