Global Hive Buzz

Cryptocurrency Scam Inferno Drainer Shuts Down After Stealing $75 Million

A notorious multi-chain cryptocurrency scam service, Inferno Drainer, has decided to cease operations "for good" after pilfering $75 million from victims.

A Telegram post on November 26, 2023, announced the team's decision to shut down the service, citing a desire "to move on" without providing further details. The announcement assured that all Inferno-related files and servers would not be destroyed, allowing customers to smoothly transition to the new service of their choice.

Inferno Drainer first emerged in March 2023, leaving numerous investors bereft of their cryptocurrency holdings. The scam utilized over 9,000 phishing websites, targeting projects like Arbitrum, Optimism, MetaMask, OpenSea, LayerZero Labs, and more.

Operating as a subscription-based malware, Inferno Drainer charged customers 30% for creating phishing websites and an additional 20% for each successful theft. Cybersecurity firm Scam Sniffer estimates that Inferno Drainer absconded with nearly $75 million in less than a year.

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Tokenization of Investment Funds Greenlit in the UK

The United Kingdom has granted approval for funds to embrace tokenization, aiming to enhance efficiency, transparency, and competitiveness within the sector.

The Investment Association, the representative group for the UK investment management industry, revealed that UK funds can now move forward with the development of tokenization. The Technology Working Group of the Government’s Asset Management Taskforce collaborated closely with the Financial Conduct Authority (FCA) and HM Treasury to publish a roadmap for implementing distributed ledger technology (DLT)-enabled fund tokenization.

The report, titled "UK Fund Tokenisation: A Blueprint for Implementation," suggests that firms might explore public ledgers and interoperability in subsequent stages. The industry will work with authorities on potential legislative or regulatory impacts in further incremental stages.

Record-Breaking $3.1 Million Transaction Fee for Bitcoin Sender

In a historic event, a Bitcoin sender incurred a staggering $3.1 million in transaction fees for a transfer on Thursday.

Bitcoin miner Antpool received this exceptional fee as a reward for mining the corresponding block. On-chain data reveals that, in addition to the standard 6.25 BTC, Antpool earned 85.2163 BTC in fees for all transactions included in the block.

This transaction, located in block 818087, now stands as the largest transaction fee ever paid in Bitcoin's 14-year history. Interestingly, the sender's wallet was created just minutes before the transfer, and the recipient received only 55.78 BTC out of the initially sent 139.42 BTC.

While Bitcoin fees have surged recently due to increased activity around Bitcoin-based NFT projects, this particular transaction seems to be an individual error rather than a broader market impact.

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