OpenAI Targeted Again: Phony Crypto Token Scam

OpenAI Targeted Again: Phony Crypto Token Scam Hits Platform's X Account

OpenAI has once again fallen victim to cryptocurrency scammers. This time, the attackers compromised OpenAI Newsroom, a recently created account on platform X.

On Monday afternoon, the compromised account posted about a fake OpenAI-branded blockchain token called "$OPENAI." The post promised access to future beta programs for users who claimed the token.

Here's the catch: $OPENAI doesn't exist. The X post linked to a phishing website designed to steal users' cryptocurrency login credentials by mimicking the real OpenAI website. A prominent "CLAIM $OPENAI" button on the fake site further deceived unsuspecting users.

Alarmingly, as of publication, the malicious post and website remained active. Additionally, a repost and a reply promising further information about the fake token were also present. Disabling comments on the X post further concealed the fraudulent activity.

This incident underscores the ongoing threat of social engineering scams in the cryptocurrency space. It's crucial for users to remain vigilant and avoid engaging with suspicious offers, even if they appear to originate from legitimate sources.

China's Shadowy Control Over Bitcoin Mining Persists

Despite China's strict ban on cryptocurrencies, Chinese mining pools still hold a significant portion of Bitcoin's hashing power.

According to CryptoQuant CEO Ki Young Ju, over 55% of the Bitcoin network is controlled by Chinese mining pools. This dominance is attributed to the large number of smaller miners operating in China, who often rely on these pools for resources and support.

While the United States has seen a surge in Bitcoin mining activity, Chinese mining pools continue to maintain a substantial presence in the global network. This highlights the challenges of fully eradicating cryptocurrency mining in a country with a vast and decentralized network of miners.

Caroline Ellison's Fate Hangs in the Balance

The legal saga surrounding FTX continues. Caroline Ellison, former CEO of Alameda Research, is seeking leniency in exchange for her cooperation with prosecutors.

Ellison's legal team has argued for supervised release, citing her "extraordinary cooperation" with the government. However, there remains a possibility of prison time, with traders on Polymarket estimating a 20% chance of a 12-13 month sentence.

As Ellison's sentencing hearing approaches, the crypto community is closely watching to see how the court will rule. The outcome of this case could have significant implications for the broader cryptocurrency industry.

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