Shiba Inu (SHIB) Community Warned of Fake ‘Shytoshi Kusama’ Scammers

• Animoca Ventures has launched a proposal within the ApeCoin DAO community.
• A significant transfer of ARKM tokens by Arkham to Coinbase Prime has been observed.
• Warnings have been issued regarding fake ‘Shytoshi Kusama’ profiles targeting the Shiba Inu community.

Stay updated with the latest crypto news, including investments, security breaches, and community alerts. Dive into the details of Animoca Ventures’ new proposal, the ARKM token transfer, and warnings to SHIB holders.

Animoca Ventures Proposes ApeCoin Ventures Creation

According to the Snapshot governance page, Animoca Ventures, the early-stage venture capital arm of Animoca Brands, has launched a proposal within the ApeCoin DAO community to establish “ApeCoin Ventures.” The proposal outlines a $5 million investment in APE tokens by the ApeCoin DAO. Animoca Ventures will match this with $5 million in fiat currency to form a $10 million investment fund. This fund aims to invest in early-stage Web3 projects, prioritizing those that can integrate APE tokens into their ecosystems. Upon successful exits from these investments, 50% of the token returns will be paid back to the ApeCoin DAO, with profit plans or options to be distributed in APE. ApeCoin Ventures will charge a 1% management fee for activities including project review, due diligence, and cooperative promotions.

WazirX Launches White Hat Hacker Reward Program

Following a cyberattack on July 18, 2024, which led to the theft of over $230 million in crypto assets, Indian cryptocurrency exchange WazirX has launched a reward program to recover the stolen funds. The program invites the community to participate in two initiatives. The first involves tracking and freezing the stolen assets, offering rewards up to $10,000 for actionable intelligence that leads to asset freezing. The second initiative offers white hat hackers 5% of the recovered amount once the stolen assets are successfully retrieved. This move aims to leverage community support to safeguard and regain lost assets effectively.

Arkham Transfers $304.5 Million in ARKM to Coinbase Prime

On-chain observer ‘ai_9684xtpa’ has reported a significant transfer of 304.5 million ARKM tokens, valued at $477 million, from Arkham to Coinbase Prime. The tokens were distributed to 239 addresses shortly afterward. Arkham’s team carried out the transfer to meet tax and compliance requirements, initiated at 10 PM last night. The substantial transfer indicates a significant compliance maneuver and foregrounds the importance of regulatory adherence in major crypto transactions.

Major WBTC Whale Sells 60 WBTC for Profit

An on-chain observer known as ‘ai_9684xtpa’ revealed that a WBTC whale identified as ‘0x486’ recently sold 60 WBTC, worth $4.02 million, realizing a profit of $658,000. This whale accumulated a position of 870.46 WBTC at an average price of $55,991 between August 2023 and June 2024. Despite selling some of its holdings during this period, the whale still holds 342.73 WBTC, which currently has an unrealized profit of $3.72 million. This recent move could suggest a cautious outlook on the future market conditions for WBTC.

SHIB Community Alert: Beware of Fake ‘Shytoshi Kusama’ Profiles

The Shiba Inu (SHIB) community has received an urgent warning regarding scammers impersonating Shiba Inu leader Shytoshi Kusama on Telegram. These fraudsters use false profiles to solicit funds from unsuspecting members, often promising rewards or exclusive opportunities in return. The Shiba Inu-focused X account, ShibArmy Scam Alerts, has emphasized that Shytoshi Kusama will never ask for funds. Community members are urged to remain vigilant and report any suspicious activities to prevent falling victim to these scams.

Conclusion

The crypto world remains dynamic and fraught with both opportunities and challenges. From Animoca Ventures’ strategic investments in Web3 projects and Arkham’s significant ARKM transfer for compliance to WazirX’s proactive measures to recover stolen funds and ongoing vigilance within the SHIB community, these developments underline the importance of staying informed and cautious. As always, credible information and a measured approach are essential when navigating the constantly evolving cryptocurrency landscape.

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