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Floki Inu Restricts Access to Staking Programs in Hong Kong: Regulatory Concerns Addressed

In a recent development, Floki Inu has made the decision to block users in Hong Kong from accessing its staking programs. This action follows a warning from the Securities and Futures Commission of Hong Kong, which raised concerns about the staking programs being labeled as suspicious investment products due to the high annualized return targets ranging from 30% to over 100%. Despite the regulatory scrutiny, the Floki team has come forward to defend the elevated Annual Percentage Yield (APY) by explaining that it is a result of allocating the majority of TokenFi's token supply to stakers. Key Points: Floki Inu has restricted access to its staking programs for users in Hong Kong. The Securities and Futures Commission of Hong Kong issued a cautionary warning regarding the staking programs' high annualized return targets. The Floki team justified the high APY by attributing it to the allocation of the majority of TokenFi's token supply to stakers.

Unveiling the MailerLite Phishing Attack: A Deep Dive into the Crypto Market Breach

The recent phishing attack on email service provider MailerLite has raised significant concerns within the crypto market. The company disclosed to Decrypt that the breach, which occurred when a support team member unwittingly fell victim to a deceptive link and provided their Google credentials, resulted in unauthorized access to MailerLite's internal system. Here are the key points of the incident:

  • Hackers gained access to MailerLite's internal system by executing a password reset for a specific user on the admin panel.
  • They were able to impersonate user accounts, focusing primarily on cryptocurrency-related accounts.
  • A total of 117 accounts were accessed, with some being used to launch phishing campaigns using stolen information.
  • Notable affected accounts included CoinTelegraph, Wallet Connect, Token Terminal, DeFi, and Decrypt.
  • The hackers managed to steal over $580,000, according to ZachXBT, with the funds being sent to a specified address.
  • Web3 security firm Blockaid estimated the total haul to be over $600,000.
  • MailerLite promptly identified and resolved the issue, eliminating the access method used by the perpetrators to breach the platform.
  • Although the initial figure of stolen funds was reported as $3.3 million by a blockchain analytics platform, there was uncertainty surrounding this amount.

The phishing incident serves as a stark reminder of the importance of robust cybersecurity measures, particularly in the ever-evolving landscape of digital threats. Organizations must remain vigilant and proactive in safeguarding sensitive information to prevent similar breaches in the future.

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