Daily Crypto News | June 6th, 2022

1. StepN Again Faced DDOS Attacks.

The popular move-to-earn gamefi StepN, which operating on Solana, was hit with 25 millions of distributed denial-of-service (DDoS) attacks this weekend. This is the 3rd occurrence in just months. According to their Twitter page, Stepn’s devs announce that they need 1-12 hours to retrieve this error.
Hackers seem interested in bringing down popular apps such as StepN. In April and again in May, the game announced people were trying to cripple it by sending millions of DDoS attacks.
A DDoS attack is when malicious actors try to bring down a website by overloading it with useless traffic. This kind of attacks are very common, since the beginning of Internet and particularly in the crypto world.

2. Bored Apes Co-Founder Criticizes Discord After the Exploit.

Since the phishing attack with the lost of over 145 $ETH, a co-founder of Bored Ape Yacht Club (BAYC) NFT collection lashed out at Discord. He said on Twitter ‘Discord isn’t working for web3 communities. We need a better platform that puts security first.’
Yuga Labs, the NFT collection’s creator, said it was investigating the incident.

However, users of crypto community said the hack was the fault of BAYC Discord users. OKHotshot said ‘Don’t blame Discord for users getting socially engineered, having DMs open and clicking phishing links. Use the tool correctly first before blaming it.’

3. Bitcoin ATM Slows Down.

Since the beginning of 2022, Bitcoin ATM installations across the globe have seen a gradual slowdown, with May recording just 202 new BTC ATMs, a range last seen three years ago in 2019. However, the good sign is data from Coin ATM Radar reveals an evident comeback in the installation numbers, as the world saw 817 Bitcoin ATMs installed in June — in just the first five days.
Some of the key factors contributing to the slowdown of crypto ATM installations include geopolitical tensions across the world, unclear or anti-crypto regulations, market saturation and business impact due to the ongoing coronavirus pandemic.

For more information, Genesis Coin maintains its position as the leader in terms of the market share, representing 41% of the total operational crypto ATMs across the globe.

4. Uganda Central Bank: Open to Crypto Firms Participating in Regulatory Sandbox.

The Bank of Uganda (BOU) hinted that it is open to the idea of crypto firms participating in the regulatory sandbox.
A team from Blockchain Association of Uganda (BAU) has asked the Ugandan central bank about the idea of having crypto firms participate in its regulatory sandbox. Consequently, the BAU showed what it is open with the idea.

Formerly, the BOU launched its fintech regulatory sandbox in June 2021 and at that time the central bank would promote financial services innovation, attract capital and funding for fintech firms, and provide shared learning opportunities for the innovators and regulators. Meanwhile, in its tweet after receiving the letter from the central bank, the BAU said it looked forward to working with the central bank and other stakeholders ‘in shaping the opportunity for crypto in Uganda, while proactively mitigating the potential risks and ensuring consumer protection.’

5. Dubai’s Retail Giant Accepts Crypto at 29 Shopping Malls and 13 Hotels.

The leading retail corp Majid Al Futtaim, operating in shopping malls, hotels, cinemas, hypermarkets, and retail stores in the Middle East, Africa, and Asia, has announced its strategic partnership with global crypto exchange Binance. The two giants will cooperate on a number of crypto and blockchain projects.

Firstly, Binance Pay will be integrated to allow millions of customers to pay with cryptocurrencies at Majid Al Futtaim’s various destinations in line with appropriate laws and regulations. Binance Pay has supported more than 40 cryptocurrencies.
Further more, the Binance CEO CZ tweeted that the Adoption is continues.

 

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