User – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sun, 07 Sep 2025 16:08:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 User – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Venus Protocol Halts Activity After User Falls for $13.5 Million Crypto Scam https://earlybirdsinvest.com/venus-protocol-halts-activity-after-user-falls-for-13-5-million-crypto-scam/ https://earlybirdsinvest.com/venus-protocol-halts-activity-after-user-falls-for-13-5-million-crypto-scam/#respond Sun, 07 Sep 2025 16:08:04 +0000 https://earlybirdsinvest.com/venus-protocol-halts-activity-after-user-falls-for-13-5-million-crypto-scam/

A user on the decentralized lending platform Venus Protocol lost $13.5 million after unknowingly approving a malicious transaction.

The attack did not exploit any flaw in Venus Protocol itself but instead took advantage of a phishing scam, where the user was tricked into giving access to their wallet.

Blockchain security firm PeckShield first reported the incident on September 2. Initially, they estimated the loss at around $27 million, but later adjusted this figure to $13.5 million after accounting for the user’s outstanding debt.

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Following community concerns, Venus Protocol addressed the situation on X. The team confirmed that there was no technical issue with the platform and stated that the problem likely came from the user’s end.

When asked directly if this was caused by user error, Venus Protocol replied:

Right now, yes, that appears to be the case. We will keep everyone updated as we investigate.

The platform was temporarily paused while internal security checks were carried out.

Although Venus Protocol’s systems were not breached, the team still decided to suspend operations briefly to make sure nothing else was at risk. They also reassured users that smart contracts remained secure and fully operational.

The scam occurred around the same time as another phishing-related event. Users holding WLFI governance tokens from World Liberty Financial were also targeted in a separate wallet exploit that same day. How? Read the full story.

]]> https://earlybirdsinvest.com/venus-protocol-halts-activity-after-user-falls-for-13-5-million-crypto-scam/feed/ 0 57247 NFTs stage comeback with $530M in July trades, flipping DeFi user activity https://earlybirdsinvest.com/nfts-stage-comeback-with-530m-in-july-trades-flipping-defi-user-activity/ https://earlybirdsinvest.com/nfts-stage-comeback-with-530m-in-july-trades-flipping-defi-user-activity/#respond Fri, 08 Aug 2025 07:08:40 +0000 https://earlybirdsinvest.com/nfts-stage-comeback-with-530m-in-july-trades-flipping-defi-user-activity/

The NFT market saw a remarkable resurgence in July, outpacing DeFi in terms of user activity, according to an Aug. 7 DappRadar report.

The shift marks a significant milestone and could indicate that NFTs are once again capturing the public’s attention following significant lull that has lasted since their fall in the 2022 bear market.

NFT Flips DeFi
NFT Flips DeFi User Activity (Source: DappRadar)

NFTs volume surge in July

DappRadar data showed that NFT trading volume surged by 96%, reaching $530 million in July. However, the total number of transactions fell by 4%, with only 5 million NFTs changing hands during the month.

The trend reveals a clear shift in buyer behavior, with fewer NFTs changing hands but selling for significantly higher prices. In fact, the average NFT sale price more than doubled, rising from $52 in June to $105 in July.

Platforms catering to power users and creators saw the most growth during the period. Blur accounted for as much as 80% of Ethereum-based NFT trading volume, driven by professional traders and its Blend lending feature.

NFT Trading Volume And Sales Count
NFT Trading Volume And Sales Count in 2025 (Source: DappRadar)

Meanwhile, OpenSea, the largest NFT marketplace, remained the most active in daily user count, with approximately 27,000 traders, thanks to its long-tail listings and multichain support.

Meanwhile, Zora, a platform built for creators on the Coinbase-backed Base network, gained momentum with its Layer 2 solution and native ZORA token, which reduced NFT minting costs.

DappRadar concluded that these numbers show the significant evolution within the NFT landscape from the early market hype to the increasing utility of these digital assets.

According to the blockchain firm, the space is no longer limited to art and digital collectibles. Instead, it has expanded into practical use cases such as digital identity, event ticketing, gaming, and real-world asset tokenization.

DeFi grows too

While NFTs made waves in July, DeFi also continued to experience impressive growth. DappRadar reported that the total value of assets locked (TVL) in DeFi surged by over 30%, reaching $259 billion by the end of the month.

Notably, the sector reached a new all-time high of $270 billion on July 28, driven by growing user demand and fresh liquidity injection across lending, trading, and tokenized assets.

Meanwhile, a standout trend in DeFi came from tokenized stocks, with wallet interactions increasing from approximately 1,600 to over 90,000. This surge contributed to a 220% increase in the market cap of tokenized stocks, signaling that real-world assets (RWAs) are gaining substantial traction.

Tope DeFi Protocols
Top DeFi Blockchain Networks by TVL (Source: DappRadar)

Across assets, Ethereum continued to lead DeFi, commanding $166 billion in TVL, far surpassing Solana’s $23 billion.

ETH’s significant rise can be attributed to a nearly 60% price surge in July, likely driven by positive regulatory developments, alongside staking rewards reaching 29.4% APY.

On Solana, Hyperliquid emerged as a key player, accounting for 35% of blockchain revenue in July. The platform saw rising demand for derivatives and now processes over 60% of 24-hour perpetual trading volume, with $15.3 billion in open interest and $5.1 billion in USDC bridging.

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]]> https://earlybirdsinvest.com/nfts-stage-comeback-with-530m-in-july-trades-flipping-defi-user-activity/feed/ 0 52101 Women’s safety app Tea breached, leaking 13,000 user photos to 4chan https://earlybirdsinvest.com/womens-safety-app-tea-breached-leaking-13000-user-photos-to-4chan/ https://earlybirdsinvest.com/womens-safety-app-tea-breached-leaking-13000-user-photos-to-4chan/#respond Sat, 26 Jul 2025 04:46:19 +0000 https://earlybirdsinvest.com/womens-safety-app-tea-breached-leaking-13000-user-photos-to-4chan/

A dating safety app designed to protect women has exposed the very users it promised to shield. Tea, which recently topped Apple’s App Store charts, suffered a data breach that leaked 13,000 verification photos and government IDs of its female users, as reported by NBC News.

The hack came after users on 4chan called for a “hack and leak” campaign against the platform. Tea requires women to submit selfies and identification to verify their gender before they can join the service, where they share information about men they’ve dated, marking them as “red flags” or “green flags.”

The company confirmed that attackers accessed a two-year-old database containing approximately 72,000 images. A Tea spokesperson told NBC News the stored data “was originally stored in compliance with law enforcement requirements related to cyberbullying prevention.”

Tea was created by Sean Cook after witnessing his mother’s “terrifying experience with online dating,” including encounters with catfishers and men with undisclosed criminal records.

The breach has already had real-world consequences. Users on 4chan and X have been sharing the stolen photos, and someone created a Google Map showing coordinates of affected Tea users, though without names or addresses.

“Protecting our users’ privacy and data is our highest priority. Tea is taking every necessary step to ensure the security of our platform and prevent further exposure,” the Tea spokesperson told NBC News. Are they going to hire security details for all 13,000 women who’ve been doxxed?

Previously:
• A quantitative analysis of doxing: who gets doxed, and how can we detect doxing automatically?

]]> https://earlybirdsinvest.com/womens-safety-app-tea-breached-leaking-13000-user-photos-to-4chan/feed/ 0 49712 Over $3.4 billion in Ethereum lost forever due to user mistakes and contract bugs https://earlybirdsinvest.com/over-3-4-billion-in-ethereum-lost-forever-due-to-user-mistakes-and-contract-bugs/ https://earlybirdsinvest.com/over-3-4-billion-in-ethereum-lost-forever-due-to-user-mistakes-and-contract-bugs/#respond Tue, 22 Jul 2025 01:14:54 +0000 https://earlybirdsinvest.com/over-3-4-billion-in-ethereum-lost-forever-due-to-user-mistakes-and-contract-bugs/

More than 913,111 ETH has been permanently lost due to user and contract-related errors, according to Conor Grogan, a director at Coinbase.

At current prices, that amounts to approximately $3.43 billion in inaccessible assets, which represent over 0.76% of Ethereum’s total circulating supply.

Grogan highlighted several major incidents that have contributed to this significant number of irreversible ETH losses.

Lost Ethereum
Lost Ethereum (Source: X/ Grogan)

Topping the list is the Web3 Foundation, which lost 306,000 ETH due to a vulnerability in the Parity multisig wallet. The defunct Canadian crypto exchange QuadrigaCX lost 60,000 ETH through a faulty smart contract. NFT project Akutars mistakenly burned 11,500 ETH during a botched minting process.

Additionally, users have inexplicably sent over 25,000 ETH directly to burn addresses, permanently removing them from circulation.

Losses could be higher

Meanwhile, Grogan emphasized that the $3.4 billion figure is a conservative estimate.

According to him, the figure only accounts for provably inaccessible ETH, such as coins trapped in flawed contracts or burn addresses. It does not include ETH tied to lost private keys or dormant wallets from Ethereum’s early days, like Genesis wallets that haven’t moved funds in years.

He also pointed out that the figure is significantly higher when factoring in Ethereum’s destruction via the EIP-1559 burn mechanism, with more than 5.3 million ETH permanently removed from circulation. This total exceeds 5% of all ETH ever minted and represents over $23.4 billion in value.

]]> https://earlybirdsinvest.com/over-3-4-billion-in-ethereum-lost-forever-due-to-user-mistakes-and-contract-bugs/feed/ 0 48950 Indian Crypto ExchangeCoindCX rejects user funds moving after Wazirx claim https://earlybirdsinvest.com/indian-crypto-exchangecoindcx-rejects-user-funds-moving-after-wazirx-claim/ https://earlybirdsinvest.com/indian-crypto-exchangecoindcx-rejects-user-funds-moving-after-wazirx-claim/#respond Sun, 13 Jul 2025 00:03:43 +0000 https://earlybirdsinvest.com/indian-crypto-exchangecoindcx-rejects-user-funds-moving-after-wazirx-claim/

“Don’t fall into misinformation,” said Sumit Gupta, co-founder and CEO of Indian crypto exchange CoindCX, on Saturday amid allegations that the exchange had transferred funds to non-compliant entities in Lithuania.

The allegations were reportedly made by another Indian exchange Wazirx, which has been scrutinized since last year’s $230 million hack.

In an affidavit filed as part of the Singapore High Court lawsuit (Hearing will be scheduled for July 15th, 2025)Wazirx reportedly claimed that CoindCX holds user funds in a Lithuania-based entity not registered with the Indian Financial Information Unit. (fiu) Until February 2025.

Gupta denied these allegations in a message to Coindesk, highlighting that his India-based users INR and Crypto funds are always held by Neblio Technologies, a registered FIU India entity that is fully compliant with all Indian laws.

“For the record: CoindCX had no entities in Lithuania until February 2025. We were only involved with third-party entities to explore potential global expansion. (Neblio Technologies) In Lithuania, no user funds were moved or held to Lithuania-based entities,” Gupta said.

He added that Exchange updated its terms of service on February 7th this year to make Neblio Technologies an official contract party, with changes made to enhance transparency and user trust.

“We have done this proactively to ensure that CoindCX users never face the challenges they see in the Wazirx episode. This approach protects the user’s interests and hopes that other Indian exchanges will adopt the same standards,” Gupta said, “We are always committed to user safety, transparency and compliance with regulations.”

]]> https://earlybirdsinvest.com/indian-crypto-exchangecoindcx-rejects-user-funds-moving-after-wazirx-claim/feed/ 0 47295 ZE23 to Shift Social Media Economics with User Reward System https://earlybirdsinvest.com/ze23-to-shift-social-media-economics-with-user-reward-system/ https://earlybirdsinvest.com/ze23-to-shift-social-media-economics-with-user-reward-system/#respond Wed, 25 Jun 2025 17:46:20 +0000 https://earlybirdsinvest.com/ze23-to-shift-social-media-economics-with-user-reward-system/

Solana-based application ZE23 is set to introduce an alternative model to traditional social media platforms by compensating users for the time they spend engaging with content. Currently in its presale phase, the app promotes a decentralised structure where users and creators can earn through participation.

The platform proposes a reward-based system that seeks to address long-standing criticisms of major platforms such as YouTube, Instagram, and TikTok — particularly around data control and monetisation. These centralised platforms generate substantial profits from user activity, but offer limited financial returns to the users themselves.

Its developers argue that the platform offers a measurable way to quantify attention and engagement.

Key Insights

  • ZE23 is a Solana-based social platform where users are rewarded with $Z3 tokens
  • Tokens can be used for content promotion, advertising, premium features, and withdrawals
  • Token distribution is split among viewers (50%), creators (40%), and the platform (10%)
ZE23 to Shift Social Media Economics with User Reward System
Source: ZE23

What is ZE23?

ZE23 is a dApp developed on the Solana blockchain that combines elements of social media and financial incentives. It falls under the emerging category of “SocialFi” platforms, which aim to merge digital engagement with token-based reward systems.

The core idea is to compensate both creators and everyday users for their participation in the app, shifting the value model from centralised profit to shared distribution. The developers argue that existing social media platforms benefit disproportionately from user activity, whilst offering few direct rewards in return.

ZE23 is currently operating in a presale phase for its native token, $Z3, and has not yet released full metrics on its user base or timeline for full launch.

ZE23 to Shift Social Media Economics with User Reward System
Source: ZE23

How does ZE23 work?

ZE23 uses a system referred to as “Time Mining” to track user activity on the platform. Every second spent engaging with the app — whether consuming content or posting it — earns Z3 tokens. These tokens have defined uses within the ecosystem, including:

  • Boosting content visibility
  • Paying for advertising campaigns
  • Accessing premium features
  • Withdrawing funds from the platform

According to ZE23, the token distribution mechanism allocates half of all rewards to content consumers, 40% to content creators, and 10% to the platform itself for operational purposes.

The project includes a supply management system with a total initial token cap of 2 million and plans for a buyback-and-burn mechanism intended to reduce long-term supply.

]]> https://earlybirdsinvest.com/ze23-to-shift-social-media-economics-with-user-reward-system/feed/ 0 44082 Hackers Impersonate Coinbase User Support To Scam Victims of $4,000,000 Before Blowing Most of Money on Gambling: ZachXBT https://earlybirdsinvest.com/hackers-impersonate-coinbase-user-support-to-scam-victims-of-4000000-before-blowing-most-of-money-on-gambling-zachxbt/ https://earlybirdsinvest.com/hackers-impersonate-coinbase-user-support-to-scam-victims-of-4000000-before-blowing-most-of-money-on-gambling-zachxbt/#respond Mon, 23 Jun 2025 18:17:15 +0000 https://earlybirdsinvest.com/hackers-impersonate-coinbase-user-support-to-scam-victims-of-4000000-before-blowing-most-of-money-on-gambling-zachxbt/

An investigation by top on-chain analyst ZachXBT has revealed how an alleged New York-based con artist stole millions of dollars from victims by pretending to be support staff from Coinbase.

In a thread on the social media platform X, the pseudonymous sleuth details how a man named Christian Nieves – who goes by “Daytwo” and “PawsOnHips” online – allegedly stole $4 million from Coinbase users by impersonating employees at the crypto exchange.

ZachXBT says that Nieves operates a small scam-call center group and also works as a caller. The group allegedly primarily coerces their victims into setting up a Coinbase wallet with an already compromised seed phrase on phishing sites.

Other people in Nieves’ circle also allegedly helped in separate thefts, including a henchman named Justin going as “Paranoia” who executed a $240,000 heist of an elderly victim’s Bitcoin (BTC) wallet.

According to ZachXBT, a portion of that $240,000 was deposited into crypto betting site Roobet, and the rest was converted into Monero (XMR).

“I traced out his casino deposit address which links onchain to 30+ suspected thefts.

I expect there’s many additional victims I am unable to directly link.

While there’s potentially overlap between multiple threat actors the vast majority of activity pertains to Daytwo… 

Daytwo has a gambling problem and you’ll see onchain how casino deposits get smaller as he loses funds.

Recently this escalated to the point where he started stealing cuts from accomplices.”

At time of writing, Nieves and his alleged accomplices have not been charged with anything by law enforcement, but given the amount of digital and on-chain evidence, ZachXBT says it should be a “rather easy” case for authorities.

However, most of the victims’ money is likely unrecoverable since it has been lost to gambling, the analyst says.

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]]> https://earlybirdsinvest.com/hackers-impersonate-coinbase-user-support-to-scam-victims-of-4000000-before-blowing-most-of-money-on-gambling-zachxbt/feed/ 0 43702 Reddit weighs World’s scanning orbs for user verification — Report https://earlybirdsinvest.com/reddit-weighs-worlds-scanning-orbs-for-user-verification-report/ https://earlybirdsinvest.com/reddit-weighs-worlds-scanning-orbs-for-user-verification-report/#respond Fri, 20 Jun 2025 22:25:06 +0000 https://earlybirdsinvest.com/reddit-weighs-worlds-scanning-orbs-for-user-verification-report/

Social media platform Reddit is reportedly considering using the iris-scanning orbs developed by World — a project by Tools for Humanity, co-founded by OpenAI CEO Sam Altman — for its user verification system.

According to a Friday Semafor report citing two people familiar with the matter, the platform is weighing the World ID system as a way for Redditors to verify that they are unique individuals. The report suggested that the verification system could still allow users to remain anonymous if they chose to do so.

In response to the report, many users said they would delete their accounts or consider moving to another platform if Reddit were to adopt the verification system, citing concerns with privacy and anonymity. 

“Tell me – should I be happy that Reddit may enter the crypto space or sad that they want to verify us users by a method we already declined when [World] was launched?” said Reddit user Savi321. “Odd world out there.”

World’s biometric data collection through its “orbs” has faced pushback from many industry advocates and policymakers, some of whom have directed efforts to ban the project from collecting data from residents. As of May, the project reported that more than 12 million people scanned their irises using the orbs.

Related: ‘Humans can tell when it’s a human’ — Community mocks Worldcoin’s Orb Mini

World announced in April plans to debut in six US cities: Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco.

The Match Group, the dating giant behind Tinder and Hinge, has also said it will launch a pilot program using World ID for its apps. Visa announced in April that it would launch a credit card for World users who had completed iris scans.

Is Reddit a bastion of user anonymity and privacy?

In a May 5 Reddit post, CEO Steve Huffman said the platform was going to need “a little more information” about users in response to regulatory requirements regarding users’ age and addressing artificial intelligence, i.e., “to keep Reddit human.” The post did not suggest any involvement in World’s orbs at the time.

“Specifically, we will need to know whether you are a human, and in some locations, if you are an adult,” said Huffman. ”But we never want to know your name or who you are. The way we will do this is by working with various third-party services that can provide us with the essential information and nothing else.”

Magazine: Coinbase hack shows the law probably won’t protect you: Here’s why

]]> https://earlybirdsinvest.com/reddit-weighs-worlds-scanning-orbs-for-user-verification-report/feed/ 0 43179 OpenAI Fights The New York Times Lawsuit to Save Deleted User Chats https://earlybirdsinvest.com/openai-fights-the-new-york-times-lawsuit-to-save-deleted-user-chats/ https://earlybirdsinvest.com/openai-fights-the-new-york-times-lawsuit-to-save-deleted-user-chats/#respond Sat, 07 Jun 2025 04:31:23 +0000 https://earlybirdsinvest.com/openai-fights-the-new-york-times-lawsuit-to-save-deleted-user-chats/

OpenAI is attempting to overturn a court order that requires the company to retain copies of all user interactions, including those that have been deleted.

The request, published on June 5, is part of a copyright case filed by The New York Times.

The legal order, issued on May 13, tells OpenAI to stop removing output logs and to store them separately until further notice from the court. This includes logs that would normally be erased as part of routine system processes.

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OpenAI’s Chief Operating Officer, Brad Lightcap, stated the company believes this step goes too far. He explained that the company is challenging the ruling to protect users’ privacy and trust.

The New York Times filed its lawsuit in December 2023. It claims OpenAI and Microsoft used its content without permission to train their artificial intelligence (AI) tools, including ChatGPT and Bing Chat.

OpenAI said its actions fall under “fair use”, a legal concept that allows limited use of copyrighted work under certain conditions. The New York Times disagreed, especially when the AI can recreate full sentences from its articles or help people avoid the site’s paywall by summarizing locked content.

The New York Times stated that it is standing up for the value of journalism and protecting the rights of writers. However, OpenAI claimed that The New York Times has been selective in what examples it used in the lawsuit and is resisting innovation.

Meanwhile, Anthropic, an AI company, has been accused of using song lyrics without permission to train its AI model, Claude. How did Anthropic respond? Read the full story.

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Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
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Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/openai-fights-the-new-york-times-lawsuit-to-save-deleted-user-chats/feed/ 0 40594 Ethereum Foundation Announces Layoffs and Restructuring to Boost Scalability and User Experience https://earlybirdsinvest.com/ethereum-foundation-announces-layoffs-and-restructuring-to-boost-scalability-and-user-experience/ https://earlybirdsinvest.com/ethereum-foundation-announces-layoffs-and-restructuring-to-boost-scalability-and-user-experience/#respond Tue, 03 Jun 2025 17:53:50 +0000 https://earlybirdsinvest.com/ethereum-foundation-announces-layoffs-and-restructuring-to-boost-scalability-and-user-experience/

The Ethereum Foundation announced that it has fired some members of its research and development team.

This move is part of a larger restructuring plan designed to address key protocol design challenges.

Reorganization Efforts

According to a Monday blog post, the Foundation has rebranded its Protocol Research and Development division under a new, simplified name, “Protocol.”  The organization is also reorganizing its teams and introducing clear coordination structures focused on three main areas: scaling Ethereum’s base layer, expanding blob space, and improving user experience.

“This also means some members of PR&D won’t be continuing with the Ethereum Foundation. We hope these individuals continue on in the Ethereum ecosystem and encourage others building out their teams to seek them out,” the statement said.

The foundation did not name the people affected by the layoffs. However, it said these changes are needed to place it on a more “responsive and effective path.”

The restructured Protocol team will serve as a central hub for Ethereum’s core development efforts. The goal is to improve transparency around upgrade timelines, strengthen technical documentation, and support ongoing research.

The non-profit said leadership will play an important role in carrying out its plan, with roles being clearly defined to increase accountability and accelerate progress.

Tim Beiko and Ansgar Dietrichs will head efforts to scale Layer 1. Alex Stokes and Francesco D’Amato will be in charge of Layer 2 scaling, while Barnabé Monnot and Josh Rudolf will lead user experience improvements.

Dankrad Feist has also been appointed as strategic advisor across all three focus areas and will support the project leads in executing their responsibilities.

“We’re hopeful that this new structure will empower our internal teams to focus more clearly and drive key initiatives forward,” said Hsiao-Wei Weng, co-executive director at the Ethereum Foundation, in a post on X.

The announcement also emphasized the Ethereum community’s role. The foundation says it does not aim to replace external contributors but instead wants to uphold high working standards. In line with this, new governance forums are being introduced, and feedback channels are being enhanced to ensure more effective input.

Community Criticism

The reorganization comes in response to ongoing criticism over the foundation’s management and strategic direction. Some members of the Ethereum community have warned for over a year that unresolved technical issues such as scalability, transaction speeds, and developer engagement could pose risks to the network’s leadership in the space.

The non-profit has already made leadership changes to help address these concerns. In March, Hsiao-Wei Weng and Tomasz K. Stańczak were named co-executive directors. These appointments aimed to bring balance between operational and technical leadership.

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]]> https://earlybirdsinvest.com/ethereum-foundation-announces-layoffs-and-restructuring-to-boost-scalability-and-user-experience/feed/ 0 39935