👑The king of NFTs kneels

Hello Nutty family 🥜! Hope you had a fantastic Christmas! Today will discuss about 2 kings. What they did and their powers. Without further adieu let us dive in, 

• The king of NFTs kneels 👑

• The king of cryptocurrency scams triumphs 🎉

• Some other NEWS in a nutshell 🥜

• Nutty Meme 🥜

On one side a king got brought down on its kneesIts citizens angry with the law it preachsOn the other side a king is triumphantFor not the right reasons and lies rampant

The king of NFTs kneels 👑

When we say "King of NFTs," who do we mean? Do we mean a whale with millions of dollars' worth of NFTs in a wallet? No, we do not. Have you ever heard of a king paying taxes? No, right? 🐳

Even our friendly NFT whale pays taxes to our king, OpenSea. 👑 🚢

Opensea is the largest NFT trading platform in the world. It has stood strong even when faced with rivals like looksrare, x2y2, and Blur. 💪

Opensea has been banning Cuban artists from listing their NFTs on Opensea for a long time. Things blew up after it delisted NFTcuba. ART. 🔨

NFTCuba. ART is a project that tries to bring the work of Cuban artists to the limelight. It has been battling this for a long time and recently tweeted about this incident. 🐦 

The reason for delisting? Sanctions by the US government against Cuba 🫡

How can the kings dare to rebel against the gods? The US government 🙇

According to OpenSea, they have zero tolerance for countries or individuals sanctioned by the US government. They will continue banning people and organisations if and when they find them in violation of their terms and services. ⛔

Quite a sorry state, don’t you think? NFTs were going to be the carriers of decentralization, and here we have our NFT King kneeling. 🧎

This incident shows the flaws in centralised companies. They can ban accounts according to their own whims or the decrees of their gods or the government of the country in which their headquarters are based. 👎

So where do we go from here? 🛣️

The citizens of Web3 seek a decentralised marketplace king who is not bound by oaths to gods and their petty politics. Even after we somehow find such a marketplace, shifting the loyalty of the citizens will be a big task. 🐘

It is because you will need to build a lot of trust and provide incentives for the migration to take place. 🌞

The king of cryptocurrency scams triumphs 🎉

North Korea is well-known for a variety of reasons.

• Its ruler Kim Jong Un. 😎

• Its nuclear programmes 🚀

• Its human rights 🥹

And now for the crypto scams and hacking 🧂

Yes, it is one of the kings of crypto currency scams in the world. 🫡 (A king for mostly wrong reasons, huh?)

According to reports, North Korea has stolen nearly $1.2 billion in five years. 🤯

Slowmist recently discovered that North Korea is also responsible for over 500 phishing sites that appear to be legitimate websites.That is similar to OpenSea, x2y2, and Rarible. ⛔

It dupes users by diverting them to "malicious minting websites" and making them connect their wallets. ⛏️

According to Slowmist, the hacks had some unique traits that are commonly used by North Korean hackers. Like 

• recording and saving user data to external sites ⏺️

• using the HTTP request path to get the NFT price list 📓

• links to images of the projects 🖼️

Like a king, North Korea cannot possibly be caught and kept in prison. They believe in only one god, Kim Jong Un. So matters are sorted on that end as well. 🙇

Nutty Take 🥜

With the growing adoption of cryptocurrency, unfortunately, these hacks will become more widespread. To counter this, we need to keep ourselves updated on security. 👮

At Nutshell Daily, we recommend people use Pocket Universe. It is a security extension that alerts users to the true nature of the contract during interaction. ✅

This is NOT a paid promotion. We truly love the tool, and it is free to use! 🆓

Keep safe out there, nutty family!

Some other NEWS in a nutshell 🥜

• According to recent disclosures, the seventh largest bitcoin mining pool, BTC.com, faced a cyber attack worth $3 million on December 3rd. 

• Fake BitKeep apks steal over $8 million. According to the company, their latest update got hijacked.

• Bitcoin’s hash rate fell by nearly 40% after a recent storm in the US, which left millions without power.

Nutty Meme 🥜

All together not a pleasant start of the week to be honest. Banning, scamming and exploting is all we had for today. Looking forward to some positive news the next time we meet! Till then stay safe out there fam!

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