🔥 Amazon's NFT / crypto gaming platform rumors

🔥 Amazon's NFT / crypto gaming platform rumors 😵 Coinbase hit with a $3m Fine for operating without license in Netherlands 💸 The Blockchain Bandit is cashing out after 6 years of being dormant

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🔥 Amazon's NFT / crypto gaming platform rumors 

😵 Coinbase hit with a $3m Fine for operating without license in Netherlands

💸 The Blockchain Bandit is cashing out after 6 years of being dormant

Amazon's NFT / crypto gaming platform rumors

Amazon is apparently making a push into the burgeoning NFT and crypto gaming markets with an upcoming initiative. According to Blockworks, Amazon has over a dozen partners lined up for the project. These partners could be involved in offering gamers incentives to play their games using NFTs or other cryptocurrencies.

The initiative is still in development but is expected to launch sometime in April, and it will reportedly be managed by the parent company instead of Amazon Web Services. This indicates that Amazon is making a direct effort to get involved in this emerging market.

Companies like Amazon can have a massive influence on the crypto gaming industry and how it evolves over time. The fact that Amazon has so many partners involved in this project shows just how serious they are about getting into the space. It's certainly something to pay attention to as the launch of this initiative draws nearer. With Amazon's massive reach, there's no telling what kind of effect it could have on the NFT and crypto gaming markets.

Coinbase hit with a $3m Fine for operating without license in Netherlands

Coinbase just got hit with a $3.6 million fine for allegedly operating an unregistered business in the Netherlands between November 15, 2020, and August 24, 2022. Talk about a costly oversight!

The fine was increased from the base $2.18 million due to supposed severity of the violation and the fact that Coinbase had garnered a significant customer base in such a short period of time. Coinbase has until March to fight the fine - but that seems like a hefty amount to pay for being "too slow" at filing the right paperwork.

This wasn't the first time a major crypto exchange received a penalty for providing services without the necessary license. In 2022 the Dutch central bank imposed a similar fine on the Binance crypto exchange for failing to obtain the necessary license.

Governments around the world seem to be tightening regulations on the crypto industry and it's important for companies to stay up-to-date with the latest laws, otherwise they risk hefty fines and who knows, after a big enough fine CEX users might feel the impact of this too.

The Blockchain Bandit is cashing out after 6 years of being dormant

After 6 years of being dormant, the wallets of the infamous Blockchain Bandit have started to move. It's been almost half a decade since the unknown hacker managed to steal crypto assets from 732 wallets by a process known as ethercombing.

Ethercombing is a process of trying to guess the ETH seedphrase of wallets. It is a technique used by hackers to exploit human vulnerabilities and guess private keys, thereby stealing crypto assets from unsuspecting victims. Combing the ether isn't an easy task though, and guessing a random Ethereum seed phrase is nearly impossible.

There's a couple of ways that could have happened, one theory being that weak keys could be generated due to Ethereum wallets that cut off keys at just a fraction of their intended length due to coding errors or let inexperienced users choose their own keys, or even that included malicious code corrupting the randomization process to make keys easy to guess for the wallet's developer.

In any case the thief had time and the appropriate computing power to sniff out the right passwords and claim the crypto assets, making him or her one of the most infamous Ethereum hackers in history. What has happened to those funds?

According to Chainalysis, the Blockchain Bandit might be cashing out their crypto assets at last, emptying their wallet of 51k Ether and 470 Bitcoin, now worth around $90 million. It seems the recent bullish movements of the crypto market have given the hacker a much needed impulse to finally cash out their stolen spoils.