🔐 Cyber News (May 22, 2024):
1️⃣ EC: The European Commission (EC) has initiated an official inquiry into #Meta Corporation to assess its endeavors in safeguarding minors on the Facebook and Instagram social platforms. 👨⚖️
2️⃣ pump.fun: Accusations have been levied against a former employee by Pump.fun, the platform for launching meme tokens on Solana, citing an exploit resulting in a $1.9 million loss. Allegedly, the perpetrator capitalized on their "privileged position" to gain withdrawal rights and leveraged flash loans in SOL to procure tokens until they hit 100% on the "binding curve," thereby accessing liquidity to settle debts. 🔍💰
3️⃣ Financial Times: British engineering firm Arup incurred a $25 million loss due to fraudulent activity involving deepfakes during a video conference. 📉🎭
4️⃣ Justice: The US Department of Justice announced the arrest of two Chinese nationals on charges of laundering $73 million through sham companies associated with cryptocurrency investment scams. Darren Lee, 41, was apprehended on April 12, 2024, at Hartsfield-Jackson Atlanta International Airport, while Yicheng Zhang, 38, was detained on May 16 in Los Angeles. ⚖️🔒
5️⃣ benefactor: An unidentified individual released and withdrew 5 billion #GALA tokens from the Gala Games Web3 gaming platform, amounting to approximately $210 million. The perpetrator managed to sell 600 million GALA tokens through the decentralized exchange Uniswap. Consequently, the asset's price plummeted by approximately 20% in less than an hour — from around $0.048 to $0.038 (CoinGecko). 💸🎮
💪 Have any questions? Feel free to ask in the comments below!