RNS.id, a digital Web3 identity platform developed to support the application and issuance of sovereignty-backed IDs, announced on Nov. 30 that it is integrating with zkSync for on-chain KYC. RNS.ID indicated in a release shared with Cointelegraph that its on-chain KYC solution is designed on a “privacy engine” to encrypt users' identity attributes or properties into different “hashed slices” with multiple signature verifications. RNS.ID aggregates users’ fragmented identity properties data and uses ZK-proofs to generate encrypted proofs from metadata. Additionally, the company stated that RNS.ID enables users to create their own "minimal disclosure identifying information system" for constrained usages, thereby …

United States technology company IBM and Danish logistics firm Maersk have decided to discontinue their co-developed blockchain-backed supply chain platform, TradeLens, citing a lack of “global industry collaboration” as a key reason behind the decision. Maersk stated on Nov. 29 that it has begun taking immediate action to cease operations on the platform which should take full effect by Q1 2023: “The TradeLens team is taking action to withdraw the offerings and discontinue the platform [...] During this process all parties involved will ensure that customers are attended to without disruptions to their businesses.” While the blockchain-based shipping solution was …

The first official decentralized autonomous organization (DAO) in the United States is taking on the Securities and Exchange Commission (SEC) over its 2021 token registrations. American CryptoFed DAO has told Cointelegraph it will represent itself without an attorney over SEC allegations that it omitted and misstated information in a securities registration last year. The DAO registered its native, interdependent stablecoin Ducat and governance token Locke in its 2021 filing with the SEC, but the regulator has begun proceedings to issue a stop order citing a raft of problems with the registration. In correspondence with Cointelegraph, American CryptoFed chief operation officer …

The Supreme Court of the Bahamas — where FTX Digital Marketsis headquartered — has approved two provisional liquidators to oversee the crypto exchange’s assets. According to a Nov. 14 announcement from the Bahamas' Securities Commission, the country’s supreme court approved the appointments of PricewaterhouseCoopers advisory partner Kevin Cambridge and partner Peter Greaves to act as “joint provisional liquidators” for FTX. The securities regulator also applied to have Brian Simms, a senior partner of Bahamas-based commercial law firm Lennox Patton, as a provision liquidator on Nov. 10. “Given the magnitude, urgency, and international implications of the unfolding events with regard to …

The United States Security Commission (SEC) won its case against blockchain-based file-sharing and payment network LBRY in district court in New Hampshire on Nov. 7 when that court decided to grant an SEC request for summary judgment filed in May. The case garnered lots of commentary on its own and in relation to the ongoing Ripple case. LBRY operates a digital content network. The Odysee video sharing website is its best known app. The network uses LBRY Credit (LBC) to reward users for performing tasks, referring new users, contributing to projects and publishing content, according to the LBRY website. LBC …

Users losing funds due to malicious activity is hardly unknown on Ethereum. In fact, it is the very reason researchers recently developed a proposal to introduce a type of token that is reversible in the event of a hack or other unsavory behaviors. Specifically, the suggestion would see the creation of an ERC-20R and ERC-721R, which would be modified versions of the standards that govern both regular Ethereum tokens and nonfungible tokens (NFTs). The premise goes like this: this new standard would allow users to make a “freeze request” on recent transactions that would lock those funds until a “decentralized …

Hardware-based cryptocurrency wallet provider Ledger has experienced some issues due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its chief technology officer. Ledger saw a “massive usage” of their platforms and suffered a “few scalability challenges” on Nov. 9, Ledger CTO Charles Guillemet reported in a statement on Twitter. Guillemet reasoned Ledger’s issues by the outcomes of the ongoing crisis of a major global cryptocurrency exchange, FTX. The CTO said that crypto investors have been increasingly offloading their holdings from crypto exchanges to Ledger, stating: “ After the FTX earthquake, there's a massive outflow from exchanges …

A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought similar charges against Ripple — claiming that its LBRY Credit token (LBC) was sold as a security under the 1933 Securities Act. According to the SEC, LBRY raised more than $11 million in U.S. dollars, Bitcoin, and services from investors between 2016 and 2021 without …

In the aftermath of the $28 million Deribit hack, the unknown exploiter is moving stolen funds using the decentralized cryptocurrency mixer, Tornado Cash. The Deribit hot wallet hacker has transferred a total of 1,610 Ether (ETH), or around $2.5 million, to Tornado Cash, according to data from the Ethereum block explorer Etherscan. The funds were transferred in 17 transactions, with the first outgoing transaction occurring on Nov. 5 —just a few days after Deribit suffered the hack. The amount of funds moved to Tornado Cash is just a fraction of all stolen ETH on the hacker’s address, as its balance …

Celebrating the myriads of accomplishments earned by the crypto ecosystem, Immunefi, Electric Capital, Bitscale Capital and MA Family together hosted The Bug House — a party for bringing together the global Web3 community. In a panel hosted by Cointelegraph editor-in-chief, Kristina Lucrezia Cornèr, sat with Mitchell Amador, founder and CEO at Immunefi and Brendan Eich, founder and CEO of Brave browser to discuss the evolution of Web3 and its future trajectory. “There’s a lot of Web2 in Web3. That’s a problem right now,” began Eich when asked about the ongoing Web2 to Web3 transition. From using trusted servers to sub-custody …

The entity supporting research and development of Polkadot as well as overseeing fundraising efforts for the blockchain has argued that the United States Securities and Exchange Commission should not consider the DOT token a security under its regulatory purview. In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token (DOT) had “morphed” and was “software” rather than a security. Schoenberger said the claim was “consistent with the views” it had shared with the SEC following discussions it began in November 2019. “While the Polkadot vision had not contemplated that the blockchain’s …

Bug bounty platform Immunefi has released its Whitehat Leaderboard — a scoring system that showcases the top 20 most elite white hats in Web3. The rank will measure a given white hat's skills and status amid Immunefi's security community, said the company at the Web Summit on Nov 4. A white hat hacker is someone who identifies security vulnerabilities by testing an organization's information technology security. In Immunefi's community, the top 10 white hats alone have generated over $42 million in total earnings by disclosing critical vulnerabilities that have led to big bounty payments in the software industry. In the …