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July 4th - At 17:30 Beijing time on July 4, 2026, my country successfully launched the Qianfan Polar Orbit 13 satellite constellation into its predetermined orbit using a Long March 6A carrier rocket from the Taiyuan Satellite Launch Center. The launch mission was a complete success.On July 4th, European Central Bank (ECB) Governing Council member Mohelan stated on Saturday that following last months interest rate hike, data shows inflation has fallen with the plunge in oil prices, placing the ECB in a "favorable position." The ECB does not provide forward guidance, so it will not reveal its plans for July. However, the rapid decline in oil prices has provided some relief and puts the ECB in a more advantageous position regarding interest rates. Mohelan also stated that the ECBs 2.25% interest rate is "very low" compared to other central banks, and the June rate hike was "reasonable" under any circumstances. He further pointed out that the ECBs communication at the time indicated that this rate hike was not the start of a new tightening cycle.German Chancellor Merz spoke by phone with Ukrainian President Zelensky to discuss Russian airstrikes on Kyiv and other parts of Ukraine.July 4 - From today (July 4) to the 6th, public farewell and memorial services for the late Iranian Supreme Leader Ayatollah Khamenei will be held in Tehran, the capital of Iran. It is estimated that 15 to 20 million Iranians will come to bid farewell to Khamenei.July 4 (Xinhua) -- The Malian Armed Forces issued a statement on July 4 saying that military positions in several parts of Mali were attacked early that morning, and the military is currently monitoring the situation. The statement said the attacked positions were located in Agailok, Anefisse, and Gao in the north, and Sevare in the central part of the country. The statement did not specify the identity of the attackers, the details of the attack, or whether there were any casualties. Mali has experienced a prolonged period of instability since 2012, with frequent terrorist attacks, armed conflicts, and ethnic violence. In recent years, the Malian military has repeatedly stated its commitment to continuing its fight against terrorism and armed groups within the country.

New York Senator Introduces Bill To Criminalize Crypto Fraud

Skylar Shaw

Apr 28, 2022 09:46

The rise of the crypto realm brought both benefits and drawbacks, and while the public recognized the benefits of the technology, criminals recognized how to use it to commit crimes.


As a consequence, hackers, fraudsters, and exploiters have appeared in the crypto realm, preying on naive investors and defrauding them of millions of dollars.

There Are No Longer Any Rug Pulls

Senator Kevin Thomas of New York presented legislation in the state senate today that would criminalize crypto crimes and impose penalties.


Thomas, who is also the Chairman of the Consumer Protection Committee, filed a bill titled – An act to alter the criminal legislation in regard to the establishment of certain crimes pertaining to crypto fraud.


The bill's main emphasis is on rug pulls, which are presently causing havoc on the bitcoin business, according to the proposed law.


Rug pulling is a circumstance in which a project seems to be genuine but is really handled by a person or individuals who destroy the business after enough investors engage and then flee with all of the money put in the project.


"Famous instances include Squid Game Coin ($SQUID), which began at a price of $0.016 per coin, soared to roughly $2,861.80 per coin in only one week, and then crashed to a price of $0.0007926 in less than five minutes following the rug pull," the bill said, citing the Squid Games-inspired token SQUID as the precedent for the legislation. 


To put it another way, the SQUID founders made a 23,000,000% profit on their investment, while their investors were duped out of millions. Prosecutors will have a clear legal framework in which to prosecute these sorts of crimes under this measure."


However, the actual penalties and budgetary repercussions have yet to be determined, and will be after the law is enacted.

Crypto-Crimes are on the Rise

Rug pulls may seem like legend, but they still exist, and they were single-handedly responsible for $2.8 billion in crypto-crime.


However, over time, these rug pullers have shifted their attention from classic token scamming to DeFi initiatives, notably NFTs.


Last year, the NFT market boomed, with many new NFT collections appearing on a regular basis. Investors bought these NFTs out of fear of missing out, and in one case, they lost $1.3 million.


The Frosties NFT project, which deceived its investors on January 11 when its 8,888 NFTs abruptly lost all value, was the first significant rug pull of 2022.


According to sources, the project's Twitter and Discord accounts, as well as its website, mysteriously vanished. An anonymous invader had taken $1.1 million (ETH) and $4,000 worth of Ether tokens in the previous two days, it was subsequently discovered.


Thus, although criminalizing rug pulls may put a stop to it, it still leaves a loophole for other crimes, which must be criminalized as quickly as possible.



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