Pop star Iggy Azalea pledges to burn her own coins to combat crypto scams. Crypto losses from hacks and fraud declined by 12% in May, while the DeFi market remained strong. Read more on the latest DeFi developments and security measures.
The past week in decentralized finance land saw another memecoin frenzy, with celebrities launching their own memecoins — quite a trend shift from 2021–2022 when they launched their own nonfungible tokens . Among all the meme hysteria, pop star Iggy Azalea devised a “burning” plan to evade frauds and rug pulls.) worth $6.91 million appears to have received a large share of the stolen funds back from scammers.
. The supply auditing tool platform alleged that insiders bought “20% of the supply at launch” before Azalea announced the launch of MOTHER. The holdings were then dumped for $2 million before the announcement.Approximately $80,000 worth of a BEP-20 token labeled as “BTC” was lost in an exploit on the BNB Smart Chain involving multiple suspicious transactions. While $80,000 is considered a small amount compared to the average crypto exploit, it raised questions about the attacker’s intentions.
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