Today's Top Crypto Headlines:

Pavel Durov's Misfortune | ZachXBT Exposes ‘Pump and Dumps’ | USDT 10th Anniversary | Telegram NFT Conversion | LEGO After Hack and more...

Author

King Fatrick Gil Añasco
October 07, 2024

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Pavel Durov's Misfortune Following Arrest: Telegram founder Pavel Durov and his partner Juli Vavilova revealed the loss of their baby, which they attribute to the stress following Durov's arrest by French authorities over Telegram content moderation issues, including allegations related to child pornography.

  2. ZachXBT Exposes ‘Pump and Dumps’: Blockchain investigator ZachXBT accused crypto influencer Zion "Ansem" Thomas of promoting low-market cap memecoins for personal gain, leading to "pump and dump" schemes.

  3. 📈Technical Analysis Masterclass - Looking to trade another memecoin? Check out Moo Deng Coin (MOODENG), a meme coin making serious waves. Watch UseTheBitcoin’s latest Youtube video “Forget Dogecoin- MOODENG Is the New Meme Coin” to know why MOODENG is capturing global attention or join our Official Telegram Channel for more alpha!

  4. USDT 10th Anniversary: Tether celebrated its 10th anniversary by announcing a documentary highlighting USDT's role in combating inflation in countries like Brazil, Argentina, and Turkey.

  5. Telegram NFT Conversion: Telegram introduced a new "Gifts" feature, allowing users to send animated images with custom messages, which can later be converted into NFTs on TON blockchain.

  6. 💡Feature of the Day - LEGO After Hack: LEGO Group quickly removed a phishing scam from its homepage after hackers briefly promoted a fake "LEGO Coin."


    All this and more in today’s headlines!

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📰 News Highlights:

Pavel Durov's Misfortune [Source][Source]

Telegram founder Pavel Durov and his partner Juli Vavilova recently disclosed that Vavilova suffered a miscarriage, which they believe was triggered by the stress following Durov's arrest by French authorities.

Vavia’s

24.08.24 After landing in Paris, we were held at the airport for 3 hours. Police checked all our belongings and took our devices. Luckily I managed to call my mom before that so she wouldn’t worry. Then they let me and Mario (Pavel’s assistant) go, but kept Pavel in a police station. 25.08.24 Woke up disconnected from the world, no device, no idea what was happening. Mario and I stayed positive and went for breakfast, expecting Pavel to join us soon. Around 2pm, we bought new phones. Suddenly, we were hit with the news: Pavel could spend 20 years in prison. Bloggers blamed me for Pavel’s arrest, spreading conspiracy theories. The stress was indescribable. A panic attack kicked in. Everything came at once: Pavel’s arrest, lies and hate directed towards me. I had no access to my socials, phone, nothing. I couldn’t respond and just had to accept it all. For some reason, I felt I needed to take a pregnancy test. Mario said if this were a movie, I’d probably find out I’m pregnant. Sitting in a Parisian café, I took the test. The result was in French: “Enceinte 3+”. I ran back upstairs to translate. The shock on my face when it said “Pregnant.” I felt helpless, unable to run to Pavel with the happy news, as he was still unreachable. Police asked me to come for questioning. My doctor told me not to go. He said it was dangerous due to the early stage of pregnancy and the stress I was already under. (Spoiler: Four weeks after, I agreed to come and spent 3-4 hours answering questions). September Month of acceptance, focus on physical and mental health, supporting each other, seeing all the magical changes in my new body 🤰 It would have been easy to give up or go insane, but we embraced this new reality amidst the uncertainty. I never got my phone and laptops back. I was really enjoying magical Paris while being pregnant. In a few weeks I managed to restore access to my socials. And then, another twist 🎢 04.10.24 The doctor said the baby’s heart wasn’t beating anymore 💔 It’s hard to describe the pain. We got so used to the idea by then. It was the 10th week. 05.10.24 Surgery day. It was quick, with almost no physical pain. Now it’s time to heal 🕊 We managed to cope with so much at once. But it was too much for the little one.. 👼🏻

t.me/julivavilovaa/304

Vavilova revealed on Telegram that she learned of her pregnancy in late August but lost the baby in October, coinciding with the intense scrutiny and legal pressure from French officials.

Durov had been detained on charges related to content moderation issues on Telegram, including allegations of complicity in spreading child pornography.

Du Rove's Channel

#lifestories On the 27th of August 2024, I was still in the police station in Paris. It was my third day there. With no devices or internet access, it felt like an extreme digital detox. That day I was having my regular hours-long interview with the police. Between the questions, I asked my lawyer if my ❤️ Julia would come for questioning too. He said she was expected to, but couldn’t come. I pressed him on the reasons. “Got scared? Left Paris?”, I asked. He hesitated. “She’s pregnant,” he finally said. It was not the answer I expected at that moment. I remained calm throughout my time in police custody, but this turn of events caught me off guard. After a pause, I said: “Thank you for the good news”. Other people present — the translator, the clerk, the policeman — produced awkward smiles. I later learnt that the police didn’t know how to break the news of Julia’s pregnancy to me. The circumstances were not exactly celebratory. Julia was alone in a foreign country she’d never been to before. No one knew when I would be able to talk to her again. Luckily, I was released late in the evening the next day. As I entered the rooftop terrace of the place Julia was staying at, magnificent fireworks erupted right in front of me. Below, the opening ceremony of the Paralympics had just begun. But the mood was not festive. I learnt that while I was away, the pressure on Julia had been insane. Some blogger started a rumor that she was a “Mossad agent.” Other people came up with the nonsensical idea that it was her posts (and not my chartered flight details) that had prompted the police to welcome me at the airport. With her devices confiscated, she couldn’t access her accounts on Telegram and Instagram for weeks. Her going radio silent on social media provoked even more speculation. Cyber-bullying aimed at her kept reaching new highs. Julia stood strong. But, unlike me, she wasn’t used to hostility. She is not made for war. Two days ago, she was visiting the doctor who monitored her pregnancy. I was in the middle of my 12-hour work day when Julia sent me “😭😭😭” from the doctor’s office. I instantly knew what was wrong.

t.me/durov/351

French authorities had been pursuing Durov and his brother Nikolai for months prior to his arrest, which lasted four days before his release.

Despite the personal tragedy, the couple continues to face the aftermath of the charges.

ZachXBT Exposes ‘Pump and Dumps’ [Source][Source][Source][Source]

Blockchain investigator ZachXBT has accused crypto influencer Zion "Ansem" Thomas of promoting low-market cap memecoins for personal gain, driving prices up before selling off.

In a fiery exchange on X on October 5, ZachXBT claimed Thomas was responsible for pushing hundreds of these coins to his 507,000 followers, leading many to invest in "pump and dump" schemes.

These accusations stem from Thomas’ habit of frequently promoting small Solana-based tokens, which often skyrocket in value before crashing.

Thomas defended himself by highlighting his past successful calls, including the rise of Dogwifhat (WIF) from a $100,000 market cap to over $4.8 billion.

He also dismissed the criticism by claiming that memecoins are what retail traders want to buy, suggesting their high risk can bring outsized rewards compared to more stable assets like Chainlink.

ZachXBT, however, pointed out the significant losses in memecoins like BODEN, HOBBES, ZEUS, and WYNN, which are all down more than 98% from their peak values.

📈Technical Analysis Masterclass:

What is Moo Deng Coin?

  • Origins: MOODENG started as a fun homage to a viral baby pygmy hippo named Moo Deng, born in July at Thailand’s Khao Kheow Open Zoo. Her adorable videos went viral on social media, sparking interest worldwide.

  • Crypto Spin: Following Moo Deng’s internet fame, her charm inspired the creation of Moo Deng Coin, which quickly gained traction in the meme coin world.

Whale Investments Signal Big Potential

  • Major Whale Buy: Recently, a crypto whale purchased 2,000 SOL worth of MOODENG, equivalent to $311,000.

  • Total Investment: This whale has invested a total of 27,848 SOL ($4.34 million), making them the second-largest holder with 17.73 million MOODENG coins.

  • Impact: Whale investments often serve as a vote of confidence, attracting other investors and driving up the coin’s value.

Why It Matters

  • FOMO Effect: Big investments create a sense of urgency. As more people hear about large buys, they may jump in, fearing they’ll miss out on gains, leading to a surge in demand.

  • Potential for Growth: Like Dogecoin and Shiba Inu before it, MOODENG has the potential to turn from a meme coin into a serious market mover.

USDT 10th Anniversary [Source][Source]

As Tether marks its 10th anniversary, the stablecoin issuer announced plans to release a documentary highlighting USDT’s role in combating inflation.

In a teaser video, the company showcased interviews with users from high-inflation countries like Brazil, Argentina, and Turkey, emphasizing how Tether has become a lifeline for people struggling with local currency devaluation.

The documentary will dive into Tether’s origins, tracing its growth from its initial launch on the OmniLayer protocol to its current presence on major blockchains like Ethereum and Tron.

Tether CEO Paolo Ardoino has described the company as a symbol of financial inclusion, especially for underserved communities in developing nations.

Telegram NFT Conversion [Source][Source]

Telegram is expanding its ecosystem with a new "Gifts" feature, allowing users to send animated images with custom messages, which can later be converted into NFTs.

Announced on October 5, the platform teased that the limited-edition Gifts, once tokenized on The Open Network (TON) blockchain, will be tradable and auctionable outside Telegram.

Du Rove's Channel

🥳 The holiday season (which includes my birthday 😏) is just around the corner, and today we are launching Gifts! 🎁 Gifts are a great way to congratulate your loved ones on important events. Gift recipients can choose to display them on their profiles or sell them for Stars ⭐ 📦 Some gifts are in limited supply. Later this year we’ll introduce the ability to convert these limited-edition gifts into TON-based NFTs. Users will then be able to auction and trade these tokenized gifts outside Telegram, with ownership recorded on the blockchain 🔗 🔜 We also launched other exciting features today, which I’ll cover in a separate post. For now, I’ll let you dive into the gift selection process 🫴🙂

t.me/durov/348

This new capability is set to roll out by the end of 2024.

The Gifts feature builds on Telegram's in-app currency, Stars, launched earlier in the year. Stars can be used to purchase services and support creators within the platform.

💡 Feature of the Day: 

LEGO After Hack [Source][Source][Source]

Toy manufacturer LEGO Group swiftly removed a phishing scam from its homepage after hackers briefly promoted a fake "LEGO Coin" on October 5.

The fraudulent message, which promised buyers secret rewards, appeared for about 75 minutes before being taken down. The scam led users to a phishing site disguised as a legitimate purchase page for the fictitious token.

LEGO quickly addressed the breach, confirming that no user accounts were compromised and that measures were being implemented to prevent future incidents.

The company has not commented publicly on whether the hack was part of a larger targeted attack. The incident has renewed concerns over cyberattacks in the crypto space, which have been on the rise, with scammers stealing $127 million in Q3 2024 alone.

This isn’t LEGO’s first foray into the crypto space, having previously hinted at exploring NFTs in 2021. While the company hasn’t pursued digital collectibles since, its parent company KIRKBI did invest $1 billion into Epic Games for metaverse development in 2022, highlighting its interest in virtual spaces.

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Jonathan Gibson
UseTheBitcoin.com