An unidentified NFT trader has lost more than 1,000 ETH, most of it via purchases of the much-hyped Moonbirds.

Moonbirds was launched in April last year by Kevin Rose’s Proof Collective and was supposed to build connections between NFT collectors. It was also planning to host an NFT conference, however, this has now been canceled.

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In the US, state and federal bail restrictions can differ wildly and, unless there’s some reason to believe that a charged individual will hurt themselves or others or flee before their trial, federal bail conditions are usually quite reasonable.

In the case of Sam Bankman-Fried, while he’s charged with the third largest corporate fraud in history (surpassed only by Bernie Madoff and Enron), he’s also never committed another crime, was relatively easily extradited from The Bahamas, and comes from a well-connected family at Stanford University.

Meanwhile, Avraham Eisenberg, the exploiter of the decentralized exchange Mango Markets, also faced bail hearings this month. Only, Eisenberg waived his right to bail entirely and went directly to jail.

So, why were their bail cases treated so differently? Protos reached out to several lawyers who spoke on background to provide some answers.

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Yuga Labs has nixed its Bored Ape Kennel Club logo after it was revealed that it plagiarised an image from a drawing guide called Easy Drawing Tutorial.

Yuga Labs co-founder, Greg Solano, seemingly dismissed the revelations as “claims'' despite the logo looking identical to the drawing in the guide by Rauno Tolonen.

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Sources familiar with the Securities and Exchange Commission’s lawsuit against Do Kwon have named Jump Crypto as the beneficiary of $1.28 billion dollars in profit from his decimated crypto empire, Terra Luna.

Do Kwon is facing civil charges in the US. The SEC alleges that he and his company, Terraform Labs, raised billions of dollars through unregistered securities. 

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The blockchain gaming industry had an impressive 2021. Play-to-earn, move-to-earn, NFT games, and prices for all sorts of blockchain entertainment were surging.

Of course, it was all just a flash in the pan. Within a few months, the bottom fell out of the market and both active users and market capitalizations cratered.

Now that much of the dust has settled, a new report by Delphi Digital examines the extent to which so-called Sybil attacks inflated growth metrics for blockchain gaming.

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The Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and Do Kwon alleging that they defrauded investors in a scheme involving multiple unregistered securities.

The SEC highlights claims by Terraform Labs and Do Kwon that Chai, a Korean payments application, used Terra. This was despite the payments actually being mirrored onto the blockchain and made using conventional means.

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Reuters has reported that Binance directed over $400 million to be transferred from Binance US's account at Silvergate bank to Merit Peak, a firm controlled by Changpeng Zhao. The transfers reportedly began in late 2020 and continued through the first three months of 2021.

Catherine Coley, the then CEO of Binance US, reportedly didn't understand the transfers.

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The director of a spoof movie based on the reimagined antics of pseudonymous bitcoin creator Satoshi Nakamoto has claimed that a group of ‘crypto hackers’ has anonymously threatened him and his wife.  

The director behind Decrypted, told the Daily Mail how the hackers sent him “unsettling” videos before the film’s US launch earlier this month. 

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