Musk Faces Ire Over XRP Account Suspension, Dubai Art Gallery To Educate Artists On NFTs, Web 3.0

Here are some of the major crypto developments from the world of crypto over the past few days
Musk Faces Ire Over XRP Account Suspension, Dubai Art Gallery To Educate Artists On NFTs, Web 3.0
Musk Faces Ire Over XRP Account Suspension, Dubai Art Gallery To Educate Artists On NFTs, Web 3.0

Elon Musk, the executive chair and CTO of X (previously Twitter), has come under fire for the suspension of an account with an XRP connection.

Crypto Eri, a well-known member of the cryptocurrency community personally contacted Elon Musk on X to ask whether the account was banned by mistake. The in-question account, Digital Asset Investor.XRP, was noted for its vociferous support of XRP, the cryptocurrency that makes up the XRP Ledger platform.  

XRP has been the subject of numerous debates and legal battles over the years, most notably a lawsuit brought by the US Securities and Exchange Commission (SEC), which has alleged that XRP is an unregistered security. However, XRP has maintained a devoted following of backers who are upbeat about its prospects.

XRP supporters might share ideas and viewpoints and take part in discussions concerning cryptocurrencies on Digital Asset Investor.

Dubai Art Gallery To Educate Artists On NFTs, Web 3.0

The 37xDubai Art Gallery, which will be open to the public later in October, aims to educate artists and art enthusiasts on non-fungible tokens (NFTs) and the larger Web 3.0 ecosystem.

Danilo Carlucci, the founder of the Dubai International Financial Centre (DIFC)-based investment company Morningstar Ventures discussed the objectives of the new art gallery and the reasons behind its foray into NFTs and Web 3.0 despite the state of the markets at the time.

The gallery, in the words of Carlucci, is “an effort to bridge art and technology in one place”. He added that the gallery is using NFTs based on the Tree of Life art display as its membership token.

He further said that the art gallery is Morningstar Venture’s method of diversifying into the more imaginative digital art and NFT space because it is a more conventional venture capital firm.

Galxe Protocol Experiences DNS Attack, Losses Top $150K And Still Growing

The Web 3.0 community platform Galxe’s website was down for nearly an hour on October 6, 2023 following a purported domain name system (DNS) attack, which reportedly led to a loss of $150,000.

Though the website has been restored, but the company has still issued a warning against using it. The hack may be linked to the September attack on Balancer.  

UTC, Galxe posted on X (previously Twitter) that its website was offline. Forty minutes later, it confirmed that a security breach affecting its DNS record had occurred. It issued a warning not to access the domain until the problem was fixed. Galxe had not formally declared that their website was once again secure.

Some commenters claimed on X that Google had disabled the website after it was restored.

ZachXBT, a crypto investigator, said that money was being taken from Galxe. Following the restoration of the Galxe website, the wallet ZachXBT associated with the exploit continued to amass cash and was, according to DeBank, hovering around $160,000 at 17:15 UTC.

ZachXBT proposed a connection between the Galxe exploiter and the group responsible for the September 19, 2023 attack on the Balancer protocol. In the past month, Balancer has experienced a second attack.

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