OKX announces delisting of 26 trading pairs

Netmarble F&C, a subsidiary of South Korean game developer Netmarble, has taken action to lay off employees by notifying all 70 workers under its Metaverse World project to resign, according to industry sources on Friday (KST). Metaverse World, which had begun developing an IP-based metaverse platform, will be abandoned during an upcoming corporate reorganization process. Photo by julien Tromeur on UnsplashA brief journey from ambition to abandonmentMetaverse World was launched by Netmarble in 2022 by acquiring blockchain gaming platform ITAM Games and Web3 wallet developer Bono Technologies. It had been scheduled to hold a closed beta test last year, but no news of the development has resurfaced since then.  However, it was revealed today that the project will be abandoned during the corporate reorganization process. "We have been looking for a sustainable direction to take the project, but business conditions and market changes have pushed us to make the difficult decision to terminate the Metaverse World corporation, which was developing a metaverse platform,” a representative from the company disclosed. Fluctuating trendsThe metaverse first gained traction during the COVID-19 pandemic, when gatherings were limited to online spaces. Since then, the industry and other related technologies like Web3, blockchain and NFTs also garnered significant attention, with various companies snagging investments to fund their projects. However, as the attention of tech and investment firms has shifted to AI, these companies have increasingly found themselves in difficult positions. Last September, Com2Verse, the metaverse arm of content provider Com2uS Holdings', also began streamlining its workforce, organizing voluntary retirement and transition arrangements for its employees.

Chinese authorities have apprehended an individual suspected of identity forgery in connection with the StarkNet (STRK) airdrop. The suspect, identified as Lan Mou, allegedly assumed the identities of others to submit false Early Community Member Program (ECMP) airdrop forms. Through this scheme, the suspect claimed over 40,000 STRK tokens that originally belonged to the victims. After successfully claiming the tokens, the suspect transferred them to an OKX wallet. Subsequently, the tokens were converted into over $91,000 worth of Tether, as reported by local media on April 30. Lan Mou was apprehended by police in Guangdong Province on April 25. Authorities seized a computer and two mobile phones during the arrest.Photo by Tamara Gak on UnsplashUnprecedented scale of identity theftWhile cryptocurrency scams and phishing attacks are prevalent, the scale of identity theft observed in this case is unprecedented. The suspect's method involved claiming airdrops using stolen identities, marking a novel approach to fraudulent activity in the cryptocurrency space. A crypto airdrop is a method used to distribute new cryptocurrency tokens, typically targeting early users who engage with a specific protocol. In the case of the StarkNet Foundation's airdrop, which launched on Feb. 20, a total of 700 million STRK tokens were distributed to various participants, including Ethereum solo and liquid stakers, Starknet developers, users, external projects and developers within the Web3 ecosystem. Concerns raised by developerFollowing the StarkNet airdrop, concerns were raised by pseudonymous Yearn.finance developer Banteg regarding the eligibility criteria. Banteg warned that the eligibility list mainly consisted of airdrop squatters, individuals who exploit airdrop opportunities for financial gain. These individuals often control multiple addresses to maximize their rewards. This incident is not the first instance of airdrop exploitation. In March 2023, it was revealed that airdrop hunters consolidated $3.3 million worth of tokens from the Arbitrum (ARB) airdrop into just two wallets, highlighting the prevalence of such fraudulent activities within the cryptocurrency community. 

NATIX Network, an open geospatial intelligence network built upon proprietary AI technology, has partnered with Southeast Asian superapp Grab to collaborate on autonomous driving technology and mapping. NATIX is a decentralized physical infrastructure network (DePIN) project that exists within the Solana ecosystem. Singapore-headquartered Grab offers a broad range of services via its app, including ride-hailing, package delivery and food delivery. Additionally, the firm offers mobile payments and insurance products.Photo by Afif Ramdhasuma on UnsplashReshaping the mapping industryIn a blog post published to its website on May 6, NATIX outlined that the strategic partnership has been formed with a view towards reshaping the mapping industry. It explained that the objective in this regard would be to combine Grab’s camera hardware and its AI-based map-making software stack with NATIX’s decentralized blockchain-powered mapping data.  Due to the nature of the services that it has offered in Southeast Asia since it was founded in 2012, Grab has, through necessity, become involved in mapping to enhance its service delivery. As a consequence, it has developed a suite of cameras including its KartaCam, a small action camera which can be mounted on bike helmets or car windshields, and a 360-degree standalone camera, KartaCam 2, with built-in sensors, AI image optimization and GPS capabilities. ‘Internet of Cameras’For its part, NATIX claims to have built the world’s largest on-street camera network. As part of the collaboration, NATIX will use Grab’s hardware and software technology to expand its “Internet of Cameras.” Posting on LinkedIn, GrabMaps set out its thoughts on the partnership, stating:”By combining GrabMaps' AI-powered mapping technology with NATIX's decentralised data network, we're enabling real-time, high-fidelity map updates across the globe. As part of this collaboration, NATIX will launch VX360, a device built on Grab's hardware platform that allows Tesla drivers to collect and share 360° vehicle imagery.” Appearing on the Unleashing DePIN podcast recently, NATIX Co-Founder and CEO Alireza Ghods outlined that NATIX will launch VX360, a proprietary device built by leveraging Grab’s existing hardware. He explained that this collaboration saves NATIX in terms of overall project cost and months of R&D, all of which enables it to get to market faster.VX360 enables Tesla drivers to capture and share 360-degree imagery.  Future potentialGhods spoke to the additional future potential that the collaboration holds: “The interesting part is that they have other types of devices as well, they have a dashcam, a 360 camera, and our plan is to definitely integrate all of this into our map making and data collection pipeline.” This is not the first partnership that GrabMaps has established related to mapping. Previously it formed collaborations with Microsoft’s Bing Maps, navigation and mapping app Mappls and location data specialist Loqate.  Ghods believes that NATIX can go one better than centralized mapping projects like TomTom and Google Street View. He told Cointelegraph that “a blockchain-based incentivization system provides better results in terms of frequency, participation, and coverage.” The NATIX co-founder asserted that such data can be gathered at a fraction of the cost via users’ devices.