According to police sources, the fraudsters used online payment platforms such as PhonePe and Paytm to collect funds. The money was then converted into USDT (US Dollar Tokens) via Chinese crypto exchanges, including Binance, before being transferred to undisclosed international accounts.
WARP Chain is specifically tailored to address game developers' challenges when incorporating blockchain elements into their projects. The platform offers a suite of tools, including Web3 software development kits (SDKs), AI-driven tokenomics, and publishing support to streamline blockchain adoption.
Despite the turbulence, venture capital (VC) firms have continued to invest heavily in blockchain and crypto startups, particularly in areas such as decentralized physical infrastructure networks (DePINs), Web3 gaming, real-world asset (RWA) tokenization, and derivatives markets.
The announcement triggered a significant rally in the crypto market. XRP spiked 32% to approximately $2.80, while ADA and SOL rose over 20%, crossing the $1 and $160 marks, respectively. BTC saw a 6% increase, trading above $91,000, and ETH climbed nearly 10% to $2,400.
The White House will host its first-ever Crypto Summit on Friday, March 7, an event expected to shape the future of cryptocurrency policy in the United States. The summit is
