In Cambodia, thousands of workers were lured from Asian countries via fraudulent social media ads before being held captive. The online scams range from pig butchering and gambling to fake ICOs and fraudulent crypto trading sites. Gangs reportedly sell slaves in exchange for the stablecoin while scammers are told to encourage their victims to deposit Tether as it is “untraceable.” It calls for a “holistic approach” to the problem that includes banks and crypto exchanges cooperating in line with international human rights to stop traffickers from converting their illicit crypto into fiat.īloomberg detailed how these online scams rely on crypto, specifically Tether, as payment. Hundreds of thousands of people are being trafficked by organized criminal gangs and made to carry out crypto scams and online fraud, a United Nations (UN) report claims.Īccording to the report, these same people are suffering myriad human rights abuses, including sexual violence and forced labor.Īs part of its findings, the organization recommends that governments in Southeast Asia enact a human rights response to the growing scale of online scam-related trafficking. Reddit Community Tokens Rocket as Rule Change Speculation Boosts MOON, BRICKĪ new UN report shows people in Southeast Asia are increasingly being forced by criminal gangs to act as crypto scammers. #crypto #cryptoexchange #cryptocompliance #cryptoregulation #eth #ethereum #bitcoin #btc The comment has raised hopes for an eventual listing of the Moons token on the Kraken exchange and may have contributed to the token's price surge. Users of the r/CryptoCurrency subreddit responded positively to the terms of change post, with cryptocurrency exchange Kraken thanking the subreddit for providing updates about the change in terms of service.Ī member of Kraken Digital Asset Exchange added that the exchange is "always open to adding new digital assets. Then trade the CPs on an Arbitrum Nova DEX," ONG said in a tweet thread. "It's easy to send CPs to other Reddit users from the app, but to trade them, one has to export the private key from the Reddit wallet and import it into a crypto wallet. Note that community points have always been tradable, but it's troublesome to trade those through the Reddit app, per ONG. This has resulted in MOON and BRICK tokens increasing by over 100% in value this week," Ong told CoinDesk. No firm changes have been announced for Reddit's Community Points yet, but the community is speculating that Reddit will give more attention to the Community Points. The change also goes alongside the removal of Reddit's non-tokenized Coins and Awards. "Reddit's Terms of Service recently changed where it now explicitly allows for trading Reddit's tokenized Community Points. Per CoinGecko co-founder and COO, Booby Ong, the speculation about impending changes to Reddit has driven the two tokens higher. Over the weekend, a trending post in the r/CryptoCurrency subreddit said Reddit's terms of service have changed, allowing the trading of verified virtual goods like avatars and Reddit's community points. 🧱 The Bricks (BRICK) token, distributed as a reward for contributions in the r/Fortnite subreddit, has surged 300% in two days. The tokens can also be stored in Reddit's Ethereum-based wallet, called Vault. The coins can be freely traded, tipped, or spent in the community for different purposes. Moons are ERC-20 tokens distributed as rewards to users for their posts or comments in the r/CryptoCurrency subreddit. The cryptocurrency is listed on SushiSwap, Gate.io and MEXC. MOON's price has surged 170% to almost 25 cents from 9 cents, according to data tracked by Coingecko.
One analyst cited Reddit's recent change in terms of service as possible reason for the impressive price rally. Moons (MOON), the native token of Reddit's r/CryptoCurrency community of over 6.5 million users, has chalked up a triple-digit price gain this week. and Fortnite related crypto tokens increase over 100% in one week.
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