Central Africa Tokenize Natural Resources, NY AG Warn Crypto Investor, BAYC Discord Hack, and more.

ENEDEX DeBrief — Week 1, June 2022

Welcome to the third iteration of ENEDEX Debrief, where we recap 5 major news in the crypto and blockchain industry in bite size by the end of each week. Let’s get to it!

  1. Central African Republic to tokenize the nation’s natural resources

The Central African Republic (CAR) has announced plans to proceed with its ambitious Sango Project by tokenizing access to the country’s abundant natural resources. President Faustin-Archange Touadéra posted a photograph of a statement on his official Twitter account Thursday detailing the next steps in the project.

The statement, signed by Minister of State and cabinet chief of staff Obed Namsio, read, in part:

“We are giving everyone access to the riches of our land. In other words, we are transforming them into equally valuable and important digital assets through an unprecedented new administrative and economic movement.”

Do you think this will ends well? Let us know on what you think on the comment

2. Kenyan energy company entices Bitcoin miners with geothermal power

Kenyan energy company KenGen has put out a call to Bitcoin (BTC) miners to move nearby and buy its excess renewable power capacity.

KenGen claims 86% of its energy is generated from renewable sources, mostly geothermal from pockets of ground source heat in the Great Rift Valley. Local news outlet The Standard reported that KenGen has space at its new industrial park in Olkaria, near its flagship geothermal power station, which could be rented to Bitcoin miners.

From one volcano to another, now that’s bitcoin for ya!

3. New York State Senate passes Bitcoin mining moratorium
The New York State Senate approved a controversial proof-of-work (PoW) mining ban bill that would prohibit any new Bitcoin (BTC) mining operations in the state.

The PoW mining ban bill was first passed by the state assembly in April. It aims to prohibit any new mining operations in the state for the next two years. Now, the bill is headed for the governor’s office, which, once approved, would make New York the first state in the United States to place a moratorium on cryptocurrency mining.

They’ll just move anyway, it’s their loss

4. New York AG warns against crypto investments amid state push to ban mining

As New York pursues efforts to ban proof-of-work (PoW) crypto mining, the attorney general reminded investors of the risks associated with investing in crypto.
In an investor alert published Thursday, New York Attorney General Letitia James said that investors are “losing billions” in crypto. James highlighted that even digital assets that are well-known and traded in reputable exchanges can crash. Because of this, the attorney general is convinced that crypto investments create “more pain than gain” for investors.

I guess the AG is anti WAGMI

5. Yuga Labs’ BAYC, OtherSide Discord groups breached, over 145 ETH stolen

Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing.

According to OKHotshot’s investigations, the attack was conducted by hacking into the Discord account of Boris Vagner, community and social manager for Yuga Labs. After gaining unrestricted access to the employee’s account, scammers shared various phishing links from Vagner’s Discord account into the official BAYC, Mutant Ape Yacht Club (MAYC) and Otherside groups.

That’s why you shouldn’t click links from strangers

Those are 5 notable news on the cryptoverse this week! Anything that we missed?

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