Crypto News of the Day: MakerDAO tightening up security and Some Crypto Scams Busted

🛡️ MakerDAO proposes new security feature in light of recent exposure

Yesterday, we talked about how a software developer exposed a potential multi-million dollar hack on the MakerDAO (MKR) contract in a blog post

Since then, the Maker Foundation has introduced a new security proposal to set a 24-hour governance delay on new executive contracts.

If the proposal goes through, the Governance Security Module delay will increase from 0 to 24 hours.

🛑 3 Men Arrested for Defrauding $722 Million through Ponzi Scheme

The US Department of Justice (DOJ) has arrested 3 men in relation to alleged Ponzi Scheme BitClub Network.

“Today’s indictment alleges the defendants were involved in a sophisticated Ponzi scheme involving hundreds of millions of dollars that preyed upon investors all over the world,” - a press release by the DOJ stated.

BitClub Network promised massive rates of return in exchange for investments in a shared cryptocurrency mining pool.

The arrested suspects has misappropriated over $722 million of those funds into their own lavish living rather than the promised mining pool.

👮 Alleged Bitcoin scam that raised $359M busted by Brazilian police

Police in Brazil have busted a purported Bitcoin investment scheme that allegedly stole $359 million (1.5 million ARS) from victims.

According to a statement issued by the Paraná state government, state police shut down the unnamed operation and arrested nine people.

The scheme promised victim a daily return of investment of 3-4%, after which they informed all investors that payments will not be made for "the next 6 months"

Suspects are being charged with fraud, money laundering, criminal association, and forgery.

In today's market... Steem price continues to gain - with a +11% increase today Cosmos Atom price is up +4.4% Luna token price is up +3.8%