Unlock Blockchain Gaming: Binance Launches GUN Token on Launchpool

Binance Launches New Blockchain Gaming Token via Launchpool

Binance, one of the largest global cryptocurrency exchanges, has announced the listing of a new blockchain gaming token, GUN, through its Launchpool platform. The GUN token is the native asset of the GUNZ blockchain, developed by Gunzilla Games. This blockchain supports Gunzilla’s AAA web3 gaming projects, including the games "Off The Grid" and "Technocore."

Between March 28th and 31st, Binance users can stake Binance Coin (BNB), First Digital USD (FDUSD), or USDC to receive GUN airdrops. The token will officially be listed on Binance on March 31st, with a "seed tag" indicating its lower liquidity and higher volatility compared to other tokens. Binance also requires users trading seed-tagged assets to complete quizzes every 90 days to ensure they understand the associated risks.

"Originally created to support a community-driven economy for Gunzilla’s flagship title, Off The Grid (OTG), GUNZ has evolved into a full-featured platform offering blockchain-native infrastructure essential for modern game development," states the GUNZ whitepaper.

This initiative highlights Binance's continued efforts to support innovative blockchain projects and expand its offerings in the gaming sector.

Key Takeaways:

Binance Launchpool introduces GUN, the token for the GUNZ blockchain.
Users can stake BNB, FDUSD, or USDC to earn GUN airdrops from March 28th to 31st.
The token will be listed on Binance on March 31st with a "seed tag" for lower liquidity projects.

Thailand SEC Sues OKX for Unlicensed Crypto Trading

The Securities and Exchange Commission (SEC) of Thailand has filed a criminal complaint against OKX, accusing the exchange of operating without a license since 2021. The complaint also names nine individuals allegedly involved in promoting OKX’s services in Thailand. The SEC claims that OKX actively advertised its platform on social media channels such as Telegram, X, and Line OpenChat, while charging a 0.1% trading fee similar to licensed exchanges.

The case has been handed over to the Economic Crime Suppression Division (ECD) for further investigation. If found guilty, OKX and the individuals involved could face severe penalties under Thailand’s digital asset laws. The SEC has also issued a warning to investors about the risks of using unregulated crypto platforms, emphasizing the lack of security guarantees and potential for financial losses.

This legal action underscores the increasing regulatory scrutiny on cryptocurrency exchanges worldwide, as governments aim to tighten control over the rapidly growing sector.

Key Takeaways:

Thailand SEC accuses OKX of unlicensed operations since 2021.
OKX allegedly promoted its services on social media and charged trading fees.
Investors are warned about the risks of using unregulated platforms.

Bybit Hack Exposes Security Flaws in Centralized Exchanges

A recent hack targeting Bybit, one of the largest centralized cryptocurrency exchanges, resulted in the loss of $1.5 billion in crypto assets. This breach, which affected Bybit’s cold storage, highlights the vulnerabilities of centralized exchange systems. Despite implementing strict security measures, centralized platforms remain attractive targets for hackers due to their single points of failure.

Experts suggest that decentralized finance (DeFi) platforms, which rely on smart contracts and cryptographic security, offer a more secure alternative. However, DeFi is not without risks, as poorly written code can lead to vulnerabilities. The incident has reignited discussions about the need for advanced security measures, including the use of artificial intelligence for vulnerability detection and enhanced user-controlled wallet systems.

"Without significant upgrades to security infrastructure, the risks posed to centralized exchanges will only continue to grow," stated Michael Egorov, founder of Curve Finance.

This event serves as a wake-up call for the crypto industry to prioritize security and explore innovative solutions to protect user assets.

Key Takeaways:

Bybit hack results in $1.5 billion in losses, the largest in crypto history.
Centralized exchanges face systemic security risks due to single points of failure.
DeFi platforms and AI-driven security measures are potential solutions to mitigate risks.

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