All-in-one Web3 hub for everyday crypto use

Source: Atlantis Lab. Young discusses the inspiration behind Atlantis (live screen on right).

Atlantis Lab has launched Atlantis, a user-friendly unified Web 3 access hub that centralises decentralised apps.

Developed and incubated within crypto education community CryptoKnight Academy, Atlantis is built to address one of the most persistent challenges in retail crypto participation globally: fragmentation. 

Across surveys, coaching sessions and live classes at CryptoKnight Academy, the institution received consistent feedback that users were juggling too many tools, struggling with visibility of their portfolio, and making avoidable mistakes because of unfamiliarity with each platform.

“Most people do not lose money in crypto because they are careless or reckless. They lose money because the tools are fragmented, confusing, and easy to get wrong,” said Zachary Young, Founder of Atlantis Lab and CEO of CryptoKnight Academy.

“Atlantis was created to change that experience. We centralise the interface, not the assets, so users can rely on one clear control panel for Web 3 while their funds stay in their own wallets and on decentralised protocols, where they belong.”

The typical user hops between wallets, exchanges, portfolio trackers and analytics sites just to understand their overall positions, Young explained. With multiple interfaces and workflows to manage, every additional interface and unfamiliar workflow increases the likelihood of errors, incorrect transfers and exposure to unsafe links.

Atlantis consolidates these actions into a single web-based hub that lets any crypto owner track, manage, and interact with their investments across multiple wallets and exchanges. The launch release, free and open to anyone worldwide, allows users to:

• View their overall holdings through a cross-chain portfolio tracker

• Explore and monitor the top 100 coins and conduct basic research – users can search for any coin that’s not in the top 100 as well

• Send funds directly from their connected wallets - up to 10 are supported currently

• Swap tokens using the best rates

• Bridge assets (move assets from one chain to another) across supported chains

Atlantis operates as a non-custodial access layer - it does not hold, pool or manage user funds. As such, private keys or seed phrases are not requested, and it does not operate order books or act as a trading counterparty. Users interact directly with established protocols and services, while Atlantis focuses on delivering a stable, intuitive front-end experience and making sure "everything you need is inside".

“In environments where users are increasingly cautious, innovation has to lower risk rather than add to it,” said Young.

“That is why Atlantis is built with self-custody as the default, a deliberately simple interface, and education integrated into the ecosystem. We want complete beginners to understand what they are doing and feel confident taking basic actions, rather than feeling overwhelmed or exposed.”

Atlantis was inspired by years of behavioural insight drawn from more than 40,000 individuals, including students, investors and entrepreneurs who have learned how to navigate crypto through CryptoKnight Academy’s programmes, then enhanced by trainers and coaches. 

“We took the student journey ,and tools required and compiled them into one platform and had our developers build it. And then we got feedback from our trainers and coaches to improve the UI/UX to make it more user friendly for crypto beginners. Our trainers and coaches are in the thick of things teaching the students how and which tools to use so this combination is the most powerful,” Young noted.

Key design principles include:

• Self-custody by default, with no control over user funds or credentials

• Safety through simplification, reducing confusion and operational risk

• Integration with education, reinforcing informed decision-making and good user habits

The platform connects to multiple popular decentralised providers for data, connectivity and transaction routing, reducing reliance on any single service and supporting a more resilient user experience. "We are not aiming to be the fastest and the best. Our aim is to be the easiest and the simplest," noted Young, emphasising that the aim is to build a flexible ecosystem.

In future phases, Atlantis will feature broader chain and protocol support, a smoother mobile experience and smarter insights layered on top of the existing tools.

Each phase will follow the same principle that shaped the launch version of Atlantis: reducing complexity, minimising user risk and making Web3 intuitive for mainstream users, wherever they are, Atlantis Lab said.

"Atlantis is for everyone, it's a global thing," said Young at the launch. He also stressed that the platform is self-funded.

"We will not collect money for it," he said. 

Founded in Singapore in 2017, CryptoKnight Academy’s mission is to make crypto profitable, simple and practical for everyday users by combining education, risk awareness and real-world application.

Atlantis Lab is a Web3 venture focused on building products that make crypto simpler, safer and more intuitive for everyday users. Its flagship platform is Atlantis.

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Try out Atlantis at enteratlantis.com

Crypto giveaway scams are on the rise

Source: Group-IB. A screen capture from a fake YouTube video purporting to feature Elon Musk.

Group-IB, a Singapore-headquartered cybersecurity provider, has found a fivefold increase in the number of domains used for crypto giveaway scams that involve fake YouTube streams in 1H22. Since Group-IB’s first report on the scheme, crypto giveaway scams evolved into a market segment with multiple services for fraudulent operations.

According to Group-IB, 63% of the new fraudulent domain names were registered with Russian registrars, but the fake websites are primarily designed to target English and Spanish-speaking crypto investors.

For the first time, the Group-IB Computer Emergency Response Team (CERT-GIB) observed a sharp increase in the number of fraudulent YouTube streams “featuring” big names. Videos purporting to be from Elon Musk, the founder and CEO of SpaceX and Tesla; Brad Garlinghouse, CEO of Ripple Labs; MicroStrategy's co-founder and Executive Chairman Michael J. Saylor, as well as Cathie Wood, the founder and CEO of Ark Invest were found in February this year. 

The scammers used the footage of famous entrepreneurs and crypto enthusiasts to encourage users to visit a promotional website to double their crypto investment. Victims would be invited to transfer crypto to a specified address or disclose the seed phrase of their crypto wallet to receive even better terms.

Group-IB experts have discovered that the scheme has scaled significantly in six months. In 1H22, CERT-GIB identified more than 2,000 domains registered explicitly to be used as fake promotion websites. This figure increased almost five-fold compared to 2H21 and 53-fold in comparison with 1H21. In Q122 Group-IB researchers discovered 583 fake websites involved in the scheme. The next quarter the Group-IB team found an additional 1,500-plus domains newly set up by scammers to promote fake giveaways.

Scammers also advertised promo sites featuring Nayib Bukele, the President of Salvador, as well as the soccer player Cristiano Ronaldo. Both names were chosen for a reason, Group-IB said. In 2021, mainly on the initiative of its president, El Salvador became the first country to adopt Bitcoin as its national currency. Ronaldo, on the other had, became the first football star paid with cryptocurrency: the player was awarded a bonus of 770 crypto tokens from his club Juventus, one for each goal scored in his career. In June 2022, Binance, a crypto trading platform, announced an exclusive partnership with Ronaldo.

Group-IB advises crypto owners to be vigilant about free giveaways and not to share confidential data on rogue websites. Other advice included:

- Double-check the legitimacy of the streams and the websites you visit using official sources only. If you cannot find any information about the promotion taking place, you are likely being deceived.

- Seed phrases must be kept secret and stored securely. To do so, use password management tools.

- To minimise the risk of leakage, prioritise desktop solutions over cloud-based ones.

- You risk being deceived twice if you have already transferred your crypto to fraudsters and want your money back. People who message victims on forums offering help often turn out to be scammers themselves.

Nigel Green, deVere CEO: Bitcoin is better than gold

The Bitcoin rally stalled on heightening global worries about inflation, but, says the CEO of a financial advisory, asset management and fintech firms, it remains “a better shield than gold.” 

Nigel Green, founder and CEO of deVere said: “Bitcoin is perceived by many investors as a hedge against inflation due largely to its strict supply controls. 

“As such, it would be assumed that its price would automatically rise when the US central bank suggests that it would consider speeding up the reduction of its asset purchase policies that have boosted the stock markets. 

“But for other investors, including some major institutional investors who have piled into Bitcoin in recent months, the cryptocurrency is still perceived as a risky asset. 

“So when they sell-off riskier assets, despite the longer-term outlook and based on short-term hawkish policies from the world’s de facto central bank, Bitcoin, like equities, also becomes vulnerable.” 

On gold Green said: “Gold has always been regarded as the ultimate inflation hedge – but the world is a much different place now. Our lives and the global economy is increasingly run on tech and digital solutions and this megatrend is only set to become more dominant. 

“Gold is likely to be dethroned within a generation as millennials and younger investors, who are so-called ‘digital natives’, are going to be more comfortable with Bitcoin as a hedge than a physical metal,” he said.

According to Green, Bitcoin is also superior to gold as a medium of exchange or form of payment. 

“Unlike gold, it is a fixed unit of account and easily divisible and transportable. Gold is not easily immediately divisible, and there are potential issues with purity and verification. Whereas Bitcoin is easily traced on blockchain technology and this is going to be a considerable advantage, especially in cross-border transactions,” he pointed out. 

Green recommended that portfolios feature gold complementing Bitcoin. “But as the world continues to pick up momentum in its shift towards tech, and as millennials become a more dominant part of the world economy, we should expect Bitcoin to also take an increasingly influential role in financial markets, including in regards to being an inflation hedge,” he concluded.

Investors show confidence in crypto investment platform CoinMENA

Bahrain-headquartered CoinMENA has secured US$9.5M in its first seed funding round from investors such as BECO Capital, Kenetic, Arab Bank Switzerland, Bunat Ventures, Alameda Research, Rua Growth Fund and Girnas Capital.

Launched in early 2021 by Dina Saman, Talal Tabbaa, and Yazan Barghuthi, CoinMENA was built primarily to address a market gap that existed for easy and safe access to crypto investing. The onshore crypto exchange is licensed by the Central Bank of Bahrain, and has inked an agreement with the Dubai World Trade Centre to build the next Blockchain and crypto hub in the UAE.

CoinMENA's co-founders said, "With growing awareness about crypto assets and their transformative potential, appetite from both retail and institutional investors in the MENA region is growing at a rapid pace. Our strategic capital partnerships provide support for our vision to increase the adoption of crypto assets in the region in a regulated and seamless manner. We believe that this is a positive outlook for the crypto assets sector over the coming years both locally and globally."

Dany Farha, Co-Founder and Managing Partner of BECO Capital, stated, "We had been searching for a while for the combination of the strength of the team and depth of vision that the team at CoinMENA set out to build. We are very excited to partner with this stellar team in delivering financial inclusion, investing, and saving in a crypto native manner, in a hyper-local manner, all whilst being regulated and adhering to the highest levels of governance and compliance for all stakeholders."

Rani Jabban, MD, Arab Bank Switzerland, the sister company of Arab Bank, commented, "As a pioneering bank in digital assets with a strong foothold in the Middle East, we believe that our strategic partnership with CoinMENA will pave the way forward for greater adoption in the region."

Jehan Chu, Founder of Kenetic, said, "CoinMENA is positioned for explosive growth, and Kenetic is excited to lend our extensive experience and deep network to support them as they provide superior crypto liquidity and user experience in a new era of digital finance throughout the MENA region."

CoinMENA's investor BECO Capital is a technology-focused venture capital whose investments include MENA's three unicorns: Swvl, Kitopi, and Careem. Hong Kong's Kenetic is known for its investment in BlockFi, a crypto lending platform, and Securitize, a digital asset securities firm. Bunat Ventures is a venture builder and venture capitalist (VC) firm focused on incubating and investing in promising regional startups. Alameda Research, owned by crypto billionaire Sam-Bankman Fried, is a quantitative cryptocurrency trading firm that provides liquidity in cryptocurrency and digital assets markets.

CoinMENA's sign-up process can be done on its mobile app. The exchange's services are currently available to residents of Bahrain, UAE, KSA, Kuwait, and Oman.

BTSE Debit Card aims to open up global access to funds

Source: BTSE. The BTSE Debit Card.

A new crypto debit card accepted at over 53 million MasterCard merchants worldwide and compatible with more than 1 million ATMs around the world has launched. The BTSE Debit Card is fundable with multiple fiat and cryptocurrencies, and does not need to be linked to a bank account.

BTSE is a fintech company that empowers individuals to take control of their financial freedom. Its crypto debit card will enable balances to be stored in four stablecoins, including Tether (USDT), USD Coin (USDC), TrueUSD (TUSD) and Digital Chinese Yuan (DC), as well as eight fiat currencies, including Euros, British pounds, HK$, A$, S$, C$, Japanese yen and US$.

Highlights of the card include:

- Withdrawing up to US$5,000 a day at over one million ATMs around the world.

- A spending limit of up to US$250,000 a month.

- Usable everywhere MasterCard is accepted

- Accumulate points with purchases. The points can be exchanged for rewards in BTSE’s upcoming rewards shop.

BTSE has also announced a membership programme to enhance the features of the card further. BTSE Elite membership starts at US$9.99 per month and will include a free debit card upon signup.
Limited personal information is collected during signup to protect card users.

Jonathan Leong, Co-Founder and CEO of BTSE said, “With the BTSE Debit Card, we set out to solve issues that repeatedly arise with a large percentage of people, crypto and fiat holders alike that face obstacles when attempting to access their funds globally – obstacles that I see as unjustified.”

“The card offers users a globally-accepted payment option with high limits, a rewards programme, and support for multiple fiat and crypto funding options, all without the need for a bank account. Additionally, the card will only convert assets upon use, thereby allowing users to maximise their crypto asset value and appreciation.”

BTSE recently became a member of the Liquid Network – a global, collaborative effort to increase financial movements across exchanges and reduce reliance on traditional currencies.

Details:

The BTSE Debit Card costs $14.99.

The physical card is officially set to launch in May. Preregister for a card