The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately… The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately…

Tether hasn’t saved this OOB stock from a 99.9% YTD loss

2025/12/05 04:17
Okuma süresi: 4 dk

If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana.

Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks.

Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss.

Year-to-date chart of VCI Global. Source: TradingView

Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments.

VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares.

The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage.

That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB.

Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million.

The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.”

Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately exercisable warrants.

Tether’s PIPE gets the cheap price on OOB

Those 250 million tokens were favorably priced at $0.20 — 73% lower than their $0.73 high within a 48-hour period of that headline. 

Brazenly, the company claimed that this 250 million token transfer “paid” — with no actual cash transaction nor placement agent — for VCI Global’s entire $50 million Private Investment in Public Equity (PIPE).

On the other side of that deal, Tether Investment Limited received 39.8% of the PIPE shares. 

Straddling both sides of the deal, Tether is also a top investor in OOB, leading its Series A fundraise, alongside Solana co-founder Anatoly Yakavenko.

In other words, an entity agreeing to the pricing of the OOB tokens was the same entity receiving the majority of the PIPE shares.

Read more: Tether took over the White House, now it’s tearing it down to build a ballroom

This whole thing relies on Kraken keeping OOB up for trading

According to Cory Klippsten, a Tether critic who has been involved in litigation against the stablecoin giant, “This structure lets an effective change of control happen without triggering a 13D.”

Klippsten characterized the lack of VCI Global’s SEC Form 13D plus other factors “a possible material breach of SEC Rule 12b-20.”

Protos doesn’t have a view on that allegation, and only a US securities attorney could provide advice regarding those forms.

The timing, pricing, and catering of both sides of the deal to related parties is certainly interesting. Kraken and other exchanges like KCEX activated trading pairs of the OOB token within 48 hours of the November 10 VCI Global deal.

In fact, a substantial portion of the deal explicitly relies on Kraken’s OOB trading pair staying up and operational.

If Kraken suspends or withdraws its OOB listing within six months, VCI Global “shall have the right to rescind this agreement” by returning OOB and reversing the VCI Global shares issued.

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Source: https://protos.com/tether-hasnt-saved-this-oob-stock-from-a-99-9-ytd-loss/

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The Role of Blockchain in Building Safer Web3 Gaming Ecosystems

The Role of Blockchain in Building Safer Web3 Gaming Ecosystems

The gaming industry is in the midst of a historic shift, driven by the rise of Web3. Unlike traditional games, where developers and publishers control assets and dictate in-game economies, Web3 gaming empowers players with ownership and influence. Built on blockchain technology, these ecosystems are decentralized by design, enabling true digital asset ownership, transparent economies, and a future where players help shape the games they play. However, as Web3 gaming grows, security becomes a focal point. The range of security concerns, from hacking to asset theft to vulnerabilities in smart contracts, is a significant issue that will undermine or erode trust in this ecosystem, limiting or stopping adoption. Blockchain technology could be used to create security processes around secure, transparent, and fair Web3 gaming ecosystems. We will explore how security is increasing within gaming ecosystems, which challenges are being overcome, and what the future of security looks like. Why is Security Important in Web3 Gaming? Web3 gaming differs from traditional gaming in that players engage with both the game and assets with real value attached. Players own in-game assets that exist as tokens or NFTs (Non-Fungible Tokens), and can trade and sell them. These game assets usually represent significant financial value, meaning security failure could represent real monetary loss. In essence, without security, the promises of owning “something” in Web3, decentralized economies within games, and all that comes with the term “fair” gameplay can easily be eroded by fraud, hacking, and exploitation. This is precisely why the uniqueness of blockchain should be emphasized in securing Web3 gaming. How Blockchain Ensures Security in Web3 Gaming?
  1. Immutable Ownership of Assets Blockchain records can be manipulated by anyone. If a player owns a sword, skin, or plot of land as an NFT, it is verifiably in their ownership, and it cannot be altered or deleted by the developer or even hacked. This has created a proven track record of ownership, providing control back to the players, unlike any centralised gaming platform where assets can be revoked.
  2. Decentralized Infrastructure Blockchain networks also have a distributed architecture where game data is stored in a worldwide network of nodes, making them much less susceptible to centralised points of failure and attacks. This decentralised approach makes it exponentially more difficult to hijack systems or even shut off the game’s economy.
  3. Secure Transactions with Cryptography Whether a player buys an NFT or trades their in-game tokens for other items or tokens, the transactions are enforced by cryptographic algorithms, ensuring secure, verifiable, and irreversible transactions and eliminating the risks of double-spending or fraudulent trades.
  4. Smart Contract Automation Smart contracts automate the enforcement of game rules and players’ economic exchanges for the developer, eliminating the need for intermediaries or middlemen, and trust for the developer. For example, if a player completes a quest that promises a reward, the smart contract will execute and distribute what was promised.
  5. Anti-Cheating and Fair Gameplay The naturally transparent nature of blockchain makes it extremely simple for anyone to examine a specific instance of gameplay and verify the economic outcomes from that play. Furthermore, multi-player games that enforce smart contracts on things like loot sharing or win sharing can automate and measure trustlessness and avoid cheating, manipulations, and fraud by developers.
  6. Cross-Platform Security Many Web3 games feature asset interoperability across platforms. This interoperability is made viable by blockchain, which guarantees ownership is maintained whenever assets transition from one game or marketplace to another, thereby offering protection to players who rely on transfers for security against fraud. Key Security Dangers in Web3 Gaming Although blockchain provides sound first principles of security, the Web3 gaming ecosystem is susceptible to threats. Some of the most serious threats include:
Smart Contract Vulnerabilities: Smart contracts that are poorly written or lack auditing will leave openings for exploitation and thereby result in asset loss. Phishing Attacks: Unintentionally exposing or revealing private keys or signing transactions that are not possible to reverse, under the assumption they were genuine transaction requests. Bridge Hacks: Cross-chain bridges, which allow players to move their assets between their respective blockchains, continually face hacks, requiring vigilance from players and developers. Scams and Rug Pulls: Rug pulls occur when a game project raises money and leaves, leaving player assets worthless. Regulatory Ambiguity: Global regulations remain unclear; risks exist for players and developers alike. While blockchain alone won’t resolve every issue, it remediates the responsibility of the first principles, more so when joined by processes such as auditing, education, and the right governance, which can improve their contribution to the security landscapes in game ecosystems. Real Life Examples of Blockchain Security in Web3 Gaming Axie Infinity (Ronin Hack): The Axie Infinity game and several projects suffered one of the biggest hacks thus far on its Ronin bridge; however, it demonstrated the effectiveness of multi-sig security and the effective utilization of decentralization. The industry benefited through learning and reflection, thus, as projects have implemented changes to reduce the risks of future hacks or misappropriation. Immutable X: This Ethereum scaling solution aims to ensure secure NFT transactions for gaming, allowing players to trade an asset without the burden of exorbitant fees and fears of being a victim of fraud. Enjin: Enjin is providing a trusted infrastructure for Web3 games, offering secure NFT creation and transfer while reiterating that ownership and an asset securely belong to the player. These examples indubitably illustrate that despite challenges to overcome, blockchain remains the foundational layer on which to build more secure Web3 gaming environments. Benefits of Blockchain Security for Players and Developers For Players: Confidence in true ownership of assets Transparency in in-game economies Protection against nefarious trades/scams For Developers: More trust between players and the platform Less reliance on centralized infrastructure Ability to attract wealth and players based on provable fairness By incorporating blockchain security within the mechanics of game design, developers can create and enforce resilient ecosystems where players feel reassured in investing time, money, and ownership within virtual worlds. The Future of Secure Web3 Gaming Ecosystems As the wisdom of blockchain technology and industry knowledge improves, the future for secure Web3 gaming looks bright. New growing trends include: Zero-Knowledge Proofs (ZKPs): A new wave of protocols that enable private transactions and secure smart contracts while managing user privacy with an element of transparency. Decentralized Identity Solutions (DID): Helping players control their identities and decrease account theft risks. AI-Enhanced Security: Identifying irregularities in user interactions by sampling pattern anomalies to avert hacks and fraud by time-stamping critical events. Interoperable Security Standards: Allowing secured and seamless asset transfers across blockchains and games. With these innovations, blockchain will not only secure gaming assets but also enhance the overall trust and longevity of Web3 gaming ecosystems. Conclusion Blockchain is more than a buzzword in Web3; it is the only way to host security, fairness, and transparency. With blockchain, players confirm immutable ownership of digital assets, there is a decentralized infrastructure, and finally, it supports smart contracts to automate code that protects players and developers from the challenges of digital economies. The threats, vulnerabilities, and scams that come from smart contracts still persist, but the industry is maturing with better security practices, cross-chain solutions, and increased formal cryptographic tools. In the coming years, blockchain will remain the base to digital economies and drive Web3 gaming environments that allow players to safely own, trade, and enjoy their digital experiences free from fraud and exploitation. While blockchain and gaming alone entertain, we will usher in an era of secure digital worlds where trust complements innovation. The Role of Blockchain in Building Safer Web3 Gaming Ecosystems was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story
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