#FactCheck - False Claim of Italian PM Congratulating on Ram Temple, Reveals Birthday Thanks

Introduction

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Purchasing online currencies through one of the numerous sizable digital marketplaces designed specifically for this purpose is the simplest method. The quantity of cryptocurrency and money paid. These online marketplaces impose an exchange fee. After being obtained, digital cash is stored in a digital wallet and can be used in the metaverse or as real money to make purchases of goods and services in the real world. Blockchain ensures the security and decentralisation of each exchange. 

Its worth and application are comparable to those of gold: when a large number of investors choose this valuable asset, its value increases and vice versa. This also applies to cryptocurrencies, which explains why they have become so popular in recent years. The metaphysical realm is an online space where users can communicate with one another via virtual personas, among other features. Furthermore, money and commerce always come up when people communicate. 

Web3 is welcoming the metaverse, and in an environment where conventional currency isn't functional, its technologies are making it possible to use cryptocurrencies. Non-Fungible Tokens (NFTs) can be used to monitor intellectual rights to ownership in the metaverse, while cryptocurrencies are used to pay for content and incentivise consumers. This write-up addresses what the metaverse crypto is. It also delves into the advantages, disadvantages, and applications of crypto in this context. 

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Convergence of Metaverse and Cryptocurrency

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As the main form of digital money in the Metaverse, digital currencies can be used to do business and exchange in the digital realm. The term "metaverse" describes a simulation of reality where users can communicate in real time with other users and an environment created by computers. The acquisition and exchange of virtual products, virtual possessions, and electronic creativity within the Metaverse can all be made possible via cryptocurrency. 

Many digital currencies are based on blockchain software, which can offer an accessible and safe way to confirm payments and manage digital currencies in the Metaverse. By giving consumers vouchers or other electronic currencies in exchange for their accomplishments or contributions, cryptocurrency might encourage consumer engagement and involvement in the Metaverse.

In the Metaverse, cryptocurrency can also facilitate portable connectivity, enabling users to move commodities and their worth between various virtual settings and platforms.

The idea of fragmentation in the Metaverse, where participants have more ownership and control over their virtual worlds, is consistent with the decentralised characteristics of cryptocurrencies.

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Advantages of Metaverse Cryptocurrency

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There are countless opportunities for creativity and discovery in the metaverse. Because the blockchain is accessible to everyone, unchangeable, and password-protected, metaverse-centric cryptocurrencies offer greater safety and adaptability than cash. Crypto will be crucial to the evolution of the metaverse as it keeps growing and more individuals show interest in using it. Here are a few of the variables influencing the growth of this new virtual environment.

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Safety

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Your Bitcoin wallet is intimately linked to your personal information, progress, and metaverse possessions. Additionally, if your digital currency wallet is compromised, especially if your account credentials are weak, public, or connected to your real-world identity, cybercriminals may try to steal your money or personal data. 

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Adaptability

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Digital assets can be accessed and exchanged worldwide due to cryptocurrencies’ ability to transcend national borders. By utilising a local cryptocurrency, many metaverse platforms streamline transactions and eliminate the need for frequent currency conversions between various digital or fiat currencies. Another advantage of using autonomous contract languages is for metaverse cryptos. When consumers make transactions within the network, applications do away with the need for administrative middlemen.

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Objectivity

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By exposing interactions in a publicly accessible distributed database, the use of blockchain improves accountability. It is more difficult for dishonest people to raise the cost of digital goods and land since Bitcoin transactions are public. Metaverse cryptocurrencies are frequently employed to control project modifications. The outcomes of these legislative elections are made public using digital contracts. 

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NFT, Virtual worlds, and Digital currencies  

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Using the NFT is an additional method of using Bitcoin for metaverse transactions. These are distinct electronic documents that have significant potential value.  

A creator must convert an electronic work of art into a virtual object or virtual world if they want to display it digitally in the metaverse. Artists produce one-of-a-kind, serialised pieces that are given an NFT that may be acquired through Bitcoin payments. 

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Applications of Metaverse Cryptography

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Fiat money or independent virtual currencies like Robux are used by Web 2 metaverse initiatives to pay for goods, real estate, and services. Fiat lacked the adaptability of cryptocurrencies with automated contract capabilities, even though it may be used to pay for goods and finance the creation of projects. Users can stake these within the network virtual currencies to administer distributed metaverses, and they have all the same functions as fiat currency.

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Banking operations

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Lending digital cash to purchase metaverse land is possible. Banks that have already made inroads into the metaverse include HSBC and JPMorgan, both of which possess virtual real estate. "We are making our foray into the metaverse, allowing us to create innovative brand experiences for both new and existing customers," said Suresh Balaji, chief marketing officer for HSBC in Asia-Pacific.

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Purchasing

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An increasingly important aspect of the metaverse is online commerce. Users can interact with real-world brands, tour simulated malls, and try on virtual apparel for their characters. Adidas, for instance, debuted an NFT line in 2021 that included customizable peripherals for the Sandbox. Buyers of NFTs crossed the line separating the virtual universe and the actual world to obtain the tangible goods associated with their NFTs.

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Authority

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Metaverse initiatives are frequently governed by cryptocurrency. Decentraland, a well-known Ethereum-based metaverse featuring virtual reality components, permits users to submit and vote on suggestions provided they own specific tokens.

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Conclusion

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The combination of the virtual world and cryptocurrencies creates novel opportunities for trade, innovation, and communication. The benefits of using the blockchain system are increased objectivity, safety, and flexibility. By facilitating exclusive ownership of digital assets, NFTs enhance metaverse immersion even more. In the metaverse, cryptocurrencies are used in banking, shopping, and government, forming a user-driven, autonomous digital world. The combination of cryptocurrencies and the metaverse will revolutionise how we interact with online activities, creating a dynamic environment that presents both opportunities and difficulties.

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References

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• https://www.telefonica.com/en/communication-room/blog/metaverse-and-cryptocurrencies-what-is-their-relationship/
• https://hedera.com/learning/metaverse/metaverse-crypto
• https://www.linkedin.com/pulse/unleashing-power-connection-between-cryptocurrency-ai-amit-chandra/

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Executive Summary:

A misleading video of a child covered in ash allegedly circulating as the evidence for attacks against Hindu minorities in Bangladesh. However, the  investigation revealed that the video is actually from Gaza, Palestine, and was filmed following an Israeli airstrike in July 2024. The claim linking the video to Bangladesh is false and misleading.

Claims:

A viral video claims to show a child in Bangladesh covered in ash as evidence of attacks on Hindu minorities.

Fact Check:

Upon receiving the viral posts, we conducted a Google Lens search on keyframes of the video, which led us to a X post posted by Quds News Network. The report identified the video as footage from Gaza, Palestine, specifically capturing the aftermath of an Israeli airstrike on the Nuseirat refugee camp in July 2024.

The caption of the post reads, “Journalist Hani Mahmoud reports on the deadly Israeli attack yesterday which targeted a UN school in Nuseirat, killing at least 17 people who were sheltering inside and injuring many more.”

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To further verify, we examined the video footage where the watermark of Al Jazeera News media could be seen, We found the same post posted on the Instagram account on 14 July, 2024 where we confirmed that the child in the video had survived a massacre caused by the Israeli airstrike on a school shelter in Gaza. 

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Additionally, we found the same video uploaded to CBS News' YouTube channel, where it was clearly captioned as "Video captures aftermath of Israeli airstrike in Gaza",  further confirming its true origin.

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We found no credible reports or evidence were found linking this video to any incidents in Bangladesh. This clearly implies that the viral video was falsely attributed to Bangladesh. 

Conclusion:

The video circulating on social media which shows a child covered in ash as the evidence of attack against Hindu minorities is false and misleading. The investigation leads that the video originally originated from Gaza, Palestine and documents the aftermath of an Israeli air strike in July 2024.  

• Claims: A video shows a child in Bangladesh covered in ash as evidence of attacks on Hindu minorities.
• Claimed by: Facebook
• Fact Check: False & Misleading

Executive Summary:

This report discloses a new cyber threat contributing to the list of threats targeting internet users in the name of "Aarong Ramadan Gifts". The fraudsters are imitating the popular Bangladeshi brand Aarong, which is known for its Bengali ethnic wear and handicrafts, and allure the victims with the offer of exclusive gifts for Ramadan. The moment when users click on the link, they are taken through a fictitious path of quizzes, gift boxes, and social proof, that simply could damage their personal information and system devices. Through knowing how this is done we can educate users to take caution and stop themselves from falling into cyber threats.

False Claim:

The false message accompanied by a link on social media, claims that Aarong, one of the most respected brands in Bangladesh for their exquisite ethnic wear and handicrafts, is providing Ramadan gifts exclusively through online promotion. And while that may be the facade of the scam, its real aim is to lead users to click on harmful links that may end up in their personal data and devices being compromised.

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The Deceptive Journey:

• The Landing page starts with a salutation and a catchy photo of Aarong store, and later moves ahead encouraging the visitors to take a part of a  short quiz to claim the gift. This is designed for the purpose of creating a false image of authenticity and trustworthiness.
• A certain area at the end of the page looks like a social media comment section, and users are posting the positive impacts the claim has on them. This is one of the techniques to build the image of a solid base of support and many partakers.
• The quiz starts with a few easy questions on how much the user knows about Aarong and their demographics. This data is vital in the development of more complex threats and can be used to address specific targets in the future.
• After the user hits the OK button, the screen displays a matrix of the Gift boxes, and the user then needs to make at least 3 attempts to  attain the reward. This is a commonly used approach which allows the scammer to keep users engaged longer and increases the chances of making them comply with the fraudulent scheme.
• The user is instructed to share the campaign on WhatsApp from this point of the campaign, and the user must keep clicking the WhatsApp button until the progress bar is complete. This is a way to both expand and perpetuate the scam, affecting many more users.
• After completing the steps, the user is shown instructions on how to claim the prize.

The Analysis:

• The home page and quiz are structured to maintain a false impression of genuineness and proficiency, thus allowing the victims to partake in the fraudulent design. The compulsion to forward the message in WhatsApp is the way they inspire more and more users and eventually get into the scam.
• The final purpose of the scam could be to obtain personal data from the user and eventually enter their devices, which could lead to a higher risk of cyber threats, such as identity theft, financial theft, or malware installation.
• We have also cross-checked and as of now there is no well established and credible source or any official notification that has confirmed such an offer advertised by Aarong.
• The campaign is hosted on a third party domain instead of the official Website, this raised suspicion. Also the domain has been registered recently.
• The intercepted request revealed a connection to a China-linked analytical service, Baidu in the backend.

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• Domain Name: apronicon.top
• Registry Domain ID: D20231130G10001G_13716168-top
• Registrar WHOIS Server: whois.west263[.]com
• Registrar URL: www.west263[.]com
• Updated Date: 2024-02-28T07:21:18Z
• Creation Date: 2023-11-30T03:27:17Z  (Recently created)
• Registry Expiry Date: 2024-11-30T03:27:17Z
• Registrar: Chengdu west dimension digital
• Registrant State/Province: Hei Long Jiang
• Registrant Country: CN (China)
• Name Server: amos.ns.cloudflare[.]com
• Name Server: zara.ns.cloudflare[.]com

Note: Cybercriminal used Cloudflare technology to mask the actual IP address of the fraudulent website.

CyberPeace Advisory:

• Do not open those messages received from social platforms in which you think that such messages are suspicious or unsolicited. In the beginning, your own discretion can become your best weapon.
• Falling prey to such scams could compromise your entire system, potentially granting unauthorized access to your microphone, camera, text messages, contacts, pictures, videos, banking applications, and more. Keep your cyber world safe against any attacks.
• Never, in any case, reveal such sensitive data as your login credentials and banking details to entities you haven't validated as reliable ones.
• Before sharing any content or clicking on links within messages, always verify the legitimacy of the source. Protect not only yourself but also those in your digital circle.
• For the sake of the truthfulness of offers and messages, find the official sources and companies directly. Verify the authenticity of alluring offers before taking any action.

Conclusion:

Aarong Ramadan Gift scam is a fraudulent act that takes advantage of the victims' loyalty to a reputable brand. The realization of the mechanism used to make the campaign look real, can actually help us become more conscious and take measures to our community not to be inattentive against cyberthreats. Be aware, check the credibility, and spread awareness to others wherever you can, to contribute in building a security conscious digital space.

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