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Residents of the housing projects where rap mogul Jay Z grew up in Brooklyn, NY, say his latest endeavor is just a waste of their time.

He often reminisces about his humble beginnings and drug dealings in his rap songs.

"Where I'm from, Marcy son, ain't nothing nice," he raps in "Where I'm From."

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He used to return to the projects bearing gifts for the younger residents, but he has since stopped, says a resident.

Now Jay Z has come up with a new venture - the Bitcoin Academy - a 12-week series of free "financial literacy" courses to teach low-income Marcy residents how to trade in Bitcoin.

The course will start at a time when Bitcoin investors have lost nearly $2.7 trillion since November 2021. Bitcoin crashed below $26,000 this week and is currently priced at $20,582.44 per coin.

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After residents complete the course, they will receive a small amount of bitcoin worth around $20-$25 in their own digital wallets.

Most Marcy residents weren't aware of the bitcoin classes when a reporter dropped by on Wednesday afternoon.

A Twitter user posted an image of Bitcoin Academy flyers that were tossed in a pile on the floor in one building.

"This is how Jay Z's Bitcoin Academy is being distributed in Marcy Ps... Just throwing it in the lobby... lol," @Coach_HugginsJr wrote in the caption.

Nyashia Figueroa, a 24-year-old resident, agreed to speak with a reporter from The Guardian. She said Jay Z's Bitcoin Academy was a waste of the residents' time.

"Half the people that's going to go to that class, probably just going to go to the class for the $25 that you get," she said. "The other half of the people, they'll probably take what they learn and forget it down the line."

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Figueroa said the classes show how out of touch Jay Z is with his people.

"If you want to do something, fix this place up," she said. "We have a basketball court with no hoops. Our parks is broken up in here. He should be doing more for his community, not no Bitcoin Academy."

She added: "The only thing I could say he really did for us was the Christmas stuff. Every Christmas he would come around and he would give out free toys to the kids or like pocketbooks, perfumes and little MP3 players. That was good; the bitcoin ain't."

She continued: "He stopped coming around, and then it was just his mother that was coming around for a long period of time. And now I don't even know if they do it any more. This is where he rep he's from and all that, but he don't do nothing for us."

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Total chaos erupted as cryptocurrency investors saw their life savings wiped out overnight.

More than $1 trillion was lost from the cryptocurrency market due to massive sell-off this week. Over $200 billion was lost in a single day.

Bitcoin dipped below $26,000 before rallying to around $29,000 on Thursday.

Both Bitcoin and ethereum, its closes rival, are down 30% in the past 7 days, according to reports.

Shares of Coinbase dipped Wednesday after the company said its revenue fell 27% from a year ago.

Small investors who bet their life savings in cryptocurrency are among the hardest hit.

One Luna crypto investor lost his entire life savings ($488,000 USD) when the cryptocurrency crashed 98% overnight.

"I will lose my home soon. I'll become homeless," he wrote in a post on the TerraLuna sub-Reddit. Hundreds of Redditors posted similar stories in other subs.

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One Reddit sub locked new posts after users expressed suicidal thoughts.

Terra Luna was among the Top 10 cryptocurrencies in the world until it dipped below $1 on Wednesday from a peak of $120 just last month.

The Terra Luna crash sparked the massive crypto market sell-off this week.
 
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Major websites such as the BBC, New York Times, Bloomberg News, The Guardian, Reddit, and the Disqus commenting platform were hit by a massive Internet outage ovrnight.

The Internet outage affected Amazon.com and Fastly.com, which provide updated news content to many websites.

The BBC and United Kingdom's government page, were temporarily down during a massive outage early Tuesday, NBC News reported.

Social media users took to Twitter.com early Tuesday to say most of the websites they normally visit were down.

Fastly.com, an American cloud services provider, issued an update on its status page at about 5:58 a.m. ET., saying the "issue has been identified and a fix is being implemented."

It isn't clear if the websites were hit by a Russian cyberattack.

The global outage comes a day after the U.S. Department of Justice announced it had recovered most of the cryptocurrency ransom paid to a criminal hacker group that hit Atlanta-based Colonial pipeline, causing gas prices to surge nationwide in mid-May.

The DOJ used "sophisticated technology" to recover $2.3 million of the $4.4 million in Bitcoins paid to the Russian-based Darkside hacker group that compromised Colonial's IT system.

Colonial paid the ransom to the hacker group within 48 hours after the cyberhack in May.

JBS meat processing company was also hit by ransomware, resulting in the shutdown of all of its North American meat packing plants earlier this month.

"The sophisticated use of technology to hold businesses and even whole cities hostage for profit is decidedly a 21st century challenge," said U.S. attorney general Lisa Monaco, during a press conference on Monday afternoon. "Today we turned the tables on DarkSide."

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Update: Every verified account with blue checkmarks have been locked by Twitter.

Update I: Apparently, the Twitter account of a high ranking Twitter staffer was sold on the black market. That account - which has user access to every Twitter account - was compromised by hackers on Wednesday.

Update II: A message on the dark web reads:

"Don't purchase any Twitters for the time being, the internal employee panel was hacked and someone has access to any Twitter they want. You will also see lots of scams, don't fall for them."

 

Original post:

Hackers targeted the Twitter accounts of high-profile politicians and tech billionaires in a coordinated bitcoin scam.

The hackers hit the Twitter accounts of former President Barack Obama and former VP Joe Biden on Wednesday. President Trump's Twitter account wasn't hacked.

Also targeted were tech billionaires including Amazon CEO Jeff Bezos, Microsoft founder Bill Gates and Tesla CEO Elon Musk.

The hackers somehow gained access to the high profile accounts and offered to send Twitter users $2,000 for every $1,000 sent to a bitcoin address.

The tweets read: "I am giving back to my community due to Covid-19! All Bitcoin sent to my address below will be sent back doubled. If you send $1,000 I will send back $2,000. Only doing this for the next 20 minutes. Enjoy!"

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AFP via Getty Images

The fake tweets were sent simultaneously on the hacked Twitter accounts of America's wealthiest men and high-profile politicians.

Biden's staff locked down his Twitter account almost immediately and the tweets were swiftly deleted, but not before hackers collected over $110,000 in bitcoin currency.

Twitter released a statement noting it was aware of the highly embarrassing security breaches on their platform and they are working to figure out how the hackers compromised the accounts.

Update: Kanye West's Twitter account was also hacked.

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Boxer Floyd Joy Mayweather, Jr., left, and hip-hop producer DJ Khaled Mohamed Khaled, right, were charged with securities fraud and ordered to pay nearly $1 million in fines for promoting a cryptocurrency ICO scam on social media.

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