Online Cash Bitcoin Could Challenge Governments, Banks

Minimalist · May 24, 2020

Moving Coins, Data Breaches, and Magical Authors: Bad Crypto News of the Week

It’s been a good week for Bitcoin. The halving doesn’t seem to have done the top cryptocurrency any harm at all, with the dollar value up more than 8 percent over the previous week. Ethereum is up more than 10 percent which just shows that the opportunity for blockchain-based solutions are still red-hot.
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https://cointelegraph.com/news/movi...d-magical-authors-bad-crypto-news-of-the-week

Minimalist · May 24, 2020

China's Crypto Is All About Tracing — and Power

(Bloomberg Opinion) --The coronavirus has disrupted the world in very large ways. While that battle has been waged, however, another event has almost been missed: the birth of a new kind of fiat currency, which could forever reshape the relationship between money, economic power and geopolitical clout.

An official Chinese digital yuan, more than five years in the making, is now in pilot runs to slowly start replacing the physical legal tender. If the experiment succeeds, this new cash, valued the same as the familiar banknotes bearing Mao Zedong’s image, will become the world’s first sovereign token to reside exclusively in the ether.
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https://www.bnnbloomberg.ca/china-s-crypto-is-all-about-tracing-and-power-1.1440331

guest · May 26, 2020

Facebook rebrands cryptocurrency wallet ‘Calibra’ to ‘Novi’
May 26, 2020
https://fortune.com/2020/05/26/facebook-calibra-novi-rebrand-fb-crypto-wallet-libra/

Facebook announced on Tuesday morning it has renamed a key component of its ambitious cryptocurrency project known as Libra. Henceforth, the company's digital wallet, which it hopes to launch late this year, will be known as "Novi" rather "Calibra."
David Marcus, a former President of PayPal who now heads up Libra, stated in a Facebook post that "the old name was a little too close to the name of the Libra."

Facebook announced the Libra network last June with hopes of launching its cryptocurrency in 2019, but the project soon became mired in political and regulatory controversy [...] More recently, Libra has regained some momentum, adding e-commerce giant Shopify to its list of partners.
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In response to a query from Fortune, a Facebook spokesperson did not address whether the name change was informed by trademark issues. Instead, the spokesperson said the new name was intended to avoid confusion between Calibra and Libra.
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Novi

Minimalist · May 30, 2020

The Crypto Enthusiast’s Dream: Top Countries That Tick All the Boxes

Alongside the internet, cryptocurrencies have made the world a global village. Here is a list of countries that are ideal for crypto enthusiasts to live in.
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https://cointelegraph.com/news/the-crypto-enthusiasts-dream-top-countries-that-tick-all-the-boxes

Minimalist · May 31, 2020

Bitcoin Rising, Satoshi Discoveries, & Google Enters the Race: Bad Crypto News of the Week

It’s been a strange week for BTC as we move forward in our new mining rewards era. The price ends the week down but a late rally has pushed it back over $9,000.
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https://cointelegraph.com/news/bitc...e-enters-the-race-bad-crypto-news-of-the-week

Minimalist · May 31, 2020

Swiss Regulators Green Light Crypto Transactions for Local Bank

InCore bank becomes the first Swiss business-to-business bank approved by the financial watchdog to operate with digital assets.
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https://cointelegraph.com/news/swiss-regulators-green-light-crypto-transactions-for-local-bank

Minimalist · May 31, 2020

Crypto and Fiat Currencies Are Worlds Apart, Here Are the Reasons Why

Amid this current crisis, the Bitcoin halving highlights core differences between fiat and crypto monetary systems and the distribution of power in both.
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https://cointelegraph.com/news/crypto-and-fiat-currencies-are-worlds-apart-here-are-the-reasons-why

guest · Jun 2, 2020

Hackers Wire Nearly $800,000 in Bitcoin Stolen from Bitfinex in 2016
June 2, 2020
https://u.today/hackers-wire-nearly-800000-in-bitcoin-stolen-from-bitfinex-in-2016

Whale Alert has reported that several hours ago, another portion of Bitcoin stolen from Bitfinex during the hack in 2016 was moved.
The total amount of BTC the hackers got ahold of four years ago totals $72 mln.
Another portion of the stolen $72 mln on the move
On June 7, 2016, cybercriminals managed to get away from Bitfinex taking $72 mln in Bitcoin from the exchange (nearly 120,000 BTC at the exchange rate at that moment).

Since then, the hackers have been gradually moving the stolen riches in small portions. This time a transaction of 77.644901 BTC was spotted.
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guest · Jun 3, 2020

Coincheck Customers Fall Victim to Data Breach After Domain Account Error
June 3, 2020
https://www.coindesk.com/crypto-exchange-coincheck-victim-domain-data-breach

The Japanese firm – which fell victim to possibly the largest crypto hack in history in 2018 – said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers.

“A third party who made unauthorized access (hereinafter, a third party) fraudulently sent some emails from our customers during the period from May 31 to June 1, 2020,” reads the report. “It turned out that [the domain name] was in a state where it could be acquired.”
How the third parties were allowed to gain access to Coincheck’s domain account is currently being investigated by the registration firm, Coincheck said.
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Minimalist · Jun 6, 2020

Ball’s in Their Court: Crypto Custodians Waiting on Regulators to Act

Crypto custody firms are mostly treated like traditional assets, ignoring the uniqueness of digital assets and its various complexities.
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https://cointelegraph.com/news/balls-in-their-court-crypto-custodians-waiting-on-regulators-to-act

Minimalist · Jun 6, 2020

Gibraltar Financial Watchdog Issues Warnings for Four Crypto Sites

The Gibraltar Financial Services Commission has warned the public about four crypto sites that are not regulated by the country.
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https://cointelegraph.com/news/gibraltar-financial-watchdog-issues-warnings-for-four-crypto-sites

Minimalist · Jun 7, 2020

Crypto Ransom Amounts Skyrocketed 200% in 2019

A report from Crypsis Group revealed that threat actors have significantly escalated their tactical approaches in ransomware attacks.
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https://cointelegraph.com/news/crypto-ransom-amounts-skyrocketed-200-in-2019

Minimalist · Jun 7, 2020

3 Things Every Crypto Investor Should Know About Trading Bitcoin Futures

Crypto exchanges are offering more futures and options instruments for investors, but it's crucial to be aware of funding and other fees.
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https://cointelegraph.com/news/3-th...tor-should-know-about-trading-bitcoin-futures

Minimalist · Jun 7, 2020

Crypto Crime on the Rise — Good Odds of 2020 Becoming a Record-Breaker

Experts believe that a more holistic crypto ecosystem, especially one that is more AML-centric, is needed to help prevent the spread of crypto scams in 2020.
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https://cointelegraph.com/news/crypto-crime-on-the-rise-good-odds-of-2020-becoming-a-record-breaker

Minimalist · Jun 7, 2020

Safety Check: If Crypto Custodian Fails, Clients May Not Get a Full Payout

Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says.
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https://cointelegraph.com/news/safe...odian-fails-clients-may-not-get-a-full-payout

guest · Jun 9, 2020

You can now buy a Coke with cryptocurrency across Australia and New Zealand
June 9, 2020
https://www.zdnet.com/article/you-c...ptocurrency-across-australia-and-new-zealand/

Vending machines across Australia and New Zealand will soon accept cryptocurrency, thanks to a partnership between Coca-Cola Amatil and digital asset integrator Centrapay.

Centrapay said its platform is designed to "help brands connect directly with individuals and increase revenue and operational efficiency for merchants". Its CEO, Jerome Faury, believes the platform overcomes integration complexity and poor user experiences which have been barriers to the adoption of technologies such as digital identity and assets.

"We have solved both these issues. Centrapay is pioneering the way to enable this new internet of value and bring its benefits to both consumers and merchants," he said in a statement on Tuesday.
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guest · Jun 10, 2020

Coinsquare Data Theft Flags Insider Threat Issue
June 8, 2020
https://www.cisomag.com/coinsquare-data-theft/

Coinsquare, a Canadian crypto exchange that enables its users to trade Bitcoin, Ethereum, and other cryptocurrencies, confirmed that its customer information was stolen by an ex-employee last year. Cybercriminals laid their hands on this data and are now reportedly going to carry out SIM swapping attacks.

According to Stacey Hoisak, Coinsquare’s general counsel, the data theft took place a year ago by a now ex-employee of the company from the Customer Service system. They had notified the law enforcement and data protection authorities concerned, as well as all known impacted users at the time as soon as the data theft was detected.
As per Vice Media’s interview with an anonymous hacker, the cybercriminals want to “embarrass the company (Coinsquare) for claiming they were the most secure Canadian exchange on their website.”
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Since the data theft, Coinsquare has streamlined and introduced sophisticated internal controls to avoid insider threats.
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guest · Jun 11, 2020

Hackers Move Another $4 Million Worth Of BTC Stolen In Bitfinex 2016 Attack
June 11, 2020
https://cryptopotato.com/hackers-move-another-4-million-worth-of-btc-stolen-in-bitfinex-2016-attack/

WhaleAlert has identified another wave of transfers of some of the funds stolen during the Bitfinex hack of 2016. According to reports, the hackers moved a total of 416 BTC ($4,089,151) at around midnight, Wednesday 10, 2020, to multiple unknown Bitcoin addresses.

The hackers transferred the coins to 20 different addresses, with each transaction carrying between 15 BTC to 33.3 BTC. Some of the receiving addresses then moved the funds to other unknown addresses.
$5.1 Million Moved in 3 Weeks
This makes it the third wave of coins the thieves have moved from the Bitfinix hack within the last 30 days. Last week, Whale Alert reported that the hackers transferred 80.93 BTC ($794,852) to two unknown wallets.
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guest · Jun 12, 2020

Is Craig Wright The Man Behind Mt.Gox Hack?
June 12, 2020
https://coingape.com/is-craig-wright-the-man-behind-mt-gox-hack/

The latest updates suggest that Wright was behind the Mt.Gox hack that took place back in 2011. The Mt.Gox hack was touted as one of the biggest Bitcoin hacks that the crypto industry had witnessed.

A letter sent to Blockstream was seen surfacing through crypto Twitter. Samson Mow, the CSO at Blockstream shared a letter on his Twitter handle in which Wright’s law firm, SCA Ontier LLP revealed that the Bitcoin addresses that accommodated 80,000 stolen coins from the Mt.Gox exchange belonged to Wright.
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Did the Mt. Gox Bitcoin hacker finally reveal himself?

Not many people would admit to having orchestrated one of Bitcoin’s biggest ever exchange hacks. But it appears one has.
In brief

Craig Wright's lawyers have sent a letter to Blockstream.

It claims that Wright owned the addresses that received the Mt. Gox stolen Bitcoin.

But they claim that Wright recently lost access to the wallet.

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Minimalist · Jun 13, 2020

Options Trading Is a Huge Step for the Crypto Derivatives Market

Different options trading will help to diversify the market, making it flourish on the global financial scene.
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https://cointelegraph.com/news/options-trading-is-a-huge-step-for-the-crypto-derivatives-market

Minimalist · Jun 13, 2020

Blackout Cure Needed? BTC Price Volatility Challenges Crypto Exchanges

2020 has been one of BTC’s most volatile periods, but why do cryptocurrency exchanges keep crashing under high demand?
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https://cointelegraph.com/news/blackout-cure-needed-btc-price-volatility-challenges-crypto-exchanges

Minimalist · Jun 13, 2020

Blockchain Is Evolving Like the Internet: Who Will Be the Crypto Hotmail?

Blockchain’s evolution path is similar to the invention of the internet, and we are already in its second phase.
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https://cointelegraph.com/news/bloc...e-the-internet-who-will-be-the-crypto-hotmail

guest · Jun 17, 2020

There are now 8,000 Bitcoin ATMs globally
June 16, 2020
https://decrypt.co/32492/there-are-now-8000-bitcoin-atms-globally

The number of Bitcoin ATMs worldwide has surged by 150% in the past two years, according to data from Norwegian financial services company AksjeBloggen.

Since the introduction of the first Bitcoin ATM in 2013, more than 8,000 machines have now been installed in over 75 countries—a sure fire indication of healthy growth in the cryptocurrency industry.
In just the first six months of this year, more than 1,713 ATMs were installed. The vast majority of them are in North America.

Authorities are concerned that ATMs present the simplest method of currency conversion, and are boon for money laundering, as they allow for transactions between two fiat currencies, underpinned by Bitcoin.
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In Canada, regulators are already cracking down on Bitcoin ATM transfers, and recently passed a law mandating operators to report all transactions above $10,000 Canadian dollars (about $7,400).
Notices alerting customers to scam transactions, have also appeared on machines in Canada.
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guest · Jun 19, 2020

Crypto founder admits $25 million ICO backed by celebrities was a scam
June 18, 2020
https://nakedsecurity.sophos.com/20...million-ico-backed-by-celebrities-was-a-scam/

The Miami-based cryptocurrency firm Centra Tech was built on fairy dust and paid celebrity hoo-ha, but co-founder Robert Joseph Farkas is going to be doing real time in a real prison for the $25 million initial coin offering (ICO) rip-off.

Farkas – also known as RJ – pled guilty in Manhattan federal court on Tuesday to charges of conspiring to commit securities and wire fraud, according to the US Attorney’s Office for the Southern District of New York.
Sentencing hasn’t been scheduled yet. Farkas, 33, pled guilty to two charges, each of which carries a maximum sentence of five years in prison. Maximum sentences are rarely handed out, but Farkas agreed to serve between 70 and 87 months and a fine of up to $250,000 in a plea deal.
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The house of cards fell apart on or about May 2018 and October 2018, when the FBI and the Southern New York Attorney’s Office seized 100,000 Ether units that victims had forked over to buy digital tokens issued by Centra Tech during its ICO.
The three co-founders were charged with lying to investors. Next up will be Frakas’s sentencing – not yet scheduled – as well as the trials of Sharma and Trapani, who are scheduled to appear in court in November.
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Minimalist · Jun 20, 2020

Market Predictions, Miner Fees Fluctuate, & China Moves Fast: Bad Crypto News of the Week

An eventful week for Bitcoin this week. It ended down nearly 5 percent but at one point, things were looking much worse. A collapse to $8,900 sparked talk of a three-month correction—which could be exacerbated by the expiration of more than 100,000 Bitcoin options next Friday.
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https://cointelegraph.com/news/mark...-china-moves-fast-bad-crypto-news-of-the-week

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