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Rapper TI Cryptocurrency Fraud: Charged and Fined $75,000 by SEC
13.9.2020
Rapper TI and four other people, including film producer Ryan Felton, have been charged by the U.S. Securities and Exchange Commission (SEC) over fraudulent token sales. TI, or Tip as the rapper is also known, is also fined $75,000 by the securities regulator. Rapper TI and Film Producer Charged...
Apple Censors Some Cryptocurrency and Defi Features of Coinbase App
13.9.2020
Apple Inc. has censored some cryptocurrency features of the Coinbase app. Specifically, Apple has blocked Coinbase from adding to its iOS app the ability to earn money using cryptocurrency and access to decentralized finance (Defi) apps. Apple vs. Coinbase Cryptocurrency exchange Coinbase has been...
Tether Recovers $1 Million USDT Sent to Wrong Defi Address by Chinese Traders
13.9.2020
Tether has recovered and returned $1 million worth of USDT to a group of Chinese traders who, in error, sent the funds to a wrong decentralized finance (defi) address. On September 8, the group, going under the moniker ‘Bill,’ “accidentally” transferred the money to a Swerve...
Bitcoin Hashrate Ramps to 130 Exahash Amid Next-Generation Miner Shortage
13.9.2020
Regional reports from China have highlighted that a number of major Chinese ASIC mining rig manufacturers have sold out of their next-generation model stock. The shrinking supply of high-performance machines may be due to the shortage of 7nm and 8nm chips from TSMC and Samsung. Bitcoin miners...
Morgan Stanley Strategist Recommends Bitcoin as Central Banks Ramp Up Money Printing
13.9.2020
Morgan Stanley Investment Management’s chief strategist and head of emerging markets has recommended bitcoin as an alternative investment to stocks amid central banks’ massive money printing policies. He says that alternative assets, like gold and cryptocurrency, could keep doing well...
US Sanctions Russians Allegedly Using Cryptocurrency to Influence Presidential Election
12.9.2020
The U.S. has sanctioned several Russian nationals, a Ukrainian lawmaker, and their cryptocurrency addresses for interfering with the country’s electoral process. The Russians are allegedly employees of a troll factory that previously targeted presidential candidates. Operations to Interfere...
Huge ‘Bitcoin Tram’ Ad Campaign and 20 Billboards Flood Hong Kong’s Financial District
12.9.2020
A massive Bitcoin ad campaign has launched in the heart of Hong Kong’s financial district, featuring three Bitcoin trams and 20 matching billboards. It is a community initiative coordinated by the Bitcoin Association of Hong Kong, an organization with more than 5,000 members. The Bitcoin Tram...
European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft Law
12.9.2020
The European Commission, the executive arm of the E.U., has drawn up regulation to tightly monitor cryptocurrencies it considers “significant”, including asset-backed stablecoins like Facebook’s libra. Euractiv, a European news outlet, first reported the news on Sept.10, citing...
SLP Trading Platform Cryptophyl Plans to Change Into a Noncustodial Defi Exchange
12.9.2020
The U.K.-based Simple Ledger Protocol (SLP) exchange Cryptophyl is closing its doors in order to restructure into a decentralized finance (defi) platform. Cryptophyl has revealed the trading platform will officially go offline on September 21 and is asking customers to withdraw before that period....
Sushiswap Creator Returns $14 Million After Community Cries Exit Scam
11.9.2020
One week after the Sushiswap creator was accused of an exit scam, he has returned all of the coins he cashed out. The anonymous creator also apologizes to the community, including to Binance which came under fire for listing the sushi token. Sushiswap Creator Says ‘Sorry’ The creator...
The $700 Million Wallet Crack: Bitcoin’s 7th Largest Address Is Under Constant Attack
11.9.2020
During the last two years, hackers have been trying to crack the seventh-largest bitcoin wallet, an address that holds 69,370 BTC or $712 million using today’s exchange rate. According to the CTO of the cybercrime intelligence firm, Hudson Rock, the wallet is being publicized on hacking...
Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T
11.9.2020
A California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alleged negligence and fraud. The judge still ruled the telecom company had to answer the lawsuit by Michael Terpin for enabling the theft of $24 million worth of his cryptocurrency after...
IRS to Pay $625K to Crack Monero, Crypto Proponents Scoff at Contract
11.9.2020
The U.S. Internal Revenue Service (IRS) wants to pay a contractor $625,000 if they can crack layer-two privacy schemes and the privacy-centric crypto asset monero (XMR). The tax agency says that the entity has “limited investigative resources” for tracing these types of cryptocurrency...
European Crypto Exchange Hacked for $5.4 Million in Bitcoin
11.9.2020
Eterbase, a Slovak cryptocurrency exchange, revealed Thursday that it had been hacked for $5.4 million. Cyber-criminals broke into six hot wallets containing bitcoin, ethereum, algo, ripple, tezos, and tron, stealing everything, it said. Hot wallets are active digital asset accounts connected...
Defi Project Yfdex.Finance Vanishes With $20M Investors’ Funds Just Two Days After Launch
11.9.2020
Yfdex.Finance (Yfdex), a new liquidity mining pool, has reportedly exit scammed, making off with up to $20 million of investors’ funds. The decentralized finance (Defi) project convinced people to hand over their life savings following just two days of aggressive marketing on social media...
Despite Warnings from Regulators, the Ethereum Fueled Pyramid Scheme Forsage Thrives
11.9.2020
While Ethereum has seen a number of benefits from the decentralized finance (defi) movement and initial coin offerings (ICOs), more recently individuals have been leveraging ether for pyramid schemes and matrix cycler programs. One particular scheme crypto enthusiasts are discussing these days...
Mastercard Launches Digital Currency Testing Platform for Central Banks
10.9.2020
Mastercard has launched a digital currency testing platform aimed at helping central banks test their digital currencies. The system will also demonstrate how consumers can use central bank digital currencies to pay for goods and services wherever Mastercard is accepted worldwide....
South African Crypto Exchange Luno Expanding Globally After Acquisition by Digital Currency Group
10.9.2020
Digital Currency Group has acquired South African cryptocurrency exchange Luno, which has more than five million customers in over 40 countries. The acquisition will help Luno expand globally, including across its existing markets in Africa, Europe, and Asia. DCG Committed to Helping Luno Expand...
Fiat Devaluation Drives Retail Bitcoin Transfers in Africa 56% in a Year: Report
10.9.2020
Monthly cryptocurrency transfers to and from Africa under $10,000 soared more than 56% from a year ago to reach $316 million in June, according to new research by U.S. crypto analytics firm Chainalysis. Altogether, $8 billion worth of crypto was received into the continent and $8.1 billion sent...
SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency
10.9.2020
A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds...