Day: July 12, 2018

$10 Mln in Ethereum Stolen Over Past Year via Social Engineering Tricks

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Kaspersky Lab’s security experts have found that cyber criminals were able to steal more than 21,000 in Ethereum (ETH) (worth around $10 million) through social engineering schemes over the past year, Cointelegraph auf Deutsch reports Thursday, July 12. According to a July 9 report, cyber criminals have triggered more than a hundred thousand alarms altogether on security software in connection with cryptocurrencies since the beginning of 2018. Kaspersky Lab notes that scammers particularly single out investors interested in Initial Coin Offerings (ICO), using fake websites and phishing emails containing an…

Report: More Than Three-Quarters of ICOs Were Scams

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About half of the existing crypto-asset market today – numbering some 1,500 – functions on top of an existing blockchain like ethereum, according to a new report. The study from Satis Group, which forms part of a five-entry series analyzing the state of the cryptocurrency ecosystem, explores the state of what it calls “platform networks,” honing on ethereum as well as other blockchains like NEO, EOS and Cardano, among others. In looking at the “market share” of those platforms, it’s perhaps not surprising that ethereum constitutes the bulk of that figure…

Binance Exchange Backs First-Ever Decentralized Bank in Malta

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Binance, one of the biggest cryptocurrency exchanges in the world, is reportedly among a number of investors backing a decentralized bank to be launched in Malta. Bloomberg reported Thursday that Binance had confirmed it has acquired a 5 percent stake in the so-called Founders Bank at a €133 million euro ($155 million) pre-investment valuation. Founders Bank will have systems based on blockchain technology and will partner with fundraising platform Neufund in an issuance of its own “legally-binding” equity tokens, according to Binance. The bank is hoping to obtain a license from…

Crypto Exchange Binance Backs Plans to Create First Decentralized, Tokenized Bank

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The world’s second largest crypto exchange, Binance, is backing plans to create a blockchain-based bank with tokenized ownership, Bloomberg reports today, July 12. The future “Founders Bank” would be owned by digital token investors and be based in Malta, known for its robust and transparent crypto regulatory climate. According to Bloomberg, Binance has already invested in a 5 percent stake, along with other anchor investors, at a $155 million pre-money valuation. The project seeks to become the world’s first decentralized, community-owned bank. The owners of the future bank will be…

Bear Market’s Little Helpers? A Guide to Crypto Futures

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. Since their triumphant advent in the wake of the December 2017 bull run, Bitcoin futures seem to have occupied an oddly fixed position in the minds of many cryptocurrency buffs. A popular view among those who follow the dynamics of the crypto world rests on a set of established points about BTC futures: they exist since late 2017; they are offered by Cboe and…

New US Gov’t Task Force Highlights Digital Currency Fraud for ‘Particular Attention’

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Digital currency fraud will form one of the areas of “particular attention” for a new U.S. anti-crime task force with participation from several government bodies, according to an executive order issued July 11. The Task Force on Market Integrity and Consumer Fraud, which will have the U.S. deputy attorney general as its chair and associate attorney general as vice chair, seeks to “provide guidance for the investigation and prosecution of cases involving fraud on the government, the financial markets, and consumers.” The executive order outlining the taskforce highlights areas of…

Crypto Market Drops Another $10 Billion as Bitcoin Declines to $6,150

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Over the past 24 hours, the valuation of the crypto market has dropped by $10 billion, as bitcoin fell to $6,150 and ether dropped below $440. Even after recording a steep 5 percent fall from $6,700 to $6,400 and demonstrating an oversold condition with low Relative Strength Index (RSI), bitcoin struggled to rebound and attempt a corrective rally. Low Volume On July 11, CCN reported that a corrective rally is unlikely even with bitcoin at $7,400 due to its low volume and overly strong downtrend. Although bitcoin broke RSI trendlines…

Bitcoin Bull Move on Hold as Downside Risks Grow

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Bitcoin (BTC) traded largely sideways over the last 24 hours, though a dip soon before press time may threaten a developing bullish chart pattern if the price moves below $6,000. BTC’s drop below 10-day moving average (MA) on Tuesday neutralized the immediate bullish outlook and shifted risk in favor of a sell-off to $6,000. However, the cryptocurrency defended $6,300 yesterday amid intraday oversold conditions, establishing the round figure as a key short-term support. But, the resilience failed to entice bulls, rather a long liquidation (unwinding of long BTC trades) gathered…

Crypto Exchange Bitcoin.Com.Au Appoints Ex-Exec of Accounting Giant PwC as CEO

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Australian cryptocurrency exchange bitcoin.com.au has appointed former consulting giant PricewaterhouseCoopers (PwC) executive Ben Ingram as its new CEO, Business Insider Australia reports today, July 12. Ingram held the role of director in charge of digital strategy at Big Four auditor PwC, leaving the company in March of this year. Business Insider Australia writes that Ingram’s work at bitcoin.com.au will include both improving the exchange’s trading functionality and focusing on expanding crypto-based financial products into the traditional market space. Ingram specifically mentioned instituting crypto investment products into areas like superannuation, which…

Bitcoin Price Watch: BTC/USD Trend Overwhelmingly Bearish

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Key Points Bitcoin price declined further and broke a key support at USD 6,300 against the US Dollar. There was a break below a contracting triangle with support at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently under pressure and it remains at a risk of more losses below $6,200. Bitcoin price dropped significantly below $6,300 against the US Dollar. BTC/USD is accelerating losses towards the next supports at $6,100 and $6,050. Bitcoin Price Analysis Bitcoin price started a short-term correction…