Day: May 23, 2019

Fake Crypto Wallet App Imitating Trezor Found on Google Play Store

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Fraudsters have been adding fake cryptocurrency wallets to the Google Play store in an attempt to cash in on rising bitcoin (BTC) prices, ESET antivirus researchers claimed on May 23. One malicious app imitated the hardware wallet Trezor — and the investigation found that the software had ties to another fake app that has the potential to scam unsuspecting users out of money. While the app’s page on Google Play looked legitimate, the researchers said the software itself contains no Trezor branding at all, with a generic login screen phishing for credentials. According to ESET, more…

CoinMarketCap Requests More Information From Exchanges to Make Market More Transparent

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Recently, CoinMarketCap (CMC), arguably the industry’s best-known cryptocurrency market data service, announced an initiative to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” The move followed recent reports on fake volume data and wash trading among cryptocurrency exchanges that were published last month. Now, all exchanges are required to provide mandatory application programming interface (API) data to CMC by June 2019. Those who fail to do so risk getting delisted from the platform. So, can this brand new scheme cleanse the market from untrustworthy data? Fake…

2020 Presidential Hopeful Swalwell Launches Crypto Donations Campaign

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Eric Swalwell, a United States Democratic presidential candidate for the 2020 elections, has launched a crypto donations campaign, according to a press release shared with Cointelegraph on May 23. Swalwell, 38, announced his presidential bid on April 8. A fourth-term Member of Congress from California’s Bay Area, he serves on the House Intelligence and Judiciary committees and co-chairs the Democratic Steering and Policy Committee. Swalwell is also reportedly founder and chairman emeritus of Future Forum, a Congressional caucus of House Democrats that focuses on issues and opportunities for millennial Americans.…

Toyota, UTokyo and Trende to Test Blockchain-Based Electricity Trading System

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The University of Tokyo, Japanese car manufacturer Toyota Motor Corporation and Japanese online renewable energy retailer Trende Inc. plan to jointly conduct tests for a blockchain-powered electricity system. The news was revealed in an official Toyota press release on May 23. The pilot, scheduled for June 17, will reportedly test a peer-to-peer electricity system that allows homes, enterprises and electronic vehicles that are connected to the power grid to trade electricity using blockchain. The initiative will reportedly be focused on Toyota’s Higashifuji Technical Center and the surrounding area. As the…

Binance’s CZ Seeks Compensation From Sequoia for Alleged Reputational, Financial Damage

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Changpeng Zhao, the CEO and founder of major crypto exchange Binance, is seeking damages from venture capital firm Sequoia Capital China for having ostensibly hurt his reputation and unjustly prevented him from raising capital during its now-dismissed legal challenge against him last year. A Binance spokesperson shared the news with Cointelegraph on May 23. Attorneys for Changpeng Zhao — better known in the industry as CZ — filed an application on May 20 with the Hong Kong High Court, seeking an inquiry into whether CZ “sustained any and what damages”…

Known security risks exacerbated by AI

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As part of our AI auditing framework blog series, Reuben Binns, our Research Fellow in Artificial Intelligence (AI), Peter Brown, Technology Policy Group Manager, and Valeria Gallo, Technology Policy Adviser, look at how AI can exacerbate known security risks and make them more difficult to manage. This blog forms part of our ongoing consultation on developing the ICO framework for auditing AI. Personal data must always be processed in a manner that ensures appropriate levels of security against unauthorised processing, accidental loss, destruction or damage. There is no “one-size-fits-all” approach…

Price Dip Leaves Bitcoin Exposed to $7.2K Support

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View Bitcoin suffered a contracting triangle breakdown on Wednesday, as expected. The range breakdown is backed by bearish developments on the daily and 4-hour chart indicators. BTC, therefore, risks falling to $7,206 (May 18 low) in the next day or two. A UTC close below $7,206 would confirm a double-top breakdown and open doors for a drop to $6,070 (target as per the measured move method). The outlook would turn bullish if the price finds acceptance above $8,050 in the next 24 hours. Bitcoin (BTC) dived out of a narrowing…

How to Easily Find a Bitcoin Cash ATM Near You

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Cryptocurrency ATMs are a convenient way to get your hands on digital assets without opening an account with an exchange. Here’s how to easily find an ATM supporting bitcoin cash (BCH) transactions near you, wherever you are in the world. Also Read: How to Buy Pizza With Bitcoin Cash Put BCH ATMs on Your Radar There are more than 1,600 ATMs that offer the buying or selling of bitcoin cash (BCH) all around the globe. To find your nearest location, you can check out Coin ATM Radar, a service that…

Major Swiss Stock Exchange SIX Developing Stablecoin Pegged to the Franc

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Financial service provider SIX is developing a stablecoin pegged to the Swiss franc, a company spokesman confirmed to Cointelegraph on May 23. The company is also planning to launch a blockchain-powered exchange for digital tokens in the second half of 2019, but the spokesman said he was currently not at liberty to discuss further details concerning whether the stablecoin will operate on that exchange. SIX also runs Switzerland’s top stock exchange — and earlier this month, a top executive revealed that the company is planning to issue its own tokens on the upcoming digital exchange.…

Tether Admits Buying Bitcoin with USDT Reserve

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In a court transcript from a May 16, 2019, hearing between the New York Attorney General’s (NYAG) office and Tether, the sister company of Bitfinex, Tether has admitted that some of its reserves were also invested in bitcoin and other digital assets, reports The Block on May 21, 2019. The Showdown Per the report, the court battle between Tether and New York Attorney General’s office is seriously brewing. The controversy revolves around the now open secret that Tether’s USDT tokens are not only backed by cash and cash equivalents, but…