Day: July 19, 2019

Estate agency fined £80,000 for failing to keep tenants’ data safe

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The Information Commissioner’s Office (ICO) has fined a London estate agency £80,000 for leaving 18,610 customers’ personal data exposed for almost two years. The security breach happened when Life at Parliament View Ltd (LPVL) transferred personal data from its server to a partner organisation and failed to switch off an ‘Anonymous Authentication’ function. This failure meant access restrictions were not implemented and allowed anyone going online to have full access to all the data stored between March 2015 and February 2017. The exposed details included personal data such as bank…

Married Singaporean Man Confessed to Hiring a Bitcoin Hitman to Kill his Ex’s Boyfriend

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In Singapore, a married man hired a professional killer on the dark web to kill his former girlfriend’s new lover in a planned car accident. As reported by Yahoo News Singapore, the 47-year-old Allen Vincent Hui Kim Seng hired a hitman on the dark web and paid him with Bitcoin. The deal took place on a website known as “Camorra Hitmen.” However, the hitman couldn’t finish the illicit job as a journalist from the American television network CBS sent a secret warning to the state’s Ministry of Foreign Affairs (MFA).…

Coinbase Drops Its Crypto Bundle Product Without Any Explanation

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Major United States-based crypto exchange Coinbase has discontinued its Coinbase Bundle crypto investment offering, the platform’s updated FAQ site reveals. Coinbase Bundle product is no more Reasons for discontinuation of the product — which had only just launched in fall 2018 — have not been officially provided, with the exchange simply notifying users that: “Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Coinbase Bundle have been redistributed to their respective individual asset wallets.” In a further comment, Coinbase says that while users will no longer…

Crypto Exchange BitMEX Under Investigation By CFTC: Bloomberg

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Seychelles-based cryptocurrency exchange BitMEX is being probed by the U.S. Commodity Futures Trading Commission (CFTC) over client trades. The news appeared on Bloomberg Terminal soon before press time on Friday, and was followed by a tweet from the newspaper’s tech columnist Tim Culpan. He said: Breaking news*U.S. REGULATOR PROBING CRYPTO EXCHANGE BITMEX ON CLIENT TRADES@BitMEXdotcom under investigation, just two weeks after that @Nouriel v @CryptoHayes Tangle in Taipei. — Tim Culpan (@tculpan) July 19, 2019 CoinDesk will monitor the breaking news and update this report as soon as more information is available.…

“Bitcoin Billionaires” Author Says Bezos Would Be a Better Option for Libra

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Photo: Brattle Theatre / Flickr After all the hearings U.S. Congress held overhead of the Libra team David Marcus, there was only one conclusion left – Mark Zuckerberg has to testify himself. It seems Zuckerberg was pretty reckless about planned Libra rollout thinking that this can pass without him sitting again on this chair. Because of that, Facebook’s plan to roll Libra in 2020 – maybe everything else but possible. Ben Mezrich, the author of “Bitcoin Billionaires,” believes that Libra would have had a much better shot if Facebook wasn’t…

U.S. Regulator Investigating Crypto Exchange BitMEX — Report

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United States regulator the Commodity Futures Trading Commission (CFTC) is reportedly investigating derivatives giant BitMEX. CFTC wants to know if Americans using BitMEX According to sources citing people familiar with the matter speaking to Bloomberg, the CFTC suspects that BitMEX, which is registered in the Seychelles, allowed U.S. residents to use its platform to trade. Under current law, the U.S. is one of the countries excluded from using BitMEX and similar crypto-based financial services, but users may have sought to circumvent the geoblock using services such as VPNs. The investigation,…

Mexican Crypto Exchange Bitso Seals DLT License from Gibraltar Regulator

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Mexican cryptocurrency exchange Bitso will from now on be regulated by the Gibraltar Financial Services Commission (GFSC), a July 19 announcement revealed. An apparent first in Latin America In what Bitso claims is an apparent first in Latin America, as of August 1, the custody, withdrawals, deposits and trading of cryptocurrencies on its platform will be overseen by the GSFC under a framework specifically evolved to regulate businesses in the distributed ledger technologies (DLT) sector.  GSFC’s Distributed Ledger Technology Regulatory Framework — finalized in January 2018 — focuses on ensuring…

Binance Jersey Lists Exchange’s Own GBP-Backed Stablecoin

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Fiat-crypto exchange Binance Jersey has listed a proprietary GBP-backed stablecoin, according to a press release shared with Cointelegraph on July 19. ‘Overwhelming demand’ for stablecoin diversification Listing of the Binance GBP Stablecoin (BGBP) confirms earlier indications that the major industry player had its sights on imminently issuing its own fiat-pegged assets, starting with a cryptocurrency 100% backed by the British pound. Binance Chief Financial Officer Wei Zhou has given an official statement, in which he noted that: “There has been an overwhelming demand in the market and Binance community for…

China Ruling Bitcoin Is Property Again Is ‘Major Milestone,’ Says Investor

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Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments. A watershed for Bitcoin in China According to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18.  The second such court to attribute property status to Bitcoin, the ruling came about as part of a dispute between a now-defunct exchange and one of its users who lost funds.  For Wan, the case marks…

Bitcoin Price Jumps $1,000 in Sudden Spike Beyond $10,000; What’s Next?

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On July 18, the bitcoin price experienced an abrupt surge from around $9,300 to $10,500 as the crypto market rebounded, rising by well over $1,000 within minutes, as CCN reported. Following the sudden upside movement, technical analysts still generally remain cautiously bearish towards the short term trend of the dominant crypto asset due to its inability to cleanly break out of a key resistance level at $10,850. Is a move down for bitcoin likely? As said by technical analyst Eric Thies, throughout the run up towards the 2017 bull market,…