Day: August 7, 2019

Bitcoin Research Proves Crypto Is Becoming a Stock Market Hedge

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New research proves that 10 years into its existence, Bitcoin is maturing as a stock market hedge – providing safety from S&P 500 declines. | Source: Shutterstock More than a decade into its existence, Bitcoin is finally maturing into a full-blown stock market hedge. That’s the conclusion of new research from crypto prime dealer SFOX, which indicates that Bitcoin and other major cryptocurrencies like Ethereum have developed a negative correlation with the S&P 500. This means that as the stock market bellwether index falls, the prices of the cryptocurrencies rise…

India’s Police Arrests 4 Crypto Scammers for Defrauding 1,500 Victims in 22 Countries

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Recently, a scam in India was reported to the local Madhya Pradesh Police in which four people are accused of setting up a fake cryptocurrency exchange and manipulating the prices to lure in investors from no less than 22 countries. According to the Special Task Force (STF) of Madhya Pradesh Police, the fraudsters have fooled 1,500 innocent crypto investors from 22 countries and stolen at least Rs. 100 crores (about $14 million) from them. The fraudsters have reportedly created a fake cryptocurrency and a crypto exchange in which to trade…

Online Sentiment Toward Crypto Market in 2019 — Attitudes Are Positive

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Despite all of the bad press that the digital asset industry continues to receive on an almost daily basis, it appears as though the overall sentiment of the online communities in regard to this burgeoning domain is still pretty positive. For example, Comparitech — a research firm that provides its consumers with a host of specialized data that allows one to make more informed decisions — recently used a machine learning-based analysis tool to study more than 48K Reddit posts to determine which cryptocurrencies were viewed most favorably by the…

Binance Rebukes ‘KYC Leak FUD’ as Controversy Roils Bitcoin Giant

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Binance is currently running interference against what it views as a “fear, uncertainty, and doubt” campaign against the Bitcoin exchange giant. The objective of its perceived attackers seems to be making Binance users believe that their know-your-customer or private information is not private at all. The Alleged Leak That Won’t Go Away Rumors of a Binance KYC leak began circulating in January. This reporter was among the first to receive the dumps, but ultimately, investigations were inconclusive. CCN reported on the matter on January 26th. in this group of telegrams…

Binance Rebukes ‘KYC Leak FUD’ as Controversy Roils Bitcoin Giant

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Binance is currently running interference against what it views as a “fear, uncertainty, and doubt” campaign against the Bitcoin exchange giant. The objective of its perceived attackers seems to be making Binance users believe that their know-your-customer or private information is not private at all. The Alleged Leak That Won’t Go Away Rumors of a Binance KYC leak began circulating in January. This reporter was among the first to receive the dumps, but ultimately, investigations were inconclusive. CCN reported on the matter on January 26th. in this group of telegrams…

Scalability Is Key – Blockchain Platforms That Are Pushing On-Chain Scalability Forward

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The blockchain industry remains confident on its way towards mass adoption: at this point, even U.S. Senators agree that the technology’s dominance is “inevitable”. However, there is an Achilles heel: Bitcoin (BTC), at least in its current stage, is bad at scaling, and so are most of the coins. Top coins are lagging behind in terms of speed The problem became evident at the very start — in fact, one of the very first public comments on the Satoshi Nakamoto’s white paper argues that Bitcoin “does not seem to scale…

Confidential UN Report: North Korea Stole $2 Billion from Banks and Crypto Exchanges

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The government of North Korea has managed to swipe $2 billion from cyberattacks on international financial and crypto organizations, and spent that money on its nuclear program. The news came from a classified UN report prepared by an independent team of experts who presented it last week to the United Nations Security Council’s North Korea Sanctions Committee. The report suggests that the North Korean government spent a large amount of money in support of its nuclear weapons program from cyber-attacks on banks and cryptocurrency exchanges. As the report suggests, “North…

Investors Do Not Consider Bitcoin as Safe-Haven: Luno CEO

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Investors are buying bitcoin because they expect extensive returns not because they see it as a safe-haven asset, according to Marcus Swanepoel of London-based cryptocurrency firm Luno. The chief executive officer told Reuters that investors tend to move a small portion of their portfolio to bitcoin in times of market fluctuations. But their intention to move capital into the cryptocurrency market comes from the place of profit-making, not hedging. Investors merely bet on a profitable outcome should it gains global attention as a safe-haven asset, and their speculation could go…

Chinese Gov’t Hackers Are Targeting Crypto Companies: Report

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Chinese state hackers are performing attacks against cryptocurrency and video game enterprises, cybersecurity company FireEye claims in a report published on Aug. 2. Chinese government facilitating hacking operations Per the report, Chinese state espionage cyber unit APT41 “targets industries in a manner generally aligned with China’s Five-Year economic development plans.” Still, FireEye researchers claim that “the group is also deployed to gather intelligence ahead of imminent events, such as mergers and acquisitions and political events.” Industries targeted by the unit reportedly include healthcare, high technology (semiconductors, batteries, and electric vehicles),…

Shenzhen Issued 6 Million Blockchain Invoices in 12 Months

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Major Chinese city Shenzhen has issued nearly six million blockchain-based invoices in a year since their inception in Aug. 2018. Shenzhen processed around $550 million through blockchain invoices in a year According to a report by state news agency Xinhua on Aug. 6, more than 5,300 local companies in 113 sectors have joined Shenzhen’s blockchain invoice program so far. As reported by Shenzhen Municipal Taxation Bureau, the average daily issuance of the invoice is estimated to account for 44,000, while the total value of the invoices has amounted to 3.9…