Day: August 9, 2019

Stolen Binance Funds Still Being Laundered Through Mixers, Researchers Claim

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May’s Binance hacker has been hard at work washing his stolen bitcoins through a mixing service. Clain.io, a Luxembourg-cryptocurrency capital flows research team, says the 7,074 stolen coins are being laundered through mixing service Chipmixer. Clain says at least 4,836 bitcoins were laundered since June 12th. A bitcoin tumbling service mixes a bitcoin’s unspent transaction outputs, or UTXOs, with other users’ coins. Since bitcoins are attached to the publicly verifiable blockchain with UTXOs, mixing services are used to obfuscate transaction histories that follow bitcoins around. Chipmixer was overwhelmed with the…

Disgruntled Bitcoin Investor Brings $22.5M Class Action Suit to Israeli Bank

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An unnamed investor has filed a lawsuit against the Israeli Bank Hapoalim in the amount of approximately $22.5 million, on account of the bank allegedly refusing to accept deposits of profits earned via Bitcoin (BTC).  Industry media outlet BlockTV discussed the lawsuit in a report on Aug. 9. According to the report, the complaint is being filed as a class action suit, and the investor ultimately plans to sue other Israeli banks on the same grounds.  According to the report, Israeli banks are largely anti-crypto because they wish to avoid…

Price Analysis 09/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

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Bitcoin is at a critical level. A breakdown might hurt sentiment across the crypto universe. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Vertical moves are unsustainable in the long run. Hence, it is always better if there are consolidations in between because those levels act as a floor during corrections. Tim Draper…

Can the Fed Kill Bitcoin? Navigating the Chokepoints of Tax Law and KYC

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Taxes. The one word that can kill any buzz in seconds flat. Whether you’re a libertarian ranting about how taxation is theft or one of those fabled creatures who is actually happy to file them as their so-called civic duty, one fact remains: those who don’t give the government a bite — or make mistakes in attempting to do so — can get chomped, and hard. Ominous tax laws and ever-increasing state requirements for exchanges have some wondering if these maladies could stall the Bitcoin revolution. Also Read: From Spartacus…

Texas Securities Watchdog Shuts Down Craigslist Crypto Scammer

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Authorities in Texas have issued a cease and desist order against an alleged crypto scammer operating on Craigslist. According to an Aug. 7 announcement, the Texas State Securities Board (SSB) enforced an emergency action against New York-based purported investment provider Forex and Bitcoin Trader. The SSB states that this is the fourth such action since the regulator started a second investigative sweep of suspect fraudulent crypto offerings in late June. Purported investment returns of 900% According to the Emergency Cease and Desist Order, Forex and Bitcoin Trader was advertising its…

Binance Considering Support for 30 Tokens for US Customers

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Major cryptocurrency exchange Binance has announced that it is expanding the number of digital assets available to United States-based customers. Per a blog post published on Aug. 9, Binance is considering support for 30 digital assets on the Binance US marketplace, its cryptocurrency exchange platform accessible to U.S.-based customers. Major tokens under consideration include Bitcoin (BTC), EOS (EOS), Ether (ETH), Cardano (ADA), Cosmos (ATOM), Basic Attention Token (BAT), Tether (USDT) and VeChain (VET), among several others. Tokens under consideration for Binance US. Source: Medium Binance is evaluating the above tokens…

Grayscale Believes Bitcoin can Insulate Modern Portfolios from Drawdown

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A new report from Grayscale Investments confirms a few significant data points that conclude Bitcoin can be considered a safe-haven asset. While the genesis cryptocurrency has not yet seen a recession, many believe that it will be a wealth creator in distressed scenarios when stocks and bonds are underperforming, August 8, 2019. Global Troubles and Bitcoin With an impending economic slowdown in the works, advocates for Bitcoin have been pushing the narrative that it can be considered a safe-haven asset. Broad drawdowns in global markets have been fuelled by debt,…

Researchers Discover New Cryptocurrency-Focused Trojan

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Computer analysts at cybersecurity firm Zscaler ThreatLabZ have found a new type of trojan that targets cryptocurrency users. In a blog post published on Aug. 8, the company reveals that it identified a new remote-access trojan (RAT) that is able to capture administrative control of the targeted computer, retrieve browser history and look for activities involving cryptocurrency, credit cards, business, social media and others. The malware is called Saefko and is written in .NET, a software framework developed by Microsoft and used to develop a wide range of applications. The…

BTC-e’s Vinnik Case Drags on as New Accusations Continue Emerging

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On July 25, 2019, United States prosecutors filed a complaint against the defunct cryptocurrency exchange BTC-e and its alleged former operator, Alexander Vinnik. The indictment was filed nearly 24 months after Vinnik was arrested in Greece while on holiday with his family and has followed numerous extradition requests from the U.S., France and Russia that have seen Vinnik’s case appear to morph from an investigation into alleged money laundering to a tug-of-war over a strategic intelligence asset between the U.S. and Russia. Vinnik’s arrest in July 2017 On July 26,…

15 Countries to Develop Crypto Transaction Tracking System: Report

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About 15 global jurisdictions, including the G7 countries, will reportedly develop a system for tracking crypto transactions to prevent illicit uses of cryptocurrencies. The Financial Action Task Force (FATF) is planning to prepare detailed measures by 2020, according to a report by Tokyo-based newspaper Nikkei on Aug. 9. The new system intends to collect and distribute personal data on individuals who conduct crypto transactions in order to prevent funds from being used for illegal activities such as money laundering and terrorism financing, the report notes.  While a number of global…