Day: March 29, 2020

Fake Ledger Chrome Extensions Continue to Steal Crypto From Victims

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Fake Google Chrome extensions for crypto hardware wallet manufacturer and custody provider, Ledger, continue to claim victims. On March 28, a post was published to Reddit by a user seeking to warn others that they had just lost 14,908 Ripple (XRP) (roughly $2,577) to a fake Ledger Wallet extension on the Google Chrome store.  According to the poster, ‘leannekera’, the lost funds comprised a nest egg that she and her husband had been growing since 2017. The wallet that her XRP was sent to quickly forwarded her funds to a…

Canada’s New AML Rules Have Room for Improvement but a Good Start, Eh?

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As the world’s supervisory agencies start to heed the crypto guidelines of the Financial Action Task Force, a new regulatory landscape is taking shape within the crypto industry. The latest country to annex the FATF directives is Canada, but how will the new rules impact crypto business in the country? In a report released March 10, the Financial Transactions and Reports Analysis Center of Canada, or FINTRAC, unveiled plans for an “enhanced AML regime.” Come June 1, 2020, FINTRAC will treat all crypto firms as money service business, or MSB.…

Tech against Corona (COVID-19) – Dutch Enterprise Blockchain Company TYMLEZ Helps Dutch Government

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The “Tech against Corona” Initiative of Dutch tech companies including TYMLEZ offers free support in the fight against the coronavirus (COVID-19). To this end, an online meeting took place on Wednesday 25 March between various tech companies and civil servants, including MPs. The purpose of this meeting was to discuss how these companies can contribute to the fight against the coronavirus through their services and products. In an interview with Blockchain News, Associate Professor at the University of Amsterdam and TYMLEZ CTO Jaap Gordijn stated: “Blockchain can be the enabling…

Maze Hacker Group Claims Infecting Insurance Giant Chubb with Ransomware

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Black hat hacker group, Maze, claims to have used ransomware to compromise the systems of insurance giant, Chubb. They also claim to have stolen the firm’s data. Brett Callow, threat analyst at cybersecurity firm, Emsisoft, told Cointelegraph on March 27 that Maze published the claim on its website. While the website does not provide any direct proof of the hack so far, Callow pointed out facts that give the claim an air of credibility: “Maze’s past victims include governments, law firms, healthcare providers, manufacturers, medical research companies, healthcare providers and…

Book Review – CoinGecko’s ‘How to DeFi’

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Decentralized Finance (DeFi) is certainly the buzz-phrase in the cryptocurrency world right now. But although we are hearing more and more about the potential of this technological breakthrough to revolutionize the world of traditional finance, many are still unsure of what DeFi actually involves. CoinGecko has just released its very first book, called ‘How to DeFi’. This book aims to provide an easy entry point for those wanting to learn about the subject. Why to DeFi After an obligatory slew of quotes from industry figures, recommending the book as the…

Top 5 Cryptos This Week (Mar 29): CRO, XMR, XRP, ADA, XLM

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Most top performers are attempting to climb back after a sharp sell-off. If they can sustain above their immediate overhead resistance levels, a bottom is likely to be confirmed. The coronavirus pandemic has only worsened this week and has engulfed almost the whole world. Several countries in Europe and the US have been the worst affected outside of China where the virus started. While the world attempts to tackle the spread of the virus by lockdowns, it is having a huge negative impact on the economy.  In order to support…

DeFi Cannibalizes Ethereum Block Space

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Data published by Ganesh Swami, the co-founder of Ethereum (ETH) analysis firm, Covalent, indicates that decentralized finance, or DeFi, transactions are representing an increasing share of Ethereum block space at the expense of ETH transfers. Swami analyzed the gas costs incurred by Ethereum transactions over time in order to estimate the share of network activity represented by ETH transfers, simple ERC-20 transactions, and the complex interactions with smart contracts usually associated withDeFI protocols — as each transactional category incurring progressively larger gas fees. DeFi transactions ‘cannibalize’ Ethereum block space Swami…

In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

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Crypto traders and analysts have always looked to the halvings for some kind of clues in order to predict the future price of bitcoin. A number of traders also think that BTC price movements shift every four years and speculators often use the halvings as milestone markers. On March 28, crypto Youtube host and digital currency analyst Benjamin Cowen explained bitcoin’s price doesn’t move in four-year cycles and stressed that the asset is still following the lengthy market phase of accumulation. Also read: ‘Bull Run May Not Come Immediately After…

In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

boss

Crypto traders and analysts have always looked to the halvings for some kind of clues in order to predict the future price of bitcoin. A number of traders also think that BTC price movements shift every four years and speculators often use the halvings as milestone markers. On March 28, crypto Youtube host and digital currency analyst Benjamin Cowen explained bitcoin’s price doesn’t move in four-year cycles and stressed that the asset is still following the lengthy market phase of accumulation. Also read: ‘Bull Run May Not Come Immediately After…

Bitcoin (BTC) Continues to Be Positively Correlated with Equity Markets, Research Says

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According to a report published by The Block, on March 28, 2020, premier cryptocurrency Bitcoin (BTC) continues to struggle to establish its “safe-haven” status amid the ongoing financial crisis courtesy of the devastating COVID-19 pandemic. Bitcoin “Safe-Haven” Status a Distant Dream? Launched in a bid to not allow an encore of the 2008 financial crisis like situation, Bitcoin, for long, has been touted as the “safe-haven” for investment in times of peril, much akin to gold. The first and the largest cryptocurrency in terms of market cap, Satoshi Nakamoto’s Bitcoin…