Day: August 3, 2020

Russian Government Bans Anonymous Wallet Deposits

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The Russian Federation has banned anonymous deposits to online wallets in a move that will affect 10 million users across the country. According to lawmakers, this initiative is supposed to curb illegal activity, such as the financing of terrorism and the illegal drug trade. 10M anonymous wallets are affected Online wallets through services such as Yandex, WebMoney, PayPal, and Kiwi are very popular in Russia. These services maintain approximately 10 million users who use the accounts anonymously by topping them up with cash. Some people use these anonymous wallets to…

Cardano (ADA) Shows Continued Signs of Weakness Despite Bullish Fractal

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Cardano (ADA) has been one of the strongest major cryptocurrencies throughout the past year. The token has been posting consistent gains since the start of the year, which has been driven by massive inflows of new investors as well as some positive fundamental developments. One such development would be the recent Shelley mainnet upgrade, which has long been anticipated by investors. The successful implementation of this upgrade is expected to bring ADA’s usage and utility to the next level. Despite this strength, it has been facing some short-term technical weakness…

Deceived Crypto Investors Launched Their Own Scam to Recoup Losses

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Chinese police have reportedly arrested a group of scammers who launched a faux crypto scheme to recoup their losses after being defrauded by a number of different crypto-related cons themselves. According to an article from the Public Information Network Security Supervision Bureau posted on WeChat earlier today, an investor named Yang created a fake investment scheme after losing around 100,000 yuan (over $14,000) to a crypto MLM project.  After teaming up with two other investors who had similarly been deceived by crypto scammers, Yang launched a fake mobile app and…

NetWalker Ransomware Gang Is Storing $7M in Bitcoin in SegWit Cold Storage

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NetWalker ransomware, which last week triggered cybersecurity flash warnings from the Federal Bureau of Investigation (FBI), has extorted $25 million in bitcoin from its victims during the months of the pandemic, according to a report by McAfee and CipherTrace. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Original

Blockchain Bites: Hedge Fund Down, Banana Bets and the Twitter Hack Fallout

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Another crypto hedge fund is winding down, Huobi launched a new unit to invest in DeFi and the Twitter hacker is reportedly a bitcoin millionaire. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Fund DownNeural Capital, a crypto hedge fund, has closed, having lost half its money since launching in 2017. Three people familiar with the matter said the fund’s crypto-assets were liquidated in December and the fund…

Market Wrap: Bitcoin Rebounds to $11,400 After Flash Crash as Ether Closes In on $400

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Cryptocurrencies are working their way back Monday after Sunday’s big flash crash. A bullish run for bitcoin past $12,131 was interrupted Sunday, as bitcoin endured a sudden drop, losing over $1,400 within a brief period of time. “The market had rallied strongly from $9,000 to over $12,000,” said Rupert Douglas, head of institutional sales for crypto brokerage Koine. “The reaction down was purely to shake out the weak longs who had got in at the higher levels,” Douglas added.  Indeed, hourly liquidations spiked to over $147 million on derivatives platform…

The Ethereum Foundation Is Building a Dedicated Eth 2.0 Security Team

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The Ethereum Foundation will be building a dedicated security team for Ethereum 2.0 to study any potential cybersecurity and crypto-economic issues in the next generation of the Ethereum network. Justin Drake, an Eth 2.0 researcher at the foundation, announced the start of the recruitment process on his Twitter feed. The foundation is looking to hire a variety of security and auditing professionals, both for the software and the general model of the upcoming upgrade. Among the potential team’s tasks will be “fuzzing, bounty hunting, pager duty,” which directly relates to…

Cardano ‘Dwarfs’ Tezos After Shelley Hard Fork, Says Security Auditor

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Quantstamp, a company that has been auditing Cardano’s (ADA) code base for the past two months, believes that after the Shelley hard fork, Cardano will trail only Ethereum (ETH) as a smart contract platform, dwarfing its arch-rival Tezos (XTZ). Cardano’s code base “one of the best” Quantstamp CEO Richard Ma told Cointelegraph that in his opinion, Cardano has some of the best code in all of the blockchain space. He believes it is on par with ETH 2.0’s Prysm: “It’s clear they’ve put a lot of internal effort to solidly…

Gold – a Safe Haven or Another Bubble?

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The gold price has reached all-time highs and breaks new records every week. The market, investors, central banks, the whole world are all-eyes on $2000. Over the past month, gold added 10.83% in price, which is just 1.28% less than the previous record monthly growth achieved in August 2011. Gold is trading above the all-time high of $1921, ahead of an important resistance at $2000. Let’s take a closer at the latest surge and what should we expect next week. Why Is Gold Valuable? In the periodic table, gold is…

BTC, ETH, XRP, BCH, BSV, LTC, ADA, CRO, BNB, LINK

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August 2 the total crypto market capitalization dropped from about $359 billion to $310 billion within a few minutes of Bitcoin (BTC) price surging above the $12K mark.  A fall of such magnitude usually drives away the bulls or at least keeps them at bay until the market stabilizes, but that is not what happened.  The bulls aggressively purchased the dips, which led to a sharp recovery, suggesting that the sentiment is bullish and traders expect the rally to continue in the next few days. Daily cryptocurrency market performance. Source:…