Month: September 2023

HK regulator vows to intensify crackdown on unregistered crypto platforms

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Hong Kong’s financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdiction According to a Sept. 25 announcement, the SFC said it will publish a list of all licensed, deemed licensed, closing down and application-pending virtual asset trading platforms (VATPs) to better help members of the public identify potentially unregulated VATPs doing business in Hong Kong.  Additionally, the SFC said it will issue a dedicated list of “suspicious VATPs” which will be featured in an easily…

Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet

Bitcoin price is again moving lower below the $26,500 support. BTC remains at risk of more losses below the $26,000 support in the near term. Bitcoin started a fresh decline after it failed to clear the $27,500 resistance. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $26,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides below the $26,000 level. Bitcoin Price…

JPEX scandal masterminds still at large as 11 suspects taken into custody: Report

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The masterminds behind Hong Kong’s JPEX alleged crypto exchange scandal — referred to by some as the largest financial fraud to ever hit the city — have eluded authorities despite 11 people already being taken in for questioning in relation to the case. According to a Sept. 23 report from the South China Morning Post, police have now received more than 2,265 complaints from victims of the exchange, with the total monetary value of the fallout estimated to be in the vicinity of $178 million (1.4 billion Hong Kong dollars).…

Crypto exchange Upbit stems fake APT token flood, resumes services

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South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal. On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system. The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21. The fake token was likely part of a typical…

Graffiti artists Street Cy₿er are painting the town Bitcoin

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From skate parks and construction sites to train stations and bus stops, a pair of Bitcoin-loving graffiti artists from Barcelona, Spain have been working tirelessly to spread the good word about Bitcoin. Street Cy₿er, a collective of artists and enthusiasts, has been creating Bitcoin (BTC) street art all over Europe since its formation in January 2023 to raise awareness about the cryptocurrency. One of Street Cy₿er’s co-founders, “Street,” told Cointelegraph that the crew is made up of over 100 educators, enthusiasts, artists, musicians, activists and journalists. Their efforts can be…

CREAM price skyrockets 60%; pump and dump scheme?

Cream Finance’s native token, CREAM, has experienced a 60% price surge, making it the star of the weekend in the decentralized finance (defi) sector. Per data from CoinMarketCap, captured by blockchain analysts Lookonchain, the price of Cream Finance’s CREAM token surged by more than 60% on Sept. 23. CREAM price chart | Source: CoinMarketCap via Lookonchain According to Lookonchain, the token’s impressive rise is primarily credited to Jeffrey Huang, better known as Machi Big Brother, whose strategic maneuvers in the crypto market have been the subject of past controversies. Lookonchain’s…

Pay-to-use blockchains will never achieve mass adoption

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Pay-to-use blockchains are done. Not for us, of course — the nerdy crypto crowd. We’re perfectly happy to open wallets, engrave seed phrases on steel cards we bury in the ground, find exchanges we haven’t been blocked from yet, wrap some assets to leverage yield, and become OpSec professionals while we pray to the blockchain gods that the North Koreans aren’t online right now. We’re fine with this. Years of experience have dulled the pain. But the mass adoption we all hoped for? It relies on the 99% of people…

Former SEC attorney John Reed Stark urges DOJ to ‘wake up’

A former attorney of the U.S. Securities and Exchange Commission (SEC) believes prosecution by the Department of Justice (DOJ) is necessary to deal with crypto grifters. John Reed Stark, who spent 15 years as an SEC enforcement attorney leading cyber-related investigations, says crypto criminals treat regulatory enforcement with levity. DOJ prosecution in crypto-related fraud cases was lacking compared to the numerous enforcement actions by the SEC, he wrote on X. The situation is “mind-boggling,” Stark added. SBF’s Mom and Dad: Criminal Beneficiaries, Profiteers, Conspirators and Enablers I served for almost…

Worldcoin’s World ID surpasses 1% of Chilean population

The digital identity project Worldcoin has garnered significant interest in Chile, with over 200,000 verified users since its launch in July 2023. In a Sept. 24 blog post, Worldcoin announced that more than 200,000 Chileans had signed up for its global identity protocol, World ID. For a country boasting a population of approximately 19.5 million, these figures represent over 1% of the citizens. According to Worldcoin, to cater to its burgeoning demand, new operations have been kick-started in the cities of Vina del Mar and Concepcion via its project contributors,…