Category: News

Female Hacker Fesses Up to 100,000 XRP Fraud Down Under

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Another day, another cryptocurrency theft. | Source: Shutterstock By CCN Markets: 7News Sydney reports that Katherine Nguyen is the first-ever Australian resident to plead guilty for cryptocurrency fraud after stealing 100,000 XRP. In 2018, twenty-four-year-old Nguyen hijacked the email account of an elderly man of the same surname for two days before handing back access. The first person charged over cryptocurrency fraud has pleaded guilty, swindling almost half a million dollars worth of the currency known as Ripple. Katherine Nguyen made no apology to her victim, aware she could be…

5 Reasons to Start a Crypto Trading Business in Hong Kong

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The majority of businesses require a significant amount of money as starting capital. Moreover, one must also have a full-fledged business plan to succeed in the business field. However, these factors differ while dealing with the trading business. Today, Hong Kong and startup business go hand in hand. Hong Kong has been a launchpad for a number of well-known businesses around the world. However, with time and advancement of technology, business opportunities in Hong Kong have also taken a new shape. Unlike older times where trading meant bonds and stocks,…

US State Secretary Pompeo: Same Regulatory Framework to Crypto as SWIFT Is Required

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U.S. Secretary of State Michael Pompeo expressed his belief that cryptocurrencies and other crypto assets should be regulated in the same way that SWIFT and other financial institutions are. He made these comments in an interview with CNBC’s Squawk Box on Tuesday (transcript). Regulation of crypto assets has been a hot topic in the crypto community for a while now. Crypto-focused institutions have been clashing with financial regulation institutions all over the world. Pompeo’s comments might be an indication of what the crypto community can expect in the future in…

Crypto Custodian BitGo Announces EOS Support

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Cryptocurrency trust and security company BitGo has announced the launch of a multisignature wallet and custody service for EOS. According to the news release published on Aug. 22, BitGo officially added EOS to the list of its supported assets. The firm’s chief technology officer Ben Chan said: “The EOSIO software has some innovative differentiators like its high transaction capacity and fee model that required our engineering team to scale our platform. We were able to successfully create an experience for EOS users that is seamless and consistent with how we…

US Treasury Blacklists Bitcoin Addresses Affiliated with Chinese Drug Lords

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Three Chinese nationalists have been charged under the Foreign Narcotics Kingpin Designation Act (Kingpin Act) by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Treasury’s Financial Crimes Enforcement Network (FinCEN). The accused were using cryptocurrencies for money laundering. According to the allegations, the three manufactured and distributed “synthetic opioids or their precursor chemicals.” The department announced strong legal actions against the three for manufacturing, selling, and distributing these substances illegally. According to OFAC, the individuals used Bitcoin(BTC)trade to launder the money and transfer the funds…

Bitcoin (BTC) Price Weekly Forecast: Remains Sell Until This Changes

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There was a downside extension in bitcoin price below the $10,000 support against the US Dollar. The price is currently consolidating and is facing many hurdles on the upside near $10,400. There is a crucial bearish trend line forming with resistance near $10,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). There could be a strong upward move if the price surges above $10,400 and $10,500. Bitcoin price is facing an uphill task near $10,500 and $10,680 against the US Dollar. BTC remains in a downtrend…

Ethereum Price Weekly Forecast: ETH Trading Near Crucial Juncture

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ETH price remained in a bearish zone and even tested the $180 support area against the US Dollar. The price is currently correcting higher, but it is facing hurdles near $192 and $195. There is a significant bearish trend line forming with resistance near $192 on the 4-hours chart of ETH/USD (data feed via Kraken). An upside break above $192 and $195 might trigger a solid recovery in the near term. Ethereum price is currently facing a strong resistance against the US Dollar and bitcoin. ETH remains at a risk…

Bitcoin History Part 16: The First Mt. Gox Hack

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No one remembers the first Mt. Gox hack. It was a small sum, even by 2011’s standards, and the exchange reimbursed all users. The incident was to prove significant, however, for it set in motion a string of attacks on other bitcoin platforms that began the very next day. By the time the dust had settled six weeks later, four separate thefts had occurred, culminating in the loss of more than 178,000 bitcoins. Also read: Bitcoin History Part 15: Silk Road Is Born The First Bitcoin Exchange Hack Summer 2011…

Huobi Processed 50% of All PlusToken Withdrawals This Month: Report

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Chinese crypto exchange Huobi has seen the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken to date, new research says. Chinese exchanges prevail New York-based blockchain infrastructure firm Elementus released a study on Aug. 23, claiming that the number of PlusToken withdrawals sent to Huobi exchange has accounted for nearly 50% so far. As Cointelegraph reported earlier in August, PlusToken apparently began a mass sell-off of Bitcoin (BTC) that may have been to blame for a $400 dip in BTC’s price over a matter of minutes.  According…

Crypto News From the German-Speaking World: Week in Review

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The German-speaking world was highly active as far as crypto was concerned this past week. Among other stories, the German Federal Financial Supervisory Authority (BaFin) issued several items of interest to the crypto community, a new fund for blockchain startups launched in Hamburg and an Austrian crypto ATM service filed for bankruptcy following an armed robbery. On Aug. 16, the BaFin published a leaflet for issuers of crypto tokens that summarized current German legal standards in the field. By condensing active regulations in such a fashion, the BaFin reportedly hopes…