Tag: Blocks

Crypto Exchange JPEX Moves to Deregister Australia Entity, HK Blocks Access

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The troubles of the crypto exchange JPEX can be sensed from its latest move to deregister its local entity in Australia. According to a Cointelegraph report, Jieyi Chen, a Director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has already filed a deregistration application with the Australian financial regulator. Although there is no official confirmation, the deregistration application reportedly claims that all members of the entity agreed to the move as the company is no longer conducting any business. Further, it highlighted that the Aussie entity has less than AU$1,000…

Mantle blocks FTX from converting $43m in BIT tokens to MNT

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Mantle DAO community member proposed restricting FTX from converting $43 million in BitDAO tokens to MNT amid ongoing token migration. A community member within the Mantle decentralized autonomous organization (DAO) has initiated a discussion proposing to restrict the collapsed FTX exchange and Alameda Research from converting their BitDAO (BIT) tokens, worth $43 million, to Mantle (MNT) tokens. The background of this proposal dates back to Nov. 2, 2021, when BitDAO swapped 100 million BIT with Alameda…

Controversy as MakerDAO’s Spark Protocol blocks users with VPNs

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MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol. At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website via VPN is not allowed.” Cointelegraph tested accessing the site with Australian and Singapore-based VPNs and was met with the warning. Source: Spark Protocol The measure appears to be linked to Maker’s attempt to restrict…

Controversy as MakerDAO’s Spark Protocol blocks users with VPNs

MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol. At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website via VPN is not allowed.” Cryptox tested accessing the site with Australian and Singapore-based VPNs and was met with the warning. Source: Spark Protocol The measure appears to be linked to Maker’s attempt to restrict…

Australia’s Bendigo Bank blocks high-risk payments to crypto exchanges

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Australia’s Bendigo Bank has become the fourth major bank in the country to announce blocks for “high-risk crypto payments,” citing the need to protect customers from investment scams. The bank said on July 31 it implemented new rules on instant payments to crypto exchanges which adds “some friction to certain genuine payments,” explained its head of fraud Jason Gordon. It cited combatting fraudulent payments and enhancing protections for its 2.3 million customers as reasons for the blocks. Screenshot of Bendigo Bank’s warning about investment scams. Source: Bendigo Bank A Bendigo…

Judge blocks Bankman-Fried’s attempt to obtain key documents in fraud prosecution: Report

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Sam Bankman-Fried, the co-founder of FTX, has been denied his request to obtain documents from a Silicon Valley law firm, Fenwick & West LLP, as part of his defense strategy in his ongoing federal fraud case, Bloomberg reported. Bankman-Fried had hoped to use thes documents to support his claim that he relied on legal advice while engaging in the activities for which he is currently facing prosecution. In a recent development, Bankman-Fried’s legal team approached the judge overseeing the case, urging the prosecution to hand over the documents obtained from…

Irish data watchdog blocks Google from launching Bard in the EU: Report

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The Irish Data Protection Commission (DPC) has reportedly blocked the launch of Google’s generative artificial intelligence (AI) service, Bard, in the European Union over privacy concerns.  Google launched Bard in the United States, United Kingdom and 178 other countries earlier this year. However, it’s so far been unable to crack the EU. The Mountain View, California company reportedly intended to remedy that during the week of June 13, but as Politico reports, those plans have come to a halt. Per the report, DPC deputy commissioner Graham Doyle stated that Google…

Australia’s Top Bank Blocks Payments to Crypto Exchanges

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In a proactive move to enhance customer safety, the Commonwealth Bank (CBA) today (Thursday) announced it has implemented new measures aimed at protecting customers from fraudulent activities tied to cryptocurrency exchanges. In practice, this means that the bank will be able to block some outgoing transfers to selected cryptocurrency exchanges. However, the institution has not specified which platforms may be specifically concerned. In an attempt to minimize scam risks, from today onwards, the bank will decline or hold for 24 hours certain payments Payments One of the bases of mediums…

Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

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Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential risks. According to the announcement, investment scams account for approximately 50% of all customer losses linked to scams, while around one-third of all scams involve direct transfers to cryptocurrency exchanges, making them extremely difficult to trace. The Westpac ban comes on the same day Binance customers were told they could no longer use PayID to…

Block’s Cash App Q1 report reveals $2b in BTC revenue

Jack Dorsey’s Block recorded a stunning $2.16 billion in bitcoin (BTC) sales in Q1. The fintech company’s main product, Cash App, generated 25% more bitcoin income yearly. The shareholder letter states that the multi-billion dollar bitcoin revenues were attributed to an increase in the quantity of bitcoin sold to customers” and were “partially offset” by a bitcoin market price reduction compared to the same period in 2022. Block’s 2023 Q1 findings The financial technology company had a 26% year-over-year increase in sales during the first quarter, and it also posted earnings per…