16 Feb 2021

Bitcoin Trades Above $50,000 for First Time

On Tuesday, Bitcoin reached $50,000 for the first time. The cryptocurrency’s value has doubled in less than two months as the total market value of the bitcoins in circulation hits $940 billion. The digital currency was traded as high as $50,203.53 this morning, up 4.2% and more than 73% for

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11 Feb 2021

UN Links North Korea to $281m Crypto Exchange Heist

Last September, the KuCoin cryptocurrency exchange experienced a cyberattack in which hundreds of millions of dollars in digital money was stolen. The United Nations recently released a report strongly suggesting that North Korean actors were behind the cyberattack, claiming that investigators had revealed the identifies of the attackers. Although this

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10 Feb 2021

Wallstreetbets’ Denial of Hedge-Funding Hack Could Slow DeFi Boom

Last month’s market anarchy, where two-million-plus (at the time), day-trading individual investors unleashed the peer-to-peer power of social media to crush some of Wall Street’s top hedge funds, may indicate a coming use of existing legislative and regulatory methods to not only mitigate the ability of small investors to disrupt market, but, according to our research, spell increased regulations for the world of decentralized finance (DeFi).

The ‘wallstreetbets’ forums on Reddit and Discord allegedly sparked the madness as mostly young investors pumped share prices in companies hedge funds has shorted (like video game retailer GameStop) over 1,625% last month. Market mania swept online message boards, as GenY and Z traders piled into online brokerages like Robinhood and TD Ameritrade en masse to squeeze institutional short sellers like a vice.

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08 Feb 2021

Tesla Buys $1.5 Billion in Bitcoin

On Monday, Tesla announced that it had invested $1.5 billion in bitcoin and is planning to seek options for accepting the cryptocurrency as payment for its products in the near future. The purchase sent the price of bitcoin soaring after the Monday announcement, which was included in Tesla’s latest annual

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25 Jan 2021

Crypto-Jacking Campaign Linked to Iranian Company

Researchers at British anti-malware vendor Sophos traced recent crypto-jacking attacks targeting SQL servers back to an Iran-based software company. The attacks consisted of threat actors installing the MrbMiner crypto-miner on target servers, utilizing software created, controlled, and hosted by an Iranian company. Sophos stated that they were unable to determine

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19 Jan 2021

Livecoin slams its doors shut after failing to recover from hack, financial loss

The Russian cryptocurrency exchange company Livecoin has announced that it is shutting down permanently due to a cyberattack in which cybercriminals took control of Livecoin systems. The cyberattackers were aiming to tamper with exchange values. Exchange rates for currencies such as Bitcoin were changed by thousands of USD. Livecoin requested

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13 Jan 2021

RG Coins cryptocurrency exchange owner lands 10 years behind bars for money laundering

Rossen Iossifov was the Bulgarian owner of RG coins and has been sentenced to 10 years in prison. He was sentenced after his actions of laundering millions of dollars from defrauded victims. The stolen money was converted to cryptocurrency and moved through cryptocurrency exchanges to hide the source of the

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05 Jan 2021

Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities

Yesterday, the Office of the Comptroller of the Currency (OCC) released a letter stating that national banks’ and federal savings associations’ had the authority to participate in independent node verification networks (INVN). The letter also clarifies that these entities can use stablecoins to conduct payment activities and other bank-permissible functions.

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30 Dec 2020

Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple

On Tuesday, January 19 cryptocurrency trading firm Coinbase plans to fully suspend trading of XRP, the currency in which the US Securities and Exchange Commission sued Ripple Labs over last week. Coinbase first listed XRP on its retail platforms in February of this year. However, after just under a year

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28 Dec 2020

Russian crypto-exchange Livecoin hacked after it lost control of its servers

On December 24, Russian cryptocurrency exchange Livecoin released a post stating that they had been the target of a cyberattack leading to loss of control over some of its servers. The warning advises customers to temporarily refrain from using its services, including depositing funds, making trades, and using API. The

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