Monthly Archives: April 2019

Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million. What does the news mean for Bitfinex, Tether […]

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Austria Considers Establishment of Fintech Regulatory Sandbox

The Ministry of Finance in Austria is considering the establishment of a regulatory sandbox for the fintech industry. The Ministry of Finance in Austria is considering establishing a regulatory sandbox for the fintech industry, Cointelegraph auf Deutsch reports on April 26. The country’s Finance Minister Hartwig Loeger said that the FinTech Advisory Council — which was formed by the Ministry of Finance last year —  will aid in the development of relevant rules to steer the “young financial market around digitized financial services,” including initial coin offerings […]

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Marco Polo Onboards Three New Members to Its Trade Finance Network

DLT-based trade finance network Marco Polo has onboarded three new members for piloting and evaluating purposes. Distributed ledger technology (DLT)-based trade finance network Marco Polo has onboarded three new members for piloting and evaluating purposes, according to an announcement published on April 25. Marco Polo Network is a joint undertaking with tech firm TradeIX, enterprise software company R3, and other 20 international financial institutions. The initiative provides a multi-asset class platform that offers broker dealer services, multi currency transactions, including equities, options, futures, and other related services. […]

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New Cryptojacking Campaign Infects Asia Using More Profitable Tactics

Cryptojacking — the process of infecting computers with malware to mine cryptocurrency — has declined alongside prices during cryptowinter. But like any dextrous organism facing extinction, the virus and its propagators are adapting. According to a report by cybersecurity analytics firm Symantec, cryptojacking incidents have plummeted 52 percent since January 2018, but the method of delivery, the execution and the targeting schemes have grown more sophisticated. Specifically, Symantec’s latest report focused on Beapy, a cryptojacking campaign sweeping through Asia by taking specific aim at business and enterprise. […]

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Iran’s First Ever Bitcoin ATM Unveiled in Tehran

On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran. Footage of the event was captured by a film crew working for German news agency Ruptly, a part of Russia Today’s greater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not wheeled into the conference from some overseas […]

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Crypto Wallet Startup Ledger Detects Phishing Malware Targeting Desktop App

Hardware crypto wallet manufacturer Ledger has detected malware targeting its desktop app. Hardware cryptocurrency wallet manufacturer Ledger has detected malware targeting its desktop application, according to a tweet on April 25. Ledger warned its users that the malware locally replaces the Ledger Live desktop app with a malicious one, and advised to follow security practices published on its blog. The company’s Twitter announcement specifically reads: “WARNING: we’ve detected a malware that locally replaces the Ledger Live desktop application by a malicious one. Users of infected computers are […]

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KuCoin Exchange Blocks Crypto Wallet Allegedly Involved in RChain Token Scam

Blockchain firm RChain informed clients that the firm suffered a scam involving an escrow transaction with counterfeit money. Singapore-based crypto exchange KuCoin has blocked a crypto wallet that is allegedly involved in a recent RChain (RHOC) token scam, RChain wrote in a blog post on April 26. RChain, the blockchain firm behind RHOC coin, informed its users that the company suffered a scam involving an escrow transaction containing counterfeit money. In the apparent deal, RChain was set to send 11 million RHOC tokens to its partners who […]

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Insurance Broker Marsh Rolls Out Proof of Insurance Blockchain App to US Clients

First launched as a PoC in April 2018, Marsh’s proof of insurance blockchain platform is set to be rolled out soon to U.S. clients. Canada-based global insurance broker Marsh will soon roll out its proof of insurance (POI) blockchain platform to American commercial clients, the firm announced in a press release on April 25. First launched as a Proof of concept (PoC) in April 2018, Marsh’s POI platform will purportedly provide more certainty of insurance coverage as well as speed up business processes. Marsh clients will soon […]

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DAI Has Been Struggling to Maintain Its $1 Peg, but the MakerDAO Community Believes It Will Soon Be Crypto’s ‘Default’ Stablecoin

Supply, demand and the April bull market: Why MakerDAO’s DAI hasn’t been all that stable. Stability has become a holy grail for the crypto market, and right now, one of the biggest stablecoins is MakerDAO‘s DAI. Launched in December 2017 as an ERC-20 token, it’s pegged 1:1 with the United States dollar, with its peg being maintained via over-collateralization with ether (ETH). In other words, users receive the equivalent of $1 in DAI by depositing more than $1 in ETH, and they can later reclaim their collateral […]

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It Looks as if Another Darknet Market Era Is Coming to an End

Major darknet markets come and go in eras, so it seems, and the current one may be ending. Two of the biggest digital black markets seem to be disappearing, both at the same time. While it is notoriously hard to find reliable information about the status of these highly illegal endeavors, messages on darknet-specific forums like Dread and reports by darknet-focused news sites like Deep Dot Web indicate that digital black markets Dream Market and Wall Street Market have both become unusable. The former has halted trading […]

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