Monthly Archives: June 2020

Even $7.9K Bitcoin Price Won’t Help Bears Ahead of $1B Options Expiry

Even a 15% correction won’t help bears as Bitcoin price remains bullish ahead of Friday’s record $1.06 billion BTC options expiry. This Friday’s Bitcoin (BTC) futures and options expiry has been causing anxiety and excitement amongst traders as the price has oscillated with no clear trend for the past 30 days.  There have been moments of euphoria as the price briefly broke the $10,000 level earlier this month, but recently emotions have become slightly bearish as the market dropped below $9,000 on Wednesday night. Bitcoin (USD) versus […]

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COVID-19 Ransomware Plagues Canadian Android Users

CryCyptor ransomware poses as a government-backed COVID-19 Android tracing app to deploy its attack. A new ransomware called CryCryptor is targeting Canadian Android users. It is distributed via multiple websites that pose as portals for a government-backed COVID-19 tracing app. According to research published by ESET on June 24, CryCryptor appeared shortly after Canada’s government announced a COVID-19 tracing app that utilizes voluntary information submitted by citizens. Source: ESET Once the victim installs the fake app, the ransomware encrypts all files, leaving a “readme” note with the […]

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Wirecard $2 Billion Scandal: Firm Files for Insolvency, Ex-CEO Arrested, User Funds Safe

Scandal-hit crypto card issuer Wirecard AG, a firm that has filed for insolvency because of its missing $2.1 billion – but customer funds appear to be safe, for now. The news comes just two days after former chief executive officer Markus Braun was arrested by German police on allegations of falsifying accounts and market manipulation. Braun, who quit as CEO on June 19, has since been released on €5 million ($5.6 million) bail. In a brief statement Thursday, Wirecard said that its new management led by new […]

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Hedera Expands Reach With BRD Wallet Addition

BRD has added Hedera’s HBAR coin to its digital asset wallet, in addition to the project’s Blockset integration. BRD recently updated its wallet compatibility, allowing storage of Hedera Hashgraph’s HBAR coin.  “In addition to the integration in the BRD consumer wallet, Hedera’s network data will be supported in BRD’s recently launched enterprise-grade blockchain data integration platform Blockset, which powers the BRD consumer wallet,” said a June 25 statement provided to Cointelegraph.  Blockset aids enterprise endeavors Aimed at the enterprise sector, Hedera touts itself as a proof-of-stake, or […]

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Research Suggests Transparency is Key for Utility-Based Crypto Projects

Crypto prices on the secondary market may depend on how much information is given to stakeholders says fintech researchers. Researchers suggest that utility token issuers should provide basic levels of transparency to the public before listing on exchanges. They say that doing so may increase stakeholder confidence and attract new market participants. This is the key to crypto adoption, according to Duke University School of Law’s FinReg Blog on June 25.  Disclosure certain information is key for crypto performance In the blog post, authors Nicholas J. Krapels […]

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SEC Charges Lobbying Kingpin Jack Abramoff With Fraud For Promotion of 2018 ICO

Abramoff and the founder of AML Bitcoin face charges for fraud in misrepresenting the token’s compliance, with the founder himself facing jail time for money laundering. On June 25, the United States Securities and Exchange Commission charged the issuer of AML Bitcoin — not to be confused with Bitcoin itself — with conducting a fraudulent offering. These charges follow up on a criminal filing in San Francisco from June 22.  AML Bitcoin’s story Per the complaints, Rowland Marcus Andrade and his NAC Foundation raised upwards of $5.6 […]

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BTC Payments Reportedly Now Disabled for Venezuelan Passport Purchases

Bitcoin’s payments for Venezuelan passport applications disabled “temporarilyâ€� without official explanation. Venezuela’s Administrative Service for Identification, Migration, and Foreigners, known as SAIME, recently began to accept Bitcoin (BTC) for passport applications from Venezuelan citizens living abroad. As of today, however, officials have disabled the new payment method without explanation. People have reported through social media that SAIME’s website now states this payment type is “temporarily out of service.â€� Still no official response from SAIME Cointelegraph Spanish sent an inquiry to local authorities through Twitter asking why, as […]

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Cybercriminals Use the Blockchain to Relay Secret Messages

SophosLabs published a study that revealed hackers use the blockchain network to share secret messages. A group of researchers from SophosLabs state that hackers operating the cryptojacking malware, Glupteba, have been using the Bitcoin blockchain network to communicate in secret. According to the report published on June 24, cybercriminals rely on a command and control center where they send encrypted secret messages that require a 256-bit AES decryption key. Encrypted messages used to update malware The purpose of the communication channel is for hackers to receive updated […]

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Regional CBDCs Can Fuel International Trade, but USD Seems Unbeatable

As Libra and COVID-19 give a push to CBDCs, some projects are looking to dethrone the main international currency. As central bank digital currencies continue to be researched and tested by countries across the globe, it becomes more apparent that the United States dollar’s reign might be challenged once the concept is implemented on a regional scale. While most retail CBDCs focus on internal economic matters, some projects aim to facilitate trade relations within a specific region, forming a digital alternative to the greenback. The most eloquent […]

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US Senators Introduce ‘Lawful Access to Encrypted Data Act’ — With Backdoor Mandate

US lawmakers have introduced the Lawful Access to Encrypted Data Act to ensure law enforcement can access encrypted information. This bill is “a full-frontal nuclear assault on encryption in the United States,” one expert says. It requires manufacturers of encrypted devices and operating systems to have the ability to decrypt data upon request, creating a backdoor requirement. Lawful Access to Encrypted Data Act Senate Judiciary Committee Chairman Lindsey Graham and U.S. Senators Tom Cotton and Marsha Blackburn introduced the Lawful Access to Encrypted Data Act on Tuesday. […]

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