South Korea cryptocurrency exchange Coinbit seized by police for allegedly making false transactions to obtain 100 billion won ($84m). As per the report from Seoul Shinmun, South Korea’s oldest newspaper, police accused Coinbit Owner Choi Mo and other managers for handling multiple accounts, controlling cryptocurrency prices, and raising transaction volume.
According to blockchain security firm Slowmist, hackers have looted the crypto industry of more than $13 billion in 290 different hacks. As the crypto industry grows, the exploits seem to happen weekly either on an exchange, a blockchain, or a crypto wallet. The crypto users and investors must take precautions
Bitmex, a cryptocurrency derivative exchange will restrict access to users from Ontario, Canada, starting from Sep. 1, 2020, restrictions are mandated by the Ontario Securities Commission (OSC). The Ontario Securities Commission (OSC), an independent Crown corporation, responsible for regulating the capital markets in Ontario. OSC’s statement comes not long after
On August 16, Standard Chartered Bank successfully leveraged blockchain technology to conduct Bangladesh’s first blockchain transaction by issuing a Letter of Credit (LC) for Viyellatex Ltd. Standard Chartered Bank is the biggest international bank in Bangladesh, with a presence of over 115 years in the country. Viyellatex Ltd is a
On Tuesday, Nasdaq-listed and publicly-traded business intelligence firm MicroStrategy has purchased 21,454 bitcoins at an aggregate price of more than $250 million, adopting the crypto as its primary treasury reserve. Microstrategy’s investment in Bitcoin is only a part of its new capital allocation strategy, which seeks to maximize long-term value
The social media giants Google, Facebook, and Twitter are facing a $300 billion class-action lawsuit by cryptocurrency entrepreneurs, individuals, and companies for banning crypto and blockchain ads. JPB Liberty said, “A class action will be brought in the federal court of Australia against the social media giants’ Australian subsidiaries and
Bitso, a Ripple and Coinbase-backed crypto exchange in Latin America, has hit 1 million registered users prior to its upcoming launch in Brazil. Bitso was officially launched in Mexico in 2014 through which users can buy, sell, or transfer crypto. As of now, it has raised over $4 million in
On July 8, Crypto asset Dogecoin (DOGE) surged 50% due to a fresh viral TikTok campaign that encouraged users to pump the coin, leading to an appeal to speculators from its twitter account. DOGE is warning traders against speculation after its price gain. In a tweet, the controller of the
On July 7, Binance announced its partnership with Etana Custody for a new fiat gateway that provides deposit services for 15 fiat currencies. Through Etana, Binance users are now able to deposit 15 new fiat currencies which include UAE dirham, Australian dollar, Canadian dollar, Swiss franc, euro, Checz koruna, British
