A South Korean court has acquitted Bithumb from all wrongdoings after the company was accused by one of its clients in a hacking incident that saw the customer lose thousands of dollars, according to a report filed earlier this week, in the Korea Economic Daily. The customer who brought the lawsuit against the exchange was 30-year-old Ahn Park, who alleged his Bithumb account was hacked on November 30, 2017. The customer had claimed Bithumb had allegedly giving hackers the ability Read more …
In early December, I wrote an article on why investors should be paying attention to MobileGo (MGO). Exploding popularity of the gaming industry and an impressive partnership agreement with Xsolla led to a surge in MGO’s token price. In addition, the team of MobileGo created an application, called GShare, that has the potential to significantly increase MGO token adoption. What is GShare? GShare essentially allows users to rent the power of their computers to earn virtual coins. These coins can Read more …
Projects which had their initial coin offerings (ICOs) on the blockchain of Ethereum have quickly liquidated their ETH holdings since June of 2018. Treasury withdrawals hit a year-high in December with more than 420,000 ETH being liquidated. 420,000 Ethereum Sold in December Upwards of 420,000 ETH has been liquidated from ICO treasuries so far in December, making the month the largest withdrawal period this year according to Diar. The market research firm also reveals some statistics for 2018’s prolonged bear Read more …
In his closing arguments in a Tokyo court, Mark Karpeles, former CEO of collapsed bitcoin exchange Mt. Gox, has restated his innocence in the events that saw the firm lose millions in customer funds and ultimately go bankrupt. He faces charges of embezzling approximately 340 million yen (over $3 million) from the exchange and fraudulently manipulating Mt. Gox data. On Thursday, Karpeles apologized for his failure to protect users’ cryptocurrency from hacking, but stressed he was not guilty on all Read more …
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Last Thanksgiving, Bitcoin was in the middle of a bull run that would result in a record high of $19,511 just before Christmas. Now, Bitcoin is worth just $3,752. If you bought Bitcoin and other Read more …
Major banks are often spewing anti-crypto rhetoric over its potential to be used for money laundering. So it is a little ironic when one of the world’s largest banks gets fined for not doing enough to prevent or detect it. $10 Million Fine For Morgan Stanley An article in the Wall Street Journal yesterday reported that Morgan Stanley had been fined $10 million by Financial Industry Regulatory Authority in a probe into its anti-money laundering (AML) program. On Wednesday Finra Read more …
Asheesh Birla is senior vice president of product at Ripple. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. Industries across the board – from cable companies to grocery stores – are desperately trying to hold on to their most prized possession: the bundle. The conventional wisdom goes “if you control access and distribution then consumers have little choice to go anywhere else.” Unfortunately for sleepy incumbent bundlers, we’ve seen companies like Netflix and Amazon unbundle nearly every part Read more …
Huobi Group has announced plans to lay off staff. Chinese mining giant Bitmain Technology and cryptocurrency exchange operator Huobi Group have both announced plans to lay off staff but for different reasons, per reports on the South China Morning Post (SCMP). Bitmain revealed its intention in a statement quoted by the SCMP, calling the layoffs a “minor adjustment” as it restructures to build a sustainable business following the downturn in the market. The firm added: A part of that is Read more …
Featured Venezuelan President Nicolas Maduro has been tirelessly promoting the petro, ever since his administration announced the creation of what is now considered the first state-issued cryptocurrency. Although no one is really sure whether the coin actually works, Venezuelans have already seen their salaries denominated in the national crypto and their pensions converted to petro. Imposing the virtual currency on other nations, however, is proving much harder. Also read: Private Blockchains Have Few Applications, Study Finds Russia Not Ready for Read more …
A man in Taiwan has been arrested over claims he mined millions of dollars-worth of cryptos using stolen power. According to a report from EBC Dongsen News on Wednesday, a man with the surname Yang is suspected of stealing electricity valued at over NT$100 million ($3.25 million) from various business premises to mine bitcoin and ether. Yang reportedly tapped the power supply at 17 stores in Taiwan for his crypto mining operations. For each illicit mining operation, Yang would first rent an Read more …
This year has been particularly bad for Indian crypto traders and investors with constant government crackdowns and a shroud of uncertainty about the future of the industry in the county. That may be all about to change as a recent report indicates that regulation and legitimization could be on the way in India. India’s Year-long Oppression of Crypto The crackdown culminated with a ban on holding crypto assets as the Reserve Bank of India (RBI) spent the best part of Read more …
2018 is nearly finished and investors are cautiously optomisti about crypto’s prospects in 2019. While it’s great to think positive, what will it really take to turn the market around in 2019? 2018 was a Nightmare As the end of 2018 approaches, there will be a steady barrage of articles writing 2018 off as a fluke correction year for crypto. Readers can also expect to be bombarded with proclamations that all cryptocurrencies have bottomed and 2019 will bring a bull run the likes Read more …