Korea’s Largest Crypto Exchange is Moving to Japan, Outrage From Investors

Bithumb, the largest crypto exchange in South Korea by trading volume and user base, is expanding to Japan– the biggest market for cryptocurrency investors, despite the controversy surrounding its recent security breach. Is Expansion the Right Decision? In June 2018, CryptoSlate reported that Bithumb was hacked for $31.5 million through a breach in which local … [Read more…]

Korea Blockchain Weeks Seek to Solve Some of Crypto’s Most Pressing Problems

South Korea has always played a crucial role in crypto development and proliferation. As one of the most technologically connected societies in the world, South Korea is ideally positioned to participate in the burgeoning crypto movement. In fact, despite a relatively small population, South Korea only falls behind Japan and the U.S., two countries with … [Read more…]

Ethereum Network Under Assault: Gas Price Manipulation May Indicate Covert EOS Attack

The Ethereum network is currently under heavy load as gas prices soar due to a flood of transactions. While Ethereum gas prices and transaction load typically fluctuates in accordance with market activity, a dramatic surge in suspicious transaction volume suggests that the Ethereum Network may be the target of a coordinated attack — with experts … [Read more…]

Billionaire Investor Steven Cohen Joins Crypto Hedge Fund

Billionaire hedge fund manager Steven Cohen has joined the ranks of financial juggernauts participating in the cryptocurrency feeding frenzy, announcing an investment in a new hedge fund focused on cryptocurrency investment and blockchain startup equity. Cohen, who ranks as 8 on the Forbes 400 Self-Made Score and currently oversees Point72 Asset Management, a $12 billion … [Read more…]

Bank of Thailand Considers Blockchain for Economy Expansion

On July 12th, 2018, governor of the Bank of Thailand, Dr. Veerathai Santiprabhob, alluded to the use of blockchain technology as part of a national effort to further Thailand’s economic potential during his speech at the Bloomberg ASEAN Business Summit. In the speech, Santiprabhob laid out the responsibility of the Bank of Thailand as being: “the … [Read more…]

New Electricity Tariffs Introduced for Cryptocurrency Miners in Upstate New York

Cryptocurrency miners face newer tariff rates in New York after the city’s State Public Service Commission (PSC) approved new rules qualifying high-density load customers under an individual service agreement. Mining Qualifies Under Service Agreement As reported by Bloomberg on July 13, 2018, the PSC introduced the latest electricity bill for the Massena Electric Department, entailing all … [Read more…]

Crackdown: Chinese Authorities Confiscate $1.5 Million in Cryptocurrencies in FIFA Gambling Racket

Authorities in the Guangdong district of Southern China announced on July 12, 2018, an illegal gambling racket involving cryptocurrencies has been dismantled. Bitcoin Gambling Busted As reported by South China Morning Post, local police made 540 arrests, confiscated digital currencies worth 10 million yuan ($1.5 million), and froze over 5 million yuan ($700,00) stashed in … [Read more…]

Russian DNC Hackers Used Bitcoin to Fund Operation

Even prior to Donald Trump’s November 2016 U.S. presidential election, the notion of Russian interference in the election was under investigation by U.S. intelligence agencies. One of the first events to transpire was a malicious hack on the Democratic National Committee (DNC) and Hillary Clinton’s `presidential campaign.  On March 16, 2016, Wikileaks published a searchable … [Read more…]

Coinbase CTO: Crypto Has Bubble-Crash-Build Phases, Crucial For Rallies

Balaji Srinivasan, the chief technical officer (CTO) at Coinbase, the world’s largest crypto brokerage, exchange, and wallet platform, said at the TechCrunch Sessions Blockchain held in Zug, Switzerland that he initially bought Bitcoin in 2009 to combat the US dollar inflation and devaluation. During the TechCrunch:Sessions Fireside Chat, Srinivasan said: “I’ve been thinking about what is … [Read more…]

Kaspersky Labs Reveals Tactics Used by Criminals to Steal Cryptocurrencies

Cybersecurity software company Kaspersky Labs examined several instances of cryptocurrency-related crime to determine various tactics used by criminals when attempting to steal digital assets. 21,000 ETH Stolen in 2017 On July 10, 2018, local Russian news outlet Pravda reported the findings of Kaspersky Lab’s software solutions deployed to prevent nefarious characters from conducting cryptocurrency robberies … [Read more…]