With the widespread boom in the cryptocurrency market, there has been a significant increase in crypto-related crimes worldwide. One of the most targeted groups in these scams are elderly individuals who are often manipulated by fraudsters into exchanging their funds for crypto by offering unrealistic promises of high investment returns. Authorities in South Korea recently
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In response to the recent attacks on Israel, both the US and UK authorities have taken decisive action against entities suspected of financing terrorism through cryptocurrency. The US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) have imposed sanctions on two individuals and three entities allegedly involved
The Financial Conduct Authority (FCA) in the UK is making moves to regulate meme-based marketing in the financial services sector. With the rising popularity of cryptocurrencies and other investments, the FCA has released guidelines for both financial services firms and social media influencers to ensure transparency and prevent misleading advertising. The FCA’s latest report underscores
Tigran Gambaryan, a prominent figure at Binance, has recently taken legal action against the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria. As an American citizen, Gambaryan is fighting against his alleged wrongful detention by Nigerian authorities. According to Gambaryan’s lawyer, T.J. Krukrubo SAN, the Nigerian government is using
Kerrisdale Capital recently released a report arguing that MicroStrategy’s shares have become significantly overvalued in comparison to the actual value of Bitcoin. The company pointed out that the premium at which MicroStrategy’s shares are trading, at over two and a half times the spot price of Bitcoin, is unjustified. In fact, Kerrisdale Capital believes that
Prisma Finance recently fell victim to a hack where $11.6 million was stolen from the decentralized finance protocol. The hacker, however, claimed that the exploit was a “whitehat rescue” and expressed interest in returning the funds. This indicative behavior of the hacker raises questions about the motives behind the attack and whether the funds will
Guy Turner, the host of Coin Bureau, has made a bold prediction regarding SOL’s potential breakout above the $300 mark. According to Turner, SOL has shown promising signs on both weekly and monthly charts in the early months of 2024. He describes the cryptocurrency as “incredibly bullish” and highlights the significant resistance at the $300
Matt Hougan, the Chief Investment Officer of Bitwise, a crypto index fund and asset management firm, recently shared his insights on the future of spot Bitcoin exchange-traded funds (ETFs). According to him, he believes that inflows into Bitcoin ETFs will continue for years as more investors and institutions adopt these products. During a 20-day road
The recent accusations against major cryptocurrency exchange KuCoin and its founders, Chun Gan and Ke Tang, have shed light on the alleged failure to implement anti-money laundering (AML) and know-your-customer (KYC) procedures. Prosecutors in the United States have claimed that this negligence allowed the platform to become a hub for laundering illicit funds from criminal
Over the weekend, the crypto world was abuzz with news of a massive transfer of funds from the fifth richest Bitcoin address. A staggering $6 billion worth of Bitcoin was moved to three new wallets, leaving just a fraction of the original funds in the original address. This unprecedented transfer comes at a time when
Ark Invest recently made headlines with their decision to sell 74,291 Coinbase shares, valued at $20.8 million, across three of their exchange-traded funds. This move comes shortly after the firm sold over $100 million worth of Coinbase shares last week as the price of COIN reached new yearly highs. One of Ark Invest’s strategies is
CommEX, a crypto exchange that once took over Binance’s operations in Russia, has recently declared its decision to close its operations in the country. The announcement came after Binance’s exit from the Russian market in September 2023, with a projected timeline of one year for the process to be completed. CommEX Russia shared in a
Bitcoin’s price has been experiencing a period of sideways consolidation around the significant $60K price level. Although there was a surge towards the all-time high of $73K, the price has since corrected and found support between the 0.5 ($62K) and 0.618 ($59.5K) Fibonacci retracement levels. This consolidation phase has increased buying pressure, leading to a
The legal battle between Ripple and the US Securities and Exchange Commission (SEC) is reaching its trial phase scheduled for April 23. However, before reaching this crucial point, both parties have been required to address certain court requirements. Recently, the entities demonstrated a collaborative effort by filing a joint letter to tackle sealing issues related
In a recent development, U.S. District Judge Robert Shelby found the Securities and Exchange Commission (SEC) guilty of serious misconduct in the legal action against Utah-based cryptocurrency firm DEBT Box. The judge accused the SEC of a “gross abuse of power” in handling the case and highlighted multiple instances of “bad faith” conduct. This decision
Bitcoin’s price movements over the weekend have been somewhat underwhelming as the asset has calmed at just over $64,000 after the previous week’s volatility. The altcoins are, in general, also less volatile today, with a few exceptions like Dogecoin, which has surged by around 7%. Last business week started on a highly unfavorable note for
In a devastating turn of events, a 46-year-old housewife from Hong Kong has found herself facing losses of a staggering 7.1 million Hong Kong dollars ($908,000) after falling victim to a fraudulent crypto investment platform. The woman, who remains unnamed, was lured into the scam through a series of deceitful tactics employed by cunning fraudsters.
North Korea has been making headlines due to its involvement in cyberattacks, with the United Nations Security Council revealing that the country earns a significant portion of its foreign exchange earnings through these illegal activities. The council’s report indicates that North Korea’s cyberattack strategy involves compromising digital wallet private keys and seed phrases, leading to
Coinbase, the derivatives arm of the largest American cryptocurrency exchange, recently announced its intentions to launch futures trading contracts for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) by April 1, 2024. This bold move signifies a significant step forward in the world of cryptocurrency trading and marks a new era for these digital assets.
In the midst of escalating inflation and economic instability, Argentinians are turning to Bitcoin as a safe haven, with recent data showing a significant increase in cryptocurrency purchases. The surge in Bitcoin transactions has been particularly notable in the first week of March, with a reported 34,700 weekly purchases in Argentina. This represents a substantial
The meme coin sector has recently experienced a surge in popularity, with certain assets gaining significant traction on social media platforms. While early adopters have reaped substantial profits from tokens like SHIB and WIF, caution is advised due to the inherent volatility in this niche market. Top Performers in the Meme Coin Sector Contrary to
The XRP Ledger (XRPL) has recently integrated automated market maker (AMM) functionality into its decentralized finance ecosystem. This new feature has already shown promising results with the creation of the first AMM liquidity pools supporting pairs such as XRP/USD and XRP/BTC. Automated Market Makers (AMMs) rely on mathematical algorithms to quote cryptocurrency prices and facilitate
Super Sushi Samurai, a highly-anticipated blockchain game on the layer-2 solution Blast, fell victim to an exploit just hours before its launch. The exploit, attributed to a white hat hacker, resulted in a loss of $4.6 million due to a critical bug in the smart contract code. This bug allowed the hacker to trigger an
After a lengthy legal process, it seems that Do Kwon, the co-founder of Terraform Labs, will finally be extradited to South Korea. The Appellate Court of Montenegro recently upheld a decision to extradite Kwon, who was arrested in March 2023 in Montenegro alongside the Terraform Labs’ Chief Executive Officer. Kwon’s extradition has been the subject
The recent fluctuations in Bitcoin’s price have been nothing short of dramatic. After hitting an all-time high of nearly $74,000, the leading cryptocurrency experienced a sharp decline, dropping to a 2-week low of under $61,000. However, following the latest FOMC meeting, Bitcoin’s price reversed its trajectory and surged by over seven grand in a matter
The official Twitter account of Trezor, a well-known hardware wallet manufacturer, recently suffered a devastating compromise. It is suspected that the breach was a result of a SIM swap attack, which led to fraudulent messages being posted on the platform. These messages promoted fake token sales and wallet scams, tricking users into sending funds to
The cryptocurrency market is abuzz with news of XRP experiencing a notable price spike on the Atlantis Exchange. While excitement initially spread among X users as the asset’s price seemingly soared to an all-time high of $74, it was later revealed to be a short-lived glitch. This surge came shortly after Atlantis Exchange introduced trading