Australian Authorities Arrested 21-Year-Old for Crypto Fraud and Money Laundering

Australian Authorities Arrested 21-Year-Old for Crypto Fraud and Money Laundering

The Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) arrested a 21-year-old Melbourne-based woman for her association in a crypto fraud and identity theft operation run by a group of scammers. If found guilty, she will be charged with a wide range of criminal offenses. The fraudsters reportedly created fake identities to steal the funds from retirement accounts and share trading accounts of unsuspecting individuals. The group used digital coins in…

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Future Mainstream Spending Possibilities For Bitcoin

Future Mainstream Spending Possibilities For Bitcoin

Looking at cryptocurrencies as investable assets has become the norm nowadays, and with good reason. More than becoming any sort of viable alternative to traditional fiat currency, cryptocurrencies have instead become commodities that we can buy, hold, and sell in the hopes of financial gain. This is at least partly because of Bitcoin’s early failure to go mainstream, however, and in this regard we shouldn’t necessarily expect things to stay the same. While some understandably…

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Wells Fargo’s New Crypto Initiative: The Stablecoin Wells Fargo Digital Cash

Wells Fargo’s New Crypto Initiative: The Stablecoin Wells Fargo Digital Cash

One of America’s biggest banking companies, Wells Fargo, announced on Tuesday that it plans to enter the crypto world after all. Like JPMorgan, Wells Fargo is looking to create its own native digital coin that would function just like any other digital asset out there. Only in this case, the financial giant is looking to test the waters with its global network. Should all go as planned, this may extend to the general public. Wells…

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Survey: People Are Intrigued But Confused about Crypto

Survey: People Are Intrigued But Confused about Crypto

Cryptocurrency is increasingly becoming a familiar term for consumers who are already accustomed to traditional fiat money. However, a new survey reveals that many people are interested in exploring cryptocurrency more and what opportunities it brings. The recent survey, which circulated around Europe, was conducted by ING International and it showed that 82% of the people who responded had a basic idea about cryptocurrency. This is because mainstream corporations like Facebook have used this opportunity…

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German Finance Minister: We Must Reject Stablecoins Such As Facebook Libra

German Finance Minister: We Must Reject Stablecoins Such As Facebook Libra

European officials are beating their heads, trying to figure out the challenges and risks of letting cryptocurrencies be operational in the region. It is part of a wider debate that seeks to establish the pros and cons of digital transformation of European economies as major nations across the globe embrace digital currencies. However, the crypto world has now been hit by another storm when the Finance Minister of Germany, Olaf Scholz, categorically rejected the idea…

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Binance Invests in Chinese Crypto News Publication Mars Finance

Binance Invests in Chinese Crypto News Publication Mars Finance

One of the largest crypto exchanges in the world, Binance, made its first strategic Chinese investments since leaving China back in 2017. Binance joined the third funding round of Beijing-based Mars Finance, a local crypto and blockchain news publication. The exact amount invested wasn’t disclosed; however, Chinese media and data source Mars Finance is valued at somewhere in the vicinity of $200 million. According to Bloomberg, Mars Finance can be a potential rival to leading…

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PayPal Is Worried about Facebook Libra’s Future as Regulatory Pressure Increases

PayPal Is Worried about Facebook Libra’s Future as Regulatory Pressure Increases

PayPal seems to be worried about the future of Facebook’s cryptocurrency Libra as the development of the forthcoming digital currency has several hurdles on its way before it goes live. PayPal is one of the partners of the Swiss nonprofit Libra Association, which looks after the stability of the stablecoin. Facebook announced its plan to launch a stablecoin, which will officially roll out in 2020, and will be backed by a basket of financial assets…

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Security Analysts: New Crypto Mining Malware for Linux Was Discovered

Security Analysts: New Crypto Mining Malware for Linux Was Discovered

Cybercriminals are now exploring new platforms and ways to carry out crypto mining attacks using malicious software (also known as cryptojacking), along with ways to keep the malware undetected. One of such malware attacks has recently been identified by two threat-analysts. Skidmap, a new Linux malware, is not only capable of keeping the cryptocurrency mining hidden, but gives the attackers a backdoor access to the infected system through a “secret master password.” The discovery was…

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Multinational German Bank Deutsche Joins JPMorgan’s Blockchain Payment Network

Multinational German Bank Deutsche Joins JPMorgan’s Blockchain Payment Network

The multinational German investment bank, Deutsche Bank, is joining JPMorgan’s blockchain-powered cross-border payment messaging system, also known as Interbank Information Network (IIN). The aim of JPMorgan’s growing blockchain network is to counter the inefficiencies of the SWIFT payment system. SWIFT payments are cross-border transactions that are sent via SWIFT international payment network. It is one of the largest financial messaging systems in the world, which consists of 11,000 banks. IIN aims to provide a seamless…

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Crypto Exchange OKEx Korea Ceases to Support 5 Cryptocurrencies

Crypto Exchange OKEx Korea Ceases to Support 5 Cryptocurrencies

OKEx Korea, an international cryptocurrency exchange, notified in a statement originally made on 10th September that it will cease to support five cryptocurrencies; Monero (XMR), DASH, Zcash (ZEC), Horizon (ZEN) and Super Bitcoin (SBTC). The company will end transaction support on October 10th and the end of withdrawal facility two months later, on 10th December. In the statement made, OKEx Korea claimed that the reason for the termination of support was because the following five…

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