QuadrigaCX’ Admins Discover the CEO Misappropriated Crypto Funds

QuadrigaCX’ Admins Discover the CEO Misappropriated Crypto Funds

Hell broke lose earlier in the year when the Canadian cryptocurrency exchange QuadrigaCX was declared bankrupt. The crypto exchange filed for bankruptcy after the sole director, Gerald Cotten, passed away with the password to the firm’s funds. Cotten allegedly kept the firm’s funds in a cold wallet in his laptop, away from the prying eyes of the public. Tragedy struck when he passed away without revealing the password to the wallet, while he reportedly was…

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Canada’s Shoppers Drug Mart to Utilize Blockchain in Tracking Cannabis Products

Canada’s Shoppers Drug Mart to Utilize Blockchain in Tracking Cannabis Products

With the emergence of blockchain initially in the sphere of cryptocurrency, other industries have also found this technology useful and have not wasted time in making use of it. From the financial industry to supply and logistics, and finally, the medical field. The crypto news making the rounds currently has to do with a retail pharmacy chain in Canada known as Shoppers Drug Mart partnering with a blockchain company TruTrace Technologies to debut a program…

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University of British Columbia to Offer a Graduate Blockchain Training Path

University of British Columbia to Offer a Graduate Blockchain Training Path

The Canada-based University of British Columbia (UBC) announced a blockchain and distributed ledger technologies training program for masters and Ph.D. students. The announcement came in a press release on June 11. According to the press release, the training path is going to be focused on blockchain’s application in health and wellness, clean energy, regulatory technology, and indigenous issues. The program is supposed to run for a length of 6 years. UBC hopes to equip 139…

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Bitcoin ATMs Face Possible Ban in Vancouver as Crypto-Related Crime Rate Increases

Bitcoin ATMs Face Possible Ban in Vancouver as Crypto-Related Crime Rate Increases

Crypto ATMs (also popularly known as Bitcoin ATMs) are designed to help facilitate crypto transactions. Like the everyday familiar ATMs, these machines allow crypto users to make seamless withdrawals at any of the locations in which the machines are situated. Sadly, crypto ATMs could also be a great tool for money laundering in the wrong hands. This is just another example of a ‘good innovation’ being used for bad things. Well, it seems that Vancouver…

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Canada and Singapore Pilot a Cross-Border Payment System Based on Distributed Ledger Technology

Canada and Singapore Pilot a Cross-Border Payment System Based on Distributed Ledger Technology

The Bank of Canada and the Monetary Authority of Singapore have joined hands on performing a successful experiment related to cross-border payments, making use of central bank digital currencies. In the first of its kind trial, the aim was to pave the way for a revolutionary breakthrough in cross country and cross currency payments, increasing their overall efficiency and reducing the risks associated with such a kind of payment. This comes as a long awaited…

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Five Canadian Banks Use Blockchain App Verified.Me for Identity Verification

Five Canadian Banks Use Blockchain App Verified.Me for Identity Verification

Five Canadian banks are now offering the blockchain-based identification system Verified.Me developed by SecureKey Technologies and available through a smartphone app. The app will allow customers to verify their identity to the bank in a safe and secure way. SecureKey Technologies is an identity and authentication tech startup company that uses blockchain technology and collaborations with major enterprises like IBM to develop leading identification software. The identity system used by the five Canadian banks is…

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Coinsquare Is Set to Launch the World’s First Canadian Dollar-Backed Stablecoin eCAD

Coinsquare Is Set to Launch the World’s First Canadian Dollar-Backed Stablecoin eCAD

Canada’s leading crypto exchange and trading platform Coinsquare is all set to introduce Canada’s first stablecoin that is backed by the Canadian dollar, eCAD™. The world’s first Canadian dollar backed stablecoin is aiming to strengthen cryptocurrency mass adoption and create a secure, affordable, stable and transparent infrastructure to transfer value in Canada and across the globe. Moreover, eCAD will also enable the users to hedge against the volatility and uncertainty of the crypto market. Coinsquare…

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Largest Bitcoin Forfeiture in Canada: Drug Dealer’s Ill-Gotten Cryptocurrency Seized by Court

Largest Bitcoin Forfeiture in Canada: Drug Dealer’s Ill-Gotten Cryptocurrency Seized by Court

The use of cryptocurrency for funding illegal activities is an alarming menace spreading like wildfire in the summertime. Being a decentralized network with the utmost priority for users’ anonymity and privacy, the crypto sphere can constitute as a secured hideout for all sorts of nefarious activities. Although these criminals tend to employ a random geo-targeting system, you would not be wrong if you said Canada has got some of the worst hits so far. In…

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First in Canada: Town of Innisfil Enables Payment of Property Taxes in Bitcoin

First in Canada: Town of Innisfil Enables Payment of Property Taxes in Bitcoin

The town of Innisfil in Ontario will become the first municipality in Canada to approve a one-year pilot program which will facilitate the acceptance of cryptocurrency as a method of payment for property taxes to the residents of the town. On March 27th, the Innisfil Council approved the formation of the partnership with the Toronto-based FinTech company, Coinberry Limited, which will be responsible for providing a new easy-to-use cryptocurrency payment solution and other related services….

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Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted

Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted

True, cyber attacks, especially through cryptocurrencies are common in just about any country; however, if there was a record keeper, this has got to be one of the worst hits so far. Canadians have had their fair share of crypto frauds – if not slightly above fair. In 2018 alone, they recorded several crypto frauds including those perpetrated through sim swapping. And just when we thought we have heard the last of such crimes, the…

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