Russian Popular Darknet Marketplace Hydra to Raise Capital via ICO

Russian Popular Darknet Marketplace Hydra to Raise Capital via ICO

Hydra, Russia’s world famous darknet marketplace, has set itself a target of raising $146 million through initial coin offering (ICO) in a bid to expand its reach globally. Hydra released an investment memorandum on its darknet website where it revealed its plans for raising money for a global expansion. According to the document, the first phase of the ICO will be initiated on December 16. The crypto token in question will be priced at $100…

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Aluminum Plant in Russia Turned into Huge Bitcoin Mining Site ‘BitRiver’

Aluminum Plant in Russia Turned into Huge Bitcoin Mining Site ‘BitRiver’

In the cold and dry region of eastern Russia, a former Aluminum refining plant has transformed into one of the largest Bitcoin(BTC)trade mining sites in Russia. The promising features of BitRiver have already started attracting many crypto stakeholders. Japan, China and the United States have already signed up for renting the site to mine digital coins. The former aluminum plant was powered by a sophisticated hydropower infrastructure that made use of ample supply of water…

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Investigation Suggests Russian Involvement in Crypto Exchange Theft of $450M in Bitcoin

Investigation Suggests Russian Involvement in Crypto Exchange Theft of $450M in Bitcoin

A BBC investigation has revealed a potential link between Russia’s Federal Security Bureau (FSB) and the recent shutdown of the cryptocurrency exchange WEX. Alexei Bilyuchenko, who confessed to be the tech administrator of the infamous BTC-e crypto exchange and later co-founder of WEX, claimed that he had been engaged by the Russian intelligence to comply in an investigation that had been active since early 2018. What is shocking is that, according to Bilyuchenko, he was…

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BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS, a collaborative group with five members of major emerging nations – Brazil, Russia, India, China and South Africa – has proposed developing a digital currency for payment transactions between these countries. The CEO of Russian Direct Investment Fund (RIDF), Kirill Dmitriev, detailed the developing plan on Thursday at the BRICS forum. RIDF is a $10 billion wealth fund of the country created by the Russian government. The announcement was reported by RBC Group, a…

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Russia Contemplates Law to Allow Cryptocurrency Confiscation by Government Agencies

Russia Contemplates Law to Allow Cryptocurrency Confiscation by Government Agencies

According to Russian media publication RBC, Russia has started working on changing the law that currently grants permission to the law enforcement agencies in confiscating and seizing digital currencies such as Bitcoin(BTC)trade. The Ministry of Internal Affairs of Russia have set the agenda to create a structure of legal mechanism for the confiscation of cryptocurrency and other such digital assets, as reported by the media outlet. The Ministry of Internal Affairs is working on developing…

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Closed Russian Aluminum Plant Switches Over to Bitcoin Mining Farm

Closed Russian Aluminum Plant Switches Over to Bitcoin Mining Farm

Russian news outlet RBC reports that the Nadvoitsy Aluminum Plant of the second largest aluminium company in the world, Rusal, is set to reopen activity on its old site but this time as a Bitcoin(BTC)trade mining farm. The metal plant was one of the largest in Russian before it was closed last year. Following the sanctions imposed by the United States Office of Foreign Assets Control (OFAC) on Rusal, the metal plant lost a large…

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Russia Blocks Leading Crypto News Site Cointelegraph

Russia Blocks Leading Crypto News Site Cointelegraph

Russia added yet another website to its blocking cart: the leading crypto news site, Cointelegraph. The news of the block goes to show that the Russian censorship program is not backing down and they will do all it takes to keep Russia’s citizens away from any site that – by their definition – could be potentially harmful. While Cointelegraph claims that the crypto news website has been in the Russian blocking cart for about 2…

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Russian Engineer Used a Supercomputer to Mine Bitcoin at Nuclear Facility

Russian Engineer Used a Supercomputer to Mine Bitcoin at Nuclear Facility

A Russian engineer caught illegally mining Bitcoin(BTC)trade, using one of the country’s most powerful supercomputers at a Russian nuclear lab located near the city of Sarov. He has been fined 450,000 rubles, or $7,000, as reported by the Moscow Times. Bitcoin mining is getting popular with the arrival of new mining hardware rigs with greater hash power including ASICs. However, it can cost the miner a lot higher if certain requirements are not fulfilled. So,…

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Facebook Libra Won’t Receive Any Special Treatment from Russia’s Finance Ministry

Facebook Libra Won’t Receive Any Special Treatment from Russia’s Finance Ministry

Ever since Facebook released the whitepaper for its cryptocurrency Libra, regulators across the globe have been commenting on its implications over the world and national economies. The Russian Finance Ministry will not issue any special regulations for Facebook’s upcoming digital currency Libra, deputy minister Alexei Moisseev said to local news outlet Interfax. Russia has categorically denied that Libra will get any special treatment in the upcoming legislation for regulation of digital assets. Moisseev was answering…

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Russian Ministry of Finance Might Allow Cryptocurrency Trading After All

Russian Ministry of Finance Might Allow Cryptocurrency Trading After All

According to a recent report by the Russian news service Interfax, the Russian Ministry of Finance considers allowing sale and purchase of cryptocurrencies in the country. Russia has traditionally taken a hard stand against the idea of cryptocurrency trading. Russia had passed a bill prohibiting the use of crypto assets as a means of payment in May of last year. Just this month, in response to Facebook launching its long-awaited cryptocurrency Libra, Russia completely rejected…

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