Cybersecurity Experts Warn Against Popular Phones and Losing Fingers to Criminals

Speaking at the RSA Conference in San Francisco, cybersecurity experts Aaron Turner and Georgia Weidman discussed two-factor authentication and biometrics as means to securing one’s phone. Although they concur that the two-factor authentication is the way to go, there are certain caveats.

Authenticator apps like Google Authenticator generally provide better security than SMS-based schemes,

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Analyst Claims 98% of Mining Rigs Fail to Verify Transactions

Alex de Vries, the founder of the Digiconomist, has given a damning assessment of the electricity consumed by Bitcoin (BTC) mining in an interview with British media outlet, The Telegraph.

According to de Vries, a single Bitcoin transaction expends the same quantity of electricity needed to power a British household for 59 days,

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New Malta Government Says It Still Wants to Run a ‘Blockchain Island’

Last week, the financial watchdog of Malta came forward with an unexpected statement. Apparently, Binance, a leading cryptocurrency exchange that had been enjoying a close relationship with local authorities, is not authorized “to operate in the crypto currency sphere,” as the regulator’s press release stressed. 

While the Malta Financial Services Authority has yet to license any cryptocurrency business — and not just Binance — under the country’s widely marketed cryptocurrency framework,

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MIT Professor: Blockchain Is Good on Its Own but Not Good for Voting

Computer scientist Ronald Rivest has said that blockchain is not the right technology for voting, although it can find proper application in a number of other areas.

Rivest delivered his opinion at the RSA Security Conference, held in San Francisco earlier this week, technology-focused news outlet ITWire reported on Feb. 28. Rivest — who is a cryptography expert and a professor at the Massachusetts Institute of Technology — called voting an interesting problem that requires a more stricter approach compared to many existing security applications.

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Steven Seagal Charged by SEC for Promoting 2018 ICO

The Securities and Exchange Commission (SEC) has charged actor Steven Seagal for promoting an initial coin offering (ICO) without disclosing that he was paid for it. He was ordered to pay back over $330,000 to the commission.

In March 2018, Steven Seagal was contracted by ICO project “Bitcoiin2Gen” (B2G) to promote the sale on his social media channels,

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Binance’s CZ Overtakes Bitmain Co-Founder in New Hurun Rich List

While China now has more billionaires than the United States and India combined, Binance CEO might have more money than any crypto person, a new report says.

Binance CEO Changpeng Zhao has overtaken a co-founder of cryptocurrency mining giant Bitmain in the latest Hurun Global Rich List, an annual ranking of the world’s biggest billionaires published Chinese media Hurun Report.

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Singapore Appeals Court Rejects Quoine Appeal in Landmark Crypto Ruling

In the country’s first legal dispute involving cryptocurrency, the Singapore Court of Appeals has ruled that virtual currency exchange Quoine must pay damages to electronic market maker B2C2. The damages are for seven transactions that were wrongfully reversed on the platform during April 2017.

According to The Straits Times on Feb. 24,

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Price Analysis Feb 24: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA

The global equity markets are reeling under pressure as the coronavirus outbreak has spread outside China. While gold, the traditional safe haven, has been moving higher, Bitcoin has largely remained range-bound. This again puts focus on the frequently discussed perspective that Bitcoin is a completely uncorrelated to traditional markets. Sometimes it rallies with the equity markets and other times with gold but during certain occasions,

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The State of Blockchain: Experts Weigh in on Adoption Around the World

Blockchain usage is exploding around the world. But despite the technology’s many vocal advocates, the spread of technology is never even. Adoption is limited by a number of factors, including infrastructure development, local resources and regulation.

As happens with the spread of any emerging technology, certain regions are pulling ahead of the pack.

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FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam

Less than two years after bursting onto the scene, Chinese crypto exchange FCoin has shut down its operations. The platform, founded by Zhang Jian, also says it may be unable to pay the 7,000 to 13,000 Bitcoin (BTC) — about $67 million to $125 million — that is owed to its customers.

Jian,

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Fidelity International Invests in Hong Kong Crypto Company BC Group

Fidelity International has acquired a stake in BC Group, the operator of OSL, one of Asia’s largest digital asset platforms for institutions. The company purchased 17 million shares for a 5.6% ownership position.

The purchase was revealed by a Hong Kong Stock Exchange (HKEx) disclosure filed on Feb. 17. The actual transaction occurred on Feb.

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Liquidity of Top Cryptocurrencies Is Stronger Than During 2017 Bull Market

With increasing speculation in the crypto community that cryptocurrency markets are on the cusp of the next major bull season, it can be easy to lose sight of the maturation that the crypto ecosystem has undergone to get to the present moment.

When comparing the current crypto markets against the climate preceding the previous bull run,

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Institutions Eye Bitcoin as Hedge Against Global Economic Volatility

The world has arguably been teetering on the brink of a recession for months now. But recent events could be pushing the global economy even closer to the precipice. The coronavirus outbreak has choked China’s output, leading to predictions that it will trigger a global slowdown. Europe is facing its own challenges amid ongoing Brexit uncertainty,

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China Tracks Victims of Coronavirus with WeChat and Alipay

The government of Hubei, the Chinese province at the epicenter of the COVID-19 (Coronavirus) outbreak, issued a report on Feb. 18 detailing measures taken against the disease. The officials revealed that they tracked both offline and online purchases of fever medicine to organize relief efforts.

As the emergency situation shows no signs of slowing down,

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New Email Extortion Scam Targets Google’s AdSense, Demands Bitcoin

A new extortion scam targeting website owners serving banner ads through Google’s AdSense program has begun circulating the Internet. The malicious scheme demands Bitcoin (BTC) in exchange for preventing an attack, which would purportedly lead to the users’ AdSense account suspension.

The email-based extortion scheme was reported by security news and investigation blog KrebsOnSecurity,

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Bakkt to the Senate: How Loeffler Became One of Crypto’s Most Influential

Since the 2017 mania, every year in the crypto and blockchain space has been increasingly eventful. 2019 was no exception: Along with Facebook’s Libra project and China’s digital yuan endeavors, Intercontinental Exchange’s digital assets platform Bakkt was finally launched. Its CEO, Kelly Loeffler, ensured a smooth start for the exchange, then swiftly left her business to pursue a political career by the end of the year.

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Japan Uneased by Chinese CBDC, Plans on Digital Yen in ‘2 to 3’ Years

China continues to pull ahead in the central bank digital currency race as more details on its secretive digital yuan project intermittently surface. As a result, more countries are beginning to worry about the potential implications.

Over the past few weeks, a number of Japanese lawmakers have publicly expressed their preference for a CBDC controlled by the Bank of Japan.

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Price Analysis Feb 14: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA

Interest in Bitcoin (BTC) has surged significantly after its rally above $10,000 and if the bulls can sustain the price above this psychological level, it is likely to attract further attention. While it is difficult to pinpoint the exact reason for this resurgence, a host of factors such as the China coronavirus scare, the upcoming Bitcoin halving,

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Coinbase Fails to Top CryptoCompare’s Exchange Rankings due to 2019 Flash Crash

Coinbase, one of the most popular platforms in the United States, missed out on the number one spot in a ranking of crypto exchanges due to a 2019 Bitcoin (BTC) price glitch.

The major U.S. crypto exchange and wallet service did not get to the top of the latest CryptoCompare’s crypto Exchange Benchmark rankings because its institutional trading arm Coinbase Pro experienced a major Bitcoin price flash crash in October 2019.

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Egyptian National Bank Turns to Blockchain to Boost Remittance Business

Another major financial institution has partnered with blockchain-based payments firm Ripple.

The National Bank of Egypt has signed a cooperation agreement with Ripple to establish new channels for inward remittances, according to a Feb. 11 report from local daily news site Youm7. 

The agreement reportedly makes the National Bank the country’s first to venture into the blockchain sector. 

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Crypto Fraud Now Exposing Legacy Banks to Compliance Issues, Reports CipherTrace

The nature of cryptocurrency fraud is shifting away from exchange hacks, and toward Ponzi-style frauds, pyramid schemes and exit scams. A massive 533% rise in the value of such crimes means that as misappropriated funds are laundered, the traditional banking system is increasingly exposed to risk under upcoming Financial Action Task Force (FATF) rules.

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Price Analysis Feb 10: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA

A report by investment management firm VanEck shows that Bitcoin can greatly improve the “risk and return reward profile of institutional investment portfolios.” The research shows that even a small allocation to Bitcoin in a portfolio mix of 60% equity and 40% bonds enhanced the cumulative return. 

The best portfolio return was seen with an investment of 3% in Bitcoin,

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Chinese Insurance Firms Use Blockchain to Process Coronavirus Claims

Insurance firms in China use blockchain to manage coronavirus-related claims amid the outbreak. English-language local news outlet South China Morning Post reported on Feb. 9 that this month Chinese online mutual aid platform Xiang Hu Bao added the coronavirus to the illnesses eligible for the maximum one-time payout of around $14,300 (100,000 yuan).

Blockchain used for insurance claim processing

Xiang Hu Bao is not an insurance policy,

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Alexander Vinnik Claims Injustice While Now Fighting Charges in France

After spending 30 months in detention, Greek authorities have finally extradited the Russian national and alleged Bitcoin (BTC) money launderer Alexander Vinnik to France. Prosecutors in France are charging Vinnik, operator of the defunct BTC-e crypto exchange, with multiple counts of money laundering, extortion and conspiracy.

Vinnik also has pending extradition requests from both Russia and the United States.

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Chinese Startup Donates $14K to Fight Coronavirus While Launching a Blockchain Data Platform

Chinese startup FUZAMEI has rolled out a philanthropy-focused blockchain-based platform for tracking and managing data.

Dubbed “33 Charity,” the platform is designed to boost the transparency and efficiency of businesses’ internal processes, including charitable organizations, according to a press release published on Feb. 7. The platform appears to be a shared network where organizations can register,

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