Crypto News 

Cryptocurrency Scams Have Cost Investors $500 Million

“ICO advisory firm Satis Group finds 81% of the coins with 50 million or more in market caps are scams” reports etfdailynews.com. Cryptocurrency, on the other hand, is not able to capitalize on investors short-term blind bliss.One research firm estimates investors may have still lost as much as $500 million   Is Anonymity Really That Cool?. Blockchain is No Magic Pill Either The most promising part of the cryptocurrency technology is blockchain. Source: etfdailynews.com Share This:

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Crypto Markets News 

Crypto Markets Fall Considerably, Market Cap Reaches Local Low

“According to Coin Telegraph, the fall, which came after a week of relative stability, brought the total market cap for the digital currency industry to monthly low levels” writes Nathan Reiff for investopedia.com. On Tuesday, market cap for the industry fell to a low of about $253 billion.On Tuesday, July 10, the cryptocurrency market received yet another jolt which temporarily saw 19 of the top 20 coins in decline.Unsurprisingly, then, ethereum has fared similarly to the largest digital token by market cap.With other coins moving in a similar pattern, the…

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Crypto Markets News 

Bitcoin starts second half of the year with a rally

“Still, bitcoin is up 145 percent since last July and saw roller coaster trading for the remainder of last year” writes Kate Rooney for cnbc.com. After a sluggish start to the year, bitcoin started the month of July with a 12 percent rebound off of last week’s lows. The digital currency rose more than 1,300 percent to almost $20,000 in 2017, pushed higher by a wave of retail investors.Last week, bitcoin skidded to its lowest level since November under $6,000, which traders attributed to CME futures contracts expiring and overall…

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Crypto Markets News 

Crypto Coin Graveyard Fills Up Fast as ICOs Meet Their Demise

“CoinJanitor plans to take over dead projects, and to burn the dead coins” writes Olga Kharif for bloomberg.com. Startup CoinJanitor has partnered with Dead Coins, saying it wants to help investors and developers recycle failed coins with market caps of under $50,000. Alas, most of the dead coins remain in the grave.As the digital money frenzy of the past few years cools, the crypto coin graveyard is filling up. Source: bloomberg.com Share This:

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Crypto News 

South Korea’s Bithumb loses $31.5m in heist

“On 11 June, another South Korean cryptocurrency exchange, Coinrail, said it was hacked” writes Robert Shiller for theguardian.com. Bithumb trades more than 37 different virtual coins, according to Coinmarketcap.com.The South Korean cryptocurrency exchange Bithumb said 35bn won ($31.5m) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital asset.Global policymakers have warned investors to be cautious in trading the digital currency, given the lack of broad regulatory oversight.The Bithumb theft highlights…

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Crypto News 

Hackers hit South Korean cryptocurrency exchange Bithumb, bitcoin falls

“Bithumb trades more than 37 different virtual coins, according to Coinmarketcap.com” writes Cynthia Kim for reuters.com. Mun Chong-hyun, chief analyst at ESTsecurity, said digital coins would continue to be juicy targets for hackers around the world. “No security measures or regulations can 100 percent guarantee safety of virtual coins.On June 11, another South Korean cryptocurrency exchange Coinrail said it was hacked.Global policymakers have warned investors to be cautious in trading the digital currency given the lack of broad regulatory oversight.In January, South Korea banned the use of anonymous bank accounts…

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Crypto News 

Bitcoin at plunges after major exchange hit by hackers

“A South Korean cryptocurrency exchange said on Monday that hackers had stolen about one-third of the coins traded on its market, an announcement that sent bitcoin prices tumbling to a two-month low” writes Youkyung Lee for independent.co.uk. News reports said Coinrail, launched in September, was the seventh-largest exchange in South Korea by trading volume.If true, that would make it the biggest cryptocurrency theft reported to date in South Korea.South Korea has seen a craze over bitcoin and other cryptocurrencies, prompting authorities to try to rein in speculative investment this year…

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Crypto News 

Bitcoin tumbles as hackers hit S.Korean exchange Coinrail

“Coinrail was the 98th largest cryptocurrency exchange that trades more than 50 different virtual coins, according to Coinmarketcap.com” writes Reuters Editorial for reuters.com. More recently, in December last year, South Korean cryptocurrency exchange Youbit shut down and filed for bankruptcy after being hacked twice.Coinrail said the balance 70 percent of virtual coins are now secure in its “cold wallet”, which operates on platforms not directly connected to the internet.Investors and regulators were jolted earlier this year after Japan’s cryptocurrency exchange Coincheck was hacked in a high-profile theft of over half…

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Crypto News 

Soarcoin ‘Backdoor’ Causes $6.6 Million…

“Byte Power Party Ltd. and Soar Labs had engaged in a business relationship” writes Jp Buntinx for livebitcoinnews.com. Soar Labs wrote in a letter: The Soar Labs team decided to withdraw the coins held by Byte Power Group, made possible thanks to a backdoor.Byte Power Group told the Australian Securities Exchange (ASX) the Soarcoins held by its subsidiary had been suspended.In fact, Soar Labs could remove Soarcoins from any wallet that contains them via this backdoor. Source: livebitcoinnews.com Share This:

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Crypto News 

$1.6 billion Coinbase says that its newest acquisition puts it ‘on track’ to trade securities, and it could mean new coins are coming soon

“$1.6 billion bitcoin exchange Coinbase has turned to M&A to get the licenses needed to run a fully-regulated financial business” writes Finanzen Net Gmbh for businessinsider.com. But Coinbase currently trades only four of the biggest cryptocurrencies on the market: bitcoin, bitcoin cash, ethereum, and litecoin.In late May, Coinbase acquired a trading platform called Paradex which lets users trade “hundreds of coins.”. Coinbase, an industry-leading cryptocurrency exchange, has been slow to add new coins, given that they may be considered a security by the Securities and Exchange Commission (SEC). Source: businessinsider.com Share…

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