Trump Administration Goes After North Korean Bitcoin Hackers

The U.S. Treasury has announced sanctions targeting North Korean cybercrime syndicates responsible for over $2 billion in bitcoin exchange hacks. OFAC Sanctions North Korean Bitcoin Hacking Syndicate The U.S. Department of the Treasury announced the news in a press statement issued on Friday (September 13, 2019). According to the press release, the department’s Office of Foreign Assets Control (OFAC) is going after three North Korean-sponsored hacking syndicates — Lazarus Group, Bluenoroff, and Andariel. The latter two are thought to be sub-divisions of the Lazarus Group. Commenting on the decision to…

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Sunday Digest: No Bitcoin Breakout Yet, and Libra Is Back In The News

So the first foolhardy participants have started to gather ahead of the Storm Area 51 event that 3.5 million Facebook followers are apparently going to. Whilst it doesn’t take a technical analyst to predict how badly that is likely to turn out, they can be quite useful for looking at Bitcoin price. Bitcoin Price: No Breakout Yet If we started the week optimistic that an imminent breakout could be on the cards, we’re certainly not anymore. Bitcoin price remained rangebound, as it has been since the strong rallies that took place…

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Bitcoin Price Hits $12,000 on Kraken Following Order Matching Glitch

Crypto trading service Kraken has revealed the reason for the abnormal Bitcoin price on its platform was due to an order matching bug. Abnormal Bitcoin Price Spread on Kraken On Saturday (September 13, 2019), the XBT/USD trading pair on Kraken experienced a $2,000 takeaway in both directions. 1/3 Yesterday a test of an unreleased advanced order type encountered a bug which resulted in the order’s prices being matched against the wrong side of the book. Some clients bought from the tester at $8000 and others sold at $12000 without clearing…

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Nick Szabo, ‘Libra is a Cryptocurrency in the Same Way That a Doll is a Baby’

Facebook’s Libra Coin has been all over the news the past few months as more tech giants invest in the network. However, many people in the cryptocurrency community are skeptical about the new stable coin, saying that Libra doesn’t have the properties that made Bitcoin what it is today. Issues with Centralization As many people have pointed out since the announcement of Facebook’s Libra, this new coin has a large number of differences versus Bitcoin. The network is controlled by a set number of high powered companies, completely opposite Bitcoin’s…

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Bitcoin Price Could Reach $200k ‘In a Very Short Time,’ Says Bobby Lee

According to BTCC co-founder Bobby Lee, bitcoin price could reach $200,000 in a very short space of time from now. Bitcoin Will Exceed $20,000 Speaking to Yahoo Finance UK, the founder of China’s first bitcoin exchange platform declared that the bitcoin price could continue to reach greater heights. According to Lee: We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000…

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Distrust of the Bolivar Prompts Venezuelans to Seek Sound Money

There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them educational resources about the benefits of bitcoin cash. The Venezuelan country has been suffering from rapid inflation and many people distrust the sovereign bolivar. Unfortunately, most Venezuelans are not getting any exposure to digital currency use cases, and according to Ryver’s community manager, Sofia Corona, some people spreading the crypto message are doing it all wrong. Also Read: Developer Reveals Token Reward Platform Fueled by Bitcoin Cash 88% of Venezuelan…

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Crypto Inflation Figures Show Why Bitcoin is King Above Others Like ZEC and XRP

The high inflation figures for altcoins like ZCash (ZEC) and XRP are providing yet another basis for the “bitcoin is king” argument. Indiscriminate Dumping Hurting Altcoin Value Tweeting on Friday (September 13, 2019), economic and crypto analyst, Alex Krüger highlighted the relationship between high inflation figures and poor price performance for certain altcoins. Crypto inflation rates, as measured by @viewbasecom. There is a disproportionate percentage of $ZEC and $XRP pouring into the market. No wonder these tokens are the worst performers of 2019, down 25% and 30% in dollar terms,…

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How Prime Brokerage Will Affect Crypto Markets

Prime brokerage firms are coming for crypto in what’s likely to be a race of winner-takes-almost-all. Goldman Sachs is synonymous with institutional wealth and power, even to those who’ve never purchased a financial product in their life. Like the eponymous tower it occupies in Jersey City, Goldman Sachs dominates the prime brokerage trade. What will happen when crypto gains its own Goldman Sachs – an institutional investment company whose AUM grant it unprecedented sway? Also read: Crypto Facilitates Money Transfer for Restricted China Prime Brokerage Is Coming for Crypto Prime…

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German Gov’t Approves ‘Bundes-Chain’ to Combat Libra Cryptocurrency

The German government will approve its proposed blockchain strategy this September which reportedly blocks projects like Facebook’s Libra cryptocurrency. Germany Readies Anti-Libra Response According to Spiegel, Germany’s federal cabinet will approve its blockchain strategy announced back in June 2019. While the move signals the country’s intent to be a part of the emerging global economy, the government-run ‘Bundes-chain’ might sound the latest death knell for Libra in Europe. Thomas Heilmann of the center-right Christian Democratic Union (CDU) says Germany’s legislative coalition already has a standing agreement to prevent the operation…

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Hacker Steals 30,000 EOS Through Gambling dApp Loophole

An attacker has made off with at least 30,000 EOS by exploiting gambling dApps on the network. By congesting the network with rented resources, the attacker was able to guarantee a winning outcome every time. Anatomy Of A Crime As pointed out by community members on Twitter, the attacker managed to steal over 30k EOS by manipulating winning conditions in gambling dApps. They first rented a massive amount of CPU and NET at EOS’s REX resource exchange. By staking CPU and NET for themselves and the attacked contract, the attacker was able…

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