Craig Wright’s Bitcoin Cash Fork Can Hit $1 Million: Fmr Reddit Crypto Dev

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. According to former Reddit crypto lead-turned-entrepreneur Ryan X. Charles, there are only a couple options for the future of Bitcoin, specifically Bitcoin Cash-spinoff Bitcoin SV — it goes to astronomical highs, or it goes to zero. To illustrate his point, published the following tweet on Friday. It seems he has decided that of the two networks that came out of the BCH hard fork, he’s on the side…

Bitmain Sues Anonymous Hacker Over $5.5 Million Theft

Chinese mining giant Bitmain is suing an anonymous hacker that allegedly stole $5.5 million in cryptocurrency last April from the company’s account on the digital exchange Binance. The hacker’s identity is still unknown, and he’s described only as “John Doe” in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the hacker managed to take over the company’s Binance account, then use bitcoin stored in the account…

BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain

Twitter Facebook LinkedIn Two European and one Japanese bank one have completed the first blockchain-based syndicated loan. Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. According to BBVA, the blockchain pilot is proof that distributed…

Israeli Startups Raised $600 Million Through ICOs in 2018: Report

Israeli startups have brought in more than $600 million in funding from initial coin offerings (ICOs) in the first three quarters of 2018, according to an industry report. Crypto analytics and research firm One Alpha surveyed ICOs and blockchain projects globally, from the past year, aiming to provide an overview on the status of the blockchain and ICO ecosystem, with a particular focus on Israel. One Alpha’s survey counted 140 active blockchain-related companies in Israel, which, when combined with other forms of investment, have received $1.3 billion worth of investments.…

Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1

Bitfinex is sending massive quantities of tether tokens back to the vaults. The cryptocurrency exchange has overlapping management and owners with Tether Ltd., the company that issues a dollar-linked cryptocurrency of the same name (often abbreviated USDT). Both firms have come under increasing scrutiny following USDT’s dramatic break with dollar parity last week, when the exchange rate briefly dropped as low as $0.85 on the Kraken exchange. It has yet to fully recover. It’s notable, then, that a wallet address controlled by Bitfinex has sent 630 million USDT to an…

North Korean Hackers Have Stolen $571 Million in Cryptocurrency: Report

Even though blockchain technology has all sorts of security applications, one thing is for sure: cryptocurrency exchanges are vulnerable to cybersecurity attacks, and hackers have exploited these flaws for massive gains. However, no hacker crew has been quite as successful as the infamous North Korean group of hackers, dubbed “Lazarus,” which is responsible for the theft of over half a billion dollars in cryptocurrency since 2017. Group-IB Report The information arrives courtesy of a new report by Group-IB, widely considered one of the leading cybersecurity companies in the world. The…

North Korean Hacking Group Lazarus Stole $571 Million in Cryptos: Report

North Korea’s infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates. According to an article published Friday by The Next Web, the coming annual report from cybersecurity vendor Group-IB sets out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, reaping a massive $571 million from the attacks. The news backs up claims from officials in South Korea, who said in February that North Korean hackers likely stole tens of millions of dollars’ worth in cryptocurrencies in 2017. As reported…

Tether Has Yanked $610 Million out of Circulation this Month

Tether Limited, issuer of the dollar-pegged cryptocurrency tether (USDT), has yanked nearly a quarter of the controversial stablecoin’s market cap out of circulation since the beginning of October. On Wednesday, cryptocurrency exchange Bitfinex sent another 50 million USDT to the Tether Treasury, marking the sixth time this month that the company — which shares a management team with Tether — pulled USDT out of circulation by depositing them into the treasury address. Tether has not issued any new tokens in October, and the last time that new tokens entered circulation was…

Media Startup Civil to Issue Refunds as $8 Million Token Sale Fails

Civil, the New York-based startup aiming to put journalism on a blockchain, is to refund users who participated in its token sale, after failing to meet its pre-set minimum target. Matthew Iles, Civil’s CEO, wrote in a blog post on Tuesday that the startup closed sales of its proprietary CVL token on Oct. 15, falling short of the goal to achieve funding of at least $8 million. Having received a $5 million investment from ethereum startup Consensys last year, Civil started the initial coin offering on Sept. 18 to raise…

$194 Million was Moved Using Bitcoin With $0.1 Fee, Potential of Crypto

On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies like Bitcoin and Ethereum is that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. $1 Million Through a Bank Costs $10,000+ Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees…