The US Treasury Department's Office of Foreign Assets (OFAC) says it has sanctioned two Chinese nationals who laundered cryptocurrencies stolen by millions of North Korean hackers. Since the industry is still young, most cryptocurrency exchanges are under a major threat of losing their virtual currency holdings to wrong hands.
As of the recent political events between the long term sworn enemies of the United States and Iran, new measures have been reintroduced by the former. The United States under the Donald Trump administration imposed fresh economic sanctions on Iran. Following the sanctions aftermath prices of commodities like Bitcoin and Gold started to steadily enter a bull run.
Today the cryptocurrency market has marked a turnaround and this could be because of ongoing US-Iran political turmoil. In fact, most cryptocurrencies have the positive (+) sign. Starting with Bitcoin, whose dominance not only resists, but is currently more than 69%, therefore growing. Investors are wondering if this is a "physiological" retracement or if the sector is benefiting from an effective recovery.
A couple of giant cryptocurrency exchanges globally faced it hot this year especially after experiencing repetitive attacks from unknown hackers. Due to these attacks, both the investors and exchanges lost billions and billions of their money. This year saw quite a few weighty hacking episodes, we have brought you some of the major breaches of 2019.
The allocated liquidator for Cryptopia, the collapsed New Zealand-based cryptocurrency exchange, has managed to recover around NZ$7.2 Mln (approx. $5 Mln) on balance since it was attacked by anonymous hackers for feasibly $18 Mln early this year. The exchange went into liquidation back in May after facing a gigantic attack by deadly unknown hackers in January.
As the day goes by, new people claiming to be “Satoshi Nakamoto” the real maker of bitcoin emerge, and this time around, another instance has happened on Thai TV. The videotape displays an outstanding event at the Wat Phra Dhammakaya, where a prominent monk resembles Dorian Nakamoto. However, Dorian has refuted all the allegations saying he is the developer of Bitcoin. His epochal face has been frequently used to illuminate the unknown Satoshi.
The world’s third largest cryptocurrency by market cap, Ripple (XRP), is on the move after an unsuspected attack by anonymous hackers. Early this month, around $9.2 million worth of Ripple (23 mln of XRP) was illegally fetched from GateHub, a digital currency wallet service provider. It looks like the hackers are now in the process of moving the stolen Ripple and cashing out at any available opportunity.