With New Zealand Exchange Cryptopia in the midst of a liquidation process, hackers seem to consider it an easy victim. Despite it being under the supervision of Grant Thornton liquidators, criminals have stolen over $40,000.
Kenya, through its central bank, has lately announced a controversial move to employ bitcoin as a reserve currency in a bid to improve the country’s economic performance. However, whether or not this shift will serve the intended purpose remains a matter of debate.
Criminals commonly use cryptocurrency to carry out illicit activities such as money laundering, funding terrorism activities, buying and selling narcotics and many others. According to the new report by the UN, hackers have been attacking exchanges to steal the cryptocurrency and then use it to fund nuclear weapons development. North Korea is leading the game.
A trademark crypto-war is afoot in the United States District Court for the District of Columbia. Safex, a blockchain engine for ecommerce, won the first battle by successfully obtaining emergency relief which requires the defendants Safeth LTD., and its principals Joey “Crypto” Lathus and Cynthia Lathus to immediately stop using the Safex name and logo in connection with their competing cryptocurrency.
The month of January 2021 has not been fair to some of the popular digital currencies among the top 10 cryptocurrencies on the market. There was a big amount of volatility in most of the cryptocurrencies. The price of the most cryptocurrencies fell following the warning from Janet Yellen, the US Treasury Secretary, about the illicit use of digital currencies including Bitcoin.
Just like any other businesses have risks, the cryptocurrency investment is not an exception. There is a big number of fraudulent projects that take advantage of the cons of the cryptocurrency industry. These vulnerabilities make it easier to attract people, and then leave them without their funds.
Privacy coins have been a quite controversial topic for long. While many users favour them as a way to preserve their privacy, cryptocurrency exchanges and regulators are against them. But do they really pose a threat?