Crypto EcoBlog
Another case of cryptocurrency fraud is in the books. This time, the circumstances occurred in Oregon and resulted in the arrest of Canadian brothers Jagroop Singh Khatkar and Karanjit Singh Khatkhar.Cryptocurrency Fraud Is Growing QuicklyBoth men have pled guilty to stealing as much as $140,000 in bitcoin funds from an investor who was allegedly convinced that they were part of the cryptocurrency exchange Hit BTC. Both men impersonated the trading platform and could serve as many as two...
Read More »VeChain Compromised; Nearly $7 Million in Crypto Funds Stolen
It’s happened again, folks. Another massive cryptocurrency hack is in the books. This time, the subject of the attack is VeChain, an enterprise blockchain platform that’s reporting losses of nearly $7 million.VeChain Is In the PitsApproximately 1.1 billion VET tokens – the official cryptocurrency of VeChain – have been stolen, amounting to roughly $6.53 million USD. In a blog post, the company states that the hack came about due to “human error” and the “mismanagement of the private key by...
Read More »Canadian Police Asked to Exhume the Body of Quadriga CX’s Gerald Cotten
Lawyers representing customers of the now doomed Canadian crypto exchange Quadriga CX are asking police officials to exhume (dig up) the body of the company’s deceased head executive Gerald Cotten.The Drama Surrounding Cotten Lives OnCotten made headlines in late 2018 when it was announced that he had passed away due to complications from Crohn’s disease while performing charitable work in India. What was so important about his passing was that Cotten was the only person working at Quadriga...
Read More »Early BitMEX Investor Files Suit Against the Platform
BitMEX – one of the world’s largest and most prominent bitcoin and cryptocurrency exchanges – is being sued by one of its early investors over potential fraud and lost equity.BitMEX Is In Trouble All Over AgainThe plaintiff in this case is a former JPMorgan derivatives trader named Frank Amato. He and his company RGB Coin are looking to garner $300 million in restitution from BitMEX and its head executive Arthur Hayes, who also owns a company called HDR Global Trading.Amato claims he was one...
Read More »Bitfinex and Chainalysis Work Together to Battle Money Laundering
Cybersecurity firm Chainalysis is unveiling its new compliance platform for Bitfinex, one of the world’s leading and most popular cryptocurrency exchanges.Chainalysis and Bitfinex Working TogetherThe platform is designed to detect money laundering before it can occur and monitor any illicit activity that some customers may be looking to perform with cryptocurrency’s help. White-collar crimes like these have long been serious concerns of politicians like those in the United States...
Read More »Director of Uganda Exchange Dunamis Coins Questioned Over Alleged Scam
Last week, Live Bitcoin News reported on a story involving a cryptocurrency exchange known as Dunamis Coins Resources Limited, based in Uganda. The exchange was under fire from users who say they were duped into providing money to the business as part of a shady job application process.Case of Uganda Exchange Grows LargerThe exchange was requiring all those interested in seeking consideration for its crypto and blockchain-based jobs to donate $5. The trouble was that about a month later, the...
Read More »South Korea Crypto Account Holders Must Use Their Legal Names
South Korea has passed new laws requiring that everyone opening a cryptocurrency account use their true, legal names to do so.South Korea: The Center of Crypto Regulation?As time goes by, many cryptocurrency exchanges and businesses are seeking out ways to remain fully compliant with federal regulators. The problem is that to do this, they’re often required to invade the privacy of their customers to one extent or another, and this scenario is no exception.One of the issues at hand is that...
Read More »Bittrex Serviced the Whale That Caused BTC’s Temporary $1,000 Surge
Recently, Live Bitcoin News reported that many members of the crypto community were suspicious of a $1,000 surge incurred by bitcoin, the world’s leading cryptocurrency by market cap. It has now been stated that the surge was no doubt the result of a bitcoin whale moving money between accounts with Bittrex, one of the world’s top cryptocurrency exchanges.Bittrex at the Head of Whale ActivityBitcoin and cryptocurrency whales can have serious effects on the industry. A whale is someone who...
Read More »BNB Is Making BTC Look Rather Small, Says New Report
According to a new report, BNB – the official cryptocurrency of digital exchange Binance – is outperforming bitcoin as of late.BNB – The Industry’s Strongest Coin?Bitcoin has been on something of a weak roll over the past few months. Things ultimately took a nasty turn for the currency in late September when Bakkt – the institutional crypto trading platform owned and governed by the Intercontinental Exchange (ICE) – opened its doors to rather lackluster reception. Following 12 months of hype...
Read More »Uganda Exchange May Be at the Center of a Crypto Scam
A cryptocurrency exchange in Uganda is taking a lot of flak for potentially stealing users’ money.Uganda Is Home to a Crypto ScamThe exchange appears to have set up a phony job search in which several people within the country who may have been looking for jobs either in the cryptocurrency or digital tech fields were asked to apply. As part of the application process, they were required to donate more than 20,000 Uganda Shillings (worth approximately $5 in USD).The trouble is that the...
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