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Tag Archives: security

Not Just Ripple: SEC Goes After Another Blockchain Company

A few months after it filed a lawsuit against Ripple for conducting an unregistered security offering, the SEC has done the same against another blockchain project. This time, it’s going for LBRY – a project operating a decentralized content publishing platform. $11M Worth of Unregistered Securities Offering? Based in New Hampshire, US, LBRY Inc is a blockchain-based file-sharing and payment network that powers social networks and video platforms. Although it was founded in...

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Fake Bitcoin Sellers Steal Close to $500K From Victims

Two suspects have been accused of stealing almost $500,000 from unsuspecting victims in fraudulent bitcoin transactions in Hong Kong.Fake It Till You Steal ItAccording to a report by the South China Morning Post on Tuesday (Mar. 23, 2021), the victims, aged 33 and 31, were deceived by two con artists in a fake bitcoin transaction. The cons who posed as bitcoin sellers managed to steal HK$3.85 million ($495,650) from the victims.The victims, who work at a money exchange company, went to a shop...

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$100 Million in Monero (XMR) Ransom Reportedly Demanded from Computer Giant Acer

The Taiwanese multinational hardware and electronics company, Acer, is purportedly the latest popular organization to fall victim to the notorious REvil ransomware attack. According to recent reports, the perpetrators have requested one of the largest demands so far of up to $100 million paid in the privacy cryptocurrency – Monero.Ransomware Attack on AcerHeadquartered in New Taipei City, Acer is among the world’s largest manufacturers of computer hardware and electronics with revenue of over...

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It’s Official: PayPal to Acquire Crypto Custodian Curv

The leading payment processor, PayPal, announced today that it has agreed to purchase the digital asset custody company, Curv. It said that it will complete the acquisition in the first quarter of the year.Rumors Confirmed True As PayPal Acquire CurvReports surfaced last week that PayPal was planning to acquire cryptocurrency security firm, Curv. There were no concrete evidence to buttress the claims, but the leading payment giants have now made it official via a press release today.The...

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Brad Garlinghouse: XRP Will Continue Trading Even if Ripple Goes Away

With the impending legal battle between the SEC and Ripple, the CEO of the payment processor said that XRP will endure even if the company doesn’t.Simultaneously, Jesse Powell, the CEO of the veteran US exchange, Kraken, believes that offering XRP trading carries “huge asymmetrical risk.”XRP Will Endure, Says Ripple CEOEver since the US Securities and Exchange Commission brought charges against Ripple for conducting an unregistered security offering, the company’s executives have tried to...

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Verge (XVG) Goes Through an Attempted 51% Attack

Verge, a privacy-centric cryptocurrency, reportedly suffered an attempted 51% attack, causing a massive blockchain reorganization, which wiped off over six months of transactions.200 Days Worth of Verge Transactions Wiped OffThe issue was first revealed by Antoine Le Calvez, chief data engineer at blockchain research company Coin Metrics. Tweeting on February 15, Le Calvez noted that 0over 560,000 blocks were affected.Le Calvez’s colleague, Lucas Nuzzi, who is Coin Metrics’ network data...

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CREAM Finance Exploited, Price Crashes 30% Instantly

CREAM Finance, one of the more popular projects in the field of Decentralized Finance (DeFi), has been exploited. The price for its CREAM token has dropped by 30% in less than a few minutes after the news broke out.The official Twitter account of CREAM Finance revealed earlier today that the protocol has been exploited.We are aware of a potential exploit and are looking into this. Thank you for your support as we investigate.We are aware of a potential exploit and are looking into this. Thank...

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South Korean Conglomerate Hanwha Set To Acquire A $50M Stake In UPbit’s Operator

The brokerage arm of the South Korean business conglomerate Hanwha Group is reportedly set to acquire a 6.15% stake in Dunamu – the operator of the popular cryptocurrency exchange UPbit. The deal will take place on February 22nd, 2021.According to the KoreaHerald coverage, Hanwha Investment and Securities has agreed to buy 2.06 million shares in Dunamu.The deal will become official later this month for a total price of 58.3 billion won ($52 million).The South Korea-headquartered financial...

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KuCoin CEO Reassures They Recovered All $285 Million Stolen in Last Year’s Hack

Months after suffering one of the worst hacks in crypto history, the popular exchange KuCoin has announced it had successfully recovered all stolen funds. The company’s CEO reassured that no customer has sustained any financial loss following the event.KuCoin Recovers Stolen FundsAs reported back in September 2020, a group of unknown attackers exploited the hot wallets belonging to the KuCoin exchange. While the initial estimations suggested that the stolen amount was at around $150 million,...

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Thieves Stole About $450,000 from Crypto Trader at Knifepoint

A Hong Kong woman has fallen victim to a gang of robbers after conducting a crypto transaction worth almost $450,000.Gang of Four Steal $450K From Hong Kong Crypto TraderAccording to a report by the South China Morning Post, a female crypto trader was held at knifepoint by a gang of thieves, who stole HK $3.5 million ($448,700) from the victim.As part of the robbery operation, one of the thieves posed as a prospective cryptocurrency buyer. The woman had earlier conducted different crypto...

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