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Smart Contract Hacking Costs Ex-Engineer $12M and His Freedom - The Coins Post
A former senior security engineer was sentenced to three years in prison for executing sophisticated hacks against two decentralized cryptocurrency exchanges, stealing over $12 million worth of digital assets. Shakeeb Ahmed, 34, of New York, pleaded guilty to computer fraud charges related to the July 2022 hacks. He exploited vulnerabilities in the smart contracts governing […]
Craig Wright's "Satoshi Nakamoto" Claim Debunked in UK Court Ruling - The Coins Post
The mysterious identity of Satoshi Nakamoto, the inventor of Bitcoin, has been a burning question in the crypto world for over a decade. Several self-proclaimed candidates have stepped forward claiming to be Nakamoto, but their assertions have been widely doubted or disproven. One of the most vocal Nakamoto claimants is Australian computer scientist Craig Wright, […]
P2P NFT Trading Platform Faces Breach: Users Urged to Take Immediate Action - The Coins Post
NFT Trader, a peer-to-peer (P2P) trading platform, recently experienced a security breach leading to the unauthorized transfer of significant NFT assets. The attacker, identified as 0x90…8fda, successfully made off with 37 Bored Ape Yacht Club (BAYC), 13 Mutant Ape Yacht Club (MAYC), 4 World of Women, and 6 VeeFriends NFTs, collectively valued at 1,080 ETH […]
Former IcomTech CEO Admits Guilt in Cryptocurrency Ponzi Scheme - The Coins Post
In a recent development, Marco Ochoa, the former CEO of IcomTech, has pleaded guilty to a conspiracy to commit wire fraud charge in the United States District Court for the Southern District of New York. This admission of guilt is tied to the infamous Ponzi scheme orchestrated by IcomTech during Ochoa’s tenure as CEO, which […]
Robert Kiyosaki's Bold Prediction: Citibank Tokens vs. Bitcoin and the US Dollar - The Coins Post
In a recent tweet that sent shockwaves through the cryptocurrency community, renowned author and financial literacy advocate Robert Kiyosaki ignited a spirited debate about the future of Bitcoin and the US dollar. The tweet read: This bold statement has raised questions about the impact of traditional financial institutions like Citibank embracing blockchain technology and its […]
Brazil Enhances National Identity Card Security with Blockchain Technology - The Coins Post
In a significant stride toward modernization, Brazil is rolling out a novel national identity card system, fortified by the integration of a blockchain network. This innovative approach is set to bolster the security of data sharing between the Federal Revenue Service and civil identification authorities. The cornerstone of this system is the shared registry known […]
Horizen's $ZEN Holders Take the Helm with the DAO Launch - The Coins Post
The Horizen community, get ready to embark on a revolutionary journey in governance as the Horizen DAO steps into the spotlight, as per Horizen’s new announcement. Horizen, a public, open-source blockchain protocol, boasts a thriving ecosystem composed of developers, miners, node operators, and holders of $ZEN tokens across various blockchain networks. The introduction of the […]
Binance Announces Complete Exit from Russia, Selling Business to CommEX - The Coins Post
In a significant development for the cryptocurrency world, Binance, one of the leading global cryptocurrency exchanges, has recently announced its decision to sell its entire business operations in Russia to CommEX. This strategic move is in line with Binance’s commitment to providing a seamless transition for its Russian user base. The off-boarding process for Russian […]
Fireblocks buys Australian blockchain start-up BlockFold - The Coins Post
Fireblocks, the crypto company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based start-up that helps financial institutions build blockchain-based systems. As per Bloomberg , Fireblocks paid about $US10 million ($15.6 million) for BlockFold. While Fireblocks already works with large financial institutions, including Bank of New York Mellon, BNP Paribas and the […]
Uphold Exchange Announces Evernode Airdrop for XRP Holders - The Coins Post
Uphold exchange has revealed its support for the upcoming Evernode Airdrop. The airdrop, exclusively for XRP holders, promises to reward participants with EVRS tokens. The Evernode Airdrop: What You Need to Know Scheduled for September 1, 2023, at 6:00 PM AEST (8:00 AM UTC), the Evernode Airdrop snapshot is poised to capture the XRP holdings […]
Kuwait Authorities Unanimously Ban the Use of Virtual Assets - The Coins Post
In a collective effort, the regulatory authorities in Kuwait, represented by the Central Bank of Kuwait, the Capital Markets Authority, the Ministry of Commerce and Industry, and the Insurance Regulation Unit, have issued directives to prohibit the use and recognition of virtual assets within the country. The Kuwaiti Capital Markets Authority stated in a declaration […]
Eyeball Games Secures Funding for Next-Gen Pool Gaming on the Blockchain - The Coins Post
Eyeball Games, a Singapore-based gaming company, has successfully completed a funding round led by White Star Capital. Notable participants in this round include Polygon Ventures, Immutable, Ocular, Great South Gate Ventures, and prominent angel investors. White Star Capital invested from its Ubisoft-backed Digital Asset Fund, emphasizing the growing interest in blockchain gaming. The funding will […]
Vietnam's Crypto Crackdown: Authorities Investigate Pi Network - The Coins Post
Vietnamese authorities have launched an investigation into the activities surrounding the Pi cryptocurrency, citing concerns over its complex and unregulated nature. The Department of Cybersecurity and High-Tech Crime Prevention expressed apprehension regarding the high-income potential and multi-level marketing resemblances associated with cryptocurrency models like Pi. According to Vietnam Express, the investigation aims to address the […]
Unlocking the Tax Maze: Cryptocurrency Compliance in Australia - The Coins Post
As tax season approaches, cryptocurrency owners in Australia are being urged to be vigilant and comply with tax regulations. With the Australian Taxation Office (ATO) prioritizing capital gains, including cryptocurrencies, individuals who have omitted crypto transactions from previous tax returns may face scrutiny. According to Sky news, With millions of Australians estimated to invest in […]
MoneyGram and Stellar Blockchain: Revolutionizing Global Payments - The Coins Post
In a recently published case study by the Stellar Foundation, the groundbreaking collaboration between MoneyGram International and the Stellar blockchain has been highlighted. This case study sheds light on the innovative solutions and transformative potential of the partnership, as MoneyGram Access brings cash-to-crypto transactions to a global scale. Let’s explore how this partnership is revolutionizing […]
Binance Labs Invests in Promising Crypto Projects, Expanding Web3 Ecosystem - The Coins Post
Binance Labs, the esteemed venture capital and incubation arm of Binance, has recently revealed its latest investments in a group of outstanding projects from Season 5 of its highly regarded Incubation Program. These carefully chosen projects cover a diverse range of sectors within the Web3 ecosystem, including decentralized finance (DeFi), infrastructure, tooling, and middleware. With […]
Texas Emerges as a Cryptocurrency Mining Hub - The Coins Post
Everything truly is bigger in Texas, and that includes cryptocurrency mining operations. The Lone Star State currently boasts the largest cryptocurrency mining facility in North America, accounting for approximately 15% of global mining operations, according to researchers. However, along with the massive scale of these mining operations comes an equally large power consumption. Cryptocurrency mining […]
Scotland's Blockchain Economy: A £4 Billion Boost by 2030 - The Coins Post
In a recently published report titled “Blockchain Industry in Scotland Landscape Overview: Companies, Investors, Influencers and Trends,” Scottish Enterprise unveils an economic forecast indicating that Scotland’s blockchain economy has the potential to contribute £4.48 billion to the country’s GDP by 2030. The comprehensive report, produced by Deep Knowledge Analytics, provides an overview of Scotland’s entire […]
Detect and Defend: Google Cloud's New Cryptomining Protection Program - The Coins Post
Google Cloud has announced the launch of its Cryptomining Protection Program, an innovative initiative aimed at providing enhanced security against cryptomining attacks. The program, offered exclusively to Security Command Center (SCC) Premium customers, includes financial protection of up to $1 million to cover unauthorized compute expenses associated with undetected attacks. In the past, threat actors […]
Saudi Blockchain Company IR4LAB Expands Operations to Africa at GITEX Africa 2023 - The Coins Post
IR4LAB, a Saudi-based company at the forefront of disruptive technologies like Blockchain and Artificial Intelligence, has announced its expansion into Africa during the prestigious Gitex Africa event held in Morocco from May 31 to June 2, 2023. With a focus on fostering innovation and driving technological advancements, IR4LAB is committed to making a significant impact […]
Cryptocurrency-Romance Scam: Iowa Man Allegedly Robbed of $232,000 in Virtual Love Affair - The Coins Post
In a disheartening incident, a Webster County resident from Iowa is taking legal action against an unidentified group of individuals responsible for a cryptocurrency-romance scam. The victim claims to have lost $232,000 in this elaborate scheme, which also involved threats to harvest his organs. The emergence of such scams, known as “pig butchering,” has resulted […]
Russian Individuals Charged for $400 Million Mt. Gox Bitcoin Hack - The Coins Post
The United States federal government has charged two Russian individuals in connection with the infamous Mt. Gox Bitcoin exchange breach that occurred in 2014. In a recent press release, the Department of Justice revealed the unsealing of a 2019 indictment, charging Alexey Bilyuchenko and Aleksandr Verner with conspiracy to launder approximately 647,000 Bitcoins, valued at […]
Africa's Web 3.0 Potential Soars: Investment in Blockchain Surges by 1668% - The Coins Post
In the midst of Africa’s economic transformation, half of its population resides in countries that have thrived on the continent. With abundant human capital and natural resources, Africa possesses the potential to accelerate productivity and redefine its economic growth, which is more crucial than ever for global welfare. A recent report by Mckinsey & Company […]
Mercado Bitcoin Obtains Payment Provider License from Brazil's Central Bank - The Coins Post
Cryptocurrency exchange Mercado Bitcoin has received a payment provider license from Brazil’s central bank, allowing it to introduce its fintech solution called MB Pay. This milestone paves the way for expanded services and improved customer experiences within the Brazilian crypto market. Additionally, the country’s favorable regulatory environment has attracted global crypto firms, further bolstering Brazil’s […]
Volcano Energy Secures $1 Billion for Solar and Wind-Powered Bitcoin Mine in El Salvador - The Coins Post
Volcano Energy, in collaboration with Tether and other investors, has announced $1 billion in commitments to establish a 241 MW bitcoin mining site in El Salvador. The mining facility, powered by solar and wind energy, aims to harness renewable resources for sustainable cryptocurrency mining. This groundbreaking initiative marks an important step in El Salvador’s evolving […]
Swift Collaborates to Enhance Tokenized Asset Settlement with Blockchain Interoperability - The Coins Post
Swift, the global provider of secure financial messaging services, is actively exploring blockchain interoperability to address the challenges faced by institutional investors when dealing with tokenized assets. These investments are tracked on various blockchain networks that lack interoperability, resulting in significant overhead and friction. To tackle this issue and promote long-term scalability in the market, […]
Former Minnesota Vikings Co-Owner Sentenced to Prison for $700 Million Cryptocurrency Scam - The Coins Post
Reginald Fowler, a former co-owner of the Minnesota Vikings, has been handed a prison sentence of over six years for his involvement in a $700 million cryptocurrency scam that targeted the Alliance of American Football. The scam led to the collapse of the professional football league, which faced financial difficulties in 2019. Fowler, who misled […]
SEC Files Lawsuit Against Coinbase for Alleged Market Rule Violations - The Coins Post
In a widening crackdown on the cryptocurrency market, the Securities and Exchange Commission (SEC) has sued Coinbase, the largest crypto trading platform in the United States. The SEC accuses Coinbase of breaking the law by failing to register as a broker and allowing users to trade unregistered securities. This legal action comes on the heels […]
New Zealand Banks Maintain Cautious Stance on Cryptocurrency to Ensure Customer Safety - The Coins Post
Major banks in New Zealand are standing firm on their strict controls and, in some cases, bans on cryptocurrency users and traders. This approach has drawn criticism from Easy Crypto, a local crypto firm, accusing the banks of bullying behavior for refusing transactions and denying bank accounts to businesses and consumers involved in digital currencies. […]
SEC Files Lawsuit Against Binance: Impact on Crypto Market - The Coins Post
In a significant development for the cryptocurrency world, the Securities and Exchanges Commission (SEC) has launched a lawsuit against Binance, the world’s largest cryptocurrency exchange. The allegations include operating an unregistered national securities exchange, broker-dealer, and clearing agency, as well as misusing user funds and offering unregistered securities. The news sparked panic selling, leading to […]
Unlocking the Potential: Iraq's Journey Towards Blockchain Legislation - The Coins Post
Amidst ongoing political and economic instability, Iraq is witnessing a growing interest in harnessing the power of blockchain technology as a catalyst for social change and innovation. As a decentralized and transparent ledger system, blockchain offers promising solutions for a range of applications, including cryptocurrencies, smart contracts, digital identity, and supply chain management. However, the […]
Blockchain's Decentralized Trust: Unleashing Potential and Overcoming Challenges in 2023 - The Coins Post
As we enter 2023, blockchain continues to be hailed as a system of decentralized trust, revolutionizing various industries with its secure and transparent digital ledgers. This technology, known for its ability to track and verify transactions without relying on a central authority, has gained widespread adoption across sectors such as finance, healthcare, and supply chain […]
Trading Wars: Unveiling the Similarities and Differences of Forex and Cryptocurrency - The Coins Post
In recent years, both forex (foreign exchange) and cryptocurrency trading have gained immense popularity among investors and traders. While they share some similarities, such as being forms of speculative trading, they also have distinct characteristics that set them apart. Understanding the similarities and differences between forex and cryptocurrency trading is crucial for anyone looking to […]
QRL's Quantum-Safe Blockchain Technology: Safeguarding Cryptocurrency Against the Looming Quantum Threat - The Coins Post
As the rise of quantum computing looms on the horizon, the security of cryptocurrencies faces a grave challenge. Quantum Resistant Ledger (QRL), the pioneering post-quantum store of value and decentralized communication network, is poised to address this imminent threat. By leveraging cutting-edge quantum-safe blockchain technology, QRL aims to revolutionize the cryptocurrency industry and provide a […]
The Challenges of Policing Cryptocurrency Fraud: CFTC Commissioner Shares Insights - The Coins Post
In an enlightening revelation, Christy Goldsmith Romero, a commissioner at the Commodity Futures Trading Commission (CFTC), acknowledged the challenges of policing cryptocurrency fraud due to its widespread nature. Despite the agency’s active pursuit of several significant cases, she admitted that the sheer volume of fraudulent activities makes it impossible to catch them all. Speaking at […]
Hong Kong Opens Doors to Retail Trading of Cryptocurrencies from June 1 - The Coins Post
In a significant development for Hong Kong’s ambitions to become a leading virtual-assets hub, the Securities and Futures Commission (SFC) has announced the finalization of rules that will enable retail trading of cryptocurrencies starting from June 1. This eagerly anticipated move allows licensed exchanges to offer cryptocurrencies such as bitcoin and ether to retail investors, […]
The Environmental Impact of Cryptocurrencies: Balancing Innovation and Sustainability - The Coins Post
Concerns about the environmental impact of cryptocurrency transactions are increasingly coming to the forefront. This article explores the potential ecological consequences of virtual currencies and raises the question of whether they can be sustainable in the long run. Let’s delve into the world of cryptocurrency and its environmental implications. Contents1 Understanding Cryptocurrency:2 The Creation of […]
Hong Kong Company Director Falls Victim to Multi-Million Dollar Cryptocurrency Scam - The Coins Post
In the latest wave of cryptocurrency scams, a 47-year-old Hong Kong company director has been swindled out of more than HK$16 million (US$2 million). The businessman, who wishes to remain anonymous, fell prey to a fraudulent investment expert he befriended on Facebook and subsequently communicated with on WhatsApp. According to the SCMP, the scammer convinced […]
Understanding Shiba Inu Coin - The Coins Post
Lately, Shiba Inu Coin has gained significant attention in the crypto market, despite its relatively low value. This article aims to provide insights into the Shiba Inu Coin, its origins, and its potential as an investment. If you’re curious about this cryptocurrency and whether it’s worth investing in, you’ve come to the right place. Let’s […]
Cryptocurrency Scam Targets British Investors: Cancer Patient Shares Personal Losses - The Coins Post
In a distressing turn of events, Tom Roberts, a 66-year-old British man, has fallen victim to an intricate cryptocurrency scheme, losing £10,000 of his hard-earned retirement money. Roberts, who is currently battling cancer, has come forward to raise awareness and caution others about the dangers of investing in what he describes as a “scam.” According […]