The Recent Cyber Attack Shook the Employees of the World’s Largest Crypto Exchange CoinBase
The popularity of cryptocurrencies are expanding rapidly, but it appears that this popularity is turning into a curse for the exchanges as one of them seems to be under attack every other day. A new name has recently been added to this long list as a cybersecurity attack shook the employees of the popular cryptocurrency exchange Coinbase. Let’s explore the …
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South Korea Initiates Crackdown on Cryptocurrency Staking Services After Kraken Incident
South Korea’s financial regulators are taking a hard stance against cryptocurrency exchanges offering staking services, as the country looks to avoid repeating the disastrous saga that has unfolded between SEC and Kraken. An in-depth inspection is set to be launched by the Financial Service Commission to investigate any potential issues with staking in South Korea – a move made even …
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Binance has been Caught Red-Handed Moving the Huge Amount from its US Partner
Crypto exchanges have recently come under government scrutiny, eliciting mixed reactions from crypto enthusiasts. While some have welcomed and encouraged this development as a way to bring credibility to cryptocurrencies, others remain skeptical of increased regulation due to fears that it will stifle innovation in the space. However, a recent incident has once again highlighted the need for scrutiny against …
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Norwegian Police Seize $5.9M from a Crypto Game
Norwegian police have seized a large chunk of money, resulting in around 60 million kroner (roughly $5.9 M) from a crypto game named Axie Infinity. This seizure did not happen overnight. The authorities have been in search of these scammers since last year. The incident occurred in March 2022 when a group of hackers hacked a crypto game called Axie …
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DBS Exchange Defies Crypto Winter as Bitcoin Trading Surges 80% in 2022
The crypto winter of 2022 has not deterred trading on the DBS Exchange, as the platform has seen an impressive 80% surge in Bitcoin trading. The Singapore-based exchange, which is owned by DBS Bank, has managed to remain resilient amidst the market volatility, continuing to attract users and volume. Factors behind the success of DBS Exchange The exchange’s success can …
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UAE to Launch CBDC for Streamlined Digital Payments
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Brandon Davis
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February 13, 2023
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Crypto, Gaming, News
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Crypto
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The United Arab Emirates (UAE) has announced plans to issue a Central Bank Digital Currency (CBDC) to encourage the adoption of digital payments in the country. The CBDC is a digital form of a country’s traditional fiat currency that is issued and regulated by the central bank. It is expected to bring about a significant change in the financial sector, …
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Crypto Scammer Rakes in $250M with Fake Trading Firm, Leaves Loot Untouched
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Brandon Davis
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February 13, 2023
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Crypto, Gaming, News
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Crypto
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The head of EminiFX, a fraudulent platform for cryptocurrency and foreign exchange, has admitted to deceiving investors and embezzling almost $250 million. Eddy Alexandre’s fraudulent activities and personal expenditures Eddy Alexandre the CEO of the supposed crypto trading website EminiFX lured in a large number of investors by promising them 5% weekly returns and claimed to be using a “Robo-Advisor …
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PayPal Halts Stablecoin Plans Amid Growing Regulatory Scrutiny of Crypto
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Brandon Davis
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February 11, 2023
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Crypto, News
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Crypto
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0 Comments
PayPal, a leading online payment provider, has aborted its plans to create a stablecoin as regulators continue to increase scrutiny on cryptocurrencies. A stablecoin is a type of cryptocurrency that is backed by a fiat currency or a commodity, which helps to stabilize its value. The decision to cancel the project comes as regulators globally are increasing their focus on …
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Shiba Inu’s Lead Developer Emphasizes Significance of Unification’s Shibarium Announcements
A developer of Shiba Inu, Shytoshi Kusama, advised the SHIB community to pay attention to the Unification Foundation’s updates on Shibarium, the upcoming layer-2 network for the cryptocurrency. Kusama emphasized that the foundation is working with the Shiba Inu team for a successful launch of Shibarium, and therefore the community should not dismiss any information from Unification regarding the project. …
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Kraken Waves Goodbye to Staking in the US, Reaches $30 Million SEC Agreement
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Brandon Davis
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February 10, 2023
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Crypto, News
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0 Comments
Kraken, a popular cryptocurrency exchange, has recently announced the closure of its Staking-as-a-Service (SaaS) in the United States due to a settlement with the Securities and Exchange Commission (SEC). The settlement, amounting to $30 million, puts an end to the legal dispute between Kraken and the SEC over the offering of unregistered securities. Kraken’s Withdrawal from Staking-as-a-Service Kraken has decided …
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