Browsing:Crypto News

Russian lawmakers have announced that cryptocurrency legislation
2 days ago 1 min read

Russian lawmakers set to introduce crypto legislation next month

Russian lawmakers have announced that long-awaited crypto legislation will be presented to the State Duma for debate in April. Despite the optimism expressed by the Chairman of the State Duma’s committee on the financial markets, Anatoly Aksakov, critics have raised concerns about the proposed bill. It will reportedly seek to punish illegal crypto exchanges and brokers with jail time, an approach that has been likened to draconian measures taken in the Soviet era to stamp out black market foreign currency trading. Former deputy head of the Central Bank, Sergei Shvetsov, spoke out against the proposed bill, stating that criminal liability

SEC Urges Investors to Consider Risks Before Investing in Crypto Securities
3 days ago 1 min read

SEC Issues Warning to Investors Regarding the Risks of Crypto Securities

The U.S. Securities and Exchange Commission (SEC) is urging investors to exercise caution when investing in cryptoasset securities. The agency’s Office of Investors Education and Advocacy has warned that platforms offering crypto trading may not be complying with federal securities statutes. In a bulletin issued on Thursday, the SEC emphasized that the law requires securities broker-dealers, investment advisers, and exchanges to register with the SEC, a state regulator, or a self-regulatory organization. Entities and platforms involved in lending or staking crypto assets may also be subject to federal securities laws. This warning follows the SEC’s previous attempts to demonstrate that

$4 Billion OneCoin Scandal
3 days ago 1 min read

Fraud Charges Filed Against Woman Linked to $4 Billion OneCoin Scam

The U.S. Department of Justice (DOJ) has announced that it is charging Bulgarian national Irina Dilkinksa with fraud for her alleged role in a multibillion-dollar crypto scheme. Dilkinksa is believed to have been the head of the legal and compliance department of OneCoin, a $4 billion pyramid scheme that marketed itself as a cryptocurrency firm. According to the DOJ, Dilkinksa helped OneCoin launder millions of dollars of illegal proceeds through shell companies, despite her supposed role in the company as head of legal and compliance. The pyramid scheme, which was started by “cryptoqueen” Ruga Ignatova in 2014, was found to

FTX Goes After Bankman-Fried-Backed VC Firm for $460M
4 days ago 1 min read

FTX Aims to Recover $460M from VC Firm with Ties to Bankman-Fried

The bankrupt cryptocurrency exchange, FTX, is seeking to recover $460 million in allegedly misappropriated customer funds from venture capital firm Modulo Capital. The venture capital firm received a sizeable investment from Alameda Research last year, which is understood to have been at the direction of FTX’s CEO, Sam Bankman-Fried. FTX claimed that Alameda Research invested $475 million in Modulo in a series of transfers beginning in May 2022. According to a filing made on March 22, Alameda entered into a limited partnership agreement with Modulo on June 16, resulting in the transfer of the aforementioned funds to Modulo in exchange

Encrypted Message Used in Attempted Phishing Attack on Euler Finance Exploiter by North Korean Hacker
4 days ago 2 mins read

Euler Finance Exploiter Receives Phishing Attempt from North Korean Hacker Group Lazarus

On March 13, Euler Finance suffered a massive exploit that led to the loss of approximately $200 million in stolen funds. Since then, the victim firm has been in talks with the hacker via on-chain communication to settle the deal, with the hacker returning $5.4 million to Euler Finance. However, things took a new turn when a wallet address linked to the North Korean hacker group Lazarus sent an encrypted message to the Euler Finance exploiter on Tuesday. According to experts, the message is likely an attempt to trap the Euler’s hacker in a phishing scheme and drain stolen funds

Venezuelan President Nicolas Maduro has decided to restructure and reorient the National Superintendency of Crypto
6 days ago 1 min read

Venezuela’s Crypto Department Set for Reform: What Lies Ahead?

In a bid to safeguard the country’s citizens from the negative impacts of economic sanctions imposed by the US, Venezuelan President Nicolas Maduro has decided to restructure and reorient the National Superintendency of Crypto Assets. The decree, issued in March 2023, has set the wheels in motion for the reorganization of the crypto asset department, which will be headed by a new board, led by Anabel Pereira Fernandez. Anabel Pereira Fernandez, a lawyer who previously served as president of the Fondo de Garantia de Depositos y Proteccion Bancarai (FOGADE), will spearhead the reorganization efforts. Other project directors include Hector Andres

Scammers have already started targeting the Arbitrum community
6 days ago 1 min read

Scammers target Arbitrum community with fraudulent airdrops

The Ethereum layer-2 scaling solution, Arbitrum, is set to launch an airdrop of its governance token “ARB” on March 23. However, scammers have already started targeting the community with hundreds of phishing scams. The community has raised concerns about fraudulent airdrops aimed at tricking crypto users. The Arbitrum Foundation announced the airdrop on March 16, which will see 10 billion governance tokens distributed to holders to vote on code changes. The development has led to scammers setting up fake token airdrops with the intention of stealing funds from unsuspecting victims. Blockchain security firms Redefine and CertiK have warned about the

Bitcoin saw a significant surge in value on March 19
7 days ago 1 min read

Bitcoin Surges to $28k Amidst Banking Uncertainty

Bitcoin, the leading cryptocurrency, saw a significant surge in value on March 19, surpassing the $28,000 zone with a 16% boost in value in the past seven days. At the time of writing, Bitcoin was trading at $28,063, indicating a 2.4% increase in the past 24 hours. The price of Bitcoin hit its highest point at $28,459 during the day before trading at $26,877 during the day’s low. The cryptocurrency gained over 37% against the US dollar this week, with a market capitalization increase of $194 billion in 2023, representing a 66% gain year-to-date. Bitcoin has outperformed Wall Street banks

Bitcoin has now been running non-stop
1 week ago 2 mins read

Zero Downtime, 10 Years Strong: Bitcoin’s Uninterrupted Performance

Bitcoin (BTC) has reached an incredible milestone that cements its place in financial history. The cryptocurrency has now been running non-stop for a decade without any downtime. This is a remarkable achievement, as it shows that the network is incredibly reliable and can operate continuously, 24 hours a day, seven days a week. The milestone was discovered through data retrieved from BitcoinUptime, shared by Reddit user Tasigur1 on March 17. According to the data, Bitcoin has run continuously for 3,650 days, making it a remarkable achievement for the cryptocurrency. Since its inception in 2009, the Bitcoin network has suffered two

ArenaDAO's Token ARENA
1 week ago 1 min read

ArenaDAO’s Governance Token Skyrockets Nearly 50% After Successful Vote on Paradigm Purchase

ArenaDAO’s governance token, ARENA, has experienced an 11.12% increase in the past hour and a whopping 48.99% surge in the past 24 hours, as the voting period for authorizing crypto investment firm Paradigm to purchase 150 million tokens or 15% of the total supply for $6 million USDC opened. The fully diluted valuation or market capitalization of all tokens in circulation currently stands at $79.8 million, according to Dex Screener, with a 24-hour volume of roughly $61,000, as reported by GeckoTerminal. Data from Nansen shows that 142 unique addresses are holding ARENA, which is a 10% increase since Monday. The

The Federal Deposit Insurance Corporation (FDIC) has denied reports that any purchaser of Signature Bank would be required to divest their crypto activities.
1 week ago 1 min read

FDIC Rejects Report on ‘s Buyer Being Required to Sell Crypto Holdings

The Federal Deposit Insurance Corporation (FDIC) has denied reports that any purchaser of Signature Bank would be required to divest their crypto activities. According to a Reuters report citing unnamed sources, “any buyer of Signature must agree to give up all the crypto business at the bank.” However, an FDIC spokesperson has denied this claim, stating that the acquirer will decide the conditions of their bid, and that the FDIC would not require divestment of crypto activities as part of any sale. In response to questions regarding the sale of Signature Bank, the FDIC spokesperson explained that the receivership does

Shiba Inu Token Tanks 10% Amid Shibarium Code Fiasco
2 weeks ago 1 min read

Shiba Inu Coin Plummets 10% as Shibarium Faces Code Controversy

Shiba Inu (SHIB) prices have fallen 10% in the past 24 hours, causing concern among investors and traders. This drop comes amid drama surrounding the codebase of the highly anticipated Shibarium blockchain. Last week, Shibarium released its beta version for the layer 2 network, which functions as a blockchain that mimics real-world functioning. The layer 2 network is built on top of layer 1 protocols that reduce bottlenecks with scaling and data. However, the launch was overshadowed by concerns raised by a top-ranked community member on Shiba Inu’s Discord channel. The concerns were related to Shibarium’s beta testnet using the