The exchange’s founders face charges of running an unlicensed money services company Only weeks after its co-founder arranged to disband the crypto exchange as part of his guilty plea in a Brooklyn court, Bitzlato announced it must “temporarily suspend” all Bitcoin withdrawals. In a December 27 post on its Telegram channel, the firm asserted this
The cryptocurrency ecosystem has shown progress in protecting itself from fraud and theft A shift in the online cryptocurrency trend of hacks and thefts was seen in 2023, with security firms tracking the incidents reporting a reduction in the total amount stolen as opposed to past years, but the threat remains substantial. Crypto hackers stole
Digital art continues to be profitable despite a dip in popularity Sotheby’s, one of the world’s largest art brokers and auction houses, had “close to $35 million” in digital art sales in 2023. The amount was disclosed by company vice president and head of digital art, Michael Bouhanna, who dubbed 2023 as “one of the
Scammers continue to find new ways to attack the cryptocurrency ecosystem A wallet-draining service called “MS Drainer” was recently used by scammers over the past nine months to steal about $59 million in crypto from victims, according to blockchain security firm Scam Sniffer in a December 21 report on X (formerly Twitter). The criminals used
A fake video of Ripple CEO Brad Garlinghouse is making its way across the web There’s a new cryptocurrency scam out there that is taking scams to a new level. Reddit users are talking about a deepfake video showing Ripple CEO Brad Garlinghouse requesting that XRP holders send their cryptocurrency to a specific address, with
The approval marks a huge milestone for the cryptocurrency and blockchain Cryptocurrency payments platform Ripple has achieved another regulatory landmark in Ireland, as the Central Bank of Ireland (CBI) has approved the company as a virtual asset service provider (VASP). Ripple made the announcement on December 19, saying it is now on the CBI’s list
The fine is the result of the exchange allegedly operating in the US without proper licenses A US court has ordered cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay $2.7 billion to settle claims it violated US monetary regulations. CZ must also pay $150 million to the Commodity Futures Trading Commission
The cryptocurrency exchange has failed in its attempt to have the SEC develop guidance On December 15, the US Securities and Exchange Commission (SEC) denied cryptocurrency exchange Coinbase Global’s petition to issue rules handling digital assets. Chairman Gary Gensler repeated his stance that “no further regulation is needed to oversee the crypto market.” “The current
Ledger CEO Pascal Gauthier doesn’t believe a hack on Thursday did much damage Ledger CEO Pascal Gauthier recently addressed the wallet’s December 14 hack, saying in a company blog post that it is working with authorities to “find this bad actor, bring them to justice.” He stated that the hack of Ledger’s Javascript connector library
The changes could see creditors lose almost 40% of their original investments Gemini Earn creditors are upset over the company’s proposed reorganization plan, which could see the Bitcoin payouts promised virtually cut to about 30% of their current worth on the market. In a recent X post (formerly Twitter), Gemini Trust announced it sent creditors
The pair promised investors they could guarantee returns using AI-based trade bots The US Department of Justice (DOJ) has charged two individuals for operating an alleged $25-million artificial intelligence (AI) cryptocurrency-trading Ponzi scheme. According to the December 12 court filing, Australian David Gilbert Saffron and Vincent Anthony Mazzotta Jr. from Los Angeles have been accused
Senator Elizabeth Warren is doubling down on crypto enforcement Crypto legislation reintroduced in July has gained the support of several US Senators, but opposers have implied it could threaten financial independence and privacy. Massachusetts Senator Elizabeth Warren, a candid critic of digital assets in the US government, has reported that five more senators have agreed
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