The writing was already on the wall, but the company confirmed it’s going bust Prime Trust, a crypto custodian, has filed for Chapter 11 bankruptcy protection in Delaware after a recent shortfall in customer funds. According to a filing on August 15, the company has between 25,000 and 50,000 creditors, with estimated liabilities of between
The payments platform steps deeper into the crypto space with a new tool PayPal is taking another step forward with its plans to embrace cryptocurrency. The new Cryptocurrencies Hub is crucial to PayPal’s plan to reinvent the platform as crypto-inclusive and will allow users to buy and sell cryptocurrencies, among other features. The online payments
Crypto fans need to be extremely cautious with their holdings Digital asset infrastructure corporation Fireblocks has disclosed that more than 15 leading online crypto wallet providers have serious vulnerabilities that could potentially put millions of customer accounts at risk. Crypto fans should take note and protect their assets more than ever. Fireblocks said in an
Fenwick & West allegedly set up shell companies for the company, leading to a class-action suit Fenwick & West LLP, former primary counsel for FTX, will be facing a class-action suit that claims the firm assisted the crypto exchange’s alleged multibillion-dollar fraud scheme. A group of FTX customers filed the suit in a California District
The South American country is advancing its state-run cryptocurrency plans The Central Bank of Brazil’s digital currency (CBDC), previously known as the “digital real,” now has an official new name: the Drex. The Central Bank of Brazil issued a press release on August 7, divulging and describing the new brand for its CBDC. The brand
Although a hacker returned some of the money, most is still missing Decentralized finance (DeFi) protocol Curve Finance is offering a bug bounty to anyone that can identify the parties responsible for sapping over $61 million from its pools on July 30. Although some of the money was returned, there’s still a lot more out
The cryptocurrency exchange believes the regulator is conducting a witch hunt Coinbase Chief Legal Officer Paul Grewal said the company would seek to dismiss the lawsuit filed by the Securities and Exchange Commission (SEC), asserting that the crypto exchange never sold securities as alleged. Coinbase plans to file an order seeking dismissal of the SEC
Google and Apple are slipping when it comes to controlling what’s available for their platforms Sophos has released new findings on CryptoRom (cryptocurrency and romance) scams about a subset of techniques developed to trick dating app users into making fake cryptocurrency investments. Sophos X-Ops has followed CryptoRom fraudsters that have been refining their methods since
The crypto exchange believes the Lightning Network might help it speed up transactions In order to enable faster cryptocurrency payments, Coinbase is planning to integrate Bitcoin’s Lightning Network. CEO Brian Armstrong commented that Coinbase backs the efforts to facilitate Bitcoin payments via the Lightning Network. Armstrong was commenting in response to a tweet by former
Hackers are getting more sophisticated, uncovering new ways to steal crypto This week, researchers warned about two related malware campaigns, CherryBlos and FakeTrade, which target Android users to steal cryptocurrency and other money-making scams. The malware is distributed through fake Android apps on Google Play, social media platforms, and phishing sites. Trend Micro said its
Two people have been arrested and another is still under investigation for the crime Federal prosecutors say two armed suspects held an elderly North Carolina couple hostage in their home and threatened to “cut off (the) husband’s toes and genitalia, to shoot him, and to rape his wife” before stealing over $156,000 in cryptocurrency. According
The Argentine millionaire had been missing for a week A missing Argentinian cryptocurrency millionaire and Instagram influencer has been found dead, and police suspect he was murdered after his body was found dismembered in a suitcase. Crypto trader and influencer Fernando Pérez Algaba was reported missing on July 18 after failing to answer his phone
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