Tag Archives: cryptocurrency

Bitcoin News reports: Data from blockchain analytics firm Chainalysis shows that October is “the biggest month in the biggest year ever for hacking activity.” The firm added that crypto hackers have grossed over $3 billion across 125 hacks so far this year. Chainalysis wrote: “After four hacks yesterday, October is now the biggest month in the biggest year ever for …

Ars Technica reports: Hackers have stolen around $570 million in tokens from Binance, in a rare blow to the world’s biggest crypto exchange and another dent to the troubled digital assets industry struggling to regain trust after a collapse in prices. It comes at a time when digital assets are trying to recover from a credit crisis that wiped nearly …

Via press release from the SEC: The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing …

Reuters reports: U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year. Nomad said in a tweet that it was “aware of the incident” and was currently investigating, without giving further details or the value of the theft. Blockchain bridges have …

From the Justice Department: The CEO of Titanium Blockchain Infrastructure Services Inc. (TBIS) pleaded guilty Friday in the Central District of California for his role in a cryptocurrency fraud scheme involving TBIS’s initial coin offering (ICO) that raised approximately $21 million from investors in the United States and overseas. According to court documents, Michael Alan Stollery, 54, of Reseda, California, …

Reuters reports: U.S. crypto lender Celsius Network said on Wednesday it had filed for bankruptcy in New York, becoming the latest victim in the cryptocurrency sector of a dramatic plunge in token prices. New Jersey-based Celsius froze withdrawals last month, citing “extreme” market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. In …

Axios reports: The FBI has offered a $100,000 reward in its search for Ruja Ignatova, the so-called “Cryptoqueen” who allegedly helped defraud investors out of $4 billion with a cryptocurrency scam. Ignatova was added to the FBI’s list of the 10 most-wanted fugitives this week. The FBI is asking for any information about the alleged fraudster, who disappeared in 2017. …

Reuters reports: North Korean hackers are most likely behind an attack last week that stole as much as $100 million in cryptocurrency from a U.S. company, three digital investigative firms have concluded. The cryptoassets were stolen on June 23 from Horizon Bridge, a service operated by the Harmony blockchain that allows assets to be transferred to other blockchains. Since then, …

TechCrunch reports: A hacker has exploited a vulnerability to steal $100 million from Harmony’s Horizon Bridge, which allows users to transfer their crypto assets from one blockchain to another. Harmony, the U.S. crypto startup behind Horizon, said in a blog post on Friday that it was notified of a “malicious attack” on its proprietary Horizon blockchain bridge on Thursday. Blockchain …

Forbes reports: Bitcoin has crashed under $20,000 per bitcoin after a huge crypto market meltdown wiped away around $400 billion of value in just a week – with some traders’ worst fears materializing. Billionaire investor Jeff Gundlach warned he wouldn’t be surprised to see the bitcoin price fall further to hit $10,000. The brutal bitcoin and crypto crash was partly …

The Hill reports: A cryptocurrency investor has sued Elon Musk for $258 billion, saying the Tesla co-founder ran a pyramid scheme via Dogecoin. The lawsuit filed by plaintiff Keith Johnson in New York, has accused Musk and his companies, Tesla and Space X, of running a “pyramid scheme” to inflate the price of the cryptocurrency. The lawsuit added that, “Defendants …

CNBC reports: Bitcoin tumbled below $23,000 on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets. Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. Over the weekend and into Monday morning, more than $200 billion had been …

The Daily Beast reports: A new class-action lawsuit filed by an investor in Trumpworld’s favorite “Let’s Go Brandon” meme coin claims that some of the token’s key players orchestrated a pump-and-dump scheme. A number of former President Donald Trump’s most loyal fans bought into the crypto hype, only to see the value of their investments plummet. Ultimately, the 79-page suit …

The New York Daily News reports: Mayor Adams waxed poetic about cryptocurrencies during a visit to Miami on Tuesday, touting the non-government-backed currencies as an antidote to “historical inequalities” in the U.S. economy. Adams, a vocal crypto booster who promised last year to convert his first three City Hall paychecks into Bitcoin and Ethereum, offered the effusive praise while attending …

From the Justice Department: A federal grand jury in San Diego returned an indictment today charging the founder of BitConnect with orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion. According to court documents, Satish Kumbhani, 36, of Hemal, India, the founder of BitConnect, misled investors about …

The Daily Beast reports: The MAGA-themed “Let’s Go Brandon” Ethereum cryptocurrency has fallen on tough times. So much so that the value of all 330 trillion coins totals just a few thousand dollars combined, according to the trading sites CoinMarketCap and Crypto, a far cry from the days of pro-Trump investors believing they could strike it rich. That represents a …

The New York Daily News reports: Mayor Adams revealed Thursday that he will convert his first City Hall paycheck into cryptocurrency, seeking to make good on a campaign promise to use and promote the virtual cash system while in office. The first paycheck, due to arrive Friday, will “automatically be converted” into Bitcoin and Ethereum, two popular cryptocurrencies, via Coinbase, …

USA Today reports: A partnership between NASCAR driver Brandon Brown and a cryptocurrency coin named after the “Lets go Brandon” meme, a coded vulgar insult of President Biden, appeared to be in limbo on the same day the deal was announced. Max Marcucci, a PR strategist who represents the racecar driver and Brandonbilt Motorsports, said NASCAR provided written approval of …

CNN reports: Melania Trump is getting in on the latest crypto craze — NFTs. The former first lady announced Thursday that she is selling an NFT, or a non-fungible token, titled “Melania’s Vision” — her first public endeavor since leaving office almost one year ago. The NFT is the first digital art to be sold on her newly launched platform, …

The Los Angeles Times reports: Staples Center is getting a new name for Christmas: Crypto.com Arena. The downtown Los Angeles venue — home of the Lakers, Clippers, Kings and Sparks — will wear the new name for 20 years under a deal between the Singapore cryptocurrency exchange and AEG, the owner and operator of the arena, both parties announced Tuesday. …