Crypto

Unapproved Bitcoin Mining Plant Forced to Close Shop

Source: Link Global Technologies / Twitter Noise complaints from residents of an affluent estate community in the Canadian province of Alberta lead to a months-long investigation which discovered a Bitcoin (BTC) mining operation that had been set up without approval – and now has to shut down. Vancouver-based Link Global is the name of the company that established the operation, ...

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Tether Frozen in Poly Hack Returned to Owners, Fuelling Centralization Debate

Source: AdobeStock / RuskaDesign The tether (USDT) that was frozen by its issuer Tether during the recent Poly Network hack have been returned to their rightful owners, Tether announced. However, this has raised concerns that this particular part of the cryptocurrency space is not as decentralized as it claims to be. On Wednesday, the official Twitter account of Tether announced ...

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Recovering Hash Rate, Improving Metrics Indicate Market Rebound – Report

Source: AdobeStock / Parilov The recovering hash rate indicates that some mining operations are beginning to return online in new locations outside of China, and the worst of the crackdown could be over, according to a recent analysis by crypto financial intelligence provider CoinMetrics. With mining operations moving out of China following the ongoing government crackdown, Bitcoin hash rate plummeted ...

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Chinese Court Says Crypto is ‘Not Protected By Law’

Source: AdobeStock / Wit In a landmark ruling that could shake China’s crypto scene, the Supreme Court of the Shandong province has ruled that cryptocurrency “was not protected by law” after deliberating on a case that involves a potential fraud related to the purchase of tokens, as reported by The South China Morning Post. A Chinese plaintiff invested some RMB ...

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Insurance on Crypto Exchanges Inches Up, KYC Still Weak – Report

Source: AdobeStock / vetre Cryptocurrency exchanges are showing an increase in their tendency to insure clients’ assets, both formally and in informal ways through insurance funds, a new report finds. On the other hand, know-your-customer (KYC) stringency is still weak on many exchanges, with around a third having poor or inadequate KYC programs, and a fourth of them were found ...

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Cardano Fuelled Again by Stablecoin and Smart Contract Progress

Source: AdobeStock / Araki Illustrations Cardano’s native token ADA today resumed its price rally as work continues on the smart contract-enabling “Alonzo” upgrade, and a new paper is published that details the technical underpinnings of a Cardano-powered stablecoin. As of press time on Thursday (09:09 UTC), ADA was up by 5.1% over the past 24 hours, trading at USD 2.12. ...

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Crypto Sector World’s 3rd Industry in Phishing Attacks Growth – Report

Source: AdobeStock / alexlmx Phishing activities continue to intensify across the world, with their volume for the second quarter of 2021 outpacing the same period last year by 22%. Cryptocurrency increasingly finds itself in attackers’ sight, with a tenfold increase in attacks on exchanges, according to a recent report by cyber threat intelligence company PhishLabs. Due to a spike in ...

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Beijing Court to Create Property Right Framework for ‘Digital Currencies’

Source: AdobeStock / corund The Beijing Financial Court has outlined its intention to protect the property rights of “digital currency” holders – but only if such “currencies” are “legally” recognized by the Chinese state. Speaking at a press conference held at the court yesterday, Cai Huiyong, who was appointed as the court’s President in March this year, announced that the ...

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