The leaked documents show many banks ‘enabling’ money laundering. Leaked documents from the U.S. Financial Crimes Enforcement Network (FinCEN) imply that the agency’s revamped efforts to identify illicit transactions and money laundering may not be sufficient. But on this occasion, the institutions described as being at fault are not crypto exchanges, but some of the […]
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Yoshihide Suga is set to replace retiring PM Shinzo Abe. Yoshihide Suga has made few public statements on digital currency, but his stance on taxing crypto assets may prove to be the most insightful. The 71-year-old is set to become the country’s new prime minister after being voted in as the leader of Japan’s Liberal […]
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Binance’s lax KYC requirements are creating more legal problems for the exchange. Binance’s famously light Know Your Customer requirements are being targeted by the current owners of Zaif, a Japanese cryptocurrency exchange that got hacked in 2018. Plaintiffs are claiming that its weak KYC requirements and high daily withdrawal limit facilitated the laundering of $60 […]
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With government agencies getting more savvy at tracing blockchain transactions, laws like the EU’s GDPR may play a role. Anti-establishment and counter-government sentiments fuelled the early days of crypto. More than a decade later, crypto is slowly moving away from its wild-west early days and into a more organized system that traditional financial institutions are […]
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Check out this week’s Bad Crypto podcast. It’s been a tough week for Bitcoin. The price has fallen more than 8 percent and dipped below $10,000 on three consecutive days. Analyst Willy Woo, though, thinks it’s all looking good. He believes that on-chain indicators, such as the NVT ratio, suggest a bullish outlook, while Su […]
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Whether CZ is coming to the rescue or not remains to be seen. Eterbase, a Slovakia-based crypto exchange, was recently the victim of a $5M hack. According to an update from Eterbase, some of these funds appear to have ended up on a number of popular exchanges, including Binance, Huobi Global, and HitBTC. Binance CEO’s […]
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Before we run to build more DeFi products, let’s first walk to improving the underlying infrastructure. Decentralized finance has become the fastest-growing sector of the blockchain industry. Today, there are over 200 projects working on a wide variety of decentralized financial products and services. That number continues to increase every day as new DeFi-related projects […]
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Hot wallet attacks have been making a lot of headlines lately. Crypto exchange Eterbase recently fell victim to a hack of its hot wallets. According to a statement issued by the Slovak Republic-based exchange, hackers extracted approximately $5.4 million from the exchange’s accounts on August 8. Shortly thereafter, Eterbase assured users that law enforcement had […]
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An anonymous user managed to net a profit of $250k from a $200 outlay due to a flaw in a DeFi protocol clone’s rebase code. An anonymous user has revealed how he made $250k in profits from a minor investment in a cloned version of Yearn.finance called Soft Yearn (SYFI). The token SYFI was launched […]
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The crypto investor may not have promoted Bitcoin Cash on Twitter after all. Tim Draper, a famous American venture capitalist and serial cryptocurrency investor, might not have promoted Bitcoin Cash after all. A hacker appears responsible for a Sept. 4 tweet from Draper stating that he had recently purchased Bitcoin Cash (BCH) that personally thanked […]
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