Bitcoin Resists After Zaif Exchange Hacking
Tech Bureau Corp., the operator of a Japanese crypto exchange Zaif, said that after unauthorized cybercriminals accessed the platform virtual currency worth $60 million (6.7 billion yen) was stolen from the service.
The platform was hacked last Friday, September 14. However, experts of Tech Bureau found the problem only on September 17. The next day, according to the representatives of the platform, Tech Bureau learned how much cryptocurrency was stolen during the hacking. Most of the stolen funds ($40 million or 4.5 billion yen) were kept as deposits of site customers. Immediately after discovering the hacking, the crypto exchange suspended all operations on the accounts.
WHY IS IT IMPORTANT?
- Against the backdrop of news about the hacking of Zaif, bitcoin rate initially decreased sharply, as it usually happens in cases of attacks on crypto platforms. The price of the first cryptocurrency for a short period of time first fell to $6,200. Then bitcoin began to grow rapidly. As of now, the currency is already trading at around $6,429.
Kraken and Co. Hit Back at New York Prosecutor
Cryptocurrency exchange Kraken has responded to the report recently published by the office of the New York Attorney General (AG). In its official Twitter account, the platform thanked the taxpayers of New York for the research funding.
The platform has stressed that report prepared and published by New York regulator saved their Product team a lot of time, as they got some interesting non-public info on their competitors.
Nevertheless, the company opposed the "highly unprofessional/malicious implication" that the platform did not respond to the prosecutor's request and could act illegally. The company reminded that it does not operate in New York.
WHY IS IT IMPORTANT?
- The CEO of Kraken Jesse Powell was not shy using expressions and compared the prosecutor's office to a girl who pursues her ex-boyfriend after breaking up. Note that Kraken left New York three years ago.
Malaysia Strengthens Economy with Blockchain
Malaysia plans to introduce a distributed ledger technology (DLT) in three largest industries. The blockchain will be used in renewable energy, palm oil industry, and Islamic finance. The government hopes to strengthen these sectors in particular and the entire economy of the country as a whole through the introduction of innovations.
WHY IS IT IMPORTANT?
- According to the recruiting company Robert Walters, the number of vacancies in the crypto area has increased by about 50% in the middle of this year, compared with data for 2017. Malaysia is among the top five in this direction. On the other hand, the rapidly developing economies of Asia need highly qualified experts who can introduce new technologies into operation.
- Malaysia pays a lot of attention to the DLT. This year NEM.io Foundation opened a blockchain center in the country. The company allocated $120,000 to develop projects based on DLT-technology. The NEM Malaysia Center will engage in promoting blockchain startups, as well as helping companies integrate distributed ledger technology into their projects.
Australia Strikes Out Five ICOs in Six Months
The Australian Securities and Investments Commission (ASIC) is serious about strengthening control over cryptocurrencies and ICOs. Since April 2018, the agency has stopped activities of five campaigns. The ICOs were blocked due to the lack of measures to protect investors. Some of them are now bringing their rules in line with the law in order to resume campaigns. According to the ministry, there is also an investigation underway regarding the actions of one completed ICO.
WHY IT IS IMPORTANT?
- ICO is not banned in Australia, and there are no laws in this country that strictly regulate their operation. Anyone who has access to the Internet can create and conduct such a campaign. Regulators constantly remind that this is a highly speculative investment and the probability of losing money, in this case, is really high.
- In early September, ASIC published a corporate plan for 2018-2022, which suggests tightening the regulation of crypto instruments and requirements for an ICO. In the coming year, the local watchdog will develop a legal framework to make the blockchain industry more transparent and safe for investors.
Binance Plans to Run Crypto Exchanges on Every Continent
One of the world's largest crypto exchanges, Binance, wants to launch trading platforms on almost all continents in 2019. According to its CEO Changpeng Zhao for the next year, 5 to 10 new crypto exchanges are being prepared for the launch - two for each continent.
WHY IS IT IMPORTANT?
- Earlier, we spoke to a representative of the exchange and found out that Binance usually picks a place where there are no good fiat-to-crypto exchanges, so the company can offer a service to allow people to have a convenient way to convert. “We hope to have a few crypto exchanges on every continent - eventually even Latin America. Hopefully, eventually in every currency. But it would take a long time as we get to know local regulations and requirements,” the Head of International Markets at Binance, Ted Lin said.
At 19:40 (GMT+1) total cryptocurrency market capitalization stands at $202,07 billion
Bitcoin (EXANTE: Bitcoin) $6421 (+1,31%)
Ethereum (ETH/USD) $210 (+1,24%)
XRP (XRP/USD) $0,37 (+15,14%)
Bitcoin Cash (EXANTE: Bitcoin.Cash) $428 (+0,99%)
EOS (EOS/USD) $5,27 (+3,35%)
Aurora (+41,56%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $12,44 (+1,3 billion per day)
Mining Profitability
BTC $2,2 for 10 TH/s
ETH $0,17 for 10 MH/s
BCH $0,19 for 1 TH/s
LTC $3,28 for 1 GH/s
DASH $0,09 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 26 September Cryptyk
- 1 October Open Packaging Network
- 1 October Tiberius
- 2 October CryptoCasher
Click here for the full list of ongoing ICOs.
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