Popular cross-platform messaging app Line has confirmed that it’s going to launch a cryptocurrency exchange called BitBox in July. The move isn’t surprising as Line had said back in January this year that it was thinking about entering the crypto game with an exchange. Line has clarified today, though, that its exchange won’t be open to customers based in the United States and Japan likely due to regulatory uncertainty.
Cryptocurrency exchanges continue to face security issues as yet another hack on an exchange has resulted in millions of dollars worth of cryptocurrency being stolen. Merely weeks after South Korean exchange Coinrail lost $40 million in a hack, another South Korean exchange Bithumb has been hacked as well, losing $30 million worth of cryptocurrency in the process.
It’s not uncommon for cryptocurrency exchanges to get hacked and the losses often run into tens of millions of dollars. Whenever something like this happens, the bitcoin price tends to take a hit as a result and that’s precisely what has happened after Coinrail, an exchange based in South Korea confirmed that it was hacked and that hackers made off with $40 million worth of tokens and altcoins.
Asus is tapping into the cryptocurrency mining trend with a new motherboard it has announced today that can support up to 20 GPUs, thus enabling users to effectively power an entire mining farm with one single board. It’s aptly called the H370 Mining Master motherboard and as you can probably tell, it has been developed with the express purpose of mining cryptocurrency in mind.
Bitcoin and other cryptocurrencies have been on a wild ride over the past few months with significant price volatility that may have made some people a lot of money but it would have certainly cost a lot of people money as well. The U.S. Justice Department and the Commodity Futures Trading Commission feel that something’s not quite right which is why they have started investigating possible price manipulation in the […]
Organizations like Unicef do a lot of good work across the globe but they always need funds to keep doing what they’re doing. These organizations are always looking out for new fundraising opportunities and now Unicef Australia has embraced cryptocurrency mining as it seeks to raise more funds to support its activities.
Facebook and Google recently announced that they would no longer allow ads for cryptocurrencies on their platforms. It was reported about a week ago that Twitter was mulling a similar move on its platform to protect its users against scammers taking advantage of the hype surrounding digital currencies. Twitter has now revealed that it’s also going to ban cryptocurrency advertising.
As Twitter prepares to come down on cryptocurrency scams on its platform, the company’s co-founder and CEO Jack Dorsey remains optimistic about the future of one major cryptocurrency. Dorsey predicted in a recent interview that bitcoin is going to become the world’s “single currency” in a decade from now. He believes that the world and the internet will eventually have a single currency and that currency will be bitcoin.
Venezuela launched what it claimed to be the world’s first sovereign oil-backed cryptocurrency last month called the Petro. Venezuela’s President Nicolas Maduro said that each Petro token is going to be backed by a barrel of Venezuelan crude, which the country has lots of, it actually has the world’s largest proven oil reserves. Many saw it as a ploy by the country to circumvent its economic challenges and sanctions imposed […]
About a month ago Facebook decided that it would no longer allow ads for cryptocurrencies and other dubious financial products such as binary options on its platform. The world’s largest social network wanted to ensure that its users were kept safe from rampant cryptocurrency scams and get rich quick schemes involving web-based financial products that were too good to be true. Google took a similar step not too long ago […]
Cryptocurrency scammers are taking full advantage of popular online platforms to trick people into parting with their hard earned money. Both Facebook and Twitter have now taken steps to clamp down on cryptocurrency scams prevailing on their social networks. Google has announced today that it’s not going to allow advertisements promotion initial coin offerings or cryptocurrencies starting this June.
Coincheck, one of the biggest cryptocurrency exchanges in Japan, was hacked in January earlier this year. The hack resulted in coins worth $530 million being stolen and while Coincheck was quick to say that it would repay the affected customers, it didn’t detail the manner and time it would take to do that. Coincheck has now said that it will start repaying affected customers from today.
As cryptocurrencies have become increasingly popular so have the scams associated with digital currencies. Even tech luminaries like Steve Wozniak have fallen prey to such scams and social media companies are having to come to terms with this reality. Facebook is already doing its part to ensure that such scams don’t find root on its platform and now Twitter is taking similar steps to weed out cryptocurrency scams from its […]
Cryptocurrencies are all the rage these days and the concept is now being used to raise significant sums of money from investors willing to put their money into digital assets. If you’ve ever wanted to invest in Venezuelan crude oil but haven’t been able to do so, then the country’s Petro cryptocurrency will let you do just that. Venezuela has now launched what it claims to be the world’s first […]