Two Israeli brothers have been arrested in connection with a cryptocurrency scam involving “tens of millions” of dollars. Jerusalem-based Eli and Assaf Gigi were involved in a scheme were they accessed traders’ wallets and took the coins for themselves, Finance Magnates reports. The brothers are also reportedly suspected by investigators of links to the 2016 Bitfinex exchange hack. The incident led to the loss of around $ 65 million in bitcoin in 2016. A police spokesperson refused to further discuss the link with the publication. How the Brothers Conducted the Scam According to Posta, the brothers gained access to wallets through
Over 46 cryptocurrency exchanges around the globe assisted criminals in laundering more than $ 88 million over the past two years, a Wall Street Journal report alleges. Money Laundering Pervasive in Crypto Trading Industry: Report The Journal’s investigation traced funds from over 2,500 wallets that courts flagged for their involvement in criminal activities. The paper partnered
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There is no denying technology will play an even more important role in our daily lives over the next few years. As society is slowly transitioning into the Digital Age, more and more daily tasks will heavily rely on technological advancements. So far, it looks like 2016 will be an interesting year for certain technology trends. That being said, it remains to be seen how these forms of technology will impact the daily lives of consumers all over the world.
The year 2016 will be an interesting one as many people are expecting great things to happen from a financial and technological standpoint. At the same time, the year 2016 will play a pivotal role in the future of data protection and user security. But what will be the predictions for 2016 and which ones will come true in the end?
Also read: Creating Financial Resolutions For 2016