By CCN Markets: The stock market is close to record-setting highs, yet one Wall Street strategist says don’t believe the Fed hype. UBS Group’s head of equity strategy, Francois Trahan, has a warning for investors – the Fed doesn’t pack quite the same punch as it used to. According to Trahan cited in CNBC, the “Fed Put” on the stock market, which Haas School of Business at the University of California, Berkeley describes as “strong accommodation following poor stock returns,” is no longer a reliable gauge. “When it comes to U.S. stocks, the Fed put is dead. In the past
Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing.
According to the victims, Zhou and Xiang had claimed on the internet that they could exchange bitcoin as futures and provide interest. The victims trusted them, as some preliminary orders in small amounts were delivered on time. As the pair could offer bitcoin at prices lower than the market rate and delivery seemed stable, they soon collected several thousand orders.
Crypto security and intelligence firm CipherTrace has published its Q1 2019 Cryptocurrency Anti-Money Laundering Report, revealing that exchange platforms all over the world have lost nearly $ 400 million as a result of hacks and thefts.
Hacks Are Making Bank
According to the firm, the report is based on an analysis of 164 million Bitcoin-based transactions.
It paints a particularly bleak picture of asset security, revealing that in 2019 so far, thefts incurred as a result of crypto hacks have amounted to $ 356 million.
Cryptocurrency-focused merchant bank Galaxy Digital LP (TSXV:GLXY) reportedly lost a whopping $ 272.7 million in 2018, with the largest contributor being a $ 101.4 million realized loss on Bitcoin and Ethereum holdings. According to recent filings, the Mike Novogratz-led startup lost $ 97 million in the fourth quarter, building on losses of $ 76.7 million in the third quarter. As […]
The latest edition of “Targeting scams,” an annual report released by the Australian Competition and Consumer Commission (ACCC) revealed that the country saw a 190 percent increase in cryptocurrency scams, with a total of $ 6.1 million AUD ($ 4.3 million USD) lost to crypto criminals.
This marks a substantial rise from the $ 2.1 million AUD ($ 1.48 million) that was reportedly lost to scams in Australia back in 2017. The increase came even amid last year’s crypto winter, which saw virtually every digital asset in circulation lose a significant chunk of its value.
The post [Guest Post] The Lost Treasure of Quadriga CX: A Teachable Moment appeared first on CoinReport.
New Zealand cryptocurrency exchange Cryptopia has published a series of tweets detailing the extent of the losses it suffered during an attack by hackers in January. It said: “We have calculated that worst case 9.4 percent of our total holdings was stolen.”
‘Securing Individual Wallets’
The Christchurch-based exchange explained that it is “continuing to assess the impact incurred as a result of the hack,” but did not provide the value of the heist in dollar terms.
The financials at crypto mining giant Bitmain aren’t looking too pretty. That’s based on an updated filing with the Hong Kong Stock Exchange that shows the company lost about $ 500 million in the third quarter of 2018. According to a recent report by CoinDesk that cites the non-public filing, Bitmain earned roughly $ 500 million in the first […]
QuadrigaCX, the largest bitcoin exchange in Canada, has lost $ 190 million worth of crypto after it lost access to its cold storage wallets. An affidavit filed on January 31 with the Supreme Court of Nova Scotia revealed that $ 190 million in Bitcoin, Bitcoin Cash, Bitcoin Cash SV, Bitcoin Gold, Litecoin, and Ethereum were lost. How Did the Bitcoin Exchange Lose All of its Crypto Funds? The affidavit, first obtained by CoinDesk, was filed by Jennifer Robertson, the widow of QuadrigaCX founder and CEO Gerald Cotten. According to a death certificate included in the affidavit, Cotten passed away in India after
By CCN.com: Contrary to prior reports putting the value of cryptocurrency stolen in the Cryptopia exchange hack at around $ 2.5 million, it has emerged that the true value of assets stolen sums up to about $ 16 million. According to blockchain analysis platform Elementus, this was ascertained by analysing the Ethereum blockchain using the Elementus query
The post New Zealand Exchange Cryptopia Lost $ 16 Million in Hack, Not Initially Reported $ 2.5 Million: Research appeared first on CCN
A bitcoin investor who lost $ 1 million in the bear market still believes the original cryptocurrency is a “force for good.” However, Peter McCormack warns others to be more careful with their money. “I wish I had taken everything out before the bubble burst,” McCormack wrote at the Guardian. “I have earned money in the
The post Bitcoin Investor Who Lost $ 1 Million: Crypto Still ‘a Force for Good’ appeared first on CCN
Sky News, a British TV station and mainstream media outlet, reported that investors lost homes as the Bitcoin price crashed. But, the same argument can be applied to the stock market, real estate, and every other major market. The report claimed that investors put up their homes as collateral to receive loans and invest in
The post Reports Claim Investors Lost Homes as Bitcoin Crashed, Isn’t the Stock Market the Same? appeared first on CCN
Readers may recall the January hack that cost Coincheck over $ 500 million. The largest theft in cryptocurrency history, the hack saw the exploitation of a vulnerability in the exchange’s security system and culminated in the loss of more than 500 million. New Economy Movement tokens, each worth over $ 1. As CCN’s Josiah Wilmoth wrote at the
The post Japanese Bitcoin Exchange Coincheck that Lost $ 500M to Receive Full Licensing By End of Year appeared first on CCN
A bitcoin-replica launched with an aim to discourage miners from forming pools and gain a monopoly over its network has been compromised. Mark Nesbitt, a security expert, revealed that the blockchain of Vertcoin, a peer-to-peer PoW cryptocurrency, is under a 51% attack. The Coinbase engineer found that some anonymous cybercriminals rented a large amount of ASIC
The post Vertcoin Hit by 51% Attack, Allegedly Lost $ 100,000 in Double Spending appeared first on CCN
According to BitMEX Research, going under the assumption that much of the hash rate on both sides of the Bitcoin Cash “hash war” has been leased since the fork, says that BCH miners have collectively lost as much as $ 6.1 million in gross revenue since last week’s blockchain split — but that one side, Bitcoin
The post BitMEX: Bitcoin Cash Hash War Costing Miners Millions in Lost Revenue appeared first on CCN
A little-known cryptocurrency called AurumCoin (AU) has claimed that it was hit by 51 percent attack, and crypto exchange Cryptopia, where the cryptocurrency is listed, lost 15,752.26 AU (approx. $ 550,000 at the time of writing this article). However, the cryptocurrency has shifted the blame on Cryptopia. On AurumCoin’s website, it has claimed that it is not
The post Claim: Crypto Exchange Lost $ 500,000 Due to AurumCoin 51% Attack appeared first on CCN
Amazon (AMZN) has been hit hard in the latest stock market sell-off, dropping nearly 25% from its all-time high of $ 2,050.50. This drop was enough to strip more than $ 250 billion from the market cap of Amazon, more than the entire cryptocurrency market’s capitalization, which currently stands at roughly $ 203 billion. Amazon has now lost about a […]
A recent report by cybersecurity company found that over the past two years cryptocurrency exchanges have lost $ 882 million to hackers. The report also warns that the trend is likely to increase in the future as hackers direct more of their attention to exchanges.
$ 1.3 Million Lost Every Day
Moscow-based cybersecurity company Group-IB has released a report on the hacker attacks against cryptocurrency exchanges in the last two years, indicating that $ 882 million have been lost in damages. If we break this down to a daily average, we’ll see that over $ 1.3 million are lost to hackers every day.
Most digital exchanges are unregulated and therefore unqualified to safely process cryptocurrency transactions. They don’t employ necessary know-your-customer (KYC) tactics, and roughly $ 1 billion in digital asset funds have been stolen since the start of 2018.
These are the unsettling claims made by a new report released by blockchain and virtual currency forensics firm CipherTrace.
The most popular target currency still appears to be bitcoin, and one of the document’s key findings is that roughly 97 percent of bitcoin used in illegal transactions or that stem from criminal activity are sent to unregulated digital exchanges that enforce weak anti-money laundering (AML) tactics. An exchange is considered lacking in AML mechanisms if it does not regulate illegal drug dealing, maintain records over time, report suspicious or large transactions, or enforce KYC regulations, the report details.
Scammers conned $ 50,000 out of regular Australians using a blatantly obvious fake tax debt fraud. Multiple victims have been lured into paying off non-existent debt through Bitcoin ATMs.
A Time-Tested Scam
Scammers have managed to con upwards of $ 50,000 from Australian citizens, luring them in to pay off a non-existent debt in a classic fraud. At least four victims from eastern Melbourne have fallen for the trick, local news media reports.