Ethereum (ETH) has been the face of negative news and criticism over the past few weeks as investors have lost their mind over the weakness in price that we all witnessed recently. As the second largest coin in terms of market cap, when Ethereum (ETH) moves, the whole altcoin market moves with it. Investors holding on to their Bitcoin (BTC) since $ 20,000 think it’s pretty bad but ask an Ethereum (ETH) Investor that bought at $ 1,500 per coin how bad it can really get!
In recent news pertaining to cryptocurrency exchanges, Perth-based Bamboo has announced it will launch an app designed to easily facilitate micro-investments in cryptocurrencies, Kraken has rejected an internet rumor that claimed the company had closed a Canadian facility amid security concerns, and Roboforex has increased the leverage available on its cryptocurrency markets to 1:50.
Australian Startup to Facilitate Micro-Investments in Crypto Markets
Bamboo, a Perth-based startup, has announced its intention to facilitate micro-transactions into cryptocurrencies through its app. The company plans on launching in Australia and the United States later this year.
South Africa’s tax agency is looking into methods for identifying tax-dodging cryptocurrency traders, the acting head of the authority has revealed. The South African Revenue Service (SARS) is studying ways to spot non-compliant cryptocurrency traders in order to investigate any scenario of failure to declare profits from investments, acting Commissioner Mark Kingon said while speaking
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The slow trickle of traditional investment into the crypto market may turn into a flood if a new platform launched by blockchain services provider AxiomLevel Technologies makes its desired impact.
AxiomLevel’s investor onboarding platform serves as a finance industry solution that caters toward institutional players with investor registration, verification and management. It contains a comprehensive know your customer (KYC) module, anti-money laundering (AML) compliance modules, and accredited investor verification, as well as a global whitelisting solution for digital wallets.
The cryptocurrency industry is very volatile and strange at certain times. Price changes tend to occur when people least expect it, albeit that is part of what makes the industry so appealing to investors and speculators. In the case of the IOTA price, things are finally looking up after a few rough days. Maintaining this positive spell will be a different matter altogether.
IOTA Price Trend Shapes up Nicely
Even though there is nothing to be really excited about in the world of cryptocurrency right now, some currencies still note surprising gains at this stage. The IOTA price is a good example of how trends can emerge out of the blue when there should be no reason for any real changes. Some positivity is direly needed in the world of Bitcoin and altcoins, though.
Three years after Ripple shelved Codius, Stefan Thomas is bringing the smart contract platform back to life with his eyes set on disrupting Ethereum.
Wenn Digital, the outfit behind KODAKOne has announced that it intends to raise up to US$ 50 million in a combined public and private token offering. KODAKOne is licensed by Eastman Kodak Co (Kodak), the imaging products and photography company that announced its entry into the cryptocurrency space at the start of 2018.
Kodak Takes a Step Back to Get a Better Shot
KODAKOne is a blockchain-based system designed to protect the copyright of images or photographs registered on the platform. Kodak has a minority stake in Wenn Digital.
Nikolai Nikiforov, the Russian Communications Minister, has said the government might ban Viber the same way it did Telegram. According to the minister, failure to comply with the request by the Federal Security Service (FSB) for encryption keys could see the app banned in the country. The FSB recently secured a court ruling prohibiting Telegram from operating in Russia.
Viber May Be Banned If It Fails to Comply
According to reports in the local media, the Russian government might target Viber if it fails to provide access to private communications of its users. Minister Nikiforov said that it is incumbent on the FSB to obtain an injunction if Viber does not comply with its directives. The minister also said that the matter is entirely in the hands of the FSB.
Malware identified by Palo Alto Networks targets data held on user clipboards from cut, copy and paste actions. ComboJack is a trojan able to replace unsuspecting user’s wallet data with the wallet address of an attacker.
ComboJack embeds itself on user systems with a possible source identified by Palo Alto Networks as phishing or malspam email. ComboJack will then frequently check the system clipboard for copied cryptocurrency wallet information.
If a genuine wallet address is identified, it is then replaced with a hardcoded wallet address presumed to belong to the attacker. Users unwittingly paste the incorrect wallet address when making a cryptocurrency transaction and send funds to the attacker instead of their desired location.
The FTC has filed a lawsuit against two companies that have reportedly defrauded somewhere around 30,000 people worldwide, affirming their intent to disallow major cryptocurrency scam projects.
Cracking Down on Crypto Scams
The FTC’s primary focus is to protect consumers and enforce the legal framework that creates a competitive market, and they’re starting to take notice of the cryptocurrency space. There have been many questionable projects and quite a few outright scams. Some have promised absurd returns, but the revenue structure relies on users to recruit more users into the platform, and those users recruit more users.
In January of this year, DADI launched an ICO that required investors to undergo KYC (Know Your Customer) verification in order participate in the token sale. Investors were asked to provide personal information (full name, address, DOB, etc…) as well as upload a copy of their photo ID. According to recent reports, nearly all that personal data has been leaked and is now been used by scammers to try and steal people’s coins.
As Bitcoin and cryptocurrencies become more popular hackers and cybercriminals will devise ever more devious ways to exploit unsuspecting users and their computers. Facebook is probably home to the largest number of technology challenged people on the planet which makes it such an easy platform to disseminate malware.
According to a report in The Independent, security researchers at Trend Micro have discovered malware that infects Facebook messenger in order to surreptitiously mine cryptocurrency. The mining bot, called Digmine, harnesses CPU resources in the background to mine Monero, an anonymous coin which currently trades for around $ 350.