Tether and Bitfinex Sued for $1.4 Trillion

A law office from New York filed a lawsuit against a cryptocurrency exchange Bitfinex and Tether, claiming they manipulated the crypto market, causing harm to traders while reaping benefits for themselves.According to the lawsuit, Bitfinex and some of the associated entities participated in fraudulent, competition-distorting, and market-manipulation activities, causing financial damage to the plaintiffs.Additionally,...

Bittrex Selects Chainalysis Software to Detect Suspicious Transactions

Bittrex a cryptocurrency exchange that has been in operation since 2014 and a Top-100 exchange by trade volume, has introduced a real-time monitoring solution to help it detect suspicious activity on its cryptocurrency trading platform, developed by the blockchain analysis company Chainalysis. The new software is known as Chainalysis KYT (Know Your Transaction) and it...

CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins

October 08 - CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins A leaked tax filing shows that Claudio Oliveira, the Chief Executive of the embattled Brazilian cryptocurrency company Grupo Bitcoin Banco, owns as much as 25,000 Bitcoin. This amount is currently worth more than $209 million USD.A person familiar with Brazil’s tax authority,...

Fully Insured Custody Provider Enters the Market

The new cryptocurrency custodian KNØX has entered the market today with an extensive fund insurance program arranged by the insurance provider giant Marsh & McLennan, Coindesk reports. The Canada-based KNØX provides protection for its customers, such as asset managers and hedge funds, through its storage feature which keeps the cryptographic personal keys offline. Marsh’s insurance...

Two Individuals Arrested For Multi-Million Dollar Cryptocurrency Extortion

A former Ethereum advisor Steven Nerayoff and Michael Hlady (also known as “Michael Peters”) were arrested after allegedly making a threat that they will put the cryptocurrency startup company to an end if they don’t get paid millions of dollars worth of Ethereum (ETH).  “As alleged, Nerayoff and Hlady carried out an old-fashioned shakedown, to...

OKEx Arm in South Korea Delists 5 Coins, Including Monero and Dash

The South Korean subsidiary of a major cryptocurrency exchange OKEx announced plans to delist five major altcoins due to regulatory reasons. Starting Oct. 10, the exchange will stop providing support for Monero (XMR), Dash, Zcash (ZEC), Horizen (ZEN) and Super bitcoin (SBTC). OKEx dropped the 5 cryptocurrencies because they prioritize privacy, making it harder to...

Crypto Mining Must Be Regulated, Claims US Human-Trafficking Expert

Yesterday, an expert witness told a U.S. Senate subcommittee that cryptocurrencies are clearing the way for human trafficking, saying this industry can be much better controlled than it is now. David Murray, the vice president of product development and services at Financial Integrity Network began his speech by focusing on the immense profits human traffickers...

Is The $3 Billion Ponzi Scheme To Blame For The Recent Bitcoin Slump?

Dovey Wan, the founding partner of the blockchain-based investment company Primitive Ventures, has made waves throughout the crypto industry by releasing the information which connects the China-based wallet PlusToken to the recent slump in bitcoin prices. After the world’s biggest digital coin created an 18-month high just below the $14,000 handle in June, it started...