Fraudulent ICO Shut Down by SEC

Wow. It is a solemn day for cryptocurrencies everywhere! According to CoinMarketCap, the market is experiencing a big crash with most coins seeing double-digit losses. I wish I could be bringing a lighter tone to this grey picture, but another fraudulent ICO has been shut down by the SEC earlier today. Is such market volatility going to spell the end for cryptocurrency? Between vast and sudden sell-offs and another fraudulent ICO, you begin to understand why so many bears populate this sector. What’s going on? Another Fraudulent ICO Earlier today, the US…

Crypto Regulations for UK Could Take Two Years, Says Legal Expert

Jeff Kaufmann, Legal Director at British law firm Reynolds Porter Chamberlain (RPC), said that the introduction of cryptocurrency market regulations in the U.K. could take two years, according to an RPC press release published Oct. 11. RPC is a London-based corporate and insurance law firm with offices in Bristol, Singapore, and Hong Kong, and staff amounting to 720 people, including over 80 partners and 330 other lawyers. Since 2014 the firm has been named Law Firm of the Year three times. Kaufmann said that the implementation of crypto market regulations…

Bitcoin Needs Blessing From SEC to Rally, Market Desperate

Naeem Aslam, chief market analyst at Think Markets UK, has stated that Bitcoin needs a blessing from the US Securities and Exchange Commission (SEC) to revitalize and experience a recovery in price. According to Aslam, the approval of the first Bitcoin exchange-traded fund (ETF), which would allow accredited investors and individual traders in US markets to invest in cryptocurrencies, could be a major factor to revitalize the cryptocurrency market. “Bitcoin needs some sort of a blessing and only that can revitalize the rally for the currency. I think that the…

Experts Warn of Cryptojacking Malware That Mimics Adobe Flash Updates

Researchers have identified cryptojacking malware that conceals itself behind a fake Adobe Flash update. The finding has been revealed in a cyber threat report published by Unit 42 research group on Oct. 11. Cryptojacking is the practice of using a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge. According to new research released by Unit 42, Palo Alto Networks’ threat intelligence team, the malware strain surreptitiously compels computers to mine Monero (XMR) by installing an “XMRig cryptocurrency miner.” The new malware is said to be…

Bitcoin Price Intraday Analysis: BTC/USD Bottom in Sight

The Bitcoin-to-USD exchange rate is trading lower on Thursday, on track to restest its bottom area below 6000-fiat. The pair is trading down 5.05 percent to 6195-fiat, after recovering from its intraday low near 6045-fiat, after spending two weeks in a sideways consolidation range, awaiting breakout. Bitcoin’s inability to breach through a medium-term descending trendline, coupled with International Monetary Fund’s negative stance on digital currencies, could have attributed to the losses. So far, Bitcoin price action is still in sync with its medium-term descending triangle, which is getting the status of…

Coinbase Adds Its First Ethereum Token to Professional Trading Platform

Crypto exchange Coinbase just added the 0x protocol token to its professional trading platform, Coinbase Pro. Announced Thursday, the exchange said in a blog post that it had begun accepting deposits for ZRX, and would enable trading around 5:00 A.M. UTC, or after at least 12 hours after the initial announcement. The move represents the first time the platform has added support for an ERC-20 token that runs on the ethereum network. “Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading…

Cryptocurrency Sell-Off | Bitcoin (BTC) Plummets and Market Follows Suit

The cryptocurrency market took a huge hit nearly 12 hours ago when Bitcoin (BTC) abruptly dropped over $200 in value within minutes. After BTC dropped, a widespread cryptocurrency sell-off took place and hasn’t slowed down since. Cryptocurrency Sell-Off According to CoinMarketCap, Bitcoin (BTC) is currently trading at $6,264.43 a coin, down -4.63%. Most of the cryptocurrency market has followed Bitcoin’s spiral, and most coins in the top 15 cryptocurrencies by their total market cap are seeing double-digit percentage losses. Ethereum (ETH) is currently trading at $201.10 a coin, down -11.07%…

Traders Expected Bitcoin to Rise as Stock Market Fell, What Went Wrong?

The sudden plunge in the price of Bitcoin has demonstrated that while it lacks correlation with the broader financial market, it is not inversely correlated with the global market. Bitcoin and major cryptocurrencies are considered as a robust store of value for investors to hedge against the broader financial market because of its lack of correlation with equities, stocks, currencies, and bonds. Lack of Correlation is not Inverse Correlation In an interview, Matt Hougan, the vice president of research and development at Bitwise Asset Management, stated that the fundamental drivers…

Nearly $1 Billion Stolen In Crypto Hacks So Far This Year: Research

The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests. In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace. The document, titled “Cryptocurrency Anti-Money Laundering 2018 Q3,” indicates the losses are 3.5 times higher than the levels seen in 2017, which came to $266 million. CipherTrace estimates the total figure will reach over $1 billion by the end of 2018.…

Crypto Market Loses Nearly $16 Billion amid DJI and Nasdaq Slump

All top ten cryptocurrencies and stocks from Dow Jones, S&P 500 and Nasdaq, are in the red on Thursday. A Deadly Crypto Dive The price of significant cryptocurrencies dived with nearly $16 billion of value being swept out in a matter of three hours. Source: CoinGecko At the time of this writing, Bitcoin had dropped 4 percent to $6,294, while Ethereum and EOS dived over 10 and 8 percent, respectively, according to the data on CoinGecko. XRP and Tron, which had an overall bullish September, too fell drastically – by…