Yes that was Akon who set up "Akoin".
Meanwhile in Brazil.....
Brazil’s Largest Bitcoin Exchange Just Fired ‘at Least’ 20 Employees
Mercado Bitcoin, Brazil’s largest cryptocurrency exchange by trading volume, recently fired “at least” 20 employees amid restructuring efforts being made to “focus on professionalization, better governance and more agility in customer service.”
Local news outlet Portal do Bitcoin reportedly spoke to four now ex-employees that served at different hierarchical levels. One noted it “was horrible” and said that there “were people crying” over the occurrence.
The ex-employees revealed that senior executives started getting laid off earlier this week, on October 15, with other employees being fired by an executive the very next day. The company, justifying what was going on, revealed it was restructuring its marketing and human resources departments.
Those interviewed by the local news outlet claimed the affected departments were shuttered following the layoffs. One said that executives told employees that “it was a company moment, they needed to dry out their structure. In short, they went one step over what was being billed.”
Read more: https://www.ccn.com/brazils-largest-bit ... employees/
Over the past 24 hours, Bitcoin has achieved a new yearly low volume, demonstrating a lack of momentum and strength to recover to the higher region of $6,000.
On Coinmarketcap, the volume of Bitcoin fell to $3.1 billion while it fell to $1.91 billion on CoinCap. The previous yearly low point of the Bitcoin volume was $3.2 billion on Coinmarketcap and $2 billion on CoinCap.
The low volume of Bitcoin, possibly affected by a decline in trading activity on a Sunday, could have a negative impact on the short-term trend of the dominant cryptocurrency.
Read more: https://www.ccn.com/bitcoin-hits-new-ye ... big-spike/
Now you'll be able to trade on ICE Futures too:
Bitcoin Futures Will Go Live on ICE's Crypto Trading Platform in December
The Intercontinental Exchange's upcoming cryptocurrency trading platform Bakkt will officially launch on December 12, pending regulatory approval.
ICE announced Monday that Bakkt could begin offering physically settled bitcoin futures contracts in December, marking the first cryptocurrency-related offering provided through the new platform. Bakkt will hold the bitcoins backing the futures contract in the ICE Digital Asset Warehouse, according to the notice, provided the Commodity Futures Trading Commission (CFTC) signs off.
These futures contracts will be cleared through ICE Clear US, another subsidiary of the exchange, which notably owns the New York Stock Exchange.
"Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day," the announcement read.
Bakkt was first announced earlier this year, when ICE announced its intention to develop "an open and regulated, global ecosystem for digital assets."
At the time, the exchange also noted it would offer a one-day bitcoin futures contract, meaning clients can cash their futures products out to receive bitcoin, rather than cash.
The exchange was initially expected to launch in November, pending approval by the CFTC. No reason was immediately given for the delay through December.
Read more: https://www.coindesk.com/bitcoin-future ... -december/
You're not the 56 year old man in this article are you?
Woman Arrested for Stealing XRP Worth $65,000 in Australia’s Biggest Crypto Theft
A 23-year-old woman has been arrested by the Sydney police for stealing $65,000 worth cryptocurrencies from a 56-year-old man.
Brisbane Times reported that the woman hacked the victim’s email account in January 2018. She used the two-step verification feature by changing the password and verifying it with her mobile number. She then sent 100,00 XRP to her account in China from the crypto accounts connected to the email account. The XRP were converted into Bitcoins and transferred to multiple e-wallets. The victim was able to acquire his account after two days, however, the woman had drained all his funds by that time.
Arthur Katsogiannis, Cybercrime Squad commander, said, “It’s a very significant crime and it’s the first we know of its type in Australia where an individual has been arrested and charged for the technology-enabled theft of cryptocurrency.”
Katsogiannis said that even though this crime is the first of its kind, it will become a norm in the coming years. He added that such incidents will prove to be dangerous for investors interested in cryptocurrencies.
news.com.au reported that the Public Order and Riot Squad (PORS) caught the woman at her parent’s house in Epping and seized all of her electronic devices. The woman is set to appear at Burwood Local Court on November 19.
Crypto Crimes Continue to Haunt Authorities
Last month, Oklahoma police arrested two men for allegedly stealing $14 million worth CMCT tokens from blockchain-based IT company Crowd Machine. The men got hold of the victim’s SIM card and replaced it with a fake one to use the former to access the crypto wallet.
In September 2018, Japanese crypto exchange Zaif lost 6.7 billion yen ($60 million) worth cryptocurrencies stored in hot wallets. This hack bore a resemblance to crypto exchange Coincheck’s hacking incident earlier this year. The exchange lost $530 million worth NEM stored in hot wallets, while the funds stored in cold wallets remained safe. Following the hack, the Financial Services Agency (FSA) of Japan sent business improvement orders to 6 crypto exchanges including Zaif.
Japan’s National Police Agency (NPA) recently published a report which explained that 158 crypto crimes were reported in the first half of 2018 alone. The agency added that 60% of these cases occurred due to the use of similar account and password details in various online accounts. With a total of 60 billion yen (approximately $534 million) stolen this year, XRP and BTC are considered the most targeted cryptocurrencies.
Source: https://www.ccn.com/woman-arrested-for- ... pto-theft/
The Commodity Futures Trading Commission (CFTC) took action in this first ever ant-fraud bitcoin related case in September 2017. The court ruled that Gelfman Blueprint Inc. and its CEO Nicholas Gelfman solicited more that 600 000 USD from retail investors between 2014 and 2016 by claiming their funds were part of an algorithmic trading strategy.
Comedy hour. After some tabloid crypto-media reported a tiny exchange was hacked out of 919 btc, worth about $6 million, the exchange in question has come out to say it was actually just eight bitcoins.
“The negative balance was used in order to fully buyout every market the attackers felt like, they were able to sell without limitations and accumulated 15BTC of non-existent funds. Out of which they only managed to withdraw what he had in total – 8BTC,” MapleChange says.
The exchange previously showed a picture of 919 btc in trading volumes. That seems to have led to the assumption among tabloid crypto reporters that trading volumes means actual coins.
That’s when this exchange was previously handling trading volumes of only circa 2BTC a day. Meaning they were very, very, tiny.
“Irrelevant of what the media has spewed out about us, I’d like to bring to light our point of view, should you choose to believe it or not. We have NEVER had 919BTC in our wallet, the picture that displayed so showed the volume abuse caused by the hackers,” they say.
We were trying to find out their wallet to see what was going on, but came up with only tiny amounts. Now that they’ve confirmed this is all just circa $40,000, we’ll leave any further investigation to the authorities.
This chain of events is somewhat perplexing, however. They announced a bug had led to a hack, so they had to close down. Accusations of exit scams were reflexively made, with some tracking down what they believe is the exchange’s CEO.
Changpeng Zhao of Binance tweeted about it, with this “story” seemingly “broken” by Joseph Young.
It isn’t very clear who first came up with this $6 million figure. Nor is it clear whether a slight recent price fall for most cryptos – down 2%-3% after some long stability – is related to this little theft.
Source: https://www.trustnodes.com/2018/10/29/c ... -6-million
A video published Thursday by security researcher Lukas Stefanko exposed a malicious app hosted on the Google Play store that distributes malware onto unsuspecting user’s mobile devices.
Harvesting Your Passwords
The app, called Easy Rates Converter, markets itself as a currency conversion tool. In reality, it infects devices with malware designed to harvest their login credentials to legitimate crypto and fiat banking applications.
According to Hard Fork, among the apps targeted were Binance’s official app, CommBank, and Google Play. At the time Stefanko published his video, the app had over 500 downloads. The developer name on the app is listed as ‘hitech_soft.’
According to Stefanko, once the app is downloaded, it deploys malware that infects the host device through a fake Adobe Flash update. On the surface, the malicious app still functions as a currency converter. Once downloaded and activated, it retrieves the malware via the user’s internet connection and deploys it.
After infected, the malware program waits for the user to open a targeted banking app, then overlays the screen with one designed to look exactly like the login screen of the actual app and prompts the user to enter their login information. When entered, the credentials are stored on a server.
When running, the infiltrating app can be seen on an Android device when the user toggles through the apps they have open. However, even knowing the app was there, when Stefanko tried to tap back into a legitimate app on his phone, the malware overlaid itself on his screen again.
Keeping an Eye Out
A search through the Google Play store showed the app has been taken down since becoming the subject of Stefanko’s video, in which he also explains how to remove the malware once found on a device.
This isn’t the only way hackers are using Adobe Flash updates to install malware on user’s computers. Early in October, security researchers at Palo Alto Networks discovered a spike in fake Flash installers being used to infect computers with crypto mining malware. The update did installed Flash on host computers, but at the same time infected them with software that mined Monero.
Stefanko works as a researcher for security company ESET.
Source: https://cryptoslate.com/google-play-sto ... edentials/