 |
CASE TO ANSWER: Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market. U.S. District Judge Vince Chhabria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional market.” Full story
STATE HACKS: A Chinese espionage operator is attacking crypto firms and others in state-sponsored campaigns, according to a FireEye Threat Intelligence report published August 2. The intelligence company “assesses with high confidence” that APT41, a hacking collective, has moved on from financially motivated attacks of video game companies to working alongside the Chinese government. Reportedly, the hacker group “targets industries in a manner generally aligned with China’s Five-Year economic development plans.” Full story
THE FATF EFFECT: VC Trade, the Japan-based crypto exchange launched by SBI Holdings last year, is integrating new technology to help it comply with international customer verification standards issued by the Financial Action Task Force (FATF) in June. The solution is provided by blockchain security company CoolBitX, which has developed a wallet product based on its KYC and AML compliance-focused cryptocurrency transaction and security solution called Sygna. VC Trade is now using a customized version of the wallet, CoolXWallet, which only allows users to withdraw their crypto assets to their wallets after completing “multiple layers” of KYC. Full story
MALWARE SHIFT: In the wake of lower cryptocurrency prices, ghost mining hackers are turning to metadata seizures. Cybersecurity firm Carbon Black reports that a well-known 2018 monero crypto mining botnet contained a secondary component capable of seizing IP addresses, domain info, usernames, and passwords. Dubbed “Access Mining,” Carbon Black researchers Greg Foss and Marian Liang say the 2018 botnet campaign has been collecting secret data for the past two years, making millions in the process. Full story
MYSTERY NO LONGER? Nakamoto.com is a website that’s more than twice as old as bitcoin, and for most of its life, it has just redirected to a San Francisco developer’s personal website. Now, though, according to two industry sources, it’s under the ownership of one of the best-known investors in crypto: Balaji S. Srinivasan, former Andreessen Horowitz partner, founder of Earn.com and former chief technology officer of Coinbase. The current site says, “Nakamoto is bitcoin country. HODL or GTFO.” As of now, potential users can only enter their email address and await more information. Srinivasan didn’t respond to multiple attempts to confirm he was running the site. Full story |
|
|
|
|
 |
| BITCOIN BREAKOUT: Bitcoin is looking north, with the daily chart reporting a breakout from a bearish channel. The case for a rise to key resistance at $13,200 would further strengthen once prices break higher from the narrowing price range seen on intraday charts. The bullish case would weaken if prices nosedive from the contracting range, but the path of least resistance will remain on the higher side as long as prices are held above $11,000. Full story |
|
|
|
|
| | CZECH MATE? The Czech Republic is set to impose tough new rules for cryptocurrency firms that exceed standard EU requirements, Finance Magnates writes. The report cites local news source Hospodářské Noviny as saying that the new Czech regime would fine crypto service providers up to €500,000 (around $560,000) if they do not register with the Trade Licensing Office. |
WHO WON #CRYPTOTWITTER
 |
|
| | | | | | |
