Page 40 - Cryptocurrency

Crypto Exchange FTX to provide $6 million phishing compensation to users

Digital-asset exchange FTX will provide about $6 million compensation to its account holders impacted by a phishing incident via a third-party website

Apple Inc issues new app store guidelines for crypto and NFT payments

Apple Inc. updated its App Store guidelines Monday with new and clearer language explaining its policy toward cryptocurrency trading and non-fungible tokens

Crypto weekly wrap: Experts see Bitcoin at 19,600, Ethereum at 1,300 soon

After the release of the UK's inflation data showing inflation for September at 10.1 per cent, the crypto markets plunged

Shardeum raises $18 mn in seed round from a clutch of 60 investors

WazirX founder Nischal Shetty, also co-founder Shardeum, says crypto world needs to work with regulatory bodies

Interpol's crack team to 'follow the money' in crypto crimes, says official

Red corner notice not tantamount to international arrest warrant: Jürgen Stock

Crypto weekly wrap: Tokens recover after plunging post-US inflation data

Bitcoin rose by almost 4 per cent after dropping to its lowest at $18,300 post-US inflation data was released

FM Sitharaman calls for effective tax reporting regime on crypto assets

Finance Minister Nirmala Sitharaman on Thursday called for an effective tax reporting regime and information exchange between jurisdictions for crypto assets to combat offshore tax evasions. Participating in the G20 Finance Ministers and Central Bank Governors meeting here on the sidelines of the annual meetings of the IMF and the World Bank, Sitharaman intervened on a number of critical issues, including infrastructure, investments and international taxation. On scaling up sustainable and digital infrastructure investments, she highlighted the need to leverage private sector participation. She also spoke on mobilising finance at sub-national level for inclusive and quality infrastructure. The last session of the ongoing G20 meeting saw discussions on the progress made on the agenda of international taxation during this year. On the two-pillar solution, the finance minister called for participative engagement of all jurisdictions in negotiations and prioritising capacity building.

Crypto hackers set for record year after looting over $3 billion: Report

Hackers have become adept at exploiting weaknesses in the security, coding and structure of DeFi marketplaces

Crypto industry's winter deepens as trading volumes plunge, funds dry up

Volumes tumble over 80% in Jan-Sept; several entities receive 'drawdown notices' from investors

31 lose money after investing in crypto cloud mining app in Maharashtra

Thirty one people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they made investments through a crypto cloud mining app, police said citing complaints. Cloud mining is a mechanism to mine a cryptocurrency, such as bitcoin, using rented cloud computing power and without having to install and directly run the hardware and related software. "The investors were asked to download the CCH Cloud Miner App and the crypto trading app. They were asked to convert their Indian currency into dollars using the crypto trading app and were made to invest in the CCH Cloud Miner App," a police official said on Tuesday. So far, 31 people have approached the police with complaints of cheating, he said, adding that some of the investors received returns initially. "We have registered a case against three persons who had lured people to download the app and invest money under the pretext of offering hefty returns," police inspector Udaysinh Patil said. The trio is in

At least 30 people from Solapur lose money on crypto cloud mining app

More than 30 people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they invested through a crypto cloud mining app, police said on Tuesday citing complaints. Police said a case will be registered against three persons who had lured people to download the app and invest money under the pretext of offering hefty returns. The trio is in the jewellery business in Solapur, said a police officer. He said so far 30 people have approached the police with complaints of cheating. "Investors were asked to download the CCH Cloud Miner app and the crypto trading app. They were asked to convert their Indian currency into dollars using the crypto trading app and were made to invest in CCH Cloud Mining App," the officer said. He said some investors received returns initially. Cloud mining is a mechanism to mine a cryptocurrency, such as bitcoin, using rented cloud computing power and without having to install and directly run the hardware and related software.

Indian-origin Sikh on trial for $10.4-mn crypto bungle in Melbourne

An Indian-origin Sikh and his partner, who received $10.4 mn from a cryptocurrency company by mistake, will face trial in Australia over allegations that they spent the money

Crypto.com labels mass layoff of 2,000 employees report as 'inaccurate'

Cryptocurrency exchange Crypto.com has said that the report suggesting that it laid off over 2,000 of its employees was "incorrect", media reports say

OECD releases global framework for exchange of info on cryptocurrencies

The exchange of information on cryptocurrency between countries will become automatic under the new framework propsed by OECD

Crypto weekly wrap: Binance hack, inflation fears keep volatility high

The biggest news of the crypto world this week was that roughly $100 million of Binance Coin was stolen by hacking. It has sent the price of Binance down by 4 per cent

Crypto exchange ZebPay applies for license in Singapore, also eyeing UAE

Daily trading volume on ZebPay has dropped from a high of $122 million in October 2021 to just over $700,000, data from Nomics shows

Over 51% of daily Bitcoin volume on crypto exchanges fake: Report

More than 51 per cent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed

Copycat threat to goodwill, trademark of legacy brands increasing

Small businesses violate trademark laws with deceptively similar brand names which not only confuses consumers, but also leads to production of fake goods resulting in huge losses to corporates

Crypto losses reach $428 million in Q3 globally; hacking cases top concern

The world saw crypto losses up to $428 million in the third quarter (Q3), down 36 per cent from Q2, from hacks and frauds, a new report has shown

Kim Kardashian settles with SEC over crypto promotion, to pay $1.26 mn

Kim Kardashian has agreed to settle charges brought by the Securities and Exchange Commission and pay USD 1.26 million for promoting a cryptocurrency on social media without disclosing the payment she received for the plug. The SEC said on Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation. The SEC said Kardashian failed to disclose that she was paid USD 250,000 to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax. Kardashian's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens. The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion, Gurbir Grewal, director of the SEC's division of enforcement, said in a prepared statement. Kardashia