Friday, August 23Your Daily Bitcoin & Altcoin News Portal
CEO of Korean Exchange Coinnest among Four Arrested for Fraud – Bitcoin News

CEO of Korean Exchange Coinnest among Four Arrested for Fraud – Bitcoin News

BITCOIN
Please share if you find this article interesting. CEO of Korean Exchange Coinnest among Four Arrested for Fraud - Bitcoin News News South Korean police have arrested four high-ranking representatives of two cryptocurrency exchanges, including Coinnest’s CEO. They were detained on arrest warrants issued after a fraud investigation, prosecutors said. The executives are accused of embezzling funds belonging to customers and may face additional charges. Also read: Three South Korean Crypto Exchanges Raided for Diverting Funds Suspects Transferred Billions of Won to Their Accounts Police officials and prosecutors in Seoul announced they have detained four executives of two South Korean cryptocurrency exchanges. Kim Ik-hwan, co-founder and CEO of Coinnest, and the other three sus
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Japan Streamlines Its Cybercrime Forces, Opening New Building In Tokyo

Japan Streamlines Its Cybercrime Forces, Opening New Building In Tokyo

BITCOIN
Please share if you find this article interesting. Japan Streamlines Its Cybercrime Forces, Opening New Building In Tokyo The Japanese Metropolitan Police Department has opened a new “Cyber” building and gathered 500 of its agents into a law enforcement unit dedicated to tackling cybercrime, Reuters reported April 2. The “Cyber” building will have six departments and strengthen cooperation between hitherto dispersed authorities. The move comes in the wake of January's $532 mln hack of Japanese exchange Coincheck, dubbed the biggest crypto theft in history. Beyond this single event, statistics released by Japan’s National Police Agency (NPA) revealed that over $6.2 mln (¥662.4 mln) in cryptocurrency was defrauded or stolen in 2017. With the NEM Foundation’s tracking of the missing
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BTC Below $7,000 As Crypto Markets See Modest Downward Trend

BTC Below $7,000 As Crypto Markets See Modest Downward Trend

BITCOIN
Please share if you find this article interesting. BTC Below $7,000 As Crypto Markets See Modest Downward Trend April 5: Bitcoin (BTC) has dropped slightly below $7,000 today, following on the heels of a weak second quarter start for the traditional markets. BTC is currently trading for around $6,811, down almost 4 percent over a 24 hour period to press time. This week had seen BTC’s price consistently above $7,000, so today’s lower price could be attributed to regulatory news from Japan and South Korea, as well as another reported investigation into a US fintech firm as part of the US Securities and Exchange Commission (SEC) crypto probe. Ethereum (ETH) is still below $400, currently trading for around $382 and down about half a percent over a 24 hour period to press time. Of
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Bitcoin Lightning Network Sees First Android Mobile App Hit Google Play

Bitcoin Lightning Network Sees First Android Mobile App Hit Google Play

BITCOIN
Please share if you find this article interesting. Bitcoin Lightning Network Sees First Android Mobile App Hit Google Play The first user mobile wallet built for the Bitcoin’s Lightning Network (LN) launched April 4 marking a further milestone for the technology. Eclair wallet, released by technology startup ACINQ, is available for Android users from the Google Play Store. Devices running version 5.0 or newer of the operating system can now send Lightning payments, which should notionally cost a fraction of regular Bitcoin network fees and confirm almost instantly. “The Eclair Wallet is a next generation, Lightning-ready Bitcoin wallet. It can be used as a regular Bitcoin wallet, and can also connect to the Lightning Network for cheap and instant payments,” ACINQ describes its pr
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Make or Break? Bitcoin Risks Bear Revival Below $6.5K

Make or Break? Bitcoin Risks Bear Revival Below $6.5K

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Make or Break? Bitcoin Risks Bear Revival Below $6.5K Bitcoin (BTC) fell below the $7,000 mark on Wednesday, neutralizing the immediate bullish outlook. More worryingly for the bulls, a further decline towards $6,425 (recent low) would turn the tide in favor of the bears, the technical charts indicate. The cryptocurrency witnessed a head-and-shoulders breakdown at 09:00 UTC yesterday and fell to $7,000 (target as per the measured height method). The hourly momentum studies (moving averages) were aligned for a bullish move at the time, hence BTC was expected to defend the psychological mark. However, the sell-off gathered pace early in the U.S. session, pushing BTC down to a low of $6,670, according to Bitfinex data. Interestingly...
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Korean Crypto Exchange Execs Detained On Fraud And Embezzlement Charges

Korean Crypto Exchange Execs Detained On Fraud And Embezzlement Charges

BITCOIN
Please share if you find this article interesting. Korean Crypto Exchange Execs Detained On Fraud And Embezzlement Charges CoinNest co-founder and chief executive Kim Ik-hwan has been detained in Seoul and charged with embezzlement and fraud, alongside two senior executives and the head of a second unnamed crypto exchange, a local news outlet Naver reported April 5. The executives allegedly moved customers’ digital assets into their personal accounts, worth “billions of won,” according to prosecutors. Officials are now seeking arrest warrants for the detainees. It is the first time the head of a crypto exchange in Korea has been charged. Coinnest is the country’s sixth largest exchange by trade volume, with around 500,000 registered users as of January. The Korea Blockchain Assoc
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AngelList’s Regulation-Friendly Token Sale Platform Raises $9.2 Mln In Initial Funding Round

AngelList’s Regulation-Friendly Token Sale Platform Raises $9.2 Mln In Initial Funding Round

BITCOIN
Please share if you find this article interesting. AngelList’s Regulation-Friendly Token Sale Platform Raises $9.2 Mln In Initial Funding Round CoinList, a platform for token-based financial services with an emphasis on compliance with regulation, has raised $9.2 mln during its initial fundraising round, according to a press release published today, April 5. CoinList is a subsidiary of AngelList, a website for connecting startups to investors and job-seekers. The press release notes that CoinList’s $9.2 mln figure includes previously-raised funds from VC firm Accomplice and research firm Protocol Labs, as well as crypto funds Polychain Capital, Digital Currency Group, FBG Capital, Libertus Capital, Blockchain Capital, Coinfund, and Electric Capital. According to CoinList’s websit
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Nikkei Report: Coincheck ‘Accepts’ Monex’s Offer To Invest ‘Billions’, Install New CEO

Nikkei Report: Coincheck ‘Accepts’ Monex’s Offer To Invest ‘Billions’, Install New CEO

BITCOIN
Please share if you find this article interesting. Nikkei Report: Coincheck ‘Accepts’ Monex’s Offer To Invest ‘Billions’, Install New CEO Troubled Japanese Bitcoin exchange Coincheck has allegedly “accepted” a buyout offer from online broker Monex Group, Nikkei reports April 5. Citing anonymous sources, the publication claims Monex confirmed an offer to purchase Coincheck in a deal which will include “several billions of yen” in investment. In addition, current CEO Koichiro Wada and COO Yusuke Otsuka will step down, the former replaced by Monex’s CEO Toshihiko Katsuya. “The exact form of the investment is still being finalized, with details to be announced as early as Friday,” Nikkei continues. Katsuya is “considered a sound choice to rebuild the troubled cryptocurrency exchange
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Iranian Officials Issue Contradictory Statements Regarding Telegram Ban

Iranian Officials Issue Contradictory Statements Regarding Telegram Ban

BITCOIN
Please share if you find this article interesting. Iranian Officials Issue Contradictory Statements Regarding Telegram Ban Regulation Telegram’s initial coin offering has been the catalyst of confusion among Iran’s leadership, with conflicting statements regarding a potential ban on Telegram being made by officials. A few days ago, Iranian parliamentarian, Alaeddin Boroujerdi told media that Iran’s “highest level” officials wish to ban Telegram by April 20 due to the app’s monopoly position within the country and concerns that Telegram’s cryptocurrency may “undermine the national currency” in Iran. Despite M. Boroujerdi’s comments, the Iranian president, Hassan Rouhani, has spoken against the rumored ban. Also Read: Venezuela to Use the Petro to Buy Auto Parts from Russia Ir
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Startup Aims To Reduce Air Accidents By Creating Flight Log Records On Blockchain

Startup Aims To Reduce Air Accidents By Creating Flight Log Records On Blockchain

BITCOIN
Please share if you find this article interesting. Startup Aims To Reduce Air Accidents By Creating Flight Log Records On Blockchain Having emerged with an idea of using Blockchain for aviation safety last year, Aeron, a Cyprus-based startup, has recently released a mobile app that records and verifies the pilot’s qualification. The application, which replaces the traditional pilot logbook (the manual act of logging flight hours on paper) is now available on Google Play and Apple App Stores. An application that “saves lives” According to the data provided in Aeron’s one-pager, 57 percent of aviation accidents happen due to human error. The project team consists of a group of private aviation enthusiasts who intend to use Blockchain technology to reduce the number of accidents tha