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Largest ever cryptocurrency hack reported $500 million go missing

Uncategorized January 29, 2018

iDeal-Classifieds-Cryptocurrency-Hack Japanese cryptocurrency exchange Coincheck confirmed that $524 million worth of digital coins (cryptocurrency) had been reported stolen— making this the largest single hack on an exchange, even outweighing the Mt. Gox breach of 2014. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was pegged at $450 million in 2014 from a Tokyo-based exchange. That’s according to Japanese newspaper Asahi Shimbun, which reports that Coincheck said that some 500 million units of a cryptocurrency known as NEM, worth about 58 billion yen, had been taken from customers’ wallets. Continue reading …
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Bitcoin Drops as China bans cryptocurrency offerings

Uncategorized September 5, 2017



After a a series of investigations, on Monday The People’s Bank of China banned initial coin offerings — raising funds by launching new digital tokens. There was no mention of cryptocurrencies such as Bitcoin or its rival Ethereum, but the announcement sent stocks sliding anyway.

The burgeoning market for cryptocurrencies, which has grown very rapidly that one bitcoin was worth more than an ounce of gold in March, has seen digital currency entrepreneurs flocking to ICOs to create and sell digital tokens to investors, who include many celebs.

Still, regulators are not taking to ICOs well. The practice, which Bloomberg said netted $1.6 billion in the last year, has prompted security concerns from the US Securities and Exchange Commission. The Commission released advisories in July and August saying some ICOs should be regulated like other securities, warning of risks that come with investing in ICOs, including scams.

ICOs are a form of “unauthorised and illegal public financing,” the People’s Bank of China said in a statement, adding that ICOs have “seriously disrupted economic and financial order” in China.

The People’s Bank said the country has banned all sales and currency conversions involving digital tokens, and prohibited all financial institutions and non-bank payment organisations from offering any services to ICOs.
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  • Largest ever cryptocurrency hack reported $500 million go missing

    by on January 29, 2018 - 0 Comments

    Japanese cryptocurrency exchange Coincheck confirmed that $524 million worth of digital coins (cryptocurrency) had been reported stolen— making this the largest single hack on an exchange, even outweighing the Mt. Gox breach of 2014. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was […]

  • Talk to SAM!! New Zealand gets world's first AI politician

    by on November 27, 2017 - 0 Comments

    Nick Gerritsen, a New Zealand based entrepreneur has developed the world’s first artificial intelligence politician ‘SAM’, expecting the bot to run in the country’s general elections in 2020. SAM can answer a person’s queries regarding local issues such as policies around housing, education and immigration. While the system is not perfect, it may still help bridge […]

  • Google parent Alphabet launches cybersecurity business

    by on January 26, 2018 - 0 Comments

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  • "Cheer Friend" will motivate runners with personalized voice messages

    by on December 4, 2017 - 0 Comments

    Finland-based marathon runners have developed an app named “Cheer Friend” which allows users to motivate runners by sending personal voice messages. at TechCrunch Disrupt Berlin another neat hack idea was introduced in the form of runner’s motivational app called “Cheer Friend”. This app doesn’t need supporters to download an app in order to work — […]

  • Fitness tracking app Strava discloses location of secret US army bases

    by on January 31, 2018 - 0 Comments

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