Authorities have arrested two men and charged them with plotting to steal half a million dollars worth of cryptocurrency via SIM-swapping. Eric Meiggs, 21, of Brockton, Massachusetts, and Declan Harrington, 20, of Rockport, Massachusetts, were charged in an 11-count indictment, facing allegations of one count of conspiracy, eight counts of wire fraud, one count of computer fraud and abuse, and one count of aggravated identity theft. Meiggs and Harrington allegedly targeted executives of cryptocurrency businesses and…"SIM swappers arrested after allegedly trying to steal over $550K in cryptocurrency"
A Swiss bank set up to handle both traditional financial products and new digital currencies has been given the go-ahead by the country’s regulators. SEBA, the Swiss-based cryptocurrency bank, is now officially operational, The Block reports. The bank reportedly shared a statement with The Block yesterday that said its Swiss clients can now open accounts with the bank. This goes for corporate businesses, asset managers, and professional private investors. Launched earlier this year, the bank…"Switzerland gets another ‘Bitcoin bank’ that holds cryptocurrency for customers"
The director fo the Federal Bureau of Investigation (FBI) has said cryptocurrencies are a “significant problem that will get bigger and bigger” for the law enforcement agency. Christopher Wray made the comments during a hearing in the US Senate Committee on Homeland Security and Governmental Affairs, as senators probed leaders from Homeland Security, the FBI, and the National Counterterrorism Center about ongoing threats to the homeland. “We are looking at it from an investigative perspective, including…"Cryptocurrency is keeping FBI on its toes as director recognizes increasing threat"
The same academic who, last year claimed that Bitcoin‘s 2017 bull run was sparked by market manipulation, is now saying that the cryptocurrency‘s astronomical surge was caused by a single individual. One single whale on cryptocurrency exchange Bitfinex was reportedly able to drive up Bitcoin‘s price when it fell below specific values, according to the University of Texas Professor John Griffin and Ohio State University’s Amin Shams, Bloomberg reports. “Our results suggest instead of thousands of…"A single cryptocurrency whale caused Bitcoin’s 2017 bull run, research claims"
Aziz ‘Com’ Mirza, a Canadian man living in Dubai, has been arrested by authorities and accused of defrauding investors through a string of get-rich-quick schemes, including real estate-backed cryptocurrency Habibi Coin — once dubbed “the Bitcoin of the Middle East.” According to Gulf News, Mirza, who describes himself as a serial entrepreneur, mentor, influencer, and philanthropist is now in custody at Al Awir jail. Mirza was taken into custody by Bur Dubai Police on October…"Instagram influencer nabbed in Dubai for running alleged cryptocurrency investment scam"
Image: Kik Last month, Kik announced that it would be shutting down the once-popular Kik Messenger app to focus on selling its Kin cryptocurrency, and fighting an SEC battle about the Kin cryptocurrency. But today, in a surprise, it was announced on the Kik blog that Kik Messenger will apparently live on, as it has been purchased by MediaLab, a holding company that owns companies like anonymous-messaging app Whisper and mixtape-sharing service DatPiff. In the…"Kik Messenger will live on after Kik sells it to focus on cryptocurrency"
One of the victim’s of the OneCoin cryptocurrency scam is receiving death threats for her actions against the con artists. According to the BBC, Jen McAdam from Glasgow is receiving messages threatening sexual violence and death from people whom she believes are OneCoin supporters. McAdam has been part of the on-going BBC podcast, The Missing Cryptoqueen, in which reporters are exploring the OneCoin scam and searching for its figurehead, Ruja Ignatova. She’s been a pivotal…"Victim of $5B OneCoin cryptocurrency scam gets death threats for speaking out"
Mastercard, Visa, eBay and Stripe join PayPal in no longer supporting Facebook’s effort to launch a currency. BBC News Source link"Payments giants abandon Facebook's Libra cryptocurrency"
Global exchanges are begging the UK‘s Financial Conduct Authority (FCA) not to ban the sale of cryptocurrency-based derivatives. The World Federation of Exchanges said today that there is a need to find a balance between innovation and keeping consumers protected, Reuters reports. But it doesn’t think banning cryptocurrency-based investment products is the right answer. “The WFE recognizes the volatility identified by the FCA in its consultation report and is supportive of ensuring that proper consumer…"International exchanges campaign against UK cryptocurrency derivatives ban"
As Facebook deals with the loss of PayPal‘s backing for its ‘cryptocurrency‘ Libra, the tech giant must now get ready to answer EU regulators’ questions about the potential risks posed by the project. The European Commission has requested that Facebook and the Libra Association – the body tasked with supervising the digital currency – answer questions relating to financial stability, money laundering, and data privacy risks. According to the Financial Times, which saw the commission’s questionnaire last…"Facebook faces EU grilling over Libra ‘cryptocurrency’ after losing PayPal backing"