If Your Bitcoin is Stolen, There’s Only a 20% Chance You’ll Get it Back

If you’re ever so unfortunate as to become the victim of a bitcoin theft, there’s very little chance that you will ever see your cryptocurrency assets again. For this reason, security experts have suggested that only a fraction of these cases ever get reported, as victims believe they are not likely to retrieve stolen cryptocurrency. Reuters reports that the unique nature of cryptocurrencies has created a double-edged sword where investors do not expect criminals to be caught after successful crypto heists, and cybercriminals are turning to crypto in larger numbers, driven…

Nicolas Maduro Urges Venezuelan Residents to Invest in Petro Coin

Nicolas Maduro, Venezuela’s president, called on workers in his country to save money in gold and his cryptocurrency ‘The Petro’ during a salary shake-up Thursday. According to the local news source Noticiero Digital, in the next few weeks workers will be receiving their bonuses in the Petro coin, instead of fiat. Nicolas Maduro and The Petro Maduro said: “In the coming weeks the payment schedule of the bonuses will be fulfilled with the new salary tables set in the petro, which is from the economic recovery program that started 58…

Tether Floods Into Kraken Exchange, Where Crypto Traders Can Get Dollars

Tether (USDT) tokens are flooding into a wallet address controlled by the Kraken exchange, one of the few places where the troubled stablecoin can be converted into U.S. dollars. The exchange’s wallet balance stands at nearly 47.8 million USDT at the time of writing, making it the eighth-most valuable wallet holding this asset, according to the Tether Rich List. Contrast that to the situation less than two weeks ago, on Oct. 7, when Kraken’s tether wallet ranked much lower – 22nd place – and held less than half its current balance:…

Ethereum Token Rallies as Brave’s Cryptocurrency Program Enters Beta

The cryptocurrency market posted a minor decline on Friday, with bitcoin and most other large-cap assets shedding about one to two percent of their previous-day valuations. Ethereum token BAT, however, managed to resist the market’s gravitational pull and post a major single-day rally. Ethereum Token BAT Hits Two-Month High BAT — short for Basic Attention Token — is the native currency of Brave, the ICO-funded web browser that seeks to use the cryptocurrency token to upend the web’s traditional advertising model. For most of the day Thursday, BAT had traded…

Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz

Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor and cryptocurrency bull Mike Novogratz says that USDT’s woes are the fault of its issuer’s lack of transparency. USDT/USD | Kraken | Source: TradingView “I think Tether didn’t do a great job in terms of creating…

Global AML Watchdog to Release Crypto Regulations By Next June

A global money-laundering watchdog has said it will begin publishing rules for international cryptocurrency regulation by next summer. According to a Reuters report Friday, the Financial Action Task Force (FATF) – the France-based intergovernmental body founded in 1989 to develop policies for tackling money laundering – said that global jurisdictions will have to bring into force licensing schemes or regulations for crypto exchanges and possibly digital wallet providers under the new rules. Companies offering financial services for initial coin offerings will also be included, the report states. The news comes after the FATF plenary…

North Korean Hacking Group Lazarus Stole $571 Million in Cryptos: Report

North Korea’s infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates. According to an article published Friday by The Next Web, the coming annual report from cybersecurity vendor Group-IB sets out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, reaping a massive $571 million from the attacks. The news backs up claims from officials in South Korea, who said in February that North Korean hackers likely stole tens of millions of dollars’ worth in cryptocurrencies in 2017. As reported…

Crypto Exchange Huobi Now Lets Users Swap Between 4 Different Stablecoins

Huobi, the Singapore-based cryptocurrency exchange, has just launched a solution that enables users to switch between different types of fiat-pegged cryptocurrencies, or stablecoins, in event of market fluctuations. Announcing the solution, called HUSD, at a press conference on Friday, the firm said Paxos’ PAX, TrustToken’s TUSD, Circle’s USDC and the Gemini exchange’s GUSD tokens are being supported initially. Previously, users that deposited, say, GUSD, were limited to taking out GUSD or converting it to a non-pegged cryptocurrency such as bitcoin. Using HUSD, though, they can deposit one of the four…

Tether Has Yanked $610 Million out of Circulation this Month

Tether Limited, issuer of the dollar-pegged cryptocurrency tether (USDT), has yanked nearly a quarter of the controversial stablecoin’s market cap out of circulation since the beginning of October. On Wednesday, cryptocurrency exchange Bitfinex sent another 50 million USDT to the Tether Treasury, marking the sixth time this month that the company — which shares a management team with Tether — pulled USDT out of circulation by depositing them into the treasury address. Tether has not issued any new tokens in October, and the last time that new tokens entered circulation was…