Crypto Criminals Take in $4.3 Billion in 2019, CipherTrace Reports

Cryptocurrency criminals have taken in an estimated $4.3 billion USD in 2019, according to CipherTrace. CipherTrace, a cryptosecurity company based in Silicon Valley, has released its Q2 2019 Cryptocurrency Anti-Money Laundering (AML) Report, which is a detailed overview of major cryptocurrency thefts, scams, and fraud around the world. The firm’s Q1 report estimated that cybercriminals illicitly obtained more than $1.2 billion USD in cryptocurrency during the first three months of the year alone. To put the severity of these figure in context, last year’s total figure for crypto theft was…

IBM, Tata Become First Big Techs to Back Hedera Blockchain

IBM and Indian telecom company Tata Communications have joined the governance council of Hedera Hashgraph, a blockchain-like public network for enterprises. Now, eight of the 39 available spots for governing council members are filled, the network announced Monday. “Our goal is to create the most decentralized governing body of any of the major public platforms,” Mance Harmon, CEO of Hedera, told Coindesk. “We’re covering multiple industries … and we’re wanting global coverage.” Hedera claims its flavor of distributed ledger technology (DLT), which works differently than blockchains, can facilitate micropayments and…

Bitcoin Price Faces Struggle to Hold Above $11K After Range Breakdown

View Bitcoin’s short duration charts indicate the bears are in control and prices could drop below $11,000 in the next 24 hours. A strong bounce from the 5- and 10-week moving averages at $10,804 and $10,625, respectively, could fuel a rise back to $12,000. A high-volume weekly close (Sunday, UTC) or a back-to-back daily close above $12,000 is needed to revive the bullish outlook. Bitcoin (BTC) could drop below $11,000 in the next 24 hours, after sellers took victory in a four-day-long tug of war with the bulls. The top…

Coinbase UK Dropping Support for Cryptocurrency Zcash

The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holdings, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to…

Bitcoin (BTC) Price At Risk Of More Downsides Below $11,200

Bitcoin price is currently under pressure below the $11,600 resistance against the US Dollar. The price could slide sharply if there is a break below the $11,200 support area. There is a major bearish trend line forming with resistance near $11,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price might correct higher, but upsides are likely to be capped near $11,600 and $11,700. Bitcoin price is trading in a bearish zone below $11,800 against the US Dollar. BTC price remains at a risk of…