Report From Former CFTC Chairman Calls for Advanced Crypto Regulations

A recent report published for the Brookings Institution is calling for enhanced regulations on cryptocurrencies. The report was authored by Harvard University fellow Timothy Massad, who served as chairman of the United States Commodity Futures Trading Commission (CFTC) during the administration of Pres. Barack Obama. The report dubbed “It’s time to strengthen the regulation of crypto-assets” addresses the purported need for better regulation on digital currencies, the illicit use of cryptocurrencies, as well as measures for reducing the risk of cyber attacks. The report also provides direct recommendations of how…

Crypto Finance Startup Circle Seeking Further $250 Million in Funding: Report

Crypto finance startup Circle Internet Financial is reportedly looking to raise a further $250 million in funding. A report from The Information on Saturday, citing a source with knowledge of the matter, said that Circle is seeking to raise the funding via a combination of equity and debt financing. They added that the reason for the move is that the firm’s business has been affected by the prolonged cryptocurrency bear market. Circle has not confirmed the source’s claim, The Information said. The Goldman Sachs-backed firm has previously raised at least $246 million, according…

Report Claims That “Sextortionists” Absconded With Over $300,000 in…

Most cyberattacks in the crypto space involve hackers finding a way around the security of crypto exchange platforms and gaining access to users’ funds. Last year saw the entry of a new breed of cyber extortionists that seems to be gaining ground, so much so that they were able to steal over $300,000 in bitcoin (BTC) tokens in 2018. According to a report by research and risk assessment firm Digital Shadows, this scam was committed through a wide array of “sextortion” blackmail strategies, which included the weaponization of emails. The…

National University of Singapore and Chinese Tech Firm to Research Blockchain: Report

The National University of Singapore (NUS) will work with a Chinese tech company to research and develop blockchain solutions, the Communist Party of China’s official news outlet, People’s Daily Online, reported on Feb. 26. As part of a blockchain and big data seminar held in the city of Chongqing in Sichuan Province, NUS will collaborate with local business Chongqing Jinwowo Technologies (CJT) on innovations that also include big data and artificial intelligence (AI). “This strategic cooperation will work within big data, artificial intelligence, blockchain technology, etc,” People’s Daily quotes professor…

Sony and Fujitsu Develop Blockchain Platform to Fight Fake Educational Qualifications: Report

Japanese multinational conglomerate Sony and IT equipment services firm Fujitsu have created an encrypted database for educational proficiency documents, The Asahi Shimbun reports on Feb. 26. The database, which reportedly employs blockchain technology, is used to prevent forgeries of language proficiency documents, which some foreigners purportedly use to receive resident status to study in Japan. Foreigners must submit a Japanese language proficiency certificate to the Immigration Bureau in order to receive resident status to study in Japan. Said certificates can be issued by Japanese educational institutions abroad. Japanese language schools…

Grayscale’s 2018 Q4 Crypto Report Indicates Institutional Investors Brought in 66% of New Capital

Grayscale Investments, a digital currency group that specializes in cryptocurrency investing, has just released its 2018 Q4 investment report. In it, the firm informs that it managed to attract a total of $30.1 Million in capital for the fourth quarter of 2018. The average weekly investment was around $2.3 Million. Of this weekly amount, $2 Million went to its Bitcoin trust and $0.3 Million went towards other investment products centered on digital assets such as Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), XRP and ZCash (ZEC). A better…

Report: Crypto Exchanges Saw Trading Volumes Plummet in January

The crypto winter that started toward the end of last year doesn’t appear to be showing signs of slowing down. Digital assets like bitcoin lost more than 80 percent of their value while the overall crypto market cap shrunk from over $600 billion in January 2018 to less than $138 billion in December 2018. Now, blockchain and cryptocurrency research firm Diar has released a report that reveals a sizeable drop in crypto trade volumes in January 2019 for popular crypto exchanges Binance, Gemini, OKEx and Coinbase. Popular Exchanges Affected The…

First Quadriga Monitor Report: $460k in BTC “Inadvertently” Sent to Cold Wallet

According to the latest court documents in the ongoing QuadrigaCX case, the exchange sent roughly $470,000 CAD (approximately $355, 000 USD) worth of bitcoin from a hot wallet to a cold-storage wallet on February 6, 2019. Ernst & Young’s first report as monitor of scrutinized Canadian bitcoin exchange QuadrigaCX (QCX) complicates the story the exchange has given for its lack of access to company funds following the death of its founder and CEO, Gerald Cotten. The court document states, “On February 6, 2019, Quadriga inadvertently transferred 103 bitcoins valued at…

NZ Police Report Says ‘Excellent Progress’ Being Made in Cryptopia Hack Investigation

Police in New Zealand are working with international law enforcement to track down hackers who reportedly stole over $16.1 million from local exchange Cryptopia, the police reported in a press release Feb. 7. Cryptopia, which suffered an attack beginning Jan. 15 and lasting around two weeks, has lost funds from tens of thousands of Ethereum (ETH) wallets. After confirming they were investigating the case Jan. 16, police revealed today that they are coordinating an international effort to track both the funds and perpetrators, in a report attributed to Detective Inspector…

Chainalysis Report: Two Groups Responsible for Most Publicly Reported Hacks

Two “prominent professional hacking groups” are responsible for the majority of publicly reported hacks of cryptocurrency exchanges and other cryptocurrency organizations, concludes a report published by blockchain data analytics firm Chainalysis this week. According to the report, simply called the Crypto Crime Report, the groups generated around $1 billion of hacking revenues for themselves so far. “Hacking dwarfs all other forms of crypto crime, and it is dominated by two prominent, professional hacking groups,” the report states. “Together, these two groups are responsible for stealing around $1 billion to date,…