- Bitcoin price plunges below $6,700, crypto market dips below $300 billion;
- In the first half of 2018, criminals managed to steal and extort $1.1 billion in cryptocurrencies, with the most popular target being cryptocurrency exchanges (27%);
- Korean cryptocurrency exchange Coinrail suffers $40 million theft;
- NEON wallet hacked ($150-200k);
- India: $7 million cryptocurrency scam petitioned against central bank curbs;
- Backdoor flaw sees Australian firm lose $6.6 million in cryptocurrency;
- Bitmain is responsible for 70% of global hashrate-which they built in a back door to turn off at will, a security liability nightmare;
- Crypto exchange Bitfinex bounces back after a DDoS attack;
- Ethical Hacker finds 12 critical bugs in EOS in one week (claims $120k in bounties);
- Bithumb officially cleared by the Korean IRS for alleged illegal activities;
- China looking to unban and regulate cryptocurrencies;
- Japan is going to officially ban anonymous crypto-currencies starting from the 18 of June;
- Bitcoin core dev: BTC source code should be removed from GitHub [eventually];
- SEC appoints new crypto chief;
- South Korean supreme court rules Bitcoin is an asset;
- The Korean government imposed a $ 27.96 million tax on Bithumb;
- Bithumb officially cleared by the Korean irs for alleged illegal activities;
- Cryptocurrency exchange giant Coinbase is officially launching in Japan;
- Coinbase acquires keystone capital in effort to offer security tokens and offer more fiat pairs;
- Coinbase announces plans to list SEC-regulated crypto securities;
- Circle is trying to become a licensed bank;
- Crypto exchange Coinone’s margin trading is illegal gambling (Korean Police);
- Cryptocurrency exchange Huobi to spend $165 million on its own blockchain platform;
- Samsung SDS launches blockchain financial platform nexfinance;
- Volkswagen shows proof of concept for software over the air updates with IOTAs Tangle at Cebit;
- Norwegian air CEO launching Bitcoin exchange, may sell tickets for crypto;
- Internet giant Baidu unveils energy-efficient ‘super chain’ blockchain protocol;
- Microsoft buys GitHub and the crypto community isn’t happy about it;
- Switzerland bank is first country to offer business accounts to crypto companies;
- Zimbabwe central bank defends cryptocurrency trading ban;
- Vietnam proposes import ban on cryptocurrency mining hardware;
- Russians invested at least $7.5 billion in cryptocurrencies (a study says);
- 1 in 3 Germans see cryptocurrency as an investment opportunity;
- The Thai SEC have announced they will allow trading of Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple and Stellar only;
- Former US Alcoa aluminum plant to be reconstructed into largest mining center;
- Billionaire Mike Novogratz predicts a $20 trillion market for cryptocurrency;
- The Bitcoin Gold (BTG) team promises to announce the exact date of the hardfork, aimed at making ASIC mining of the cryptocurrency inefficient;
- Binance, NEO Lead $12 Million Investment In AngelList Crypto Spin-Off Republic;
- Ripple CEO: Expect dozens of banks to use our cryptocurrency next year;
- VeChain (As a Co-Founding Member) helps establish the Shanghai Wine and Liquor Blockchain Alliance;
- VeChainThor Public Testnet released;
- Bitcoin cash (BCH) hashpower is down 50% from its ATH. Bitcoin hashpower is up 7x from the same date;
- Elastos (ELA) partners with IOEX;
- Genesis Markets (GVT) is released;
- Alchemint (SDT) Plans to Create NEO Blockchain SDUSD Stablecoin;
- Sia (SC) v1.3.3 is now live;
- ICON (ICX) partners with massive accounting firm, Deloitte’s startup advisory group;
- ICON Partnership with Carboneum;
- Messaging giant Kik brings Kin crypto tokens to avatar-based social network IMVU;
- NEO Name Service announce airdrop of NNC tokens to NEO holders;
- Monero (XRM) Officially Listed on Huobi;
- Nano (NANO) and Nimiq (NET) now supported by Ledger;
- ZenCash (ZEN) is antifragile: beyond a 51% attack;
- Binance finally opens maltese bank account;
- Binance lists Streamr (DATA), opening doors to US data market + partnerships;
- Binance supports Tron (TRX) mainnet swap and adds TRX/USDT trading pair;
- Binance will introduce euro-to-crypto pairs this year and is in talks with Taiwan;
Market Cap: $294.553.582.850
24h Vol: $17.498.832.256
BTC Dominance: 39.3%
Here's a video I made a little while back just to gain some perspective… pic.twitter.com/5I8pA1HP8V
— $HILL GATES (@RealShillGates) June 11, 2018
The price of Bitcoin is back under $7000 after Korean exchange Coinrail confirmed a hack on Sunday. According to Stephen Innes, head of Asia Pasific trading at Oanda Corp. in Singapore, the $46 billion drop in the cryptocurrency market is a result of that hack in South Korea.
Although Coinrail is only a small exchange, fear of security on exchanges triggered the sell-off. ” This is ‘If it can happen to A, it can happen to B and it can happen to C’, then people panic because someone is selling”, Innes said to Bloomberg.
The fact that there was low market liquidity during the weekend wasn’t helpful either, Innes said. “The markets are so thinly traded, primarily by retail accounts, that these guys can get really scared out of positions. It actually doesn’t take a lot of money to move the market significantly”.
Bitcoin and other cryptocurrencies flash-crashed Saturday night, one day after the US Commodity Future Trading Commission (CFTC) sent subpoenas four cryptocurrency exchanges in an ongoing probe into bitcoin manipulation that began in late July – following the launch of bitcoin futures on the CME, according to the Wall Street Journal.
CME’s bitcoin futures derive their final value from prices at four bitcoin exchanges: Bitstamp, Coinbase, itBit and Kraken. Manipulative trading in those markets could skew the price of bitcoin futures that the government directly regulates.
In delay reaction, Bitcoin fell as much as $433 or 5.6% in Saturday night trading, with some noting that the flash crash happened shortly after a 90th ranked crypto exchange, Coinrail, had suffered a “cyber intrusion“, and was likely the more relevant catalyst for the crypto price drop.
Coinrail confirmed for being hacked. https://t.co/8Do2JMiEoy
— Korean Cryptocurrency & Blockchain News (@BlockchainROK) June 10, 2018
In the first half of 2018, criminals managed to steal and extort $1.1 billion in cryptocurrencies, with the most popular target being cryptocurrency exchanges (27%).
A mysterious “Asian whale” accumulated more than 94,000 bitcoins during the first half of 2018, and now they have begun to move them back to one of the cryptocurrency exchanges from which they originated, sparking fears of a new selloff.
I get asked a lot —How did you become a trader with no background in finance? Where did you learn how to trade?
I didn’t. I learnt math. And statistics. And programming.