Market Update 8.20.18 – Hackers Responsible For $87m Crypto Theft Arrested

| Publish date: 08/20/2018

Market News

Hackers Responsible For $87m Crypto Theft Arrested

Chinese police from various cities were able to arrest three individuals responsible for stealing Bitcoins and other digital assets, all of which are worth $87 million. The three were reportedly busted in the provinces of Hunan and Changchun, as well as in the city of Beijing.

The self-claimed victim named Zhang (identified only by his last name) first filed a complaint to the authorities in the northwestern city of Xi’an sometime in March. He said that his computer was hacked and millions of crypto assets were stolen. After a months-long investigation, the police finally got hold of the alleged individuals.

Read the full report here.

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UPS Wants Blockchain To Track Global Shipping Data

Shipping colossus UPS has recently filed a new patent that will utilize blockchain as part of a distributed network in sending packages across the globe. The patent application was published on August 16 courtesy of the U.S. Patent and Trademark Office or USPTO. It basically suggests that the company’s interest in such technology is to further improve its shipment process around the world.

Called “Autonomous Services Selection System and Distributed Transportation Database,” the idea is to store numerous types of data within a distributed ledger system. This would include information regarding a package’s destination, its real-time movement, and transportation plans for shipment units. It is worth noting that UPS joined a transportation-focused blockchain consortium sometime in 2017. Add to this the fact that it hinted at the idea of accepting Bitcoin by using a proposed system of item-exchange lockers.

Read the entire story here.

Will Security Tokens Save Digital Assets From Bear Market Blues?

For Trevor Koverko, the CEO of the cryptocurrency project called Polymath, security tokens are meant to save crypto. He revealed this idea at a blockchain technology festival held in Toronto this week. The event’s hot topic was none other than the tokenized dividends. Still, this did not stop Koverko from sharing his thoughts. Interestingly, the CEO of the crypto startup TokenFunder and co-founder of the industry consortium Blockchain Canada, Alan Wunsche, believes that tokenized assets are indeed the future of capital markets.

From Fintech Canada all the way to the Blockchain Futurist Conference, there were a number of people discussing how the Canadian regulators are enabling a few heavily regulated startups just so the latter can sell tokenized securities to retail investors and institutional investors alike. Koverko iterated that tokens are somewhat decoupling from “risky” transactional assets, which are something he believes to be backed by speculative value and not “anything real” regulators can measure.

Read the full report here.

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Total Market Cap: Aug 20

The volume of trade in the crypto market sat at $11.82 billion. The market’s capitalization, on the other hand, reached $216.85 billion.

Bitcoin Price Analysis: Aug 20

In the past 24 hours, Bitcoin jumped 1.58% to trade at $6,503.45. The leading cryptocurrency’s trade volume trickled to $3.44 billion, while its market slid to $112 billion.

Ethereum Price Analysis: Aug 20

Ethereum’s price jumped 1.50% to trade at $300.28. As for the altcoin’s trading volume, it reached $1.56 billion; whereas its market capitalization hit $30.46 billion.

State of the Top 10 Cryptocurrencies: Aug 20

In the past 24 hours, all prices were up. Meanwhile, Monero dethroned IOTA at the 10th spot.

  • Bitcoin’s market price jumped 1.58% to $6,503.45, and its value in the market is $112 billion.
  • Ethereum’s market price jumped 1.50% to $300.28, and its value in the market is $30.44 billion.
  • XRP’s market price jumped 4.05% to $0.342724, and its value in the market is $13.49 billion.
  • Bitcoin Cash’s market price jumped 2.25% to $565.96, and its value in the market is $9.79 billion.
  • EOS’ market price jumped 3.37% to $5.27, and its value in the market is $4.77 billion.
  • Stellar’s market price jumped 2.47% to $0.230262, and its value in the market is $4.32 billion.
  • Litecoin’s market price jumped 0.97% to $57.66, and its value in the market is $3.34 billion.
  • Tether market price jumped 0.01% to $1.00, and its value in the market is $2.73 billion.
  • Cardano market price jumped 1.59% to $0.101269, and its value in the market is $2.63 billion.
  • Monero dethrones TRON at the 10th spot, with its market price jumping 3.48% to $99.95, and its value in the market is $1.63 billion.

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