Market Update 6.13.18 – Japanese Police Probing Crypto-jacking Case

| Publish date: 06/13/2018
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Japanese Police Probing Crypto-jacking Case

The Japanese Police is now probing a crypto-jacking case involving the mining software, Coinhive, which is used to mine Monero. According to sources, the suspects set up websites which installed the mining software on visitor’s computers without their knowledge or consent. This is in direct violation of the law that bans the use of computer viruses.

So far, three individuals are being investigated in relation to this case. One of them is a web designer who has been asked by the Yokohama Summary Court to pay a fine of ¥100,000 ($904) for placing illegal viruses.

Find out more about this story here.

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Quantstamp Community Up in Arms

Quantstamp, the creator of a protocol that aims at decentralizing smart contracts auditing, has angered its investors by taking steps that its community believes is devaluing its cryptocurrency, QSP.

The company had used its token, QSP, to raise just over $30 million through its IPO in 2017. However, now the company is accepting US dollars and ether as payment for the audits of smart contracts that the company has completed. According to Quantstamp’s website, the firm has completed 484 smart contracts audits, however, the community is now beginning to question to what extent was the platform’s native token and technology was used to complete those audits.

Read the rest of the story here.

Blockchain ID Verification Platform Being Launched

A consortium of commercial banks in South Korea are banding together to launch a Blockchain powered customer identity verification platform in July this year. According to local news reports, the consortium, called the Korea Federation of Banks (KFB), will launch the “BankSign” system next month.

This system will be used for customer ID verification both for online computer banking and mobile banking. This new system is expected to replace the current 2 decade old public verification system which is notoriously inefficient and difficult to use.

According to one of the managers at KFB, this new system will not only offer public certifications but also a range of options for client ID verification.

Find out more here.

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Total Market Cap: June 13

Trading volume continues to slide, with it going down to $14.80 billion in the last 24 hours. The crypto market’s value also dropped by another $17.93 billion to $282.77 billion.

Bitcoin Price Analysis: June 13

Bitcoin fell 3.96% to $6601.47 in the last 24 hours. Trading volume continues to drop and is not at $4.58 billion. Market value for BTC has also fallen further to $112.77 billion.

Ethereum Price Analysis: June 13

Ethereum fell another 6.99% to $496.39 in the last 24 hours. The virtual asset’s trading volume was up slightly to $1.93 billion but its market cap fell to $49.63 billion.

State of the Top 10 Cryptocurrencies: June 13

The top ten cryptocurrencies in terms of market value saw further losses as the entire market was down. EOS fell the most, dropping by 9.15%, followed by TRON, which lost 8.90% and IOTA, which fell 7.91%.

  • Bitcoin fell 3.96% to a token price of $6601.47. The asset’s market cap is $112.77 billion.
  • Ethereum fell 6.99% to a token price of $496.39. The asset’s market cap is $49.63 billion.
  • Ripple fell 6.08% to a token price of $0.558091. The asset’s market cap is $21.90 billion.
  • Bitcoin Cash fell 7.88% to a token price of $872.89. The asset’s market cap is $14.99 billion.
  • EOS fell 9.15% to a token price of $10.22. The asset’s market cap is $9.16 billion.
  • Litecoin fell 6.79% to a token price of $99.97. The asset’s market cap is $5.69 billion.
  • Stellar fell 7.76% to a token price of $0.231843. The asset’s market cap is $4.31 billion.
  • Cardano fell 7.59% to a token price of $0.164953. The asset’s market cap is $4.27 billion.
  • IOTA fell 7.91% to a token price of $1.28. The asset’s market cap is $3.55 billion.
  • TRON fell 8.90% to a token price of $0.043417. The asset’s market cap is $2.85 billion.
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