Cryptocurrency News

A new stablecoin has been launched on the Ethereum Blockchain, however, this one is backed not by a fiat currency but by the world’s number one cryptocurrency, Bitcoin (BTC).

Around two weeks ago, an unknown hacker was successful in stealing at least $2.5 million – or 19,391 Ethereum – from the cryptocurrency exchange called Cryptopia. Following the attack, the firm was unable to provide details simply because of an on-going investigation.

The cryptocurrency exchange Cryptopia, based out of New Zealand, reported a hack attack two weeks ago. However, reports from the Blockchain based infrastructure firm Elementus state that the cryptocurrency exchange is still compromised by the hackers.

A new study courtesy of Chainalysis suggests that at least two hacking groups are responsible for the majority of digital currency exchange hacks to date. The report from the provider of blockchain analysis software further notes that these professional crime organizations managed to exploit around 60 percent of all publicly reported digital currency exchange hacks

The United Arab Emirates’ (UAE) central bank and the Saudi Arabian Monetary Authority (SAMA) have decided to join forces in order to launch a digital currency trial. The platform the two central banks are developing is named

JPMorgan Chase is known for its undying crusade against cryptocurrencies. Just recently, it once again showed how opposite its beliefs are towards digital currencies. According to the official report, the investment bank released a new note to its clients suggesting that it is skeptical about cryptos and their value.

In the latest cryptocurrency news, the Finland-based company called LocalBitcoins has claimed that it suffered from a recent hack which affected a handful of users. The peer-to-peer Bitcoin trading portal revealed the news by posting an update on Reddit recently.

In an official blog post, Binance announced the conclusion of the BitTorrent token (BTT) on its Binance Launchpad on January 28. The ICO (Initial Coin Offering) raised $7.1 million through the sale of 59.8 billion BTT tokens. All tokens were sold out in less than 15 minutes.

It cannot be denied that cryptocurrency scams nothing new and, more importantly, they tend to exist on varying scales. Some do this activity by hacking into digital currency wallets while others try to run massive scam rings. Apparently, this type of exploit had just taken place Taiwan.

Polymath is known to be a platform specifically designed for helping securities move to the blockchain. Interestingly, the developers of the platform have decided to lock up around 75 million Poly tokens at least for the next five years.