Auditing Firms Claim Crypto.com Lost $15 Million in Incident as Users Report Suspicious Activity

Crypto.com, a leading cryptocurrency exchange, experienced an incident on January 17 when some of its users reported strange activity in their accounts. The exchange acknowledged the event, and conducted an investigation immediately after, declaring that all funds were safe. However, reports from security and blockchain auditing firms Certik and Peckshield indicate that some funds were removed from exchange wallets. Crypto.com Suspends Withdrawals After Suspicious Activity Reported Crypto.com, a cryptocurrency exchange, suspended normal withdrawal operations after customers reported having experienced suspicious activity regarding their accounts. In its first statements, the exchange…

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Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions

Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions

A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank Alfalah has reportedly started sending SMS alerts to its customers, asking them to avoid carrying out cryptocurrency transactions using its banking channels. Incorporated in 1992, Bank Alfalah is one of the largest private banks in…

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Fidelity Expects More Countries to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’

Fidelity Expects More Countries to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’

Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained. Fidelity’s Crypto Predictions Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report on crypto trends and their potential future impact earlier this month. Among the trends discussed in the report is the adoption of cryptocurrency by sovereign nations. “This…

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Crypto Exchange Bitfinex Stops Servicing Ontario Customers, Asks Users to Withdraw Funds

Crypto Exchange Bitfinex Stops Servicing Ontario Customers, Asks Users to Withdraw Funds

Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March. Bitfinex Stops Providing Services to Ontario Customers Crypto exchange Bitfinex announced Friday that it is making changes to the services it provides to Ontario customers. Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.” In addition, those who do not have open positions in the platform’s peer-to-peer financing markets will no…

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North Korean Hackers Stole $400 Million in Cryptocurrency Last Year — Ether Accounts for 58% of Stolen Funds

North Korean Hackers Stole $400 Million in Cryptocurrency Last Year — Ether Accounts for 58% of Stolen Funds

North Korean hackers stole cryptocurrency worth about $400 million last year in at least seven major attacks on crypto platforms. “Only 20% of the stolen funds were bitcoin … And for the first time ever, ether accounted for a majority of the funds stolen at 58%,” said blockchain data analytics firm Chainalysis. North Korean Hackers Stole $400 Million in Crypto Last Year Blockchain analytics platform Chainalysis published an analysis on North Korean hackers and their unlaundered cryptocurrency holdings Thursday. The firm described: North Korean cybercriminals had a banner year in…

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Pakistan’s Central Bank Decides to Completely Ban Cryptocurrency: Report

Pakistan’s Central Bank Decides to Completely Ban Cryptocurrency: Report

The State Bank of Pakistan (SBP), the country’s central bank, has reportedly come to a decision to ban the use of all cryptocurrencies within the country. The central bank has also asked the Sindh High Court to ban “unauthorized operations” of crypto exchanges and impose penalties on them. Pakistani Interministerial Committee Recommends Banning Cryptocurrency and All Related Activities A high-level interministerial committee constituted to make recommendations on whether any form of cryptocurrency should be permitted under Pakistani law reportedly submitted its report to the Sindh High Court Wednesday. The committee…

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India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme

India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme

Indian Enforcement Directorate has seizIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme assets worth approximately $5 million in connection with an allegIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme cryptocurrency scam involving Morris coin that has dupIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme investors out of $162 million. The crime proceIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Schemes were usIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme to buy cryptocurrencies. India Authorities Seize Assets in AllegIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme Crypto Scam Case India’s Enforcement Directorate (ED), a specializIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme financial investigation agency under the Department of Revenue, Ministry of Finance, has seizIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme assets valuIndia-Seizes-Assets-in-162M-Morris-Coin-Cryptocurrency-Investment-Scheme at 36.72 crore rupees ($5 million) in connection with a cryptocurrency scam. The ED began investigating the scheme after a first information report (FIR)…

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Report: Ronin Sidechain Processed 560% More Total Transactions Than Ethereum Last November

Report: Ronin Sidechain Processed 560% More Total Transactions Than Ethereum Last November

The blockchain-powered game Axie Infinity has been a very popular application during the last 12 months, as the game’s NFTs have outpaced every NFT collection today in terms of all-time sales. While Axie Infinity has seen $3.85 billion in all-time sales, Nansen researcher Martin Lee recently published a report on how Ronin, Axie Infinity’s sidechain, has seen exponential growth. Researcher Takes a Deep Dive Into Axie Infinity’s Ronin Network Axie Infinity, the Ethereum-based blockchain game developed by Sky Mavis has seen a significant amount of NFT sales surpassing every NFT…

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Yellow Card Announces It’s Resuming Deposits and Withdrawals via the Naira

Yellow Card Announces It’s Resuming Deposits and Withdrawals via the Naira

Yellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform. The move by the company comes almost a year after a central bank directive forced Yellow Card to suspend deposits and withdrawals. CBN’s Growing Interest in Digital Currencies Almost a year after suspending services following a central bank directive, crypto exchange platform Yellow Card now says it is resuming local deposits and withdrawals in Nigeria. The company’s resumption of services also comes a few months after the Central Bank…

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Indian Crypto Industry Seeks Tax Clarity in Union Budget 2022-23

Indian Crypto Industry Seeks Tax Clarity in Union Budget 2022-23

An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.” Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23 Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major cryptocurrency exchanges in India, including Coinswitch Kuber, Wazirx, and Coindcx. In its letter, the…

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