Revolut will offer 22 new cryptocurrencies for UK customers August 3, 2022 Revolut announced today it will offer 22 new cryptocurrencies to its UK customers, expanding the trading platform’s crypto offering to over 80 tokens. The new crypto offerings include Metaverse token APE, DeFi tokens REQ, ETC, and other tokens like CLV, FORTH, AVAX. Revolut previously increased the cryptocurrencies available on its app to 60 tokens from [...]
Michael Saylor quits as MicroStrategy CEO after Bitcoin losses August 3, 2022 Crypto advocate Michael Saylor stepped down as CEO of MicroStrategy after the software company took a near $1bn (£0.8bn) loss in Bitcoin. Saylor, a prominent supporter and investor of Bitcoin, will now be Executive Chairman after MicroStrategy faced an impairment charge of over $917m (£757m) on its Bitcoin holding in the second quarter of 2022 [...]
Robinhood Crypto fined £24.7m in New York for regulatory violations August 3, 2022 Robinhood Crypto was hit with a $30m (£24.7m) for violating anti-money laundering, cybersecurity, and consumer protection requirements. New York’s financial regulator the Department of Financial Services fined the trading platform’s crypto business on Tuesday for “significant failures” in money laundering obligations and cyber security and violating “critical consumer and reporting requirements.” Additionally, Robinhood Crypto must [...]
Solana ecosystem attacked in multimillion pound hack August 3, 2022 Solana suffered a major hack which led to more than $5.2m (£4.3m) in funds stolen and around 8000 wallets hit. The crypto ecosystem was attacked on Tuesday, apparently from a flaw in certain wallet software instead of the Solana blockchain itself, blockchain analytics company Elliptic said. The exact cause is not clear yet. “Engineers from [...]
Bitcoin rose in July amid crypto crash August 3, 2022 In association with Luno Bitcoin has continued to establish itself above $20k this week, with the price hitting highs of more than $24k over the weekend. It’s since dropped back slightly, broadly staying in a zone between $22-23k as economic and geopolitical concerns continue to negatively impact traditional and crypto markets alike. On the whole, [...]
Self-proclaimed Bitcoin inventor Craig Wright awarded just £1 in damages after winning libel lawsuit August 2, 2022 A High Court judge has awarded an Australian cryptographer, Craig Wright –who claims to have invented Bitcoin – just £1 in damages, after the academic secured victory in a libel lawsuit against a YouTuber, who said he was lying about having invented the world’s most valuable cryptocurrency. The award comes after the academic – who claims [...]
FCA’s new promotion rules will leave crypto firms in ‘regulatory limbo’, UK industry body warns August 2, 2022 The Financial Conduct Authority’s crackdown on marketing of high-risk investments to consumers will leave crypto firms in “regulatory limbo”, the UK’s FinTech industry body warned. The FCA laid down stricter rules to deal with “misleading” ads that encourage investment in risky products and tighter requirements for companies doing so, but crypto was not included in [...]
£155.5m stolen from crypto firm Nomad August 2, 2022 Crypto firm Nomad had $190m (£155.5m) in crypto stolen from it in a heist today. Hackers targeted Nomad’s “bridge” which allows crypto transfers between blockchains and stole £155.5m worth of users’ cryptocurrencies, crypto analytics firm PeckShield said, according to Reuters. Nomad tweeted it was “aware of the incident involving the Nomad token bridge” and that [...]
SEC charges 11 in international £254.6m crypto fraud scheme August 2, 2022 The US Securities and Exchange Commission charged 11 people in a $300m (£254.6m) crypto fraud scheme that spanned multiple countries. The individuals were charged for being involved in creating and promoting the fraudulent crypto pyramid and Ponzi scheme which was called Forsage. The scheme netted more than £254.6m from millions of retail investors in the [...]
NFT cyber attacks on Discord have led to $22m losses since May August 1, 2022 Hackers have increasingly targeted NFT projects on social media platform Discord since May, causing $22m in losses. Research by blockchain intelligence company TRM Labs found more than 100 reports of Discord channel hacks, with phishing attacks linked to NFT mining scams via compromised channels increasing. Almost a dozen attacks to compromise accounts occurred in the [...]