Asia-Pacific / 11:43 pm

Crypto Exchange CEO Sentenced to 3-Year Jail Term for Faking Trading Volume

Two executives from South Korean crypto exchange Komid have been handed down jail time for faking trading volume and deceiving investors. According to a report from CoinDesk Korea, the firm’s CEO Hyunsuk Choi received a three-year sentence for his role in the crime, as well as for embezzlement. Another member of the team, Park Mo, […]

Asia-Pacific / 2:05 am

New Zealand Police Keeping ‘Open Mind’ on Cryptopia Hack

UPDATE (Jan. 16, 2019, 15:50 UTC): Ethereum network data indicates that some of the funds from the hack were sent to Binance. Changpeng Zhao, the exchange’s founder and CEO, said on Twitter that the company was “able to freeze some of the funds.” “I don’t understand why the hackers keep sending to Binance. Social media will […]

Asia-Pacific / 3:33 am

New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack

New Zealand-based cryptocurrency exchange Cryptopia has gone offline citing a major hack. The exchange announced the news on Twitter this morning, stating that it “suffered a security breach which resulted in significant losses.” No information has yet been provided on the value of the losses, the tokens and currencies affected or any measures to refund users. […]

Asia-Pacific / 3:31 pm

Japan Eyes Regulation of Unregistered Crypto Investment Schemes

Japan’s financial regulator is reportedly looking to close a legal loophole that lets unregistered investment firms solicit funds in cryptocurrencies rather than cash. According to a report from Sankei Shimbun on Tuesday, Japan’s Financial Service Agency (FSA) is planning revisions to bring such schemes under the country’s Financial Instruments and Exchange Act, although no timeline […]

Craig Wright / 12:23 am

Craig Wright Denied Attempt to Dismiss Lawsuit Over Billions in Bitcoin

A U.S. federal court has largely denied crypto entrepreneur and self-proclaimed bitcoin inventor Craig Wright’s attempt to dismiss a lawsuit alleging that he misappropriated billions of dollars’-worth of bitcoin from the estate of a former business partner. Wright is being sued by Ira Kleiman on behalf of the estate of his brother, the late Dave […]

Bitcoin Wallets / 12:09 pm

Electrum Wallet Attack May Have Stolen As Much as 245 Bitcoin

A phishing attack on the Electrum wallet network has possibly managed to steal around 245 bitcoins, worth over $880,000 at today’s prices. Warning of the attack on Thursday, the firm tweeted: “There is an ongoing phishing attack against Electrum users. Our official website is https://electrum.org Do not download Electrum from any other source.” The bad actor […]

Asia-Pacific / 11:36 am

Former Mt Gox CEO Mark Karpeles Claims Innocence as Trial Nears End

In his closing arguments in a Tokyo court, Mark Karpeles, former CEO of collapsed bitcoin exchange Mt. Gox, has restated his innocence in the events that saw the firm lose millions in customer funds and ultimately go bankrupt. He faces charges of embezzling approximately 340 million yen (over $3 million) from the exchange and fraudulently […]

Crime / 9:29 am

Suspected Electricity Thief Arrested After Mining $3 Million in Bitcoin, Ether

A man in Taiwan has been arrested over claims he mined millions of dollars-worth of cryptos using stolen power. According to a report from EBC Dongsen News on Wednesday, a man with the surname Yang is suspected of stealing electricity valued at over NT$100 million ($3.25 million) from various business premises to mine bitcoin and ether. Yang […]

Asia-Pacific / 12:59 pm

Executives at Korean Crypto Exchange UPbit Indicted for Fraud

The executives of UPbit, one of South Korea’s largest cryptocurrency exchanges, have been formally charged by the country’s prosecutors. According to a report from CoinDesk Korea on Friday, the Prosecutors’ Office of the southern district of Seoul has indicted three senior staff members, including founder Song Chi-Hyung, on charges of fraud. The executives are alleged to have […]

Crime / 9:59 am

US Government Issues Advice Over Bitcoin Bomb Threat Emails

The U.S. government has confirmed the existence of bomb threat emails that demand bitcoin from organizations and suggested steps to take. The National Cybersecurity and Communications Integration Center (NCCIC), part of the Cybersecurity and Infrastructure Agency, announced Thursday that it is aware of such an email campaign worldwide. “The emails claim that a device will […]