By the end of 2022, scammers shifted their focus to duping crypto investors who were desperately trying to recoup their year-long losses. An international law enforcement operation led by European government agencies joined crypto entrepreneurs and businesses to curb cross-border crypto scams in July 2022, uncovering a criminal network operating through call centres. Law enforcement...
Immunefi’s Crypto Losses 2022 report found that over USD 3.9 billion was ‘lost’ last year. While that might seem like a whopping amount of capital to lose track of, it’s down 51.2% compared to 2021, when over USD 8 billion was stolen, the report found.
India’s tax rules on cryptocurrencies, which came into effect last April, have seen local exchanges lose the lion’s share of the market to those run by foreign players, according to a new report. Binance, Coinbase and other foreign exchanges held 67.6% of the crypto market share in India as of October 2022, up from 50%...
Shaktikanta Das, the head of India’s central bank, has criticised digital tokens, marking the latest denouncement of cryptocurrencies from officials in the country. “Changes in the value of any so-called product are a function of the market. But our main concern with crypto, unlike any other asset or product, is that it has no underlying...
After Ledger’s announcement of a collaboration with iPod creator Tony Fadell to create its latest hardware wallet, rival hardware wallet startup Foundation Devices has announced that it has raised a $7-million seed round to double its “sovereign computing platform”, which it says empowers its users to “reclaim their digital sovereignty”. The company’s flagship product, the...
It may be known primarily as an online payment method, but PayPal is now setting its sights on helping its users get started with cryptocurrencies. ConsenSys, the company behind MetaMask, has announced plans to add an integration in its crypto wallet so that users can buy cryptocurrencies using their PayPal account. MetaMask intends the offering...
Chainalysis data shows that the collapse of Celsius and Three Arrows Capital (3AC) and Terra’s Luna de-peg inflicted much bigger losses on investors than the FTX crash. The TerraUSD de-peg had a realized loss of $20.5bn while Celsius and 3AC amounted to a staggering $33bn. By comparison, FTX recorded losses for investors of just £9bn....
Despite the ongoing bear market, Jan3 CEO and Bitcoin proponent Samson Mow believes the leading cryptocurrency could hit the $1 million milestone in the next five to 10 years. The catalyst, he suggests, could be the “unexpected” collapse of major fiat currencies, which, in his opinion, could “happen very rapidly”. ”It just sort of happens...
The U.S. Securities and Exchange Commission (SEC) has called on public companies to analyze and disclose information about their losses, including whether they are doing business with any firm associated with cryptocurrencies. The regulator, which oversees the U.S. publicly traded disclosures that occurred this year, said the guidance was due to “recent bankruptcies and financial...
Tether has announced the launch of CNH Tether (CNHT), a stablecoin pegged to the Chinese yuan, on the Tron blockchain. Created in 2019, CNHT was previously only available on the Ethereum blockchain as an ERC-20 token. Its market capitalisation is $2.9 million, according to CoinGecko. Tether is the issuer of USDT, the leading stablecoin and...
