New Files Allegedly Connect $450M in Lost Bitcoin to Russian Intelligence

$450 million worth of lost cryptocurrency from the now-defunct cryptocurrency exchange WEX may have been transferred to a fund belonging to Russian intelligence agency the Federal Security Bureau (FSB), according to an investigation by the BBC’s Russian Service published on Nov. 15. The BBC’s recent investigation into the BTC-e crypto exchange case, in which co-founder Alexander Vinnik stands accused of fraud and laundering as much as $4 billion in Bitcoin (BTC) over the course of six years, has revealed new details which allegedly connect lost customer funds to the FSB.…

Criminal Case Against Failed WEX Crypto Exchange Points at Russian Law Enforcement

The formerly anonymous administrator of the cryptocurrency exchange WEX, which shut down last summer, has made some shocking claims about the fate of “hundreds of millions” of dollars of clients’ cryptocurrency in talks with Russian police. Russian citizen Alexei Bilyuchenko, who confessed to being the tech administrator of the infamous BTC-e exchange and later co-founder of WEX, had been questioned as part of a criminal investigation underway in Russia since late 2018, BBC News Russian reported Friday. The report was based on materials of the probe, obtained by the BBC and reportedly…

Coinbase and Coinbase Pro plan to support multi-collateral DAI

On November 18th, Maker will be launching the multi-collateral DAI stablecoin, upgrading their current single-collateral DAI. Multi-collateral DAI introduces changes to the existing DAI stablecoin. In single collateral DAI (the current form of DAI), only Ethereum can be used as collateral when creating DAI. With multi-collateral DAI, both Ethereum and other ERC20 tokens can be used to create DAI, with eligible collateral types voted on by Maker token holders. Coinbase and Coinbase Pro plan to support multi-collateral DAI on December 2nd at 9 AM PST. At that time, we will…

US Will Strictly Enforce Anti-Money Laundering In Crypto

The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco said that Anti-Money Laundering (AML) laws will be strictly enforced in the world of cryptocurrencies. On Nov. 15, Reuters reported that Blanco made it crystal clear that cryptocurrency companies engaged in money service businesses will have to comply with AML laws and share information about their customers. Travel rule also applies to crypto Speaking at a conference hosted by Chainalysis, a New York-based blockchain analysis company, Blanco told the audience that the so-called travel rule also applied to digital…

Chainalysis Says BitForex Trading Volumes Could Be Fake

BitForex exchange could be faking its bitcoin trading volume, according to a report released Friday by crypto auditors Chainalysis. For every one bitcoin recorded entering on-chain between January and November, BitForex claims some 40,000 bitcoins trades traded, the Chainalysis report said. That compares to most leading exchanges average with about 6 bitcoins traded to one on-chain.  “There should be a relationship with the bitcoin moving onto the exchange and how much it is traded,” Philip Gradwell, chief economist for Chainalysis and compiler of the report, said. The findings of the…

As Bitcoin Cash Hard Forks, Unknown Mining Pool Continues Old Chain

A rogue chain has developed during a planned bitcoin cash hard fork, as an unknown mining pool failed to update to the new chain’s software. The on-going chain battle, which should be resolved by bitcoin cash’s internal rules, gives an insider look into how proof-of-work (PoW) consensus mechanisms operate. The hard fork occurred on Friday at 16:49:28 UTC at block number 609,135. Two additional blocks broke into two different chains that have been mined for a total of 4 new blocks, according to BitMEX Research’s Fork Monitor. The Bitcoin Cash chain…

US Federal Judge Rules in Favor Bitcoin IRA in Case Against Kingdom Trust

A United States federal judge has ordered asset custodian Kingdom Trust to fully restore data access to all affected clients following the unilateral termination of customers’ access to their own account information on Bitcoin IRA’s website. Filed on Nov. 12, a court document reveals that South Dakota District Court Federal Judge Karen E. Schreier ruled in favor of Bitcoin IRA in the case against Kingdom Trust, where the latter allegedly breached a referral agreement by terminating customers’ access to their account data on Bitcoin IRA’s platform without providing prior notice.…

BNB Is Under Correction But May Resume Bullish Trend Soon

BNB has been maintaining a bullish move for the past few weeks, but the price is now retracing near $20.5 support level. Binance Coin remains bullish on the hourly chart, but the bears may take over if the price drops below the ascending broadening wedge. Over the past few weeks, Binance Coin has witnessed substantial growth which has led the cryptocurrency to surge above $20 following a recent price break. The performance of BNB has created a bullish sentiment, which is positioning the market for an incoming bull run. Meanwhile,…