500 Estonian Crypto Companies Lose Permits After $220B Scandal

Estonia, one of the European Union’s most crypto-friendly countries, is cracking down on hundreds of licensed crypto companies in response to a $220 billion money laundering scandal, according to Bloomberg.  Estonia was among the first EU countries to license crypto companies but has been forced to clamp down after hundreds of billions of dollars of dirty money was detected in the Estonian unit of Denmark’s largest lender Danske Bank A/S. It’s put the country at the center of Europe’s biggest money laundering scandal. License to ill Madis Reimand, Head of…

The DeFi Debate Is On for Blockdown Next Week

In the clash of ideas between centralized and decentralized finance, is one better than the other, or do they both need each other? The latest months of global quarantine have been nothing less than a renaissance for online events across spheres. This has been especially true for the technologically adept blockchain community. While crypto crews have been sailing from one event to another, the next big virtual conference on everyone’s calendar is Blockdown 2020. And the Blockdown team is preparing a showdown of ideas between two crypto heavyweights for part…

3 On-Chain Metrics Crypto Investors Use to Track Bitcoin Network Activity

The public nature of blockchains continuously generates an endless stream of data, as every single transaction and address leaves a clear trace. This information, known as on-chain data, provides a way to precisely analyze cryptocurrency network activity.  Some on-chain indicators such as the number of active addresses, HODL wave, and hashrate have become well known in the industry, but the general public is really only scratching its surface. As the number of on-chain metrics available has grown to an overwhelming amount, figuring out which are the most useful to the…

Michigan State University Hit by Ransomware, Refuses to Pay Criminals

In early June, media outlets reported that the NetWalker ransomware gang had attacked Michigan State University, or MSU. At the time, the gang threatened to leak students’ records and financial documents. The university’s officials now have said that they will not pay the ransom. According to Detroit Free Press, the unspecified bounty requested in crypto by the ransomware group will not be paid by MSU. Officials did not publish an official statement addressing the reasons behind the decision. The attack seems to have happened on the U.S. Memorial Day holiday.…

Data Appear to Contradict Bitfinex’s Dwindling Bitcoin Deposits Narrative

Data appears to contradict Bitfinex’s claim that the reason for its users withdrawing 135,000 Bitcoin (BTC) from the exchange was an arbitrage opportunity that ensued following Black Thursday. 135,000 BTC later On Thursday, March 12, Bitfinex was holding 200,000 BTC. By May 25, this number dwindled to just 65,000 BTC. This is a 67% decrease over the span of two and a half months. Bitfinex Bitcoin Balance. Source: Glassnode Data contradicts Bitfinex’s explanation In a Cointelegraph interview, Bitfinex CTO Paolo Ardoino stated the driving factor behind this trend was the…

SEC Launches Virtual Meetups for Fintech Industry Players

FinHub, a fintech arm of the U.S. Securities and Exchange Commission (SEC) will now host digital meetings for industry players amid COVID-19 lockdowns. “To facilitate ongoing communications, FinHub will host a series of thematically-based virtual P2P meet-ups over the next few months,” the commission said in a June 11 statement, adding: “During each series, FinHub staff will meet virtually with innovators, entrepreneurs, or firms that wish to discuss issues related to that series’ theme.”  FinHub began as a way of guiding innovation FinHub started up in late 2018 as a…

New Ransomware Uses Sophisticated Evasion Techniques

Cybersecurity firm, Recorded Future, revealed on June 10 that a ransomware attack named “Thanos” has been promoted on a number of darknet hacking forums since February. According to the report, Recorded Future’s Insikt Group uncovered the new ransomware-as-a-service attack. “Ransomware-as-a-service” methods consist of allowing external hackers to use the ransomware to attack their targets in exchange for adhering to a revenue-share scheme with the developers by splitting profits of 60% – 70% approximately. The major feature of Thanos ransomware Speaking with Cointelegraph, Lindsay Kaye, director of operational outcomes of Insikt…

Ransomware Attack Targets Victoria Beckham’s Personal Data

Ransomware gang, Maze, strikes again. This time, the victim is a US-based independent advisory firm specializing in the consumer and retail sectors. They have a number of big clients including businesswoman and former Spice Girl, Victoria Beckham. Maze’s official dark web blog lists Threadstone Advisors, LLC as one of their victims following an attack within the last 24 hours. Threadstone Advisors, LLC worked with Victoria Beckham to establish an investment liaison with NEO investment partners. Among the advisory firm’s clients are Charles S. Cohen, Pittsburgh Brewing Co., and Xcel Brands. …

Bitcoin Price Drops to 2-Week Low After Sell-Off Triggers $800 Correction

Bitcoin (BTC) fell to a two-week low today as ranging price action below $10,000 gave way to fresh bearish behavior. Cryptocurrency market daily overview. Source: Coin360 BTC price drops 8% to test $9,000 Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD giving way during Thursday trading to fall through $9,500 support. After fluctuating around the $9,500 mark, Bitcoin fell $800 in a matter of hours to reach lows not seen since May 28. Bitcoin 1-day chart. Source: CoinMarketCap The move follows warnings about the bearish state of the market from…

Join Crypto Markets Live Now to Learn How Experts Trade Crypto With CryptoBirb & Big Chonis

Welcome, all traders, to this week’s Crypto Markets Live show featuring traders CryptoBirb and Big Chonis. Whether you’re just getting started or have been trading for years, you’re bound to learn something new today. We’ll be analyzing Bitcoin (BTC) and other top cryptocurrency markets while exploring the step-by-step processes that inform every decision to trade. CryptoBirb has been trading MTF momentum swings actively since early 2017 with a positional background. He is an occasional scalper who uses a custom momentum indicator combo called the Birbicator. He is also interested in spot, futures,…