Victim of $24 Million SIM Swap Case Writes Open Letter to FCC Chairman

SIM swapping victim Michael Terpin wrote an open letter to the United States Federal Communication Commission (FCC) Chairman Ajit Pai. In his letter, posted by Coindesk on Oct. 21, Terpin requested that the regulator take decisive action against SIM swapping and end this type of fraud. Terpin proposes to force all U.S. mobile carriers to hide customer pins and passwords from employees and oblige them to inform its customers that they can opt-in to carrier high-security plans, which must include a “no port” option, meaning that a consumer would have…

Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million

Crypto investor Michael Terpin has written an open letter to Federal Communication Commission (FCC) chairman Ajit Pai requesting urgent action on SIM swapping fraud. Terpin, a victim of SIM swapping himself, asked the regulator to make mobile carriers hide customer passwords from employees and to provide a “no port” option, whereby customers would have to go through a company’s fraud department before transferring their SIM information to a new phone. In a SIM swap, criminals pose as the owners of a victim’s mobile phone number, convincing telecom providers to grant…

Bitcoin Recovers Above $8K After 18th Million Bitcoin Was Mined

Saturday, Oct. 19 — crypto markets are seeing a slight recovery after another downward movement as Bitcoin (BTC) is back to trading above $8,000. Market visualization. Source: Coin360 18 million BTC mined, BTC blockchain hits 600,000 blocks  After trading below $8,000 threshold for most of the day, Bitcoin has seen a sharp recovery to climb above the mark at publishing time. The biggest cryptocurrency is trading at $8,041, up 1.2% over the past 24 hours, according to Coin360. However, Bitcoin is still in red over the past week as its…

With 18 Million Bitcoins Mined, How Hard Is That 21 Million Limit?

In a matter of hours, the 18 millionth bitcoin will have been mined and the world’s first cryptocurrency will draw one step closer to its hard-coded cap of 21 million coins. “The pie is shrinking. This [milestone] gives people some simple math to raise awareness about where we’re at in the [bitcoin mining] process,” said Alex Adelman, CEO of bitcoin rewards platform Lolli, adding: “It’s good for people to see the progress of bitcoin, to look back on everything that has been done and will be done for the next…

Circle to Spin Out Poloniex Less Than 2 Years After $400 Million Takeover

Crypto exchange Poloniex is spinning out from its parent firm Circle, the companies announced Friday. According to a pair of blog posts, Poloniex will now become Polo Digital Assets, Ltd., an “independent international company” backed by an unnamed Asian investment firm. The trading platform will not serve U.S. customers after this year. U.S. residents have until Dec. 15, 2019 to withdraw their assets, with all trades being suspended on Nov. 1, 2019, the blog post said. Poloniex said the company has “a multiyear plan to spend more than $100 [million]…

Crypto-Friendly Browser Brave Hits 8 Million Monthly Active Users

Cryptocurrency-powered web browser Brave announced on Oct. 16 that it reached 8 million monthly active users. Furthermore, daily active users stand at over 2.8 million and the number of creators subscribed to its web advertisement network also reportedly substantially increased.  There are also over 290,000 Brave Verified Publishers who subscribed to the advertisement platform powered by Brave’s Basic Attention Tokens (BAT). The composition of those publishers is the following: “200,000 of those are YouTube creators, 33,000 are website publishers or creators, 15,000 are Twitch streamers, and since we announced our…

South Korean Blockchain ID Service Raises $8 Million in Series A

ICONLOOP, a South Korean blockchain startup that provides digital identification services, received its first venture capital investment through an $8 million Series A funding round, the company said. ICONLOOP is a subsidiary of DAYLI Financial Group, one of the largest fintech companies in Asia. The financing round was led by the quasi-government agency Korea Technology Finance Corporation (KOTEC). Another six investment companies, including T.S. Investment, also backed ICONLOOP in this round. Proceeds will be used to launch its digital identification service “my-ID” and expand a group of expected clients called my-ID…

Why French Lender SocGen Issued a $110 Million Ethereum Bond to Itself

Six months after Societe Generale issued its first bond on a public blockchain, it has yet to offer the instrument to clients or to make use of the full capabilities of the smart contract mediating the sale.  But the French financial institution insists that it hasn’t forgotten about the €100 million (roughly $110 million) bond, which it sold to itself, and that it remains interested in trialing blockchain technology in the long term.  “Our intention is to not resell this at this point in time,” said Jean-Marc Stenger, CEO of…

‘Teenage Bitcoin Millionaire’ Co-Founds $1 Million Investment Fund for Crypto Startups

The leaders of crypto payment app Metal Pay, Marshall Hayner and Erik Finman, are launching an investment fund. Dubbed Metal VC, the $1 million dollar fund will focus on micro and angel investments, primarily in early-stage companies involved in banking and decentralized finance. The fund will allow the startup to align with partners as it expands globally, according to Metal CEO Hayner. The Metal subsidiary closed its first deal last month, with an undisclosed stake in the Binance-backed startup Yellow Card, which provides a cash-to-crypto on-ramp for emerging markets. A…

State-Owned French Bank Joins Bitcoin Startup’s $8 Million Series A

“We’re convinced that bitcoin is becoming more and more obvious.” That’s not typically what one might expect to hear from a veteran banker at a public institution. But Veronique Jacq of the partially state-owned French investment bank Bpifrance told CoinDesk bitcoin is becoming a staple of the global economy. That’s why Bpifrance just made its first investment in a crypto startup, because the bank wants to play an active role in building bitcoin’s infrastructure. The lightning-focused startup ACINQ raised an $8 million Series A led by Idinvest Partners, with the…