Cryptocurrency News, Tips, Tricks & Ideas

Bitcoin fraud: Cryptocurrency market is at best a volatile arena and at worst, often, it a fraudsters' paradise that stretches well beyond the segment itself and spans the wider web where fraudsters deploy ingenious methodologies to entrap and fleece users of their money via online scams. Having said that, Bitcoin itself has been doing rather well in recent months, having hit rock bottom and then climbing back up. Bloomberg reports that Bitcoin price rose 3% to break above $45,000 on January 2 and that was the for the first time since April 2022. Yes, the world's biggest and best-known cryptocurrency started 2024 with a bang. Bitcoin rose to touch a 21-month high of $45,386 earlier in the day. Ether, the coin linked to the ethereum blockchain network, was 1% higher at $2,376. U-turns in fortune like these drive cybercriminals to lure people into their net and that is what has just happened to this woman.

After recovering from a near-death experience during the most recent crypto winter, Bitcoin miners are back in survival mode — spending billions of dollars on equipment and drawing energy at a record pace ahead of an update in the digital currency's code that threatens revenue streams. 

Pig-butchering scammers have likely stolen more than $75 billion from victims around the world, far more than previously estimated, according to a new study.

Global electricity demand from data centers, cryptocurrencies and artificial intelligence could more than double over the next three years, adding the equivalent of Germany's entire power needs, the International Energy Agency forecasts in its latest report.

GameStop is in the process of closing its cryptocurrency marketplace a year and a half after launch.

The Indian government stepped up its crackdown on offshore crypto exchanges operating without local registrations, asking Apple Inc. to take the apps of platforms including Binance off its App Store in the country. Bitfinex, HTX and Kucoin are among eight exchanges whose apps are no longer available on the App Store in India. They were removed on directions from the Ministry of Electronics and Information Technology, according to people with knowledge of the matter who asked not to be identified because the request isn't public. 

Hiring in crypto isn't heating up as fast as the recent rally the space has seen on expectations of an imminent approval of a US exchange-traded fund investing directly into Bitcoin.

Bitcoin struggled to rebound from a precipitous drop which sent the largest cryptocurrency falling as much as 9.22% earlier in the week.

Cryptocurrency market: Bitcoin price rose 3% to break above $45,000 on Tuesday for the first time since April 2022 as the world's biggest and best-known cryptocurrency started 2024 with a bang. Bitcoin rose to touch a 21-month high of $45,386 earlier in the day and was last up 2% at $44,980. Ether, the coin linked to the ethereum blockchain network, was 1% higher at $2,376.

In what may turn into a massive blow for cryptocurrency sector in India, Centre's Financial Intelligence Unit (FIU), which is under the Finance Ministry, has issued show cause notices to as many as 9 offshore cryptocurrency and virtual digital assets platforms, including Binance and Kucoin. The notifications were issued for non-compliance with anti-money laundering law.

In a troubling trend spanning the past year, cybercriminals have orchestrated a series of phishing scams to pilfer millions of dollars in cryptocurrency assets via deceptive ads on major platforms, including Google and X. Uncovered by cybersecurity experts at ScamSniffer, these scammers are employing a sinister tool known as 'wallet drainers' to carry out their nefarious schemes in phishing scams.

The sense of doom that gripped crypto markets at the end of 2022 following a $1.5 trillion wipeout has 12 months later given way to a very different sentiment: avarice. 

Epic Games Store has relaxed its content guidelines for publishers to allow games which have been rated Adults Only by the ESRB, so long as the rating has only been applied due to the presence of blockchain technology.

There's likely fewer than 30 days left before the crypto world's inevitable leap into traditional finance offers digital-money proponents a path to redemption post-FTX. That's the bullish narrative in virtual-currency land as the clock ticks down to Jan. 10 – when US regulators must finally decide whether to greenlight a physically-backed Bitcoin ETF. The Securities and Exchange Commission will by that time be required to either accept or deny an application from Cathie Wood's ARK Investment and 21Shares, who were the first to file during this year's batch of applicants. It could at that time also rule on other similar filings. More than 10 companies are working toward getting these ETFs — which would directly hold Bitcoin - green-lit.

 Smaller, lesser-known digital currencies are outperforming Bitcoin after the breathtaking surge by the market bellwether in recent weeks. 

Here's a question few of us will ever have to answer. Would you rather have $23 billion living in the United Arab Emirates with no US extradition treaty, or sacrifice a chunk of your wealth and perhaps spend 18 months behind bars to resolve all your issues with the US Department of Justice and Securities and Exchange Commission?

Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry.

The world's largest cryptocurrency exchange by trade volume, Binance, came under regulatory scrutiny earlier this year when the US Department of Justice (DOJ), along with the Commodity Futures Trading Commission (CFTC) cracked down on the company's lack of regulatory and legal mechanisms to prevent transactions made to fund terrorism, drug deals, and other illegal activities, as per the agencies. On Tuesday, the CEO of the company, Changpeng Zhao, pleaded guilty and agreed on a settlement worth 4.3 billion dollars.

Changpeng Zhao had long cultivated the image of the rugged pugilist of the cryptocurrencies world. 

In a historic move in the cryptocurrency space, Binance cofounder Changpeng Zhao has agreed to step down from the position of the company CEO and has pleaded guilty to violating US anti-money laundering charges brought down by the US Department of Justice. The settlement of the case comes at an unprecedented 4.3 billion dollars to resolve a long-running investigation into the world's largest cryptocurrency by trade volume. But who is Zhao, who created this massive empire and brought it to a fall, conceding a personal payment of 50 million dollars as a penalty to the US government? Let us take a closer look.

 Almost a year after the demise of Sam Bankman-Fried's crypto empire, one of the blockchain projects most associated with the now disgraced entrepreneur is emerging from under the cloud his downfall cast over the digital-asset world. 

FTX co-founder Sam Bankman-Fried returns to the stand Monday, when he's likely to face a bruising cross-examination based on his Friday testimony that he made mistakes but didn't commit fraud that led to the cryptocurrency exchange's collapse.

A tax that pulverized digital-asset trading in India has proved counterproductive and ought to be lowered, according to CoinDCX, a domestic exchange that was valued at over $2 billion before the levy was imposed.

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, took the stand at his trial on Friday and said that while he may have made mistakes he did not commit fraud or steal from customers.

In a recent case of online fraud, the Central Bureau of Investigation (CBI) has taken action against a man from Ahmedabad who swindled a US citizen by pretending to be a senior executive from a big company's fraud department. It is alleged that Ramavat Shaishav used fake identities to deceive the victim to part with their cryptocurrency.

Sam Bankman-Fried's words in tweets and group chats are being used as evidence against him in his historic fraud trial. Screenshots of messages, social media posts and internal documents have been presented by prosecutors to demonstrate how the 31-year-old allegedly orchestrated a multibillion-dollar scheme at his FTX cryptocurrency exchange, along with his trading firm Alameda Research. The documents offer a look into the mechanics of his alleged fraud as well as the discrepancies between his public statements and private instructions to his inner circle.

In the sprawling landscape of emerging markets, countries like India are definitely on the cusp of a digital revolution. With over a billion people and a burgeoning middle class, we have a massive opportunity for technology-driven innovation. Enter Web3, the decentralized web, which is poised to reshape the way consumers in India interact with digital services, conduct financial transactions, exercise control over their online identities, and even manage their healthcare.

Bitcoin is poised to snap a four-week decline, but analysts are questioning how long the rally will last.

Distinguishing humans from Artificial Intelligence (AI) is becoming increasingly complex as AI technologies advance. Humans possess qualities such as consciousness, emotions, and creativity that set them apart from anything technology might have produced. However, modern AI systems can simulate human-like conversations, solve intricate problems, and even generate creative content. Because of these qualities of AI, it has become extremely difficult to authenticate a user's identity.

Worldcoin will expand its operations to sign up more users globally and aims to allow other organisations to use its iris-scanning and identity-verifying technology, a senior manager for the company behind the project told Reuters.

Kenya's interior ministry has suspended the activities of Worldcoin in the East African nation, as local authorities probe the possible security and data protection risks associated with the eyeball-scanning cryptocurrency project.

Sam Bankman-Fried must be jailed pending his October fraud trial over the collapse of the FTX cryptocurrency exchange he founded because he is trying to intimidate witnesses and influence their testimony, prosecutors said on Friday.

As Bitcoin roars back after a year of crypto industry scandals and losses, Mike Novogratz says one man in particular gives him reason to stay bullish.

France's privacy watchdog CNIL said on Friday it is aware of ChatGPT-founder Sam Altman's Worldcoin project and that the legality of its biometric data collection "seems questionable".

 FTX founder Sam Bankman-Fried has agreed to a gag order largely preventing him from publicly discussing his case after prosecutors accused him of trying to discredit their star witness, Caroline Ellison.

Crypto exchanges that connect buyers and sellers directly without Wall Street-style middlemen are under pressure to improve their services amid a decline in market share.