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Bitcoin drops below $19,000 to lowest level in 18 months

Bitcoin dropped below $19,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates. The biggest cryptocurrency was down 7.1% to $18,993, having earlier touched $18,732, its lowest since December 2020. It is down about 59% this year, while rival cryptocurrency Ethereum-backed […]

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Business World

Bitcoin becomes legal tender in Central African Republic

The Central African Republic (CAR) has approved Bitcoin as legal tender. The second country to do so. CAR is one of the world’s poorest countries, but is rich in diamonds, gold and uranium. It has been wracked by conflict for decades and is a close Russian ally, with mercenaries from the Wagner Group helping fight […]

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World

FBI blame North Korean hackers for stealing $600 million in cryptocurrency from video gaming company

The FBI on Thursday blamed hackers associated with the North Korean government for stealing more than $600 million in cryptocurrency last month from a video gaming company. “Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum […]

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Insane World

US authorities seize $5 billion worth of stolen Bitcoin, arrest two for attempting to launder money

Stolen Bitcoin worth more than $5 billion has been seized by the US Department of Justice, the largest ever confiscation of its kind. Officials also arrested and charged two people on Tuesday with attempting to launder the money, which amounts to nearly 120,000 Bitcoin. The funds, stolen by a hacker who breached a cryptocurrency exchange […]

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Business World

IMF urges El Salvador to strip Bitcoin legal tender status citing obstacle to get loan from the institution

The International Monetary Fund’s board urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, highlighting a major obstacle for the nation’s efforts to get a loan from the institution. El Salvador last year sought a $1.3 billion IMF loan, but talks have been stymied by the lender’s […]

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Business World

Bitcoin has lost almost half its value since its November 2021 high

Bitcoin lost almost half its value since its November high, with cryptocurrency prices continuing to plunge as major economies look to curb their growing popularity. It’s not just Bitcoin, as cryptocurrencies in general have had a dismal start to the year. Bitcoin has fallen over 8% in the last 24 hours, and was trading at […]

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Social Media Reactions World

North Korean hackers stole almost $400 million worth of cryptocurrency assets in 2021: REPORT

North Korean hackers stole almost $400 million worth of digital assets in at least seven attacks on cryptocurrency platforms last year, a report claims. Blockchain analysis company Chainalysis said it was one of most successful years on record for cyber-criminals in the closed east Asian state. The attacks mainly targeted investment firms and centralised exchanges. […]

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Insane World

Cryptocurrency scammers stole record $14 billion in 2021

Scammers took home $14 billion in cryptocurrency in 2021, thanks in large part to the rise of decentralized finance (DeFi) platforms, according to new data from blockchain analytics firm Chainalysis. Losses from crypto-related crime rose 79 percent from a year earlier, driven by a spike in theft and scams. Scamming was the greatest form of […]

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Insane World

Kosovo bans cryptocurrency mining to curb electricity shortage after blackout protests

Kosovo has banned the mining of cryptocurrencies to curb electricity use as it grapples with an energy crisis caused by soaring global prices. The government says security services will identify and clamp down on sources of cryptocurrency mining. The mining is energy intensive and involves verifying digital transactions to get cryptocurrencies as a reward. While […]

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World

Australian man Craig Wright wins US court battle of 1.1 million bitcoin worth $54 billion

A computer scientist who claims he invented Bitcoin has won a court case allowing him to keep a cache of the cryptocurrency worth billions of dollars. A jury rejected claims that Craig Wright’s former business partner was due half of the assets. As a result Mr Wright will retain 1.1 million Bitcoin, worth $54 billion. […]

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Insane Social Media Reactions

Popular crypto trading hamster Mr Goxx has died

Mr Goxx, a hamster popular for being a cryptocurrency investor has died. The rodent gained fame after his owners decided to convert his actions into real trading for the crypto market. The whole thing was started as a joke to highlight the randomness of success in cryptocurrency. Mr Goxx’s humans, two men from Germany, broke […]

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World

El Salvador to build Bitcoin city at base of Conchagua Volcano

El Salvador plans to build a Bitcoin city at the base of the Conchagua volcano, with the cryptocurrency used to fund the project, its president has announced. The city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unión, President Nayib Bukele said. […]