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Insane

Pennsylvania: Crypto mining company buys power plant to meet electricity requirements

Crypto mining companies are continuing to find innovative solutions to power problems despite concerns regarding Bitcoin mining’s immense power requirements and ecological impacts. A Pennsylvania firm recently purchased the financially challenged Scrubgrass power plant. The plant currently produces enough power for 1,800 Bitcoin miners, with output increases planned to support more than 20,000 miners by […]

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Business World

China’s central bank declares all crypto-currencies illegal, effectively banning Bitcoin, Ether and all other digital tokens

China’s central bank announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said, warning it “seriously endangers the safety of people’s assets”. China is one of the world’s largest crypto-currency markets. Fluctuations there often impact the […]

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Business Social Media Reactions World

Fake news claiming Walmart would accept cryptocurrency surges prices

Cryptocurrency Litecoin saw a sudden surge in price on Monday after a press release claimed Walmart began accepting it for payment — this turned out to be fake. The release, published through a legitimate press channel, claimed that Walmart would accept the currency through all its digital stores. Walmart later told US media outlets the […]

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Business World

El Salvador buys 200 Bitcoins as cryptocurrency becomes legal tender

El Salvador became the first country to adopt bitcoin as a national currency on Tuesday. President Nayib Bukele announced late Monday that his government has purchased another 200 bitcoins ahead of El Salvador’s formal adoption of the currency. El Salvador now holds 400 bitcoins, which are worth nearly $21 million at current trading levels. Bitcoin […]

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World

UK regulator flags Kim Kardashian’s Instagram for promoting ‘untested cryptocurrency’

Kim Kardashian has been criticised for promoting an untested cryptocurrency on Instagram, by the head of the UK’s Financial Conduct Authority (FCA). Charles Randell said Ms Kardashian had “asked her 250 million followers to speculate on crypto tokens” by promoting an advert for Ethereum Max. He called it “a speculative digital token created a month […]

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World

Nearly 70% of citizens in El Salvador disagree to use Bitcoin as legal currency

El Salvador will become the first country in the world to recognize Bitcoin as legal tender from 7 September. The government has presented the measure as a way to boost economic development and jobs. Polls suggest Salvadorians are not prepared for the move, and the World Bank has warned against its adoption. Analysts say it […]

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Insane World

Man hunts down teenagers who stole his 16 bitcoin, sues their parents

Andrew Schober invested 95 percent of his net wealth in the digital tokens, which he hoped he could sell later to buy a home and support his family. But then disaster struck. Schober downloaded an app called “Electrum Atom” after clicking a link on Reddit, mistakenly thinking it was a bitcoin wallet. Instead, it was […]

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Business World

Bitcoin breaches $50,000 mark after months of slump

Bitcoin has surged above the $50,000 mark, as the virtual currency continues to climb out of a months-long slump. It’s the first time bitcoin has reached that milestone since May 15. Bitcoin’s peers also advanced: Ethereum was up more than 3%, while dogecoin rose nearly 2%. Bitcoin had been inching near that mark all weekend […]

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Insane

Sweden returns bitcoin worth $1.3 million to jailed drug dealer

Authorities in Sweden reportedly returned approximately $1.3 million worth of Bitcoin to a jailed drug dealer who amassed the funds in illegal online sales. Following the drug dealer’s arrest, the Swedish Enforcement Authority began auctioning off the 36 Bitcoin that had been amassed at the time. However, the value of the stolen cryptocurrency has since […]

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Business World

Japanese crypto exchange hit by hackers, nearly $100 million stolen

Liquid, a Japanese cryptocurrency exchange company was hit by hackers, with almost $100 million stolen. The firm said some of its digital currency wallets were “compromised.” This is the second major theft of cryptocurrencies to take place in recent days. Last week, digital token platform Poly Network was at the centre of a $600 million heist. […]

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Business World

Poly Network offers crypto hacker $500,000 reward and immunity for returning $600 million

The hacker who stole over $600 million in crypto assets was offered $500,000 and immunity as a reward for returning the money. Poly Network made the controversial offer after the hacker pledged to send back the money. The attack was uncovered on Tuesday when Poly Network publicly pleaded with the hacker to help. One former […]

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Business

Cryptocurrency: Hacker steals ‘important coins’ worth $600 million from blockchain platform Poly Network

The hacker behind one of the largest ever cryptocurrency heists returned almost half of the $600 million stolen assets. Blockchain platform Poly Network wrote a letter on Twitter, asking the individual to get in touch “to work out a solution”. The website said the amount of money hacked was the “biggest” incident so far in […]