Ukraine Asks Exchanges to Freeze Russian, Belarusian Crypto Accounts

Ukraine Asks Exchanges to Freeze Russian, Belarusian Crypto Accounts

“We are not going to unilaterally freeze millions of innocent users’ accounts. Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists. However, we are taking the steps necessary to ensure … Read more

Crypto exchange Binance says it won’t unilaterally freeze accounts in Russia

Crypto exchange Binance says it won't unilaterally freeze accounts in Russia

Feb 28 (Reuters) – Cryptocurrency exchange Binance has no plans to unilaterally freeze user accounts in Russia, the company’s representative said on Monday, after Ukraine had asked cryptocurrency bourses to block operations with Russia.”We are not going to unilaterally freeze millions of innocent users’ accounts. Crypto was meant to provide greater financial freedom for people … Read more

SIM-swapping attacks, many aimed at Crypto accounts, are on the rise

The Federal Bureau of Investigation received more than 1,600 SIM-swap complaints in 2021, the agency said. (HT_PRINT)

Cyber thieves targeting crypto and traditional bank accounts stepped up their illegal activities last year, resulting in a significant increase in the number of reported SIM-card crimes. The Federal Bureau of Investigation received more than 1,600 SIM-swap complaints in 2021, the agency said, resulting in estimated losses of as much as $68 million. In the … Read more

High-Yield Crypto Accounts Offer Big Returns, Bigger Risk

High-Yield Crypto Accounts Offer Big Returns, Bigger Risk

Their warnings are much needed. The trouble is, few people seem to be paying attention.An SEC order this week against BlockFi, a prominent crypto lending firm, highlights the perils for ordinary investors hoping to make easy returns from cryptocurrencies. In this case, BlockFi, which promises high yields to investors willing to lend their digital tokens to the platform, misstated … Read more

Drained Crypto Accounts at IRA Financial Leave Victims Searching for Answers

Drained Crypto Accounts at IRA Financial Leave Victims Searching for Answers

“Although our investigation remains ongoing, the facts discovered to date indicate that transfer requests were made by utilizing properly authenticated accounts controlled by IRA Financial Group, which were used to execute asset transfers to another account,” the firm wrote late Sunday night. “At the time, these requests complied with IRA’s approval processes and appeared to … Read more

Crypto platform BlockFi to pay $100mn penalty over interest-bearing accounts

Crypto platform BlockFi to pay $100mn penalty over interest-bearing accounts

US regulators have taken their first enforcement action on cryptocurrency lending, agreeing $100mn in settlements with BlockFi over charges that it offered interest-bearing accounts without registering them as securities.The US Securities and Exchange Commission announced on Monday it had agreed a $50mn settlement with the company, which will pay the same amount again to a … Read more

Crypto giant Binance restricts 281 Nigerian accounts

Crypto giant Binance restricts 281 Nigerian accounts

Binance app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/IllustrationLAGOS, Jan 30 (Reuters) – Binance, the world’s largest cryptocurrency exchange, has restricted the personal accounts of 281 Nigerian users, citing a need to comply with international money laundering laws, its CEO said.Changpeng Zhao said in a letter to Nigerian … Read more

Crypto.com CEO confirms hundreds of accounts were hacked, hedges on other details

Crypto.com CEO confirms hundreds of accounts were hacked, hedges on other details

The CEO of cryptocurrency exchange Crypto.com, Kris Marszalek, has finally confirmed that hundreds of user accounts were indeed compromised by hackers and had funds stolen as a result, though details of the exact method of breach remain unclear. Marszalek acknowledged the hack in an online interview with Bloomberg Wednesday, stating that around 400 customer accounts … Read more

How Coinbase Foiled The Theft Of A Half Million From An Elderly Man’s Bank Accounts

How Coinbase Foiled The Theft Of A Half Million From An Elderly Man’s Bank Accounts

Scammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchange froze the funds. getty In late August, an elderly Asheville, North Carolina man received a terrifying call from someone claiming to be … Read more

Don’t use your number for 2FA on crypto accounts — here’s why

Don’t use your number for 2FA on crypto accounts — here’s why

Ultra-tight account security in the cryptocurrency world is a must. Not only are your digital assets at risk, but crypto exchanges are notorious for offering lousy customer support. If your account gets hacked and a malicious actor drains your funds, good luck finding a live agent! Even Coinbase, one of the world’s most popular crypto … Read more

Advisors, Do Crypto ETFs Belong in Qualified Retirement Accounts?

Advisors, Do Crypto ETFs Belong in Qualified Retirement Accounts?

For financial advisors, client questions about holding cryptocurrency exchange-traded funds in retirement accounts may be on the horizon — if… For financial advisors, client questions about holding cryptocurrency exchange-traded funds in retirement accounts may be on the horizon — if they haven’t started yet. The October debut of the ProShares Bitcoin Strategy ETF (ticker: BITO) … Read more

Nigerian banks tracking customer accounts for crypto trading

Nigerian banks tracking customer accounts for crypto trading

In Nigeria, commercial banks have begun monitoring accounts that appear to be utilized for cryptocurrency trading. The action is in response to an order from the Central Bank of Nigeria (CBN) demanding all commercial banks freeze accounts belonging to at least two individuals engaged in cryptocurrency trading.According to a report by local publication Leadership, an … Read more

Why the SEC’s green light for Bitcoin ETFs failed to reassure Charles Schwab & Co. that it can make crypto trading available to its 32.5 million retail accounts

Why the SEC's green light for Bitcoin ETFs failed to reassure Charles Schwab & Co. that it can make crypto trading available to its 32.5 million retail accounts

The $7.6 trillion in administered assets giant sees mixed signals from regulators who are drawing lines as it goes along — treacherous regulatory conditions for a big company not built to shift course at a whimBrooke’s Note: Cryptocurrency is surely having it’s moment in the sun but it’s still all immersed in an air of radical … Read more

Liquidator of Defunct South African Crypto Exchange Says He Found a 54 BTC Discrepancy in Ice3’s Accounts – Exchanges Bitcoin News

Liquidator of Defunct South African Crypto Exchange Says He Found a 54 BTC Discrepancy in Ice3's Accounts

A court-appointed liquidator, Dewald Breytenbach of National Liquidators, recently claimed that out of the 76 bitcoins that belonged to the now-defunct South African cryptocurrency exchange, Ice3, his firm can only account for 22. Ice3’s Abrupt Shut Down The liquidator adds that the crypto exchange’s Zurich-based tech provider Merkeleon is now being asked to help unravel … Read more

Crypto Exchange WazirX Locked Around 14,500 Accounts During April-September

Crypto Exchange WazirX Locked Around 14,500 Accounts During April-September

Currently, WazirX said it has a total user base of 8.5 million.New Delhi: Cryptocurrency exchange WazirX said that it has locked around 14,500 user accounts during April 1 to September 30, 2021 along with a 100% compliance rate for law enforcement requests.In its first ‘Transparency Report’ released on October 11, the company stated, “Our compliance … Read more

money laundering: Crypto bourses block accounts as red flags rise

money laundering: Crypto bourses block accounts as red flags rise

Indian cryptocurrency exchanges have started reporting and blocking trading accounts, which undertake suspicious trades after government agencies raised red flags over cryptocurrencies being used for money laundering. The self-regulation comes at a time when India is yet to come out with any regulations around cryptocurrencies or the way to tax them. Industry trackers say investigators … Read more