Bitcoin 

Capital One Hack Exposes 100 Million Accounts as Bitcoin Unaffected

The massive-scale hack of major United States credit card issuer Capital One has left the personal data of over 100 million individuals exposed. As CNN reported on July 30, confidential data for around 106 million Capital One customers’ accounts and credit card applications was stolen by an alleged hacker, Paige Thompson, 33, in March of this year. Capital One: a centralized trove of KYC data Thompson, a Seattle resident, was arrested by the FBI on June 29 and is accused by the US Department of Justice of having gained unauthorized…

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Blockchain 

Metropolitan Commercial Bank Requests That Tether Close Its Accounts

New York-based Metropolitan Commercial Bank has requested that stablecoin issuer Tether close its accounts with the bank, technology-focused news outlet Coindesk reported on July 10. Tether and its affiliated companies have reportedly had accounts with Metropolitan Commercial Bank for almost half a year, and now the financial institution has reportedly requested that Tether close its three accounts. A bank’s spokesperson told Coindesk that Tether has not shown much activity with the accounts since their establishment. The spokesperson said: “Metropolitan Commercial Bank had limited, corporate operating accounts with Tether Holdings LTD,…

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Ethereum 

Poloniex Crypto Exchange Users Can Now Use Cards and Bank Accounts

Major cryptocurrency exchange Poloniex announced that it now allows its customers to use credit cards and bank accounts on the platform in a Medium post published on July 9. Per the release, exchange users from 80 countries can now directly move funds to and from their bank accounts, which will be automatically converted into stablecoin USD Coin (USDC) on Poloniex.  Initially, the weekly limits are $50,000 for deposits and $25,000 for withdrawals, but the exchange admits that those limits can be increased to fit the needs of specific customers.  Customers…

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Blockchain 

HitBTC Dismisses Allegations It Froze Accounts in Response to Proof of Keys Event

Cryptocurrency exchange HitBTC has rejected allegations by some of the industry’s best-known figures that it was deliberately freezing user accounts, the company told Cointelegraph in an email Jan. 3. Responding to a request for comment, Peter Swen, a representative from the exchange’s marketing team, denied any link between account freezes and Thursday’s ongoing Proof of Keys event. After user complaints on social media, Proof of Keys’ organizer Trace Mayer had publicly suggested that HitBTC may be deliberately disabling withdrawals in response to the event. He was subsequently joined by others…

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Blockchain 

Major Korean Bank Clamps Down on Accounts Linked to Crypto Exchanges

One of South Korea’s biggest banks is planning to intensify regulations on accounts linked to crypto exchanges, BEI News reported on July 1. The “special measures” Shinhan Bank are proposing would reportedly involve dedicating staff to analyzing account transactions. It is believed the bank is hoping to distance itself from claims that it is helping financial criminals, amid a rise in the number of fraud cases involving exchanges. Later in July, the bank is also hoping to launch an artificial intelligence monitoring system that uses deep learning to identify fraudulent…

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Bitcoin 

QuadrigaCX Co-Founder Used User Deposits for His Own Trading, Created Fake Accounts

The deceased owner of the now-defunct Canadian crypto exchange QuadrigaCX was allegedly transferring user funds off the exchange and using them as a security for his own margin trading on other platforms. The news was revealed in the fifth report from court monitor Ernst & Young (EY), filed on June 19 with the Supreme Court of Nova Scotia. EY has outlined its principal concerns in relation to the exchange, noting that its operations were “significantly flawed from a financial reporting and operational control perspective.” In addition to most of the…

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Blockchain 

Crypto Wallet Says It Offers 1,000 EOS Accounts for Free

A crypto wallet provider says it has launched a giveaway that allows 1,000 users to get a free EOS account. Lumi Wallet notes the giveaway is taking place on a first-come, first-served basis. Instead of answering quiz questions, preparing a submission or entering into a lottery system, all that participants need to do is sign up in EOS for free. The promotion will end when all of the accounts have been snapped up. The company says the giveaway is in partnership with Minergate and Changelly, and comes as Lumi vies to become…

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Bitcoin 

California Public Accounts Seek Clarity on Cryptocurrency Holdings

The California Society of Certified Public Accountants (CalCPA) is seeking clarity on cryptocurrency holdings from the Financial Accounting Standards Board (FASB), according to a recent letter obtained by Cointelegraph. In the letter, CalCPA stated that accounting for digital currencies is not adequately captured under existing United States Generally Accepted Accounting Principles (GAAP) established by the FASB, and should be generally aligned with the accounting model for a foreign currency. The organization said that many of the features and risks of cryptocurrencies are similar to those of foreign currency. The society…

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Bitcoin 

Judge Freezes Funds in Accounts Belonging to Embattled Brazilian Crypto Firm

A Sao Paulo court has blocked funds in bank accounts linked to Grupo Bitcoin Banco — with 726,630 reals (about $188,000 at press time) frozen, Cointelegraph Brazil reported on June 5. Two people, along with one company, have accused GBB of engaging in abusive practices after they were unable to make conversions back into reals or withdraw funds to their bank accounts because of a temporary suspension on transactions. The trio claimed they have a total 726,630 reals on GBB’s platform and urged a judge at the Court of Justice…

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Blockchain 

Crypto Lending Startup BlockFi Launches Gemini Dollar Accounts

Cryptocurrency asset management company BlockFi announced that its interest-bearing accounts now support the gemini dollar (GUSD) in a post published on May 29. Per the announcement, GUSD deposits will see a yearly yield of 6.2%, paid in the stablecoin in question. BlockFi notes that it also offers GUSD as a U.S. dollar funding option and as collateral from institutional cryptocurrency borrowers. BlockFi CEO Zac Prince commented: “The implication of adding this functionality is that you could see crypto companies like BlockFi compete with traditional fintech challenger banks by taking advantage…

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