An Australian cryptocurrency investor has lost US$267 million after failing to secure funding for his Silicon Valley-based blockchain start-up as the digital currency market remains in a knockout. Michael Dunworth, the co-founder of Wyre, said he was dealt a heavy blow by the news last week that US online checkout company Bolt Financial Inc scrapped…
Australian Crypto Entrepreneur Lost $267 Million After Deal Collapsed Amid Crypto Market Plunges
September 22, 2022
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Dollar Steady With Fed in Focus, Swiss Franc Strongest vs Euro Since Jan 2015
SINGAPORE/LONDON—The dollar held near recent peaks on Thursday, supported by the view that the Federal Reserve will keep tightening policy aggressively, while the Swiss franc hits its strongest against the euro since the Swiss National Bank removed its floor under the currency in 2015. The franc rose 0.5 percent against the euro to as high…
Three Things That Could Kill Crypto
August 26, 2022
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Following the drubbing of the crypto markets in June 2022, with Bitcoin and Ethereum prices down nearly 75 percent and 82 percent, respectively, from their all-time highs, many market observers predicted the early death of the crypto industry. Crypto detractors, including regulators and vested interests in the legacy financial system, each used the rout as…
Crypto Hackers Have Stolen $1.9 Billion so Far in 2022, Says Chainalysis
Around $1.9 billion worth of digital tokens were stolen by hackers from the beginning of the year through July, according to blockchain analysis firm, Chainalysis. This is up 58 percent from the same time last year, as decentralized cryptocurrency DiFi protocols have become increasingly vulnerable to cyberattacks. DeFi protocols, with cross-chain bridges in particular, are used…
Former CEO Pleads Guilty in $21 Million Crypto Fraud Scheme, Wants to Give Money Back to Investors
The CEO of Titanium Blockchain Infrastructure Services Inc (TBIS), a purported cryptocurrency investment platform, pleaded guilty on July 22 to his role in a cryptocurrency fraud scheme, the Department of Justice (DOJ) announced. Michael Alan Stollery, 54, of Reseda, California, was the CEO and founder of TBIS, which was founded in 2017. Prosecutors said that Stollery pleaded guilty to one count…
How This Year’s ‘Crypto Winter’ Will Be Different
Commentary “This time is different” is a dangerous phrase in the world of finance. But for the cryptocurrency market, this time may actually be different. We are in the midst of a “crypto winter,” a term describing a period of very low prices for the nascent digital currencies market. This crypto winter has been especially…
Alert: This Malware Steals Your Crypto via ‘Free Bitcoin Mining’ Links on YouTube
A new type of crypto-malware identified on Alphabet Inc-owned Google’s YouTube has been found to infect users’ devices and steal from 30 different types of cryptocurrency wallets and browsers. What Happened According to a recent report from cyber intelligence firm Cyble Research Labs, the newly developed cryptocurrency stealer named “PennyWise” uses multithreading to steal user data….
Crypto Lender Voyager Digital Files for Bankruptcy
U.S. crypto lender Voyager Digital said on Wednesday it had filed for bankruptcy, becoming another casualty of a dramatic fall in prices that has shaken the cryptocurrency sector. Crypto lenders such as Voyager boomed in the COVID-19 pandemic, drawing depositors with high-interest rates and easy access to loans rarely offered by traditional banks. However the…
British Army’s YouTube and Twitter Accounts Briefly Spammed With Crypto Video and Elon Musk Photos
An investigation is underway after the British Army’s social media accounts were briefly hijacked on Sunday. The army’s YouTube channel was renamed “Ark Invest”—a global investment management firm—and featured a number a videos on cyptocurrency with images of billionaire entrepreneur Elon Musk. The Epoch Times has contacted Ark Invest for comment. Its Twitter account was…
Crypto’s Comeuppance
July 3, 2022
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Commentary NEW YORK—Bitcoin and associated cryptocurrencies have suffered a precipitous decline from their highs back in November when it was over $60,000. “Bitcoin to the Moon,” a frequent refrain of internet bitcoin advocates less than a year ago, now sounds like the rant of an End of Days prophet traipsing Madison Avenue in a sandwich…
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