Tag: bitcoin

Bitcoin exchange president’s death puts millions out of reach

OTTAWA, Canada (AFP) — A Canadian cryptocurrency exchange was granted bankruptcy protection on Monday after its president took passwords for accounts containing Can$180 million ($137 million US) to his grave when he died suddenly. In a statement, QuadrigaCX said it sought protection from creditors after weeks of attempting to “locate and secure our very significant cryptocurrency reserves” following the death of its president Gerald Cotten. Nova Scotia’s high court granted the application made by Cotten’s […]

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Bitcoin falls below $5,000 for first time since 2017

by Dmitry ZAKS Agence France Presse LONDON, United Kingdom (AFP) —  The value of bitcoin slipped Monday below $5,000 (4,366 euros) for the first time since October 2017 as a broad selloff gathered steam on the opaque cryptocurrency market. Data compiled by the Coinbase digital exchange showed the world’s most popular virtual currency losing 12.5 percent of its value from Friday evening to stand at $4,914.21 by 1930 GMT Monday. The rout began on Wednesday […]

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$60 million in virtual currency hacked in Japan

TOKYO, Japan (AFP) — Digital currency worth around 6.7 billion yen ($60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday. Osaka-based Tech Bureau, which operates virtual currency exchange Zaif, said its server had been illegally accessed and money transfered. “We decline to comment on the details of how this illegal access occurred, as it is a crime and we’ve already asked the authorities to investigate,” Tech […]

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Hackers steal $30m from top Seoul bitcoin exchange

  SEOUL, South Korea (AFP) — Hackers stole more than $30 million worth of cryptocurrencies from South Korea’s top bitcoin exchange, sending the unit’s price falling around the world on Wednesday. The virtual currency was priced at $6,442 dollars late afternoon in Seoul, down about 4.4 percent from 24 hours earlier, after the latest attack on Bithumb raised concerns over cryptocurrency security. Hyper-wired South Korea has emerged as a hotbed of trading in virtual units, at […]

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Bitcoin ‘whales’ pulling cryptocurrency strings

  by Kevin Trublet © Agence France-Presse LONDON, United Kingdom (AFP) — Bitcoin, the star of the cryptocurrency world, is widely seen as a freewheeling tool as open as the internet itself. But analysts have cast doubt on the veracity of that perception, highlighting that the bulk of bitcoin is in fact heavily concentrated in the hands of a powerful few. Some 1,000 bitcoin holders — out of a total 11 million — hold some 35.4 […]

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Pacquiao to launch own cryptocurrency

(Agence France Presse) — Boxing icon Manny Pacquiao said Wednesday he would launch a cryptocurrency to connect with fans, but also backed the regulation of virtual currencies. Pacquiao, one of the world’s most successful boxers, is the latest athlete to launch a virtual currency, following Floyd Mayweather and former England striker Michael Owen. The Singapore-based Global Crypto Offering Exchange (GCOX), in which Pacquiao has invested, said it would unveil the “PAC Token” later this year, […]

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Bitcoin’s true believers vow to ride out currency rollercoaster

by Ali Bekhtaoui  Agence France Presse NEW YORK, United States (AFP) — The crowds have thinned somewhat at Bitcoin Center, leaving just the true believers in the volatile cryptocurrency. “Two months ago we couldn’t breathe here” due to the throngs, recalled Nick Spanos, founder of the trading and educational hub in lower Manhattan. “People outside couldn’t get inside.” The center, which was set up in December 2013, calls itself a one-of-a-kind epicenter for all things […]

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Central bank digital currencies ‘uncharted waters’: report

ZURICH, Switzerland (AFP) — The creation of digital currencies, like bitcoin, by central banks could revolutionize the global financial system but also carries significant fraud risks, the Bank for International Settlements warned on Monday. In a report, the Bank for International Settlements (BIS) said the launch of cryptocurrencies by central banks had potential benefits but could also have a detrimental impact, including exposing banking centers to a greater risk of cyber attacks. “The potential effect […]

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Bitcoin drops below $6,200 for first time in three months

TOKYO, Japan (AFP) — Bitcoin plunged 20 percent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year. Tuesday’s collapse comes just six […]

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Facebook bans ads for cryptocurrencies

WASHINGTON, United States (AFP) — Facebook says it is banning all ads related to cryptocurrencies in an effort to fight scams. The social media giant said it is barring ads for “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.” Initial coin offerings or ICOs are a way for companies to raise funds by selling investors cryptographic assets. Fraud is common in the world […]

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Wall Street soars yet again; bitcoin crashes below $10,000

NEW YORK, United States (AFP) — Wall Street shot past a fresh set of a milestones on Wednesday as irrepressible investor appetite returned US stocks to their steady stream of record finishes. Across the Atlantic, however, European equities churned lower as market players took their cue from downbeat sentiment in Asia. Virtual currency bitcoin dived, falling below $10,000 for the first time in six weeks in what one analyst called a “cryptocalypse” as several digital […]

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Cryptocurrency rivals snap at Bitcoin’s heels

PARIS, France (AFP) — Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it’s not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting. Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin’s $200-billion euro ($242 bilion) market capitalisation, several have left the media darling’s profitability in the dust. In […]

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