Fri, Aug 28, 2020 8:50 PM by Sumit Bera

Weekly Crypto News — August, 28

Crypto news

Coins, Tokens

📌 The capitalization of Tether (USDT) exceeded $13 billion. The seven-day moving average of the transferred value in the leading stablecoin was $3.55 billion versus $2.94 billion for Bitcoin. The main factor behind the change of leader in the pair was the growing popularity of DeFi protocols.

📌 Bitcoin price holds above $10,000 for 29 days. The longest period that BTC was above $10,000 lasted 63 days. Industry players are already assessing the chances of achieving a new record. Meanwhile, the number of addresses with a balance above 1000 BTC reached a new record at around 2200. This indicates the reluctance of large players to realize profits at the current stage.

📌 Binance cryptocurrency exchange announced the addition of Pax Gold stablecoin to its listing. Binance started supporting PAXG on Wednesday, August 26th. Trading will be available in pairs with Bitcoin, BUSD, and BNB.

📌 Popular Australian exchanges delist Monero and other anonymous cryptocurrencies. On Monday, August 24, renowned Bitcoin evangelist Alex Saunders shared on Twitter a screenshot of a message he received from the Coinspot exchange administration. It states that from August 31st, trading in pairs with Monero (XMR), Komodo (KMD), Bytecoin (BCN), and ZCoin (XZC) will be stopped on the platform. Platform representatives confirmed the authenticity of the letter.

📌 China has confirmed plans to use the digital yuan at the 2022 Olympics. Chinese central bank spokesman Sun Guofeng said the national cryptocurrency is already being tested in several major cities ahead of the 2022 Winter Olympics.

Projects, Startups

📌 Line company launched a cryptocurrency wallet and blockchain platform for developers. A platform called LINE Blockchain Developers will allow issuing your own tokens, tokenize assets, and run decentralized applications (dApps). The BITMAX Wallet is currently only available to users from Japan, where Line messenger is especially popular.

📌 Payment card issuer Wirecard will lay off 730 of its 1,300 employees in the German office amid a bankruptcy lawsuit. Dismissal of part of the state will allow to keep some of the funds and use them to support the business. The company began selling assets to pay off creditors.

📌 YouTube representatives said that in the second quarter of 2020, YouTube almost completely automated the moderation and subsequent removal of content. As a result, more than 11.4 million videos were removed from the platform from April to June. The decision to entrust most of the moderation to the program was dictated by staff cuts and the transfer of employees to remote work due to the COVID-19 pandemic.

Law, Hacking, Cybercrimes

📌 Coinbit, one of the leading cryptocurrency exchanges in South Korea, is suspected of boosting 99% of trading volumes. The fraudulent scheme could make the company more than 100 billion won ($85 million). On August 26, Seoul police came to ransack the firm's offices. The employees of the exchange, led by the owner Choi Mo, are suspected of fraud using a laundering trading strategy.

📌 The hacker group Lazarus, which task is to create "social chaos", has targeted blockchain and cryptocurrency job seekers using the LinkedIn service. A number of specialists received job offers containing a malicious file. The researchers found that the software was created in 2019. Its code is available on the popular Internet security resource VirusTotal.

📌 A number of Austrian companies received letters demanding the payment of $ 20,000 in BTC. Otherwise, the attackers threaten to activate a hidden explosive device. Law enforcement officers conducted checks in Vienna and Tyrol but did not find bombs. They assume the attackers are from overseas.

📌 The hacker stole the personal data of users of the CryptoTrader.Tax service designed for tax accounting when making transactions with digital currencies. At least 1,082 clients became victims of the attacker. The attacker downloaded a file with a database of 13,000 lines, of which 1,082 are unique email addresses. After stealing the data, the hacker posted ads for the sale of the database on the darknet forums.

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The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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