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Saturday, December 4, 2021
Crypto platforms need regulation to survive, says SEC boss

Crypto platforms need regulation to survive, says SEC boss

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The chair of the US Securities and Exchange Commission is warning that cryptocurrency trading platforms are putting their own survival at risk unless they heed his call to work within the nation’s regulatory framework. Gary Gensler told the Financial Times that while he remained “technology neutral,” crypto assets were no different than any others when…
Coinbase erroneously reported 2FA changes to 125,000 customers

Coinbase erroneously reported 2FA changes to 125,000 customers

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Enlarge / On Friday afternoon, Coinbase sent email and SMS text messages to 125,000 customers, erroneously telling them that their 2FA settings had been changed. Cryptocurrency exchange Coinbase sent an automated message to a large number of its customers on Friday, saying "your 2-step verification settings have been changed." Unfortunately, the message was sent in…
Bitcoin power plant is turning a 12,000-year-old glacial lake into a hot tub

Bitcoin power plant is turning a 12,000-year-old glacial lake into a...

Enlarge / In this aerial photo of Greenidge Generation's power plant outside Dresden, NY, Seneca Lake is visible in the background. The lake receives warm water from Greenidge's operations. The fossil fuel power plant that a private equity firm revived to mine bitcoin is at it again. Not content to just pollute the atmosphere in…
GameStop FOMO inspires a new wave of crypto pump-and-dumps

GameStop FOMO inspires a new wave of crypto pump-and-dumps

After the California Gold Rush, in 1870, two Kentucky swindlers whipped up a scheme to prey on thirsty financiers’ FOMO. They invented a diamond field out West. Investors sunk millions in today’s money into the scheme. All of it, of course, was for naught—a cautionary tale about believing anyone who claims they have a surefire…
Multiple US agencies probing world’s largest cryptocurrency exchange

Multiple US agencies probing world’s largest cryptocurrency exchange

Binance, the world’s largest cryptocurrency exchange, is under investigation by a laundry list of US government agencies, including the US Justice Department, the Internal Revenue Service, and the Commodity Futures Trading Commission, according to a report by Bloomberg. The agencies are probing Binance for potential criminal violations, the report says, though the company has not…
Musk: Bitcoin is bad for climate (and you can’t buy Teslas with it anymore)

Musk: Bitcoin is bad for climate (and you can’t buy Teslas...

Enlarge / Elon Musk in 2020. Tesla CEO Elon Musk announced on Wednesday that Tesla would stop taking bitcoin as payment for the company’s electric vehicles. The change comes less than two months after the automaker began accepting the cryptocurrency. Why the about-face? Musk now says he has concerns over bitcoin’s carbon footprint. Tesla’s purchase policy…
Windows and Linux devices are under attack by a new cryptomining worm

Windows and Linux devices are under attack by a new cryptomining...

Getty Images A newly discovered cryptomining worm is stepping up its targeting of Windows and Linux devices with a batch of new exploits and capabilities, a researcher said. Research company Juniper started monitoring what it’s calling the Sysrv botnet in December. One of the botnet’s malware components was a worm that spread from one vulnerable…
Feds indict John McAfee for cryptocurrency pump-and-dump fraud

Feds indict John McAfee for cryptocurrency pump-and-dump fraud

Enlarge / John McAfee on his yacht off the coast of Cuba in 2019.Adalberto ROQUE / AFP / Getty Federal prosecutors have indicted noted cybersecurity eccentric John McAfee for securities and wire fraud for misleading investors at the peak of the last cryptocurrency boom. In late 2017 and early 2018, McAfee urged his hundreds of…
Prosecutor charges former phone company employee in SIM-swap scheme

Prosecutor charges former phone company employee in SIM-swap scheme

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Getty Images A former phone company worker has been charged with conspiracy to commit fraud for allegedly using his access to customer account data to take over the phone numbers of 19 customers, including at least one cryptocurrency holder. Stephen Daniel DeFiore of Brandon, Florida, received about $2,325 between October 20, 2018, and November 9,…
WallStreetsBets craze pushes dogecoin up 5x in 24 hours

WallStreetsBets craze pushes dogecoin up 5x in 24 hours

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Onay Jakobov / EyeEm / Getty Dogecoin—the cryptocurrency based on a meme about an over-enthusiastic Shiba Inu dog—reached an all-time record price of 4 cents on Thursday evening. That represents an incredible fivefold increase over the preceding 24 hours. The cryptocurrency was trading for less than a penny on Wednesday evening. Dogecoin's rally appears to be…

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