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From CCN.com: this week in the crypt has seen several interesting developments regarding the exchanges, the scams at the exit and at least one bankrupt company financed by ICO in the form of Giga Watt.
Crypto Media adheres to the history of the Russian government that buys Bitcoin, CCN asks for proof
CCN began the week by driving a mythical upcoming "10 billion bitcoin purchase" from the Russian government. P. H. Madore received a negative reaction to the article, which listed some of the sites that sensationalized the questionable claims of a little-known Russian economist.
How interesting it would be if the sanctions resulted in this. However, it is doubtful that the size of the market could support something like this level of trade without it becoming boring. What do you think? https://t.co/AhOKvu1Jyd #bitcoin #Russia #sanctions
– Pat Rabbitte (@ PatRabbitte1) January 8, 2019
A few days later, CCN doubled our positivity on the fact that Russia made no official announcement regarding the purchase of a large Bitcoin block.
One thing remains clear: the Russian government has not officially announced plans to buy Bitcoin as a cover against anything. As far as we know, Bitcoin is still going through the regulatory process in the old communist country. However, a Russian official spoke of the excessive regulation of Bitcoin this week.
Ethereum Constantinople Fork delayed at the last minute
Due to a last-minute warning of a security breach with EIP-1283, the developers of Ethereum have decided to postpone the update of Constantinople. A 6-week roadmap was announced by Friday. It is not yet clear why the security company Chainsecurity waited until this week to reveal its results. The presumable explanation is that this was the first to be able to confirm the bug, which was not found live in any intelligent contract, but would allow "reentrancy attacks".
DX.Exchange Exposed as a pivot effort of Scammer binary options
P. H. Madore and Samantha Chang of CCN made some statements about the DX.exchange, which had no pickup / deposit noises. CCN was able to confirm through government documents something that the company denied until the last minute: its relationship with SpotOption, a provider of binary options scam software that ceased operations when Israel the sale of financial products is prohibited.
Runescape Player gets a Bitcoin donation worth $ 70,000
A Runescape player received over $ 70,000 in a single donation while streaming on Twitch. As Vignesh Selvasundar of CCN writes:
Initially, Sick Nerd received a donation of 4 BTC. He received multiple BTCs throughout his stream. While initially the player thought someone was playing with him, he received more during the session. It received a total of 20.49 BTC (about $ 73,000 at the time) by the end of the day.
Thanks to my mysterious benefactor whoever you are, really a lot of money that changes the life that I or no one deserves, but look what happened.
crazy– Sick Nerd (@Sick_Nerd) 11 January 2019
Finally, Crypto Mining Company comes out of the market
CCN reported the definitive closure of the Giga Watt host farms. The company had filed for bankruptcy last year, but still had some ongoing operations. Giga Watt financed a high level of interest with an ICO in 2017. The WTT token will now have no value, although it seems that it is still in the possession of some markets for inexplicable reasons.
BitMEX terminates service for customers in the United States and Quebec
BitMEX has decided to reduce its activities in the United States and in the Canadian province of Quebec. Alan Wass of CCN writes:
BitMex is currently in the process of closing US trading accounts and also those in Quebec in the face of current repression of unauthorized encryption. The popular trading platform is currently based in Hong Kong and is known for having inhabited the most expensive office property in the heart of the Asian financial epicenter.
Cryptopia gets hacked
The exchange of cryptopia has undergone an exploit that has cost him "significant losses". As Habiba Tahir writes:
Finally, Cryptopia tweeted an official statement confirming the hack as a "security breach". The cryptographic exchange affirmed that it had suffered "significant losses" and had tried to address the situation. Within a few hours, Cryptopia contacted the New Zealand police and the High Tech Crime Consortium (HTCC) to investigate the incident.
Later in the week, Binance froze the assets of the Cryptopia hackers and the New Zealand police provided some details about the investigation.
Giant Exchange OKCoin Lists Tron
Tron found himself in a new exchange, officially started on Thursday. CCN had the opportunity to speak with Tim Byun, CEO of OKCoin, regarding the listing. Byun was quoted as saying:
We do not have an ATS or broker-dealer license, so we can not facilitate securities trading. We have made sure that TRX is used today as a utility. That there is a case of use, which passes the Howey's test, as established by the previous decisions of a SEC case, this is the best we have.
The Tron team also impressed OKCoin positively.
Blockchain Regulatory Certainty Act
Friday saw good news for cryptography, in a continuous slowdown in the market values of all cryptocurrencies. The "Blockchain Regulatory Certainty Act" was reintroduced in the United States Congress. As CCN author David Hundeyin writes:
Marked "Blockchain Regulatory Certainty Act", it was initially introduced on the floor of the house in September 2018 along with two other legislation related to cryptocurrency, in particular a resolution of the Chamber to express support for cryptocurrency and blockchain technology, and the a safe haven for taxpayers with the Forked Assets Act of 2018, aims to address the confusion surrounding the way to report gains made as a result of the cryptocurrency fork to the Internal Revenue Service (IRS).
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