[ad_1]
Harvest Finance, a digital web platform that allows users to earn interest on their crypto holdings, lost about $ 24 million in USDC and Tether following a recent hack. Executives have claimed to know who the hacker was on Twitter and are now promoting what they think is fair trade for the individual in question: return the money and there will be no legal consequences.
Iran became the first country to establish Bitcoin as a legal medium of exchange within its jurisdiction. The Iranian government has changed its cryptocurrency regulations so that miners can redirect cryptocurrencies to the Iranian financial mechanism for international trade. The move comes after renewed waves of US sanctions.
Popular crypto trading platform, Binance has come up with an elaborate method to bypass regulators and profit from US investors. According to a new report, the documentation suggests they established a company known as “Tai Chi” entity in the United States while also developing Binance.US, which would appear as a compliance-ready trading company, while the Tai Chi company would use tactics to circumvent jurisdictional requirements and forwarding money to Binance’s parent company.
Institutional cryptocurrency management firm Grayscale has added more than $ 300 million to the total crypto assets it manages. What’s more beautiful than this? The fact that those $ 300 million were accumulated in just one day. Analysts are taking this news as proof that the institutional presence in the cryptocurrency industry is expanding rapidly and relentlessly.
And now, this week’s Bitcoin Quick Question is: What is cryptojacking?
Every website we browse runs on a computer code.
As cryptocurrencies have become more popular, hackers have come up with new ideas on how to generate revenue using them.
A popular way, known as “cryptojacking”, was to hack and insert code into a website that essentially uses the user’s computer power to mine cryptocurrencies while sending rewards to hackers. This is partly what has made Monero, an anonymous currency, popular in recent years.
Cryptojacking still exists, however in 2019 Coinhive, a service that allowed webmasters to use this “ trick ” on their readers, was finally shut down. Since then, web mining has become less extensive.
For more information on Cryptojacking, visit the link in the description below.
Do you have a question you want us to answer? Leave it in the comment section below.
And a huge thank you to eToro for supporting us in creating this video. If you are looking to trade cryptocurrencies, consider joining the millions who are already using the unique features offered by eToro, such as CopyTrader, which allows you to automatically replicate the moves of the best performing traders on the platform. For more information, visit etoro.com.
This is what happened this week in cryptocurrency. I’ll see you next week.
