SupremeCourt will now hear the case of cryptocurrency on February 26th
Dib's Digibank blocked credit on some accounts due to fiat-to-crypto transactions
We can now trace the stolen Bitcoins, according to the researchers
In the Golden Globe winning film for the best drama series, Mr Robot, Season 3, the protagonist Elliot Alderson once said:
The encryption of Evil Corp's data was intended to strengthen us. Instead, he left us powerless, frightening us even more into submission.
With Bitcoin dipped below the threshold where it is no longer efficient to extract in many countries of the world and millions of Bitcoins are lost or stolen, Alderson's statement also reflects the real scenario of real virtual currency.
Despite being presented as the safest and safest form of alternative currency, Bitcoin repeatedly failed to provide the same. Only in 2018, according to Credit Karma, Americans alone lost $ 1.7 billion of Bitcoins.
According to reports, while $ 1.1 billion of cryptocurrencies were stolen in the first half of 2018, out of 17,489,338 Bitcoins drawn so far, almost 6 Mn of Bitcoin are lost or stolen.
Can we trace the stolen Bitcoin?
Researchers Mansoor Ahmed, Ilia Shumailov and Ross Anderson in their research article "Tendrils of Crime: Visualization of the Diffusion of Stolen Bitcoin" recently published at Cornell University, described ways to display relevant data on a blockchain. Based on the visualization, they developed a graphical model to track the stolen coins and then implement them using a variety of visualization techniques.
What's in the crypt this week? Let's have a look!
supremeCourt to hear the case on February 26th
In the audition of the current cryptocurrency in the Supreme Court, the Court has now scheduled the next hearing on 26 February.
The lawyer Rohan Dwaipayan Bhowmick, one of the first petitioners in the case said Inc42, that after listening to their request, the cryptographic case is now listed in S.No. 1, at the top of the list, February 26, 2019.
Previously, in a counter-response to a court of the Supreme Court of the two judges who had heard a series of cases on the legitimacy of cryptocurrency in India, the finance ministry had defended the circular of the Reserve Bank of India (RBI) prohibiting banks from extend any service to the entity crypt.
After Kotak, ICICI, Digibank blocks accounts due to cryptographic transactions
While the Kotak Mahindra and ICICI banks have already frozen certain accounts due to the commitment of account holders in cryptographic transactions, it is now Dib's digibank that in a notification informed some of its users that it was forced to insert a block of credit in your account as fiat-to-crypto transactions are not allowed in India.
🚧 After the Kotak Mahindra Bank in India, Digibank also starts to freeze customers' bank accounts to deal with crypto! pic.twitter.com/KtBj0yH3IV
– IndiaBits (@ indiabits21) January 15, 2019
Last year, Kotak Bank had sent a notification to its users stating that,
Kotak Mahindra Bank does not encourage its customers to use their accounts maintained with us or who have used credit cards to make transactions involving any type of crypto / virtualcurrencies and therefore we request that you refrain from transactions involving Bitcoin transactions or any type of encryption / virtual currency from your account / credit card mentioned above.
In line with the instructions issued by the RBI, we would also like to inform you that if the transactions relating to any type of VC are tested on your Kotak credit card, the Bank will be forced to block your credit card without further instructions.
WazirX obtained 200 Bitcoin transactions in one day
Mumbai-based cryptanal exchange WazirX recently reached 200 BTCs in a single-day trading volume. The company claimed that it was the highest 24-hour volume to be reached by an Indian stock exchange in recent times.
Commenting on the record numbers, Nischal Shetty, co-founder and CEO of WazirX said: "We were pleasantly surprised to find that a one day transaction on WazirX exceeded 200 BTC. I sincerely hope that government officials pay attention to what the youth of the nation wants and will introduce positive regulations, favoring the growth of the crypt in India ".
Tron (TRX) now listed on OKCoin
TRON (TRX) was one of the most active cryptocurrency projects on the market recently announcing a series of partnerships throughout 2018 – such as the recent agreements with NeoWorld, a world of multiplayer online virtual reality that runs on the blockchain, and in China Giant of Baidu Internet
OKCoin, based in the United States, has now listed Tron on its platform; customers can buy Tron by depositing US dollars or Argentine pesos and can also exchange TRX against USD, BTC and ETH.
With a current price of $ 0.026 and a total market capitalization of $ 1.707 billion in USD, the recent wave of TRX has allowed it to crack the Top 10 among all crypto tokens by market capitalization, according to CoinMarketCap. The currency also claims 99,249 holders at the time of writing this document.
In other news, Grayscale Investments, the company behind the Bitcoin Investment Trust, announced on January 17 that it will offer a fund to allow professional investors to get exposure to Stellar and its digital currency known as Lumens, reported Fortune.