Cryptocurrency Industry Struggles to Buy Insurance, Hindering Growth Goals

Article 0 Comments Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting the buy-in from insurers would mark an […]

Trump Administration Forms Financial Frauds Task Force

Article 0 Comments In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins. The inclusion of virtual tokens — along with traditional crimes like money laundering and […]

Timeline: More Than $1 Billion in Cryptocurrency Thefts Since September 2012

Article 0 Comments Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com, suffered a hack that saw about 35 billion won ($32 million) worth of coins stolen. The South Korean exchange became the nation’s second venue […]

Hackers Steal $32M from S. Korean Cryptocurrency Exchange Bithumb

Article 0 Comments South Korean cryptocurrency exchange Bithumb said 35 billion won ($31.5 million) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital asset. Bithumb said in a notice on […]

Custody Protection, Regulation, Insurance Seen Paving Way for Shift to Cryptocurrencies

Article 0 Comments Hedge fund manager Kyle Samani embraces his job making multimillion-dollar bets on the wild market for cryptocurrencies, but he’s long contended with a headache: Ensuring his holdings aren’t stolen. Samani, a managing partner at Multicoin Capital, hopes to offload that task soon. He’s among a small group […]

UK Government, Regulators to Examine Potential Risks from Cryptocurrencies

Article 0 Comments Britain’s government and regulators will look in detail at the potential risks from cryptocurrencies like bitcoin, British junior finance minister John Glen said on Monday. Glen said there had been an “explosion of growth” in crypto assets like bitcoin, which might pose risks even though the underlying […]