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Russia’s Not Buying Bitcoin, Dx.Exchange’s Shady Past, and Ethereum’s Hard Fork That Wasn’t: This Week in Crypto



bitcoin news this week in crypto
From pretend information about Russia purchasing Bitcoin to Ethereum’s laborious fork that wasn’t, CCN breaks down the final week in crypto information. | Source: Shutterstock

By This week in crypto noticed a number of fascinating traits as regard exchanges, go out scams, and a minimum of one failed ICO-funded corporate within the type of Giga Watt.

Crypto Media Clings to Story of Russian Government Buying Bitcoin, CCN Asks for Proof

CCN began the week off via debunking a mythical impending “$10 billion Bitcoin purchase” at the a part of the Russian govt. P. H. Madore gained backlash for the item, which indexed probably the most websites which sensationalized the doubtful claims of a little-known Russian economist.

A couple of days later, CCN doubled down on our positivity that Russia has made no professional announcement as regards buying a large block of Bitcoin.

One factor stays transparent: the Russian govt has no longer formally introduced plans to shop for Bitcoin as a hedge in opposition to the rest in any respect. As a ways as we all know, Bitcoin remains to be going throughout the regulatory procedure within the former communist nation. A Russian professional did talk to the problem of Bitcoin over-regulation this week, however.

Ethereum Constantinople Fork Delayed at Last Minute


Due to a last-minute reporting of a safety flaw with EIP-1283, Ethereum builders decided to postpone the Constantinople upgrade. By Friday, a 6-week roadmap was announced. It stays unclear why safety company Chainsecurity waited till this week to expose its findings. The presumable rationalization is this was once the earliest they had been in a position to substantiate the computer virus, which was once no longer discovered to be reside in any good contracts however would have allowed for “reentrancy attacks.”

DX.Exchange Exposed As Pivot Effort of Binary Options Scammers

CCN’s P. H. Madore and Samantha Chang did some hard-nosed reporting at the sensationally-reported DX.change, which has had rumblings of withdrawal/deposit problems. CCN was once in a position to substantiate thru govt information one thing the corporate denied till the final minute: its dating to SpotOption, a Binary Options rip-off instrument supplier that went into chapter 11 when Israeli banned the monetary product wholesale.

Runescape Player Gets Bitcoin Donation Worth $70,000

A Runescape participant gained over $70,000 in one donation whilst streaming on Twitch. As CCN’s Vignesh Selvasundar writes:

Initially, Sick Nerd gained a donation of four BTC. He gained extra BTC right through his move. While the gamer in the beginning concept that somebody was once messing with him, he gained extra right through the consultation. He gained a complete of 20.49 BTC (approx. $73,000 on the time) via the tip of the day.

Crypto Mining Company Finally Goes Out of Business

CCN reported at the ultimate shuttering of Giga Watt’s hosting farms. The corporate had filed for chapter final yr however nonetheless had some operations going. Giga Watt funded with an ICO in 2017 to a top level of passion. The WTT token will now if truth be told don’t have any price, even supposing it nonetheless seems to be retaining some on markets for inexplicable causes.

BitMEX Ends Service to Customers in US and Quebec

BitMEX has decided to wind down its operations in the United States and the Canadian province of Quebec. CCN’s Alan Wass writes:

BitMex is these days within the means of shutting down US buying and selling accounts and likewise the ones in Quebec within the face of present crackdowns on unlicensed crypto exchanges. The standard buying and selling platform is these days primarily based out of Hong Kong and is understood for inhabiting the most costly workplace assets within the middle of the Asian monetary epicenter.

Cryptopia Gets Hacked

Cryptopia change suffered an exploit which value it “significant losses.” As Habiba Tahir writes :

Finally, Cryptopia tweeted an professional commentary confirming the hack as a “security breach.” The crypto change claimed that it had suffered “significant losses” and were looking to take care of the location. In the process a couple of hours, Cryptopia contacted New Zealand police and the High Tech Crime Consortium (HTCC) to analyze the incident.

Later within the week, Binance iced up the Cryptopia hacker’s assets and NZ police gave some main points on the investigation.

Exchange Giant OKCoin Lists Tron

Tron discovered itself on a brand new change, formally starting on Thursday. CCN had the chance to talk to OKCoin CEO Tim Byun in regards to the checklist. Byun was once quoted as saying:

We don’t have an ATS or a broker-dealer license, so we can’t facilitate the buying and selling of securities. We made certain that TRX is used nowadays as a software. That there’s a use case, that it passes the Howey Test, roughly laid out via the prior rulings of an SEC case, that’s the most efficient we have now.

The Tron group additionally reportedly inspired OKCoin.

Blockchain Regulatory Certainty Act

Friday noticed just right information for crypto, amidst a seamless downturn out there values of all cryptocurrencies. The “Blockchain Regulatory Certainty Act” was once reintroduced into the United States Congress. As CCN writer David Hundeyin writes:

Tagged the ‘Blockchain Regulatory Certainty Act’, it was once first of all offered at the flooring of the home in September 2018 along two different cryptocurrency-related legislative specifically a House answer to specific give a boost to for cryptocurrency and blockchain era, and the Safe Harbor for Taxpayers with Forked Assets Act of 2018, objectives to handle confusion surrounding record positive factors made on account of cryptocurrency forks to the Internal Revenue Service (IRS).

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