July 2022 / 86 posts found
Intel starts shipping its Bitcoin mining rig as cryptocurrencies crash
In a nutshell: Intel’s accelerated computing group has started shipping its second-gen Blockscale ASIC for SHA-256 cryptocurrencies like Bitcoin. The launch is months ahead of schedule, but still too late to capitalize on the most recent cryptocurrency craze. Intel announced that it was developing Blockscale ASICs in January when Bitcoin was worth twice as much as it is now and hardware was desperately in demand. Its second-gen is arriving after the market has satiated its need, which is usually when Intel starts shipping its hardware (I’m looking at you, Arc GPUs). Despite that, the Blockscale ASIC (application-specific integrated circuit) is […]
1Feex Wallet Owner Told to Identify Themselves or Lose Contents
Cryptocurrency Reading Time: 4 minutes The owner of the Bitcoin wallet starting 1Feex has been urged to prove their ownership or risk losing some of the contents Investment company Tulip Trading Limited has claimed it owns the wallet and had access to it stolen in 2020 The end result could mark the first time a blockchain has been intentionally compromised by developers Tulip Trading Limited, a Seychelles-based investment firm headed by a man known for lying in court during a trial, in 2019 has challenged the owners of a famous Bitcoin address to identify themselves or they will claim ownership […]
CFTC Handles its Biggest Bitcoin-Related Fraud Scheme Worth $1.7 Billion
The Commodity Futures Trading Commission (CFTC), a U.S. federal regulatory agency, charged a South African citizen and a global foreign currency commodity pool with alleged fraud and registration violations worth nearly $2 billion in BTC. Fraudulent Scheme Raked in $1.7 Billion in Bitcoin According to a press release on Thursday (June 30, 2022), the CFTC issued a civil enforcement action against Cornelius Johannes Steynberg and Mirror Trading International Proprietary Limited (MTI) before the U.S. District Court in the Western District of Texas. The American regulator alleges that Steynberg, who was in control of MTI, was involved in an international fraudulent […]
Bitcoin just had its worst month on record
Bitcoin Bitcoin just finished its worst month on record, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second-biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market, in particular, has been rocked in recent weeks as major companies face solvency crises. In May, the popular U.S. dollar-pegged stablecoin project UST — and its sister token luna — imploded, tallying a $60 billion collective loss. Then in early June, lending firm Celsius, which promised […]
U.S. CFTC charges South African company with record $1.7 bln bitcoin fraud
Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com WASHINGTON, June 30 (Reuters) – The U.S. commodities regulator announced on Thursday it had filed civil charges against a South African man and his company for operating a fradulent commodity pool worth over $1.7 billion in bitcoin. The Commodity Futures Trading Commission (CFTC) said the fraud scheme, which saw the firm solicit bitcoin online from thousands of people to purportedly operate a commodity pool, was the largest it had ever pursued […]
