South Korea’s Incheon City has recently made headlines by confiscating $375,000 worth of cryptoassets from individuals who attempted to conceal their earnings through token wallets. The city managed to collect this amount from 298 residents, mainly in the form of Bitcoin (BTC). This move by the local tax agency is part of a broader crackdown
Blockchain
In the ever-evolving world of cryptocurrency, Bitget, a cryptocurrency derivatives exchange based in Seychelles, has made waves with its remarkable growth in both its employee and user base in 2023. Bucking the trend observed in other crypto firms that faced employment cuts during the recent market downturn, Bitget expanded its team from 1,100 to 1,500
The Ethereum Foundation recently made an exciting announcement: Devcon 7, the Ethereum developer conference, will be hosted in Bangkok, Thailand, from November 12 to 15, 2024. This decision reflects a significant expansion of the event’s vision, which now aims to embrace the entire Southeast Asia region as the stage for this community gathering. The Ethereum
The European Banking Authority (EBA) is taking proactive steps to assess the potential impact of strains in non-bank financial institutions (NBFIs), including those in the cryptocurrency sector, on traditional banks. In light of concerns over contagion and the need to comprehensively understand potential risks and linkages within the broader financial system, the EBA is incorporating
Crypto phishing scams have become a rampant issue in recent years, with bad actors continuously finding new ways to exploit unsuspecting users. According to a report by Scam Sniffers, these scams resulted in the loss of nearly $300 million from more than 320,000 victims in 2023. The alarming figures indicate a significant increase in both
Kyrgyzstan, a Central Asian country known for its picturesque natural environment, holds great potential for the growth of its crypto mining industry. The country boasts a significant amount of water resources, which is a valuable asset for miners. Kyrgyzstan’s government recognizes the importance of its water-rich environment and considers it a unique advantage. With more
In a shocking turn of events, just days before the start of the new year, hackers successfully targeted Orbit Bridge, the cross-chain bridging service of Orbit Chain. The attack resulted in a staggering loss of $82 million for the project. Upon discovering the breach, Orbit Chain swiftly suspended the cross-chain bridge contract and immediately began
The South Korean cryptocurrency exchange Bithumb has announced an ambitious campaign to locate the owners of $206 million worth of dormant coins. Amongst these coins are popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP. Bithumb’s initiative aims to remind users who possess these seizable crypto assets that their coins remain on the exchange’s
Former Airbnb CEO Brian Chesky, also known as BC, has been confronted with a travel ban once again as his court hearing for criminal charges draws near in late February. On December 29, in the U.S. District Court for the Western District of Washington in Seattle, Judge Richard Jones issued a confidential order denying Chesky’s
Kyrgyzstan has emerged as a rising player in the cryptocurrency mining sector, with the government expecting to generate over $1 million in tax revenue from the industry this year. The nation’s finance ministry recently reported that it had already collected $900,000 worth of taxes from crypto miners in the first 11 months of 2023, indicating
