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GMO Exchange Operator in Japan Promises to Improve Data Security

BitcoinNitish SinghApril 1, 20180

Following the huge cryptocurrency hack of Coincheck in Japan, the Japanese Financial Services Agency (FSA) led a series of on-site inspection of cryptocurrency exchanges to evaluate the security measures upheld by these companies. GMO Coin was one of the many crypto-exchanges who was sent an order to improve their business. In response, GMO Internet, the…

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Japan Lost Over $6.2 Million in Crypto Assets Last Year

BitcoinNitish SinghMarch 23, 20180

Japan’s National Police Agency (NPA) has just released reports that 2017 saw over $6.2 million loss in crypto assets either through fraud or theft. Do note; this report does not include the recent (late January 2018) massive Coincheck hack that resulted in $550 million loss in NEM tokens. Nikkei, a local news outlet made this…

Coincheck Cryptocurrency Hack Remains Unsolved

WalletsNitish SinghMarch 17, 20180

One of the main problems around cryptocurrency is that it makes money laundering much easier. What is more disturbing is that crypto-exchanges are fairly ill-equipped to combat these issues. The recent Coincheck hack highlights money laundering potential of the digital currency. When Coincheck was hacked earlier this year, over $500 million got stolen in NEM. It is…

The Japanese Bank Consortium to Release a Ripple Powered Mobile Payment App

RippleNitish SinghMarch 7, 20180

SBI Ripple Asia leads a 61-bank consortium in Japan which represents over 80% of all of the country’s banking assets. Together with Ripple, the consortium is set to release a domestic payment app, ‘MoneyTap’ that settles transactions instantly. This is a truly revolutionary set in the world of day-to-day domestic banking. Ripple’s core mission to…

Japan’s Banking Giant SBI will Delay Crypto Exchange Launch

BitcoinNitish SinghMarch 1, 20180

Japan is one of those few countries which has embraced cryptocurrency and is blooming with related companies and business. The Japanese banking giant SBI Group is yet to launch their cryptocurrency exchange which they have been teasing for quite some time now. Since October 2016, SBI has been in the talks of starting its cryptocurrency…

Japan, City-Based ICOs, Scared Banks and Their Effect on Ethereum

EthereumNitish SinghFebruary 28, 20180

ETH to USD exchanges rates is currently near $867.66. Furthermore, Ethereum trading volumes are relatively stable, which further implies that investors aren’t abandoning for fiat money. It is also worth noting that the Ethereum trading volumes are well dispersed across several countries which accounts for diversification- a good thing. And even though the current ETH…

White Hat Hackers Join Forces to Help Find Stolen Coincheck Funds

BitcoinNitish SinghFebruary 23, 20180

Last month, Coincheck, a Tokyo-based cryptocurrency trading firm lost $530 million worth of NEM coins to malicious hackers. Now the white hats are on board to help retrieve the stolen funds. No information regarding the hackers nor their identities have been found out, but the white hats might change the scenario. Shota Hamabe, a 34-year…

Japan: Zaif Exchange Reports a “Glitch” Caused a Temporary “Purchase” of $20 Trillion in BTC for 0 Yen

BitcoinNitish SinghFebruary 21, 20180

Japan, as we know, is one of the leading countries adopting the new cryptocurrency trend. And despite the enthusiasm, security measures are not that high to avoid malicious attacks or even systematic bugs. Just a few days back, we reported how Coincheck, a bitcoin wallet, and exchange service got hacked. And now the Zaif exchange…

Japan’s Government To Inspect 15 Crypto Exchanges Awaiting Certification

BitcoinNitish SinghFebruary 16, 20180

Japan is one of the leading country participating in cryptocurrency trade. The popularity of crypto is high, and it is common to see businesses accepting cryptocurrency as a payment method. However, recently, the hack at Coincheck has stirred the local market sentiments. This has prompted the government to take steps. They are planning to conduct…

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