Crypto News Today #3 : Official: Japanese Cryptocurrency Exchange Hacked, $530 Million NEM Missing

In this daily post you will find the latest news about cryptocurrency and blockchain technology. Good read !

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Official: Japanese Cryptocurrency Exchange Hacked, $530 Million NEM Missing

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According to major Japanese cryptocurrency exchange CoinCheck executives, more than $530 million worth of NEM has been stolen from the trading platform.

MineCC, a Japan-based cryptocurrency analyst, reported that during an official public conference, CoinCheck executives admitted that all funds stored in its hot wallet were stolen by an unknown group of hackers.

Unlike cold wallets, which are secure and kept offline, hot wallets can be accessed if servers are breached by hackers. As such, the majority of large-scale cryptocurrency exchange in the industry only store a small portion of funds in hot wallets and the rest in cold wallets, securely kept offline and out of reach from hackers.
Read more on : ccn

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Russian Finance Ministry Publishes Cryptocurrency Draft Law, Ires Central Bank

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Russia’s Ministry of Finance has published a draft of the long-awaited law regulating token offerings and the trade of cryptocurrencies.

On January 25, Russia's Ministry of Finance published the text of a draft law that would regulate the issuance, trade, and storage of cryptocurrencies, as well as placing certain legal requirements on parties that hold token offerings, or ICOs.

Originally requested by President Vladimir Putin in October 2017, the bill would allow holders of virtual currencies to trade them for other digital assets, rubles, foreign currencies, and "other property," but only through compliant exchanges.
Read more on : ethnews

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Wall Street Vets Raise $50 Million for Crypto Fund of Funds

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Sitting at his desk at Credit Suisse, Sina Nader watched the bottom fall out of the global economy.

As a junior associate helping manage a $100 million portfolio of equities, he had a first-hand view of the 2007-2008 collapse from the Swiss bank's Los Angeles offices and recalls frantically taking screenshots of the price as Lehman Brothers' stock collapsed to "essentially zero."

"My first thought was, 'Holy shit, some traders just took out Lehman,'" Nader told CoinDesk. "My next thought was, 'Holy shit, if the fifth-largest investment bank in America can be taken out like this, is the banking system actually safe?'"

Likening it to the feeling kids gets when they learn Santa Claus isn't real, Nader says that the day changed him forever – and eventually sent him into the wild world of cryptocurrency.
Read more on : coindesk

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Here’s How Monero (XMR) Could Soon Be At $1,000

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Back at the start of the decade, say twelve months or so subsequent to the introduction of bitcoin, the coin was taking off based on the fact that users could transact securely and anonymously with one another on the underground marketplaces (we’re looking at you, Silk Road). Fast forward to 2018 and things are completely different.

When you talk about privacy and anonymity in the cryptocurrency space today, bitcoin doesn’t even factor into the conversation. The necessity to verify identification across practically all of the major exchanges globally has all but negated the anonymity side of transacting in bitcoin and while it’s still theoretically possible through offline wallets and peer to peer transactions, it’s inconvenient at best.

In line with this, a wave of cryptocurrencies has popped up promising to overcome the privacy issues associated with bitcoin and, in turn, to offer users a way to transact anonymously and securely once again – be that across an underground marketplace or otherwise.
Read more on : globalcoinreport

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This Very Near Term Catalyst Could Send TRON (TRX) Soaring

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Back at the start of December last year, TRON (TRX) was trading for around one-fifth of a cent. By January 5, 2018, the coin had risen to $0.25, gaining more than12,400% I a matter of weeks and securing its position on every crypto watcher’s radar heading into the new year.

Since then, of course, the wider cryptocurrency space has suffered a steep correction and Tron is no exception. Indeed, given the coin’s incredible run heading into the close of last year, its correction has been arguably a lot more severe than was the case for many of its altcoin counterparts.

Right now, Tron is priced at $0.06 a piece and commands a market cap of a little over $4 billion. Daily volume is down (to somewhere around $315 million, which is nothing to scoff at, but it’s a fraction of early January’s $4 billion twenty-four-hour volume) and sentiment seems decidedly weak.
Read more on : globalcoinreport

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European Central Bank ‘Expects’ Crypto Regulation Focus At G20 In March

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The European Central Bank (ECB) says it “expects” cryptocurrency regulation to be high on the agenda at the G20 Summit in Buenos Aires this March.

In comments at an event during the ongoing World Economic Forum 2018 in Davos, ECB board member Benoit Coeure added further weight to France’s economy minister Brune Le Maire’s vow to make Bitcoin a topic at the political forum.

“The international community is... preparing an answer to that and I would expect, for instance, the G20 discussion in Buenos Aires in March to focus very much on these issues,” Coeure said quoted by Reuters.
Read more on : cointelegraph

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice.
Please conduct your own thorough research before investing in any cryptocurrency.