Possible $ 50 million hack of the UpBit exchange
During this morning, an abnormal large transfer of ETH from the UpBit exchange signals the possibility of a $ 50 million hack. At 6:30 AM in Romania, the Whalealert monitoring system announced on Twitter that 342,000 ETH have been moved from the UpBit account. 30 minutes later, the exchange suspended withdrawals and deposits to verify the situation.
UpBit has transferred all existing funds into offline portfolios and has announced that it will cover losses of approximately $ 50 million. Also, the Korean supervisory authority KISA has been involved in investigating the possible hack.
According to the announcement on the official website, UpBit will maintain the suspension for about 2 weeks.
Ghana is planning to launch digital currency in the near future
The Governor of the Central Bank of Ghana announced that the institution is holding talks with “key stakeholders” to explore a digital currency pilot project “with the possibility of issuing an e-cede in the near future. “
The effort aims to complement the growth of electronic payment systems in Ghana, such as mobile payments. The volume of mobile phone transactions increased to 1.4 billion last year, compared with 982 million in 2017. Addison commented:
“The digital age offers enormous potential for the financial sector to redirect itself to meet the needs and demands of consumers and businesses for financial services.”
The SBI conglomerate invests in Securitize
The Japanese financial services conglomerate SBI Holdings has invested a seven-figure amount in Securitize. A service provider for issuing digital securities.
The investment comes just two months after Securitize announced it had raised $ 14 million from Santander Bank and MUFG.
Securitize did not disclose the exact amount invested by SBI, but announced that it would use the funds to open a new office in Japan.
In a statement, SBI Holdings CEO said his company “strongly believes in the future of digital securities”, citing Securitize as one of the “major players in the industry”. The Japanese conglomerate has previously collaborated with a number of other blockchain companies, including Ripple and the R3 consortium.
The IRS has the right to investigate American cryptocurrency transactions
A Washington judge has ruled that the IRS has the right to investigate cryptocurrency transactions conducted by US citizens. The decision was taken in a lawsuit filed by William Zietzke against the tax and tax agency. Zietzke submitted an amendment to his 2016 income tax return after he realized that he was wrong in calculating the taxes he had to pay. Initially, he reported a capital gain of $ 104,482, obtained from two transactions with bitcoin.
Subsequently, he realized that the transactions did not take place in 2016. He submitted an amended statement showing a capital gain of only $ 410 and asked for the refund of the taxes he paid. As a result, the IRS began investigating its activities with cryptocurrencies, including by requesting data from Bitstamp exchanges.
Zietzke argued that the investigation violates his right to confidentiality of financial transactions. The judge ruled that the IRS has the authority to conduct the investigations, but requested that they be restricted to 2016.
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