Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud

There are two primary reasons why storing your private crypto keys in the cloud is a bad idea. First, your cloud provider represents a centralized honeypot that could experience a security breach, allowing cyber criminals to access your data. For example, in August 2018, a fourth man was jailed in the U.S. for hacking into private Apple iCloud accounts and leaking nude photos of Jennifer Lawrence, Kirsten Dunst, Mary Elizabeth Winstead and others. So it does happen. And it will probably happen again in the future. The second and more…

Bitmain Unveils Its Latest Energy-Efficient Mining Chip for Bitcoin

China-based mining giant Bitmain has announced a new mining rig that uses less power. The hardware mining manufacturer has launched a 7nm application-specific integrated circuit (ASIC) processor dubbed the BM1397. Beyond energy efficiency, the new mining processor promises to achieve faster performance for mining cryptocurrencies that use the SHA256 algorithm for their proof of work (PoW), including Bitcoin and its hard forks. Like the BM1391 chip that came before it, the BM1397 will be powered by the advanced semiconductor manufacturing technology called the 7nm FinFET process, integrating more than a…

FBI Outline Key Features of Scam ICOs, Warns Investors to Be Vigilant

The United States Federal Bureau of Investigation (FBI) has outlined what it believes to be the consistent threads running through fraudulent initial coin offering (ICO) schemes. The Bureau’s perspective was shared in an interview with Netherlands-based financial news site the Paypers on Feb. 19. According to the FBI, the key strategies of scam offerings include misrepresentations of their directors’ professional experience, an engineered false impression of how much traction the ICO has garnered in the industry, and unrealistic promises of prospective returns on tokens: “Like any investment product, rates of…

India Targets Cryptocurrency Crime аs Part оf Cyber Security Offensive

Cryptocurrency crime forms one focus of a dedicated cybercrime lab launched by Indian authorities this week, Indian daily news outlet The Hindu reported on Feb. 19. As part of efforts to step up the fight against internet-based adversaries, India’s Union Home Minister Rajnath Singh inaugurated the cyber forensic lab and Cyber Protection Awareness and Detection Centre (CyPAD), which will be operated by police in Delhi. Within the lab, there will be a special unit focused on cryptocurrency, following years of problems involving scammers using the emerging phenomenon to commit crime.…

What is Driving The Rally and How Long Will it Last?

In the past 3 weeks, the valuation of the crypto market has increased by more than $22 billion from $111 billion to $123 billion. Source: Coinmarketcap.com There is no shortage of technical charts, indicators, analysts and observers trying to predict where crypto markets and Bitcoin will go next. They are far more volatile than traditional stock or forex markets so many of these indicators may not be applicable in the same way. A lot is just guesswork so a combination of fundamentals and technicals may give us a better idea…

is Crypto Ready For Trend Reversal After Massive Gains?

In the last 24 hours, the valuation of the crypto market increased by $8 billion as the Bitcoin price neared the crucial $4,000 resistance level. Bitcoin price is nearing $4,000 in a bull-run rarely seen in recent months. Source: TradingView Major crypto assets in the likes of EOS, Ethereum, and Bitcoin Cash recorded gains in the range of 10 to 30 percent. Most cryptocurrencies have started to see record high volumes across leading cryptocurrency exchanges, demonstrating an increase in demand for digital assets. What is Causing the Rally and Can…

Japan’s Number Two Bank by Assets Completes R3 Blockchain-Based Trade Finance Trial

Japan’s second-largest bank by assets, Sumitomo Mitsui Banking Corporation (SMBC), has completed a proof-of-concept (PoC) using blockchain consortium R3’s Marco Polo trade finance platform. A press release confirmed the PoC completion on Feb. 18. SMBC, which is the only Japanese bank participating in Marco Polo, said it had partnered with Japanese multinational Mitsui & Co. to enhance efficiency in trade processes. “[The] PoC was conducted between SMBC and Mitsui & Co. which aims to improve productivity in its trade operations, by testing modules such as Receivable Finance and Payment Commitment…

Bitmain IPO Document Reportedly Reveals $500 Million Q3 Losses

Bitcoin (BTC) mining giant Bitmain could have made losses of around $500 million in Q3 last year, industry magazine CoinDesk reported on Feb. 19, citing a company document. Bitmain, which is currently attempting to launch an initial public offering (IPO) under the auspices of the Hong Kong Stock Exchange (HKEx), submitted a report into its earnings in line with listing requirements. According to the publication, that report indicated that for 2018 as a whole, excluding Q4, revenue was $3 billion and profits $500 million. This contrasts with previous figures for…

Bitcoin Price Watch: Chances of Much Larger BTC Bullish Breakout

Bitcoin price surged and broke the $3,720 and $3,880 resistance levels against the US Dollar. The price traded close to the $4,000 resistance level and a new weekly high was formed at $3,955. There is a connecting bullish trend line formed with support at $3,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair corrected lower, but dips remain well supported above $3,800 and $3,720. Bitcoin price rallied above the key $3,800 resistance against the US Dollar. BTC could move into a medium term uptrend…

Crypto Market Adds $10B: Litecoin (LTC), Bitcoin Cash, Tron (TRX), XLM Price Analysis

The total crypto market cap added more than $10.0B recently and broke the $130.0B resistance. Litecoin (LTC) price gained momentum and broke the $45 and $47 resistance levels. Bitcoin cash price rallied close to 15% and tested the $150 resistance area. Tron (TRX) price managed to climb back above the $0.0250 resistance zone. Stellar (XLM) price is slowly correcting higher towards the $0.0880 and $0.0920 levels. The crypto market extended gains, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Besides, litecoin, ripple, bitcoin cash, tron (TRX), stellar (XLM) and…