The process of recovering stolen Bitcoin (BTC) from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing, rug pulls…
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The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes. DAC8 was proposed in December and approved on May…
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Amid the rising popularity of hardware cryptocurrency wallets, the Russian cybersecurity firm Kaspersky has reminded users about the importance of using authentic crypto devices. Kaspersky’s cyber incident expert Stanislav Golovanov on May 10 reported on an issue with fake hardware wallets impersonating major wallet firm Trezor. According to the blog post, the fake wallet allowed…
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The tide might have gone out on Bitcoin Ordinals, but there’s a strong undercurrent of investments in Bitcoin-only companies. River, a U.S.-based Bitcoin (BTC) technology and financial services company is the latest to make a splash. River announced a $35 million Series B equity funding round despite the bear market. Kingsway Capital led the round, with notable…
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The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum. The core developers and miners who signed off on the network’s Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems…
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The Democratic Party in the United States has expressed its intent to back the Securities and Exchange Commission’s total authority over crypto in a memo that circulated among committee members prior to a hearing. The documents were shared on social media, causing backlash from members of the crypto community. On May 10, the documents were…
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Bitcoin (BTC) surfed $27,000 on May 16 as traders stayed buoyant about upside continuation. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView $24,000 BTC price still in play, says trader Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still focusing on the $27,000 mark, having dipped to $26,870 after the daily close. Still lacking…
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Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan. On May 12, BlockFi outlined its Chapter 11 reorganization plan in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate…
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European Union Council members have given the final green light on the highly-anticipated Markets in Crypto-Assets (MiCA) legislation following a voting process on May 16. 27 Finance ministers representing the EU’s member states voted in favor of passing the MiCA bill as well as amendments to a number of regulations and directives relating to the new…
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The 2022 crypto bank runs — caused by the failure of multiple ecosystem giants — have had a lasting impact on the crypto industry. A new research report from the Federal Reserve Bank of Chicago (FRBC) has identified several key factors and catalysts that accelerated last year’s crypto crisis. The report identified that withdrawals by crypto whales…
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