Police Seize $15K Crypto Thief After He Mistakenly Disclosed Identity

Connecticut police caught a man who had stolen over $15,000 worth of digital currency in a mobile phone theft after he mistakenly sent an apology email to a detective heading the investigation. Back in April, a Connecticut resident fell victim to a cryptocurrency theft by New Jersey citizen Darren Carter, wherein the latter swiped the victim’s mobile phone and allegedly transferred $15,472 worth of crypto from their Coinbase account. Carter subsequently converted the funds to U.S. dollars that he transferred to his PayPal account, New Jersey-focused news outlet NJ.com reported…

Indian IT Giant Tech Mahindra to Launch Blockchain Finance Management

Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, partnered with American distributed ledger technology (DLT) firm Adjoint to launch a blockchain financial management and insurance solution. Telecommunications industry news outlet CommsMEA reported on Sept. 2 that the solution is the first of its kind. With this service, clients will reportedly be able to save $4 million for every $1 billion of financial risk management and banking relationships. Auditable data recording Per the report, users of the new system will be able to validate the business case with their…

South Korea’s Kakao May List Its Klay Token on Chinese Exchange

South Korean internet giant Kakao is reportedly planning to list its cryptocurrency Klay on a Chinese crypto exchange and one local exchange. Kakao might have trouble listing Klay in Korea According to a report by local news daily News1 Korea on Aug. 31, Kakao’s blockchain arm Ground X is in talks with two popular cryptocurrency exchanges for listing its native coin Klay. While News1 Korea does not specify the names of the exchanges, an official familiar with the internal situation at Ground X reportedly said that Kakao might have trouble…

Thai Cryptocurrency Exchange Bitcoin Co. Ltd. Closing Down Operations

Thailand’s leading cryptocurrency exchange Bitcoin Co. Ltd. (BX.in.th) is closing down all of its trading operations. The exchange announced its decision to discontinue trading on Sept. 2. The official website of the exchange states: “Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website in order to focus on other business opportunities.” Customers need to withdraw their funds before Nov. 1, 2019. The five-year-old exchange, which was regulated by the Thai Securities and Exchange Commission, will not seek to hold a Digital…

HSBC Completes First Blockchain Letter of Credit Transaction in Yuan

Banking and financial services giant HSBC has completed the first yuan-denominated letter of credit transaction on a blockchain using the Voltron trade finance platform. As Reuters reported on Sept. 2, HSBC conducted the first blockchain-based yuan-denominated letter of credit transaction deploying R3’s Corda-powered Voltron platform. In the cross-border  transaction, Hong Kong-based electronics manufacturer MTC Electronics exported a shipment of LCD products to its parent firm Shenzhen MTC. 24 hours instead of ten days The blockchain platform ostensibly enabled the parties to exchange electronic documents in 24 hours instead of the…

Silver and Gold Ruled the August Roost but How Did Bitcoin Fare?

Silver and gold are finally drawing some attention from market participants thanks to a stellar performance from precious metals in August. | Source: Shutterstock; Edited by CCN Silver and gold are finally drawing some attention from market participants thanks to a stellar performance from precious metals in August. After several years of sideways price action, commodity bulls may finally be ready to break out the champagne. According to German market commentator Holger Zschaepitz, silver outshined its big brother by an impressive 5% to record a solid 13% gain in the…

US Congress Urged to Regulate Crypto Sector Under Bank Secrecy Act

The Financial Integrity Network (FIN) — a Washington D.C.-based advisory firm — has urged the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA). Virtual asset service providers should be regulated under BSA In a copy of FIN testimony published ahead of a hearing on Sept. 3, FIN recommended that virtual asset service providers (VASPs) should be regulated based on the particular service or services that they provide with emphasis on promoting system-wide governance. FIN’s vice president for product development and services, David…

Liquid Crypto Exchange Unveils Digital Wallet Address for Gram Token Sale Proceeds

Japanese cryptocurrency exchange Liquid has revealed the digital wallet address holding the proceeds from the Gram token sale it conducted in July. In an Aug. 30 announcement, Liquid disclosed the public blockchain wallet address that now keeps all participating customer funds from Gram token sale. Liquid further stated that the funds will remain in cold storage until the release and delivery of the assets by Gram Asia. Gram is the yet-to-be-released native token for the Telegram Open Network (TON). According to statistics and analytics platform Etherscan, the wallet has $4,118,853.70…

After Slight Dip Earlier This Week, Bitcoin Breaks $10,000 Again

The Bitcoin (BTC) price has rallied over the past few days and has again crossed the $10,000 threshold. Bitcoin 7-day chart. Source: Coin360 On Aug. 28, Bitcoin dropped $600 in the course of a half-hour, sinking below the $10,000 mark before slumping to a weekly low of $9,362 on Aug. 29. The price has slowly recovered since then and is currently trading at $10,099, up 5.21% on the day, according to data from Coin360. Earlier this week, cryptocurrency investor and Galaxy Digital CEO and founder Michael Novogratz said that Bitcoin…