Zaif Crypto Exchange Reveals Takeover In New Hack Refund Plan

Tech Bureau, the firm behind the Japanese crypto exchange Zaif, has revealed a drastic new plan to compensate users after a major hack last month. Tech Bureau said in a release Wednesday that it had signed an agreement with Fisco – a publicly listed investment firm in Japan – to transfer in full the Zaif business to Fisco’s existing cryptocurrency exchange. In return, the new owner will take on the responsibility for compensating users who lost funds in the breach. The two stated this approach would avoid further risks for Fisco and users…

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Zaif Exchange Reveals Refund Plan for $60 Million Crypto Hack

Tech Bureau, the firm behind the Japanese crypto exchange Zaif, has revealed a refund plan to compensate users after a $60 million hack that happened on the platform last month. Tech Bureau said on Wednesday in a release that it signed an agreement with Fisco – a publicly listed investment firm in Japan – to transfer the business of Zaif to Fisco Cryptocurrency Exchange. The two stated this approach would avoid further risks for Fisco and users on the platform. Zaif, currently one of the 16 licensed crypto exchanges in Japan,…

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Bitcoin Cash Price Analysis: BCH/USD Nosedived Below $475

Key Points Bitcoin cash price failed to bounce back and broke the $500 support against the US Dollar. There was a break below a declining channel with support at $495 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair declined sharply and broke the $475 and $460 support levels. Bitcoin cash price nosedived below key supports against the US Dollar. BCH/USD is currently under pressure as it turned sell on rallies near $470-475. Bitcoin Cash Price Analysis Yesterday, we saw how bitcoin cash price failed…

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Bitcoin (BTC) Price Watch: Bulls on Defense After Breakdown

Bitcoin Price Key Highlights Bitcoin price broke below its short-term consolidation to drop to the longer-term triangle bottom. A downside break from this area could lead to a drop to the lows around $5,800 or a continuation of the slide. Bulls still seem to be defending this floor so another bounce could be due, perhaps leading to another breakout attempt. Bitcoin price tumbled below a short-term consolidation pattern but buyers are defending the floor to signal that a bounce is possible. Technical Indicators Signals The 100 SMA is still above…

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Crypto Markets See Sharp Drop-Off on the Day, Bitcoin Dips Below $6,300

Wednesday, Oct. 10: Crypto markets have suffered a sharp decline within an hour, with Bitcoin (BTC) plunging below the $6,300 threshold, and the top altcoin Ethereum (ETH) nearly touching $200. According to CoinMarketCap, virtually all the top 100 cryptocurrencies by market cap have suffered major declines at press time, with 19 out of the 20 top coins by market cap seeing significant losses over the past 24 hours. Market visualization from Coin360 After surging above $6,600 on Oct. 8, Bitcoin dipped below $6,300 today. The major cryptocurrency has dropped to…

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Crypto Exchange YoBit Starts Pump Scheme on Random Coins

Cryptocurrency exchange YoBit is going to perform a pump scheme on random coins, according to an Oct. 10 tweet. A pump and dump scheme is a form of fraud that attempts to artificially boost the price of an asset through misleading or false recommendations. YoBit Pump in 22 hrs: https://t.co/RIbW7OhKzMWe will buy one random coin for 1 btc every 1-2 mins 10 times (total buy amount – 10 btc). — Yobit.Net (@YobitExchange) October 10, 2018 In addition to announcing the pump scheme in a tweet, the exchange posted a countdown…

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Successful ViaBTC’s ICO is Very Bullish for BCH

ViaBTC demonstration that it’s possible for startups to raise funds on the Bitcoin Cash blockchain is very bullish for BCH investors. Complementing this is Roger Ver’s solid plan of setting up a “high liquid exchange with BCH as base”. This and other fundamental development means our previous Bitcoin Cash trade plan is valid. In that case we recommend risk-off, aggressive traders to load up at spot and trade in the direction of Sep 27 with stops just below Aug 14 lows at $470. Latest Bitcoin Cash News Roger Ver or…

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EOS, Tron, IOTA Rejection of Bears Positive for Altcoins

A correction is underway in IOTA and TRX price charts following bull break out above important resistance levels a few days ago. Still, we retain a bullish outlook recommending buyers to buy on dips as long as prices are trading above key support levels. This is even applicable in Tron following their release of a developer suite. In the mean time, recent comments from Charlie have been viewed as negative deflating investor confidence. EOS Price Analysis The stability in lower time frames justifies the reasons why EOS is up seven…

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Annual List of China’s Richest Includes Crypto Entrepreneurs

The annual Hurun China Rich List, a catalogue of individuals in the country with a net worth over 2 billion yuan ($209 million), has listed several crypto entrepreneurs among China’s financial elite, according to a release published Oct. 10. The Hurun Research Institute released the 2018 Hurun China Rich List of the richest individuals in the country, with at least 13 entrepreneurs whose business is related to cryptocurrency mining and trading. The ranking includes such industry players as Micree Zhan Ketuan, co-founder of computer chip manufacturer of and software firm…

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Bitcoin Whales Are Not Responsible for Volatility

A new study by blockchain research firm Chainalysis shows that Bitcoin (BTC) whales are not responsible for price volatility. The study examined the 32 largest BTC wallets, which reportedly represent 1 million BTC, or around $6.3 billion. BTC whales are individuals or entities that own large amount of the cryptocurrency and are said to exert influence on the market volatility. However, Chainalysis’ data reveals that BTC whales are “a diverse group, and only about a third of them are active traders. And while these trading whales certainly have the capability…

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