Bitmain Sues Anonymous Hacker Over $5.5 Million Theft

Chinese mining giant Bitmain is suing an anonymous hacker that allegedly stole $5.5 million in cryptocurrency last April from the company’s account on the digital exchange Binance. The hacker’s identity is still unknown, and he’s described only as “John Doe” in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the hacker managed to take over the company’s Binance account, then use bitcoin stored in the account…

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Ripple Files to Move Securities Lawsuit from State to Federal Court

Ripple’s legal team in their ongoing securities suit is attempting a new tack: to have the claim proceed at the federal level. In a move that legal commentator Jake Chervinsky described as “seriously crafty,” Ripple has filed a formal notice-of-removal motion to have their most recent securities suit, Zakinov et al v. Ripple, tried in a federal court rather than at the state level.   In the notice of removal, the defendants, which include Ripple and its CEO Brad Garlinghouse, among others, request that the court “remove the … civil…

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Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets. “Our mission is to be the bridge for institutions from traditional finance to enter this innovative asset class,” said Final Frontier co-founder Imraan Moola in a public statement. “Bitfury’s technological expertise, combined with our financial…

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Thailand Uses Blockchain-Supported Electronic Voting System in Primaries

Thailand’s Democrat Party has become the first political party to use blockchain technology to elect its leaders in a primary election, which was held from November 1–9, 2018. In a live e-voting system, more than 120,000 party faithful cast their votes in a transparent way that saw former Thai Prime Minister Abhisit Vejjajiva winning his party nomination with 67,505 votes. Party members were able to vote using two methods. The first method was through voting stations that utilized a Raspberry Pi-based system. Voters were also able to vote via a…

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Crimean Government Considers Creation of Blockchain Cluster and Crypto Fund

Crimean authorities are considering creating a blockchain-cluster in the form of a cryptocurrency investment fund to attract tech businesses to the territory. The cluster would be located within the special economic zones (SEZ) in Crimea and its largest city Sevastopol, major state-operated Russian news agency TASS reported Nov. 9. Georgy Muradov, the Permanent Representative of the Republic of Crimea under the President of the Russian Federation, shared the Crimean government’s potential plans about the blockchain-cluster and crypto fund at a meeting of the program committee of the Yalta International Economic…

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Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil

Japanese bank holding and financial services company Mitsubishi UFJ Financial Group, Inc. (MUFG) said it will use Ripple (XRP) to create a new cross-border payments service to Brazil in a press release Nov. 9. MUFG, which has demonstrated an increasing interest in cryptocurrency products, will partner with Brazil’s Banco Bradesco to create the platform through its local subsidiary Banco MUFG Brasil. Confirming the two parties had signed a Memorandum of Understanding (MoU), MUFG reiterated its faith in Ripple’s technology, after joining its global payments steering group in March last year.…

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Australia’s Biggest Bank Trials Blockchain-Based ‘Smart Money’ for Disability Insurance

The Commonwealth Bank of Australia (CBA) and government-run digital innovation center Data61 have released the results of their trial for a blockchain-powered “smart money” system for Australia’s National Disability Insurance Scheme (NDIS). The development was reported by local financial and business news platform Business Insider Australia today, Nov. 13. Data61 is a digital innovation hub that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) — an Australian government corporate entity that undertakes scientific research to advance diverse local industries. The $93.5 billion market cap CBA is the…

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Opposing Bitcoin ABC and Bitcoin SV Factions’ Debates Grow Heated as the Bitcoin Cash Hard Fork Draws Closer

Born out of the original Bitcoin blockchain on August 1, 2017, Bitcoin Cash (BCH) has split the cryptocurrency community into warring factions with their own arguments, verbal skirmishes, leaders, convictions and occasional get-togethers. On November 15, BCH developers are preparing to undergo its next hard fork, a split of the blockchain, which can give birth to new tokens named Bitcoin SV (Satoshi’s Vision), Bitcoin Unlimited and Bitcoin ABC. How Bitcoin Cash appeared The Bitcoin evolution has been constantly debated within the developers community, who had opposing views on what technology…

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‘Future of Real Estate’ Gets Regulatory Approval

A blockchain-based startup which bills itself as “the future of real estate” has announced that its project has been legalized by Japanese regulatory bodies, including the Securities and Exchange Surveillance Commission. Ruden Holdings says inaccurate information, poor record management and inefficient processes are currently blighting the property sector – costing businesses time, money and even credibility. Data cannot be shared easily between organizations – and some cases have seen property owners struggle to prove their ownership of a building. The company has a goal of creating digital identities for real…

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Bitmain Co-Founder Jihan Wu Loses Executive Power in Board Reshuffle, Says Chinese Media

Bitmain co-founder Jihan Wu is reportedly no longer able to influence corporate decisions at the mining firm, Chinese industry media outlet Sanyan Blockchain reported Nov. 13.  Citing an unnamed “financial news” source, Sanyan quotes a lawyer for Bitmain, Tian Yangang, saying that as a result of the redistribution of positions at the company’s executive board, Wu had been demoted from being a “director” to a “supervisor.” “After changing to a supervisor, there are no voting rights, so [Wu’s] power is smaller and [he] cannot participate in the business decision-making of the enterprise,” a rough…

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