Results of the Week 20.08.2018 - 26.08.2018
Hackers can't escape justice
The week began with notices of high-profile arrests. So in China, police arrested hackers who are charged with embezzlement of $87 million in cryptocurrency. Three nationals of the country who were in different cities at the time of detention (Hunan, Changchun, Beijing). The application to the police was filed by an ordinary Chinese citizen, and the investigation into this case has been going on for more than a month. But according to the police, there is enough evidence to catch the organizers, now it's up to the court.
On the other side of the world, in California, crypto criminality also takes place. US law enforcement agencies in California have arrested the 21-year-old Jakob Burrel Campos, who is accused of illegal operations with cryptocurrencies. According to the local prosecutor's office, this cryptocurrency dealer offered to buy cryptocurrency from him, not only that after sending money to his wallet, cryptocurrency in return didn't reach anyone, so he also earned on the commission for his "services" 5%. How can you protect and protect yourself from such situations?
Protective measures against fraud in the crypto industry
In the United States, for example, the Association of Virtual Exchange Goods will soon appear, whose purpose will be to provide transparent working conditions in the cryptocurrency market, which will give investors a greater level of protection when working with cryptocurrencies. The organization will be the brainchild of the Winklewoss brothers, and the Association will include four major sites such as Gemini, Bitstamp, BitFlyer USA and Bittrex.
In the US, much attention is paid to combating cryptocurrency fraud. This is also evidenced by a recent statement from the US Federal Trade Commission (FTC), which shared information on a new fraudulent scheme that is practiced to entice cryptocurrency.
In addition, it is possible to become a victim absolutely voluntary. Cases of fraud on Twitter also became more frequent. So under the fake accounts of Elon Musk, Vitalika Buterin and other significant persons in the crypto industry, scammers ask for a seemingly small amount, usually 0.3-0.7 ETH/BTC, after which they promise to throw off the reward 10 times more. Such an operation is carried out under the guise of a generous stock from well-known crypto investors, which cause trust.
SEC decisions and how they affect the crypto industry
The Securities and Exchange Commission (SEC) is able to surprise even the most "experienced" analysts and crypto investors. On August 22, the SEC issued a batch of refusals on applications that were related to the creation of Bitcoin-ETF. All applications came from three companies: ProShares, Direxion and GraniteShares. The Commission argued its decision for all exchanges in the same way, saying that they didn't fully comply with the requirements of the "Securities Exchange Act", as well as other rules established by the Commission. This news quickly and impact on the price of bitcoin, as well as major cryptocurrencies, occupying a leading position in market capitalization. All of them literally fell by about 4-5% in price in a day.
But soon the situation went on in a more positive direction. And bitcoin quickly restored the previous pricing policy of its assets, having even managed to surpass it. This happened also thanks to the SEC. The Commission stated that they are ready to reconsider the decision on the refusal. This doesn't mean that it will necessarily change to positive, but it gives investors confidence in the future.
The castle of Mayzus in flames
In the Czech Republic this week, the castle caught on fire, which belongs to Sergei Mayzus (according to the documents). Maysus is a well-known citizen of the Russian Federation, who filed a lawsuit against the head of BTC-e Alexander Vinnik. Many ask the same question: are these two events related to each other?