Binance CEO Talks About the Next Bitcoin Rally

Changpeng Zhao, CEO of Binance, talks about the cryptocurrency market situation and the possible timing of the next Bitcoin bull run.

A Quiet Year so Far
Bitcoin hit its all-time high of nearly $20,000 in December last year. Since then, the cryptocurrency has only moved downwards and, over the previous few weeks, stabilized between the $6,000 – $6,500 range.
While BTC has corrected by around 70%, other digital assets like Ethereum and Ripple have seen a fall of over 80%. Most technical analysts and investors believe that BTC has bottomed out and have been expecting the next rally.
Investors, especially those who entered the markets between November 2017 – January 2018, are desperately waiting for Bitcoin to return to its previous highs, or even higher, in the hope of making some gains.

Changpeng Zhao, CEO of Binance, one of the largest cryptocurrency exchanges by volume, was speaking to CNBC and expressed that he expects the next Bitcoin bull run “sooner or later.” The details were reported earlier by Forbes.
Zhao, also known as CZ, said:
Even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen… Sooner or later, something will trigger it.
Impact on Binance
Talking about the effect the bear market has had on Binance, Zhao shared that trading volume on the platform was down by almost 90%. He, however, believes that Binance and the broader market are still in good health.
Zhao said:
Compared to January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business.

CZ mentioned that the number of active users and Bitcoin deposits on the platform have steadily increased over the year. Binance is also preparing for institutional investors and high net worth individuals amidst growing interest shown by institutions.
What Will Trigger the Next Rally?
While CZ is not sure about the trigger for the next bull run, the CEO of cryptocurrency exchange ShapeShift, Erik Voorhees, believes that the U.S. debt will act as the next catalyst.
Voorhees recently tweeted, “When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.”

When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can't possibly ever pay it back, and thus must print it instead, and thus fiat is doomed… watch what happens to crypto.
— Erik Voorhees (@ErikVoorhees) November 8, 2018

According to Bloomberg analysts, indicators like the Directional Movement Index (DMI) for Bitcoin appears to have entered a new bullish phase.
Over the last couple of months, despite positive news of growing adoption, prices of Bitcoin and other cryptocurrencies have only moved sideways.
Even Bitcoin bulls like Novogratz have toned down on their previous bullish predictions.  The only thing that can be said as of now is that the crypto market is quite unpredictable.
What do you think could trigger the next Bitcoin rally? Let us know in the comments below.

Images courtesy of Shutterstock and Twitter/@ErikVoorhees.
The post Binance CEO Talks About the Next Bitcoin Rally appeared first on Live Bitcoin News.

Bitcoin ATM Milestone: Closing in on 4000 Machines Worldwide

The number of Bitcoin ATMs worldwide is increasing. So much so, that the industry could hit the 4,000 figure in just over a week.

3,961 and Counting
At the time of writing, there are currently 3,962 Bitcoin ATMs installed around the world, according to CoinATMRadar.
The country with the highest number of installed machines is the U.S. with 2,353. This is followed by Canada with 678, Austria with 248, the U.K. with 204, and the Russian Federation with 72, making up the top five. However, while there are a number of countries that still only have one, that number will increase with interest in crypto rising within those countries.
Some of the nations that only have one include the Philippines, Germany, Guatemala, Kenya, and Albania.
According to the data from CoinATMRadar, there are currently 5.58 Bitcoin ATMs installed each day. This means that at the current installation rate, the 4,000 milestone could be reached in eight days.

North America currently makes up 71.48 percent of the number of Bitcoin ATMs by continent. This is followed by Europe at 23.47 percent. After that is Asia, with 2.53 percent. Oceania makes up 1.34 percent, then South America at 0.96 percent, followed by Africa at 0.20 percent, and uncategorized at 0.03 percent.
What’s notable about these findings, though, is that despite a slump in the market, interest is still there. This is evident by the number of machines being installed. Compared to January 1st, 2014 when there were four installed, the industry has seen a 98,900 percent increase in over four years.
This increase, however, is likely to continue as interest in the market does. This, in itself, paints a positive picture for where the industry is going.
Embracing Crypto
Argentina is one nation that is embracing the industry. With a country in economic turmoil, its people are finding solace in crypto.
The country currently has three Bitcoin ATMs. However, the report states that by the end of the year, it could have as many as 30 put into place. Looking into next year and that number could rise to 150.

Crypto ATMs are also set to rise in Greece. This is due to the demand for crypto increasing in the country. Back in September, it was reported that there were 10 Bitcoin ATMs in Greece. At the time of publishing, there are now 18. However, if the people are calling for the machines, it makes sense to install them.
Only then can people gain access to the market in a user-friendly manner.
What do you think of the 4,000 milestone? Do you think that number will continue to rise? Let us know in the comments below.

Images courtesy of Shutterstock.
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Far-Right Activist Tommy Robinson Turns to Bitcoin After PayPal Ban

English Defence League founder Tommy Robinson has turned to Bitcoin after PayPal bans him from its platform.

Far-right activist Tommy Robinson (real name of Stephen Christopher Yaxley-Lennon) is no stranger to controversy. Robinson is the founder of the English Defence League, a group that is either considered a group of racist Nazis targeting Muslims or “a human rights organization concerned about how non-Muslims are being marginalized as sharia norms become increasingly embedded in our society,” depending upon a person’s point of view. Robinson is now embracing Bitcoin due to PayPal banning him from its platform.
PayPal Lowers the Boom on Tommy Robinson
Robinson had been using PayPal to raise funds, notably for his ongoing legal fees. He had recently been convicted of violating a court order, which saw him being arrested, tried, and sentenced within a few hours. That conviction was later overturned and a new trial ordered.
Robinson took to PayPal to inform his supporters that PayPal had banned him. The payment processor had received petitions to have him removed from the platform, and the company stated:
We do not allow PayPal services to be used to promote hate, violence, or other forms of intolerance that is discriminatory. […] We do not take decisions like these lightly, and we work hard to be rigorous and fair-minded when reviewing PayPal accounts.

Robinson discussed the ban to the Press Association, stating:
They just don’t like my opinion and want to silence me. The government and establishment can see I have public support, they can see I have the ability to fight back.
Turning to Cryptocurrency
Tommy Robinson also noted that PayPal was holding “a lot” of money that was currently in his account. Apparently, it will be a six full months before Robinson can begin making an attempt to withdraw the funds.
This move by PayPal has caused the controversial figure to turn to cryptocurrency. In a Facebook post, he listed his Bitcoin wallet address so that his supporters could continue to help fund his activities. The post reads:
Look at the PayPal Fascists, can’t even explain what exactly I have done that is not inline with their User agreement . They steal our funds for 6 months? Screw Paypal and the establishment if you still want to support me you can do so without Paypal at www.supporttommy.com or using Bitcoin wallet 3MspPzwvsAwNHG2UsFMXzA6LVhHRqzajRc 👊

In a follow-up post, Robinson says that he is also accepting Bitcoin Cash as well. He says:
With Pay Pal displaying fascism and shutting me down because they disagree with my views you can still support my work on my website here www.supporttommy.com, clicking the button below the video or using Bitcoin wallet 1FnAD3Z2SmPXwXFVqQHTtDfTkzJVVv3yPn or Bitcoin cash qq4ju9am04jv0p434j9a3p5fv6vsz3afqq5mtp4vd5👊 #ScrewPayPal
Whether one hates him or supports him, it is interesting to note that a great deal of power is concentrated in the hands of a few technological and financial companies. Cryptocurrency allows people to bypass such gatekeepers and exercise individual economic choices. The matter on whether such choices are right or wrong belongs in the eye of the beholder.
What do you think about Tommy Robinson turning to cryptocurrency? Let us know in the comments below.

Images courtesy of Shutterstock.
The post Far-Right Activist Tommy Robinson Turns to Bitcoin After PayPal Ban appeared first on Live Bitcoin News.

Tommy Robinson Turns to Bitcoin After PayPal Ban

English Defence League founder Tommy Robinson has turned to Bitcoin after PayPal bans him from its platform.

Far-right activist Tommy Robinson (real name of Stephen Christopher Yaxley-Lennon) is no stranger to controversy. Robinson is the founder of the English Defence League, a group that is either considered a group of racist Nazis targeting Muslims or “a human rights organisation concerned about how non-Muslims are being marginalised as sharia norms become increasingly embedded in our society,” depending upon a person’s point of view. Robinson is now embracing Bitcoin due to PayPal banning him from its platform.
PayPal Lowers the Boom on Tommy Robinson
Robinson had been using PayPal to raise funds, notably for his ongoing legal fees. He had recently been convicted of violating a court order, which saw him being arrested, tried, and sentenced within a few hours. That conviction was later overturned and a new trial ordered.
Robinson took to PayPal to inform his supporters that PayPal had banned him. The payment processor had received petitions to have him removed from the platform, and the company stated:
We do not allow PayPal services to be used to promote hate, violence, or other forms of intolerance that is discriminatory.
 
We do not take decisions like these lightly, and we work hard to be rigorous and fair-minded when reviewing PayPal accounts.

Robinson discussed the ban to the Press Association, stating:
They just don’t like my opinion and want to silence me. The government and establishment can see I have public support, they can see I have the ability to fight back.
Turning to Cryptocurrency
Tommy Robinson also noted that PayPal was holding “a lot” of money that was currently in his account. Apparently, it will be a six full months before Robinson can begin making an attempt to withdraw the funds.
This move by PayPal has caused the controversial figure to turn to cryptocurrency. In a Facebook post, he listed his Bitcoin wallet address so that his supporters could continue to help fund his activities. The post reads:
Look at the PayPal Fascists, can’t even explain what exactly I have done that is not inline with their User agreement . They steal our funds for 6 months? Screw Paypal and the establishment if you still want to support me you can do so without Paypal at www.supporttommy.com or using Bitcoin wallet 3MspPzwvsAwNHG2UsFMXzA6LVhHRqzajRc 👊

In a follow-up post, Robinson says that he is also accepting Bitcoin Cash as well. He says:
With Pay Pal displaying fascism and shutting me down because they disagree with my views you can still support my work on my website here www.supporttommy.com, clicking the button below the video or using Bitcoin wallet 1FnAD3Z2SmPXwXFVqQHTtDfTkzJVVv3yPn or Bitcoin cash qq4ju9am04jv0p434j9a3p5fv6vsz3afqq5mtp4vd5👊 #ScrewPayPal
Whether one hates him or supports him, it is interesting to note that a great deal of power is concentrated in the hands of a few technological and financial companies. Cryptocurrency allows people to bypass such gatekeepers and exercise individual economic choices. The matter on whether such choices are right or wrong belongs in the eye of the beholder.
What do you think about Tommy Robinson turning to cryptocurrency? Let us know in the comments below.

Images courtesy of Shutterstock.
The post Tommy Robinson Turns to Bitcoin After PayPal Ban appeared first on Live Bitcoin News.

Would You Pay $30k to Withdraw $1m? What You Need to Know About Bitfinex’s New 3% Wire Withdrawal Fee

Bitfinex, the 17th largest cryptocurrency exchange by trade volume, has announced a new fee structure for high volume / high value fiat withdrawals.

Bitfinex Hikes Fee
Bitfinex, one of the leading cryptocurrency exchanges, earlier on Sunday made an announcement on its website revealing a new fee structure for fiat withdrawals.
According to the announcement, effective immediately, Bitfinex will charge a 3.0% fee on all external wire withdrawal requests exceeding the following frequency and/or size limits:

more than 2 fiat withdrawals in any thirty-day period; and/or,
more than $1 million in aggregate in fiat withdrawals in any thirty-day period.

This is a significant increase. A customer who withdraws $1 million, for example, would have to shell out $30,000 in fees.
The exchange, however, said that the move would not impact 99% of the customers who make regular withdrawals.

Intent Behind Move
Bitfinex did not specify the reason behind the move. Usually, with growing competition, exchanges lower their fees to retain existing customers and attract new ones.
The trading platform claims that it serves as the primary fiat gateway and has processed over 700 withdrawals amounting to more than $1 billion in October.
Bitfinex and Tether (USDT), who share the same management, have recently been in the news for all the wrong reasons. Both firms have been accused of unethical practices and questionable integrity.
Last month both entities had to terminate the relationship with their banking partner, Puerto Rico-based Noble, due to liquidity issues with the bank.
This was followed by rumors of Tether’s delisting from multiple exchanges, leading to a sell-off of USDT.
A possible reason for the move could be to stem the outflow of funds from the controversy-ridden platform and discourage customers from exiting.

Users React
The customers of the platform and the members of the crypto-community obviously did not receive the announcement well and took to social media to vent out their feelings.
Many have accused the exchange of deliberately locking up customer funds. Conspiracy theories making the rounds say that the move is aimed at raising the value of Tether. Customers willing to withdraw funds from the exchange could, in theory, resort to exiting by converting to USDT because fiat withdrawals have become expensive.
Speaking about the recent concerns, Bitfinex stated:
Our banking remains stable, but we must prioritize our long-standing and loyal customers using the platform so that they can continue to benefit from our truly unique offering, the benefits of which extend far beyond our users and include many crypto-to-crypto and crypto-to-stablecoins exchanges.
The exchange added:
We will continue to fight to defend the use of an independent fiat gateway despite sustained and co-ordinated attacks from powerful forces attempting to harm global cryptocurrency markets. We are thankful for the support that many of our customers and others have shown us behind the scenes. Now it is important that we all remain united and support our industry beyond any cryptocurrency or individual exchange preference.
This announcement by Bitfinex has not gone down well with the users and may prove counterproductive for the already issue-struck company.
What are your thoughts about the fee increase by Bitfinex? Let us know in the comments below.

Images courtesy of Shutterstock.
The post Would You Pay $30k to Withdraw $1m? What You Need to Know About Bitfinex’s New 3% Wire Withdrawal Fee appeared first on Live Bitcoin News.

5 Coins Coinbase Likely to Add Next

CoinSpeaker
5 Coins Coinbase Likely to Add Next
There is no time left for the market to recover after the announcement of the world’s leading cryptocurrency exchange Coinbase is adding new listings, as the platform once again pushed off the ground of the crypto-community.
This time Coinbase has an eye for few more digital coins that some say are soon to become a part of the platform’s wide offering. The other day Coinspeaker stressed a bullish market trend rolling out towards Cardano, Zcash, and Stellar, which reportedly are going to join the list of Coinbase trading coins.
The upward tendency dubbed as “Coinbase effect” explains a short-term surge of the coins’ price that for a moment made investors recall once flourishing cryptocurrency market. In the wake of Coinbase listings, both Cardano, Zcash and Stellar were traded on positive momentum with slight but evident increase in their value.
Today almost everyone of them have returned to their starting point whereas the enthusiasm of investors is gradually fading. Nonetheless, Coinbase has the foresight to reserve some surprises to maintain their interest.
Coinspeaker devised the list of potential Coinbase addings that have all the chances to enhance the exchange soon.
Stellar (XLM)
The first in a row to the Coinbase offering stands Stellar (XLM). Being developed by Ripple creator Jed McCaleb, the Stellar ecosystem underpins an alternative payment network that connects individuals with various financial institutions. Stellar native token, in turn, contributes to the ability to move money around the world and to conduct transactions between different currencies quickly and securely.
Currently Stellar (XLM) is trading for as much as $0,26 per unite replacing EOS among top-5 cryptocurrencies in terms of market capitalization. Notably that the news of Coinbase listing was determined as a key factor for such stunning success.
Carnado (ADA)
The second to go for Coinbase is Carnado (ADA). The decentralised cryptocurrency project empowered by Carnado (ADA) is developing a smart contract platform, which seeks to deliver more advanced features than any protocol previously developed.
The bearish trend for Carnado (ADA) seems to be halted as Coinbase announced it amidst their expectants to join the platform. Today the price of digital coin remains close to $0,75 benchmark while the amount of trading volume saves Carnado (ADA) the 8th position in the list of available cryptocurrencies.
Binance Coin (BNB)
The digital coin named after popular crypto-exchange also has good chances to be listed at Coinbase in the near future. As it comes from the name, established supply of 200 million Binance Coin (BNB) is mainly used to underlie transactions made by the exchange users.
At the moment,  Binance Coin (BNB) is traded for $9.28 with about 130 million of BNB in circulation. Relatively stable price level together with Binance support makes Binance Coin (BNB) the 14th cryptocurrency asset available for investment.
EOS (EOS)
Notorious EOS (EOS) is the next possible listing for Coinbase, though the suspicion of false decentralization has weakened public support for this promising coin.
Being called as the Ethereum strongest adversary, EOS (EOS) lost its shine following the report made by independent testing agency. As the result, the claimed tremendous capacity of newly launched EOS network was questioned, while the network itself allegedly lacks decentralization.
Obviously, such fuss negatively affected the price of EOS (EOS) that ultimately gave up the positions to Stellar (XLM).
Today the coin’s price established at the level of $5.17 serving it the 6th place in the crypto-rank.
Ripple (XPR)
The last but not the least coin waiting to be added to the Coinbase offering is Ripple (XPR). It might seem strange why so prominent digital coin has so far failed to be listed at Coinbase. Conceived as a blockchain-based alternative for SWIFT, Ripple is known for a broad-scope incorporation into the interbanking settlement systems and remittance corridors.
Yet the company behind the robust technology has numerously stated the dual nature of the Ripple enterprise and the altcoin itself. This statement now is to be carefully examine as the company are facing a legal trial regarding the regulatory nature of the cryptocurrency.
Once Ripple (XPR) fully clears its reputation out of a security stain, the coin is likely to join a bandwagon of Coinbase-trading cryptocurrencies. Now Ripple (XPR) is trading to $0.5056 rigidly remaining the third largest cryptocurrency in terms of market capitalization.
5 Coins Coinbase Likely to Add Next

Ripple CEO Discusses the Need for a Global Framework and Taking Over SWIFT Payments

Ripple CEO Brad Garlinghouse recently spoke about how global regulations can foster institutional adoption as well as the company’s impact on SWIFT payments.

Ripple’s blockchain-based payment technology is grabbing the attention of more and more financial institutions all around the world. Banks in the U.S. and Saudi Arabia are using its technology and Live Bitcoin News just recently reported on a cross-border payment system with Japan and Brazil being implemented through Ripple.

Global Regulations are Needed
So, what’s next for Ripple? According to Bloomberg, its CEO, Brad Garlinghouse, discussed this on the sidelines at the recent Singapore Fintech Festive. When questioned about whether or not regulation was hindering institutional investor adoption, Garlinghouse responded:
You need a global framework and you’re seeing some countries really lean in and be progressive and provide that clarity. Here in Singapore, the MAS [Money Authority of Singapore] has been truly a leader. That’s also true in Thailand and, even to some degree, in the Philippines and Japan. Other markets have been slower. Even in the United States, there’s some lack of clarity, particularly around the SEC and some things that they’ve announced around ICOs but there’s still work to be done on that. But I think until that clarity is there, it’s hard for companies to invest in a big way.
Garlinghouse also discussed how he believed that 2018 would be the year of this adoption but as we near closer to the end of this year, that doesn’t seem to be the case partly because of unclear regulations.

Ripple SWIFTly Taking Over Cross-border Payments
Ripple’s CEO was also asked to give his view on any potential partnership with the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Just last week, Live Bitcoin News reported that SWIFT has denied any future collaboration but this did not seem to concern Garlinghouse. He said:
The technologies that banks use today that SWIFT developed decades ago really hasn’t evolved or kept up with the market… SWIFT said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.
While a partnership may not be in the cards just yet, it appears that Ripple is doing just fine. When questioned on whether or not the platform could take over SWIFT in the future, Garlinghouse responded:
Well, I think what we’re doing and executing on a day-by-day basis is, in fact, taking over SWIFT… Some of the largest SWIFT-enabled banks are now using Ripple technology.
As a real-world example, Garlinghouse referred to a remittance company that, by using his platform’s technology, managed to cut down its cross-border payment fees from $20 to $2. This, in turn, resulted in that institution seeing an “800% increase in usage overnight”.
Ripple’s CEO concluded that one of the goals of the company is to help banks succeed through the use of their technology. Whether or not SWIFT will be part of that remains to be seen.
Do you think that we’ll see a SWIFT-Ripple collaboration in the future? Do you think that Ripple is already taking over SWIFT? Let us know in the comments below!

Images courtesy of Shutterstock
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Now It’s Official: Ripple and Tas Working Together, XRP Liquidity Boosts

CoinSpeaker
Now It’s Official: Ripple and Tas Working Together, XRP Liquidity Boosts
In an official announcement, San Francisc0-based blockchain startup Ripple is now joining hands with software solution provider TAS. The official TAS website confirms its engagement with Ripple saying “Ripple is coming.. and TAS is ready!” As we all know, “Ripple is a ‘Global, Neutral Settlement System’ for bilateral settlement and exchange.”
On the other hand, software solution provider TAS works with several commercial and central banks across Europe and other parts of the world. Moreover, TAS is also the main broker-dealer of the Global Fortune 500. The company has also got its Financial Services centers in Italy and Europe.
Apart from being the biggest payments carrier in Europe, TAS also has a global presence across 7 countries. TAS serves 150 clients worldwide and also manages over 100 million cards globally. Dieter Schoene, managing director of TAS Germany said:
“We have been actively monitoring the blockchain market developments from the beginning, years ago, being the first Italian vendor to implement in 2014 a Ripple driver in our interbank payments hub allowing Banks to pilot and evaluate the Ripple value proposition for cross-border real-time payment transactions”
In one-page information, the TAS Group also shares how the existing payment systems are ailing with inefficiency. Some of the common problems include high transactions fees, over 2 days settlement times, lack of visibility, multiple failure points, and much more.
XRP Liquidity Getting a Huge Boost
Just as Ripple is making important partnerships, the native XRP token is gaining more grounds. This week itself, the XRP liquidity is getting a huge boost as the crypto token makes it way to a payment platform, exchanges, wallets, and lending provider. XRP enthusiast Leonidas shares information regarding the same on his Twitter.

Since Monday1 payment platform @advcash 9 exchanges @OKEx @CMCMarkets @GDAC @CGCXofficial @XDAEX_COM @TradeMnOfficial @coinzocom @blockportio @Tokocrypto 4 wallets @atomicwallet @eToro @SpendCard @Trezor 1 lending provider @ihaveCred and its still Thursday$XRP #XRPcommunity
— Leonidas (@LeoHadjiloizou) November 8, 2018

XRP is currently the third-largest cryptocurrency with a market cap of over $20 billion. At the press time, XRP is trading at $0.51.
XRP 1000x Faster and Cheaper to Bitcoin
In a recent interview on Bloomberg TV, Ripple CEO Brad Garlinghouse spoke at length about Ripple and XRP. Garlinghouse talked about Ripple’s association with other companies in the crypto space and global financial institutions. Moreover, he also spoke on how XRP can be a useful commodity. He also said that XRP’s long-term growth will depend on the problems it solves.
Note that both Ripple and XRP are independent of each other. However, Garlinghouse said that just like Ripple XRP aims to solve real-world problems. The Ripple CEO further added:
“Yes, there is a lot of speculation and hype about Ripple and the crypto community as a whole. What we need to do now is to separate the two from each other and focus on expanding the real world use cases.”
Pitching XRP in a straight comparison with Bitcoin, Garlinghouse said: XRP’s services are a “1,000 times faster than Bitcoin [BTC] and a 1,000 times cheaper than Bitcoin”.
Now It’s Official: Ripple and Tas Working Together, XRP Liquidity Boosts

Trojans, Malware, and Sextortion Dominate Leading Trends in Bitcoin Cybercrime

Cybercriminals continue to devise and perfect new strategies to steal Bitcoin and other cryptocurrencies. In 2018 alone, the activities of these online syndicates have led to the theft of hundreds of millions of dollars. Here are some of the popular tactics used by these criminals to steal cryptocurrency online.

Trojans and Malware
Recently, Live Bitcoin News reported on Swiss authorities warning cryptocurrency exchange platforms of the emergence of modified e-banking trojans. This strain of trojans targets cryptocurrency trading platforms.
Cybersecurity firm Kaspersky Labs says hackers have also created a new iteration of the deadly Rakhni trojan. This particular variant is capable of performing both cryptojacking and ransomware exploits on the target victim.
Apart from trojans, other forms of malware also constitute a danger to cryptocurrency owners and users. Recently, Kaspersky Labs also warned that syndicates like the North Korea-based Lazarus Group could begin to develop malware for the Mac OS given the success of their hacking exploits on the Windows OS.

In a statement by Kaspersky, the company’s researchers noted:
It would seem that in the chase after advanced users, software developers from supply chains and some high-profile targets, threat actors are forced to develop Mac OS malware tools. The fact that the Lazarus group has expanded its list of targeted operating systems should be a wake-up call for users of non-Windows platforms.
Ransomware and Sextortion
Sextortion is fast becoming a popular form of cryptocurrency ransomware. Rather than targeting banks and other corporate organizations, these attacks focus on blackmailing victims who have reportedly viewed pornographic pictures and videos unless they pay a Bitcoin ransom.

The hackers usually take things up a notch by threatening to send the pictures and the videos to the victim’s contacts. Meanwhile, other forms of ransomware are still on the rise. In September, a small Canadian town paid off cybercriminals who had hacked the town’s computer system.
Cryptojacking Botnets
With the fight against cryptojacking exploits gathering steam, hackers seem to be perfecting a new means of remotely hijacking computers for cryptocurrency mining. These days, cryptojacking botnets seem to be the preferred choice.

Both Google and Apple recently took steps to prohibit mining apps on their respective app stores. Browsers like Chrome and platforms like YouTube are also trying to limit the spread of Coinhive and other malicious mining scripts/add-ons. In response, the hackers seem to be going high-tech, employing botnets to spread virus loaders known as ‘droppers.’
How can cryptocurrency enthusiasts best protect themselves from these sophisticated schemes to steal their virtual currencies? Let us know your thoughts in the comment section below.

Images courtesy of Shutterstock and iStock.

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Binance to Suspend Trading for Eight Hours Due to System Upgrade

Cryptocurrency exchanges need to keep their infrastructure up-to-date at all times. For Binance, tomorrow marks such an important day. Although the company isn’t changing anything major, the company will temporarily suspend all services. During this eight-hour period, users will need to look for other trading alternatives.

Binance System Upgrade Announcement
On Monday, popular cryptocurrency exchange Binance announced that it will go offline for an eight-hour period beginning at 2:00 am UTC on November 14. A system upgrade will be performed, albeit no details of the upgrade have been made public at this time. As the platform will be offline, no deposits, withdrawals, or trading will be completed.
It is unclear if this Binance upgrade has to do with the upcoming Bitcoin Cash hard fork. The platform will support this fork through a balance snapshot to be taken on November 15th. The potential network split focuses on two different implementations of BCH. As such, a separate client and node will need to be run to support Bitcoin SV alongside Bitcoin ABC.
A regular maintenance takes place quite often, but those are less severe. Most of these maintenance procedures are completed within one hour or less. For the exchange to go offline eight hours is unusual, although seemingly necessary. Being the world’s largest cryptocurrency exchange requires making proactive upgrades to the infrastructure. The last system upgrade took place in June of this year.

Remaining Ahead of the Competition
For exchanges, competition has begun heating up recently. Hundreds of platforms all vie for market traction at this time. Entities such as Binance need to do everything they can to remain ahead of the other provides. How they plan to do that exactly, remains a bit unclear at this time. Its solid reputation alone should, in theory, be sufficient to keep the momentum going.
Upgrades to the internal systems are a vital part of running a cryptocurrency exchange. Some of the major platforms have suffered in this department over the years. It is safe to say that has cost them customers in the long run. Many people flock to Binance because of its stability and the vast offering of different trading markets.
This is also why the company’s Trading Strategy Competition turned out to be a success. During that contest, the exchange distributed 37,000 BNB to the winners. Efforts like those make Binance a “home” for cryptocurrency traders, rather than just another service to use. Engaging with clients is something few crypto companies pursue in this day and age. That situation needs to change prior to Bitcoin entering into the mainstream.
Are you at all concerned about the Binance system upgrade? Do you think it is related to the upcoming Bitcoin Cash fork? Let us know in the comments below.

Images courtesy of Shutterstock
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