Crypto News – Latest Cryptocurrency News

Chainalysis CEO Michael Gronager believes “it’s not much further away” before governments use AI agents to catch onchain crypto wrongdoers. Government prosecutors and taxation authorities will use artificial intelligence to scan the blockchain and “solve crime” within the next five years, according to the CEO of Chainalysis. “It’s not much further away,” said Chainalysis CEO Michael Gronager, asked by Cointelegraph whether generative AI agents could sift through the blockchain for governments within three to five years.“In some years from now, crypto would more or less be the only way you would want to solve crime, because it’s far more scalable, it’s far easier, it’s very transparent, you can do it internationally, and you can see a lot more insights,” Gronager said at the Token2049 conference in Singapore on Sept. 20.Read more

The scammers spent their gains on a lavish lifestyle of luxury cars, apartments, jewelry, and nightlife.  United States federal agents have arrested and indicted two men for stealing a whopping $230 million of Bitcoin from a Washington, DC resident, believed to be a creditor of Genesis. On Sept. 19, the US Attorney’s Office for the District of Columbia reported that two young men, Malone Lam (20) and Jeandiel Serrano (21), were arrested and charged with conspiracy to steal and launder over 4,100 BTC worth $230 million at the time from an unnamed victim in the country’s capital. The pair used several online aliases and sophisticated methods to gain access to the victim’s accounts, transfer funds, and launder the proceeds from at least August 2024. Read more

Crypto exchange BingX’s product chief Vivien Lin has confirmed there was a hack and a “minor asset loss,” which is still being calculated. The Singapore-based crypto exchange BingX has confirmed it suffered “minor asset loss” after a wealth of “suspicious” outflows from one of its hot wallets was noticed online.BingX chief product officer Vivien Lin said in a Sept. 20 X post that the BingX technical team “detected abnormal network access” at around 4 am Singapore time and suspected a “hacker attack on BingX’s hot wallet.”“We immediately started our emergency plan, including the urgent transfer of assets and [withdrawal] suspension,” Lin added. Read more

The vote was passed with 88% in favor of offloading WBTC collateral from the Sky lending platform.  Decentralized finance pioneer Sky, formerly Maker, is forging ahead with a plan to offload wrapped Bitcoin collateral from the platform.Following a governance vote that ran for three days and closed on Sept. 19, the DeFi lending and borrowing platform has ratified to remove its exposure to wrapped Bitcoin (WBTC).The vote garnered overwhelming support from the Sky community with the proposal passing with 88.17% in approval pledging 95,826 MKR.Read more

German authorities sent a loud and clear message to criminal users of the exchanges: We found their servers and have your data — see you soon. The German government has just shuttered 47 cryptocurrency exchanges, accusing them of knowingly allowing an “underground economy” for cybercriminals to flourish, and is now turning its attention to its potentially criminal users. “[They have been] deliberately concealing the origin of criminally obtained funds on a large scale through inadequate implementation of legal requirements for combating money laundering,” Germany’s federal criminal police office, Frankfurt’s main prosecutor’s office and the country’s office for combatting cybercrime alleged in a Sept. 19 statement. The authorities allege their users include ransomware, botnet operators, and black market traders who use the services to convert money obtained through criminal means into the “regular currency cycle.”Read more

Tether launderers sentenced as Bhutan’s Bitcoin hodling places it as the fourth largest among governments: Asia Express. Our weekly roundup of news from Asia curates the industrys most important developments.A Chinese court in the northwestern Gansu province has reportedly sentenced ten individuals involved in a Tether (USDT) laundering service scheme.The defendants received prison sentences ranging from 10 months to one year, with authorities recovering over $168,000 (1.2 million yuan) in illicit gains, according to state-owned online news outlet The Paper.Read more

One of the greatest use-cases of blockchain technologies is the ability to improve security and counter malicious actors, but we need to get serious about it. We find it easy to talk about the benefits of the digital economy, whether the internet or digital assets, but the costs are often overlooked. Whether the surge in human trafficking that has emerged on social media platforms or the rise of cybersecurity vulnerabilities, the expansion of the digital economy comes with new risks to manage.The digital asset community is no different and, to scale and become sustainable, it must confront the prevalence of fraud. And, it’s not hard: already distributed ledger technologies are demonstrating their value by solving concrete use-cases. This week in Vienna, Austria, the Austrian National Bank — together with the Complexity Science Hub and other sponsors — are hosting a conference on advances in financial technology, with a wide array…

A Texas federal court judge has dismissed a lawsuit brought by Consensys against the SEC that claimed the agency was investigating Ethereum to classify it as a security. A Texas federal judge has dismissed a lawsuit filed by blockchain development firm Consensys against the Securities and Exchange Commission and its five Commissioners, including Chair Gary Gensler.The suit, launched in April, requested the court declare that Ether (ETH) is not a security, that “Consensys’s sales of ETH are not sales of securities,” and block the SEC from bringing enforcement action over aspects of its MetaMask wallet software, which it eventually did in June. Consensys also claimed the SEC opened an investigation into Ethereum and planned to regulate it as a security, noting the agency had issued it a Wells notice over MetaMask’s swap and staking services.Read more

After collapsing in 2022, facing an SEC lawsuit in 2023, and filing for bankruptcy in 2024, many of Terraform’s legal cases in the US are beginning to wind down. A judge approved Terraform Labs winding down its operations as part of the firm’s bankruptcy plan in the United States.According to a Sept. 19 Reuters report, Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware approved Terraform’s bankruptcy plan. The company filed for Chapter 11 protection in January, claiming between $100 and $500 million in estimated liabilities and assets.Judge Shannon reportedly called the plan a “welcome alternative” to further litigation to address investor losses. Terraform’s bankruptcy proceedings followed the US Securities and Exchange Commission (SEC) filing a lawsuit against the platform and its founder, Do Kwon, in February 2023.Read more

Following the exploit, Eisenberg claimed he negotiated a settlement with Mango Markets’ insurance fund to ensure users retained their money. Prosecutors for the United States Southern District of New York (SDNY) filed a motion on Sept. 18 opposing Mango Markets exploiter Avraham Eisenberg’s request for acquittal or a new trial.According to the documents filed by SDNY attorneys, the jury correctly convicted Eisenberg by evaluating a “mountain of evidence” beginning with the prosecution’s assertion that Mango perpetual swaps are subject to the Commodities Exchange Act.The federal prosecutors stressed that Eisenberg’s defense — arguing the fraud charges do not apply in the case because the defendant did not seek to manipulate the market price of the underlying asset — were materially incorrect and noted the jury instructions on price manipulation. Attorneys for the Southern District of New York asserted:Read more

The Swiss-based backer of the Internet Computer Protocol will provide training and entrepreneurial support as well as decentralized computing. Dfinity, the Swiss foundation behind the Internet Computer Protocol (ICP) blockchain, has signed a Letter of Intent (LOI) with the Cambodia Ministry of Industry, Science, Technology and Innovation at Token2049. The parties have agreed to pursue research, training and entrepreneurial ecosystem support for smart city infrastructure.The definition of a smart city is somewhat nebulous but emphasizes the use of advanced information and communications technology. Dfinity already has a presence in Cambodia as a partner of a United Nations Development Program pilot project for its digital Universal Trusted Credentials system.The LOI is part of Dfinity’s continuing efforts to support the sharing of sovereign cloud technology with governments and international organizations. Dfinity founder and chief scientist Dominic Williams said:Read more

Bitcoin’s recent rally put its price above a key bull market metric. Are new highs inbound? Bitcoin (BTC) rallied above $62,000 on Sept. 19, rising above its short-term holder (STH) realized price and showing potential for further gains, according to onchain data. The STH realized price is a metric that calculates the average price at which short-term investors—those who have held their coins for less than 155 days–have purchased their Bitcoin. It acts as support in uptrends because these holders are more likely to buy if the price rises above their entry point.CryptoQuant analyst Avocado_onchain explains that STH realized price “has consistently acted as a critical support and resistance level” for Bitcoin.Read more

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Crypto exchange BingX has confirmed it has suffered “asset loss” at the hands of a hacker, which kicked its exchange into emergency mode. The Securities and Exchange Commission is seeking a four-month extension to review documents in its case against Coinbase, and the founder of Cardano has revealed that he will meet Argentina’s President Javier Milei next month to discuss crypto.The Singapore-based crypto exchange BingX has confirmed it suffered “minor asset loss” after X users noticed “suspicious” outflows from one of its hot wallets.BingX chief product officer Vivien Lin said in a Sept. 20 X post that the BingX technical team “detected abnormal network access” at around 4 am Singapore time and suspected a “hacker attack on BingX’s hot wallet.”Read more

With 47 days until the US presidential election, tens of thousands of votes could make a difference in crucial swing states. After touring crucial battleground states, Coinbase’s Stand With Crypto initiative could have registered as many as 121,000 people to vote in the 2024 United States elections.In a statement shared with Cointelegraph, a Stand With Crypto spokesperson said roughly 17,500 users have clicked on the platform’s voter registration tool since Sept. 4, when the group launched a national tour to raise awareness of crypto policies. They added that more than 121,000 crypto advocates had used the tool since the platform launched in 2023.Read more

According to veteran trader Peter Brandt, the United States dollar has lost over 90% of its value since the 1950s due to inflation. Harvard students and alumni have announced the launch of the “New Bretton Woods Project” — an initiative focused on creating Bitcoin-backed stablecoins to combat the global debt crisis.The project aims to build a Bitcoin (BTC) stablecoin on the Bel2 network — a Bitcoin layer-2 solution — allowing users to retain control of their BTC while simultaneously creating opportunities for lending, borrowing, and stablecoin issuance.Spokespeople for the initiative explained that the Bel2 infrastructure leverages Bitcoin’s unparalleled security by executing Bitcoin settlements on the main layer and communicating with protocols on Ethereum to mint stablecoins.Read more