Crypto Exchange Zaif Hacked In $60 Million 1114

Yet another Japan-based cryptocurrency exchange has been hacked, losing a 6.7 billion yen (about $60 million worth of cryptocurrency), including 5,966 bitcoins. The licensed exchange, called Zaif, is operated by the Tech Bureau. It said on Thursday that the exchange first noticed an unusual outflow of funds on the platform around 17:00 Japan time on September 14, after which the company suspended asset deposit and withdrawal services.

Tech Bureau explained that after further investigation, it discovered that hackers with unauthorized access to the exchange’s hot wallets had stolen roughly $60 million in bitcoin, bitcoin cash, and MonaCoin. That being said, the exact amount of bitcoin cash stolen remains unknown.

The exchange added that since its own asset reserve is currently around 2.2 billion yen (or $20 million), it has reached an agreement with a Japan-listed firm called Fisco to receive a $44.5 million investment in exchange for a major share of ownership.

Tech Bureau said given the nature of the unauthorized fund access, it has filed the incident as a criminal case to local authorities for further investigation. The incident marks the second hack in Japan this year, after Coincheck also reported that a whopping $520 million in NEM tokens were stolen by hackers in January.

Following Coincheck’s hack, the Financial Services Agency (FSA) – Japan’s financial watchdog – has launched a series of inspections on cryptocurrency exchanges in the country regarding their security measures.

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Bitcoin Association launches Introduction to Bitcoin Development online course at Bitcoin SV Academy 21930

Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV blockchain, today announces the official launch of the Introduction to Bitcoin Development course at Bitcoin SV Academy. The course is available free of charge and can be accessed from today at http://bitcoinsv.academy.

Introduction to Bitcoin Development is part of the Bitcoin Development stream of Bitcoin SV Academy and has been designed to equip application developers with the skills, tools and techniques required to build applications on the Bitcoin SV network. The course covers Bitcoin as a data protocol – including reading, writing and advanced functionalities with the Bitcoin ledger, payment protocols, token protocols and smart contracts. At the conclusion of the course, participants will be tested on their knowledge through an online examination, with a course certificate available upon successful completion for those who have demonstrated proficiency and understanding of the subject matter.

Bitcoin SV Academy is an online education platform for Bitcoin which offers academia-quality, university-style courses and learning materials in three distinct streams, Bitcoin Theory, Bitcoin Development and Bitcoin Infrastructure. Developed and run by Bitcoin Association, Bitcoin SV Academy has been created to make learning about Bitcoin – the way creator Satoshi Nakamoto designed it – accessible, accurate and understandable.

The launch of Introduction to Bitcoin Development today follows the successful rollout of Introduction to Bitcoin Theory – the first course to be launched on Bitcoin SV Academy – in December 2020. Later this year, the first module in the Bitcoin Infrastructure stream Introduction to Bitcoin Infrastructure is due to launch, followed by intermediate and advanced level courses across the three streams.

River Financial raises $12M Series A to continue explosive growth of its Bitcoin financial services for traditional investors 21087

San Francisco-based Bitcoin financial services provider River Financial closed a $12 million Series A equity financing round to continue growing its financial service offerings for traditional investors. The investment round was led by Goldcrest Capital with participation from Craft Ventures, Polychain Capital, M13, Castle Island, Slow Ventures, and The Kraft Group.

River Financial previously announced a $5.7 million seed round in June 2020. In the nine months since the company’s seed round announcement, River’s client base has grown by almost 600%, and order volumes have increased by 3,500%. River’s recent iOS app has accelerated the company’s growth, already accounting for over 30% of all River’s order volume within five weeks of launch. River Financial continues to experience exponential growth in new customers and order volume month-over-month as global interest in Bitcoin continues to grow rapidly. Social unrest, inflation fears, and recent elections are driving droves of traditional investors to Bitcoin and River.

River is investing heavily in team growth and product development. According to Co-Founder and CEO Alex Leishman, “Bitcoin is on a trajectory to becoming a global reserve asset, and we are building the financial services that our clients will need for that future.” River’s focus on premium client services and traditional financial tooling, including tax lot tracking and account statements, is attracting increasing numbers of high-end clients who find incumbent solutions intimidating and confusing.

The majority of volume on River is driven by clients over the age of 50, but Co-Founder and COO Andrew Benson believes there is still a large underserved segment of the population, “River’s mission is to bring Bitcoin to investors around the world. Even as global interest in Bitcoin grows rapidly, most Americans over the age of 45 who want Bitcoin still don’t own any. River is helping to fix that by creating familiar, high-end financial solutions for investors who are new to Bitcoin.”

Max Dilendorf Serves as a Bitcoin Expert Witness in USCIS EB-5 Green Card Adjudication Proceedings 19869

The United States Citizenship and Immigration Services (USCIS) has frequently denied EB-5 applications that list Bitcoin exchange-traded-funds as a legitimate “source of funds”. Yet, in an unprecedented approach that included forensic reporting analysis, attorney Max Dilendorf provided an expert legal opinion and due diligence report proving that a green card applicants’ source of funds met the standards to be qualified under this program.

Because USCIS only requires a “preponderance of evidence” showing the legal acquisition of investment funds in EB-5 petitions and offers little guidance for applicants whose funds originated in cryptocurrency, Dilendorf’s confirming evidence was a significant achievement.

The Dilendorf Law Firm, NYC’s top law firm for the digital age, represented several clients in EB-5 matters with the USCIS concerning the clients’ EB-5 investments funded with cryptocurrencies. By submitting blockchain and cryptocurrency expert reports in these cases, the firm has provided evidence to support the legitimate “source of funds”.

The firm’s clients were software engineers and early cryptocurrency adopters who, in the opinion of the crypto compliance law firm, are legally qualified for obtaining EB-5 investor green-cards, as there was little doubt on the legality of the source of the clients’ cryptocurrency funds.

Dilendorf’s legal opinions and blockchain forensic reports, as submitted to the USCIS, included an expert assessment of the following:

  • legality of the specific digital assets and regulatory framework for the involved financial institutions dealing with cryptocurrencies;
  • origin and flow of cryptocurrencies funding the EB-5 investments;
  • mechanism and sufficiency of digital wallets, private cryptographic keys, crypto trading platforms and accounts establishing ownership of the clients’ cryptocurrency funds;
  • KYC/AML compliance measures taken at each point of the funds’ journey by clients and third parties, including crypto exchanges and OTC traders.

Max Dilendorf, Esq. is also a top forensic Bitcoin and crypto expert witness. His expertise has also made him one of the top cryptocurrency consultants for Fortune 500 companies.  Mr. Dilendorf’s recent speaking engagements have included the Thailand SEC, IBM, Berkshire Hathaway, and New York University, to name a few.

Pastel Network Announces the Listing of PSL on the Bitcoin.com Exchange 19140

Pastel Network, the first truly decentralized and scalable blockchain project designed specifically for rare digital art, has officially announced its pending listing on Bitcoin.com, scheduled for March 5, 2021. Pastel Network is a blockchain for rare digital art (also known as “NFTs”) that is built on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the world of blockchain art, such as the decentralized storage of art image files natively in the network, as well as a decentralized validation process for registering new artworks that prevents near-duplicate images from being added to the system. Pastel’s novel near-duplicate detection algorithm is based on robust image fingerprints that are generated using state-of-the-art deep learning image models and introduces a new form of digital scarcity which makes pixel patterns themselves “rare.”

Pastel takes a different technological approach than competing digital art blockchain projects, which are primarily built on top of the Ethereum platform. Because Pastel is an integrated platform specifically designed for the application of rare digital art, it has its own native Bitcoin-like currency (called the PSL coin). Having a native currency token makes the Pastel Network’s fees for registering, storing, and trading rare artwork very low, which makes it affordable to artists and collectors all over the world. Furthermore, the system includes a native mechanism based on changes in the mining difficulty of Pastel’s proof-of-work algorithm for maintaining these fees at affordable levels long into the future — even if PSL appreciates significantly in value. This is in stark contrast to Ethereum-based art projects, where the cost to create new artworks is currently hundreds of dollars, creating unnecessary financial risks for artists and making these other platforms out of reach for all but the wealthiest artists and the most expensive digital artworks. Even if an artist can afford to pay these egregious fees, the cost of simply transferring the artworks to users is prohibitively high. Pastel offers digital artists a secure and robust environment for registering their rare digital artworks with very low transactional costs, making digital art accessible to artists from anywhere in the world, and allowing a different business model for artists where they can sell larger numbers of their limited-edition digital art “prints” at a price point of under $5, while still making a healthy profit margin.

At the same time, Pastel allows art collectors and fans to purchase rare digital artworks directly from their favorite artists — with most of the value going to the artist instead of being wasted on unproductive network fees and overhead. This allows fans to participate in the long-term success of their favorite artists, creating a reciprocal relationship that transforms an artist’s fans into partners that have a financial stake in promoting the artist’s work. Furthermore, buyers of rare artworks on Pastel are able to trade their owned artworks with other Pastel users in a decentralized exchange that is native to the platform, all while paying modest trading commissions and transaction fees that are closer to the ~2% charged by payment processors such as Paypal and Stripe than the 15% or more charged by art dealers and auction houses, and other NFT platforms. Pastel Network’s low trading fees will lead to a much more dynamic and liquid marketplace for rare digital artwork that has the potential to radically transform the way art is created and collected. Best of all, the trading fees are sent by buyers and sellers to an unspendable PSL address, thus, “burning” them and removing them permanently from circulation. Over time, this natural deflation will offset the new PSL created through the mining process, making PSL scarcer and more valuable.

As Pastel Network’s founder Jeff Emanuel explains, “Today marks an exciting milestone for our project, which has been under continuous development since 2018 with the singular mission of serving the world’s artistic community. We have created an open platform that frees artists from the restrictions of the traditional art market, with its outrageous commissions and dealer fees, as well as its elitist ‘gatekeeping’ mentality that excludes the vast majority of talented artists around the world from earning a living as an artist. With the listing of Pastel on the Bitcoin.com exchange, as well as the public launch of our wallet software for artists and collectors in the next months, Pastel is now poised to disrupt the NFT space with a radically better network design that solves the high transactional fees and scalability issues that plague existing Ethereum-based NFT marketplaces and platforms.”

Pastel Network originated as a fork of the Animecoin blockchain project originally introduced in 2014. Animecoin was based on a modified version of the Bitcoin code and was fairly distributed with zero “pre-mine” to thousands of users around the world. After the fork, the Pastel team raised over $3 million from Innovating Capital and other blockchain investors to fund the development of the Pastel software and to further the goals of the project through community engagement and exchange listings, culminating in Pastel’s pending listing on Bitcoin.com.

Blockchain Wave is waiting for you in Antalya in 8 Apri 21845

Blockchain-Wave

The wave of international blockchain innovation is coming to the shores of the Mediterranean. In April this spring, Antalya is the place to be for Crypto enthusiasts, Crypto investors, IT specialists and trailblazers in the field of Blockchain IT technology and Cryptocurrencies. Come to Rixos Downtown for networking and recreation!
The organizers are German agency Lead Volume and Turkish blockchain-platform Centex, experienced online-market players.

Blockchain Wave at Rixos Downtown Antalya is a lounge style conference for 1,000 participants with a themed networking after-party on the Mediterranean coast. Listen to speakers from different regions of the world in a relaxed environment. At the exhibition, guests can find new partners and hold discussions in the comfortable networking lounges. Later on, Blockchain Wave participants will go to a themed after-party show, where you have the chance of getting to know partners and clients better in an informal party atmosphere. The mystery theme of the show is to be announced a month before the event.

  • 14  speakers from Europe, Asia and the CIS
  • 2 panel discussions
  • 8 hours of useful content
  • 30  promo stands at exhibition
  • 3 networking lounges with drinks and snacks
  • 1 unique costumed after-party show!

The main goal – the organization of a meeting place on the Mediterrenean coast where IT, blockchain and crypto currency specialists and influencers can to network and relax at. Antalya is an ideal location, with convenient international connections allowing guests from Europe and Asia to come together to negotiate partnerships, socialise and enjoy luxurious resort facilities and warm climate. logistics for the meetings, negotiations and leisure of guests from Europe and Asia. Here, the leaders of innovative projects can share their international experience, establish new business connections and enjoy their leisure time, before celebrating their deals at the impressive after-party.

For whom:
Blockchain start-ups, crypto funds, investors, crypto exchanges and wallets, traders, miners, developers and visionaries.

Topics include:

  • Crypto trading in 2021
  • Investing in blockchain projects in current conditions
  • New trends: DeFi, crowdfunding and tokensale-Mining in 2021
  • The legal aspect of crypto-currency regulation in different countries.
  • Decentralised solutions for the modern world-Blockchain and crypto-trading training schemes.

You are welcome!

Crypto Broker AG, the brokerage division of Crypto Finance Group, receives the FINMA Securities House Licence 20815

The Crypto Finance Group brokerage, Crypto Broker AG, has been granted a licence as a securities house with a bilateral trading facility by FINMA, the Swiss Financial Market Supervisory Authority. The licence is recognition of the group’s consistently professional approach to crypto asset trading, liquidity provision, and innovation in financial services, making it a business-to-business partner of choice for institutional investors and leading financial players. This significant milestone caps a successful previous year for the group, with the brokerage trading over USD 1 billion in assets in 2020.

Crypto Finance is one of the few crypto brokers worldwide fulfilling the licencing requirements that securities firms active in the established financial markets do. Once effective, this licence also brings new business potential in trading security tokens.

“Getting the securities house licence for our brokerage is a pivotal moment for us. It means that we will be able to offer our professional – and regulated – services to even more financial institutions, enabling them to enter this new asset class. The licence also recognises our team’s dedication and expertise,” says Jan Brzezek, founder and CEO of the Crypto Finance Group.

Rupertus Rothenhaeuser, CEO of Crypto Broker AG adds, “Today’s announcement marks a milestone in achieving the Crypto Finance Group vision: providing professional products and services for the evolving digital asset universe. Given last year’s exponential growth in digital asset operations with our clients, we expect continued business expansion in 2021.”