- The bitwise report concludes 95% of the reported volumes in Bitcoin are fake
- Bithumb hacked for millions of EOS and XRP
- Coindelta exchange succumbs to Indian Government’s lack of crypto regulations
- SEC delays Bitwise’s and NYSE Arca Bitcoin ETF Application
- Indian Apex court differs Crypto Case hearing on request of the Government
The Bitwise report concludes 95% of the reported volumes in Bitcoin are fake
This week a Bitwise report literally shook the crypto industry. The report found that 95% of the trading volume in Bitcoin was fake, ginned up through techniques like “wash trading” where a person buys and sells an asset at the same time. The report analyzed 81 exchanges and concluded that the fake traffic was being generated by 71 of them, in order to lure in lucrative “initial coin offerings” and the associated fees, which can run to millions of (fiat) dollars.
Bithumb hacked for millions of EOS and XRP
The world woke to a Saturday with the news of another hack and this time it was Bithumb. The leading exchange faced its second hack in less than a year and this time the hackers managed to steal 3 million EOS coins and 20 million XRP. The news broke late on Saturday morning (UST) as the crypto entrepreneur and analyst Dovey Wan relayed reports apparently coming from a security firm who were auditing for Bithumb.
Coindelta exchange succumbs to Indian Government’s lack of crypto regulations
Well, the Indian Policy paralysis towards cryptocurrency has taken another exchange down and this time its CoinDelta. It was reported by the founder using the medium channel that the exchange was shutting down operations on 30 March at 2 pm IST.