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Kazakhstan Investigates Crypto Mining Hotel Allegedly Operating as Ponzi Scheme

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Authorities in Kazakhstan have launched an investigation into a mining hotel business suspected of being a crypto pyramid as part of an ongoing crackdown on illegal activities linked to cryptocurrencies. The platform, called Bincloud, lured investors through popular messaging apps. Bincloud…

Crypto Lender Hodlnaut Pauses Withdrawals — Company Cites Market Conditions, Despite Recent Crypto Rally

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On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope…

Debridge Finance Suspects North Korean Hacking Syndicate Lazarus Group Attacked the Protocol’s Team

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According to the co-founder of Debridge Finance, Alex Smirnov, the infamous North Korean hacking syndicate Lazarus Group subjected Debridge to an attempted cyberattack. Smirnov has warned Web3 teams that the campaign is likely widespread. Lazarus Group Suspected of Attacking Debridge Finance…

India Freezes Crypto Exchange Wazirx’s Bank Assets — Binance Claims Acquisition of Wazirx Was ‘Never Completed’

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A major Indian cryptocurrency exchange, Wazirx, has had its bank assets of more than $8 million frozen by the Directorate of Enforcement (ED). The exchange was supposedly acquired by Binance in 2019. However, Binance CEO Changpeng Zhao (CZ) now claims that…

South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto Industry

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A South African professor, Steven Boykey Sidley, has branded as “balderdash” claims by the South African central bank deputy governor that “90% of cryptocurrency transactions” are illicit. The professor also accused the senior central bank official of spreading inaccurate information that…

Despite the White House Debate, Critics Insist US Officially in a Recession After 2 Consecutive Quarters of Negative GDP Growth

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The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a…

Credit Cards Should Not Be Used for Crypto Transactions, Taiwan’s Financial Watchdog Says

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The financial regulator of Taiwan has asked local banks not to allow the use of cards for payments in transactions involving cryptocurrencies, local media revealed. The authority says these assets are risky while associated cash flows are hard to monitor. Taiwanese…

Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers

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Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue…

Sweden Needs Power for More Useful Things Than Bitcoin Mining, Energy Minister Says

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Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it…

South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset

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The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a…