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Paxtradings Crypto Minute: March 13, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: March 13, 2018

Binance Offers $10 Million to Those Who Report Hackers

Binance is offering USD 10 million in bounties to those who help the exchange identify catch hackers. According to CNET, Binance has set aside USD 250,000 specifically for information on those who tried to steal millions of dollars-worth of cryptocurrency on March 7. Binance has claimed that all funds are safe from that hack attempt. Information may be sent to bounty@binance.com.

John Oliver Dedicates Featured Segment to Potential and Risks of Cryptocurrencies

On his show, “Last Week Tonight,” John Oliver dedicated 20 minutes to giving a high-level overview of the promises and risks of cryptocurrencies. As reported by GeekWire, Oliver conceded that cryptocurrencies present unique opportunities, but are also vulnerable to scams and fraud because of the lack of regulation. Oliver cautioned viewers, “The important thing to remember here is this is a brand new, very complicated space and literally nobody knows how it’s going to develop so you need to be careful.”

Giza ICO Steals USD 2 Million-Worth of Cryptocurrency from Over 1,000 Victims

According to CNBC, the administrators of the Giza ICO have stolen over USD 2 million-worth of cryptocurrency. CNBC has suggested that “the individuals linked to the incident may be connected to another recent theft.” The scammers created fake LinkedIn profiles and copied pictures from another user’s Instagram to create a false identity. Giza, whose website is no longer active, had more than 1,000 investors and only USD 16-worth of Ethereum remains in its crowdsale wallet.

Malaysia’ Central Bank Issues Warning to Coinzer ICO for Inappropriately Using Country Symbols

Malaysia’s central bank, Bank Negara Malaysia (BNM), has issued a warning to Coinzer for violating rules to promote its token sale. According to CoinDesk, BNM is accusing Coinzer of using the BNM logo and the Jata Negara in the Coinzer token design, whitepaper, and website. CoinDesk also points out that “the design also incorporated the 14-pointed Star of Malaysia symbol and Malaysia’s country code.”


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