Top Stories This Week
Leading South Korean Crypto Exchange Bithumb Hacked For $30 Mln In Crypto
Bithumb, which has fallen from 6th to 10th place for cryptocurrency exchanges worldwide by trading volume, has had about $30 million worth of cryptocurrencies stolen[1] in an apparent hack. Bithumb has temporarily suspended all deposits and payments, noting that they are moving all assets to a cold wallet and will compensate victims of the hack. The Korean Ministry has since launched[2] a probe into the causes of the Bithumb hack, and Bithumb has promised[3] to reimburse all users.
Mt. Gox Trustees End Bitcoin Sell Offs, Enter Civil Rehabilitation Proceedings
The now-defunct Bitcoin exchange Mt. Gox has now officially entered civil rehabilitation proceedings. As part of the civil rehabilitation, the bankruptcy proceedings have been halted, with the main trustee now ending any further selling of Bitcoins as victims will receive their compensation in BTC rather than fiat[4]
Future Presidential Candidate John McAfee to Stop ICO Twitter Promotion
Crypto enthusiast John McAfee of McAfee Anti-Virus Software and the McAfee Redemption Token will no longer be promoting[5] or working with ICOs due to “threats” from the U.S. Securities and Exchange Commission. The future crypto-friendly presidential candidate had reported earlier this year that he charged $105,000 per tweet, so this announcement could mark a significant loss of income. The SEC has declined to comment on McAfee’s claims.
Goldman Sachs CEO Thinks Crypto Adoption Could Mirror That of Paper Fiat
Lloyd Blankfein, the CEO of Goldman Sachs, said[6] in an interview that the adoption of cryptocurrencies like Bitcoin could occur similarly to how the adoption of paper money replaced gold and silver coins
