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Illegal Crypto Miners in Malaysia Stole $723M Worth of Electricity Since 2018 Illegal crypto mining operators in Malaysia have stolen $723 million worth of electricity between 2018 and 2023. Malaysia’s Deputy Minister of Energy Transition and Water Transformation, Akmal Nasrullah Mohd Nasir, revealed this during an event where approximately $467,000 worth of seized items, including Bitcoin mining machines and electrical equipment, were destroyed. Nasir emphasized that these illicit mining operations not only harm Malaysia’s state-controlled power operator but also impact local communities in affected areas.
UK Regulatory Authority Warns the Public Against Solicitor Bitcoin Scam
The UK’s Solicitors Regulation Authority (SRA) issued a warning on July 8 about a sophisticated email scam involving fraudsters impersonating solicitors to demand Bitcoin.
DekaBank Issues Digital Bond Without Intermediaries in ECB Trials DekaBank announced on July 11 that it issued a digital bond directly to Melzer Bank using the European Central Bank’s Distributed Ledger Technology (DLT) settlement trials. According to a recent report by Ledger Insights, DekaBank issued the digital bearer bond without using a central securities depository as part of the ECB’s wholesale DLR settlement trials.
Sophisticated Domain Registry Attack Targets Multiple DeFi Applications- Blockaid On July 11, a sophisticated domain registry attack compromised multiple decentralized finance (DeFi) applications, redirecting users to malicious websites. Several protocols have issued warnings to their users regarding the attack. Blockchain security platform Blockaid identified that the attacker exploited domain names provided by Squarespace, a popular website-building service. This breach affected prominent DeFi protocols, including Compound Finance, and potentially endangered many other applications within the ecosystem. The attackers manipulated the domain name system (DNS) entries, effectively intercepting users attempting to access legitimate DeFi platforms and directing them to phishing sites designed to steal sensitive information and funds.
Coinbase to Launch ‘One-Stop’ App for Managing Crypto, NFTs, and DeFi Positions Coinbase has announced the upcoming launch of a new web application designed to provide users with a single platform for viewing and managing their entire crypto exposure, including tokens, NFTs, and DeFi positions. This initiative aims to streamline the user experience and integrate various functionalities into one cohesive interface.
Texas Jury Acquits Crypto Miner Marathon of Noise Violations Following Local Residents’ Complaints A Texas jury has acquitted Marathon Digital’s site manager, David Fischer, of 12 noise violations linked to the company’s crypto mining operations near Granbury, Texas. The case centered on allegations that Marathon’s mining site emitted noise levels capable of causing health issues among nearby residents. According to a report by the Fort Worth Star-Telegram on July 10, Fischer was cleared of all charges after a six-person jury deliberated on claims that Marathon’s operations exceeded permissible noise limits.
Scientific Jack Dorsey’s Block Strikes Deal to Supply Bitcoin Mining Chips to Core Scientific
Jack Dorsey’s Block has sold its first 3-nanometer mining ASICs to Bitcoin miner Core Scientific, according to a July 10 statement. The deal’s financial details have not been disclosed yet. However, the mining chips are expected to boost Core Scientific’s existing mining capacity of 24.6 exahashes per second by an additional 15 exahashes per second. Also, this deal includes options for significantly more volume. It is one of the largest bitcoin mining ASIC agreements in the industry in terms of hashrate.
Trump Scheduled to Speak at Nashville Bitcoin Conference Republican Presidential hopeful Donald Trump will be addressing one of the crypto industry’s upcoming largest conferences at Nashville, Tennessee, later this month. The conference organizer updated Wednesday that Trump would be the event’s main ‘headliner’. The Bitcoin 2024 conference is scheduled from July 25-27. Trump announced his support for the American Bitcoin industry in May 2024, advocating for financial freedom and the growth of the U.S. Bitcoin industry on the global stage,” the conference website noted. The former US President will be taking up the stage for 30 minutes, starting 2.00pm CT on the last day of the conference – 27 July, a conference spokesperson told CoinDesk. Some speakers said that they received a mail from organizers, informing rearrangement of slots to accommodate “a very special guest.” The presumptive Republican presidential nominee will be joined by independent candidate Robert F. Kennedy at the conference. Trump’s presence at one of the largest industry conferences, again denotes his strong foot to turn crypto enthusiasm into votes.
Terraform Labs to Sell 4 Businesses Amid Bankruptcy Proceedings Bankrupt crypto firm Terraform Labs has announced plans to sell four of its businesses as part of a $4.5 billion deal with the United States Securities and Exchange Commission (SEC). The four businesses that Terraform Labs is looking to sell are its portfolio tracking platform Pulsar Finance, crypto wallet platform Station, the no-code decentralized autonomous organization (DAO) management platform Enterprise, and its smart contract automation protocol Warp. Terraform acquired Pulsar Finance in November 2023, shortly before filing for Chapter 11 bankruptcy in January. Enterprise was launched a year earlier in November 2022.
Scam Operators Flourish on Huione Guarantee, Elliptic Research Reveals Huione Guarantee, an online marketplace operated by the Cambodian conglomerate Huione Group, has been involved in facilitating online scams in Southeast Asia. The platform has facilitated transactions exceeding $11 billion, with a significant portion of these funds linked to money laundering and cyber scams, according to a recent research report by Elliptic. Using blockchain analytics, the Elliptic research team was able to quantify the cryptocurrency transactions on the Huione Guarantee. The transparency of the blockchain allowed for tracking and blocking these crypto transactions.
The German government sold another 5,000 BTC and now has only 13,000 bitcoins left. The times of German sales are coming to an end.
Blackrock and Fidelity buy all this 😅🇺🇲
Imagine that in 2030 Bitcoin will be worth 1 million dollars. Then the Germans will want to know who exactly made the decision to sell 50 thousand BTC at 56 thousand dollars per piece...
UK’s Potential New City Minister Tulip Siddiq Could Back Tokenization
Tulip Siddiq, reportedly set to become the UK’s City Minister, is expected to support tokenization and digital asset initiatives. According to a recent Bloomberg report, a person familiar with the matter said that Siddiq is expected to be appointed Economic Secretary to the Treasury by the newly elected Prime Minister Keir Starmer.