ICO Alert Crypto Minute: January 30, 2018
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BTCC, Formerly the World’s Oldest Bitcoin Exchange, Acquired by Hong-Kong Investment Fund
A Hong Kong–based blockchain investment fund has acquired BTCC, a China-based Bitcoin exchange. According to Bitcoin Magazine, this acquisition will enable BTCC to exit the Chinese market and focus on the global adoption of cryptocurrencies. BTCC was the world’s oldest bitcoin exchange.
London Football Exchange to Use Ripple and Stellar Networks to Support New Fan and Club Ecosystem
The London Football Exchange (LFE) is launching a cryptocurrency to power a blockchain-based fan and club ecosystem comprised of sports, media, and entertainment. According to Forbes, the LFE claims it will use the Ripple and Stellar networks to support its platform. The new platform will enable fans to participate in various experiences — such as games, tours, and VIP experiences.
Bee Token and WeTrust Partnering to Create Decentralized Airbnb
Two San Francisco-based blockchain startups are collaborating to create a decentralized platform similar to Airbnb. According to CoinDesk, Bee Token and WeTrust are developing a “decentralized insurance layer based on crowdsourced security deposits.” The deposits would “act as a financial buffer” for the hosts listing on Bee Token’s Beenest platform and guests.
Canada to Test Blockchain-Based Digital ID and Border Security Project
In collaboration with the World Economic Forum (WEF) and its partners, the Canadian government is testing a digital ID and border security project, in which travelers share their digital IDs with airports and authorities in advance of traveling. According to Cryptovest, the project is called Known Traveller Digital Identity. It applies blockchain, artificial intelligence (AI), and biometrics to “enhance security, simplify traveling procedures, and address efficiently cyber-terrorism threats.”
Philippines Drafting Rules to Regulate Cryptocurrency Transactions
According to Reuters, the Philippines’ Securities and Exchange Commission (SEC) announced it is creating rules to protect investors and reduce the risk of fraud during cryptocurrency-related transactions. The regulations will address the cybersecurity of cryptocurrency markets and setting standards on both cryptocurrency issuers and potential investors. The Philippines’ SEC “has yet to approve any public sale of cryptocurrencies and is investigating unlicensed sellers.”
Hacker Steals USD 4 Million-Worth of IOTA After Setting Up Fake Seed Generator Site
According to BleepingComputer.com, a hacker stole USD 4 million-worth of IOTA after setting up a fake seed generator site for about six months. The hacker created a site called, iotaseed.io, where he/she generated an 81-character long IOTA seed, which is supposed to be random. Instead, the hacker repeatedly used a fixed seed, 4782588875512803642, and a counter variable that increased by one every time function was run. On January 19, he used the site to collect private keys for IOTA wallets to steal money from victims’ accounts.
