Weekly Highlights: Crypto News

✌️The weekend mode is on✌️

Grab some snacks and dive into the world of crypto news!

What’s new on WhiteBIT?

➕ACED listed!

• We are glad to announce that ACED is joining us!
• AceD (ACED) is an ERC-20 token functioning in the AceDBets ecosystem, a sportsbook delivering top-notch user experience.
• ACED has a fixed supply of 200 Million units.
• ACED is paired against BTC.

➕AMB listed!

• AMB is listed on WhiteBIT!
• Amber (AMB) is a token functioning in Ambrosus ecosystem, a blockchain-based IoT network for pharma and food businesses.
• AMB can be used to reward nodes for validating operations running on the platform and to create digital records of physical assets.
• AMB is paired against BTC.
• Enjoy a 50% off trading fee for two weeks and get ready for the trading competition!

🎁MWC Bounty Has Ended!

• We are delighted that so many people have decided to participate.
• All entries were amazing, and we had a lot of fun working on this competition.
• The full list of winners is available on WinPlay.
• Congratulations to all the winners!

What’s new in the world of crypto?

📉Daily Profitability for Ethereum Miners Hits Over 2-Year High

• With Ethereum transaction fees soaring, the daily profit that can be achieved by miners on the network is now at its highest point in 27 months.
• Data from BitInfoCharts shows the daily profitability for Ethereum miner operators is at $5.8 per 100 megahashes second (MH/s) of computing power — a level not seen since early May 2018.
• The increasing profitability is a result of the recent price rise of ETH and a surge in transaction fees brought on by increasing levels of DeFi activities on Ethereum.
• As a result, most of Ethereum mining equipment is now able to operate with a profit margin above 90% even at an electricity cost of $0.05 per kilowatt-hour.
• Some more state-of-art equipment can mine with a profit margin of as high as 97%, according to data tracked by mining pool F2Pool.
• At the time, ETH was changing hands at around $320 and daily mining profitability was about $3.27 per 100 MH/s.

🚫US ‘foils’ militant cryptocurrency fundraising

• The US government says it has thwarted attempts by militant groups to raise funds using digital currency, or cryptocurrency.
• The campaigns involved Hamas’ military wing, the al-Qassam brigades, al-Qaeda and the Islamic State group (IS).
• US officials said on Thursday that $2m in cryptocurrency had been recovered.
• Hundreds of cryptocurrency accounts, four websites and four Facebook accounts were also seized, the justice department announced in a statement.
• The al-Qassam Brigades used social media and its official websites to solicit bitcoin donations, according to the justice department.
• It said government agents seized control of one website to redirect payments away from the group, which is the armed wing of the Palestinian militant Islamist organization Hamas.

💰Venezuela May Soon Be Collecting Taxes in Crypto

• The Bolivarian Council of Mayors in Venezuela signed the so-called “National Tax Harmonization Agreement” for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions.
• According to the government, the vice president of Venezuela, Delcy Rodríguez, will be in charge of implementing a single registry of taxpayers through a digital consultation tool.
• She will also be in charge of creating an information exchange and monitoring system for companies to record payments in the state cryptocurrency.
• The non-Maduro-supported municipal governments are continuing to collect tax payments in the Venezuelan fiat currency, Bolívar, as some do not have the appropriate technology to process Petro payments.

📱Mobile Crypto Scam Targets Wealthy Indian Investors

• A new cryptocurrency scam in India is targeting wealthy individuals using a fake mobile app.
• According to India TV News, cybercriminals are targeting high-income individuals across India.
• Victims receive messages through social media groups, asking them to sell and buy Bitcoin through a mobile app.
• This app, which supposedly acts as a crypto exchange, is actually entirely fraudulent.
• Manan Shah, founder and CEO of Avalance Global Solutions, said that an unidentified man lost over $50,000 while dealing with one of the fake platforms.
• One of the most significant cases involved another unnamed Indian businessman who was scammed out of the USD equivalent of $3 million.

🕵Tor Network Compromised by Single Hacker Stealing Users’ Bitcoin: Report

• A single malicious entity controls nearly a quarter of all nodes used on the anonymous internet provider Tor Network and is using its position to steal bitcoin and other cryptocurrencies.
• A cybersecurity analyst, using the pseudonym “nusenu,” said in a report this week, a hacker now controls approximately 23% of the Tor Network’s exit relay capacity.
• The Tor Network provides anonymous internet access with voluntarily run relays that route traffic in order to obfuscate users’ traceable and identifiable IP addresses.
• The malicious agent primarily focused on bitcoin mixer services, replacing wallet addresses, so the mixer returns “clean” funds to the hacker rather than the original user.
• A lack of enforcement on the Tor Network means the hacker has more than doubled her/his share of exit relays from under 10% last December, nusenu said.
• It’s unclear how much cryptocurrency has been stolen and whether the malicious agent is engaged in other attacks.

Stay tuned for more news!

WhiteBIT Team