EOS Flips Litecoin, Old Stellar Bug Resurfaces, LocalBitcoins.com Introduces New Verifications And FBI Busts Darknet Drug Ring — The Crypto2Cash Chronicle
Here’s your daily overview of important, interesting and market moving news from the crypto space, summarized by the Crypto2Cash team. Happy reading!
Eos flips Litecoin
Most top 20 currencies have continued trading sideways during the last 24 hours, with Bitcoin managing to stay above the psychologically important $4,000 mark, currently trading at $4,010. EOS continues to outperform other assets and currently is up by 5%, trading at $4.320. The asset managed to overtake Litecoin and now ranks 4th in total market capitalization for the first time ever.
Old Stellar bug resurfaces
Cryptocurrency intelligence company Messari continues to shock the crypto world, this time publishing a report about an old Stellar inflation bug from 2017. The report stated that an unknown hacker exploited a coding mistake in the Stellar code and was able to create 2.25 billion XLM, worth about $10 million at the time and equivalent to nearly a quarter of the circulating supply. The hacker was able to sell all these tokens on exchanges. The Stellar foundation reacted by burning an equivalent quantity of tokens, meaning that the circulating supply never changed. Messari further noted that it was the first media to ever report on this hack.
LocalBitcoins.com introduces new verifications
LocalBitcoins, one of the oldest peer-to-peer Bitcoin exchange platforms and one of the last online sites where people could buy Bitcoin anonymously, will be taking steps to change it’s AML and KYC policies. The exchange was forced to make these changes due to the introduction of a new regulation in Finland, where the exchange is located. Customers now have to walk through a basic verification process before purchasing bitcoins, a fairly normal procedure in the industry. However customers are less than welcoming to the new changes, many of them having chosen the exchange due to it’s high anonymity.
FBI busts Darknet drug ring
Yesterday the FBI announced the result of its latest dark web investigations, called operation SaboTor. The operation resulted in 61 arrests, with nearly 300 kilos of drugs confiscated and more than $4,5 million in cryptocurrency and $2,48 million in cash found. Tracking the wallet addresses was a big part of the operation and with more and more regulations coming it’s getting increasingly hard for criminals to purchase illegal goods with cryptocurrencies.
