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ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform

Despite abandoning plans to build its own Bitcoin wallet, ABN AMRO is not quite done with blockchain tech. The Dutch banking giant has announced plans to launch a decentralized trade inventory platform in collaboration with Accenture and ING Bank, according to a press release (spotted by CoinDesk). Codenamed Forcefield, the project will employ Internet-of-Things (IoT) devices to provide “real-time insight into trade inventories.” ABN AMRO claims the platform’s monitoring features “will lead to m...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork


Hackers made $32K in 7 weeks by fixing bugs in cryptocurrency projects

In the past seven weeks, white hat hackers earned at least $32,150 by fixing security flaws in popular cryptocurrency and blockchain platforms like TRON, Brave, EOS and Coinbase. According to data reviewed by Hard Fork, 15 blockchain-related firms have paid rewards to security researchers between March 28 and May 16, split across 30 publicly-released bug reports. Omise, the software firm behind cryptocurrency OmiseGo, fielded the most fixes (six). Blockchain-powered prediction market Augur discl...
Tags: Startups, Insider, Hard Fork


Bitcoin’s price has pumped beyond its ‘intrinsic value,’ JPMorgan says

Banking behemoth JP Morgan Chase & Co. has taken another shot at Bitcoin, claiming the cryptocurrency‘s latest rally has pushed its price beyond its “intrinsic value.” “Over the past few days, the actual price has moved sharply over marginal cost,” JPMorgan analysts wrote in a note obtained by Bloomberg. “This divergence between actual and intrinsic values carries some echoes of the spike higher in late 2017, and at the time this divergence was resolved mostly by a reduction in actual prices.” T...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork


Moonday Mornings: Banks pour $50M into blockchain, Bitcoin gets on CBS’ 60 Minutes

Another weekend, another batch of stories you might’ve missed. Or as we like to put it: welcome back to another edition of Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain stories. So, without further ado, let’s get into it: 1. Facebook has set up its secretive cryptocurrency and blockchain project, Libra, in Switzerland, Reuters reports. According to Geneva’s commercial register, the social media giant filed the registration papers on May 2, with plans to...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork


Dutch bank ABN AMRO ditches its Bitcoin wallet because it’s ‘too risky’

Dutch bank ABN AMRO has decided to cancel its plans for a custodial cryptocurrency wallet, called Wallie, claiming that digital assets are “just too risky.” Back in January, the rumor mill spun into action after images surfaced on Twitter that appeared to suggest Dutch bank ABN AMRO was designing a cryptocurrency wallet. But now the bank’s senior press officer, Jarco de Swart, confirmed to Hard Fork in an email that the bank has “decided not to follow up on the Wallie enquiry [sic].” “We have ap...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork


Dark web user gets 42 months in prison for buying child abuse imagery with Bitcoin

A man in the US has been sentenced to 42 months in federal prison for purchasing, downloading, and concealing child abuse imagery he got on the dark web and paid for with Bitcoin. According to court documents, starting in May 2017, Stephen P. Langlois, Jr. used Bitcoin to subscribe to an overseas child pornography website from which he downloaded over 100 child pornography videos. Langlois, who aside from the prison sentence will be subject to a subsequent supervision of 10 years after he’s rele...
Tags: Startups, US, US District Court, Cryptocurrency, Providence, Langlois, Hard Fork, Stephen P Langlois Jr


Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments. Despite first being filed in December 2016, Amazon’s patent application was granted earlier this week and appears to outline a system that uses Proof-of-Work to prevent distributed denial-of-service (DDoS) attacks. “One way to ...
Tags: Amazon, Startups, Bitcoin, Seattle, Cryptocurrency, Blockchain, Hard Fork


Blockchain startups RepuX and JoyToken pull exit scam after raising $8M in ICOs

Even thought it’s 2019, initial coin offering (ICO) exit scams are still being uncovered. The latest to surface has seemingly conned over $8 million from would-be investors. It appears that blockchain startups RepuX and JoyToken have conned investors out of $4.7 million and $3.3 million, respectively. An investigation by Hard Fork revealed that their UK offices were dissolved earlier this week, as confirmed by Companies House, the registrar of UK-based companies. RepuX claimed that it was trying...
Tags: Startups, UK, Cryptocurrency, Blockchain, Companies House, Hard Fork, Repux, JoyToken


Big, greedy Ethereum whales account for 33 percent of cryptocurrency’s supply

Ethereum whales account for just 7 percent of transaction activity in the market – but they control a third of the cryptocurrency’s entire circulating supply. That’s according to a new study by Chainanalysis which found that although these whales don’t have a sizeable impact on Ether’s price, their large sell-offs do make the market more volatile on a daily basis. For context, whales are defined as the top 500 cryptocurrencies excluding services, who keep their coins off exchanges. As of May 1, ...
Tags: Startups, Cryptocurrency, Hard Fork


‘PLEASE DO NOT SEND ANY DEPOSITS,’ begs dying shitcoin factory Cryptopia

It seems some overzealous cryptocurrency traders didn’t get the memo that exchange service Cryptopia is shutting down – and they’re still trying to make deposits to the platform. In a tweet earlier today, the embattled exchange warned users not to send funds to the trading platform. The message was written in all caps, so you know they meant it. PLEASE DO NOT SEND ANY DEPOSITS TO CRYPTOPIA. — Cryptopia Exchange (@Cryptopia_NZ) May 16, 2019 It’s odd the exchange hadn’t blocked deposits – especial...
Tags: Startups, New Zealand, Cryptocurrency, Blockchain, Hard Fork, Cryptopia


Stellar’s ‘decentralized’ blockchain crashed for 2 hours and nobody realized

Stellar’s blockchain suffered a “cascading failure” that halted transactions for roughly two hours on May 15. Breaking: yesterday the Stellar network went down for about 2 hours… only those who run validators noticed it. no new transactions were added for ~2 hours. network stats:https://t.co/eSRYFPjDQi — Tim Swanson (@ofnumbers) May 16, 2019 “What basically happened was that a critical mass of nodes went down causing a cascading failure and so the entire network went down but because it isn’t fr...
Tags: Startups, Cryptocurrency, Blockchain, Swanson, Tim Swanson, Hard Fork, Post Oak Labs


Supply chain managers don’t want to buy blockchain

Despite the excitement currently surrounding blockchain, it seems supply chain managers are falling out of love with the decentralized technology. Procurement industry leaders discussed blockchain at the Supply Management Forum in London last week and spoke of how they are still waiting for the value of blockchain adoption to be proven. Organizations aren’t investing in blockchain technology yet because “It lacks practical application,” Supply Management Magazine (SMM) reports. Jaguar Land Rover...
Tags: Startups, London, Jaguar Land Rover, Cryptocurrency, Blockchain, Richard Harding, Hard Fork, Supply Management Forum, Supply Management Magazine SMM


ICO fraud update: DJ Khaled and Mayweather walk free, Kevin Hart next to be investigated

The US Court for the Southern District of Florida has dismissed the case of initial coin offering (ICO) fraud against DJ Khaled and boxer Floyd Mayweather. The court decided that despite Khaled and Mayweather shilled defunct cryptocurrency firm CentraTech (and its associated ICO of CTR tokens) on their social media profiles, they did not play a big enough role in its promotion to warrant further legal action. “The Plaintiff’s complaint fails to establish that Mayweather [and Khaled] ‘successfull...
Tags: Startups, Kevin Hart, Floyd Mayweather, Cryptocurrency, Blockchain, Ico, Khaled, Mayweather, Hard Fork, CentraTech, US Court for the Southern District of Florida


Blockstream’s new ‘Bitcoin ICO’ platform is handy – but you still need to know the laws

The blockchain infrastructure firm that sent a Bitcoin satellite into space is launching a platform to allow businesses to offer security tokens on the Liquid Network. Blockstream announced the launch of “Liquid Securities” earlier today at CoinDesk’s blockchain and cryptocurrency conference, Consensus. Liquid Securities claims to let businesses issue and manage token offerings. Firms can also use its API for “additional compliance and legal services,” the announcement reads. “With the launch of...
Tags: Startups, Blockstream, Cryptocurrency, Blockchain, Hard Fork, Liquid Network Blockstream, Consensus Liquid Securities, Blockstream CSO Samson Mow


Opera will support ‘multiple blockchains’ in its browser, starting with TRON

Opera will soon be adding native support for the TRON blockchain in its cryptocurrency-focused browser. Among other things, the new integration will make it possible to natively use TRON-powered dapps and tokens within the browser. Opera will also add support for TRON‘s TRX and other TRC-standard tokens in its built-in cryptocurrency wallet for desktop and mobile (available on both iOS and Android). “We are excited that Opera, a mainstream browser with hundreds of millions of users, will now sea...
Tags: Startups, Apps, Cryptocurrency, Blockchain, Hard Fork, Justin Sun


RIP Cryptopia, the seminal exchange that supported over 500 shitcoins

New Zealand-based cryptocurrency exchange Cryptopia is officially gone. All trade has been ceased, and authorized liquidators have been appointed. A message posted Wednesday confirmed the business had failed to recover from January’s crippling hack. Attackers are thought to have stolen roughly $16 million worth of cryptocurrency directly from the exchange’s wallets. “Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liqui...
Tags: Startups, New Zealand, Cryptocurrency, Blockchain, Hard Fork, Cryptopia


Coinbase doubles down on expansion, now available in 103 countries

Cryptocurrency exchange Coinbase has just announced that it now offers trading in over 100 countries, after adding support for a further 50 countries. It’s also doubling down on its stablecoin, making it available in 85 countries. In an announcement published earlier today, Coinbase revealed that crypto-to-crypto trading is now available in 85 countries after expanding global support for its proprietary stablecoin. This expansion goes for both Coinbase and Coinbase Pro. This time last year, Coin...
Tags: Startups, Coinbase, Cryptocurrency, Blockchain, Hard Fork


This site generates batshit crazy blockchain use-cases that are stupidly real

The blockchain space has struggled with a lack of legitimate use-cases — but a new site solves that problem by generating revolutionary projects on demand. Thanks to marketeer Tamas Torok, cryptocurrency entrepreneurs can simply click a button to receive “inspired” applications of distributed ledger technology like the one below. “I thought it would be great to create an app that generates funny crypto project names with a bullshit indicator of 100 percent,” he said. “As an investor, I used to g...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork, Tamás Török, Torok


Bitfinex raised $1 billion in 10 days by selling a token redeemable for Tethers

Embattled cryptocurrency exchange Bitfinex raised $1 billion in 10 days with an initial exchange offering (IEO), money it hopes will alleviate concerns of its financial stability. Bitfinex CTO Paolo Ardoino tweeted Monday that private firms, both inside the cryptocurrency sector and out, had contributed more than $100 million each throughout the fundraising. A “legion” of individuals who made investments over $1 million were also said to have bought tokens, which are intended to be redeemable fo...
Tags: Startups, Cryptocurrency, Blockchain, Bitfinex, Hard Fork, Bitfinex CTO Paolo Ardoino


Samsung wants to blockchainify its budget phones

Despite the lackluster launch of the latest Samsung Galaxy S10’s cryptocurrency and blockchain features, the Korean tech giant is reportedly looking to trickle the technology down to its budget smartphones. In an announcement yesterday, senior managing director of Product Strategy at Samsung’s Wireless division, Chae Won-cheol, said “We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,” Business Korea reports. It’s also r...
Tags: Startups, Samsung, Canada, United States, Korea, Cryptocurrency, Blockchain, Product Strategy, Hard Fork, Chae Won cheol


PayPal snitched on bullish movie pirate who bought $1M in cryptocurrency from Coinbase

US authorities have seized over $4 million worth of cryptocurrency and cash following a movie piracy investigation conducted by Homeland Security Investigations (HSI) and Motion Picture Association of America (MPAA). But here’s the saucy part: it was PayPal that tipped off the detectives to the case. The investigation dates back to October 2013, when PayPal pointed HSI to two supposedly illegal streaming services (Noobroom.com and Noobroom7.com), TorrentFreak reports. Curiously, the owner of the...
Tags: Startups, Oregon, US, Paypal, Coinbase, Cryptocurrency, Blockchain, Motion Picture Association of America MPAA, Homeland Security Investigations HSI, Hard Fork


Dubai court rejects appeal for harsher sentencing of Bitcoin scam trio

Prosecutors seeking a harsher sentence for a group of Bitcoin scammers have seen their hopes slashed after a court rejected their claim. As previously reported by Hard Fork, the group of men scammed Chinese businessmen out of approximately $250,000 in an online Bitcoin scam. The scam ring of one man from India, one from Bangladesh, and the rest from Pakistan. All were initially charged with confinement and theft. Each of the men from Pakistan were handed a one year prison sentence by Dubai Crimi...
Tags: Startups, India, Pakistan, Dubai, Bangladesh, Cryptocurrency, Dubai Criminal Court, Hard Fork


Bitcoin breaks past $8,000 to hit yet another 2019 price record

Bitcoin’s price is rallying, surpassing the $8,000 for the first time this year. According to CoinMarketCap, the digital currency last stood at around $8,000 in July last year. It comes after the world’s most famous cryptocurrency reached a new yearly high, pushing past $5,600 earlier this month. It’s difficult to ascertain what has caused Bitcoin‘s price to surge in recent weeks, but as always speculation has been rife. Just yesterday, Hard Fork reported on Bitcoin‘s upward movements, noting ho...
Tags: Startups, Cryptocurrency, Coinmarketcap, Hard Fork


Australian ‘influencer’ Belle Gibson faked cancer and used profits to trade cryptocurrency

Authorities are investigating an Australian social media influencer‘s bank accounts after she defrauded her followers with fake cancer claims and used the money to trade cryptocurrency. Annabelle “Belle” Gibson has been systematically lying to her followers and using her company’s profits to trade cryptocurrencies, futures, and place sports bets, the Canberra Times reports. Investigators are examining Gibson’s accounts after she failed to pay a AUD$410,000 ($285,000) fine, handed to her in Septe...
Tags: Startups, Cryptocurrency, Blockchain, Annabelle, Gibson, Belle Gibson, Canberra Times, Hard Fork


NY’s Bitcoin Bandit ordered to pay $75M to SIM-swap victim

Michael Terpin, the Bitcoin investor who had $24 million worth of cryptocurrency stolen from him in a SIM-swapping hack, has been awarded a payout three-times the size of his original loss. Los Angeles Superior Court has ordered New York-based Bitcoin Bandit Nicholas Truglia to pay Terpin $74.8 million in compensation, Reuters reports. Truglia and his gang of 25 accomplices used SIM-swapping to gain access to and control Terpin’s cryptocurrency accounts in early 2018. The gang drained his accoun...
Tags: Startups, New York, Cryptocurrency, Blockchain, Reuters, Los Angeles Superior Court, Hard Fork, Terpin, Truglia, Bitcoin Bandit, Michael Terpin the Bitcoin, Bitcoin Bandit Nicholas Truglia


BitMEX: IEOs raised $39M, but projects keep 95% of tokens on average

Initial exchange offerings (IEOs) have raised $38.9 million with token sales in 2019, reports BitMEX Research, the analytics arm of cryptocurrency exchange BitMEX. While early IEO investors have had lots of opportunity to profit, returns have been typically poor once the tokens become tradable. On average, the teams behind IEO tokens were found to have made just 4.4 percent of the total supply available for purchase. The remaining tokens will be kept to fund development of related projects by se...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork, Binance


BitMEX: IEOs raised $39M, but project teams have kept 95% of tokens

Initial exchange offerings (IEOs) have raised $38.9 million with token sales in 2019, reports BitMEX Research, the analytics arm of cryptocurrency exchange BitMEX. While early IEO investors have had lots of opportunity to profit, returns have been typically poor once the tokens become tradable. On average, the teams behind IEO tokens were found to have made just 4.4 percent of the total supply available for purchase. The remaining 95.6 percent of the tokens will be kept to fund development of re...
Tags: Startups, Cryptocurrency, Blockchain, Hard Fork, Binance


SIM-swappers face hundreds of years in prison for $2.4M cryptocurrency theft

An Irish man, part of a hacking group called “The Community,” is facing upwards of 100 years in a US prison after allegedly stealing over $2 million worth of cryptocurrencies in a series of SIM-swap attacks. Conor Freeman, a 20 year-old Irish man, was named as part of the group and – if found guilty – could be extradited to the US and face over 100 years in prison, the Independent IE reports. Five other individuals were named as being part of The Community in documents from a Michigan, US court ...
Tags: Startups, US, Cryptocurrency, Michigan US, Hard Fork, Conor Freeman


Bitcoin is having a great 2019; altcoins, not so much

Bitcoin‘s most-recent pump to $7,000 was the strongest price rally over a six-week period since just before the famous 2017 bull-run, reports boutique analytics firm Delphi Digital. It also means Bitcoin has officially recovered all of its losses from November 2018’s monstrous market dumping, when the price of BTC fell more than 50 percent in a matter of weeks. Bitcoin is dominating the cryptocurrency market In recent commentary, which has been shared with Hard Fork, Delphi Digital noted that th...
Tags: Startups, Bitcoin, Btc, Cryptocurrency, Blockchain, Hard Fork, Delphi Digital


HTC’s new $300 blockchain phone will double as a Bitcoin node

Taiwainese mobile phone manufacturer HTC is launching a more affordable blockchain phone with full Bitcoin node capabilities. Originally announced last month, the Exodus 1S will be launching in Q3 this year and will have an extra SD card to support its blockchain capabilities. For what it’s worth, HTC was gunning to include node capabilities in the Exodus 1, but the company ultimately decided to drop the functionality for the device’s first iteration – perhaps due to Google’s updated Play store ...
Tags: Google, Startups, Htc, Cryptocurrency, Blockchain, Hard Fork



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