Bitcoin price plunges after cryptocurrency exchange is hacked

Your ads will be inserted here by

Easy Plugin for AdSense.

Please go to the plugin admin page to
Paste your ad code OR
Suppress this ad slot.

Security fears rise as South Koreas Coinrail loses about 28m of virtual currency

There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend.

A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows.

The worlds best-known cryptocurrency lost $500 (372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses.

The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets.

Coinrail later said in a statement on its website that its system was hit by cyber intrusion on Sunday, causing a loss for about 30% of the coins traded on the exchange. It did not quantify the value, but the local Yonhap news agency estimated that about 40bn won (27.8m) worth of virtual coins was stolen.

Coinrail said: Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]. Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies. For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.

Police have begun an investigation, according to the Korea Herald, which cited a spokesperson as saying: We secured the access history of Coinrail servers and we are in the process of analysing them.

Your ads will be inserted here by

Easy Plugin for AdSense.

Please go to the plugin admin page to
Paste your ad code OR
Suppress this ad slot.

Bitcoin was trading at about $6,750 on Monday afternoon down from an all-time peak of almost $20,000 in the week before Christmas. In February, it fell to $5,900.

Bitcoin price chart
Bitcoin price chart

South Korea is one of the worlds major cryptocurrency trading centres, and is home to one of the busiest virtual coin exchanges, Bithumb.

There have been a series of thefts from cryptocurrency exchanges in recent months. Japans Coincheck was hacked in January, with more than $500m-worth of digital currency stolen. It started reimbursing customers in March, but faces two class-action lawsuits. In December, the South Korean exchange Youbit shut down and filed for bankruptcy after being hacked twice.

Naeem Aslam at online trading platform ThinkMarkets said: The question is: is there any limit to these hacks? After every few months, we are seeing the same pattern emerging. This is the result of loose regulatory control and regulators must step in to protect the consumers. Anyone who wants to do anything with exchanges should be forced to adopt high-grade security and regular security upgrades.

Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk

The Wall Street Journal () reported on Friday that US regulators were investigating potential price manipulation at four major cryptocurrency exchanges. The investigation comes six months after CME Group launched bitcoin futures. Coinbase, Bitstamp, itBit and Kraken have been asked to share trading data related to the futures contracts.

Analysts said bitcoin volatility was fading, after the price increased threefold between mid-November and mid-December. David Jones, the chief market strategist at trading platform Capital.com, said this was driven by increased publicity as bitcoin went from being a niche IT interest to becoming mainstream, but added that the hype has now gone.

He noted that Facebook and Google had banned cryptocurrency adverts. Plenty of latecomers to the cryptocurrency rally have had their fingers burnt, have taken their losses (or are still sitting on them) and have vowed never to return, Jones said. Activity amongst the wider public has slowed. Arguably, the introduction of a listed futures contract for bitcoin has also calmed the wilder market moves.

The subheading of this article was amended on 12 June 2018 because an earlier version referred to Coincheck losing about 28m of virtual currency. That loss was meant to refer to Coinrail.

Read more: https://www.theguardian.com/technology/2018/jun/11/bitcoin-price-cryptocurrency-hacked-south-korea-coincheck

Steve Bannon backs bitcoin and eyes his own ‘deplorables’ cryptocurrency

Your ads will be inserted here by

Easy Plugin for AdSense.

Please go to the plugin admin page to
Paste your ad code OR
Suppress this ad slot.

Ex-Trump strategist calls cryptocurrency disruptive populism and says he is interested in making a currency of his own

Its been a tough few days for bitcoin. On Sunday, the South Korean cryptocurrency exchange Coinrail was hacked, which caused the price of bitcoin to tumble. Prices fell again on Wednesday after a study found bitcoins huge spike last year (the currency reached nearly $20,000) might have been the result of strategic price manipulation.

Despite all the bad news, bitcoin still has its believers, including Steve Bannon. In an interview with the New York Times, the former White House strategist said that he has a good stake in bitcoin and is interested in working with entrepreneurs and countries interested in creating their own cryptocurrencies. Bannon may also have ambitions to create a currency of his own. Earlier this year, in a meeting at Harvard University, he apparently discussed creating a new digital currency called deplorables coin.

Bannon says he isnt interested in cryptocurrencies solely for the financial potential; he sees decentralized money as a key component of his political mission. Cryptocurrency is disruptive populism, it takes control back from central authorities, said Bannon. It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency control of the currency, is control of everything.

The deplorables coins name references the time Hillary Clinton called half of Trump supporters a basket of deplorables during the 2016 election. Clinton later said she regretted it; it had handed Trump a political gift.

White nationalists were interested in the political potential of cryptocurrency long before bitcoin entered the mainstream. In 2014 Andrew Auernheimer, a neo-Nazi who goes by the name weev, wrote on his blog: I heartily encourage you to consider cryptocurrency, including bitcoin. And in March 2017 Richard Spencer declared on Twitter that Bitcoin is the currency of the alt-right.

A number of neo-Nazis have also been pushed into cryptocurrency because they have been barred by traditional payment platforms. Shortly after the violent white supremacist rally in Charlottesville last year, Apple and PayPal disabled payment support for websites that support hate groups.

Bitcoin is the most well-known digital currency, although white nationalists are beginning to gravitate towards Monero, which Wired recently called the dark webs favorite currency. Monero, which claims to be more untraceable and secure than bitcoin, has, for example, been enthusiastically promoted by white nationalist podcaster Christopher Cantwell. Cantwell is offering 10% subscriptions to his site if you pay in Monero.

Despite recent dips in cryptocurrency prices, their astronomical rise last year made a lot of white nationalists, including weev, very rich indeed. In his interview, Bannon didnt say how much money he has made from cryptocurrency, but one imagines hes got more than enough to start minting baskets of digital deplorables.

Read more: https://www.theguardian.com/us-news/2018/jun/14/steve-bannon-cryptocurrency-deplorables-bitcoin

The crypto-future is female: bitcoin innovators push for inclusion

At the worlds largest blockchain conference, female leaders in the industry sought to shake off bitcoins boyish image

Satoshi is female was one of the more pervasive slogans at Consensus 2018, the worlds largest blockchain conference that saw thousands of crypto-believers descend on midtown New York for a packed, three-day meet-and-greet last week.

Satoshi refers to Satoshi Nakamoto, the still mysterious creator of Bitcoin who has never been identified but who, nonetheless, is credited as the founding father of cryptocurrency, or a digital form of money, and blockchain, a public and uneditable system for recording transactions. Both developments are hailed by their evangelists as potentially revolutionary technological tools.

As crowds packed Manhattans midtown Hilton to listen to leadingtechnology figures such as Twitters Jack Dorsey and the cryptography pioneer Bailey Whitfield Whit Diffie, the question of Satoshis gender was purely symbolic. But it was also understood by many attendees: blockchain should not simply perpetuate the white male tech nerd stereotypical worldview of Silicon Valley.

We think cryptocurrencies should be built with a different system and values in mind, said Nyla Rodgers, the creator of the Satoshi Is Female group. Silicon Valley is completely run by men. Women only receive 2% of venture capital funding so their ideas never rise to the top. Weve been living with a very one-sided view of the world.

The launch of #satoshiisfemale at the Women of Crypto event in Puerto Rico.

A post shared by Satoshi Is Female (@satoshiisfemale) on

The expression of a male-led crypto world is already self-evident. The frothy, unstable cryptocurrency sector is dominated by images of Lamborghinis Lambos and going moon as cryptocurrencies surge in price.

Cryptocurrency and blockchain has already received bad press for being overly gendered and insufficiently woke. In February, the North American Bitcoin Conference wrapped up 10 hours of speeches by inviting 5,000 attendees to what it called a networking party in a 20,000 sq ft strip club.

To women in the crypto sector attending Consensus, theres no time to lose if blockchain technology isnt going to follow the same path as Silicon Valley.

A recent study found that while there was improvement in the number of women in the industry in the wake of several sexism and discrimination scandals, the participation of racial minorities was worsening.

The blockchain sector has only been around for 18 months so we, as women, can help define what the culture looks like at the beginning, said Rodgers who is raising money to fund women-led tech groups, many in the developing world, through her charity Mama Hope. The urgency is there for women and minorities to create a system that actually values them.

On the first day of New Yorks crypto-week, the entrepreneur Cindy Chin held a seminar Women on The Block with the express purpose of creating a sense of inclusion in the blockchain world.

We think theres an opportunity to change what has really been an all-male space, Chin says. We want to be part of the conversation, we want to drive the leadership, to be part of the deal-flow and we want to be invested in we want the money!

Read more: https://www.theguardian.com/technology/2018/may/17/consensus-2018-conference-bitcoin-satoshi-is-female

Bitcoin loses a quarter of its value in one day’s trading

Cryptocurrencys year-end rally fails as its investors are finally introduced to the law of financial gravity

Bitcoin lost more than a quarter of its value on Friday as an analyst warned that investors in the cryptocurrency had finally been introduced to the law of financial gravity.

In the latest illustration of bitcoins volatility, it slumped to below $11,500 at one point on Friday touching $11,159 having started the week at a record high close to $20,000 and in its biggest weekly fall since 2013. However, by 5pm London time it was trading at $12,800 as the currency endured a see-saw day.

It is a sudden reversal of bitcoins upward trajectory this year, having started 2017 at $966, and sparked warnings that investors need to beware that they are not risking a rerun of the 17th century tulip bubble.

Bitcoin trades on a number of exchanges and one, Coinbase, was reported to have suspended transactions temporarily while there was also a temporary halt of the new futures contract which allows investors to take bets on the value of the digital currency at a predetermined point in the future on the Chicago Board Options Exchange while it waited for the price to stabilised.

Two futures contracts have been launched this month, which were regarded as taking a step towards legitimising digital currencies at a time when regulators are stepping up their surveillance of products linked to the new technology.

Fridays slump was said to have been fuelled by the founder of another cryptocurrency selling his holdings. Charlie Lee, founder of Litecoin, said he was selling his holdings to avoid a conflict of interest that he faces when talking about the price of the currency which could appear to benefit him.

Jasper Lawler, head of research at London Capital Group, said this decision was probably the root-cause of the insecurity thats been felt across the cryptocurrency space.

Bitcoin investors were introduced to the law of gravity over the last 24 hours Long term holders will be used to this level of volatility but newer crypto traders could be permanently put off, said Lawler.

The exponential price rise seen recently needs new investors to sustain it. In a bubble market its known as the bigger fool theory; you can buy high as long as there is a fool willing to buy it off you even higher, he added.

Charles Hayter, founder and chief executive of industry website CryptoCompare, said: A manic upward swing led by the herd will be followed by a downturn as the emotional sentiment changes. A lot of traders have been waiting for this large correction.

Sir Howard Davies, chairman of RBS, has likened investing in bitcoin to Dantes Inferno Abandon hope all ye who enter here while Jamie Dimon, the head of JP Morgan, has talked about bitcoin as being worse than tulip mania, which took place in the Netherlands in the 1630s, when bulb prices reportedly rose more than 1,000% in a month.

Analysts said the dramatic moves in the runup to the end of 2017 meant that it was difficult to predict what would happen in the new year when trading volumes are expected to rise.

Lukman Otunuga, research analyst at financial firm FXTM, said: The aggressively bearish price action witnessed this week may prompt investors to start questioning if bitcoin will recover from the selloff or remain depressed moving into the new year.

Regulators have been sounding a cautious note about bitcoin, which is not regulated and is controlled by a network of computers that update all transactions which take place on a variety of trading platforms around the world. It only exists digitally and is mined using mathematical equations.

While the Bank of England has said it is not a risk to financial stability, governor Mark Carney told MPs this week that he expected international regulators will discuss cryptocurrencies and the potential future role of central bank digital currencies.

The Financial Conduct Authority has issued warnings about initial coin offerings (ICOs) which use cryptocurrencies to raise funds for startup businesses. Investors in ICOs pay in cryptocurrencies such as bitcoin and receive a coin in return, rather than shares in the company.

Andrew Bailey, chief executive of the FCA, has said bitcoin is not a really currency but more like a commodity.

Follow Guardian Business on Twitter at @BusinessDesk, or sign up to the daily Business Today email here.

Read more: https://www.theguardian.com/technology/2017/dec/22/bitcoin-price-plunges-2000-12-hours-year-end-rally-fizzles-out

Bitcoin: UK and EU plan crackdown amid crime and tax evasion fears

Cryptocurrency close to record high despite news Treasury plans to end traders anonymity

The UK and other EU governments are planning a crackdown on bitcoin amid growing concerns that the digital currency is being used for money laundering and tax evasion.

The Treasury plans to regulate bitcoin and other cryptocurrencies to bring them in line with anti-money laundering and counter-terrorism financial legislation. Traders will be forced to disclose their identities, ending the anonymity that has made the currency attractive for drug dealing and other illegal activities.

Under the EU-wide plan, online platforms where bitcoins are traded will be required to carry out due diligence on customers and report suspicious transactions. The UK government is negotiating amendments to the anti-money-laundering directive to ensure firms activities are overseen by national authorities.

The Treasury said: We are working to address concerns about the use of cryptocurrencies by negotiating to bring virtual currency exchange platforms and some wallet providers within anti-money laundering and counter-terrorist financing regulation.

Q&A

What is bitcoin and is it a bad investment?

Bitcoin is the first, and the biggest, “cryptocurrency” a decentralised tradable digital asset. Whether it’s a bad investment is the $97bn question (literally, since that’s the current value of all bitcoins in existence). Bitcoin can only be used as a medium of exchange and in practice has been far more important for the dark economy than it has for most legitimate uses. The lack of any central authority makes bitcoin remarkably resilient to censorship, corruption or regulation. That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it’s hard (but not impossible) to trace a bitcoin transaction back to a physical person.

The rules are expected to come into effect in the next few months. The Treasury said digital currencies could be used to enable and facilitate cybercrime. It added: There is little current evidence of them being used to launder money, though this risk is expected to grow.

The bosses of Goldman Sachs and JP Morgan have criticised bitcoin as a vehicle to commit fraud and other crimes. But Sir Jon Cunliffe, a deputy governor of the Bank of England, last week said the digital currency was too small to pose a systemic threat to the global economy. He also cautioned that bitcoin investors needed to do their homework.

Bitcoin was trading at $11,566 on Monday. It hit a fresh record high of $11,800 on Sunday but fell to $10,554 on news of the regulatory crackdown.

zerohedge (@zerohedge)

Reason For Bitcoin Sudden Plunge Revealed: UK Plans Regulatory Crackdown On Cryptocurrencies https://t.co/xIxdg6aUkU

December 3, 2017

The Labour MP John Mann, a member of the House of Commons Treasury select committee, suggested MPs would look into the regulation of virtual currencies.

He told the Daily Telegraph: These new forms of exchange are expanding rapidly and weve got to make sure we dont get left behind thats particularly important in terms of money laundering, terrorism or pure theft.

It would be timely to have a proper look at what this means. It may be that we want speed up our use of these kinds of thing in this country, but that makes it all the more important that we dont have a regulatory lag.

Stephen Barclay, the economic secretary to the Treasury, set out the governments plans in a written parliamentary answer in October. The UK government is currently negotiating amendments to the anti-money-laundering directive that will bring virtual currency exchange platforms and custodian wallet providers into anti-money laundering and counter-terrorist financing regulation, which will result in these firms activities being overseen by national competent authorities for these areas.

The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017 or early 2018.

Follow Guardian Business on Twitter at @BusinessDesk, or sign up to the daily Business Today email here.

Read more: https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity

Bitcoin price soars above $5,000 to record high

Rising cost of the cryptocurrency, now worth 4 times as much as an ounce of gold, has actually resulted in cautions of a bubble

The rate of bitcoin has actually smashed through $5,000 to an all-time high.

The cryptocurrency increased by more than 8% to $5,243 having actually begun the year at $966. Bitcoin has actually skyrocketed by more than 750% in the previous year and deserves 4 times as much as an ounce of gold.

But the cost has actually been unpredictable. The digital currency plunged listed below $3,000 in mid-September after the Chinese authorities revealed a crackdown. Beijing bought cryptocurrency exchanges to stop trading and obstruct brand-new registrations, due to worries that increasing varieties of customers stacking into the bitcoin market might trigger larger monetary issues.

Price of bitcoin

Jordan Hiscott, the primary trader at Ayondo Markets, stated: “The returns are genuinely amazing, specifically offered the current restriction on bitcoin trading in China, where need had actually formerly represented a minimum of 10% of all international volumes.”

Vladimir Putin, the Russian president, called today for guideline of cryptocurrencies , stating their usage “bears major dangers” such as loan laundering, tax evasion and financing for terrorism. He likewise cautioned versus enforcing “too lots of barriers,” which appears to have actually offered bitcoin an increase.

Despite cautions over a bubble, bitcoin is acquiring in approval. Last month, a London residential or commercial property designer, The Collective, stated it would enable its occupants to pay their deposits in bitcoin and accept lease payments in the cryptocurrency by the end of the year.

Two weeks back, Japan’s federal government carried out guidelines that identify bitcoin as a payment approach. Celebs have likewise got included , with the fighter Floyd Mayweather, the socialite Paris Hilton and the star Jamie Foxx promoting coin offerings.

Using bitcoin enables individuals to bypass banks and standard payment procedures to spend for services and products straight. Banks and other banks have actually been worried about bitcoin’s associations with cash laundering and online criminal offense due to the fact that deals occur anonymously.

The skyrocketing worth of bitcoin and other cryptocurrencies comes in spite of growing cautions over a rate bubble.

The starkest caution originated from the JP Morgan president, Jamie Dimon, who stated bitcoin was a scams that would eventually explode . Speaking last month, he stated there was a restricted market for the digital currency, arguing that it was just suitable for usage by drug individuals, killers and dealerships residing in nations such as North Korea. He promised to sack any JP Morgan trader investing in Bitcoin, however likewise confessed he had actually not had the ability to deter his child from investing.

Dimon decreased to discuss the rise in bitcoin throughout a profits get in touch with Thursday. “I’m not going to speak about bitcoin anymore,” he stated.

Kenneth Rogoff, a teacher of economics and public law at Harvard University and a previous IMF chief financial expert, has actually forecasted that the innovation behind cryptocurrencies will prosper, however the rate of bitcoin will collapse.

“It is recklessness to believe that bitcoin will ever be permitted to supplant main bank-issued loan,” he composed in the Guardian today.

“It is something for federal governments to permit little confidential deals with virtual currencies; undoubtedly, this would be preferable. It is a completely various matter for federal governments to permit massive confidential payments, which would make it very challenging to gather taxes or counter criminal activity.”

Daniel Murray, international head of research study at EFG Asset Management, kept in mind that in 2013, bitcoin skyrocketed twelvefold in simply 4 months however within a month had actually lost a 3rd of its worth and 4 months after its peak had actually lost 60% of its worth.

“Investors purchase [an] possession since they are seduced by the possibility of more quick gains without always considering intrinsic worth,” he stated. He kept in mind that traditionally currencies were backed by rare-earth elements, and nowadays most currencies were based upon macroeconomic basics such as inflation, rates of interest and development, and were backed by a reserve bank and federal government. None of this used to bitcoin, although the supply is thoroughly managed.

“It is difficult to argue that bitcoin does anything much better than existing currency plans whilst it does some things to a lower requirement,” Murray included. “Individuals are currently able to negotiate digitally utilizing a plastic card.”

Read more: https://www.theguardian.com/technology/2017/oct/12/bitcoin-price-5000-cryptocurrency-gold-bubble

Bitcoin is a fraud that will blow up, says JP Morgan boss

Jamie Dimon declares cryptocurrency is just suitable for usage by drug individuals, dealerships and killers residing in North Korea

Bitcoin is a scams that will eventually explode, inning accordance with JP Morgan manager Jamie Dimon, who stated the digital currency was just suitable for usage by drug dealerships, killers and individuals residing in locations such as North Korea.

Speaking at a conference in New York, in charge of America’s greatest bank stated he would fire “in a 2nd” anybody at the financial investment bank discovered to be selling bitcoin. “For 2 factors: it’s versus our guidelines, and they’re foolish. And both threaten.”

Show Hide

Q&A

Bitcoin is the very first, and the greatest,”cryptocurrency “– a decentralised tradable digital property. Whether it’s a bad financial investment is the $70bn concern(actually, because that’s the present worth of all bitcoins out there). Bitcoin can just be utilized as a circulating medium and in practice has actually been much more essential for the dark economy than it has for a lot of genuine usages. The absence of any main authority makes bitcoin incredibly durable to censorship, corruption– or policy. That implies it has actually brought in a variety of backers, from libertarian monetarists who take pleasure in the concept of a currency without any inflation and no reserve bank, to drug dealerships who like that it’s difficult (however possible) to trace a bitcoin deal back to a physical individual.

Thank you for your feedback.

He included: “The currency isn’t really going to work. You cannot have a service where individuals can create a currency from thin air and believe that individuals who are purchasing it are actually wise.

“If you remained in Venezuela or Ecuador or North Korea or a lot of parts like that, or if you were a drug dealership, a killer, things like that, you are much better off doing it in bitcoin than United States dollars,” he stated. “So there might be a market for that, however it would be a restricted market.”

Bitcoin is a virtual currency that emerged in the consequences of the monetary crisis. It enables individuals to bypass banks and conventional payment procedures to spend for services and items. Banks and other banks have actually been worried about bitcoin’s early associations with cash laundering and online criminal activity, and it has actually not been embraced by any federal government.

bitcoin

It has actually more than quadrupled in worth considering that December, striking about $4,700 last month prior to falling back. It fell by about 5% after Dimon’s talk about Wednesday to listed below $4,000.

“It is even worse than tulip bulbs,” Dimon stated, describing a popular market bubble from the 1600s . He forecasted huge losses for those buying bitcoin. “Don’t ask me to brief it. It might be at $20,000 prior to this occurs, however it will ultimately explode,” he stated. “Honestly, I am simply surprised that anybody cannot see it for exactly what it is.”

However, the lender exposed his child had actually purchased bitcoin: “It increased and she believes she’s a genius now.”

Last week, Lady Mone released a significant residential or commercial property advancement in Dubai, priced in bitcoins, stating the digital currency was a growing market that might not be disregarded.

The co-founder of the underclothing brand name Ultimo is offering the high-end apartment or condos with her business person sweetheart, Douglas Barrowman, and the 250m plan will consist of 2 apartment or condo blocks and a shopping center. One-bedroom apartment or condos will be priced at about 54 bitcoins, Barrowman stated, while two-bedroom flats are anticipated to opt for about 80 bitcoins.

Meanwhile, a London home designer is permitting its occupants to pay their deposits in bitcoin — the very first time the cryptocurrency has actually been utilized in the UK property houses market.

By the end of this year the Collective will likewise accept lease payments in the virtual currency. It stated the relocation remained in action to require mainly from worldwide clients.

Dimon’s criticism of the currency accompanied a caution from the UK monetary regulator versus a speculative craze in preliminary coin offerings (ICOs), where web start-ups are moneyed by financiers utilizing cryptocurrencies such as bitcoin.

In an ICO, a financier pays in bitcoins in return for a “coin” or “token” that is in result their share in the company.

The FCA stated anybody investing in ICOs need to be prepared to lose all their cash. “ICOs are really high-risk, speculative financial investments,” it stated. “You must understand the threats included … and prepared to lose your whole stake.”

Yann Quelenn, an expert at the online bank Swissquote, stated bitcoin “still has terrific possible”.

“We believe it is a possible safe house. Less than 0.01% of the world’s population has a bitcoin wallet,” he stated. “If this would reach 1%, the need for bitcoin would escalate, since there are just 18m coins offered.

“Cryptocurrencies are a brand-new property class, one at war with fiat [paper] loan, which war will be combated on regulative problems. Reserve banks are eager to protect their monopoly on loan, something they will not let go of without a battle.”

Read more: https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers