Keeping on top of the latest crypto news is essential when investors want to be informed of the latest developments. How digital currencies are depicted in the headlines can affect how they move in the market.
Digital assets with numerous positive market predictions in the news will generate more investor interest. Headlines that inform crypto enthusiasts of cybercrimes or scams are essential measures to help investors remain diligent about potential vulnerabilities.
Crypto News Reports a Rise in Cryptocurrency Crimes
With the evolution of technology and the adaptation of digital payments, cryptocurrency is vulnerable to illegal activities. No market in the world is left untouched by criminals over the years. As more individuals become interested in digital currency, more criminals will find ways to take those assets away. It is up to investors to keep informed on recent scams or vulnerable situations that could put them at risk.
Technological advances help aid in the fight against cryptocurrency crimes. From monitoring software to encrypted networks, many measures are in place to protect crypto exchange platforms and investors alike. Elliptic Software is just one of the many options available to help combat illegal transactions and crypto hacking worldwide.
Former KFC Employee Loses a Lucrative Drug Empire Built with Cryptocurrency
This week in crypto news, Paul Johnson, a former KFC employee, was caught running an illegal darknet drug marketplace. Situated in his home attic in Leicestershire, Johnson used the cover of a tea trading business to operate successfully. Utilizing Bitcoin as a means of payment, heroin, cocaine, LSD, cannabis, and ketamine were obtained and sold through the darkweb. By seizing over $2.29 million US in drug-related revenue, charges hailed numerous counts of possession, money laundering, and others.
Potential Jail Time for a Crypto Investor Who Can’t Pay His Investment Loan
A former airline attendant is facing jail time for defaulting on a loan that was used to purchase cryptocurrency. After losing his job with Etihad Airlines due to the Coronavirus pandemic, his repayment schedule is not feasible. Crypto News reported that in the UAE, individuals who cannot repay loans are considered a criminal matter, not civil. These individuals can be sentenced to 3 years of jail time, or more dependent on the loan.
Miner in Russia Arrested for Stealing Electricity for Mining Operations
A 30-year-old resident of Makhachkala, Russia was arrested for siphoning state power from the local grid to perform mass mining. The extreme mining farm had connected approximately 500 platforms to the local power network causing damage totaling $494,000 US. Charges pending are not explicit as to whether the actual mining operations were legitimately performed or not.
Cryptocurrency Headlines Can Show Trends
When exploring recent cryptocurrency headlines online, some similarities may show recent trends, giving investors a forewarning of what’s to come. An increase in criminal activities regarding illegal transactions may show investors which exchange platforms to avoid or think twice about. If there are numerous crypto news reports of scams in your area, it’s best to be careful with your assets.