A new Chinese Bitcoin Ponzi scheme has absorbed roughly $11 million in Bitcoin in less than one month of operating. Antimatter Kingdom (AK), a new Chinese crypto Ponzi scheme, appears to have netted $11 million worth of Bitcoin (BTC) in less than one month of operating. Upon launching at the start of April, AntiMatter Kingdom…
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The Industrial and Commercial Bank of China has a lot of positive opinions on blockchain technology. The Industrial and Commercial Bank of China (ICBC) has released a white paper on blockchain technology applications in finance. According to Sina Finance, the paper is the first of its kind in the banking sector. The document analyzes the…
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Tencent’s digital bank WeBank is integrating the DAML smart contract language for the chain that will undergird China’s national Blockchain-Based Service Network. Tencent’s digital bank WeBank is exploring the integration of the DAML smart contract language for its consortium blockchain FISCO BCOS — the chain that will undergird China’s national Blockchain-Based Service Network (BSN). On…
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Central Bank of China claims that digital Yuan will not cause inflation. The Bank of China’s secretive digital currency tests have led to tremendous curiosity among Chinese citizens. Recently, the bank responded with an official explanation of the proposed digital Yuan and how it would work. A bank representative confirmed on the China Central Television…
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Malaysian authorities have arrested 14 Chinese men for operating a Bitcoin investment scam and violating the Immigration Act. Malaysian police have arrested 14 Chinese men for their involvement in a Bitcoin (BTC), scam targeting investors in their home country. Assistant Commander, Dzulkhairi Mukhatar, stated that the arrests took place on April 18, following two-months of…
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Leading Chinese DeFi protocol has lost 99.95% of locked funds in a nearly $25 million hack. Chinese decentralized finance, or DeFi, protocol dForce has been exploited in a $24.95 million hack that has resulted in its Lendf.Me lending platform going offline. According to DeFi data aggregator DeFi Pulse, the total value of funds locked in…
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Check out this week’s Bad Crypto News. Bitcoin has had a rough week, down around 9 percent and trading below $6,700. Ross Ulbricht, the founder of Silk Road, believes we’re in a bear market that could even take the price under $3,200. Ulbricht is serving two life sentences for money laundering, computer hacking, and conspiracy…
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A historic first for China combines with oil reverting to 1987 levels to produce fresh uncertainty across global markets, while Bitcoin flounders. Bitcoin (BTC) was fighting to keep $7,000 support on April 17 as China saw a historical GDP contraction and oil sank to prices last seen in 1987. Cryptocurrency market daily overview. Source: Coin360…
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Jinwowo and the China Mobile Blockchain Association Committee are building China’s first blockchain lab to empower e-commerce. Network technology company Jinwowo and the China Mobile Blockchain Association Committee held a “cloud signing” ceremony on April 13 to partner on the development of the first “blockchain and e-commerce ecology” laboratory in Chongqing China, according to a…
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Fresh details have emerged about ongoing trials of China’s digital yuan, specifically its current implementation in Suzhou — a major city in Jiangsu Province. Fresh details have emerged about ongoing trials of China’s digital yuan, specifically its current implementation in Suzhou — a major city in Jiangsu Province. On April 16, reporters for ChinSci-Tech —…
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