Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, the regulatory action continues as Bithumb blocks access to 11 countries while Toronto Police warn of CRA scam. The Taylor trading app fell victim to a hack that comprised all of the development team's funds.
The digital asset trading platform has lost all its funds after hackers accessed a 1Password file from a compromised device. Losses amounted to 1,500 ETH and all the TAY tokens issued for development purposes.
The South Korean exchange will align with global anti-money laundering practices by blocking transactions from nations on the Non-Cooperative Countries and Territories blacklist. Clients that are affected by the block will have their accounts closed on June 21.
The Toronto Police Financial Crimes division has released a statement informing the public of a CRA tax scam involving Bitcoin. Bad actors have reached out to public posing as the CRA and have asked for payment of false fines.
Chen Lei, the chief executive of Xunlei, a US-listed technology company, stated the importance of blockchain technologies for China and the vast implications for its economy, during a conference in Beijing. At the conference, the Chinese ministry launched a white paper detailing areas of focus for China, highlighting that Beijing should speed up the application of blockchain in industries such as trade finance, transaction settlement, insurance, and securities.
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