Japan Ramps Up Scrutiny into Crypto Exchanges’ Cold Wallets

By CCN.com: Crypto exchanges are a straightforward place to keep cryptocurrency when trading. Cash out fees accrue less quickly, and trades can be made much faster than having to transfer currencies from another wallet. The downside to keeping your funds on an exchange? More than $ 500 million was stolen exclusively from Japanese exchanges in 2018 alone. The funds stolen have left governments with a serious need to intervene. Japan was the first country to formalize crypto exchange regulation, and they have taken these breaches very seriously. Previously, storing funds in a cold wallet – offline crypto storage wallets that are

The post Japan Ramps Up Scrutiny into Crypto Exchanges’ Cold Wallets appeared first on CCN

News – CCN

Western Union Makes Key Partnership To Deliver Money To Mobile Wallets

Western Union is pushing further into the crypto world, teaming up with a cross-border payments network so its customers can take advantage of mobile wallets. The network is Thunes, and through it, Western Union customers can send funds directly into a recipient’s mobile wallet. All they need to do is go online or visit one of the many agent locations just as they do to make traditional transfers. Why Should Anyone Care? Western Union has long been known as the place to make wire transfers and pay bills, but advances in the world of fintech have nearly rendered the brick-and-mortar

The post Western Union Makes Key Partnership To Deliver Money To Mobile Wallets appeared first on CCN

News – CCN

QuadrigaCX Wallets Found Empty, Mystery of $150 Million Missing Crypto Deepens

The cold wallets of QuadrigaCX, once the largest crypto exchange of Canada, have reportedly been found to be empty. According to Bloomberg, most of the Bitcoin funds from the exchange’s cold wallets were moved out in April 2018, more than 9 months before QuadrigaCX revealed it had lost $ 150 million in customer funds after its CEO Gerald Cotten passed away with sole control of the company’s wallets. Ernst & Young, a big four auditor tasked as the monitor of QuadrigaCX, found six cold wallets of the exchange used to store Bitcoin. Five of the six wallets did not contain any

The post QuadrigaCX Wallets Found Empty, Mystery of $ 150 Million Missing Crypto Deepens appeared first on CCN

News – CCN