Huobi exchange removed seven anonymous coins with the largest market capitalization from the list of available instruments: Monero (XMR), Zcash (ZEC), Dash (DASH), Decred (DCR), Firo (formerly Zcoin), Verge (XVG), and Horizon (ZEN).
“Huobi Global strictly adheres to each country and region’s ‘compliance policy and always strives to protect our users’ assets,” Huobi Global said in a statement.
The exact reason for the delisting is not given; instead the exchange cites the regulatory compliance policy and refers to Article 17(16) of the governance rules. That article describes the rules for “hiding” or suspending trading of anonymous tokens that do not support offline signatures, or have closed-source nodes.
Some coins lost value after the delisting became known. However, Huobi Global’s decision did not have a significant impact on market dynamics.
The Dash exchange rate momentarily dipped to $45.86, but by the time of publication, the token had recovered to $47.8. Dash lost 1.6% over the day. Zcash tested the support at $61? 00, but managed to return to the area of $63. Daily losses: -2.4%. Decree, and Firo fell 2%. The monero rate remained almost unchanged during the day.
Anonymous cryptocurrencies hide cash flows in their networks and thus guarantee the confidentiality of transactions. Authorities in many countries have long viewed them with distrust and suspicion.
South Korea and Australia have introduced rules restricting the trading of such coins on exchanges. The European Union has introduced FATF rules and a fifth anti-money laundering directive.
U.S. authorities recently blocked the Ethereum-based crypto mixer Tornade Cash. This decision confirms the authorities’ willingness to act against anonymous transactions. Tornado Cash is open-source software that enables anonymous transactions on the Ethereum network.
Earlier, we reported that a South Korean court issued an arrest warrant for Terra co-founder Do Kwon.
China has uncovered a money laundering scheme involving the digital yuan. How does money laundering work?
Chinese authorities have uncovered a 200 million yuan (~$28 million) money-laundering scheme where criminals used the digital yuan. Local newspaper Renmin Jibao writes about it. How does money laundering work?
It is reported that the criminals were detained in Fujian province. According to law enforcement authorities, the criminal group, led by Lai Moumou and Zheng Moumou, provided illegal services for the settlement of money to support gambling businesses. It is also noted that the group formed entire cells throughout China and worked on money laundering.
This is the second reported case of the digital yuan appearing in illegal activities. Earlier, the editorial board wrote that the People’s Bank of China decided to amend the digital yuan model after authorities uncovered an eleven-person criminal cell that used the digital state currency to launder money.
According to local media reports, the scammers used phishing to obtain the digital state currency, which they later ran through banks and payment systems. The amount of the fraud was not disclosed. However, it remains unclear whether the incident was the reason for the digital currency changes.
Work on the Central Bank Digital Currency (CBDC) or DCEP, as representatives of the financial regulator themselves call the project, has been underway since 2014. In this case, the head of the Chinese Central Bank Yi Gang, noted that the financial institution has no clear timetable for the launch of the digital yuan. The banker drew attention to the fact that information about the pilot release of the digital asset and related initiatives should not be equated with the official release of the virtual yuan.
We previously reported that the creator of Fortnite has invested in a metaverse company.
FBI tracked Colonial Pipeline hackers through Chainalysis
Recently, Colonial Pipeline has been hacked again. But the Federal Bureau of Investigation (FBI) could identify Colonial Pipeline hackers through analytics firm Chainalysis. It is reported by Bloomberg, citing representatives of the firm.
It is not clear how exactly the FBI could identify the attackers. It is alleged that Chainalysis collects a large amount of data from the blockchain and also relies on off-network information received from customers. The analytics firm uses machine learning and statistical analysis to figure out where and to whom cryptocurrency might be sent.
In May 2021, a group of hackers called DarkSide hacked and shut down the Colonial Pipeline, one of the largest oil pipelines in the United States, causing a fuel shortage on the East Coast. As a ransom, the hackers demanded that 75 BTC be transferred to an anonymous wallet. Colonial Pipeline hackers then apologized.
Earlier in September, analysts at Group-IB found that the number of cryptocurrency-related fraud sites rose to 2,000 in the first half of 2022, a 335% increase over the entire 2021. At the same time, just over 60% of all fraudulent crypto-sites are registered through Russian providers.
Earlier we reported that Cardano Vasil should be fully completed to activate all features.
Is Kraken a good crypto exchange? Kraken has no plans to change its listing due to SEC complaints
Cryptocurrency exchange Kraken is not going to remove from its listing tokens that the U.S. Securities and Exchange Commission (SEC) compares to securities. Cryptocurrency exchange Kraken CEO Dave Ripley told Reuters.
Is Kraken a good crypto exchange?
Recall, earlier media revealed that the U.S. exchange regulator has organized an investigation into the actions of cryptocurrency exchange Coinbase to list tokens. The reason for launching the investigation was the SEC’s suspicions that Coinbase opened American users’ access to transactions with cryptocurrencies, which can be classified as securities.
However, despite the investigation, the exchange regulator did not sue Coinbase, which has already surprised Ripple, which has long been in litigation with the SEC over the altcoin XRP.
The SEC sued Ripple back in late 2020. The regulator argues that XRP falls under the definition of securities, but the California-based startup disagrees. While the verdict on the lawsuit between the SEC and Ripple probably won’t appear until late 2022, Coinbase was one of the first cryptocurrency exchanges to remove XRP from its listing.
We previously reported on researchers finding vulnerabilities in cryptocurrency exchanges.
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