1. Crypto Scams Total $1.2 Billion in Q1, 2019
|
|
|
It's getting much worse
What you need to know
Crypto intelligence firm CipherTrace revealed that scams and fraud cost crypto $1.2 billion in Q1, 2019, alone. Top of CipherTrace's stealing charts was the $850 million misappropriated by Bitfinex's parent company iFinex and the $195 million lost at QuadrigaCX.
Why it's important
Last year, "just" $1.7 billion was lost to fraud and scams in the crypto industry. These new findings show that things are getting worse. Lock your doors, hold your loved ones, because it looks like 2019 is going to be a rough ride.
|
|
2. Craig Wright Suffers Lawsuit Setback
|
|
|
Expert claims email was fabricated
What you need to know
Craig Wright is having a terrible time. Not only is he embroiled in a multi-billion dollar lawsuit brought by the estate of Dave Kleiman, an early Bitcoin pioneer, he's taken to berating poor hapless Ben Munster at an event for students. More on that below, back to the court case. Wright, who is being sued for defrauding Kleiman out of $10 billion worth of bitcoin had a bulletproof alibi that got him off the hook: one single email. Inside that email was a time stamp that said it was sent in 2012. But a security expert has been wheeled out to point out one salient fact, the email was actually sent in 2014.
Why it's important
Kleiman died in 2013, further supporting the prosecution's claim the email is bogus, as cybersecurity engineer Dr. Matthew Edman states. So, if Wright is willing to allegedly fake emails, what else is the artist formerly known as Satoshi Nakamoto prepared to do?
|
|
|
From the interweb
Here are the biggest stories in the cryptoverse:
- Coinbase adds Dogecoin. Much wow.
- Square posts record $65 million Bitcoin sales in Q1.
- Cardano's Charles Hoskinson creates blockchain framework with Ethiopian government.
- 80 firms spend $42 million lobying for crypto causes in Q1.
|
|
|
Want to check out other great emails?
We have a whole host of awesome newsletters you can subscribe to. Step right this way to sign up.
|
|
3. Tether "Fraud" Just Tip of the Iceberg
|
|
|
Tsunami of regulations are coming
What you need to know
CipherTrace CEO Dave Jevans dropped a whopper in Decrypt's lap: any stablecoin could be used to defraud investors and manipulate the cryptocurrency market. If that wasn't alarming enough, CipherTrace's report states that, "a tsunami of tough new global" regulations will come in 2019. Hold onto your hats.
Why it's important
CipherTrace is a firm the SEC trusts, so what it says carries a lot of heft in regulatory circles. If these regulations really are on the way, then crypto businesses need to work out if they're on the naughty or nice list, fast. When you consider the ever-growing list of businesses found to have ties with Panama based shady "bank" Crypto Capital—this could be another grueling year in crypto land.
|
|
|
Craig Wright lets it all out
Wright blames "white males" for destroying society
It was supposed to be so simple. Craig Wright and his Bitcoin SV sidekick Jimmy Nguyen headed to Oxford University to tell everyone how great their project was earlier this week. But the second Wright saw poor Ben Munster's disapproving face, things unraveled. We won't spoil the whole thing, but let's just say in those few minutes Wright managed to tie a string through white men, Sappho of Lesbos, Forbes, Western Culture (all of it), Twitter, journalism AND, yep, you guessed Augustus of Hippo. You're not going to want to miss this one.
|
|
|
Thanks for reading today's Daily Debrief, see you tomorrow.
We're always looking for ways to improve this newsletter so if there's anything you'd like to see, get in touch!
|
|
Like what you read? Share the Daily Debrief with a friend.
They can simply click the button below to sign up and we'll do the rest.
|
|
|
|
