Top Five U.S. Credit Card Issuers Ban Cryptocurrency Purchases

Because of financial and legal concerns, the top five U.S. credit card issuers have now banned cryptocurrency purchases using credit cards. They did this by blocking transactions attempted at all known cryptocurrency marketplaces including as Coinbase, Kraken, and Binance. J.P. Morgan Chase’s spokesperson echoed nearly identical statements from Bank of America, Citi, Capital One, and Discover, saying “At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved. We will review the issue as the market evolves.” Debit card cryptocurrency purchases will…

Did North Korea Pull Off the World’s Biggest Cryptocurrency Heist?

Japan’s national intelligence agency has concluded that North Korean hackers were likely behind the January 26th theft of $530 million USD worth of XEM cryptocoin tokens takenfrom Tokyo-based cryptocurrency exchange Coincheck, which ranks as the biggest cryptocurrency heist ever. The attack affected all 260,000 Coincheck customers who had been holding XEM. Coincheck admitted that a security gap on the platform was exploited to steal the XEM, and subsequently promised to use its own money to reimburse customers.Japanese authorities have since announced that they would investigate all Japanese crypto exchanges for…

Man Sues T-Mobile After Hackers Drain His Cryptocurrency Account

On February 4th a Seattle man filed suit against T-Mobile over an incident that started on November 7, 2017 when he noticed that his phone had restarted andbeen wiped of information, and then realized that he could not access the T-Mobile network. The man, Carlos Tapang, contacted T-Mobile and found that his phone number had been transferred to AT&T. T-Mobile was able to get the phone number back the next day. But, in the meantime, while the thieves had access to his phone number on a new device, they were…