Bitcoin’s price finally broke out to the downside recently after prolonged dormant price action. Unrest in the crypto space continues with exchange pump and dumps, stiff regulatory comments, and Malware attacks, as well as positive news of a new Coinbase listing. Catch up on today’s action:
YoBit.net Official Pump Scheme & Scam Social Media
Their most recent efforts include scheduling price increases for random coins on their exchange, likely in an effort to attract more customers and volume during this bear market. Scammers have also taken to social media under fake YoBit profiles, further complicating the situation. These events and activities do not reflect crypto market legitimacy to institutions.
‘Doctor Doom’ vs Crypto: Here’s What To Expect In Congress Today
Economist Nouriel Roubini sees headlines again with his intentions to make bold comments about cryptocurrency to the U.S. Senate Committee. Roubini and Peter Van Valkenburgh (Coin Center director of research) will speak about banking, housing, and urban affairs as they relate to crypto and blockchain. The U.S. Congress planned to conduct this meeting to better understand crypto and blockchain.
Roubini states that “wealth in crypto-land is more concentrated than in North Korea, where the inequality Gini coefficient is 0.86.” as reported by CoinDesk. (The Gini coefficient is a way to measure economic inequality, with 0 being perfect equality, and 1 being the most unequal.)
Coinbase Adds Its First Ethereum Token To Professional Trading Platform
In a big announcement today, Coinbase states that they have added the 0x (ZRX) token to their Coinbase Pro trading platform (formerly called GDAX). Trading for ZRX will commence at 5 am UTC on Friday, Oct. 12. For the past year, there has been almost relentless speculation of what will be added next to Coinbase.
Added coins often see a price rise upon initial listing announcements. Coinbase has also only listed Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ethereum Classic, until now. ZRX will be the first ERC-20 token to list on Coinbase. (ERC-20 meaning a coin that runs on the same network as Ethereum.)
Crypto Exchange Bitfinex Suspends Fiat Deposits, Expects To Resume ‘Within A Week’
Bitfinex is often the topic of much discussion and skepticism in crypto markets, especially in their association with Tether (USDT). They have also made headlines recently with their exit from Noble Bank in Puerto Rico.
Today has brought reports that all fiat money wire deposits of the Euro, U.S. Dollar, Japanese Yen, and Pound Sterling have been put on hold for the time being. There is no current reported reason for this action. Deposits are planned to open again next week.
Experts Warn Of Cryptojacking Malware That Mimics Adobe Flash Updates
Unit 42 research group recently discovered malware attacks that disguise themselves as Adobe Flash updates. This specific malware, called cryptojacking, pirates victims computing power to mine Monero coins, without owners’ approval or knowledge.
Brad Duncan of Unit 42 states: “in most cases, fake Flash updates pushing malware are not very stealthy”… “However, a recent type of fake Flash update has implemented additional deception. As early as August 2018, some samples impersonating Flash updates have borrowed pop-up notifications from the official Adobe installer. These fake Flash updates install unwanted programs like an XMRig crypto miner, but this malware can also update a victim’s Flash Player to the latest version.”