Algorand Targets Insurance Fraud With New Partnership

Blockchain firms Algorand and Attestiv are teaming up to fight insurance fraud using DLT. Distributed ledger technology (DLT) firm Algorand has partnered with blockchain-based tamper-proof media verification platform Attestiv to target fraud within the insurance industry. The firms will combine their tech to develop a single platform for verifying digital media for a multitude of stakeholders across the insurance sector — including insurers, customers, repair vendors and carriers. Media is validated using Attestiv’s AI-based platform “either at the point of capture or via forensic analysis” before being “fingerprinted” and uploaded…

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Did Satoshi Nakamoto Just Move His Coins for the First Time in 11 Years?

Bitcoin’s founder Satoshi Nakamoto may have just moved some of the earliest-mined Bitcoin for the first time in 11 years. Some of the earliest mined Bitcoin just moved for the first time in 11 years. A Bitcoin (BTC) address containing coins mined in February 2009 — barely one month after the launch of the Bitcoin mainnet — just swept its entire holdings to two different Bitcoin wallets. Source: Blockchair.com Of these, 40 are laying inactive on what appears to be a change address. The remaining 10 BTC have been sent…

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Coinbase Will Allow Employees to Work Remotely After Lockdown

Coinbase will transition to a permanent “remote-first” future after the quarantine is over. U.S. crypto exchange Coinbase has announced it will transition to a “remote-first” workplace after the pandemic lockdown is over in an effort to guard against location-centric risks and to improve decentralization. In an open letter to all employees, Coinbase CEO Brian Armstrong said: “After the restrictions of quarantine are over, Coinbase will embrace being ‘remote-first’, meaning we will offer the option to work in an office or remotely for the vast majority of roles.” An estimated 20%…

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No, ISIS Does Not Have $300M in a Bitcoin ‘War Chest’

Blockchain forensics firm Chainalysis has debunked several high-profile stories about the use of crypto to fund terror groups. Blockchain forensics firm Chainalysis has published a report debunking a number of popular narratives surrounding the use of crypto to finance terrorism. The report emphasizes the harm of false reporting in spreading misinformation and damaging the reputation of firms operating with virtual currencies. As “a trusted investigative partner to governments around the world, preventing terrorists from using cryptocurrency is one of our primary objectives,” Chainalysis states. “It’s a serious task, and it’s…

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Craig Wright Denies Transferring ‘Satoshi’ Coins, Leaving Him in Legal Catch-22

Wright has denied moving 50 Bitcoin from one of the ‘Satoshi’ accounts he claimed in court as his own, leaving him in a legal quandary. Bitcoin’s SV’s billionaire benefactor Calvin Ayre revealed Satoshi claimant Craig Wright has denied moving 50 BTC from a long-dormant address thought by some to belong to the Bitcoin founder.  On Wednesday, an unknown party moved 50 BTC ⁠— roughly $486,000 worth — from an address containing coins mined barely one month after the launch of the Bitcoin mainnet in 2009.  But in a Twitter response…

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Adam Back Thinks Recent BTC Move Wasn’t Satoshi

Someone just moved Bitcoin from a wallet that has not been active for over 11 years, but Adam Back does not think it was Satoshi Nakamoto. Cryptographer and inventor of Hashcash, Adam Back, does not think recent transactions from the 11-year-old wallet involve pseudonymous Bitcoin (BTC) creator Satoshi Nakamoto.  “People need to chill,” Back said in a May 20 tweet. “If Satoshi was selling coins, surely he would sell his most recently mined, and so most anonymous first.” Bitcoin moved from a old wallet On the morning of May 20, the crypto…

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Chinese Police Arrest 12 Fake ‘Huobi Officials’

Chinese authorities have busted a group of scammers allegedly claiming to be “Huobi officials”. Chinese authorities have dismantled a group of alleged scammers posing as Huobi exchange officials, who were operating an over-the-counter (OTC) website. As reported by local media outlet Jinse, on May 20 police arrested 12 suspects in Guangdong province believed to be behind the scheme, after an investigation found that WeChat crypto trading groups had been infiltrated from November 2019. Scammers persuaded victims to invest in the fake OTC platform, which was used for money laundering, and…

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Mystery Account ‘Rescues’ $6M of STEEM From Hard Fork Seizure

Steem’s latest hard fork has been completed but almost $6 million of STEEM due for seizure was ‘rescued’ in a mysterious transaction to Bittrex exchange. As part of the long-running Steem drama, the Steem (STEEM) network experienced another fork today. Particularly designed to tackle “constant attack from malicious accounts,” the new hard fork doesn’t appear to have been entirely successful. Code named “New Steem” the hard fork 0.23 had two primary aims. The first was to reduce the power down period from 13 weeks to four weeks. The second was…

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New Partnership Adds Crypto Payment Routes on Shopify

Shopify sellers can now accept crypto via digital asset payment processor, CoinPayments. A partnership with crypto payment processor CoinPayments means bolstered digital asset payment compatibility for Canadian e-commerce giant Shopify.  “Shopify is a natural fit for us,” CoinPayments CEO Jason Butcher told Cointelegraph via email, adding: As they look to bring new features to their merchant base and CoinPayments works to drive cryptocurrency adoption globally, it makes sense to create an integration that enables easy, secure, and cost-effective transactions.” Shopify sellers can accepts thousands of assets Shopify sellers can now harness CoinPayments’…

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Price Analysis 5/20: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, ADA

Most major cryptocurrencies have turned down from their immediate resistance levels, which suggests a minor correction in the next few days. While retail traders fret over whether Bitcoin (BTC) will break above $10,000 or not, the institutional players silently continue to build positions. On May 19 major digital asset management fund Grayscale tweeted that its assets under management had increased over 80% from $2.1 billion to $3.8 billion over the period of one year.  This suggests that institutional money is gradually flowing into cryptocurrencies. The majority of the investment was…

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