Binance seizes Cryptopia funds – January 16

Current Bitcoin Price: $3643 (as of 9:00 AM PST)

In spite of yet another exchange hack, the cryptocurrency market is only down an average of around a half a percent. Bitcoin, which amounts to around half of the market’s total capitalization, is leading the way with a fall of just 0.52%. In comparison, XRP and Ethereum have fallen by 0.14% and 4.42% respectively.

EOS is one of few coins that have appreciated today, having grown in value by just 1%, along with Cardano, which has grown more than 3%.

Top Bitcoin & Crypto News Stories for 16th January 2018

Binance seizes Cryptopia funds

In yesterday’s newsletter, we covered the story of New Zealand cryptocurrency exchange Cryptopia falling prone to yet another hack. Although details about the hack are unclear, more than $11 million of tokens are suggested to have been displaced — a certain fraction of which had been moved to cryptocurrency Binance.

Binance is a popular choice for crypto money laundering, due to the lack of KYC (know your customer) legislation on the exchange. However, Binance has been able to identify a portion of Cryptopia’s stolen funds and have frozen them.

Delays expected for Ethereum upgrade

Constantinople is the name of Ethereum’s much-awaited upgrade, which will take the form of a hard fork to the Ethereum network. Developers hope that Constantinople will significantly reduce the gas costs associated with using the network.

However, a potential security vulnerability has been found in the Constantinople upgrade — just hours after developers called it the “least eventful” fork yet — which has caused the upgrade to be pushed back until further notice.

One year anniversary of Bitconnect death

2017 saw a unique cryptocurrency investment opportunity take over the news and grow on the charts. That investment opportunity was Bitconnect, a cryptocurrency which promised compounding gains of 1% daily for all investors.

One year ago today, Bitconnect shut down its operations after having been outed as a pyramid scam.