China allegedly sponsoring attacks on crypto projects – August 14

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price: $10,215

The cryptocurrency market has taken a sizeable hit over the last 24 hours: Bitcoin is down 6.5%, Ethereum is down 9%, and XRP is down more than 10%. Altcoins across the board are experiencing drops in the 6% to 10% range; among the top-20, just Bitcoin SV and LEO Token are breaking even.

Top Stories for August 14, 2019 🔥

👉 China allegedly sponsoring attacks on crypto projects

ATP41 is a Chinese cyber-hacking group which has targeted both business and consumers in a variety of industries, including healthcare, media, and cryptocurrency.

FireEye, a major US cybersecurity company, has determined “with high confidence” that the hacking group is sponsored by the Chinese state. Attacks on cryptocurrency projects already include numerous crypto-related phishing emails and malicious browser-based cryptocurrency mining code.

👉 FCA: XRP has similar properties to Ethereum

Very recently, the UK’s chief financial regulatory body, the Financial Conduct Authority (FCA), said it would not be regulating Bitcoin or Ethereum, leaving some speculation on the regulatory future of other currencies.

While the FCA has not yet made clear its exact intentions regarding the popular XRP currency, it has most recently compared XRP to Ethereum, in saying that it has both “exchange” and “utility” properties. Perhaps intentionally, the FCA did not comment on whether the token has “security” features.

👉 SEC files charges against Veritaseum founder

Veritaseum is a cryptocurrency project which raised almost $15 million in its 2017 ICO. However, its founder, Reginald Middleton, is alleged to have made numerous misrepresentations to investors.

The SEC has just filed charges against Reginald and his two limited liability companies for these “misrepresentations and omissions.” An emergency freeze has already been placed to preserve $8 million of the near $15 million collected.

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