Chinese Police Have Seized Over 1% Of All Bitcoin – November 27

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,808

Bitcoin price has fallen back below the $17,000 mark today, as it continues to find its feet following this week’s correction.

Top-20 altcoins are mostly in the red, as Ethereum drops 1%, XRP falls a little under 2%, and Litecoin loses 10% of its value. Stellar is the only coin in the green with a 10% rise.

Top Stories for November 27, 2020 πŸ”₯

πŸ‘‰ Chinese Police Have Seized Over 1% Of All Bitcoin

Chinese authorities have now seized more than 1% of the entire circulating Bitcoin supply, worth over $4 billion, in connection with a Ponzi scheme.

The scheme, known as PlusToken, promised users large payouts in exchange for deposits in various cryptocurrencies, which also included 0.73% of all ETH and 5% of all DOGE in circulation.

A total of 15 people have now been convicted in relation to the PlusToken scam.

πŸ‘‰ Upbit Announces Withdrawal Delay To Protect Users

South Korean cryptocurrency exchange Upbit has implemented a withdrawal delay in an effort to protect users from fraud attacks.

Upbit cited the issue of voice phishing, a type of scam that fools users to divulge account login information over the telephone.

The withdrawal delay feature gives users extra time to prevent a fraudulent withdrawal from their account, by delaying withdrawals for 24 hours before releasing the funds.

πŸ‘‰ Facebook’s Libra To Launch In January 2021

A report by the Financial Times claims that Facebook’s Libra cryptocurrency will launch as early as January 2021, in the form of a USD stablecoin.

According to the report, more fiat currencies will eventually be added to back the value of the Libra coin.