Craig Wright loses case; ordered to pay 500,000 BTC – August 28

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $9,695

The cryptocurrency market was doing fine until about an hour ago, when Bitcoin quickly plunged 5%. Of course, it took with it the rest of the market: Ethereum is down 8%, XRP is down 6%, and so is Bitcoin Cash. The top-20 is flooded with coins down between 3% and 10%, all within the last few hours.

Top Stories for August 28, 2019 πŸ”₯

πŸ‘‰ Craig Wright loses case; ordered to pay 500,000 BTC

Craig Wright, the Australian Bitcoin SV proponent who has been dubbed “Faketoshi” for pretending to be the creator of Bitcoin, has recently been battling it out in court with the Kleiman family. Wright is alleged to have entered in a 50:50 venture with the late Dave Kleiman in mining more than one million Bitcoin.

Yesterday, a judge ruled that Wright would have to pay the Kleiman family over 500,000 Bitcoin, worth approximately $10 billion, as well as any legal fees incurred.

πŸ‘‰ Confirmed: China to launch state-backed cryptocurrency

There’s been plenty of talk of a Chinese state-backed cryptocurrency over the last year, and the idea is only getting more prevalent.

However, it has now been confirmed by a person knowledgable on the matter that China does indeed plan to launch a cryptocurrency of its own within coming months. It plans to distribute the currency to major Chinese retailers such as Alibaba to hasten its adotpion.

πŸ‘‰ French police shut down Monero-mining malware

Retadup was a piece of malware which had infected nearly one million computers, using victims’ computing power to mine millions of dollars worth of Monero every year.

The cybersecurity branch of the French police have succeeded in taking down the botnet by using a backdoor to cause the malicious application to self-delete.