Hackers: News of digital currency exchange platforms being attacked by hackers has been a frequent occurrence in the recent past. For example, Singapore-based digital currency exchange DragonEx made an announcement that it was pausing deposits and withdrawals due to system maintenance on March 24. The exchange later announced on Telegram that DragonEX suffered a security breach. So far, the exchange hasn’t disclosed the amount of cryptocurrency that was stolen, but thankfully other cryptocurrency exchanges collaborated with DragonEx and managed to stop at least some of the stolen funds from being cashed out. After the investigation, the security team found that customer service of DragonEx installed software from an unknown source, which contained code that allowed the hacker to access the same wallet addresses and keys as internal staff.
Bullish Key Players: Ethereum trader and crypto analyst ScienceGuy9489 has recently made waves in the crypto space after emerging from a long slumber that pre-dates the peak of the last bull run and sharing some charts that predict not only target prices, but break out dates for Bitcoin, Ethereum, Ripple, and Litecoin. The bullish calls were almost immediately validated when Bitcoin price rose nearly $1,000 in an hour – more than the previous two months of price growth combined. Since then, the analyst has become a bit of a crypto celebrity, sharing a number of charts and predictions on where the market will go next. In his latest tweet, the crypto analyst claims that a breakout above $5,260 in Bitcoin price charts, will “cause another bull run.” He further suggests that Ethereum, Litecoin, Ripple, and Stellar – other major cryptocurrencies in the top ten by market cap – are being held back by the critical resistance level. If the resistance is broken, he says to “expect big gains” if the rally is sustained.
Banks & Institutions: For the first time, Europe’s financial authorities have given the go-ahead for XRP and Litecoin to be packaged into new financial products, allowing them to be traded on a fully-regulated platform alongside equities and derivatives. Two new exchange-traded products, the XRP Tracker One and the Litecoin Tracker One, will launch tomorrow on Nordic Growth Market. The exchange is regulated by the Swedish Financial Supervisory Authority. The ETPs, which represent set amounts of XRP and litecoin, allow traders to gain exposure without having to own the underlying assets. They were developed by Sweden-based XBT Provider, a digital asset product issuer which launched the world’s first ever tradeable Bitcoin-based security on the Nasdaq Stockholm exchange in 2015. It launched a similar tracking product for Ether in 2017. The ETPs are fully-regulated. Both have ISIN numbers, which give them recognition in established finance as legitimate securities. This reportedly took time and a lot of legwork on the part of XBT Provider to incorporate the new products into the traditional system.
Adoption: The European Union has officially launched the International Association of Trusted Blockchain Applications — with IBM, Accenture and Deutsche Telekom among the 100-plus members to have signed the association’s charter at a ceremony at the European Commission in Brussels on April 4. INATBA was legally formed last month as an offshoot of the EU’s European Blockchain Partnership, with the explicit aim of “supporting interoperability, developing specifications, promoting standards and regulatory convergence to support the development and exploitation of innovative blockchain technologies.”