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South Korean cryptocurrency startup reportedly pulls a $2.7M exit scam

Nov09
by on November 9, 2018 at 3:17 pm
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


2018 will certainly go down as the year of the exit scam as yet another initial coin offering (ICO) has disappeared out of thin air – along with millions worth of investors’ cryptocurrency. Blockchain company Pure Bit has seemingly walked off with $2.7 million worth of investors’ money after raising 13,000 Ethereum in an ICO. Transaction history shows that hours after moving all raised funds out of its wallet, the company proceeded to take down its website. It now returns a blank page. Victims report Pure Bit has already deleted its social media accounts; it has also kicked out all…

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The Bahamas is issuing cryptocurrency regulations to fight fraudulent ICOs

Nov09
by on November 9, 2018 at 3:06 pm
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


Regulators from all over the world have been waking up to cryptocurrency regulation this year and it seems the Bahamas are the latest to open their eyes. The Central Bank of the Bahamas (CBOB) has published a regulatory framework in preparations to integrate cryptocurrency-based assets into its financial services industry, according to the Nassau Guardian. The framework seeks to address many of the regulatory challenges the CBOC currently associates with the use of cryptocurrencies such as tax evasion, market volatility, fraudulent initial coin offerings (ICOs), and anti-money laundering policies. The CBOB believe the cryptocurrency industry’s approach to international regulation is…

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Please don’t rent a kitten from this horrible company

Nov09
by on November 9, 2018 at 2:51 pm
Posted In: Around the Web, distract


“Welcome a furry visitor to your home or office! The puppy or kitten can stay for just a day or overnight. And if you fall in love, you can be its forever home!” When I first read this tagline by American startup Rescue Time, I admittedly got a little excited. Having a whole litter of tiny fluffs crawling over your desk? That’s like living the dream, right? Well, it’s not. At least not for them. For them, it’s actually pretty awful. Let’s take a closer look at what Rescue Times does. The company offers kittens and puppies — no adult…

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