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Cryptocurrency scammers conned Australians out of $14.8M in just 7 months

Aug13
by on August 13, 2019 at 12:40 pm
Posted In: Around the Web, cryptocurrency, Hard Fork


Cryptocurrency investment scams in Australia cost victims a record $14.76 million between January and July this year. That’s according to the Australian Competition and Consumer Commission (ACCC). The commission states that many of these fraudulent operations leverage social media platforms, fake celebrity endorsements, or online trading platforms that are made to look legitimate in an attempt to attract prospective investors. In a statement promoting a scheme seeking to raise awareness about fraudulent activity in the country, ACCC Deputy Chair Delia Rickard urged citizens to learn about modern scams to stay protected. “People need to update their idea of what a scam is…

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SEC takes action against financial charlatan who operated a $14M fraudulent ICO

Aug13
by on August 13, 2019 at 12:34 pm
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


The United States Securities and Exchange Commission (SEC) is taking action against a New York-based individual in an attempt to safeguard investor funds that were raised through an allegedly fraudulent initial coin offering (ICO). The SEC filed a complaint yesterday against “self-described financial guru” Reginald Middleton and two of his companies, Veritaseum LLC and Veritaseum Inc. In the complaint, the SEC is calling for emergency stop action to prevent Middleton from being able to access what remains of the funds he raised in the “VERI Token” ICO. At present, Middleton is in possession of $8 million worth of investor funds –…

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23 job sites to report Google’s job search for EU antitrust violation

Aug13
by on August 13, 2019 at 11:31 am
Posted In: Around the Web, Google


In a letter seen by Reuters, 23 job search websites in Europe are calling for an antitrust investigation into Google’s job searching tool. The letter, which will be sent to EU Competition Commissioner Margarethe Vestager today, demands the EU stop the company’s its unfair practices until the it has concluded a full investigation. 23 job search websites in Europe call for an antitrust investigation into Google‘s job searching tool,  which will be sent to EU Competition Commissioner Margrethe Vestager today. Google‘s job search rivals demand that the company will be made to stop its unfair practices until the EU has…

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Poloniex to repay $18M worth of Bitcoin lost in margin trade flash crash with trading fees

Aug13
by on August 13, 2019 at 10:40 am
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


Cryptocurrency exchange Poloniex has announced a new scheme to reimburse users affected by an unexpected “flash crash” that saw 1,800 BTC ($20 million) wiped from its margin trading lending pool in May. An official blog post promises to return trading fees (in Bitcoin) to impacted lenders until all losses have been repaid. “Every time you pay a trading fee, we will convert the fee to BTC and then credit you those fees each day. Your first credit will include all the trading fees you have paid since June 6, 2019,” wrote Poloniex. Poloniex supports peer-to-peer margin trading, a system in…

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Tumblr was bought for the same price as a modest family home in San Francisco

Aug13
by on August 13, 2019 at 10:21 am
Posted In: Around the Web


Yesterday, Automattic, the creator of WordPress, announced it had acquired Tumblr for “less than $3 million” from its previous owner, Yahoo. It’s an inauspicious fall from grace for the site, which was previously sold to the search giant for $1.1 billion. Why did Yahoo sell one of its prized possessions for a mere 0.27 percent of its original purchase price? It’s a question that’ll puzzle many, as unlike other faded social platforms, Tumblr still has a die-hard userbase, and continues to pull in a respectable amount of traffic. I’d postulate that Tumblr was simply too troublesome to monetize and moderate,…

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