Ukraine found fake exchanges, crypto exchanges are not protected, crypto is primitive for Switzerland, Hydro-Quebec sets new rules, Brian Kelly and Charlie Lee remain bullish, Zcash waits for Overwinter
- Ukrainian authorities have arrested four individuals suspected of operating six fake cryptocurrency exchanges.
- Cryptocurrency experts blame lax security at the hacked exchanges, as well as the booming popularity of digital currencies more generally. Moreover, crypto exchanges are purpose-built to move actual assets from one person to another and that can raise additional risks.
- Cryptocurrencies and the blockchain technology they run on are currently far too primitive for the Swiss National Bank to consider issuing a digital franc.
- Provincial utility Hydro-Quebec has proposed new rules, under which blockchain companies will be required to bid for electricity and quantify the jobs and investment they expect to generate per megawatt. The rates will be increased by up to 300%, which might make the mining process unprofitable.
- Both Brian Kelly and Charlie Lee remain bullish on Bitcoin despite the recent hack of Bithumb, which resulted in the theft of over $31 million worth of cryptocurrencies.
- Zcash is about to go through its first hard fork ’Overwinter’. D. Jane Mercer, the sole maintainer of the Windows Zcash wallet software, said he was going to cease development of the clients and release a Zcash competitor ‘rebranded as another coin’, if he didn't get further funding for his work.