cryptocurrencies
New York (AFP) - Even for a sector regularly rocked by bankruptcies, the collapse of FTX –- a cryptocurrency platform worth $32 billion at the beginning of the year -- came as a shock. FTX founder Sam Bankman-Fried had cultivated friends in Washington and basked in glowing tributes when he stepped in to rescue other ailing crypto companies earlier in the year. Yet, all it took for his firm to unravel was a report on a specialist website raising doubts about FTX's accounts, followed by a few tweets from his big rival Changpeng Zhao, boss of Binance. Just days later, Zhao -- who had feuded for ...
AFP
London (AFP) - Regulators have repeatedly criticised the growth of cryptocurrencies such as bitcoin because of their popularity with criminals but the technology's transparent transactions can also work against law breakers. The lesson is one that has been learnt by cybercriminal hackers Darkside the hard way after the organisation extracted a $4.4 million ransom from oil company Colonial Pipeline in bitcoin. Following the ransomware extortion, which forced the shutdown of a major fuel network in the eastern United States last month, the US Justice Department said it has clawed back $2.3 milli...
AFP
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