Bitcoin Daily: Hackers Move $40M In Stolen Bitcoin To Digital Wallets; Traders Consider Blacklist To Fight Crypto Crime


Some of the biggest cryptocurrency firms are considering the creation of a blacklist of counterparties that often renege on trades or engage in illegal activities.

Firms including DRW Holdings Inc.’s Cumberland crypto unit, Mike Novogratz’s Galaxy Digital Holdings and Ripple discussed the idea at a gathering Tuesday (May 7) in Chicago. In addition to the blacklist, another solution included establishing an accreditation of firms that would receive a good standing approval via crypto businesses known as the Crypto OTC Roundtable Asia (CORA).

“A community-wide effort to improve compliance standards would prevent liabilities that might stem from trading with bad actors or dealers that trade with bad actors,’’ Darius Sit, a Singapore-based managing partner at crypto trading firm QCP Capital, said, according to Bloomberg. “A self-governance initiative like this is also something that regulators are keen to see.’’

In others news, Hedera Hashgraph is at a new stage of testing for its high-speed public ledger technology, which will allow developers and users to test different network capabilities. In conjunction with Phase II, the company will also open source both iOS and Android versions of the Hedera Wallet, as well as the Hedera Browser Extension and WordPress Plug-In.

“Community testing is invaluable to the success of the Hedera network. Phase II of our Community Testing Program marks another milestone for us. Early on, we saw the potential for Hashgraph to make peer-to-peer microtransactions a reality, processing many thousands of transactions per second, making it the ideal distributed ledger to reshape online services. Phase I of this program concluded earlier this year, and we are excited to build on this progress,” Mance Harmon, CEO and co-founder of Hedera Hashgraph, said in a blog post.

Hackers have transferred bitcoin worth over $40 million to a number of digital wallets.

Major crypto exchange Binance revealed this week that hackers had stolen around 7,000 bitcoin through phishing and viruses. Now London-based blockchain analytics company Coinfirm reported that the stolen coins have been moved through several digital wallets, with almost all the coins now sitting in seven digital addresses.

But while the movement of the coins can be traced, the identity and location of the hackers is still unknown, according to Reuters.

And a unit of Société Générale sold 100 million euros ($112 million) of covered bonds in the form of digital tokens — and the French bank was the only buyer.

Although it declined to discuss the transaction, SocGen revealed last month that its security token “explores a more efficient process for bond issuance.’’ It was registered on the Ethereum blockchain and earned the highest credit rating from Moody’s Investors Service and Fitch Ratings, Bloomberg reported.


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