Authorities Seize 34 Illegal Crypto Miners Using Stolen Electricity
Authorities in Miri on the island of Borneo have shut down and seized the equipment of an illicit cryptocurrency mining operation stealing power from the local grid. According to the Borneo Post, Sarawak Energy discovered 34 cryptocurrency mining servers operating with stolen electricity through cable tapping. Authorities seized all of the operation’s equipment, including servers […]
Bendigo Bank Restricts High-risk Payments to Crypto Exchanges
Bendigo Bank is the fourth central Australian bank to impose restrictions on “high-risk crypto payments,” citing the need to protect customers from investment scams. The bank announced on July 31 that it had implemented new rules on instant payments to cryptocurrency exchanges that add “some friction” to “certain genuine payments,” according to Jason Gordon, the […]
Web3 Developer HashPort Raises $8.5M in Series C Funding
In a Series C funding round led by Sumitomo Mitsui Banking Corporation, The University of Tokyo Edge Capital Partners, and Japanese billionaire entrepreneur Yusaku Maezawa, HashPort raised 1.2 billion Japanese yen ($8.5 million). According to an announcement on July 28, the funds will enable HashPort to consolidate its business, acquire a compliance management system and […]
Crypto.com Receives Approval to Operate in the Netherlands
Crypto.com exchange has registered in the Netherlands and received permission from De Nederlandsche Bank to offer services there. The exchange announced that it had registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB) after thoroughly examining Crypto.com’s business practices and compliance with the country’s Anti-Money Laundering and counter-financing of terrorism requirements. As previously […]
Phoenix Technology Reportedly Plans an IPO in UAE
According to a report by Bloomberg, crypto mining hardware retailer Phoenix Technology is planning an initial public offering (IPO) in Abu Dhabi, UAE. Phoenix Technology, a mining operator based in the UAE, is constructing one of the most extensive mining facilities in the Middle East. The corporation holds distribution rights for various tech hardware manufacturers […]