$20M Ether hacked from poorly configured Ethereum apps
According to Chinese internet security firm Qihoo 360 Netlab, hackers have stolen $20 million in Ether from poorly configured Ethereum mining rigs and third-party applications. Experts at the firm say the cyber attacks target unsecured Ethereum nodes on the Internet.
Crypto mining company to be listed on London Stock Exchange
A new company that lets people mine cryptocurrencies through phones and computers using a subscription service has announced plans to list on the London Stock Exchange, a first for the exchange.
Argo Blockchain said it hopes to raise £20 million in the listing and expects to be valued at around £40 million. Argo says it will be the first crypto mining company to join London’s stock market.
Financial services industry spends $1.7B on blockchain
The financial services industry spends $1.7 billion annually on distributed ledgers, according to researcher Greenwich Associates.
The study shows the budgets spent on blockchain increased 67% last year, with one in 10 banks and other firms reporting spending in excess of $10 plhom. Likewise, the number of employees working on blockchain initiatives doubled last year.
Richard Johnson, vice president of Greenwich Associates Market Structure and Technology said more than three-quarters of projects that are currently under development are expected to go live within two years.
CFTC calls for crypto exchanges to share trading data
The US Commodity Futures Trading Commission (CFTC) has requested that several crypto currency exchanges – Bitstamp, Coinbase, itBit and Kraken – exchange trading data to determine whether manipulation is affecting the crypto market.
While the CFTC’s investigation is still at an early stage, it shows that regulators have a serious interest in putting crypto exchanges under its supervision. In particular, the CFTC is investigating whether the market is affected by trading practices such as spoofing or whether traders are entering into major artificial price increases.
Korean banks plan to use blockchain to verify customer ID’s
A national banking group in South Korea plans to roll out a blockchain-based ID verification system for domestic commercial banks.
The new system, BankSign, will offer local banks an option to replace the existing ID verification system that has been in place for decades in South Korea.
The new blockchain ID service, which will be available for both online and mobile banking, marks one of the first efforts by commercial banks in South Korea to make blockchain applications available for general consumers.
Kraken Daily Market Report for 11.06.2018
KRAKEN DIGITAL ASSET EXCHANGE
$212M traded across all markets today