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Japanese Court To See First Ever Case Against Crypto Jackers

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Japan are sending out a very bold message to the rest of the world when it comes to cryptocurrencies. It’s a very firm but open message, yes, cryptocurrencies are welcomed and encouraged in Japan, but, if you break the rules, you’ll suffer the consequences.

Frankly, this is exactly what the rest of the world needs, an authority figure that seems to be doing it right.

Back to the point anyway.

According to reports out today, Yokohama District Court in Japan will be the first to host a case against three crypto-jackers who are accused of malicious activities within the Monero network. The activities in question include using ‘Coinhive’ to maliciously mine Monero. Not only is this the first time such a case has reached the courts in Japan, it could very well see the three accused become the first people to be sentenced for crypto-jacking and malicious cryptocurrency mining based crimes.

The suspects are alleged to have been involved in using Coinhive to mine cryptocurrencies through websites and through innocent user’s hardware in secret. This is possible through Coinhive’s JavaScript Miner that can be fixed onto websites, Coinhive itself is not a malicious programme but within this case, the suspects are believed to have used it for malicious purposes.

According to CCN:

“The three suspects include a web designer and another individual who has been fined ‎¥‎100,000 ($900) by the Yokohama Summary Court for ‘illegally storing a computer virus’. The defendant has argued that the software, Coinhive, is not a virus and is a software script that brings monetization similar to online ad distribution platforms.”

Moreover:

“Still, authorities have decided to press charges against the individuals for operating websites “without clear notices about mining”. The criminal case will be taken to trial at the Yokohama District Court in what will be Japan’s first crypto-jacking criminal prosecution.”

See the full report by CCN for yourself, here-
https://www.ccn.com/monero-miners-to-see-charges-in-japans-first-cryptojacking-criminal-case/

For now, this case will continue to hit headlines in and around Japan. What it does highlight is that authorities in Japan do mean it when they say they are clamping down on malicious cryptocurrency activities. This resonates with the recent regulations imposed by financial authorities within Japan onto cryptocurrency exchangesetc too.

They are shaping their future to be more accepting of cryptocurrencies, a key part of that will involve seeing that justice is served to criminals, in the hope that in the future, the increased chances of getting caught will put more people off engaging in cybercrime.

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Crypto Arbitrage Today: XLM, LTC, Dash, TRX, EOS, XMR

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As the overall cryptocurrency bear market continues to rage on in full effect, the moneymaking opportunities involving Bitcoin and altcoins are slowly drying up. There is still money to be made by playing the spreads, but arbitrage opportunities may slowly become a better option at this rate. The following six options are worth keeping in mind throughout today.

Dash (Bittrex / Kraken / HitBTC)

Another day of price gaps between exchanges and another day selling altcoins on HitBTC will yield the best results. In the case of Dash, there are options to buy the altcoin cheap on either Bittrex or Kraken and selling it on HitBTC for profits of 1% up to 2.39%.  These gaps are more than respectable under the current circumstances, especially because all markets are hemorrhaging value right now. That also means the price differences between trading platforms will grow larger over time.

Stellar Lumens (KuCoin / Binance / Sistemkoin)

A fair few different price gaps have opened up where XLM is concerned. Buying on Kraken or Binance and selling on HitBTC can yield a profit of 1.5%. Buying on KuCoin, Kraken, or Binance and selling on Bitexen will yield profits of up to 2%. Buying on Binance and selling on Sistemkoin offers gains of up to 0.9%. All options are well worth looking into for those who want to score some small profits during this next leg of bearish pressure.

Monero (Bittrex / Kraken / HitBTC)

As has been the case more often than not, arbitrage opportunities for both Monero and Dash – and often ZCash – are all identical. They revolve around buying on the same exchanges, selling on the same trading platform, and yielding nearly identical profits. Flipping XMR between Bittrex / Kraken and HitBTC can yield a 2.5% profit when timed correctly. A more than respectable option, given the current circumstances.

Tron (Binance / KuCoin / HitBTC)

Buying any currency that is listed on HitBTC from any platform that isn’t HitBTC will often yield some profits these days, it seems. In the case of Tron, buying TRX rather cheap on either Binance or KuCoin and selling it on HitBTC will yield profits of roughly 1.3%. It is a somewhat small spread first and foremost, but these small profits can all add up to pretty decent gains throughout the day.

EOS (Binance / KuCoin / HitBTC)

It shouldn’t come as much of a surprise to learn the arbitrage opportunity involving EOS is identical to Tron’s. These two coins often follow very similar patterns when it comes to exploiting price gaps, for some unknown reason. In today’s edition, the EOS price on Binance and KuCoin is 1.7% lower compared to HitBTC, which makes for a very easy and straightforward direct arbitrage opportunity.

Litecoin (Bitstamp / Binance / HitBTC)

For those who want to sell Litecoin on HitBTC for a profit, buying on Bitstamp, Binance, Kraken, or KuCoin are all viable options to score profits ranging from 1.2% to 2.5%. When buying on Bitstamp, there is also an option to sell on Cex, Bitfinex, or VeBitcoin for a gain of 1.8% on average. All of these options are rather profitable, although it may take some organizing to explore the best options at any given time.

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Bitcoin

Crypto Price Watch: Waves (WAVES) and Maker (MKR) Continue to Showcase Strong Market Support

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At press time, around 85% of the world’s top-30 altcoins lay in the red zone, with premier assets such as Bitcoin Cash (BCH), Stellar (XLM), Bitcoin SV showcasing losses of around 10%, 5% and 6% respectively (over the course of the past 24 hours). However, in the midst of all this chaos, crypto coins such as Maker (MKR), Waves and Ethereum Classic (ETC) have continued to rally strong, with the aforementioned currencies gaining 10%, 3%, and 1.5% respectively.

What’s Causing MKR to Surge?

One of the primary factors that could be behind Maker’s amazing run is the fact that investment fund ‘a16z crypto’ recently bought a whopping 6% of the total MKR token supply for a sum of USD $15 million. As a result of this deal, a16z crypto now owns a tangible stake in the functional decentralized stablecoin (which bytheway makes use of formally verified smart contracts).

At this point, it is also worth mentioning that ‘a16z crypto’ is owned and operated by VC firm ‘Andreessen Horowitz’. The aforementioned deal was facilitated by former federal prosecutor Katie Haun (who is now a partner at a16z).

Additionally, over the course of the past few weeks, there have been other developments that too have spurred the overall adoption of MKR all across the globe. For starters, the dev team at Opera (the web browsing application) announced yesterday that they had created an all-new lightweight crypto wallet solution that allows users to ‘store and transact’ altcoins such as Dai and MKR using a pre-built extension module on the browser

Lastly, MKR is also now live on the Wanchain main net. In regards to the matter, the Maker team released the following tweet:

“The Dai token will utilize Wanchain’s cross-chain functionality allowing for Bitcoin to be exchanged for Dai in a fully decentralized manner”

Can Waves Sustain its Amazing Run?

As many of our readers may already know, over the course of the past month or so, the price of Waves has increased quite significantly (with the currency even breaking into the top-30 a couple of weeks back). However, such pump and dumps are quite ordinary within this volatile market and thus it remains to be seen if Waves can continue its amazing performance in the coming few days and weeks.

One of the most intriguing aspects of the Waves project is the that by next year, the dev team wants to deploy ‘atomic swaps’ into their native operational module. As a result of using this technology, the Waves ecosystem will not only be able to make asset trading much more streamlined but also make digital altcoin transfers cheaper and more secure.

Some of the other key developments in relation to Waves that are worth noting include:

  • Decentralized 2-FA: Once implemented, this technology will help usher in a new era of decentralized security since it allows for the creation of a new layer of internet privacy.
  • Smart assets: In regards to this technology, the Waves team claims that once this feature is live in its final iteration, it will allow devs to create complex smart assets on the Waves blockchain (thus allowing traders to indulge in even more unique financial exchanges).

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Bitcoin

Bitcoin Cash Price Heads South of $90 Once Again

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Nothing ever comes easy in the world of cryptocurrency and digital assets. As all markets remain subdued for yet another day, it seems there will not be any real improvements moving forward. For Bitcoin Cash, things have looked bleak all year, and the pressure hasn’t relented just yet. In fact, the value now sits below $90 again following another big loss over the past 24 hours.

Bitcoin Cash Price Dip Is not Over

No one will be really surprised to learn there is yet another deficit for the Bitcoin Cash price as of right now. Not just because all other markets are down as well, but primarily because the recent network protocol upgrade has left a mark on this fork of Bitcoin. As such, there are a lot of investors and speculators who are bailing on anything that isn’t Bitcoin. That is only to be expected, especially when the market remains uber-bearish.

Over the past 24 hours, there has been another near 10% drop for Bitcoin Cash in USD value. Additionally, there is a 7.2% decline in Bitcoin value. It has been a while since BCH dipped below the 0.025 BTC mark, yet it seems that may happen pretty soon at this rate. For now, there is no indication the current market sentiment will turn around, neither for BCH nor any other asset or currency on the market.

The positive news is how there will be yet another Bitcoin Cash Meetup in Pasadena this weekend. Events like these usually help to spread the word about specific projects, as well as get existing investors a bit more excited about what the future may hold. This Meetup will apparently discuss the “exciting roadmap for BCH’. An interesting aspect, as BCH needs a plan for the future.

On the other side of Twitter, there are those who are still pretty annoyed with the Bitcoin Cash “split” that happened about a month ago. Ever since this happened, the value of all cryptocurrencies has decreased significantly. One has to wonder if the Bitcoin SV creation is the only reason for this bear trend, which was in effect well ahead of this network upgrade.

A similar sentiment is echoed by Adhik Joshi, who isn’t too amused by all of these coins deriving value just because they have “Bitcoin” in their name. As such, he dislikes both Bitcoin Cash and Bitcoin SV, a sentiment that has been rather apparent for quite some time now. It will be interesting to see how things play out for all Bitcoin-named currencies over the coming weeks.

Based on the current market conditions, it would appear there is no genuine improvement in sight whatsoever. All markets continue to struggle, despite some positive momentum on the hourly charts. Those gains are incredibly difficult to turn into a sustainable trend these days, which only adds more fuel to the proverbial fire. For now, a Bitcoin Cash price dip to $85 or potentially even lower is not out of the question.

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