Bill Gates, Elon Musk and Jeff Bezos among 130 other high-profile Twitter accounts hacked over Bitcoin scam

More than 373 users fell for the scam, losing a total of INR 89 Lakh before the Tweets were removed, says cofounder of Giottus Cryptocurrency

Cryptocurrency can never be a common mans currency, says Subhash Chandra Garg

High-profile Twitter account holders, including former US president Barack Obama along with Microsoft Corp co-founder Bill Gates, Tesla CEO Elon Musk, Amazon CEO Jeff Bezos, presumptive Democratic candidate for president Joe Biden among others, on Wednesday (July 15), were the target of a Bitcoin-related scam. The well-orchestrated hack posted similar tweets, all instructing people to send Bitcoins to an unknown cryptocurrency wallet.

More than 373 users fell for the scam, losing a total of INR 89 Lakh before the Tweets were removed by the Twitter authority. Further, he said that the attacker had complete access to Twitter they could have posted anything from any of the official accounts, but they chose to seek Bitcoins through false promises, shared Arjun Vijay, cofounder and COO of Giottus Cryptocurrency.

Further, he said people should be more careful, and there is no easy money, and most crypto giveaways that ask for contributions are scams. We hope this brings awareness, and Twitter users do not fall for these kinds of scams again, Vijay added.

In the Bitcoin-scam aftermath, Twitter had temporarily blocked all high-profile verified accounts from posting or even changing their passwords while it investigated and sought to resolve the issue. Twitter said that it will provide more details on the issue in the future as and when the investigation unfolds.

According to the New York Times report, four young hackers were involved in the well-organised Twitter scam. The report stated that the Bitcoin scam was traced back to a group of hackers who met at OGusers.com, a username-swapping community where people buy and sell online handles. The Times noted that the Twitter hack is not from Russian or other sophisticated hackers but was done by a group of young people, one of whom says he lives at home with his mother.

Accordingly, two users, lol and ever so anxious came into contact with Kirk, who had access to most sensitive tools, which allowed him to take control of almost any Twitter account, including the 130 high-profile accounts that were being hacked, the report added.

According to Twitters blog, the hackers targeted Twitter employees through a social engineering scheme. In other words, social engineering schemes are the intentional manipulation of people into performing certain actions and revealing confidential information. Further, it stated that the attackers successfully manipulated a small number of employees and used their credentials to access Twitters internal systems.

As of now, we know that they accessed tools only available to our internal support teams to target 130 Twitter accounts, Twitter added.

The price of Bitcoin (BTC) at the time of writing was $9,172.20 with a market cap of $169.11 Bn, compared to last week (July 14, 2020) which stood at $9,186.59, with a market cap of $169.32 Bn.

Ethereum (ETH), on the other hand, was priced at $237.35, with a market cap of $26.54 Bn at the time of writing, compared to last week (July 14, 2020), where the price of the cryptocurrency was $227.24, with a market cap of $25.35 Bn.

The former finance secretary of India, Subhash Chandra Garg, the man behind the bill that proposed a blanket ban on cryptocurrencies, ten-year jail terms and an INR 25 Cr hefty fine, on Friday (July 17), discussed cryptocurrencies fate with the Indian industry leaders and experts, which included Nischal Shetty, the CEO of WazirX, and Siddharth Sogani, the founder of blockchain research company Crebaco.

At the webinar, he said that he approves of the use of crypto assets as regulated commodities, but said that it must not be allowed to function as currencies in India. Sharing his opinion, Garg said that the way cryptocurrency works is on the distributed ledger technology (DLT). Its a high investment technology. It can never be a common mans currency, he added.

COTI, an acronym for currency of the internet, recently announced its listing on the Indian crypto exchange platform WazirX. With this, COTI will be integrated with a Tether (USDT) cryptocurrency pair COTI/USDT on WazirX. COTI is the worlds first directed acyclic graph (DAG)-based blockchain protocol optimised for seamless and scalable payments and low transaction costs. It is one of the most secure and fast which can facilitate thousands of transactions per second.

Taipei-based blockchain security company CoolBitX recently announced its partnership with Elliptic, a crypto asset risk management platform to launch one the first operational Travel Rule solutions for crypto called Sygna Bridge. This combined tool is said to offer customers a complete solution to fulfil anti-money laundering and compliance obligations, including the Financial Action Task Force (FATF) Travel Rule.

Michael Ou, CEO of CoolBitX, in a press statement, said that the solution will provide customers with the ability to protect themselves from violating any Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) laws and regulations, allow them to assist regulators to combat illicit money laundering activities, and stay compliant with changing norms.

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Cryptocurrency This Week: Twitter Bitcoin Scam Explained & More - Inc42 Media

Artists are starting to lean towards crypto-powered fundraising, with Parisian artist Ben Elliot taking the first leap with the Ben Elliot Token (BET), which is to be launched in 2021 on the Stellar (XLM) blockchain network. The tokens are directly linked to his career evolution, meaning that the value of the tokens will presumably fluctuate according to the value of Elliots work. According to Elliots website, the BET will allow investors to profit by trading and selling the coin in the form of virtual artworks. Could cryptocurrency be the future of art dealership?

Elliot stated that BET is a tangible asset that can be directly converted into artwork. As the internet and social network rise, money, business, creativity and the ways one manages them are shifting. Creatives and influencers monetising their personal content and data have now become more valuable than some traditional industries.

First, lets go into what a cryptocurrency actually is. To put it simply, a cryptocurrency is a digital currency. To define it, the first part of the word crypto means hidden or secret, which reflects the secure technology that is used to keep track of ownership and payments between users.

Cryptocurrencies exist electronically and use a peer-to-peer systemor blockchain technology, which enables the existence of cryptocurrency. There is no central bank or government to manage it. Initially, blockchain technology was invented for the best-known cryptocurrency, the Bitcoin. Ripple, Litecoin and Ethereum are a few other different types of crypto assets.

So why has Elliot decided to make this move? The artist has been known to explore new systems of emerging trends, creation of values, artificial intelligence, robotics, virtual reality, decentralised internet and, in general, innovation. He often partners with companies from contemporary industries such as tech, advanced lifestyles and entertainment to highlight the concepts and values that they carry. But the context of his work primarily focuses on blurring the lines of reality.

In his extended and ongoing series titled Unreleased Selfies, Elliot released pictures of himself that were never published on social networks printed to the size of a 55 smart screen. He says that They are selfies that I originally took for my Instagram. I never published them because they were not good enough or because they were outtakes of other selfies. It is a kind of behind-the-scenes of my posts.

Elliot also reflected on his Resin Series, and stated that it started according to two millennial principles: dematerialization; and transactional communication. As observed by NumeroArts editor-in-chief, The truth of reality no longer opposes the fakeness of the virtual, the private sphere is no longer a protected domain, which directly links to Elliots venturing into the crypto-realm.

In an interview with FAD magazine, Elliot was asked whats real?. His response being, A human concept that is slowly losing its meaning. Art has always lived with a parallel importance to human nature, one being the reason to why art is created, and boughtart as an expression of feeling, the other being for investment purposesart usually, if marketed and looked after properly, gains value over time. There are multiple reasons why people buy art, of course. But Elliots reasoning behind a realness that is losing its meaning, truly reflects our concept of value today.

Something as abstract and conceptual as the reason for art mirrors the understanding of the volatile nature that cryptocurrencies possess. It also introduces the reasoning behind Elliots need to launch BET, without the banks or government in control of the value of a piece of artthe artworks value lies in the hands of the highest bidder. Instead it will be a collective encrypted database and the creative platform could, as Elliot hopes, open up opportunities for individuals to access these online exhibitions or viewing rooms, which are currently limited.

As we know, art is deemed to be broad by character, so BET plans to host physical events called the new summit, where investors will be able to discuss the trends of the internet market as a whole, the new summit will consist of exhibitions, talks, screenings featuring cultural innovations, also artificial intelligence and robots.

In his words, Elliot claims that BET will join the forces of technology and creativity through cryptocurrency, blockchain and art to make the smartest and most secure artwork ever. We might all be collecting tokens in the form of art next year, but lets see if we can trust the enigmatic world of electronic money first.

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The new cryptocurrency that could change how we trade art - Screen Shot

Digital asset trading, research and data company Brave New Coin has agreed a multi-year partnership with Toronto Futures Options Swaps Exchange tFOSE, a new Canadian-based derivatives exchange and clearinghouse currently seeking regulatory approval in Canada. Brave New Coin will design, calculate and administer a suite of cryptocurrency indices to power cash-settled options trading on tFOSE.

Canada has not yet made significant progress in bringing institutional-grade cryptocurrency products to the market. Brave New Coins indices will enable tFOSEs clients both in Canada and globally to trade crypto derivatives on a fully-regulated Canadian exchange. This allows traders to diversify their portfolios and exposure, hedge risk, and access an emerging asset class without having to directly hold the underlying cryptocurrency as they are cash-settled products.

After extensive research and due diligence, tFOSE selected Brave New Coin for its deep expertise in generating insightful crypto market data and indices, said James Beattie, President and CEO at tFOSE. Brave New Coin meets all of our needs, taking a unique approach to index design, methodology, and governance that will help tFOSe meet the specific, exacting needs of both our retail and institutional investors.

The crypto ecosystem is maturing and demand for regulated investment products from institutional markets is growing, says Fran Strajnar, CEO and Founder of Brave New Coin. Our partnership with tFOSE furthers our role as a leader in market data, indices, and benchmarking for crypto assets. Weve dedicated our company to building products that bring institutional-grade services to this emerging asset class.

Brave New Coin provides data and index solutions for several partners including NASDAQ, Amazon Alexa, BTSE.com, TPICAP and Dow Jones Factiva. When you ask Amazons Alexa for the price of any cryptocurrency, her answer comes from Brave New Coins data engine. Its partnership with tFOSE will see BNC providing unique, specialised indices to tFOSE.

BNC and tFOSE are already in the process of designing, developing, and testing the indices. The indices will be available for production in Q3 2020, beginning with the tFOSE BNC Litecoin Index. Cryptocurrency cash-settled options trading is expected to launch on tFOSE in 2021, subject to regulatory approval.

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Brave New Coin signs multi-year deal to power cryptocurrency options trading on tFOSE - HedgeWeek

VALLETTA, Malta, July 20, 2020 /PRNewswire/ --OKEx(www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has finished its Beacon Program- European Edition, which provided three masterclasses by prominent players in the cryptocurrency space and individual mentoring from top OKEx executives, including CEOJay Haoand Director of Financial MarketsLennix Lai.

Made up of a total of six participants with varying degrees of experience in cryptocurrency, the Beacon Program aimed to further education in the blockchain space and provide European participants- particularly hard-hit by the coronavirus pandemic- with the opportunity to explore crypto and blockchain in greater depth and even consider a new career path.

The first class of the series was given by Crypto 101's Matthew Aaron and Dani Ansalem, which offered a basic introduction to cryptocurrency, what to look at when investing in it, how to buy and store it, and other important factors to keep in mind. The second class by CNBC Crypto Trader's Lindsay Joo covered the ICO mania, with a particular focus on South Korea and on encouraging participants to examine the real utility of blockchain in a project at the time of investing.

The final masterclass was given by OKEx's very own Lennix Lai and took participants a little deeper into cryptocurrency, exploring the issue of tokenomics and why tokens make a far better form of equity than shares.

The feedback from participants was extremely encouraging, with one student, Phillip Taffley, commenting, "I found the Beacon Program very beneficial, and I am very grateful for being given the opportunity to be part of it." Beyond the masterclasses and daily news briefings, the program also provided mentorship, which Taffley received from Lennix. Taffley said, "As a newbie to the industry this aspect of the course was of particular interest. It helped me gain a good foundation upon which I built a wider understanding by conducting my own research."

One of Jay's mentees, Dmytro Sokoliuk, told OKEx,"Mr. Jay Hao gave me individual advice and said, 'You can think about what you're good at and interested in. For the topics of writings videos, etc., it's always good to focus on what's new in the crypto industry and give your own insights toward it.' Thanks to his words, I know that I'm moving in the right direction. [] I want to say an individual 'thank you' for each of the lectors and for having Jay Hao as a mentor."

For their part, the Beacon Program teachers also found the experience enriching. Lindsay Joo told OKEx that she was honored to be included in the program, saying that giving her class was both fun and rewarding, while Matthew Aaron was extremely upbeat, saying that he found the experience very enjoyable. "I love this stuff!" he enthused.

Jay concluded by saying,"We're extremely pleased with this first initiative of the Beacon Program masterclasses and mentorship. Overall, we found it a valuable experience and are encouraged by the feedback from the participants. Their comments are positive and have also highlighted ways we can improve the program in the future if we run a second edition."

Lennix added,"It was a privilege to share my knowledge with such motivated and ambitious participants. I would also like to say thank you to Lindsay and Matthew for giving their time and helping us make this a success."

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading- including futures, perpetual swap and options- of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

SOURCE OKEx

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OKEx Wraps Up Its Beacon Program Furthering Education in the Blockchain Space - PRNewswire

The U.S. Army Criminal Investigation Command (USACIDC) is looking for a web-based application that will allow it to trace cryptocurrency transactions.

According to public records, the U.S. Army is looking to enhance its cryptocurrency investigative capabilities. The Army says it needs the application to limit criminal activities where cryptocurrencies are involved.

The U.S. Army Contracting New Jersey (CC-NJ) located at Fort Dix, NJ is surveying the market for potential contractors capable of providing one license for one user of a cloud, web-based application capable of assisting law enforcement to identify and stop actors who are using cryptocurrencies for illicit activity such as fraud, extortion, and money laundering.

The Army says it needs to track Bitcoin and other top cryptocurrencies that could be used for illicit activities.

Application must enables [sic] users to conduct in-depth investigation into the source of cryptocurrency transactions and provides [sic] multi-currency analysis from Bitcoin to other top cryptocurrencies

This is a requirement for an already developed web-based application that meets the requirements of the attached Statement of Work (SOW).

Many government agencies are looking to enhance their cryptocurrency tracing capabilities. Recently, Coinbase was awarded a multiyear contract by the Secret Service.

The period for the Army contract will be a minimum of 1 year with up to 4 additional years based on the needs of the agency.

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The US Army Wants to Track Cryptocurrency Transactions Heres Why - The Daily Hodl

The ASXs strong stance against cryptocurrency linked companies has seen the exchange dump several companies and make it difficult for new players to list.

Now the crypto world has cottoned onto the fact that other exchanges are more welcoming.

This has seen new and existing players turn to the likes of the Toronto Stock Exchange (TSX) and the National Stock Exchange (ASX:NSX).

After being booted from the ASX in March, game maker Animoca Brands decided to list its fitness and health technology subsidiary OliveX Holdings on the NSX.

Hong Kong-based OliveX makes fitness apps, such as 22 Pushups and Lympo Squat which allow users to earn cryptocurrency by doing squats.

During the September quarter last year, Animoca raised $US2.01m ($2.9m) in cash and crypto via a Simple Agreement for Future Equity (SAFE) security, and also presold utility tokens via its gaming subsidiary TSB Gaming.

However, the company fell foul of the ASX which has repeatedly expressed its disapproval of companies raising funds via cryptocurrencies and subsequently departed the local bourse in March.

The ASX has also delisted other companies that were dabbling in crypto, including Byte Power and First Growth Funds.

The market operator is relying on guidance from ASIC that many initial coin offers (ICO) and crypto assets are likely to be managed investment funds at worst, and therefore need an Australian Financial Services Licence (AFSL).

Australian crypto payments service provider Banxa, which was established in 2014, is looking to become a listed company, and being a true-blue Aussie it wanted to list on the ASX.

But the difficulty in doing so has prompted it to head to the TSX Venture Exchange (TSXV).

I would have loved to have listed on the ASX given that the company was established in Australia and the key people are Australian, founder and non-executive chairman Domenic Carosa told Stockhead.

But this is an example of the ASX taking a view that crypto companies are basically not welcome on the exchange. From my perspective I think thats an unfortunate decision, and one that means Australian companies need to look abroad from a capital raising and from an exchange perspective.

However, Carosa said the two major Canadian exchanges, the TSX and the Canadian Securities Exchange (CSE), were both very open to crypto and crypto-related companies.

In trying to decide which exchange to list on, Banxa met with exchanges and advisors in Australia, Singapore, Hong Kong, the UK and Canada.

We decided on the TSX because theyre the largest exchange in Canada, Carosa told Stockhead.

In terms of the number of companies listed and the number of IPOs in the last 12-18 months, it just dwarfs the ASX.

We decided to list onto this exchange because we can very easily dual-list on the comparable US exchange once were listed on the TSX and once were at a certain size, theres a migration path to NASDAQ as well.

The TSX is the senior equity market, while the TSXV is a public venture capital marketplace for emerging companies. Both are owned by the TMX Group.

Australia is not completely off limits for crypto companies, however, with both the NSX and the Sydney Stock Exchange (SSX) open to listing them.

Irrespective of industry sector, the SSX is in the business of listing suitable companies through efficient, supportive and best in class governance listing rules which support growth companies to reach their potential, Antony Tolfts, director market supervision and listing compliance for the SSX, told Stockhead.

The SSX gives prospective companies, from all industry sectors, a fair go to provide an efficient path to market for qualifying growth companies.

Companies operating within the digital and crypto space would receive an objective review with the same due diligence and evaluation under the listing rules as any other company looking to list or already listed.

Tolfts said most companies operating in the digital and crypto sector used a blockchain platform to support their business.

The SSX is passionate about blockchain to support digital technology, Tolfts said, and its CEO Michael Go also sits on the board and began developing platforms as early as 2015 and the CEO of the SSX, Michael Go, also sits on the board of industry body Blockchain Australia.

Banxa expects to have a market cap of around $41m on listing, and Carosa was of the view that the TSXV would be a better fit than the smaller exchanges in Australia given the global nature of its business.

We just thought the TSX provides the right kind of coverage for a global company and the fact that we can dual list in the US and get access to North American investors was also quite attractive for us, he said.

Canadian and US investors are a lot less conservative when it comes to backing crypto companies, according to Carosa.

Australians by their nature are typically quite conservative, and so weve found the bulk of our investors have come from Asia and the Americas. There just seems to be much more appetite for a crypto-style business outside of Australia than actually within Australia, which once again is unfortunate.

Im originally from Melbourne and Im now living in Amsterdam. Ive been living here for the last four years.

For me thats a bit of a shame because my heart is still very much in Australia, but at the end of the day from a follow the money perspective, there is certainly more appetite and interest for crypto outside of Australia and weve just had to pursue a global exchange that reflects the values of Banxa.

Banxa just completed a pre-IPO funding round, which included ASX-listed tech investor Thorney Technologies (ASX:TEK), and is in the final stages of listing on the TSXV, which it expects to do within the next couple of months.

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ASX loses out on rising cryptocurrency trend as companies head for other exchanges - Stockhead

Bitcoin had another disappointing week providing a negative weekly return of 1.60%.

Bitcoin had another disappointing week providing a negative weekly return of 1.60%. Even though the flagship cryptocurrency entered Monday, July 13th, on a good posture by rising to a high of $9,345, the bears took full control of the price action. By the end of the day, BTC was trading at $9,224, roughly 0.82% lower than the weekly open.

The selling pressure spilled over the following days pushing Bitcoin down to hit a weekly low of $9,044 on Thursday, July 16th. Nevertheless, this price point appears to have encouraged sidelined investors to get back into the market. As the number of buy orders behind BTC began to increase, its price followed and closed Friday, July 17th, at $9,151.7.

From a technical perspective, the pioneer cryptocurrency remains flat, and its price is stuck within a narrow trading range that continues compressing as time goes by. The lackluster price action made the Bollinger bands squeeze even more than what was seen last week. Such behavior of this technical index can be considered as a sign that a period of high volatility is just around the corner.

Given the high probability of a strong breakout coming soon, there are two key hurdles that market participants must pay attention to in order to benefit from the next major price movement. A break of the $9,000 support level, for instance, would likely see Bitcoin plunge towards $7,750. On the flip side, moving past the $9,400 resistance barrier could propel it towards $10,000 or higher.

Those betting on the downside were the only ones who were able to benefit from Ethereums price action throughout the past week. Indeed, the smart contracts giant provided a negative weekly return of 4.16%.Ether kicked off Monday, July 13th, at $242.82 and quickly surged to an intraday high of $245.56, but this price level was able to reject it from advancing further. The rejection was followed by a 3.53% retracement that extended until Wednesday, July 15th. However, it seems like bears had not had enough, so they pushed ETH down another 2.98% to a weekly low of $229.84 on July 16th.

From that point on, demand for Ethereum spiked up, allowing it to recover some of the losses incurred. By July 17th, the second-largest cryptocurrency by market cap had climbed 1.25% from the weekly low to close at $232.72.

A glimpse at ETHs 1-day chart provides a certain clarity as the Tom Demark (TD) Sequential indicator is flashing a buy signal. The bullish formation developed as a red nine candlestick, which estimates a one to four daily candlesticks upswing. If validated, Ether could rise towards the $250 resistance level, but until this supply wall does not break, trading this altcoin poses a lot of risk.

A less risky trade will come once Ethereum closes above the $250 resistance level or below the $220 support level. In the meantime, the current price action does not give any clues about the trends direction.

Lower-cap altcoins continue to run the show, and that is palpable on the price action that Bitcoin and Ethereum experienced this past week. Despite the stagnation phase that the top two cryptocurrencies by market cap are going through, multiple indexes suggest they are bound for wild price movements.

Paying close attention to the different support and resistance levels previously mentioned is a must for the days to come. Moving past any of these price hurdles will provide a clear roadmap for where BTC and ETH are headed next. Until that happens, investors must remain on the sidelines to avoid getting caught on the wrong side of the trend.

Executive Director at CEX.IO. His area of responsibility includes customer relationships with institutional and VIP-clients, overseeing the creation of the companys development strategy, new products, markets and partnerships. As a member of the board of directors, Konstantin is also responsible for corporate governance.

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Los Angeles, CA, July 20, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) We have all known the saying, high risk equals high reward. This method of thinking has been around for ages since risking your entire savings on a business that could either succeed and make you a fortune or fail and cause you bankruptcy used to be your only two options of investments. This used to be the only method of thinking, until now. A new company OPM Wealth is trying to change that way of thinking with its low-risk high rewards wealth plan. Instead of managing your own costly business or sinking all your funds into stocks, they set you up with a unique wealth plan to ensure high payouts without using your own money.

Yes, thats right, you use other people's money to invest. With OPM Wealth's professional coaches they can help you refer people and profit off of the commission. The commission can come as fast as 24 hours after you meet the minimum. By utilizing other people's money and cryptocurrency OPM Wealth sets up a secure and safe way of investing. Do not let the cryptocurrency defer you, the professional coaches at OPM Wealth will be there to guide you through the lucrative currency. With their help you learn helpful tactics such as phone closing skills, contact management, multiple traffic sources, and automatic presentation funnel as well as a high ticket digital franchise. Instead of dealing with the weight of a traditional business all on your own, you are guided through the lucrative world of digital franchises. A high ticket digital franchise is basically a very profitable online business which as we have seen through examples like Amazon, is very profitable.

If you are simply looking for a secure income to fix your credit or gain financial stability this service is perfect for that too. OPM Wealth can help you can get set up on a road to achieve your financial goals and start making money anywhere in the world. Whether youre looking to save up or get the cash necessary to begin your next venture, OPM Wealth is there. Of course, as stated before you will never have to worry about your own finances being compromised since you will be gaining cryptocurrency off of other people's money. This system is made for the hungry and eager who want a way out of their normal life and are ready to take on the world of business and marketing. As amazing as all this sounds, there is no catch. OPM Wealth is the modern way to legitimately earn cryptocurrency and provide a digital franchise so that their customers continue to succeed and thrive.

This company does not play games or make false promises it simply provides results. OPM Wealth is the modern way of doing business by providing the opportunity for anyone to make money anywhere in the world. Although it sounds like an offer that is too good to be true all it takes is one call and a free OPM Wealth account to set yourself up with a road to financial success and freedom.

Contact:

Shazir Mucklai

Imperium Group

Shazir@imperium-pr.com

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OPM Wealth Shares Top Tips On High Risk and High Reward - GlobeNewswire

Mastercard is reaching out to cryptocurrency firms and encouraging them to apply to become partners as part of its newly-expanded cryptocurrency card program.

On July 20, Mastercard said it was simplifying access to its Accelerate program for crypto card issuers, allowing applicants to be onboarded as partners in a matter of weeks.

Now enhanced for crypto card applicants, the Accelerate program gives partners support with their market entry, continued growth and international expansion.

New crypto partners will be assisted in integrating Mastercards technology and will be in a position to benefit from the firms cybersecurity expertise and market research.

While it is streamlining access to its program for crypto firms, Mastercard has emphasized that all partners must comply with its core principles.

These include providing robust consumer protection (ensuring privacy and security for users), operating in compliance with relevant laws and regulations, such as Anti-Money Laundering rules, and establishing a level playing field for all stakeholders, such as financial institutions, merchants and mobile network operators.

Raj Dhamodharan, executive vice president of digital asset and blockchain products and partnerships at Mastercard, said:

The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in todays digital economy.

Parallel to reaching out to crypto card partners, Mastercard has also announced that London-based crypto payment processor Wirex has become the first native cryptocurrency platform to be granted a Mastercard principal membership, which will allow it to directly issue crypto payment cards.

Thanks to the membership, Wirex card users will be able to immediately convert their crypto holdings into fiat currency, which can be spent at points of sale that accept Mastercard. Currency will thus enter Mastercards network in the form of fiat, not cryptocurrency.

Wirex CEO and co-founder Pavel Matveev has said that the membership represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators. He added that partnering with Mastercard will help the firm to realize its vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal.

Wirex is regulated by the U.K.s Financial Conduct Authority and has a license to issue crypto cards in Europe. Earlier this year, it hit over 3 million active users, noting that increasing numbers of them are not typically hardcore cryptocurrency users.

Prior to partnering with Wirex, Mastercard collaborated with blockchain payments provider BitPay this June to launch a prepaid card for crypto users in the United States.

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Mastercard Expands Cryptocurrency Program for Crypto Card Issuers - Cointelegraph

As the crypto industryevolvesat a rapid pace, few cryptocurrency exchanges stand outfromthe manyhundreds ofcryptoexchangesavailablebasedonthe total value of crypto assets in dollar terms held on theirexchanges.

Data fromPeckShield, a securityblockchaincompany,revealed thatasatJune 30, 2020, the global digital asset exchange asset balance rankings (in terms of BTC+ETH+USDT assets converted into US dollars) are:

CoinbaseExchange, withtotal assetsvalued at$11.1 billion, rankingthefirst place.

HuobiExchange total assets of$5.79 billion, ranked second.

BinanceExchange total assets of$3.45 billion US dollars, ranked third,

Bitfinextotal assets of$2.99 billion, ranked fourth, and

OKExTotal assets of$2.52 billion ranked fifth,

Get research data from Nairametrics on Nairalytics

BitMEX, Kraken,Germini,mtGox,Bittrex. ranked sixth to tenthrespectively.

Quick fact:Crypto exchanges are simply exchanges orplatforms that facilitate the exchange of onecryptocurrency for another, the buying and selling of crypto assets, and most times the use of normal cash(fiat currencies)in exchange for a digital coin or cryptocurrency.Crypto exchangesalso help in determining the rate of these cryptocurrencies, based on demand and supply mechanisms.

In addition, taking into consideration the number of BTC & ETH addresses,onlyCoinbaseranked first with a total of 18.52 million addresses,Binanceranked second with a total of 5.42 million addresses,Bittrexranked third with a total of 3.23 million addresses,Bitstampranked fourth with a total of 3.19 million addresses, andHuobiranked thefifth, witha total of 1.93 million addresses.

READ ALSO: Tether mints 80,000,000 USDT to unknown wallets within 24 hours

This nearly 100 million in the address label, contains BTC address 60 Wan +, ETH address 30 Wan +, which the Exchange address labels nearly 53 million, accounting for over 75% of total coverage, including Huobi, Binance, OKEx, Coinbase Hundreds of exchanges including ZB, Bitfinex, Bitstamp, Poloniex,Bithumb, Gate.io,Upbit, KuCoin, and other head exchanges.

Recall that about a month ago,Nairametrics reported thefour biggestcryptoexchanges since 2018 (Coinbase, Binance,Huobi, andBitfinex) that received about 40% of all BTCs via exchanges this year.

The next ten crypto exchanges collected 36% in a combined volume of BTCs,leaving other smaller exchanges to share the remaining 24% of transfer volume.

READ ALSO: Chainlink breaks into top 10 most valuable cryptocurrency in the world

It should be noted that the process of finding the address of the exchange has a certain complexity. We first need to collect a part of the deposit and withdrawal addresses as seed addresses, and then use the Cerberus tool on the chain to crawl and store large amounts of related addresses. At the same time, we will also conduct the necessary off-chain verification of the mined addresses to ensure the accuracy of the addresses.

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Crypto exchanges with most valuable crypto-assets in the world - Nairametrics