Cryptonews

• Bitcoin does not perform the functions of the currency well, according to the French central bank.
• The so-called stablecoins and CBDCs are also addressed in the study.

The central bank of France states in its most recent newsletter, dedicated to means of payment, that Bitcoin has not fulfilled its initial proposal to “replace legal currencies.” In the document entitled Digital currencies: from myth to innovative projects, the Bank of France also addresses stablecoins, as well as the experiments carried out by that institution with the digital euro.

The French central bank report also highlights the use of bitcoin as a “speculative investment” and to “make payments under a pseudonym, which helps protect privacy, but also facilitates the financing of criminal activities.” He even goes so far as to call Bitcoin a “pseudo-currency.”

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Key facts:

• Payoneer blocked funds affiliated with “Prepaid Mastercard” cards issued by Wirecard.
• The event reminds us of the typical phrase of bitcoiners “Not your keys not your money”.

Freelancers are constantly concerned about their money and it is understandable, with cases like the one that just happened with Wirecard and Payoneer. What could be one of the biggest financial scandals in Europe in recent years has become a lesson for freelancers, where Bitcoin could come out on top.

But before we start talking about the benefits that Bitcoin offers for freelancers, it is necessary to delve into the twists and turns of a controversy that has exploded in the heart of Germany. Wirecard is a payment processor with 20 years of experience, initially offering services to gambling and pornography websites. Over time it became increasingly specialized in digital payment methods, even issuing crypto debit cards.

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• Authorities trace the theft and laundering of cryptocurrencies related to North Korea.
• The OXT firm performs an analysis of the transactions involved and reveals the laundering methods.

A new report delves into the methods used by hackers affiliated with North Korea to launder stolen cryptocurrencies from their victims, primarily from crypto exchanges.

Based on the analysis of civil lawsuit number 20-606, filed on March 2 before the United States judicial authorities, the OXT firm analyzed the movements and transactions of Bitcoin and other networks, discovering the methods used by cybercriminals to hide their illegitimate transactions in cryptocurrencies.

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• Tether dominates among stablecoins in terms of bitcoin trading volume.
• Coinbase remains the leading cryptocurrency exchange for bitcoin in terms of trading volume.

On June 2 Coin Metrics released a report explaining various relevant facts about bitcoin market volumes.

Given the growing institutional interest in bitcoin, Coin Metrics decided to study the subject from the perspective of an institution that considers entering the market, distribution and size of bitcoin volume in various markets. The data expressed in that report was taken from the bitcoin market records in May 2020.

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• A group of hackers are demanding $42 million in cryptocurrencies or else they will publish sensitive information about the President of the United States, Donald Trump.
• The group of hackers known as REvil ransomware stole 1 terabyte in legal secrets from figures in the entertainment industry and has already given some details of their material to demonstrate that their threats are true.
• In addition to Trump, names such as Elton John, Robert DeNiro and Madonna are included.

Over the past few months, cryptocurrencies have shown sustained growth. As the price of Bitcoin rises and falls, the number of users who adopt this form of payment or investment is increasing.

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