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Today in Crypto – Friday, 8th November, 2019

Here are the 5 biggest news stories in crypto today:

  1. Found of Chinese mega BTC miner manufacturer held by police CEO of Chinese bitcoin miner manufacturer, MicroBT, is being questioned by local police. It is rumored that Zuoxing Yang, founder and CEO of MicroBT, is being held over allegations of stolen intellectual property and copyright infringement on Bitmain products.
  2. Silk Road drug dealer pleads guilty to washing $19 million in BTC Hugh Brian Harvey, a trader on the dark website ‘Silk Road’, used BTC to launder $19 million of profits through an exchange. Claiming to the exchange that funds were made through mining and trading, Harvey was caught out when police searched his home and found suspicious files on his computer. The suspect has pleaded guilty.
  3. Asian exchange and IEO host hacked Lesser known Vietnamese crypto exchange, VinDAX, has been hacked. Hackers stole around $500,000 in various cryptocurrencies. The exchange, known mostly for supporting upcoming crypto projects, has declared that it has already remedied the situation.
  4. FBI Director warns of the current and future crime enforcement issues of crypto Speaking to the US Senate Homeland Security and Governmental Affairs Committee, the director of the FBI outlined the issues with cryptocurrency and law enforcement, pointing directly the terrorist funding as a weak spot. Christopher Wray, the FBI director, stressed the importance of developing investigative tools that can trace funds in this new technological era.
  5. Cardano warns of rip-off project using same name Cardano has warned investors of a copycat project that has emerged in the crypto space, touting themselves as Cardano Gold. With logo and branding that alludes to an association with Cardano, the copycat is currently running a token sale, so Cardano cautions investors not to be fooled.