BITCOIN

A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made possible by a tip-off from the public. Malaysia’s Sarawak Energy and Police Uncover Illegal Crypto Mining Camp in Miri The state utility company, Sarawak Energy, and the local police department announced the dismantling of an alleged unauthorized crypto mining camp set up in Miri, Sarawak, Malaysia. Authorities captured roughly 34 application-specific integrated circuit (ASIC) miners and their associated connections. “All the equipment used for the mining operation, including the direct tapping cables and servers, were seized. A police report has been lodged and an investigation is currently underway,” Sarawak Energy stated. Compared to other global regions, electricity rates in Malaysia are relatively low. As such, Sarawak Energy repo

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using the Chinese yuan, and Sazmining announced the launch of mining operations in Paraguay. Argentina to Complete IMF Payments With Chinese Yuan The government of Argentina will complete part of a disbursement to the International Monetary Fund (IMF) using the Chinese yuan. According to sources linked to Economy Minister Sergio Massa, the $3.4 billion that must be settled this July will be made using “CAF funds, with yuan, and other sources of financing.” The Argentine government recently obtained a “bridge loan” from the CAF (the Latam Development Bank) of $1 billion, effectively getting indebted to pay for its outstanding debt with the IMF. If completed, this would not be the first time that Argenti

Two masterminds of the Telecoin cryptocurrency scam will each serve more than six years in jail after a court in the United Kingdom found them guilty of fraud. According to Lee Parish, the detective chief inspector, the duo used the allure of crypto investment to dupe prospective investors. Fraudulent Sale of Shares A court in the United Kingdom has convicted and jailed masterminds of the Telecoin cryptocurrency scam Ross Jay and Michael Freckleton to more than six years in prison each. In sentencing the duo, the Southwark Crown Court said Jay and Freckleton had orchestrated a fraudulent sale of shares and used the proceeds for personal gain. According to a statement on the City of London Police website, the duo perpetrated the scam between 2015 and 2017. During this period, the two scammers successfully convinced their victims to deposit a little over $650,000 into a bank account which they controlled via their company Digi Ex. Commenting on how Jay and Freckleton were able to d

Recent statistics reveal that in the past fortnight, about 270,000 units of ethereum ( ETH ) were deposited into liquid staking derivative protocols. Currently, these decentralized finance (defi) staking platforms hold an estimated 10.65 million ether locked within their systems. Ethereum Liquid Staking Landscape Continues to Swell Liquid staking platforms based on ethereum ( ETH ) have continued to attract sizable deposits, as evidenced by an influx of 270,000 ETH , equivalent to slightly above $505 million at present ETH exchange rates. Back on July 14, 2023, about 10.38 million ETH was secured in these platforms, a figure that experienced a surge to 10.65 million by July 29. Lido Finance continues its reign over these 23 liquid staking applications, claiming 74.31% of the market share. Two weeks ago, Lido held 7.71 million ether within its infrastructure, a figure which has since climbed to 7.91 million. Coinbase, with its grip on 10.99% of the liquid-staked ETH market sha

PRESS RELEASE. Road Town, BVI, July 30, 2023 – LBank Exchange, a global digital asset trading platform, will list DBear Coin (DBC) on July 31, 2023. For all users of LBank Exchange, the DBC/ USDT trading pair will be officially available for trading at 6:00 UTC on July 31, 2023. DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. Its native token, DBC, will be listed on LBank Exchange at 6:00 UTC on July 31, 2023, with the goal of expanding its global footprint and supporting the realization of its forward-thinking objectives. Introducing DBear Coin DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. DBC serves as both a membership point