• Coinbase
    Alt coins,  Bitcoin,  Cryptocurrencies

    Coinbase cautious after Bitcoin Cash accusations

    On heels of completed investigation, exchange indicates they’ll handle new coins differently

    Just before Coinbase formally added Bitcoin Cash () to its trading platform in December of last year, the price skyrocketed. Candles showing Bitcoin Cash’s price were tall and green. Rumors that someone inside Coinbase leaked the addition of the new coin to the trading platform—or that employees themselves were taking advantage of the chance to buy low—were rampant. Eight months later, Coinbase says their internal investigation into insider trading is complete. The company told Fortune they found no evidence of wrongdoing and did not terminate any employee as a result of their investigation. “We would not hesitate to terminate an employee or contractor and/or take appropriate legal action if evidence…

  • crypto handcuffs
    Canada,  Europe,  Regulation,  United States

    Five countries join forces to crack down on crypto tax crimes

    Tax authorities from US, UK, Australia, Canada, and Netherlands coordinating enforcement

    A group of five nations have formed an international alliance to fight cryptocurrency-related tax crimes and money laundering schemes. The Joint Chiefs of Global Tax Enforcement, or J5, includes tax agencies from Australia, Canada, the Netherlands, the United Kingdom, and the United States. Authorities from the five countries hope the collaborative effort will increase their success in combating cross-border tax crimes. “We will work together to gather information, share intelligence, conduct operations, and build the capacity of tax crime enforcement officials,” the group said on its new page on the IRS website, adding that J5 plans on piloting new approaches and conducting joint operations against offshore tax crimes. Cryptocurrency allows…

  • Cryptojacking
    Cryptocurrencies

    Cryptojacking skyrockets 629%: McAfee

    Report also says malware threats were up by more than 1,100%

    A new report issued this week by software security firm McAfee shows a stunning surge in malicious attacks on computers to mine cryptocurrency. McAfee Labs reports a 629 percent increase in coin miner malware found during the first quarter of 2018. Malware threats, the report says, were up by more than 1,100 percent. The method, called cryptojacking, takes over a system, allowing hackers to discreetly confiscate computing power and mine cryptocurrency in the background. A system’s user can be unaware this is going on, other than noticing their computer operating slower than normal. “Compared with well-established cybercrime activities such as data theft and ransomware, cryptojacking is simpler, more straightforward, and…