The IRS offers a $625,000 bounty to anyone who can break Monero and Lightning

The United States Internal Revenue Services (IRS) has offered a bounty of up to $625,000 to anyone who can break purportedly untraceable privacy coins like Monero (XMR) as well as trace transactions on Bitcoin’s (BTC) Lightning Network.  The official proposal, published last week, says the IRS will accept submissions in the form of working prototypes until September 16. If accepted, applicants will receive an initial payment of $500,000. This grant will allow applicants to develop their prototype into a working concept over the next eight months. Once the pilot test…

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New DeFi Project Xfinance(XFI) ILO Presale Will Start Today

As the cryptocurrency world is experiencing rapid growth, decentralized finance (DeFi) platforms are also rising. In early 2019, there were only $275M of crypto collateral in the DeFi economy than the current $5 Billion+; this represents the massive adoption of this platform. XFI Presale Xfinance announced earlier that they would cooperate with LID Protocol to launch the XFI ILO presale. The presale is going to be launched on the LID presale dApp on September 10th 9pm(UTC-7). Liquidity Dividends Protocol (LID) advances the development of divided bearing Proof of Locked Liquidity…

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US Treasury blacklisted a non-existent ETH address in connection with alleged Russian election interference

Earlier today, the U.S. Department of the Treasury updated its Specially Designated Nationals List, adding several individuals and a number of cryptocurrency addresses. One of the individuals added was Artem Mikhaylovich Lifshits — a Russian national, accused of interfering in the U.S. elections.  In addition to disclosing his personal information, the site lists a number of cryptocurrency addresses that he allegedly controls. One of the Ethereum addresses, found at 0xa7e5d5a720f06526557c513402f2e6b5fa20b00, does not seem to exist, however. Source: U.S. Department of the Treasury. There was likely a mixup somewhere in the chain of command and…

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Square Launches Cryptocurrency Open Patent Alliance – Bitcoin Magazine

Today, mobile payments company Square launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit focused on keeping patents from becoming barriers to innovation in the space. “Crypto organizations (or even governments) have filed for hundreds of patents on cryptocurrency technology and continue to do so in large numbers,” a Square representative explained in a statement shared with Bitcoin Magazine. “Locking up foundational cryptocurrency technologies in patents stifles innovation and adoption; and offensive use of patents by bad actors threatens the growth of cryptocurrency technologies.” For instance, notorious Bitcoin fraudster Craig…

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Another DeFi exit scam just made off with $20M in investor funds

The rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators’ money. “A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol,” media outlet ZyCrypto wrote on Sept. 10. The project shilled its vaporware hard via Twitter and messaging apps such as Discord over the past 48 hours, ZyCrypto detailed. Cointelegraph tried tracking down details of the effort, but all traces of the scam appear…

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Ticino Blockchain Technologies Association Has Been Established

Lugano, 10 September 2020 – The Ticino Blockchain Technologies Association aims to promote research and support innovative companies active in the Blockchain sector, as well as to promote academic studies of this new technology, thanks to the participation of USI (University of Southern Switzerland) and SUPSI (The University of Applied Sciences and Arts of Southern Switzerland). Blockchain is today a much-discussed technology. It is often said, as with the advent of the Internet, that this technology could change many things with a direct impact on a variety of sectors through…

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Developers propose a solution against ‘stealth mining’ to Ethereum Classic community

Earlier today, Dexaran presented its solution to the Ethereum Classic (ETC) community aimed at preventing future 51% attacks. The presentation came a week after Cardano’s IOHK introduced its checkpointing proposal. Dexaran notably used IOHK’s Crowdcast channel for its competing solution. This new proposal is founded on the assumption that many 51% attacks involve so-called “stealth mining”, where an attacker, in isolation, would secretly mine a longer fork of the chain. This technique was used in a recent attack on the ETC, which cost OKEx $5.6 million. The proposal hinges on the…

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DeFi tokens rebound with 19% bounce in 24 hours

After a bloody week for decentralized finance (DeFi) projects that saw numerous tokens plummet by up to 50%, the DeFi sector has rebounded by 19% in one day. Ether is also up 11% over the past 24 hours. According to Messari, 32 of 37 DeFi tokens are up today, posting gains of between 3% and 39.6%. Top 10 DeFi tokens by 24-hour performance: Messari Swerve (SWRV) tops the daily charts, followed by Yearn Finance (YFI) with a 37.6% gain, Loopring (LRC) with 29.9%, Aave (LEND) with 29.4%, and SushiSwap (SUSHI)…

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SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency

A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as well as investing it into crime, it said. “Identified cases of laundering through cryptocurrencies remain relatively small compared to the volumes of cash laundered through traditional methods,” SWIFT noted, in a report titled “Follow The…

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