Seoul, April 13 (IANS) The central bank on Monday called for the introduction of mechanisms similar to the bourse operator’s circuit breakers for cryptocurrency exchanges, citing the absence of such systems as a key factor behind a recent erroneous payment incident.In February, Bithumb attempted to distribute bitcoin worth about 620,000 won (US$460) as prizes for a customer event, but accidentally ended up distributing 620,000 bitcoins worth about 60 trillion won due to an employee input error, …
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New Delhi, March 22 (IANS) As the West Asia conflict escalates, Bitcoin and the overall crypto market declined further on Sunday, after US President Donald Trump warned to attack Iran’s power plants if the Strait of Hormuz is not reopened within 48 hours.Bitcoin touched $68,241 per coin and if the hostilities remain elevated, Bitcoin can lose even more. Otherwise, it may attempt to reclaim lost ground and reestablish its prior range above $70,000.Over $240 million in crypto positions vanished …
New Delhi, March 17 (IANS) A Delhi court on Tuesday sent Ayush Varshney, co-founder and Chief Technology Officer of Darwin Labs Private Limited, to judicial custody till March 30 in connection with the alleged multi-thousand-crore GainBitcoin cryptocurrency fraud case. Varshney was produced before the Rouse Avenue Court following his arrest by the Central Bureau of Investigation (CBI), which is probing the alleged scam estimated to be worth around Rs 20,000 crore.The investigation concerns an al…
Seoul, Feb 10 (IANS) Financial authorities began a formal investigation on Tuesday into Bithumb, a local crypto exchange, to determine how it was able to pay out over 60 trillion won ($41.2 billion) in bitcoins it apparently did not have, industry sources said.Regulators informed the crypto exchange Monday that an investigation will be conducted, three days after they conducted an on-site inspection, according to the sources, reports Yonhap news agency.”We are taking this case very seriously,” a…
Hyderabad, Feb 9 (IANS) The Directorate of Enforcement (ED) has seized cryptocurrency equivalent to $12,000 and Rs 13.5 lakh unaccounted cash during searches at six locations in Ahmedabad in connection with an investigation into large-scale illegal call centre operations involved in cheating foreign nationals, mainly citizens of the United States.The ED, Hyderabad Zonal Office, conducted search operations on February 4 under PMLA, 2002.The Central agency said in a press release on Monday that th…
Seoul, Feb 8 (IANS) Bithumb, one of South Korea’s crypto exchanges, said on Sunday it will reimburse customers who suffered losses from panic selling triggered by an internal transfer error last week.The cryptocurrency exchange mistakenly transferred 620,000 bitcoins to 249 users participating in a promotional event around 7 p.m. Friday, reports Yonhap news agency.That amounted to an average of 2,490 bitcoins worth 244 billion won ($166 million) per user. Some recipients sold the bitcoin, causin…
Mumbai, Feb 6 (IANS) World’s largest cryptocurrency Bitcoin extended losses on Friday, falling over 6 per cent to about $66,198 as risk aversion, heavy liquidations, weakness in technology stocks, and fears of tighter US monetary policy rattled investors.Bitcoin saw its sharpest single‑day decline since late 2024 on Thursday when it slid 12.6 per cent to roughly $63,300, its lowest level since October 2024, wiping out billions of asset value in dollar terms, multiple reports said.Analysts sa…
Washington, Jan 2 (IANS) Global family offices are increasingly turning their attention to India as a long-term investment destination, driven by diaspora-led entrepreneurship, technology innovation, and the country’s expanding role in the global economy, the organizer of the world’s largest and most exclusive gathering of family wealth has said.India is emerging as a key focus area for wealthy investors looking beyond traditional markets, particularly as Indian-origin entrepreneurs who built …
Mumbai, Dec 28 (IANS) Bitcoin has seen a sharp pullback in 2025, sliding nearly 30 per cent from its record high levels as weak trading activity, technical breakdowns and continued selling by long-term holders kept prices under pressure. Despite the decline, improving regulation, growing institutional involvement and expanding blockchain adoption are keeping long-term optimism alive, with 2026 increasingly being seen as a potential turnaround year for the crypto market.Over the year, the crypto …