TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Twitter hacked funds allegedly mixed with Wasabi services. Binance not authorized to operate in Malaysia. US Treasury accuses Zheng Group of drug related crypto money laundering. Ethereum daily transactions reach ATH numbers for 2020. Beijing reveals plans to become a blockchain city, and Brazilian crypto enthusiast Shadow Crypto funded to assist Bitconf.
Twitter Hack Funds Mixed With Wasabi
Hackers behind the Twitter attack that took control of important influencers and companies, such as Bill Gates, Elon Musk, Coinbase, and Binance, to promote scams, are already moving the funds. According to Elliptic, a blockchain security firm, 2.89 BTC (almost 22%) of the funds were moved to a Wasabi address, a wallet that uses several privacy enhancing procedures to mix the coins and obfuscate origins. Elliptic states it can recognize Wasabi wallet addresses based on peculiar transaction patterns.
Binance Not Authorized in Malaysia
Binance, the biggest cryptocurrency exchange in the world, received a blow from the Malaysian government, who stated the company is not authorized to offer services and products in the country. Binance was included in a Investor Alert List collected by the Securities Commission of Malaysia, and has been accused of “operating a recognized market without authorisation from the SC. The public is advised not to make any investment with companies/individuals that are not licensed,” the institution stated.
Treasury Accuses Zheng Group Allies of Drug Related Money Laundering
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four Chinese nationals for aiding the Zheng Group, a drug trafficking organization, under the Foreign Narcotics Kingpin Designation Act. Songyan Ji, Longbao Zhang, Guifeng Cheng, and Guangfu Zheng are being accused of aiding the Zheng group, facilitating payments that later would be laundered using cryptocurrencies. The OFAC already blacklisted several bitcoin addresses related to this group back in 2019.
Ethereum Daily Transactions Reach ATH Numbers for 2020
Ethereum daily transactions rose to a historic number this week, posting a record for this year according to data provided by Etherscan, an Ethereum block explorer. The graphic for transactions shows a steady increase in demand for ETH transactions, currently totaling over 1 million daily. The ATH number on daily Ethereum transactions happened during January 2018. The Ethereum ecosystem has since boomed, introducing stablecoins such as Tether and USDC and decentralized finance protocols such as Compound and Maker.
Beijing Reveals Plans to Become a Blockchain City
Beijing, the capital of China, released a document specifying a series of plans to establish itself as the first blockchain hub in the country. The hefty 145 page document presents 12 cases where blockchain can be used in a variety of industries, including logistics and cross-border trade, enterprise banking, billing, property management, regulation and governance. China has been a fierce promoter of blockchain, and is the first country having proposed and developed a central bank digital currency, known as DCEP.
Brazilian Enthusiast “Shadow Crypto” Funded to Promote Bitcoin Cash at Crypto Conference
Shadow Crypto, a Brazilian cryptocurrency enthusiast, completed a fundraising campaign to assist to a local cryptocurrency conference called Bitconf, to be held in his country between September 10-13 of this year. Shadow Crypto used read.cash, the writing platform, to present his case and asked for donations to fund his trip and expenses. In less than a day the community answered the call and donated more than 430 dollars to the initiative. Shadow Crypto announced he would give a lecture about Bitcoin Cash, and start a meetup at the event.
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