Notable cryptocurrency-related headlines from the past 24 hours include (i) Coinbase’s listing of EOS on Coinbase.com and rolling out of a new security feature; (ii) reports that U.S. authorities are investigating North Korean hackers accused of executing a number of cryptocurrency-related hacks; and (iii) the clamping down by Huobi Global on wash trading activity in the wake of Bitwise’s recent in-depth report.
At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $8,261.8 (-5.2%) and $254.7 (-10.1%). As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,020.8 (+1.5%).
Coinbase Lists EOS on Coinbase.com, Rolls Out New Security Feature
U.S.-headquartered cryptocurrency exchange Coinbase announced the addition of support for the EOS (EOS) cryptocurrency at Coinbase.com and in the Coinbase Android and iOS apps. It went on to point out that buying, selling, converting, sending, receiving, and storing EOS would “not initially be available for residents of the United Kingdom or the state of New York.”
Hours later, Coinbase revealed the launching of support for Universal 2nd Factor [U2F] security keys, “a strong way for Coinbase [and Coinbase Pro] users to protect their account.” In a blog post, Coinbase describing U2F security chips as “tiny hardware tokens [that] contain cryptographic chips that perform the hard work of ensuring that you’re authenticating to the correct website – and that nobody else can authenticate while pretending to be you.”
U.S. Authorities Investigating North Korean Cryptocurrency Hackers
U.S. intelligence authorities have reportedly accused North Korean hackers of orchestrating large-scale cybercrimes involving cryptocurrency hacks, mining, and bank theft, according to reports by the Korea Herald.
The multiple security breaches by North Korean entities have been primarily motivated by political and economic sanctions imposed on the nation by the U.S.
— CryptoGlobe (@CryptoGlobeInfo) May 30, 2019
‘Surprised’ Huobi Deals with Cryptocurrency Wash Traders
Following its inclusion in Bitwise Asset Management’s recent reputation-damaging report prepared for the U.S. Securities and Exchange Commission (SEC), Huobi Global – one of the world’s leading cryptocurrency exchanges – claimed it had identified “a few of [its] market makers conducting what [it] suspect[s] may have been wash trading for the sake of performance and marketing purposes.” The market makers in question have since stopped adopting such strategies, CoinDesk reported.
Upon reading Bitwise’s publication – which suggested the popular crypto exchange reported inauthentic trading volume – Huobi’s team were “surprised,” according to comments from chief executive Livio Weng. Huobi is reportedly in the process of updating its policies in an effort to avoid issues related to washing trading moving forward.