A Google Play Scam App Tried to Sell Fake Ethereum for €335 per Coin

google play scam

Although Twitter scams bring crazy amounts of money to their authors, fraudsters also try out new ways to steal money from naive crypto lovers. This time the criminals developed a fake application on the Android service Google Play Store.

What scammers did was absolutely insane: they put up their app with the logo of Ethereum on it and tried to convince users that by buying this app they would receive 1 Ethereum coin. The scam app cost €335 (mind you, the current price of ETH in euro is 246.35).

Crazy as it seems, there were still people that fell for it, about 100 users downloaded the app. Luckily, the app has been blocked and deleted, so there would be no more victims.

We would like to remind you that Google Play is now blocking crypto mining apps.

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Google Is Removing Apps That Require User Info

It is already 2019, and this year cyber criminals and scammers are working on their evil plans for this year. Meanwhile, companies tend to pay more attention and allocate more funding for cyber security and strengthen the protection on the people’s information.

Google is also quite concerned with the privacy of its users. It is going to remove all applications from its Play Store that require the users to provide their personal information, like SMS and call log data.

According to the official blog post:

Our new policy is designed to ensure that apps asking for these permissions need full and ongoing access to the sensitive data in order to accomplish the app’s primary use case, and that users will understand why this data would be required for the app to function.”

This new policy was first announced in October of 2018, and all app developers were given 3 months to alter the applications or submit the Permissions Declaration Form.

The restriction will concern not only “foreign” apps, but also the applications developed by Google itself.

We remind you:

Google Play Store Banned App For Mining Cryptocurrency

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Swedish Scammers Try to Sell Fake National Cryptocurrency

The main bank of Sweden, Riksbank, is warning its customers and all citizens of the country about the scam cryptocurrency roaming around – a fake e-krona.

On certain websites and in social media, false information is circulating claiming that the Riksbank is selling e-kronas,” is stated on the official site of the bank.

In fact, the project of launching a state-run digital currency appeared back in 2017. This is due to the fact that less and less Swedish people are using physical money when buying things.

Experts say that by 2025 half of all establishments in the country will stop accepting cash.

Meanwhile, the official project of e-kronas is still in the making, a lot of things have to be finished, thus, the Swedish cryptocurrency will not come out any time soon.

Riksbank warns that any person who claims to be selling e-kronas, especially on behalf of the bank, is a fraudster.

We remind you:

The Most High-Profile Scam Projects of 2018

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“51% Attack” Hit Ethereum Classic: A Full Analysis Of The Process

As we have reported earlier, Ethereum Classic was hit by 51% attack, it means that hackers obtained more than 50% of network’s mining hashrate.

A Malicious “51% Attack” Hit Ethereum Classic, The Loss Allegedly Accounts For $460 000

Slowmist, Chinese-based blockchain journal, has released a full report on the attack. The earliest hit occured on January 5, the culprit hacked some exchanges, like Bitrue, Coinbase, Gate.io, however, this was noticed only two days later.

The first action was a transfer of more than 5000 ETC from Binance to the criminal’s address 0x24fdd25367e4a7ae25eef779652d5f1b336e31da. This amount of coins moved to a mining node, that created block 7254355. After that, the hacker deposited 4000 ETC to Bitrue exchange in block 7254430, yet, this transaction vanished from the Ethereum Classic chain. Another 9000 ETC was stolen in the same way. The Bitrue address 0x2c9a81a120d11a4c2db041d4ec377a4c6c401e69 no longer exists, and the official history is clear. Though, Bitrue managed to save some records:

The scheme of the hacker attack is simple:

  • make a deposit;
  • withdraw to a safe address;
  • to double coins – just move the coins to other addresses.

One of the biggests victims is Coinbase exchange. It was estimated that the loss from the attack accounts for $1 million. The above-mentioned report also provides the information about two attacker addresses which were blackmailed by Coinbase later. They are:

– 0x090a4a238db45d9348cb89a356ca5aba89c75256
0x07ebd5b21636f089311b1ae720e3c7df026dfd72

In Twitter, one of users (nickname: @OGBTC) claimed that he knew the culprit personally.

https://twitter.com/OGBTC/status/1082559086070136832

Another user (nickname: @sebseb7) indicated that it was he who knew the hacker.

The “51% Attack” is over for now. All we can do is to estimate the losses and to take measures so that it will not happen again.

The report also stated:

“[W]e recommend that all digital asset services platform block transfers from the above malicious wallet addresses. And strengthen the risk control, maintain a high degree of attention, and be alert to double spend attacks that may erupt at any time.”

We remind you:

The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

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The “Fatal 2018” or The Most Important Events Of The Year

The digital coins market shows a negative trend throughout the year 2018. Compared to the historical maximum, the total cryptocurrency market cap has decreased by almost 8 times. The cryptocurrency market shows a negative trend throughout 2018. During the year, news of the cryptocurrency market that are actively discussed in media, have a negative meaning. Let us recall the most important events that occurred on the cryptocurrency market.

Content:
(please, click the topic to scroll down to it)

  1. Banking system against digital coins
  2. Internet restrictions
  3. Bitcoin ETF
  4. Formation of legislation
  5. Attracting of institutional investors
  6. Active development of the OTC market
  7. ICO Market Growth
  8. Cryptocurrency companies entering the IPO market
  9. Integration of financial conglomerates
  10. Integration with Internet companies
  11. Conclusion

1. Banking system against digital coins

At the very beginning of 2018, traditional financial institutions began to limit the capabilities of participants in the cryptocurrency market. A large number of fairly large banks around the world began to close the accounts of companies whose activities are related to cryptocurrency. We may also recall the decision of Visa to terminate cooperation with major European companies. All this adversely affected cryptocurrency companies. But it is worth noting that the restrictions of banks affected not only legal entities, along with this ordinary customers also lost an opportunity to buy cryptocurrency through their credit and debit cards.

A similar policy of the Reserve Bank of India led to the fact that local cryptocurrency platforms closed crypto-fiat trade. In the middle of autumn, Zebpay cryptocurrency exchange was forced to close the cryptocurrency exchange service. A similar situation happened in Zimbabwe, but cryptocurrency companies were able to challenge this decision with the help of the Supreme Court of the country.

Such policy of traditional financial sector representatives speaks only of their concern and desire to get rid of a potential competitor. If to analyze the cryptocurrency market, it becomes obvious that this industry is developing too fast. This makes the financial giants to tremble with fear and uncertainty about the future. This event played a big role in crypto market cap lowering.

2. Internet restrictions

Another damage to the cryptocurrency industry in 2018 was caused by the largest Internet companies: Google, Twitter, Facebook, Baidu, Alibaba, WeChat, Yandex, etc. All of the above mentioned information giants banned the promotion of cryptocurrency and ICO on their sites. This decision caused corresponding consequences, namely, undermined confidence towards the industry, and also cryptocurrency market capitalization decrease. Mining applications were blocked in App Store.

The Internet giant’s representatives explained their decision by the fact that there is a huge number of scammers in the cryptocurrency industry, which trusting users should be protected from. However, just a few months later, Facebook and Google reconsidered their decision and partially canceled it.

3. Bitcoin ETF

One of the most discussed topics in the industry since mid-summer of 2018 is the possible launch of Bitcoin ETF. The fact is that the situation in the cryptocurrency market strongly depends on the SEC decision. We remind you that cryptocurrency market value growth, which occurred in November-December, was caused by the launch of futures at CBOE and CME. Many experts believe that the launch of ETF will be a much more powerful event than the last year’s futures.

But the situation that has developed around this issue is quite controversial. On the one hand, the SEC does not deny the possibility of giving permission to launch Bitcoin ETF. But on the other hand, The United States Securities and Exchange Commission rejects all applicants (or postpones the date of consideration) who submitted the application during the year. The staff of the SEC explain their reasons quite uncertainty.

It is worth mentioning that during 2018 a lot of funds and exchanges have submitted their applications: ITS, Direxion, VanEck, Winklevoss Bitcoin Trust, ProShares, SolidX, etc.

Based on the latest data, the Securities Commission must make a final decision on the ETF before February 27, 2019.

We want to remind you:

SEC Will Release the Decision on Bitcoin ETF in February

4. Formation of legislation

The cryptocurrency market`s fall, which began in early 2018, was caused by many reasons, one of them is the lack of a legislative base. In other words, at the moment the cryptocurrency market is not regulated at all. Just this year, a large number of changes were to occur in this matter. But, unfortunately, everything happened not the way it was expected.

It is worth noting that this year many countries of the world drafted bills, that in one way or another dealt with cryptocurrencies. Some states limited the presence of digital coins on their territory due to the complexity of regulation. Others, on the contrary, encouraged and developed this direction in every way. For example, on July 4, 2018, blockchain technology was officially legalized in Malta for the first time in the world.

At the end of the winter, the German authorities signed a law under which Bitcoin equated to legal means of payment and was thus released from taxation.

This year was the first time in the history of the industry, when the regulation of cryptocurrency was discussed at the highest international level. For example, the mechanisms for regulating the industry became an agenda at the G20 meeting. It was decided to postpone this topic till October, but no one has returned to it thoroughly so far. This also had a negative effect on the cryptocurrency ranking.

5. Attracting of institutional investors

This year, for the first time the entry of large players into the market was seriously discussed. The interest of institutional investors in cryptocurrency assets is confirmed by a survey of an independent consulting company Capgemini:

  • 44% of the surveyed large capital owners are interested in cryptocurrency investments;
  • 29% of the surveyed large capital owners showed high interest;
  • 27% of the surveyed large capital owners expressed moderate interest.

Another interview, which was conducted by an independent consulting company DeVere Group, says that almost 40% of large business owners want to see a list of cryptocurrencies by market cap in their investment portfolios.

6. Active development of the OTC market

The situation on the cryptocurrency market today is as follows (according to CoinMarketCap):

  • market capitalization of 130 billion dollars;
  • 24h trading volume is about 16 billion dollars.

The situation is not the best, to say the least of it. But it is worth noting that the second mark is not entirely correct. The fact is that we see only turnovers that relate to stock trading. According to the company TABB Group, the UTS trading market is approximately 2-3 times higher than the stock index. It should be noted that such transactions cannot be traced when dealing with blockchain, since private keys from wallets are transferred more often than coins.

There is a sufficient number of large players in the cryptocurrency market (large miners, investors, ICO organizers, etc.), who cannot satisfy their demand with the help of exchanges. More and more OTC platforms began to appear due to the growing demand in the industry.

7. ICO Market Growth

Even regardless of depressing mood on the cryptocurrency market, the number of ICO held in 2018 is much more than in 2017: more precisely, 741 vs 514. The amount of raised funds also grew: $18.16 billion vs $6.89 billion.

The most discussed project of this year was undoubtedly TON from Pavel Durov, who managed to attract $1.7 billion. These funds were obtained even without public ICO, and Durov had to refuse from the overwhelming majority of those who wanted to invest in his brainchild.

But if to consider the amount of collected money, the undoubted leader is the EOS project, which managed to raise about 4.2 billion dollars. This mark is the best not only in this year, but also in the entire history of the industry as a whole.

But even such major events as EOS or TON could not help a fading interest of people to invest in cryptocurrency at the stage of the initial coin offering. The situation is caused by a general decrease in the capitalization of the cryptocurrency market in 2018. Because of the downtrend on the market, the vast majority of coins now cost less than at the ICO stage.

8. Cryptocurrency companies entering the IPO market

ICO is certainly a rather convenient way to raise capital, but despite this, many cryptocurrency companies expressed their interest in entering the more traditional IPO market. The initial public offering or IPO is regulated by the SEC. Investors are more protected there and this fact attracts people with large capital.

As of the beginning of December 2018, only one company successfully conducted its own IPO, all the others did not go further than applications or plans announcement for the future so far. In August of this year, there was an initial public offering of Argo Mining Company. It works in a cloud mining field. The company’s results are quite good, it managed to raise $32.5 million during IPO.

9. Integration of financial conglomerates

As we wrote above, some large financial institutions have limited the cryptocurrency industry development by their policies. But it does not concern absolutely all financial conglomerates of the planet. In parallel with the collapse of the cryptocurrency market (financially), we can observe the world’s largest banks integration into the industry (Goldman Sachs, HSBC, Barklays, etc.).

At the very beginning of the year, Goldman Sachs, with the help of a startup Circle, bought one of the largest cryptocurrency exchanges Poloniex. The official sum of this transaction was not disclosed, but according to analysts’ estimates, such a purchase costed them about $400 million. It is worth noting that, Goldman Sachs invested $136 million in a startup Circle before acquiring Poloniex.

In early autumn the largest financial conglomerate of the land of the rising sun (Japan) Mitsubishi UFJ Financial Group started its own MUFG coin in a test mode. If the test is successful, then the representatives of MUFG promise to introduce it into their own payment system.

The Bank of America and other major financial institutions owners in the world got curious in Technology Ripple (xCurrent), which helps banks to save about $3 on each transaction. This year, a number of major banks and the Ripple company signed cooperation agreement. It was highly expected, because xCurrent technology allows banks to save tens of millions dollar a year.

10. Integration with Internet companies

Along with the negative news background that accompanies the cryptocurrency industry throughout the year, an increasing number of Internet companies are trying to integrate digital coins into their product. For example, a few months ago, the Opera browser for Android released support for a built-in cryptocurrency wallet. At the moment, this wallet supports only ERC-20 and ERC-271 tokens, but the developers promise to add support for new types of digital coins in the near future. If to follow the news, it is easy to notice how the above mentioned  event is connected with Bitmain Company`s purchase of 3% of Opera Ltd in the amount of about $50 million (Bitmain Company is the largest manufacturer of network equipment for mining).

The cryptocurrency browser Brave shows good download dynamics: more than 5 million installations over the past six months. This number can be explained by a good program to attract new users, which was launched by the Brave developers. The browser charges 25 BAT for every 2 months of use. That is, for 1 year, you can accumulate 150 BAT, and for 2 years, 300 BAT. At today’s prices, it costs approximately $25 a year, but BAT is rated as one of the most promising coins of the next bull market. According to various estimates, it will enterTOP-10 and grow by from 30 to 50 times. That means, by using this browser it is possible to get from 1,000 to 2,000 dollars in a couple of years.

11. Conclusion

The cryptocurrency market today is experiencing a downtrend. Market capitalization has decreased by almost 8 times, compared with the peak values ​​of this year. As you can see, the general news background is negative this year. But it is worth noting that along with this, the infrastructure in the industry is actively developing, and new institutional investors are coming to the market. The forecast of the cryptocurrency market is not quite clear, but major experts believe that there are still many ups and falls ahead of us.

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Cryptocurrency Rate Dynamics 2018

The cryptocurrency market is so volatile, that the changes of a rate of separate currencies may reach tens or even thousands percents during a year. The investors and especially the traders should look closely at the rate dynamics of separate coins, as well as the market itself. In this article we will run through such term as cryptocurrency rate dynamics and will take a closer look at the yearly graph of the market and at TOP-3 coins:

  • Bitcoin
  • Ethereum
  • Ripple

Content
(please, click the topic to scroll down to it)

  1. General market dynamics of the year
  2. Bitcoin dynamics
  3. Ethereum dynamics
  4. Ripple dynamics
  5. The main reasons of the cryptocurrency market volatility
  6. Expert’s opinion for 2019
  7. Conclusion

1. General market dynamics of the year

If we go back in time and take a closer look at the general capitalization of the cryptocurrency market we may notice a the great difference between cryptocurrency rates in January and December in 2018.

The beginning of 2018 shocked everybody with its maximum volume of the crypto market capitalization which almost reached 828 billion dollars. After which decreased to  330 billion dollars, which is almost 3 times lower than the historical record. Apparently, that was only the beginning, but first things first.

The first week of 2018 showed the most rapid growth for the entire history. The capitalization grew up by 200 billion dollars for a week, on the 7th January there was a historical maximum of 828,6 billion dollars.

Source: https://coinmarketcap.com/

Such high growth was caused by the altcoins’ rapid growth, after what Bitcoin showed its maximum on the 17th of December and then began to fall. For the next three days (till the 10th of December ) the market awfully decreased and reached the mark of 672,6 million dollars . During the period from 10th till 13th January the capitalization grew up to 744 billion dollars.

But after that, a prolonged correction started, which unfortunately continues up to date.

The 31st of January 2018 the capitalization decreased to 515 billion dollars.

In the first week of February the mark showed a rapid decrease and on the 6th of February the capitalization decreased to 283,6 billion dollars.

This event was followed by a two week period, which made many investors believe that the correction was over and on the 20th of February the capitalization was almost 510 billion dollars. The spring was followed by bad news:

– ban of cryptocurrency advertisement in Google and Facebook

– ban of ICO in China

That was the beginning of the second loop of correction which lasted till the 11th of April 2018 at that day the capitalization was 266 billion dollars.

On the 12th of April the market started to go up. As many experts thinks that the main reason was the filing tax returns in USA. This tendency remains marked till the 5th of May 2018 at that day the capitalization was 464,7 billion dollars.   

The summer was a relatively calm period for cryptocurrency. In the first two months the capitalization was between 200-300 billion dollars, but on the 14th of August it fell to 194 billion dollars.

Source: https://coinmarketcap.com/

However, the fall of 2018 became the point of return for the whole market. The capitalization fell from 228 billion dollars to 138 billion dollars for three months. If in September the rate was more or less stable, then the November has been marked by a loud fall. From the 14th of November the market began to crash and on the 16th of November the capitalization was 102 billion dollars.

2. Bitcoin dynamics

The first cryptocurrency started 2018 with the rate of 14 thousand dollars and the total capitalization of 235 billion dollars

After that the winter rate raised twice:

  • on the 3rd of January $15 331 (the capitalization is 260 billion dollars)
  • on the 6th of January $17 010 (the capitalization is 285 billion dollars)
Source: https://coinmarketcap.com/

This year it was the highest rate which was followed by a prolonged correction, which is still going on.

Till the end of January the coin decreased to $10 255 with the total capitalization of 172,6 billion dollars. Till that moment the vast majority of investors fixed the income at least partially (those who bought at the end of November or December, fixed the loss). Many experts expected the nearly 50% correction to be the maximum and waited for reborn of positive trend in the near future, but the first week of February was marked by a rapid fall of the rate till $6 226.

After that the growth started which made many participants of the market believed in a trend reversal. Looking at the chart until the 5th of  March 2018 we might think that the correction was over since the rate of the coin raised by almost 2 times and amounted $11 452 with the capitalization of $193,5 billion. On the 18th of March the rate was $7 633 (the capitalization $129 billion.).

After that the rate remained in stagnation and from time to time it went up to the $8 500 and falls till $5 900. The minimum rate of the summer 2018 was fixed on the 29th of June and was $5 914.

The period from mid September till mid November was stable and was marked by neither ups nor downs. However, since the 14th of November the total collapse of the market started which affected the capitalization of the first cryptocurrency. On the 17th of December the well-known Bitcoin set a negative record of 2018. The amount of its capitalization was $57 billion. In the outcome, the rate difference of the beginning of 2018 was bigger by 4 times than the end rate of the year and the difference between the max. and the min. rate value equaled 5.

Source: https://coinmarketcap.com/

3. Ethereum dynamics

After the New Year, the price of Ethereum reached dramatic heights. The historical maximum was fixed on the 13th of January with the rate of $1 371.

Source: https://coinmarketcap.com/

Until the 6th of February the rate fell to $719. After that there was a period of growth and the coin reached the $1000 mark. On the 17th of February the rate of ETH was close to $973.

It was followed  by a two month period of contraction, which stopped on the 6th of April on the mark of $367. The ethereum chart for the whole month was positive, on the 5th of May 2018 the coin rate was $820.

But after that the chart went down and on the 15th of August 2018 the ETH rate was $284.

Many people have decided that Ethereum couldn’t go lower. However they were mistaken. Since the 7th of December fixed not only a yearly negative record but a historical one. The capitalization of digital currency was equal to $9 billion and a coin was traded for $87,53 or 0,025 BTC.

Source: https://coinmarketcap.com/

The end of the year was not that successful for Ethereum. The difference between the rate of the beginning of 2018 is almost 6 times more than the final rate of the year and the difference between the max. and min. rate is 11.

4. Ripple dynamics

On the 4th January 2018 the historical maximum was fixed on the $3,81 mark.

Source: https://coinmarketcap.com/

After that the rapid rate correction followed, since many investors wanted to fix their huge profits.

On the 6th of February the coin rate was $0,67. After that the rate of Ripple in 2018 crossed the mark of $1 for a few days. Thus on 17th of February the rate grew to $1,22. Furthermore the downward trend followed, which lasted till the 10th of April when the rate fell to the mark of 48 cents.

Then the rate of the coin (as well as with the rest of the market) was growing for the whole month and on the 5th of May it reached the $0,91 mark.

The rate of Ripple for the whole summer was slowly decreasing and only on the 20th of September began to grow rapidly and on the 22nd of September the price per one coin was $0,59.

The collapse of the cryptocurrency market didn’t hurt much the rate of Ripple unlike the other cryptocurrencies. In contrast, Ripple during not the best period for the market won the second place by total capitalization. And apparently will finish this year taking the second position without giving way to Ethereum.

5. The main reasons of the cryptocurrency market volatility

As you may see, the rate dynamics of 2018 is negative. There are many reasons for volatility of the crypto market, but the major are few:

  • the lack of government regulation;
  • the instability and small capitalization (in compare to traditional financial markets);
  • the lack of binding to the physical goods, which has material value;
  • the lack of the real market value;
  • the human factor (a large number of non-professional investors who by their actions discredit the situation on the market).

6. Expert’s opinion for the 2019

It is actually difficult to predict in the industry of cryptocurrency. We will tell the experts opinion on the rate dynamics in 2019-2020.John – – McAfee believes that Bitcoin will become a new financial standard and everyone should accept that. His forecast about the rate of Bitcoin is the most bravest above all, McAfee believes that 1 BTC till the December of 2020 will cost more than $1 million.

– The Fundstrat analytics team believes that the rate of Bitcoin in 2019 will be equal to $25 thousand.

– Mike Novogratz, CEO of Galaxy Digital, believes that the start of Bakkt and Fidelity Digital Assets platforms will affect the entry of new investors into the cryptocurrency market. According to Mike`s opinion, now the most important point of resistance is the mark of $ 3,880. If we overcome it, then the rate may reach $ 9,000 till the New Year.

7. Conclusion

The rate cryptocurrency dynamics is so changing, the industry is still young and volatile. The last 12 months were filled with a lot of events: the historical maximum was recorded, almost 80% throwback, the ban of advertisement,the regulators, for the first time cryptocurrencies become an agenda at G20. A number of respected experts predicts the great future for the industry and an early resumption of bull trend on the market. So we’ll see and we will provide you only with verified news and with useful information from the crypto world.

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The UN Will Use Blockchain to Develop Healthcare in Africa

The United Nations division, the Office on Drugs and Crime is going to cooperate with the blockchain company doc.com in order to provide free and accessible healthcare and medical services in the Eastern regions of Africa.

Doc.com is a company that specializes In telemedicine and telepsychology. It uses blockchain to let the customers exchange their personal data for tokens, which will open access to various healthcare services.

The company is functioning in over 20 countries with around 130 thousand customers. The United Nations has been researching the ways to use blockchain for humanitarian causes, thus, this collaboration might become the salvation for poor African countries.

We remind you:

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

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