#CryptoCorner: Russian Social Media Giant VK to Launch Crypto, Bithumb Hacked for $13 Million in EOS

#CryptoCorner:  Russian Social Media Giant VK to Launch Crypto, Bithumb Hacked for $13 Million in EOS

Point Roberts WA, Delta BC,  April 1, 2019 -  Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s  (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and  the Genesis Exchange and Wallet  App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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As we begin a new week and month, the crypto market is looking green with total market capitalization sitting at about $146 billion USD at press time, according to data from CoinMarketCap. As usual Bitcoin (BTC) leads with a trading price of $4150, and is followed by Ether (ETH), XRP, EOS and Litecoin (LTC), which are trading for $142, $0.31, $4.20 and $60.85, respectively.

Russian social media giant VKontakte (VK) is working on the creation of its own cryptocurrency, according to a report from local outlet RNS. An unnamed source told the publication that VK is designing the crypto as a means of paying users for content generated on the site and paying for various products and services available on the network. This development follows the launch of the site’s VK Pay payment system in June last year, which allows users to pay for services on VK and its partner sites. According to the report on RNS, VK has 97 million active monthly users.

CoinDesk reports that South Korean crypto exchange giant Bithumb was hacked for $13 million worth of cryptocurrency EOS on Friday, March 29. The company reported an “abnormal withdrawal” and indicated their suspicion that the hack was done by an insider and that “no evidence of external exploit has been found. The latest update on the story indicates that Bithumb may also have been hacked for $6.2 million worth of XRP, though the company has yet to comment on the validity of this claim.

Pakistan’s federal government is introducing regulations for cryptocurrency today, according to local English-language outlet The Express Tribune. Sources from the country’s Financial Action Task Force (FATF) explained the regulations:

“These regulations will help combating money laundering and terrorism financing while it will also help regulation of digital currency throughout the country.”

Cointelegraph reports that Japanese crypto exchange Coincheck has launched a Bitcoin over-the-counter (OTC) trading desk for large-scale institutional clients. Clients will be able to trade large volumes of the flagship cryptocurrency on a web interface hosted by Coincheck, starting at 50 BTC ($207,000 USD). The exchange will reportedly consider adding support for other cryptocurrencies in the future.

Sam Mowers, Investorideas

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