Cryptocurrencies transformed the way we glance at transactions, but against the grain, they have also encouraged cybercriminals to lead some massive frauds over the past few years. While the cleverest minds have developed some beyond-belief organizations upheld by the might of blockchain and cryptocurrencies, wicked minds have also pounced on the furor, defrauding innocent investors in complex scams.

Do you know about the Shinil Group scam that took place last month, in which investors were tricked into investing in their cryptocurrency?

The Shinil Group Scam

The most recent attack was reported by JoongAng Daily …

Two days ago, Venezuela’s President, Nicolás Maduro, ordered the nation’s banks to adopt the Petro digital currency, so now Venezuelan banks must accept Petro.

In a bid to reform the nation and alleviate the current Venezuelan economic crisis, Maduro is trying to get the Petro coin recognized as Venezuela’s second currency and now banks within the nation must accept the coin.

The hope is that by fixing the nation’s fiat currency to the newly created Petro, financial stability will be possible.

Venezuelan Banks Must Accept Petro

Venezuela’s economic situation is dire. By …

China may be doing all it can to suppress cryptocurrencies, but South Korea is going the opposite way. Specifically, in its Gyeongsangbuk-do Province. But what’s going on? Well, according to sources, officials are partnering with blockchain startup Orbs to create a province-specific coin called the Gyeongbuk coin.

But why?

South Korea’s Gyeongbuk Coin

The province is issuing the Gyeongbuk coin to replace an already existent state loyalty scheme — the already existent “Hometown Love Gift Cards”. South Korean legislators are making this move to further integrate cryptocurrency across the nation.

100 billion …

Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic. 

Users will now be able to switch their hashing power from one pool to another, in light of whats happening in the market.

Bitmain Adds Ethereum Mining Pool

The announcement was made earlier today from BTC.com, which has earned its place as the largest Bitcoin mining pool in the world, having mined 21% of all Bitcoin blocks last year.

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