1. HTC Allows for Crypto Mining on its Exodus 1S Blockchain Phone
HTC, the tech giant is working on a plan that’ll enable users to mine cryptocurrency on its Exodus Blockchain phone. As a result of its partnership with Mida Labs, the tech giant will be able to integrate the DeMiner crypto mining app into the Exodus 1S phone that was launched in October 2019.
Users will be able to mine an average of $0.0038 worth of Monero (XMR) every day. Although it is going to take about 37 years to make just one XMR at its current price of $52, the aim of creating the Exodus 1S phone is to further bring decentralization to cryptocurrency mining.
The DeMiner crypto mining app is set for launch in the second quarter of 2020. The miner is said to have similar hash power as desktop computers but consumes much lower energy.
Evaluation: Good
Source: CoinDesk
2. Huobi Launches New Software to Monitor and Freeze Suspicious Accounts
Crypto exchange, Huobi has launched a new software named Star Atlas to observe and automatically suspend suspicious accounts. The suspended account will then be reviewed by a compliance officer.
This tool is aimed at analyzing irregularities in transactions and illicit activities in real-time. Huobi already has a list of blacklisted wallet addresses which the software will use as its reference.
According to a crypto laundering report by Chainalysis, of the $2.8 billion crypto scam that occurred in 2019, crypto exchange Huobi was used as the off-ramp for about 25% of those transactions. Binance topped that list.
The launch of the Star Atlas is a form of preparation by Huobi to re-enter the United States market with an undisclosed regulated partner.
Evaluation: Good
Source: Coindesk
3. Crypto Ransomware, Sodinokibi now Uses Monero to Hide Money Trail
The ransomware, Sodinokibi has begun accepting payment in Monero and no longer Bitcoin. This malware which encrypts the data of users and then makes the users pay a certain amount as ransom before restoring access made this switch just to give better protection to the hackers.
It was reported that the hackers who created the ransomware posted about the switch on a hacker and malware forum. In the post, the hackers stated that the switch was intended to make it difficult for the authorities to track the money.
Evaluation: Bad
Source: Cointelegraph
4. Western Union Continues to Test Ripple for Cross-Border Payments
The international money transfer giant, Western Union is exploring the possibilities of reducing the cost and increasing the speed of international transfers with the use of Blockchain technology.
They have continued to test the potential use of Ripple (XRP) for international payments even after discovering that the use of crypto was five times costlier than the current system
during the early trials in 2019.
One would expect the company to stop its tests after the trials, however, Molly Shea, the general manager of the Asia Pacific Western Union said that the company is simply tactically positioning itself for the use of crypto if it eventually becomes the future of cross-border payments.
Evaluation: Good
Source: Dailyhodl
5. Crypto Exchanges in Russia sees over 5% Increase in Traffic Amid Coronavirus Pandemic
People all around the world are beginning to turn to cryptocurrency due to the unending COVID-19 pandemic and the fast-rising rate of unemployment. Apparently, Russia is not being exempted as crypto exchanges in the country are seeing over 5% surge in traffic.
The surge began some weeks ago when Russia had its first ‘paid non-working week’. This measure was taken by the government to ensure people stay home in order to curb the spread of the coronavirus. The ‘paid no-working week’ which was scheduled to end on the 5th of April has now been extended until the 30th of April.
Evaluation: Good
Source: Cointelegraph
