Weekly News

The Tokyo Police have detained two men for purchasing cryptocurrencies that were linked to the Coincheck exchange hack in 2018.

It was reported that the men were arrested for buying some NEM coins that were suspected to be proceeds from the hack that occurred in 2018. One of the suspects who is a doctor claimed that he knew that the coins were stolen
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The hack on Coincheck was one of the biggest exchange hacks in history, with the exchange losing about $530 million worth of NEM token. The Tokyo police are currently investigating the two suspects and believe that they have been exchanging cryptocurrencies since February.

Evaluation: Good

Source: Coindesk

2. Kraken Exchange Prepares to Invest Resources In India Crypto Market After Cryptocurrency Ban Removal

In response to the India Supreme Court judgment to remove the cryptocurrency ban last week, Kraken exchange declared plans to invest in the Indian crypto market. The leading US exchange is planning to commit resources to expand its services in India through new products and offerings.

Although Kraken failed to sufficient details regarding their plans, it was revealed that they encountered some problems after the central bank placed the ban in 2018. However, the supreme court nullified the ban last week after a series of legal wars.

Evaluation: Good

Source: CryptoPotato

3. Huobi Launches New Crypto Trading Mobile App

Huobi Group has officially launched its news crypto trading mobile app, Huobi Lite. According to an official announcement on Tuesday, Huobi Lite will allow users to trade popular cryptocurrencies on their mobile phones for free.

The application currently supports BTC, USDT, ETH, EOS, HT, XRP, BCH, and HUSD trading. Users can trade cryptocurrencies with their local currencies through various payment methods.

With Huobi Lite, users can store and track their cryptocurrencies and also get bitcoin in less than 5 minutes.

Evaluation: Good

Source: Cointelegraph

4. YouTube Bans Two Crypto Channels over Policy Breach

YouTube resumes crypto purge with contents removals and strikes warnings. Owners of reputable crypto channels The Moon and Ivan on Tech have expressed their anger after YouTube censored their channels.

The two accounts received strike notice that restricts them to from uploading videos for some time, depending on the violation committed. The Moon received a warning for one of his videos for violating the sales of goods and services policy of YouTube.

Other crypto channels have also been banned since last year for promotional content and breach of YouTube’s policy. However, the video-sharing platform has admitted that some of the bans may be as a result of algorithmic errors.

Evaluation: Bad

Source: CoinDesk

5. Bitcoin Price Crashes 17% Below $6K Amid Coronavirus Worry

Bitcoin made further losses as it’s price falls below $6,000 for the first time since 2019. This shows a 17% drop in an hour, according to the Cointelegraph Bitcoin Price index. Many analysts believe that the bottom for bitcoin lies at $6000.

As expected, altcoins follow in bitcoin path as they continue to see losses as a result of coronavirus panic over measures put up by the United States government.

Evaluation: Bad

Source: Cointelegraph