Binance Launches Billion Dollar Bet on Bitcoin and Crypto, XRP Whale Surfaces, and Alleged IOTA Scammer Arrested – Crypto Update
Binance
The leading crypto exchange Binance just launched a new over-the-counter (OTC) trading service for institutional investors, supporting more than 80 cryptocurrencies.
OTC trades typically pair two parties that want to trade a large number of a given asset at a pre-arranged price. The trades are often executed behind the curtain, outside of an exchange’s open order book, to avoid a big impact on the market price.
The OTC space is already a billion dollar market. Goldman Sachs-backed Circle says its OTC crypto business reached $24 billion in trading volume last year.
XRP
A huge crypto whale has surfaced, moving more than 187 million XRP worth $59.2 million.
The crypto was transferred from the crypto exchange Poloniex to an unknown wallet on Monday, at a transaction cost of about 4 cents.
🚨 🚨 🚨 🚨 🚨 187,421,433 #XRP (59,247,096 USD) transferred from #Poloniex to Unknown wallet
— Whale Alert (@whale_alert) January 22, 2019
IOTA
Europol, German, and British authorities say they’ve arrested a British man who stole more than $11 million worth of IOTA.
The suspect is accused of launching a website that claimed to create secret, randomly generated passwords for IOTA users. However, the passwords were actually stored on the server and used to steal funds.
“Several victims created the seed on this website in good faith, however the seeds were stored in the background by the service provider. Later the criminal used these to gain access to the victims’ wallets and transferred their money to other wallets created with fake IDs.”
Europol says the scam began back in January of last year, and so far 85 victims have come forward.
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