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Coinbase has been hit with a flood of lawsuits after it recently disclosed its user data was breached, with users accusing the crypto exchange of mishandling the incident. At least six lawsuits were filed against Coinbase between May 15 and May 16, which all made various claims that the exchange failed to keep stringent security …
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A recent proposal that aims to change Bitcoin’s base unit to make it easier to understand as a payment tool has run into opposition, with critics saying Bitcoin’s satoshis are no more confusing than the dollar’s cents. Bitcoin developer John Carvalho introduced Bitcoin Improvement Proposal-177 on April 23, which seeks to eliminate the concept of …
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A group of Coinbase users from Illinois have filed a class-action lawsuit against the crypto exchange, alleging that its identity checks violate the state’s Biometric Information Privacy Act (BIPA). Plaintiffs Scott Bernstein, Gina Greeder and James Lonergan claimed in the May 13 lawsuit filed in a federal court that Coinbase’s “wholesale collection” of faceprints for …
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Bitcoin has notched its highest-ever weekly close as crypto market momentum continues and the cryptocurrency is again nearing its all-time high. Bitcoin (BTC) has closed at a weekly gain for the past six weeks in a row, and its most recent close at midnight UTC on May 18 was its highest weekly close ever at …
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An Australian man from the state of Queensland has forfeited Bitcoin, a waterfront mansion and a Mercedes-Benz car after Australian Federal Police claimed the assets could be linked to the proceeds of crime. The AFP-led Criminal Assets Confiscation Taskforce (CACT) said in a May 18 statement that it seized nearly 25 Bitcoin (BTC), alongside the …
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Vladimir Smerkis, a co-founder of the Telegram-based crypto project Blum, has reportedly been arrested in Moscow, Russia, on fraud allegations, amid Blum confirming he is no longer affiliated with the project. The Zamoskvoretsky District Court of Moscow approved a request from investigators to keep Smerkis in custody while he is being investigated, Russian state-owned news …
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