Your Crypto Monday Report – 11th June 2018

It’s Monday, Monday, got to get down on Monday. Everybody’s lookin’ forward to the Monday Funday. You see what I did there? Put a twist on everyone’s favourite end of the week song. Because when you have a Crypto Monday Report from Embily, it’s always a Monday Funday.

Bitcoin. What’s up, man. You know. Up. Not down. Just as things were beginning to look good, hackers just had to go and muck things up again. Speaking about that, why don’t we jump right into the report.


Friday 8th

Okay, so the hack didn’t happen until Saturday but I’m putting this on Friday because I think it’s the most prominent piece of news that’s happened over the weekend in the crypto world.  The exchange in question was: Coinrail, A small South Korean exchange.
Bitcoin swoons 10% after news of South Korea crypto exchange hack, leading a broad cryptocurrency selloff

Though not everyone believes that the prices went down due to the hack, such as Joseph Young who tweeted that it’s due to ‘Because people sold and not enough people were willing to buy.’ Whatever the case was, this has apparently started an investigation by US regulators into potential price manipulation at four major cryptocurrency exchanges.
WSJ: CME and BTC Exchange Dispute Led US Regulators to Open Price Manipulation Probe

Just from those two alone, you can see that the cryptoworld had a busy weekend.


Saturday 9th

Erotic Webcam performers, aka Camgirls and Camboys, have been around on the internet for a long time now. But there have been some issues in the USA, where an increasing number of banks are refusing to accept direct deposits from adult industry companies. Forcing the workers to turn to cryptocurrency! Hurray crypto!
Sex Workers Are Using Crypto to Save for Retirement


Sunday 10th

If you’re based in Russia and were planning on bringing in some mining rigs from outside the country. Then, unfortunately, you may run into some issues. A Russian crypto miner ran into some issues with the customs office when he had his imported in. Even though it was for personal use. After there was an appeal, the Russian courts have decided to side with the customs office and have now barred the import of crypto mining equipment.
Russian Court and Customs Prevent Import of Crypto Mining Equipment


Don’t forget to check out the latest article by Justin, all about:
Crypto Heist History: Parity Wallet


Cover illustration artist BBilly, DeviantArt

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Loy Heaton

Loy worked in Digital Marketing when he discovered and began playing around with Bitcoin. Just two months after his first Bitcoin purchase, he found himself working with Embily and has been a Cryptocurrency evangelist ever since.

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