The United States Justice Department has seized bitcoin worth $3.6 billion that was taken in a theft that occurred in 2016

At least two persons have been detained in connection with the seizure of about $3.6 billion in digital currency, according to authorities. A total of two people were taken into custody in Manhattan early Tuesday morning: Heather Morgan, 31, and Ilya Lichtenstein, 34. According to Justice Department officials, this was the greatest money seizure operation in the department's history. According to the Justice Department, Bitcoin was valued at $3.6 billion at the time of the seizure, which took place last week, according to the department. Authorities claim that their investigation was facilitated by the fact that the public has access to the immutable ledger used to record bitcoin transaction records. Bitfinex, a Hong Kong-based exchange, was hacked in 2016, resulting in a significant drop in the value of bitcoin.

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White Hat hacker was offered a $500,000 reward from Poly Network

Following a breach that resulted in the loss of $610 million by cryptocurrency exchange Poly Network earlier this week, the company announced a $500,000 "bug reward" to whoever was responsible. With an emphasis on enabling users to move or exchange tokens across various blockchains, Poly Network is a decentralized finance (Defi) platform that enables peer-to-peer transactions intending to facilitate peer-to-peer transactions. He had "helped us improve Poly Network's security," the company said. A "white hat" hacker tries to disclose cyber vulnerabilities. "Mr. White Hat" was also to get a $500,000 reward as part of the digital money repatriation talks. It said that the hacker had replied to the offer, but did not specify whether or not the offer had been accepted. However, it has been reported that the hacker has returned $340 million in money and has transferred the bulk of what is left to a digital wallet owned by them and Poly Network, acc

Why Energy Concerns Around Blockchain May Be a Misconception

Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.

Industry Milestones and Regulatory Updates for Cryptocurrency in 2021 and Beyond

The Cryptocurrency Industry's Most Recent Developments, the crypto economy has reached key milestones in the last six months, propelling the digital asset's record ascent, and the market is projected to maintain pace even when rallies finish. Despite the fact that we are only halfway through the year, there have been a lot of notable advancements in the realm of cryptocurrencies. Venmo started on April 20, 2021, that it will add cryptocurrency compatibility to its platform, following a lengthy number of organizations that have recently begun to recognize and accept virtual currencies. Square Inc., Fidelity, and Coinbase are launching The Crypto Council for Innovation, which will serve as the industry's voice and "convey cryptocurrencies' benefits," as revealed in the first week of April 2021. Goldman Sachs announced the availability of Bitcoin funds to its rich clients the same week, accelerating institutional adoption of the virtual currency. Through a new Di

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