The Group of Seven (G7) countries are discussing ways to counter China’s “economic coercion” against other nations, U.S. Treasury Secretary Janet Yellen has shared. Noting that Canada, France, Germany, Italy, Japan, the U.K., and the European Union share similar concerns, she emphasized that any action by the U.S. will be “narrowly scoped and targeted at…
The police service of the Canadian city of Calgary is launching a Cryptocurrency Investigations Centre in partnership with blockchain analytics firm Chainalysis to help combat crypto crime. The center “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis described. Canada’s Cryptocurrency Investigations Centre The police service of Calgary, the largest…
56.8% of metaverse-related tweets from Vietnam were positive sentiments that support the concept. A recent analysis of more than a million tweets showed a list of countries that love and hate the metaverse, with Vietnam showing the most love for the concept and Ireland topping the opposite side of the spectrum. Crypto data website CoinKickoff…
The Reserve Bank of India (RBI) says one of the priorities for the G20 under India’s presidency is to “develop a framework for global regulation, including the possibility of prohibition, of unbacked crypto assets, stablecoins, and defi.” The Indian central bank warned that “turmoil in crypto assets market” is among “the major risks that can […]Canada’s financial watchdog is enforcing stricter requirements for crypto firms following the collapse of FTX crypto exchange last month.
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On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform.
Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users’ personal information.
On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform. However, several days of proactive measures allowed Coinsquare to resume operations gradually.
We will be re-enabling crypto deposits shortly after the maintenance window with crypto withdrawals to follow shortly after.
— Coinsquare (@Coinsquare) November 22, 2022
In a follow-up email to investors, Coinsquare admitted that their customer database with personal information was exposed during the incident, which a third party most likely accessed.
The leaked database included users’ personal information, such as names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history and account balances. Coinsquare further confirmed that no passwords were exposed, adding that:
“We note that your assets have always been, and remain, secure in cold storage and are not at risk.”
While the exchange has not detected any bad actors from accessing the breached information, the official communication cautions users to change their passwords, enable 2-Factor Authentication (2FA) and use different credentials for different platforms.
Coinsquare has not yet responded to Cointelegraph’s request for comment.
Related: Coinsquare becomes first Canadian crypto exchange to receive IIROC registration
Canadian crypto exchange Bitvo was able to back off its acquisition agreement with FTX thanks to the deal’s long approval process by local regulators.
The firm emphasized that its operations have not been affected, as Bitvo has no material exposure to FTX or any of its affiliated entities.
This week researchers from the Bank of Canada published the central bank’s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. According to the Bank of Canada’s metrics, 13% of Canadians own the leading crypto asset bitcoin, and “most Canadians are aware of bitcoin.” Bank of Canada’s Financial System Review Highlights […]
More Canadians are learning about and buying bitcoin compared to last year showed findings in a study conducted by the Bank of Canada.
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The city notice effectively stops the facility from conducting “any cryptocurrency mining or related operations” until Blockfusion is in compliance with local zoning ordinances.
The City of Niagara Falls has issued a cease-and-desist notice to New York-headquartered crypto mining firm Bit Digital over a data facility owned and operated by its partner Blockfusion.
In an Oct. 7 announcement, Bit Digital said the city notice would effectively stop the facility from conducting “any cryptocurrency mining or related operations” until Blockfusion was in compliance with local zoning ordinances. The Niagara Falls ordinance went into effect on Oct. 1 following a moratorium, requiring Blockfusion to apply for additional permits that “may take several months to process.”
According to Bit Digital, the Blockfusion facility was one of two forced to cease the operations of more than 4,800 rigs after “an explosion and subsequent fire” at a substation in Niagara Falls in May. The company reported power was restored in September. As of Oct. 6, roughly 17% of Bit Digital’s 13,980 active miners — 2,376 rigs — were at the single New York facility.
“Pursuant to the Mining Services Agreement between Bit Digital and Blockfusion dated August 25, 2021, Blockfusion represents, warrants and covenants that it ‘possesses, and will maintain, all licenses, registrations, authorizations and approvals required by any governmental agency, regulatory authority or other party necessary for it to operate its business and engage in the business relating to its provision of the Services.’” said Bit Digital. “On October 5, 2022, Bit Digital further noticed Blockfusion that it expects it to comply with directives of the Notice.”
Related: Norwegian town wants ‘noisy’ Bitcoin miner out — CEO responds
The City of Niagara Falls imposed a 180-day moratorium on Bitcoin BTC mining starting in December 2021 after many residents reportedly issued many complaints about the facilities, including excessive noise. New York state lawmakers have considered similar proposals for a state-wide moratorium on crypto mining activities. The Niagara Falls moratorium was later extended to end in September.
Cointelegraph reached out to Blockfusion, but did not receive a response at the time of publication.