Chinese Scammer to Create Fake BTC Cold Wallet

Fraudster was able to still and sold $400 000 worth Bitcoins, but police busted him
02 September 2019   200

The authorities of Chinese Puyang arrested a man who attracted Bitcoin holders to use a fraudulent “cold wallet”, which he allegedly created himself, writes 8btc portal.

The detainee changed the code of existing software and promoted it on local social networks. The backdoor in the code allowed him to empty the purses of his victims. From March to July 2017, he thus appropriated about 200 bitcoins, which he sold for $ 400,000.

I was invited into the Weixin chat group of Bitcoin offline trading created by him. On July 16, 2017, he said that Bitcoin was not safe on the exchange platform and he could provide me a set of ways to store Bitcoin safely. Then he sent me a software via Wechat to ask me store Bitcoin in the wallet address generated by the software according to his order.
 

Victim

In an effort to cover the tracks, the detainee used foreign mixers to mix coins and other methods of ensuring anonymity. The defendant did not plead guilty, but the court ruled that he intervened in the information systems of the computers of his victims to obtain information stored there, which is a violation of the law in China.

Earlier in China, the effect of the multi-billion dollar crypto-pyramid PlusToken, which also acted as a digital wallet, was suppressed.

SEC Chairman to Speak About BTC Listing

It looks like Bitcoin listing on the tradional exchanges won't happen in the nearest future
20 September 2019   79

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC.

If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange ... they are sorely mistaken. We have to get to a place where we can be confident that trading is better regulated.
 

Jay Clayton

Chairman, SEC

He was talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.