Regulatory Agency of Finland warns Bitcoin investors

Finland Regulatory Agency published the statement requiring investors to pay attention on cryptocurrency they use
23 November 2017   344

They say Bitcoin and other cryptocurrencies could be highly dangerous. It is based on expectation that bought coins later may be sold at a higher price. Such exchanges are highly risky. Bitcoin and other cryptocurrency prices are extremely unstable. And some crypto-founders chases fraudulent purposes.

Evidently, the pursuit of quick profits has motivated individual citizens, who are buying bitcoin and other cryptocurrencies. The risks associated with investing in cryptocurrencies are not fully recognized, however. For this reason, the Financial Supervisory Authority is warning consumers about the risks associated with cryptocurrencies.

 

Finland Regulatory Agency

Although, while Regulatory Agency mistrusts Bitcoin, Finland, in whole, has the most positive attitude towards cryptocurrency.

In Finland there is also a central bank which openly accepts cryptocurrencies. And NASDAQ Nordic opened the trade which tracking Ethereum price.

Finland is optimistically to Bitcoin and FSA should also end up frighten citizens about cryptocurrency markets volatility.

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   57

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.