Zebpay to Stop Fiat Withdrawal

Local crypto community hopes that issues will be solved ASAP
04 July 2018   296

Leading bitcoin-exchange of India Zebpay announced the stop of deposits and the possibility of withdrawing funds in Indian rupee (INR) due to the ban of the country's central bank to provide banking services to crypto-cash companies.

On April 5, the Central Bank of India banned all financial institutions of the country, including banks, to provide services to companies whose activities are related to crypto-currencies. RBI has given banks three months to fulfill this order.

Despite several attempts to challenge the innovation in court, the Supreme Court of India left the ban in force.

Last month, Zebpay urged users to actively file requests for withdrawal of funds in fiat money, warning that withdrawing the fiat deposits could become "impossible."

Meanwhile, local crypto-enthusiasts, investors and industry representatives still hope that rules will soon be adopted that will legalize this sector.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.