Sayonara, Japan’s Cryptocurrency Market

Binance

A number of negative incidents have occurred in succession within the cryptocurrency market of Japan.

The first is that the cryptocurrency exchange Binance has ceased its developments in Japan. They withdrew from the Japanese market after a warning from the Financial Services Agency that made it sound like they were committing a crime.

They had already achieved remarkable results in the industry. It is true that by skirting certain regulations and taxes, they weren’t competing on a level playing field with other businesses. However, they were a genuine fin-tech company that was an industry leader in innovation. It is regrettable that their expansion into Japan has come to an end.

Continue reading “Sayonara, Japan’s Cryptocurrency Market”

ICO fraud, hard fork fraud, simple fraud

So many frauds

There are rampant frauds by phishing websites that disguise as exchanges. What is more, their methods are also becoming increasingly cunning, sometimes leading the victims to enter their own private keys, tricking them into thinking that they are being helped to retrieve cryptocurrencies that have been sent as a mistake. We might even start seeing things like “private key storage services” that eventually demand ransom cryptocurrencies from their users.

It goes without saying that we must be careful not to be tricked by these straightforward frauds. However, we need to be especially alert against more shrewd frauds. I will not name them here, but there are so many of them in the world of cryptocurrency.

Continue reading “ICO fraud, hard fork fraud, simple fraud”