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Israel

Israeli Startup That Allows Offline Crypto Transactions Secures $4M

Israeli cybersecurity startup GK8 has reportedly developed the world’s first offline system for transacting cryptocurrencies. The new system uses GK8’s proprietary cryptographic techniques that enable instant blockchain transactions of digital assets without any need for an internet connection, Israeli business news publication Globes reports Sept. 18. The company raised $4 million in a funding round …

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French Police Shut Down 850,000 Computer Botnet Used for Cryptojacking

French police have shut down a massive botnet that has been used for Monero (XRM) cryptojacking.  Cryptojacking backed by “massive firepower” BBC News reported the development on Aug. 27. According to the police, the botnet was distributed by sending virus-laden emails with offers for erotic pictures or fast cash, and further propogated through infected USB …

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Facebook Isn’t Behind the First Incubator for Libra Crypto Developers

The Takeaway: An Israeli startup called Libracamp is funding development on Facebook’s Libra testnet. More than 80 projects have applied for the five spots in Libracamp’s initial virtual bootcamp, which starts in November. Even though Facebook admitted in a recent SEC filing that regulatory pushback may prevent Libra from launching, Libracamp remains undaunted. The Libracamp …

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Two Israeli Brothers Arrested for Phishing Fraud, Bitfinex Hack

The Israeli Police cyber unit arrested two brothers, Eli and Assaf Gigi, for allegedly perpetrating a multi-year phishing scheme and participating in a 2016 hack of Bitfinex. Israeli news outlet Ynet reports the two allegedly stole over $100 million in cryptocurrency. The infamous Bitfinex theft of 119,756 BTC shocked the crypto market with the largest loss …

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Israeli Supreme Court Rules in Favor of Cryptocurrency Exchange in Bank Dispute

The Supreme Court of Israel has declared that Leumi Bank cannot block the cryptocurrency exchange Bits of Gold’s account on the grounds of regulatory concerns, according to a report by Finance Magnates on June 3. Despite the Supreme Court’s ruling against Leumi, the bank reportedly maintains its stance against dealing with the exchange. The report …

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Israeli Supreme Court Stops Bank From Closing Crypto Exchange’s Account

</header> <strong>In February 2018, the Supreme Court of Israel issued a temporary injunction order forbidding a major bank in the country from halting the activity of a local cryptocurrency exchange. Now the bank has been forced to accept that the company’s account will remain open indefinitely.</strong> Also Read: Community Funding and Bringing Smart Contracts to …

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Israeli Court Rules Bitcoin Is an Asset

<header class=”article__header”> </header> <strong>An Israeli court has ruled that bitcoin is an asset, confirming the central bank’s stance. The case involves the country’s tax authority and the founder of a blockchain startup who argues that profits from the sale of cryptocurrency should be tax-free. The court has ruled in favor of the tax authority, endorsing …

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US District Attorney Seeks to Retain Defendant in Crypto Shadow Banking Case

The United States Attorney for the District of Arizona (DA) is seeking to retain a defendant in custody in a case of alleged shadow banking for cryptocurrency companies. In a court filing released on May 1, the DA states that they are concerned the accused will flee. The filing follows the official announcement published by …

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Israeli University Sues Professor for Zero-Knowledge Proofs Technology

<strong>A leading Israeli university is suing one of its own senior staff members for allegedly creating a zero-knowledge proofs technology company based on the intellectual property the professor developed while working for the institution.</strong> Also Read: Will Belarus Be the First Country With Nuclear-Powered Bitcoin Mining? The Technion Wants a Piece of Starkware The Technion …

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