Blue Protocol, an ECR-20 token claiming to bring “world-class security” to the unregulated cryptocurrency industry, is threatening to expose a list of shitcoins it has uncovered.

In a twitter post on Monday, the Blue Protocol team revealed that more than half of the top 50 cryptocurrencies are vulnerable to extremely destructive flaws.

"More than half of the top 50 coins are vulnerable to extremely destructive flaws. We've reached out to all of them to notify them of these issues. Unfortunately very few have listened. Tomorrow this information will be public," the post read.

The company noted that it has been conducting manual testing to confirm the issues since February. Blue said it performed ‘millions of tests per second’ to fuzz out any issues, because, they “actually care about the success of their customers’ coins”.

While the news has been making rounds on social media platforms, many are wondering if the vulnerabilities are critical enough to warrant public exposure, saying that Blue protocol might cause more harm than good by exposing the list.

Some investors have accused BLUE of spreading FUD to destroy the value of their holdings. However, BLUE goes against these accusations head-on.

"There’s no cherry coating it. We have a shitlist and half the top 50 coins are implicated. Please don’t blame us for the bear market. Blame the shitcoin your holding," the company said.

CONTINUE READING: https://news.bitzamp.com/more-than-half-the-top-50-cryptos-are-shitcoins-blue-protocol-threatens-to-expose-them/

Binance is looking to expand its user base with the launch of its first crypto-to-fiat exchange in Uganda.

Experts have reported that African countries have seen an upsurge in cryptocurrency adoption and Binance, which is on an expansion spree, seeks to draw these users to its new exchange in the East African country.

The company has announced that it has officially opened registration for Binance Uganda and opening of trading will be announced at a later date.

Binance also announced a reward of 0.5 BNB for the first 20,000 users to register on the new exchange.

“The total rewards for this promotion are strictly limited to 10,000 BNB, and will be distributed on a first come first served basis,” the announcement read, adding that users will also be provided with a month of Zero trading fees once trading begins on the new exchange.

Read More: https://news.bitzamp.com/binance-expands-to-africa-launches-first-fiat-crypto-exchange-in-uganda/

Popular US rapper The Game has been slapped with a lawsuit for promoting a Cannabis-focused crypto company called ParagonCoins. The Blast has reportedly obtained court documents related to the case, which mentions “unspecified damages” that could likely be worth several million dollars.

The plaintiffs moved to court in January for a class action lawsuit against ParagonCoins, but an amended complaint was filed on June 22. The lawsuit claims that the company fraudulently advertised as a revolutionary business claiming to change the weed industry altogether.

According to its website, ParagonCoin claims that it creates a “path towards legalization of cannabis and a way to solve nearly every issue facing the cannabis industry.” The company had also claimed to “Track every stage of cannabis cultivation, from the purchasing of seeds all the way down the line to the dispensary selling the final product to consumers.”

However, the cannabis-crypto company never fulfilled any of the promises, but instead, allegedly used investor’s funds to purchase real estates.

The plaintiffs added The Game as a defendant in the case as he allegedly used his influence and fame to promote the fraudulent ICO.  The lawsuit considers both the defendant parties’ actions as violations of the law and placed an injunction on both, an order for the recession of the plaintiffs’ investments and accounting of all funds that entered the company.

The rapper, who just lost a $20 million sexual assault suit against Viacom this month, faces more legal trouble as he is listed as a member of the advisory board of Paragon. If that is indeed the case, he can be held partially responsible for this defrauding of investors.

Read More: https://news.bitzamp.com/american-rapper-the-game-hits-with-multi-million-lawsuit-over-involvement-in-fraudulent-ico/

Popular adult entertainment website Pornhub is expanding its cryptocurrency payment system to include Tron (TRX) and Zencash (ZEN), Variety reported on Wednesday.

Tron, which made headlines recently following its acquisition of popular P2P program BitTorrent for $188 million, currently sits among the top 11 cryptocurrencies by market cap. Tron founder Justin Sun is yet to comment on the recent development.

Pornhub also indicated plans to add ZenCash, another privacy-centric cryptocurrency to its lineup. Following the news, ZenCash has seen a little of over 1% while major coins continue to plunge. ZEN/USD pair is currently at the $16.60 levels as at press time.

In April, Pornhub announced a partnership with Verge to accept the XVG coin for payments. XVG is also an anonymous cryptocurrency that obscures individual IP addresses and locations of its users. Pornhub’s Vice President Corey Price noted that “cryptocurrencies are especially viable in the adult entertainment industry because they are privacy-centric and incorporate more anonymity tools than traditional tender.”

Read More: https://news.bitzamp.com/pornhub-adds-tron-trx-and-zencash-zen-to-payment-system/

Major cryptocurrency exchange Huobi Pro has announced that it will no longer offer trading services to customers from Japan starting next month.

The exchange announced the news in an email sent to investors in Japan on Wednesday, stating it will remove the Japanese option from its homepage and suspends trading services from July 2.

Speaking on the sidelines of the 2018 Blockchain Expo in Amsterdam, Huobi’s chief strategist Charlie Tsai told Chepicap that Japanese traders can't use the platform from July due to ‘regulations of the local authorities’.

Read More: https://news.bitzamp.com/crypto-exchange-huobi-ceases-trading-in-japan/

Binance coin, the native currency of major cryptocurrency exchange Binance, has risen in value with the growth of the exchange. BNB is currently ranking as the 15th most valuable cryptocurrency by market cap.

As BNB continues to grow in popularity, other crypto exchanges may be looking to lure holders to their platform by adding BNB pairs to their trading platforms.

Just yesterday, Lbank announced support for the BNB/USDT pair. According to CoinGecko.com, as many as 9 exchanges, other than Binance itself, are currently offering BNB for trade, and the coin is being actively traded on five of them: Exrates, Gate.io, Bancor Network, Braziliex and more recently, Lbank.

Read More: https://news.bitzamp.com/several-crypto-exchanges-trying-to-lure-binance-users-by-adding-bnb-pairs/

Cryptocurrency mining companies will not need a license to operate, the Ukrainian state agency responsible for licensing regimes said this week.

In response to an inquiry filed by the Better Regulation Delivery Office organization (BRDO), the State Service of Special Communication and Information Protection said digital currencies could be mined in Ukraine without a license, adding that it is not planning to introduce such an obligation soon.

Read More: https://news.bitzamp.com/ukraine-will-not-introduce-crypto-mining-licensing-anytime-soon/

The US government might be looking to follow their Japanese counterparts in tackling the use of privacy coins for making transactions within the country.

In his testimony to the financial services subcommittee on Terrorism and Illicit Finance this week, Robert Novy, the deputy assistant of the US Secret Services Office of Investigations implored the Congress to introduce tougher regulations in order to prevent criminal use of Privacy cryptocurrencies.

He elaborated on concerns surrounding the use of cryptocurrencies within criminal organizations citing cases of fraud and money laundering:

“The growing illicit use of digital currencies risks undermining the effectiveness of existing U.S. laws and regulations, especially those intended to limit the ability of criminals to profit from their illicit activities … One of the greatest emerging threats to U.S. national security is the illicit use of virtual or cryptocurrencies.”

Read More On "US Secret Service: Privacy coins poses as threats to national security": https://news.bitzamp.com/us-secret-service-privacy-coins-poses-as-threats-to-national-security/