Today in crypto, RChain allegedly faced failure, Mt. Gox CEO Mark Karpelès continued to claim innocence, and Litecoin unveiled a partnership with the Ultimate Fighting Championship (UFC). A Taiwanese man is also said to have stolen millions of dollars in electricity to mine crypto, and a major Electrum wallet hack filled the internet.
Catch up on the details:
RChain Facing Troubled Waters
The once mighty RChain project appears to have derailed as evidence shows questionable business moves.
Based on a report by The Block, RChain appears to have invested the majority of its capital into developing a music app called RSong.
RChain also partnered with a venture capital fund called Pithia, utilizing even more capital, only to ultimately lose the partnership.
RChain published a rebuttal post regarding The Block’s article, claiming the site reported false information.
Mt. Gox CEO Claims Innocence, But How Will The Courts Rule?
Even after many years, the infamous Mt. Gox exchange fiasco is still a relevant topic of conversation.
Former Mt. Gox CEO Mark Karpelès has also not reportedly changed his plea of innocence in his ongoing two-and-a-half year trial. Karpelès faces charges of market manipulation and embezzlement.
Authorities slated March of 2019 as the trial’s scheduled end date.
Litecoin Takes To The UFC Octagon In New Sponsorship Deal
According to a CoinDesk report today, the Litecoin Foundation has confirmed partnership with the Ultimate Fighting Championship (UFC).
The UFC has an anticipated upcoming rematch between Jon Jones and Alexander Gustafsson on December 29, in which the Litecoin logo will be advertised.
Taiwan: Suspect Arrested For Stealing $3+ Mln Of Electricity To Mine Crypto
A Taiwanese suspect named Yang was recently taken into custody for allegedly mining Bitcoin and Ethereum, using $3 million of swindled electrical power.
Stadedly, Yang successfully mined about $14.5 million worth of crypto assets with said stolen electricity.
“Yang is purported to have used a minimum of 17 various business premises to open toy shops or internet cafes there as a facade for his alleged crypto mining activities,” CoinTelegraph reported today based on news from EBC Dongsen.
Phishing Attack On Electrum Wallet Nets Hacker Almost $1 Million In Hours: Report
Hackers have stolen almost 250 bitcoin, the result of a hack on Electrum crypto wallets.
According to a GitHub post from Electrum, the attack is ongoing and includes luring wallet users into downloading and installing malware disguised as a wallet update.
Earlier today, a Reddit post warning about the attack stated, “[i]f someone’s Electrum Wallet connected to one of those servers, and tried to send a BTC transaction, they would see an official-looking message telling them to update their Electrum Wallet, along with a scam URL.”
The scam also includes a request for two-factor authentication when logging into the pseudo-electrum wallet. The true Electrum wallet only requires two-factor authentication for sending assets, not logging in.