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Indonesia is opening a crypto bourse

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Indonesia is planning to launch a crypto bourse by the end of this year

 
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The Indonesian Government is seeking to protect consumers amid rising interest in digital currencies.

The nation will launch a cryptocurrency bourse by the end of this year.

“We need to see which entities should be included in the bourse. Secondly, we need to validate the said entities. Thirdly, there is a minimum capital and other requirements related to custodian, depository, technical things,” Deputy Trade Minister Jerry Sambuaga said.

A bourse is a stock exchange in non-English speaking countries.

The Indonesian exchange was set to launch in 2021 but was postponed because of technical logistics.

Some executives in the sector are on board with the idea, believing it can add to the number of people taking part in the space.

There were $57.6 billion crypto transactions in Indonesia last year, with the number of users reaching 15.1 million as of June this year.

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Crypto

Crypto heists in 2022 totalled $3.8 billion

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Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea

A Chainalysis report found hacking activity that “ebbed and flowed” throughout the year, with “huge spikes” in March and October.

October was the biggest single month ever for cryptocurrency hacking, with $775.7 million stolen in 32 separate attacks.

North Korea-linked hackers such as those in the cybercriminal syndicate Lazarus Group have been by far the most prolific cryptocurrency hackers, stealing an estimated $1.7 billion worth of in multiple attacks last year.

North Korea has denied allegations of hacking or other cyberattacks.

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Crypto

Sam Bankman-Fried banned from communication with FTX

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A U.S. judge has banned former FTX founder Sam Bankman-Fried from contacting current and former employees

Federal prosecutors asked for this ruling, as they believe Bankman-Fried may tamper with witnesses or destroy evidence in his criminal fraud case.

It was revealed the 30-year-old tried to send a message to someone known as ‘Witness 1″ a few weeks ago, proposing to have a constructive conversation with them.

Bankman-Fried was arrested in December on charges of looting billions of dollars of FTX customer funds, and lying to investors and lenders.

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Crypto

Celsius Network propped up token with investor money

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It’s been revealed crypto lender Celsius used investor money and customer deposits to prop up its own token and inflate its balance sheet

 
Celsius gathered crypto deposits from retail customers and invested them in the wholesale crypto market.

It raised some of the initial capital to fund its business by creating and then selling its own crypto token.

Celsius filed for bankruptcy in July last year, after freezing customer withdrawals from its platform.

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