The 9th most popular website in the world, Pornhub, now accept Bitcoin and Litecoin for buying x-premium content. Pornhub is owned by MindGeek, which also owns the popular RedTube and YouPorn sites, as well as Brazzers production company.
Police were said to have robbed the largest crypto exchange in South Korea and the fifth largest in the world, Bithumb. The raid was probably linked to a ticket sale and a failure of corporate acquisition by a Singaporean company. The chairman of the exchange is accused of fraud and unlawful transfer of money. Some have blamed the falling crypto prices this week on the raid. Late last month, another large exchange in South Korea, Coinbit, was seized by police for laundry trading charges.
Kazakhstan’s Digital Development minister announced that the country is about to confirm $ 714 million worth of investment funding in a major new mining facility. Thirteen mining farms are already operating in Central Asia. The country claims to account for 6% of crypto mining worldwide.
We reported months ago on malicious Electrum servers sending messages to users urging malicious wallet downloads. Electrum then patched the issue and considered the issue to be over. However, last week a user reported that he had launched his old-2017 Electrum wallet, got the message and followed it, then lost 1,400 BTC. The moral is to always update your wallet software.
Before we close, this week’s “Bitcoin quick question” is how to keep my bitcoin transactions private?
Maintaining privacy is not an easy task when it comes to Bitcoin transactions, as the accounting ledger is completely transparent.
There are several layers of privacy. The first and easiest one is to make sure you use a hierarchical deterministic wallet like the popular hardware wallets, Ledger and Trezor. These types of wallets change the direction of your wallet once you receive transactions, making it harder to track your transactions.
Another layer would be to use CoinJoin services or privacy-focused wallets like Wasabi or Samourai.
The most advanced layer would be to run your own full node, which involves downloading and syncing the Bitcoin blockchain, while also relying on the TOR privacy network.
If you want to know more about using Bitcoin anonymously, visit the link in the description below.
Do you have a question you want us to answer? Leave it in the comments section below.
And a huge thank you to eToro for supporting us in putting this video together. If you want to trade cryptocurrencies, consider joining the millions who already use the unique features that eToro offers, such as CopyTrader, which allows you to automatically replicate the movements of the best performing traders on the platform. For more information, visit etoro.com.
That’s what happened this week in Bitcoin. See you next week.