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Anthony Pompliano Responds to SWIFT: Bitcoin Network Is Ten Times Bigger

  • Yuri Molchan
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    The famous Bitcoin proponent Anthony Pompliano responds to the recent statement of SWIFT that calls crypto ‘useless and unstable yoyo’

Anthony Pompliano Responds to SWIFT: Bitcoin Network Is Ten Times Bigger

Recently, it was reported that the global payment system Swift plans to create a proof of concept for almost instant payments in Europe. Previously, it had launched a system where payments took less than a minute to arrive between Australia and Singapore.

Swift promises to share the details on September 23, at the Sibos 2019 event that starts on 23 September and finishes on 26 September.

A Swift representative touched upon cryptocurrencies by calling them ‘a yoyo’, ‘useless and unstable’.

They go down in value like a yoyo, they’re useless and unstable. And even if crypto companies do make is stable, it’s still a basket of currencies.

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The co-founder of the Morgan Creek Digital, a professional investor in both traditional market and Bitcoin, Anthony Pompliano challenges Swift to take its words back, by saying that Swift’s network is ten times smaller than Bitcoin’s and that for BTC this is just a beginning.

Previously, Pompliano also publicly called that Bitcoin has the most secure network in the world. The crypto community responded with skepticism.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency

  • Alex Dovbnya
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    Jasmine Vella-Arpaci, who was part of the major identity fraud ring, faces up to 53 charges after stealing millions of dollars

Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency
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On Sept. 17, Jasmine Vella-Arpaci, a 21-year-old woman from Australia, made her first court appearance after being accused of shipping millions of dollars with the help of crypto. The young mother has been charged with 53 counts of fraud and theft.

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"Crypto Wizard" Arrested for Taking Part in $16 Mln Cryptocurrency Scam

A multi-million identity fraud

According to the Australian Securities and Investments Commission (ASIC),.the group of criminals, whose members referred to themselves as “Team Awesome,” would purchase stolen sensitive information on the dark web to open fake bank accounts in Australia. The funds were stolen from superannuation accounts and share-trading accounts of the gang’s unsuspecting victims.

The money was then transferred money to their accomplice in Hong Kong to trade expensive jewelry before sending it back home via cryptocurrencies.

Cybersecurity threats such as data breaches and financial system attacks are a major concern for ASIC and we will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience, says ASIC deputy chair Daniel Crennan

The investigation into the major crime syndicate continues with further arrests expected.

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Crypto scams on the rise

As reported by U.Today, cryptocurrencies scams have grown by more than 200 percent in Australia in 2018 with victims losing about $6.1 mln.

In 2019, this number could be easily topped. Back in July, an elderly couple lost a whopping 900,000 to an elaborate crypto scam, thus wasting all their retirement savings.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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