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Cryptocurrency exchange Coinbase fined $ 6.5 million for manipulating information on trading volumes

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The cryptocurrency market has long been a tidbit not only for ordinary users, but also for all sorts of attackers.

Moreover, sometimes even a major player in this market can be an attacker. According to sources, the well-known cryptocurrency exchange Coinbase was fined $ 6.5 million for providing false information.

More specifically, according to the Commodity Futures Trading Commission (CFTC), the exchange manipulated trading information by inflating rates to attract more customers. In particular, from 2015 to 2018, two programs were launched on Coinbase Pro (Hedger and Replicator), which periodically exchanged cryptocurrency between their wallets, thus artificially increasing the trading volume. It’s worth noting that the programs were generally designed to work independently of each other, but sometimes they matched orders against each other in certain trading pairs, resulting in trades between Coinbase-owned accounts.

At the same time, the commission suggested that the situation was more negligence than deliberate action. On the other hand, in the period from August to September 2016, one of the exchange employees deliberately used this mechanism to increase the trading volumes of Bitcoin and Litecoin. Apparently, in the end, the exchange was fined precisely for this.

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Phones

Four iQOO smartphones will receive Android 12 in December

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The iQOO brand has revealed Android 12 release dates for a number of its models. True, we are not yet talking about the final version of Android 12 – it will have to wait longer.

IQOO 7, iQOO 7 Legend, iQOO Z3 and iQOO Z5 users will receive the Android 12 beta at the end of the year – at the end of December. And at the end of March 2022, the beta version of Android 12 will be released for iQOO 3.

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Phones

Another foldable smartphone comes out in November – with 120Hz OLED screen, Snapdragon 888 and 50MP camera

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Details about the Oppo smartphone with a flexible screen appeared on the web. According to the source, the device will be released in November and will be built on a single-chip Qualcomm Snapdragon 888 platform.

The smartphone does not have a name, but the key characteristics are listed. So, the device is assigned an OLED screen with a diagonal of 8 inches with a frame rate of 120 Hz, a 32-megapixel front camera and a multi-module main camera with a main sensor with a resolution of 50 megapixels, a 4500 mAh battery with support for 65 W fast charging. The operating system is expected to be Android 11 with ColorOS 12 interface. There is no price, but it will probably be more affordable than the Samsung Galaxy Z Fold3.

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Not a trace remained of $ 66,000. Bitcoin fell, followed by Ethereum

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The week began for the main cryptocurrencies of the world with a rise in price and the establishment of new price highs, and ends with a fall, and quite noticeable. Over the course of a day, Bitcoin loses about 4.5% of its value, and as a result, for 1 BTC now they give not $ 66,000, but about $ 60,500.

After Bitcoin began to fall, Ethereum was still holding, but its rate had already gone down too, dropping below the psychological mark of $ 4,000. Analysts believe that such a fall in cryptocurrencies is due to their sell-off on the part of investors – they are fixing profits against the backdrop of a strong growth in value that has been observed since the end of September. This means that after the current correction, Bitcoin may rush to new heights, but whether altcoins will follow it is a big question.

Not a trace remained of $ 66,000.  Bitcoin fell, followed by Ethereum

Interestingly, against the background of a decrease in quotations of other cryptocurrencies from the Top 10, Solana feels very confident: it grew by almost 6% per day, and by almost 25% in a week.

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