TORONTO — Newton announced today the introduction of 3 new stablecoin pairs to its cryptocurrency trading platform: USDT/USDC, XMR/USDC and BTC/USDC. Stable-coins are pegged to the value of fiat currency, such as USD or CAD, making them less subject to price swings typically seen in cryptocurrency markets.
Newton is the leading Canadian supporter of stablecoin projects, including Stable-corp’s QCAD, which launched in February, as well as USDT and USDC, two popular USD-backed stablecoins with billions of dollars in daily trading volume.
“With the introduction of 3 new stablecoin pairs – and many more to come – we’re making a big push into what we see as the future of fintech,” said Dustin Walper, CEO of Newton. “Stablecoin trading pairs allow customers to seamlessly exchange, for example, CAD for USD without waiting hours or days for funds to move from bank to bank.”
Since launching in late 2018, Newton has grown to become one of Canada’s most popular cryptocurrency trading platforms, offering an easy-to-use interface at a significantly lower cost than many of its competitors. The introduction of 3 new pairs brings the total number available to 12, further widening the capabilities gap between Newton and other Canadian market participants.
“Our goal is to be relentless when it comes to offering greater selection at the lowest possible prices,” said Nickolas Tsagatakis, Head of Project Management at Newton. “We’re constantly evaluating new virtual currency projects for suitability on our plat-form, and we subject every one of them to a rigorous set of inclusion criteria before they’re ever offered to customers.”
These new trading pairs are available starting today on web and Android. iOS support is planned in the coming weeks.
Dustin Walper, firstname.lastname@example.org
Author: Business Wire
15-Year-Old From Suburbs Led ‘Evil Computer Geniuses’ in $24M Cryptocurrency Heist: Lawsuit
A powerful cryptocurrency investor is suing a New York high-school senior who he alleges led a “gang of digital bandits” to steal nearly $24 million in multiple cryptocurrencies from him in 2015.
Michael Terpin, the founder and chief executive officer of Transform Group, filed the complaint against Ellis Pinsky in federal court in White Plains, New York, on Thursday now that Pinsky has turned 18 years old.
In the complaint, Terpin claims that Pinsky seems like “an ‘all-American boy,’” but in reality the suburban Westchester County teen is an “evil computer genius” who led a “gang of digital bandits” in a “sophisticated cybercrime spree” in 2018, when Pinsky was just 15.
Terpin is suing Pinsky and 20 co-conspirators who have been named in the case as “20 John Does” for $71.4 million in damages, according to figures in the legal documents. “Pinsky and his other cohorts are in fact evil computer geniuses with sociopathic traits who heartlessly ruin their innocent victims’ lives and gleefully boast of their multimillion-dollar heists,” Terpin wrote in the complaint filed Thursday.
Bloomberg News unsuccessfully tried to reach Pinsky, who does not have a lawyer listed on the complaint.
In the complaint, Terpin accuses Pinksy of stealing data from him and others by tapping into their smartphones through “SIM swaps” and then accessing online accounts by tricking mobile phone carriers into transferring the victim’s phone number and data. Terpin alleges the crime violates federal racketeering and computer -raud laws.
Terpin is also suing AT&T Mobility in Los Angeles for $240 million, which was Pinsky’s phone carrier at the time the alleged hacking occurred. AT&T has filed a bid to dismiss the case based on user-agreement indemnities, Bloomberg News reports.
Terpin won a related civil judgment of $75.8 million in May 2019 against an associate of Pinsky named Nicholas Truglia, who is also facing criminal hacking charges in both California and New York.
Author: Barbie Latza NadeauCorrespondent-At-Large
‘Evil genius’ teens accused of stealing millions in cryptocurrency
A cryptocurrency investor has accused a group of teenagers of conducting multimillion-dollar cyber heists, calling them “evil computer geniuses”, court documents show.
Michael Terpin has accused Ellis Pinsky of masterminding a “sophisticated cybercrime spree” starting when Pinsky was just 15 years old, alongside a crew of hackers also including minors.
Mr Terpin’s complaint claims that the teenagers’ financial crimes “are no less insidious than bank robberies, credit card and bank fraud, and money laundering by drug traffickers and terrorists”.
The legal filing in New York describes Pinsky as, “on the surface… an ‘all American boy’ [who] lives a suburban life with a doting mother who is a prominent doctor”.
But “despite their wholesome appearances, Pinsky and his other cohorts are in fact evil computer geniuses with sociopathic traits who heartlessly ruin their innocent victims’ lives and gleefully boast of their multi-million-dollar heists,” it adds.
Pinsky, now 18, “and his gang of digital bandits” are accused of stealing $24m from Mr Terpin in cryptocurrency after stealing a SIM card and using it to gain access to Mr Terpin’s mobile phone number and take control of his cryptocurrency accounts.
Although these accounts were protected with two-factor authentication, the authentication method – using codes texted by SMS, rather than being generated through an app – allowed hackers to intercept the texts.
Mr Terpin has previously won a $75m judgment against Nicholas Truglia, who is also named in the court complaint at one of Pinsky’s associates.
Truglia had pleaded not guilty, according to Bloomberg.
Sky News was unable to contact Pinsky or his lawyers for their response to the allegations.
[vote2x id=”1610″ align=”center”]
Mr Terpin is also currently suing mobile provider AT&T for failing to protect him from the SIM-swapping attack. AT&T has asked a judge to dismiss the case.
Author: Alexander Martin