Japan’s National Police Agency has revealed that 60.503 billion yen ($540 million) worth of crypto was stolen in the first six months of 2018. In 2017. around 662.4 million yen ($5.91 million) worth of crypto was reportedly stolen online, in 149 incidents. The largest single incident was the industry-record-breaking hack of crypto exchange Coincheck, in which the equivalent of 58 billion yen ($520 million) worth of NEM was stolen this January. The remaining 2.5 billion yen ($22 million) stolen in crypto this year involved the hacking of individual accounts, and 60% of those cases involved individuals who use the same password across their email, e-commerce and online crypto dealings.
2. Australian Financial Regulator Issues Warning on Misleading ICOs
The Australian Securities and Investments Commission (ASIC), has issued a warning on “misleading” Initial Coin Offerings (ICOs) and crypto-asset funds targeted at retail investors, in today’s report published on ASIC’s official website. ASIC has stopped five different ICOs from raising capital since April 2018. The main problems are misleading or deceptive statements in sales and marketing materials, and unregistered investment schemes that do not hold Australian financial services licence. ASIC has earlier revealed its plans approach cryptocurrency exchanges and ICOs with increased scrutiny, designating the industry as a high-priority one for the agency until 2022.
3. New York University Offers Major in Blockchain Technology
New York University (NYU) has become the first University in the U.S. to offer students a major in blockchain technology. The program will be provided by the NYU Stern School of Business, which was also a pioneer in offering undergraduate courses in cryptocurrencies and blockchain. They hope to establish a groundwork so the students can understand both the legal and the business implications and take into the new market. According to a Coinbase study, 42 percent of the world’s top 50 universities have at least one class on cryptocurrencies and blockchain. The study found that blockchain and crypto-related courses are most popular in the U.S. among other countries. Another study shows that 21.2 percent of college students used loan money to fund a crypto investment, hoping that the upward price volatility in crypto would help pay their debts faster.