Hackers have stolen over 7,000 Bitcoins from Binance, the world’s largest cryptocurrency exchange by trade volume, as reported by TNW.

CEO Binance, Changpeng Zhao in a support article on the official website wrote that a “large scale security breach” was discovered earlier on May 7. In this security breach, hackers were able to access user API keys, two-factor authentication codes and “potentially other info”, that Zhao has not disclosed until now.

Consequently, hackers were able to withdraw roughly $40.7 million in bitcoin from the exchange, according to a transaction published in the security notice. Currently, the exchange’s team is also unaware that how many accounts have been affected, though it claims that users’ funds will remain safe as the company plans to reimburse accounts affected by this breach.

The disclosure of breach comes hours after Zhao tweeted that the exchange was undertaking “some unscheduled server maintenance,” writing that “funds are #safu.” After the disclosure announcement, Zhao tweeted that the exchange would “provide a more detailed update shortly.”

The CEO of crypto exchange claims the malicious actors used a number of techniques including phishing and malware to carry out the hack. The security breach easily tackled to circumvent Binance‘s security checks, but when the company’s security team noticed this strange activity, the exchange blocked all withdrawals.

What we know so far, withdrawals are likely going to remain blocked until next week. In the meantime, Binance will carry out a security check and will also use its SAFU (Secure Asset Fund for Users) emergency insurance fund, to reimburse accounts affected by this breach.

Last week, Bitcoin faced a major drop in the cryptomarket plunging below $6K. However, things are now looking promising for the crypto-currency as its value reportedly increases by 2.81 percent since the last week.

According to CoinMarketCap, Bitcoin’s current value stands at $6,684.57 as of 5th July. Two days before, the value stood at $6,575 which was a 3.4 percent increase in the last 24 hours. The gradual increase in Bitcoin’s value is now expected to hit $7K in a few days.

As the Bitcoin’s value continues to increase, investors are again getting hopeful in investing in the currency. BTC’s increased market value will attract more investments, building an increased trading volume, which will eventually lead to its regained success in the digital currency market.

Lately, Bitcoin has been showing major fluctuations in the crypto market. While 2017 was a successful year for Bitcoin, 2018 did not fare well for the cryptocurrency. Since the end of January, Bitcoin has been declining continuously. Just, last month, the currency’s value experienced a major downfall as it dropped to $6,455.92, it’s lowest since May. The ever decreasing value made many investors skeptical about the currency’s success, now they are heaving a sigh of relief.

Facebook has updated its policy on 26th June to allow ads that promote cryptocurrency (previously banned) meanwhile making sure the ads are safe and from pre-approved advertisers. However, the new policy still does not favour initial coin offerings (ICO) ads.

Facebook’s revised policy states:

“Starting June 26, we’ll […] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”

In January 2018 amidst the biggest bull run of Bitcoin and altcoins, Facebook created a new policy that prohibited “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”

At that time Facebook asked people to explore and discover new products and service without the fear of being deceived. Facebook simply believed that these ads were not operating on right terms and good faith so they should be prohibited on its platform. However, they also gave a signal that will review the policy and will see if it would be updated or not.

Now after around 6 months Facebook decided to loosen its ropes on cryptocurrency ads by introducing some terms and conditions. For example, advertisers wanting to run ads for cryptocurrency products and services must submit an application to pass through the eligibility criteria designed by Facebook. Moreover, the advertisers have also need to submit any licenses they have obtained, and other necessary information about their business. Keeping these restrictions in mind, not everyone who wants to advertise will be able to do so on the social media platform.

In addition to Facebook, Google and Twitter also have restricted cryptocurrency ads on their respective platforms. This decision by Facebook might encourage other platforms to revisit their advertising policies related to cryptocurrency ads. It is also speculated that once the ads are on flow on Facebook, the credibility of cryptocurrency will increase and there might be a surge in their value.

Blockchain and cryptocurrency are the buzzwords that have taken the technology industry by storm. Blockchain technology can transform the way different sectors work such as; health care, education, banks, and governance. While the applications of blockchain technology go beyond supporting cryptocurrency, it has gained recognition due to the popularity of digital currencies such as Bitcoin, which started its epic bull run last year.

Here is a list of the top influencers that you can follow to discover their journey of defining the future of blockchain technology and cryptocurrency. Further, some of them can also give you the right direction that where you should invest.

1. Andreas M. Antonopoulos

Antonopoulos is an open blockchain and Bitcoin expert. He is also a best-selling author for his work that explores the impact of cryptocurrency on human civilization. He is one of the sought out Bitcoin speakers who can explain the complex technology in user-friendly terms. Best known for his educational videos on cryptocurrency, Antonopoulos is a rare expert who measures the impact of the technology in terms of education, culture, and politics. He frequently tweets about cryptocurrency, encryption and internet security.

Follow them @aantonop.

2. Vitalik Buterin

Buterin is the Co-Founder of Ethereum, a decentralized blockchain mining network and Bitcoin Magazine that covers news and insights about various cryptocurrencies. He has also been featured on the Forbes 30 under 30 list for 2018. Buterin usually tweets about blockchain technology and Ethereum developments.

Follow them @VitalikButerin.

3. Tyler H. Winklevoss

Winklevoss is the co-founder of the world’s first licensed Ether exchange, Gemini Exchange. He co-founded the digital currency exchanger with his twin brother. An entrepreneur and an early Bitcoin investor, he is also the founder of Winklevoss Capital Management. He ranks fourth at the Forbes Crypto Rich List with a net worth between $900 million to $1.1 billion. Winklevoss regularly tweets explore the themes of regulating cryptocurrency and monitoring crypto market for scams.

Follow them @tylerwinklevoss.

4. Balaji S. Srinivasan

Srinivasan is the Chief Technology Officer of Coinbase, a digital currency wallet, and platform that allows cryptocurrency traders and consumers to buy and sell digital currencies such as Bitcoin, Ethereum, and Litecoin. He also serves as the Board Partner of Andreessen Horowitz. Srinivasan previously led Earn.com, service that uses digital currency to send and receive paid microtask. as the Chief Executive Officer. The service which was later acquired by Coinbase. In his tweets, Srinivasan talks about the ups and downs of crypto trading and all the happenings at Coinbase.

Follow them @balajis.

5. Naval Ravikant

Calling himself the Venture Hacker, Ravikant is a serial investor and the CEO & Founder of AngelList. He also serves on the board of the Zcash Foundation. The previous year, he influenced the blockchain circuit by backing a crypto index fund and also a hedge fund that uses a cryptocurrency called Numeraire. He has also worked towards building CoinList and Republic Crypto as part of the AngelList family. While CoinList a platform that holds initial coin offerings compliant to laws, Republic Crypto enables ICOs that are also compliant with laws and inclusive to all kinds of investors. Naval’s tweets challenge norms and conventions associated with cryptocurrency.

Follow them @naval.

6. Marie Wieck

Wieck is the General Manager of IBM Blockchain. She is working towards open ecosystem growth of the Hyperledger Project and aims at delivering enterprise blockchain solutions that have the potential to transform business processes and transactions. She tweets about the initiatives running under IBM Blockchain and supports gender diversity in technology fields.

Follow them at @mwieck.

7. Brian Armstrong

Armstrong is the Chief Executive Officer and Co-Founder of CoinBase. He is working towards building an inclusive open financial system for the world. Known for introducing America and the world to cryptocurrency, he leads the world’s largest exchange for trading digital currency. Armstrong is also known to own more Ether than Bitcoin. His tweets are focused on crypto trading and also explore the social good aspect of cryptocurrency.

Follow them @brian_armstrong.

8. Tim Draper

Tim Draper is the founder of DFJ Venture Capital, Draper Associates and Draper University. The Draper University runs executive programs focusing on Blockchain, ICO Strategies, and Token Offerings. Draper believes that blockchain technology holds more potential than the internet itself to transform all sectors of banking, real estate, insurance, healthcare, venture capital and government itself. His tweets revolve around similar themes with a focus on Bitcoin trading.

Follow them @TimDraper.

9. Anthony Pompliano

Pomp is a crypto capitalist and the Managing Partner of Full Tilt Capital, an early stage venture capital investment company. Along with other crypto experts, he is also introducing a one of its kind crypto newsletter called, Off The Chain. He passionately tweets about the potential of cryptocurrency as the virus is spreading!

Follow them @APompliano.

10. John McAfee

The cybersecurity influencer, John McAfee ventured into cryptocurrency in 2016. He served as the Chief Executive Officer of MGT Capital Investments, a technology holding company. He later made the company venture into incorporating blockchain technology for cryptocurrency mining. While his tweets may seem brazen sometimes, he continues to influence the cryptocurrency circuit with predictions and indications of the potential of blockchain technology.

Follow them @officialmcafee.

There has been a lot of fuss about social networks and search engine giants blocking cryptocurrency ads. Twitter, in particular, was rumored to block and crack down on cryptocurrency in previous reports, but nothing was certain at that time.

As of now, Twitter has confirmed to Reuters, that they will start banning all cryptocurrency and ICO advertising effective from today, Tuesday. The report follows the recent crackdown of Google and Facebook against crypto ads.

The previous report that Twitter will ban ads for ICOs, token sales, and crypto wallets from most of the crypto exchanges, has been confirmed and initiated from today. The revised policies for these financial services related advertisements will be disclosed in next 30 days, however, some crypto exchanges will get an exception if they are listed as public companies on certain major stock markets.

There is a logic to focusing on exchanges from public firms. Companies on a major stock exchange have strict transparency rules and they give a detailed insight of the company they are working with.

According to a Twitter’s spokesperson,

“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally. We will continue to iterate and improve upon this policy as the industry evolves.”

Twitter has been struggling with serious issues like fake accounts who have been “engaging with others in a deceptive manner” as revealed in a report earlier this month.

Following this news, the crypto market has seen a certain downfall, as on CoinMarketCap. Bitcoin fell by 6% in 24 hours and is now trading to a low of $7,895 (as of writing).

Following China’s ban on Initial Coin Offering(ICO) and Cryptocurrency exchanges, Japan has risen above to take the top spot for the biggest Bitcoin market in the world.

According to CryptoCompare, a website which shows Bitcoin and other cryptocurrency indexes, Japan appears to have become the largest Bitcoin exchange market in the world with a 50.75% market share. While Japan has quietly risen to the top of the Bitcoin market, China has seen its share in the market drop to below 7%. Analysts are attributing this to the Cryptocurrency mess that has been going on in China for a while now.

A report titled ‘China Internet Report 2017’ by Edith Yeung, released last month, crowned China as the biggest cryptocurrency market in the world. However, since then China’s relationship with Bitcoin and other cryptocurrencies has gone down a tumultuous path shaking the entire international market. During the first week of September, China banned Initial Coin Offering – a new and effective way being used by startups to raise funds. Following that announcement, all the major cryptocurrencies went in a downward spiral after the cryptocurrency market saw an overall growth of more than 800% this year.

But that wasn’t it. China even went ahead and banned all cryptocurrency exchanges in the country, ordering them to stop operations by 30th September. As a result, traders have departed from the Chinese market, in efforts to save themselves from the unpredictable regulators in China. Their new home is clearly Japan which has surged to the top of the Bitcoin market.

It remains to be seen how long Japan lasts at the top of the table. But China, on the other hand, appears to be completely fine with its decision to ban cryptocurrency exchanges in the country.

An interesting thing to point out here would be that China is currently working on developing its own cryptocurrency so it is possible that the country is giving external cryptocurrencies the same treatment it gave to Facebook, Google, and Uber.

In an expected turn of events, Chinese regulators have announced that all Chinese cryptocurrency exchanges must stop trading to remain compliant.

China had previously expressed interest in banning cryptocurrency exchanges and today it has gone ahead and given an ultimatum to the exchanges to halt these services. Prior to taking this action, China also banned Initial Coin Offerings in the country. ICO has emerged as an alternate yet very effective way for startups to fund themselves.

How did the cryptocurrency market react to that? Badly. Just after the news that China might ban virtual currency exchanges, cryptocurrency market lost billions of dollars. At the time of writing this news, the value of a Bitcoin stands at $3000. This is the lowest value it has achieved in the past few weeks.

In other news, China’s second largest cryptocurrency exchange BTCChina just yesterday announced that it will also shut down on September 30. This is a major blow for the cryptocurrency users, traders in China and around the world.

After a flurry of negative press around Bitcoin, short term investors are also cashing out quickly to maintain the profits as the value of Bitcoin continues to decline. China is one of the biggest cryptocurrency markets and it accounts for 23% of the Bitcoin trades.

“China is practically building a cottage industry for mining and exchanging Bitcoin and other cryptocurrencies, so it is hard to believe that they intend to exit a market with so much potential upside,”

Jason English of Blockchain alliance Sweetbridge told CoinTelegraph.

“Even the apparent ban on ICOs seemed to be more of a stopgap in order to get some policies in place. If anything, this example shows the volatility of the space and that some market-makers can likely take advantage of an unclear news cycle to create a sell-off and buy back opportunity.”

Bitcoin has just had a major blow and we’re not sure how long it will take for it to recover.

Trusted cryptocurrency websites for the Bitcoin Index – including CoinDesk and CryptoCompare – show that a single Bitcoin is currently valued below $4,000 and has been circling around the $3,700 mark for quite a few hours now. This is the lowest Bitcoin’s value has gotten in weeks. In fact, on September 4th, Bitcoin’s value surged past the $5,000 mark for the very first time. However, it has had a tumultuous time since then.

Just a day after Bitcoin flew past $5,000, China banned Initial Coin Offering(ICO). An ICO works in a somewhat similar manner as an Initial Public Offering (IPO), except instead of stocks companies sell a particular number of cryptocurrency tokens. Recently, a lot of companies have started using ICO’s to raise funds. Earlier this summer, a startup called Bancor raised $153 million on Ethereum in less than three hours of its ICO, making it the largest token sale ever. ICO even beat other crowdfunding methods and venture capital to become the most effective way to raise funds.

Nonetheless, China’s ban on ICO sent the cryptocurrency market crashing down. After having grown by 800% in the first half of 2017, the cryptocurrency market lost billions of dollars. While the market was recovering from that blow, China went ahead and banned the Bitcoin and other cryptocurrency exchanges in the country.

But this wasn’t it. Bitcoin also suffered a major blow from the CEO of JP Morgan Chase & Co, Jamie Dimon, who called Bitcoin a fraud and that it will blow up soon.