Archive for the ‘Crypto News’ Category

Google is taking an aggressive stance regarding advertisements of cryptiocurrencies and other related content, a move apparently as a direct result of concerns regarding ICOs and the scams surrounding some of them. The company has announced that it is going to ban crypto-related ads on their platform, so crypto advertisers will have to find other ways to promote their content starting June when Google will not be an option anymore. The updated financial services policy for ads on Google’s platforms is not going to affect only crypto currencies, but other financial products as well.

Back in January Facebook announced it will ban advertisements promoting cryptocurrencies and initial coin offerings due to concerns of misleading and deceptive ads being shown on their plaforms that could lead users to scams. Facebook’s ban also covered other financial products and services and not only crypto currencies and although it has been in effect for a while one could still see some crypto-related ads on Facebook.

The good news is that there are already some platforms available and others are popping up that are targeting the crypto currency advertisement space. Unfortunately these platforms also do have the same issue that Google and Facebook are facing – concerns that some of the advertisers might try to mislead and scam users.

To read more about Google’s new restricted financial products policy regarding ads effective from June…

NiceHash has announced its plans to start reimbursing all users that were affected by the security breach that happened on December 6th last year starting this Friday, February 2nd. The NiceHash Repayment Program will initially reimburse 10% of the old balance amount to all users that were impacted by the security breach. NiceHash will continue to periodically repay the remaining amount to all users in the coming months untill the full amount from the old balances is paid back. The old balance will be repaid in Bitcoins (BTC) and not in the fiat value or any other cryptocurrency…

Repayment program for internal wallet users
Users that were registered on the NiceHash platform before December 6, 2017 can log in to their account and can see their old balance tab under the Wallet section on their Dashboard. The old balance shows the total amount of Bitcoins (BTC) that users had on their wallet address prior to the attack. This balance will be fully reimbursed by NiceHash to users current balances, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Registered users should enter the Repayment program by clicking the “Enter repayment program” button on their Dashboard. Users will be notified about all future payments in advance.

Repayment program for external wallet users
Users who were not registered with NiceHash at the time of the attack and were using the NiceHash service with their external wallet address will also be reimbursed in the same way as internal wallet users. External wallet users can go to the following page and enter their external wallet address (that they were using at the time of the attack) to see their old balance. This balance will be fully reimbursed by NiceHash to users external wallet addresses, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Users will also be able to monitor repayment progress on the miner page.

Conditions for payment to external wallet addresses do apply with the Repayment program. When you reach 0.01 BTC you are eligible for payment. NiceHash will include your old balance in this amount. For example, if your old balance (that is going to be reimbursed) is 0.009 BTC, you still have to mine an additional 0.001 BTC to this external wallet address so you reach 0.01 BTC in total. Once the combined balance shows 0.01 BTC, payment will be made to your external wallet address.

It seems that WaveCrest is also terminating their prepaid MasterCard cards powered by crypto currencies, but unlike the sudden surprise at the beginning of this year with their Visa issued cards, now at least it is not entirely “effective immediately”. There is 1 month grace period for users to either use the funds or withdraw them, though loading up money to the card has been stopped effective immediately. Below is a quote of the official email that WaveCrest has been sending to its customers regarding the situation…

Dear Cardholder,

We regret to inform you that from the 27 February 2018, we will no longer be able to service your MyChoice Prepaid Debit Card.

You should, therefore, use up or remove any balance on your card before that date. We will block the loading of new funds to your card effective immediately to help avoid any balance remaining on your card. You will be able to request that any remaining balance on your card after 27 February 2018 be refunded to you in line with the Cardholder Agreement.

Unverified cards must be verified in order to be eligible for a refund. Please note that any funds that remain on your account after this date will continue to be subject to the terms of the Cardholder Agreement (other than as set out in this email). You can find the Cardholder Terms here.

Please also note that we have taken the decision to set new daily ATM limits to EUR 1000/USD 1000/GBP 800 for transaction inside the SEPA region; transaction outside of SEPA will be limited to EUR 500/USD 500/GBP 400.

We apologize for any inconvenience caused. If you have any questions, please contact us at

Kind regards,

It seems that the crypto services offering prepaid MasterCard bank cards powered by Bitcoin and/or other crypto currencies will need to find an alternative issuer for their customers, just like the ones affected by the WaveCrest VISA ban form earlier that month. It is a fact that the main issuer for most of these services, at least in Europe, was WaveCrest using Visa along with some using MasterCard. The services that were surprised at the start of the year are reporting that they are already working with new card issuers to restore their functionality, though it could still take up a few more months. Meanwhile other innovative financial services that are not originally crypto oriented may use the opportunity to gain a lot of new users by providing attractive and useful services and maybe even slowly introducing cryptocurrency support.