Crypto News on April 28: Zcash Co-Founder Exposes Himself, and Ronin Vows to Strengthen Security 

04/29/2022By: L, Laura

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Also today, Russia is one step closer to passing a bill to regulate crypto assets — here’s what’s changed. Learn more crypto news!

 

Crypto News: Interesting Changes to Russia’s Cryptocurrency Bill

 

The Russian Ministry of Finance has forwarded an amended version of its crypto bill to the country’s parliament. After reviewed by Russia’s internal secret service and its federal tax service, questions remain about the extent of regulation of mining and cryptocurrency exchanges. The bill is expected to be passed by the State Duma in May.

 

Finland Is Donating 1,890 BTC to Ukraine

 

Finland has announced that it’s donating 1,890 BTC to Ukraine — worth $75 million at current market rates. The crypto stash follows multiple seizures by law enforcement officials investigating drug-related crimes. Two Finland-based virtual asset service providers have been chosen to serve as brokers to ensure Ukraine receives the funds. They’ll be tasked with selling off the Bitcoin so it can be transferred. Finland’s Finance Minister, Annika Saarikko, described the decision as “right, important and good.” She added: “It is the currency confiscated from the wrongdoers, which is now getting the wings of goodness.”

 

Zcash: Edward Snowden Unmasked as ‘John Dobbertin’

 

Edward Snowden has revealed he’s one of the co-founders of Zcash. The identities of five people who created the well-known privacy coin have been known for some time. But the real name of the sixth — who was only known by the pseudonym “John Dobbertin” — has remained a mystery. Snowden is best known for his time as a whistleblower at the National Security Agency, where he released thousands of documents that revealed how the U.S. was spying on its own citizens. He’s taken part in a new documentary documenting the history of Zcash — and gave fellow co-founder Zooko Wilcox permission to disclose his involvement “as long as it is clear that I was never paid and had no stake.”

 

Ronin Network Offers Update After Record-Breaking $625M Hack

 

The Ronin Network is vowing to beef up security after being the victim to the largest crypto hack on record. Ether and USDC worth $625 million were stolen in the daring hack against the blockchain, which powers the popular play-to-earn game Axie Infinity. Developers say the network will be protected by 21 verified nodes within three months — with a longer-term goal of having over 100. There will also be Bug bounties of up to $1 million to incentivize white hat hackers to detect security vulnerabilities before they can be exploited by malicious actors. Players have been warned that the Ronin bridge may not reopen until late May.