Cryptocurrency price LIVE: Bitcoin plummets as China panic grows - ETH and DOGE also down

According to The Times, TSB bank is set to block customers from sending money to trading sites including Binance and Kraken. 

This is due to fears over scammers being allowed to set up e-wallets and steal people's money because of weak security checks. 

Ashley Hart, head of fraud at TSB, said: "We've seen a dramatic spike in fraud as cryptocurrency exchanges are rife with fraudsters, stealing vast sums as they capitalise on the surging interest in this type of investment."