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Minutes ago, the Twitter account of Tesla CEO Elon Musk sent out a suspicious message involving Bitcoin. The message read: “I’m feeling generous because of COVID-19. I’ll double any BTC payment sent to my BTC address for the next hour…” Attached was a Segwit Bitcoin address. The message garnered thousands of likes and retweets in…
Ethereum’s budding decentralized finance ecosystem has gone parabolic over recent weeks.The value of cryptocurrencies locked in DeFi applications has skyrocketed to $1.65 billion, 65% higher than this metric was just 12 days ago. Simultaneously, the number of users leveraging applications like Compound, Maker, and Synthetix has skyrocketed.Unfortunately, a purported hack just took place that may…
One of the rallying cries Bitcoin’s most fervent advocates use to promote the cryptocurrency is “become your own bank.” Indeed, this nascent technology allows you to complete the basic functions of modern banks: receive transactions, store capital, and send transactions (and also verify/process transactions if you want to become a miner).While many libertarians see this…
In November, Upbit, a popular Korean crypto asset exchange, lost $50 million worth of Ethereum (ETH) from the exchange hot wallet in a seeming hack. Details on the attack remain sparse — some think it was an inside job as the word “hack” was not mentioned and due to the timing of the loss of…
Cybercrime is rife across the crypto industry, ranging from SIM-card swap hacks, phishing attempts, password cracking, and even cryptocurrency mining malware. Today, the altcoin project known as VeChain experienced that first hand. The project’s buyback wallet containing a substantial amount of VET tokens was hacked, and the VeChain Foundation is now hard at work doing…
This year has had more than its fair share of scandals involving crypto exchanges and their shady owners. It seems that they are not finished yet as reports are emerging of another exchange boss doing a runner with the keys to the crypto wallets on a relatively unknown Asian exchange. Crypto Exchange IDAX CEO ‘Missing’…
If you’ve been on Crypto Twitter at all over the past few hours, you’ve likely noticed this Ethereum transaction. The transaction, which is for 342,000 ETH (valued at nearly $50 million as of the time of writing this), was sent from Upbit, a popular Korean exchange, to an unknown, unmarked wallet out of nowhere. 🚨…
According to a report by US blockchain forensics firm CipherTrace, crypto asset exchange platforms have already lost $1.2 billion in the first three months of 2019. This represents a substantial increase from last year. Hackers make light work of compromising the often inadequate security precautions implemented by crypto exchanges. Those responsible also frequently make off…
Bitcoin (BTC) up 2.8 percent Hackers strike Bitpoint, user funds stolen Bitpoint is the latest Japanese exchange to lose customer funds through a hack. In an announcement, the exchange said it lost $32 million worth of Bitcoin, Litecoin and other coins stored in their hot wallet. At the time of press, BTC is up 2.8…
Following the demise of one of Poland’s largest crypto exchanges last week, news is breaking today that one in Japan has just been hacked. Bitpoint Suspends Services An official announcement today stated that Japanese crypto exchange Bitpoint has suspended services following a heist to the tune of around $32 million in crypto assets. A Boomberg…