Facebook is planning on rolling out its own cryptocurrency by the first quarter of 2020, a digital payments system that will be active in roughly a dozen countries, the BBC reports. The social media giant has an estimated 2.4 billion monthly users, and would pose an immediate challenge to Amazon, PayPal and other e-commerce, payments […]
The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), warned that ICAP Crypto is a clone firm in a public announcement on May 24. According to the report, ICAP Crypto is a clone firm of ICAP Europe Limited. Clone firms are a type of scam in which the scammers use information from legitimate firms in an attempt to convince targets that they are genuine.
By CCN: Mark Zuckerberg has been collaborating with his old rivals, the Winklevoss twins, to launch a digital currency that can be used across Facebook, WhatsApp, Instagram and beyond, according to a report in the Financial Times. Facebook’s cryptocurrency, reportedly dubbed GlobalCoin, is expected to make its debut next year. The FT reports that Facebook is talking to crypto exchanges including Gemini, which was founded by Tyler and Cameron Winklevoss, in addition to Coinbase. The concept is that users of Facebook’s payment crypto would have the option to potentially hold their coins on a trading platform or convert it for
Two miners have reportedly executed a 51% attack on the bitcoin cash (BCH) blockchain, according to tweets by Cryptoconomy Podcast host Guy Swann on May 24. 51% attacks have generally been considered an undesirable and unprofitable option to take funds, as it would require a massive amount of computing power, and once a network is considered compromised, users would ostensibly flee.
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - Andrew Kiguel, CEO of Hut 8 Mining, talks about their company that provides direct exposure to bitcoin.If you cannot view the video above, please visit:https://www.b-tv.com/hut-8-mining-exposure-to-bitcoin-ceo-clip-90sec/Hut 8 Mining is being featured on BNN Bloomberg on May 25 - May 26, 2019, throughout the day and evenings.Hut 8 Mining (TSXV: HUT)hut8mining.comAbout CEO Clips:CEO Clips is the largest library of publicly traded company CEO videos in Canada and ...
If you're an AT&T mobile customer, and you have some extra bitcoin lying around that you're not doing anything with, you can now use it to pay your phone bill.AT&T just became the first big US wireless carrier to announce that its customers can now use cryptocurrency to make payments, as greater acceptance of this digital medium of exchange can be seen at companies ranging from AT&T to cable provider Dish, which also lets its customers pay via cryptocurrency. Likewise, Facebook on Friday garnered headlines over a report that it's set to launch its own cryptocurrency for use on the social network early next year.About AT&T's move, all customers need to do is select the BitPay option at MyAT&T. BitPay is an Atlanta-based bitcoin payment service provider, and it's also worth noting: This is an option that only currently works online and via the myAT&T app, so it's not as yet available for in-store payments."We're always looking for ways to improve and expand our services," said Kevin McDorman, vice president, AT&T Communications Finance Business Operations, in a statement about the new payment option. "We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer."There are of course a slew of different cryptocurrency options out there, and AT&T's announcement doesn't specify a particular kind. BitPay's website, though, notes that currencies it supports include Bitcoin, Gemini USD, and Paxos, to name a few.As of now, it's a safe bet to assume that crypto payments will probably remain a small minority of AT&T's customer payment mix for the near future. That's thanks to everything from the general public's unfamiliarity with the digital asset to obstacles like its fees and high volatility, the latter being two of the most frequent criticisms you hear.Still, expect to keep hearing more announcements like this as companies keep experimenting. Just a few weeks ago, for example, retailers like Whole Foods and GameStop likewise announced they'll be getting in on the act too, accepting cryptocurrency through the Flexa payment network.
By CCN: These days, billionaire hedge fund titan Mike Novogratz is known more for his rabid Bitcoin pumping than his Wall Street wizardry. However, in a new CNBC interview, he channeled his inner Bernie Sanders to champion another of his passions: wealth redistribution. Novogratz, Bernie, & AOC Find Surprising Common Ground During an appearance on Squawk Box today, Novogratz commented on America’s income equality gap and declared that we need a “redistribution of wealth.” The Galaxy Digital chief believes that one way to do that is to levy taxes on Wall Street. He echoes sentiments not commonly heard these days
Erik Finman is a twenty-something bitcoin maximalist as famous for hisprecocity as he is for his $12 bet on the currency a few years ago
The Winklevoss twins famously sued Zuckerberg for allegedly stealing the idea for Facebook while the trio were classmates at Harvard University.
Blockchain browser Brave is testing a new tipping function for social media platform Twitter on its Nightly version, it announced in a tweet on May 23. The feature is designed to award content creators with Brave native digital tokens, basic attention tokens (BAT). “When you visit Twitter in the Brave Browser for desktop, you will see a special tip button on each tweet.
The purpose of this infographic is to visualize the size of large cryptocurrency hacks that have occurred in the past as if they all happened today. The hacks included in this infographic extend beyond exchanges, as there were other large entities that experienced cryptocurrency hacks, such as marketplaces like Silk Road 2.0. All hacks in this infographic are displayed as if the price of bitcoin was the same when they occurred, in order to visualize their magnitudes in relation to one another.The x-axis shows the price of bitcoin at the time of the hack. The y-axis shows the amount lost in the hack (converted to BTC for altcoin hacks). The size of each hack circle was determined by the value of BTC lost using a consistent price, regardless of the actual price at the time.It is important to note that several of the exchanges (rendered in green) were hacks that did not necessarily involve bitcoin or exclusively involve bitcoin.Mt. GoxHack Dates: June 2011, February 2014Amount Lost: 790,000+ BTCIn March 2014, Mt. Gox declared bankruptcy due to a series of hacks and thefts that went unreported for over three years, which were later documented by blockchain analyst Kim Nilsson. The final collapse resulted in a crash of Bitcoin in 2014. Below is a summary of all meaningful hacks that occured.On March 1, 2011, 80,000 BTC were stolen from Mt. Gox’s hot wallet, as thieves were able to make a copy of the wallet.dat file. In May 2011, hackers stole 300,000 BTC temporarily stored on an off-site wallet, which was on an unsecured, publicly accessible network drive. However, shortly after, the thief got nervous and returned the stolen funds with a 1 percent (3,000 BTC) “keeper’s fee.” In June 2011, a hacker was able to get into Jed McCaleb’s administrator account and manipulate prices, temporarily crashing the market. After the ordeal was over, the hacker managed to steal 2,000 BTC.In September 2011, a hacker was able to get read-write access to Mt. Gox’s database. The hacker created new accounts on the exchange, inflated user balances and was able to withdraw 77,500 BTC, after which they deleted most of the logs containing evidence of such transactions. In October 2011, a bug in Mark Karpeles’ new wallet software caused 2,609 BTC to be sent to an unspendable null key. The largest hack occurred at some point between September and October 2011 when a hacker was able to obtain a copy of Mt. Gox’s wallet.dat file and stole 630,000 BTC.BitcoinicaHack Date: March 1, 2012Amount Lost: 43,000 BTC and then another 18,457 BTCWeb hosting provider Linode’s servers were hacked, granting access to the bitcoin stored on pioneering exchange Bitcoinica. The incidents ultimately led to the demise of Bitcoinica.BitFloorHack Date: September 2012Amount Lost: 24,000 BTCBitFloor was compromised when a hacker was able to access unencrypted backups of the exchange’s wallets and transfer out the coins.Poloniex * Hack Date: March 4, 2014 * Amount Lost: 97 BTC * In March 2014, Poloniex announced that it has been the victim of an attack due to a previously unknown vulnerability in its coding. As a result, the exchange told all of its customers that it would have their account balances reduced by 12.3 percent.BitstampHack Date: January 2015Amount Lost: 19,000 BTCHackers were able to access Bitstamp’s hot wallet. As a result of the theft, Bitstamp began to keep 98 percent of its bitcoins in cold storage.CryptsyHack Date: July 2014Amount Lost: 13,000 BTCIn early 2016, Cryptsy collapsed following the theft of 13,000 BTC (and 30,000 LTC) from customers’ wallets.BitfinexHack Date: August 2016Amount Lost: 120,000 BTCAttackers were able to exploit a vulnerability in the multisig wallet architecture of Bitfinex and blockchain security company BitGo.QuadrigaCXShutdown: January 15, 2019Amount Lost: Approximately $190 million in BTC, ETH and CAD (at time of publication)The co-founder of QuadrigaCX died on December 9, 2018, allegedly as the only one with access to the exchange’s keys. Evolving courtroom proceedings have revealed fund mismanagement and potential fraud on the part of the exchange. This has led to calls for greater oversight of exchange operations. 2018’s Cluster of Mishaps in AsiaA cluster of hacks and mismanagement of funds by exchanges in 2018 occurred as the result of minimal regulation and security precautions. Consequently, some exchanges were forced to close operations entirely while others received fines.Coincheck (Japan)Hack Date: January 2018Amount Lost: 523 million NEMCoinrail (South Korea)Hack Date: June 2018Amount Lost: $40 million in various cryptocurrenciesOn July 15, 2018, Coinrail resumed trading and offered the victims two compensation options: a gradual refund through the purchase of stolen cryptocurrency or compensation in Coinrail’s RAIL tokens, which could then be converted into another cryptocurrency at an inner rate.BitHumb (South Korea)Hack Date: June 2018Amount Lost: $30 million in various cryptocurrenciesThe successful hack of BitHumb occurred shortly after the exchange updated its security systems following an earlier hack in 2017. Decentralized ExchangesBancorHack Date: July 9, 2018Amount Lost: $23 million (mostly in ETH)Hackers were able to gain control of a Bancor exchange wallet and transfer out funds.BitGrailHack Date: February 21, 2018Amount Lost: $170 million in XRB, now NANOFollowing this hack, authorities in Florence confiscated all of the cryptocurrency from the Italian exchange BitGrail to secure the claim of affected users, and the Nano Foundation promised to assist in the protection of interests and compensation for losses. Users accused the exchange of having lax security.MyBitcoinHack Date: July 2011Amount Lost: 78,739 BTCLittle information was released about the MyBitcoin theft, however, many argue that operator Tom Williams ran it as a scam. The theft resulted in the closure of MyBitcoin, which was once a successful Bitcoin company in the cryptocurrency’s early days.Bitomat.plHack Date: July 27 2011Amount Lost: Approximately 17,000 BTCDuring a server restart, the remote Amazon service that housed Bitomat.pl’s wallet was wiped. No backups were kept and Mt. Gox later bailed Bitomat.pl out. Ultimately, neither exchange customers nor original owners suffered any loss from the incident.Evolution Darknet MarketplaceHack Date: March 2015Amount Lost: Approximately 44,000 BTCIn March 2015, Evolution Marketplace administrators “Kimble” and “Verto” were suspected of unexpectedly shutting down Evolution, a darknet marketplace that appeared after the seizure of Silk Road 2.0, and vanishing from the internet with all user funds.Silk Road 2.0Hack Date: February 2014Amount Lost: Approximately 4,400 BTCDefcon, an administrator at underground marketplace Silk Road 2.0, noticed that funds held for the escrow service were stolen from a hot wallet in February 2014. “Transaction malleability,” an issue with the Bitcoin protocol at the time that also affected some other services, was blamed for the theft, though many suspect it was an inside job.This article originally appeared on Bitcoin Magazine.
By CCN: Crypto price-tracking website CoinMarketCap is sponsoring the Beitar Jerusalem Football Club, an Israeli soccer team. And Israel’s most famous footballer, Yossi Benayoun, is a bitcoin investor. Benayoun retired from Beitar Jerusalem last month. Beitar Jerusalem Scores CoinMarketCap Sponsorship Luke Wagman, the CEO of CoinMarketCap, proudly touted the news on Twitter. A giddy Wagman even suggested that CoinMarketCap’s sporty new uniforms brought Beitar Jerusalem some good luck in a friendly match against Madrid. “Thrilled to be featured on the Beitar Jerusalem Football Club’s uniforms yesterday in their match versus Atlético Madrid. They won 2-1! It is exciting to see
Cryptocurrency fund manager Brian Kelly expects Bitcoin to rally further in the next few months on the back of its “halvening,” due in 2020. Similarly, CEO of Morgan Creek Capital Mark Yusko believes that Bitcoin investments will outperform the S&P 500 investment fund over the next 10 years. According to him, the low correlation of the cryptocurrency with other asset classes is also a reason why it should be in every investors portfolio.