Day: December 27, 2018

Bitcoin Electrum Wallet Attacked: Hacker Steals 200 BTC

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Nearly $1M In Bitcoin (BTC) Stolen An anonymous hacker (or consortium of hackers) have purportedly stolen nearly $1 million worth of Bitcoin (BTC), reports technology media outlet ZDNet. Per the report, the Electrum Wallet, a popular open-source project founded in mid-June 2011, was breached in a “clever attack.” The attack, which has since been confirmed by the team behind the venture, purportedly consisted of a false message appearing on users’ official Electrum-based applications, which beckoned consumers to visit a site. If the link stipulated was clicked, it would lead victims to…

Zion Market Research Report Explains: Global Blockchain In Energy Market likely to grow to USD 11,899 Million By 2024

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Renewable Energy – Sunlight with solar panel. Wind with wind turbines. Rain with dam for hydropower Zion Market Research has published a new report. According to the report, the global blockchain in energy market was valued at around USD 208 million in 2017 and is expected to reach approximately USD 11,899 million by 2024, growing at a CAGR of above 78.20% between 2018 and 2024. advertisement Blockchain, also know as decentralized ledger technology has no core system or a central server. The authentication of these servers is handled publicly. It helps people…

Bitcoin, Ether, and XRP Weekly Market Update: December 27, 2018

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Total crypto market cap rose to $127 billion since our last report a week ago as ether and bitcoin cash were the biggest gainers during that period overshadowing the modest price increase for bitcoin, XRP, and EOS.  BTC/USD Bitcoin marked its 6th consecutive day of gains on December 20 and closed the day at $4,200, 10 percent up for the day and 28 percent for the above mentioned period. The bull case was strong for the BTC/USD pair and traders were hoping for a 2017-like end of year rally. The…

Phishing Attack on Electrum Wallet Nets Hacker Almost $1 Million in Hours, Report

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A reportedly ongoing hack against cryptocurrency wallet Electrum has seen a malicious party steal almost 250 Bitcoin (BTC) (about $937,000), commentators reported on social media Dec. 27. Subsequently confirmed by Electrum itself, the attack consists of creating a fake version of the wallet that fools users into providing password information. “The hacker setup a whole bunch of malicious servers,” Reddit user u/normal_rc explained: “If someone’s Electrum Wallet connected to one of those servers, and tried to send a BTC transaction, they would see an official-looking message telling them to update…

If Bitcoin Can’t Recover to $5k to $6k in Short-Term, It’s in Trouble

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Mark Dow, a trader who shorted Bitcoin (BTC) from its all-time high at $19,500 to $3,500, said that the dominant cryptocurrency could be in trouble if it does not escape the $5,000 to $6,000 range in the short-term. Dow, who made headlines earlier this month for exiting his short position on Bitcoin, said that the asset has to break out of major resistance levels and the failure to do so could result in a further decline in value. Can Bitcoin Breakout of $6,000? Although some traders expressed a positive sentiment…

Venezuela sees increase in bitcoin volumes

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Venezuela seeing crypto assets entering the economy There are incoming reports indicating that bitcoin’s trading volume in Venezuela has made some big volumes over the past week covering more than 1,974 BTC trades on LocalBitcoins. The country is seeing peer-to-peer purchase of bitcoin rising. According to the humanitarians looking into the crisis in Latin America most of the oil-rich countries are looking into the use of Bitcoin. According to a report: “Yes, 10 million percent because prices in Venezuela are doubling or tripling every month. And that, when you take…

The country of Venezuela sees increase in bitcoin volumes

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Venezuela seeing crypto assets entering the economy There has been reports that bitcoins volume in trading in Venezuela has made some big volumes over the past week. Covering more than 1,974 BTC trades on LocalBitcoins. The country is seeing peer-to-peer purchase of bitcoin rising. According to the humanitarians in the crisis in Latin America most of the oil-rich countries are looking into the use of Bitcoin. According to a report: “Yes, 10 million percent because prices in Venezuela are doubling or tripling every month. And that, when you take it…

Suspect Arrested for Stealing $3+ Mln of Electricity to Mine Crypto

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A Taiwanese man suspected of stealing electricity worth over $3 million to mine Bitcoin (BTC) and Ethereum (ETH) has been arrested, according to a report from local news channel EBC Dongsen News Dec. 26. The suspect, whose surname has been given as Yang, has been accused of allegedly stealing the electricity to successfully mine cryptocurrencies worth over 100 million yuan (around $14.5 million). Yang is purported to have used a minimum of 17 various business premises to open toy shops or internet cafes there as a facade for his alleged…

Why India’s Strict Policy Will Have a Bigger Toll on Walmart Than Amazon

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New restrictions over e-commerce businesses operating within India’s borders have raised concerns that major online retailers like Amazon and Walmart will have it “tough” in the region. However, it’s Walmart that could be left on the ropes following this new rule change, considering Amazon’s dominance in the e-commerce space. Walmart’s Opportunity To Beat Amazon May Be Lost Due to New India Policy India’s Commerce and Industry Ministry has created a new landmark set of restrictions that bar global business entities such as Amazon and Walmart from selling their inventory to…

Bitcoin Mining Firm Bitmain Rumored to Cut 50 Percent of its Staff

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According to a report published by Finance Magnets, on December 24, 2018, Bitcoin mining behemoth Bitmain has sacked its entire Copernicus team, which was responsible for the development of the firm’s Bitcoin Cash client. Bitmain to Cut its Workforce by half in the Coming Week Per sources close to the matter, Bitmain has silently laid off its entire Bitcoin Cash client development team with just one-week notice. Blockstream CSO and former BTCC COO, Samson Mow made the layoff public on Twitter on December 24, 2018, adding that some of the…