Day: August 10, 2019

Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

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Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today. Market visualization courtesy of Coin360 Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 to $11,400 in a matter of minutes between 7:30 AM and 7:45 AM Coordinated Universal Time. Looking at its weekly chart, BTC is up by about 5.5%. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) is…

Bitcoin Believer Turned Facebook’s Libra Boss

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David Marcus, the man spearheading Facebook’s blockchain effort, has gotten a tremendous amount of spotlight lately. The rapid emergence of Libra has dominated the coverage of other crypto-related developments, as it became apparent that the social media giant’s inroad into the realm of digital assets will have most serious consequences for both the blockchain sector and the global financial system in general. While previously the crypto industry has hardly ever had one key spokesperson — which is perhaps a natural and welcome state of affairs for a domain wherein decentralization…

US DOE Dedicates $1.05 Mil to Blockchain Energy Management Platform

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The United States Department of Energy (DOE) has awarded a grant worth $1.05 million to organizations working to commercialize a blockchain-based energy transaction platform. From energy management to energy exchange The news comes from an August 9 press release shared by energy company ComEd, one of the grant’s four reported recipient organizations. The others are the University of Denver, Virginia Tech and BEM Controls, a company specializing in energy management software.  The new project is reportedly a continuation of BEM Controls’ existing DOE-funded work on software to enhance energy efficiency…

XMR Cryptojacking Malware Smominru Updated, Now Targeting User Data

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Malware Smominru mines Monero (XMR) on at least half a million infected computers and now also steals sensitive personal data. An updated malware Cybersecurity company Carbon Black claimed that its Threat Analysis Unit “uncovered a secondary component in a well-known cryptomining campaign” in a report published on Aug. 7. According to the firm, the malware has now been updated to “also steal system access information for possible sale on the dark web.” Per the report, the update is part of a broader trend in malware development: “This discovery indicates a…

Crypto Exchange Binance Points out a Dusting Attack Against Litecoin

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Cryptocurrency exchange Binance claims that a dusting attack against fourth-biggest altcoin, Litecoin (LTC). A large scale attack against privacy The official Twitter exchange of cryptocurrency exchange Binance claimed that a major attack against users of altcoin Litecoin took place yesterday. The firm made this claim in a tweet on August 9: “Approximately 5 hours ago there was a large-scale dusting attack on $LTC @Litecoin users.” The tweet also links to a transaction — which according to Binance is part of the attack — sending a fraction (0.00000546 LTC) of a…

Is the US Government Working to Ban Anonymous Crypto Usage?

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Is the US Government Working to Ban Anonymous Crypto Usage? August 10, 2019 by Jeff Fawkes A number of U.S. government officials in high positions — including the President — claimed recently that cryptocurrency is not a good way to pay for goods and services. While some analysts say this stopped a 2019 bull run in its tracks, is it true these words actually have a significant impact on digital asset prices? Also read: Binance Says KYC Data Leak ‘Fake’, but Is Investigating Blackmail Demand Source Subscribe to the Bitsonline YouTube channel for…

IBM Files Patent for a Blockchain-Based Web Browser

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A new patent application from IBM describes a blockchain-based web browser. Filed on August 6 by the United States Patent and Trademark Office, IBM’s patent is for a web browser backed by a peer-to-peer network. The browser collects pre-specified information from web browsing sessions, according to the patent. The information is then transferred to a network of peer-to-peer nodes for collection and storage. Information collection depends on the type of browsing experience chosen. Browsing on a work computer versus a personal browser would demand different settings, for example.  Types of potentially…

Binance KYC Breach — Did It Happen, and If So, Who’s to Blame?

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On Aug. 7, Binance, the world’s largest cryptocurrency exchange (by daily trade volume), fell victim to a hacking scandal that saw the miscreant allegedly gain possession of a huge chunk of the firm’s Know Your Customer (KYC) data (10,000+ personal photos). The hacker is reportedly demanding a total of 300 Bitcoins (worth around $3.5 million) from the exchange, or else he or she will release all of the data. Also, it bears mentioning that upon commencing his activities, the hacker set up a couple of dedicated Telegram groups (which have…

Coinbase’s Fraud Case Dismissed; Crypto Exchange to Pay for Mismanaging Bitcoin Cash Launch

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The San Francisco-based crypto exchange Coinbase may be out of the fraud loop but it, however, isn’t completely out of the woods yet. Judge Vince Chhabria of the California District Court ruled against the plaintiff’s charges of fraud and unfair competition against Coinbase but also denied its arbitration motion saying the digital asset exchange had a duty to the market but instead it “breached its duty to maintain a functional market.” The ongoing case is one of the several attempts to bring Coinbase to pay for allegedly manipulating the crypto…

The Ultimate Showdown for Crypto Supremacy

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Last month, Facebook rocked the world with its blockbuster Libra announcement. Even a year ago, the idea that an iconic United States company would launch a digital currency or that a sitting president would tweet about it seemed insane.  Welcome to the new normal. The Libra announcement sent politicians scrambling, hit the mainstream media like a hurricane, and left many crypto influencers wondering if the social network giant just turned 90% of altcoins worthless. What tiny crypto project with a few dozen programmers can stand against the combined might of not just…