Day: July 31, 2020

Twitter Releases Details of Attack Vector Used by Crypto Hacker

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Twitter released an update on July 30 revealing how hackers gained access to its internal network and account management tools in the recent attack. It also gave details of additional measures taken to improve security since the hack, which netted 12 Bitcoin (BTC) through targeting the Twitter accounts of celebrities and crypto businesses. Phishing for complements The update confirmed that Twitter had been the victim of a social engineering attack, putting paid to rumors that the hack could have been an inside job. According to the report, the July 15…

SEC To Regulate Binance Chain With Blockchain Analytics Firm CipherTrace

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The US Securities and Exchange Commission plans to award CipherTrace blockchain analytics firm with a contract pertaining to Binance Chain.       SEC Awards Contract to Regulate Binance Chain   Binance Chain is a blockchain created to host Binance coin “BNB” and it underlies Binance Dex, which is a decentralized exchange built by Binance, the largest crypto exchange on the market by volume.    The Securities and Exchange Commission (SEC) would like to see CipherTrace analytics firm in charge of regulating Binance Chain, as it declares that the blockchain-based firm is “the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network. CipherTrace is…

Bitcoin Could Hit $12K on Ethereum-Tailing Behaviour: Analyst

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Bitcoin is eyeing a breakout towards $12,000, according to crypto-chart analyst Josh Rager. The analogy appears out of Ethereum’s latest upside move from a consolidation range. Mr. Rager sees Bitcoin repeating the same bullish action as it trades inside a similar sideways pattern. Bitcoin is at the cusp of hitting $12,000 in the coming sessions, according to an inter-coin fractal shared by Josh Rager. The market analyst noted that Bitcoin is almost mirroring the recent price moves of Ethereum, the second-largest cryptocurrency by market cap. Earlier yesterday, the ETH/USD exchange…

Noncustodial Technology and Security Is the Inevitable Future

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In an increasingly digital world, security is a high-stakes game. The identities of customers along with their privacy and financial information are all in the hands of centralized security systems. We are reliant on these systems, and even though security plays a critical role in our lives, we rarely stop to think about the consequences of these systems failing us. Yet those who trade financial assets like cryptocurrencies think about these consequences all the time. Why? The risk of violations of our financial sovereignty coupled with the potential of theft…

Bitcoin Trading Is Booming in Uncertain Russia, With 350% Spike in New Users on Paxful

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Bitcoin trading is growing in Russia. That’s despite attempts by the government to make it difficult for investors to do so. For years, Russian lawmakers have blown hot and cold over cryptocurrency regulation, creating an atmosphere that has often left the entire digital asset industry in the country on tenterhooks. According to Paxful, Russian users joining the peer-to-peer bitcoin (BTC) exchange have increased by 350% over the last 12 months. New registrations have swelled to record highs month-on-month since the new coronavirus outbreak in March. The exchange said it is…

Elrond Launches Mainnet with New App and Changes to ERD Token Model

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Maiar will provide lending, staking, payments, and fiat capability, packed into a consumer-friendly app that showcases Elrond’s capabilities. Elrond’s mainnet has launched in a blaze of glory and wave of publicity. The DPoS chain, whose high throughput is achieved by sharding, will compete with smart contract networks such as Ethereum, and has significant community support behind it. Crucially, it’s also got the first signs of development, having launched its first app on day one which, in keeping with the defining theme of 2020, is all about defi. Maiar will provide…

9 Interesting Facts About Blockchain Technology That Everyone Should Know

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Crypto Block Concept was first invented in 1991 by the two scientists – Stuart Haber and W.Scott Stornetta. The idea was based on the need for tamper-proof documents and ledgers. The idea may have been around for ages, but its actual implementation of blockchain – commonly called blockchain was introduced in the year 2008. After a year, Bitcoin has become the first cryptocurrency. Blockchain is not a new concept, but the idea continues to grow in terms of development and application. In recent years, the market for blockchain technology has…

Unexpected Factor That Suppressed Bitcoin Bulls in 2019 Is Now Gone

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If you’ve been involved in the Bitcoin market over the past year, you know of PlusToken. PlusToken was a Ponzi scheme with a focus on the Asian cryptocurrency space that was active in 2019. In offering depositors of Bitcoin, Ethereum, EOS and other cryptocurrencies high levels of interest, the operators of the scam managed to garner billions worth of assets. Per some reports, the scam held upwards of $3 billion worth of largely BTC and ETH at its peak. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin,…

Ether Rockets 50% in 5-Year Anniversary Month: What’s Behind the Rally?

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The price of Ethereum’s Ether token has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase. It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol. There appear to be two key factors fueling the rally of ETH. First, the anticipation of the market towards ETH 2.0 has been continuously building. Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum. ETH/USD surges from $225.5 to $340 from…

Binance’s Trust Wallet Hits 5M Users, Expands DeFi Services

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Crypto giant Binance acquired Trust Wallet two years ago today. In that short space of time, the service has managed to amount 5 million users, and it is now expanding into the burgeoning DeFi sector. In addition to the five million user milestone, Trust Wallet claims that 10% of this rapidly acquired user base is now accessing a wide range of DApps and DeFi platforms. It plans to aggressively expand into the sector as crypto investors seek liquidity farming earning opportunities. Delving into DeFi In a move to keep pace…