In today’s edition of Crypto Daily News, we’ll cover Coinbase adding the British Pound to its trading pairs and John McAfee’s “unhackable” Bitcoin wallet that gets, well, hacked.
Crypto Daily News: August 2nd, 2018
Coinbase Supports the Pound
Starting today, Coinbase customers in the UK will be able to seamlessly move GBP in and out of their accounts using the Faster Payments service. In most cases, this will mean almost instant access to funds. ??https://t.co/67DMjc6y89
— Coinbase (@coinbase) August 1, 2018
Coinbase, the most popular cryptocurrency exchange in the US just announced that it will support the GBP (the British pound) on its platform. This is big news for the company, as it faced serious complications last year when it couldn’t keep up with the growth of the cryptocurrency market during its peak.
This is the biggest news the company has leaked since it announced it will be adding new coins to its platform soon.
Coinbase GBP support is now live for many customers and we will continue rolling out availability to all UK customers in the coming weeks. ?
— Coinbase (@coinbase) August 1, 2018
Now, crypto investors in the UK can use Coinbase’s easy-to-use platform to buy, sell, and trade digital assets.
What Happened McAfee?
Recently, the crypto enthusiast John McAfee claimed that he had created an unhackable cryptocurrency wallet and, to prove his point, started a bounty challenge to devs to try and hack the wallet.
Well, the wallet has been hacked, but the debate isn’t over.
This is getting absurd. Either something’s ‘unhackable’ or it’s not. Clearly, as evidenced many times over, the Bifi is not. You can not fix this. You instigated it with a bounty. You literally challenged people to hack it. And they did. Competitors or not, makes no difference.
— Henry Carless (@henrycarless1) August 2, 2018
It seems that the wallet is hackable, but McAfee’s debate is that the hackers can’t take the money from the wallet—which is mostly everyone’s primary concern when it comes to wallet hacks.
I’m no security expert, but surely sending unencrypted data from touch screen to circuit board presents an opportunity for a middleman hardware exploit; does it not? If not, then why present a second, smaller bounty for that exact issue?
— Henry Carless (@henrycarless1) August 2, 2018
McAfee still won’t let it go and followed that tweet with his own.
Hackers saying they have gained root access to the BitFi wallet. Well whoop-de-do! So what? Root acces to a device with no write or modify capability. That’s as useless as a dentist license un a nuclear power plant. Can you get the money on the wallet? No. That’s what matters.
— John McAfee (@officialmcafee) August 2, 2018
If a user could hack into your wallet, but couldn’t take your funds, would you still trust it?
And that does it for today’s edition of Crypto Daily News.
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