Monthly Archives: June 2020

Chinese Stakeholders Don’t Want to Share Their Personal Data With Government Run Blockchains

Chinese local governments hit a bump in the road with implementing blockchain applications because stakeholders don’t want to share their data. Chinese local governments are facing difficulties when implementing blockchain applications due to stakeholders unwillingness to share privately owned data, according to a local report on June 10. Data is king According to the investigation, there are more than 30 related local governments procuring blockchain technology. Their aim is to leverage blockchain to build management platforms that improve local administrative and social governance capabilities. Some of these […]

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Nightmare Come True: User Pays $2.6 Million in Transaction Fees to Send $134 of Ether

A record ethereum transaction fee has been paid today: $2.6 million to transfer $134. The user probably mixed up the fields on the value of the transfer and the fee, eventually paying 10,668 ETH in fees, or $2.6 million, on a transaction mined by Sparkpool. A nightmare come true, the customer sent 0.55 ether, worth $133.95, according to a record of transactions broadcast on the Ethereum (ETH) network. The money was sent to an address on the South Korean crypto exchange Bithumb. The funds may be lost […]

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Coinbase Unveils USDT Custody, Then Deletes Announcement

Coinbase’s institutional custody platform tweeted out a Tether (USDT) support unveiling, only to subsequently delete the tweet. Coinbase Custody, an international institutional cryptocurrency holdings arm of well-known U.S. exchange Coinbase, announced compatibility for stablecoin Tether (USDT), only to delete traces of the announcement shortly thereafter.  Coinbase Custody, as well as Tether CTO Paolo Ardoino, unveiled a USDT listing on the Coinbase platform in May 30 tweets, according to CoinDesk reporting on June 10. The tweets have since been deleted at some point between their posting and the […]

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3 Reasons Why Bitcoin Price Continues to Reject at $10,000

Bitcoin price rejected above $10,000 for the third time in a month, showing the multi-year resistance level remains a challenge for bulls to overcome. Within the last hour Bitcoin (BTC) price rose to $10,180 on BitMEX before quickly reversing to $9,600. The quick rejection means that for the third time in 30 days Bitcoin price has rejected at the $10,000 resistance level. Three factors that may have contributed to the volatility are: the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the liquidation of $14 million worth […]

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Price Analysis 6/10: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ

Institutional investors are showing greater interest in cryptocurrency and this could result in a sharp move within the next few days. About one-third of institutional investors surveyed by Fidelity said they have invested in digital assets. 25% of the survey participants said that they hold Bitcoin (BTC) and 11% confirmed that they hold Ether (ETH). While these are encouraging signs, the future looks even brighter as 91% of survey participants expect to hold at least 0.5% of their portfolio in crypto assets in the next five years. […]

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Bithumb Shares Insights on That $2.6M ETH Transaction

According to Bithumb, the Ether that paid a $2.5 million transaction fee ended up in its coffers. According to Bithumb, the 0.55 Ethers (ETH) that incurred a $2.6 million transaction fee ended up in one of the exchange’s wallets. Mistake or money laundering? Earlier today, someone paid 10,668.73 Ethers in gas to move $134 worth of the asset from one wallet to another. For comparison, today’s average gas price is $0.34. The most natural assumption is that the sender must have made a mistake. Though the sender […]

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CrossTower Joins the Crypto Rating Council

The Crypto Rating Council announced the addition of NY-based CrossTower as its newest member. Cryptocurrency exchange CrossTower is now part of the Crypto Rating Council, or CRC. They join as the council’s newest member, alongside 11 other industry companies. According to the announcement on June 10, the CRC were pleased to select the New York-based firm to join the group. Their existing membership includes Coinbase, Cumberland, Anchorage, and Genesis Global Trading. The CRC states that its mission is to provide a “more systematic” U.S. securities law analytical […]

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Filecoin Enters Final Frontier Prior to Mainnet

Filecoin revs up test net, hosting a competition prior to its mainnet unveiling. Blockchain-based decentralized data storage solution Filecoin unveiled its testnet recently, complete with a competition.  In an act of network experimentation, Filecoin’s test network will host a three week mining contest worldwide, with 4 million of the project’s FIL tokens up for grabs as prize funding, according to a June 10 statement provided to Cointelegraph.  Mainnet — the final frontier A product of tech firm Protocol Labs, Filecoin garnered $257 million during its 2017 Initial […]

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South Korean Merchants Open to Accepting Digital Yuan

An article published by Yonhap suggests that South Korean merchants are open to accepting digital yuan as a payment method in the near future.   South Korean media outlets suggest that local merchants could accept the upcoming digital yuan as a payment method once the COVID-19 pandemic passes, and Chinese tourist flow increases in the country. According to Yonhap news agency, domestic merchants have been increasingly considering taking advantage of China’s upcoming digital currency, citing some tourist shops in their examples. Taking advantage of Chinese tourism The […]

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Botnet Exploits SQL Servers to Install Crypto Mining App

Sophos revealed recent botnet attacks breach Microsoft SQL server databases to install a well-known Monero mining app. Recent reports revealed that a group of hackers behind the Kingminer botnet targeted vulnerable Microsoft SQL server databases to mine cryptocurrencies at some point in the second week of June. According to the cybersecurity firm Sophos, the attackers used the botnet, active since 2018, to exploit the BlueKeep and EternalBlue vulnerabilities, by also accessing through a trojan known as Gh0st, which relies on a remote access malware. Once the SQL […]

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