Monthly Archives: August 2020

Big Travel Firm CWT Pays $4.5 Million Bitcoin Ransom to Hackers

CWT, one of the biggest travel companies in the U.S., this week paid $4.5 million in bitcoin to hackers who infiltrated the firm’s computer system, stealing sensitive corporate data. It is unclear whether customer information was also compromised. Reuters reported that the bitcoin wallet owned by the cyber thieves received 414 BTC on July 28 as payment for the ransom. At current prices, the ransom would be worth more than $4.8 million. According to the report, the attackers infected CWT’s computer network with a ransomware called Ragnar […]

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Cryptojacking Attacks Are Seriously Underestimated, Says BlackBerry VP

BlackBerry exec believes that many businesses don’t have a great visibility about the combination of crypto mining apps with malware. Cryptojacking attacks are both an internal and external threat, as the hacking groups are getting more organized in attempts to exploit vulnerabilities in the networks. However, there are also cases where some admins use valid entitlements to make money from illegally mining crypto using the firm’s network resources, and many organizations “don’t have great visibilityâ€� about it, says Josh Lemos, VP of research and intelligence at BlackBerry. […]

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Major Chinese Banks Bar Customers From Buying Gold, Precious Metals

Major Chinese banks have taken measures to prevent customers from buying gold, platinum, palladium, and other precious metal-related products through them. The Shanghai Gold Exchange also says it may take necessary measures to curb gold trading to “protect investors.” Chinese Banks and Regulators to ‘Cool Gold Rush’ Chinese regulators and major banks are taking measures to curb the trading of gold and other precious metals by investors in order “to cool [the] gold rush,” Reuters reported Wednesday. Gold prices hit record highs this week as investors look […]

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Decentralized Exchanges Are Building a Life Raft but Need a Bridge

Despite the significant growth of decentralized crypto exchanges, their centralized counterparts still control the majority of industry trade volume. Recently, crypto traders have shown a lot of enthusiasm for decentralized exchanges, or DEXs. The enthusiasm is warranted. We’re starting to see the fruits of many years of hard work pay off with DEX trading volume and use increasing every day.  In spite of this growth, the vast majority of crypto trading still takes place on centralized exchanges. DEXs offer a clear set of benefits in terms of […]

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Single Miner Reorgs Ethereum Classic – Devs Report a Chain Split

Members of the Ethereum Classic team reported that the network suffered a reorganization (reorg) today. The blockchain network is asking service providers to halt deposits while it carries out maintenance of the chain. The latest event follows a similar attack in January 2019, which led to some exchanges taking pre-emptive action. Both Ethereum Classic (ETC) and one of the founders have since put out a statement acknowledging this event which they term a chain split. ETC suffered a reorganization (reorg) of approximately 3,693 ETC blocks which occurred […]

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Bitcoin Reddit Roundup – July 2020

Welcome to the second edition of Reddit Roundup by Nik and Flip of Bitcoin Magazine! This roundup contains 45 links to the best quality content that was uploaded to Bitcoin Reddit this month. Most links come from the popular r/bitcoin, but we also retrieved posts from other forums as well, such as r/BitcoinMining. In this roundup there are 10 different categories of links: Privacy, Adoption, Development, Security, Mining, Business, Education, Regulation & Politics, Archaeology (Financial Incumbents) and, last but not least, Memes, Fun, And Other. Big shoutout […]

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Bitcoin ‘Fills’ $11.6K Futures Gap, But Is $10K More Likely Than $15K?

Bitcoin has seen a surprise Saturday surge to a 12-month high as $15,000 becomes a real possibility in the near term. The price of Bitcoin (BTC) has seen a great week with a surge to $11,700. After two months of consolidating inside a range, the price of Bitcoin finally broke through the psychological barrier of $10,000 and currently faces the final hurdle before the bull market can start.  Most often, people become bullish once they see green candles, with which extraordinary targets can be found on social […]

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Bitcoin Futures Traders Bet on Bullish Price Action, but Not Too Fast

Bitcoin futures open interest is currently at an all-time high as traders expect more upside for BTC’s spot price. Bitcoin (BTC) futures trading has been on a high since July 21 with both the Chicago Mercantile Exchange and Bakkt seeing sizeable increases in volume and open interest for their contracts. This resurgence in BTC futures comes as the spot market value of the largest crypto by market capitalization reached a new 2020 high. Two months on from the May 2020 halving event, BTC has begun to show […]

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Bitcoin Now ‘Perfectly on Track’ to $100K, Says Stock to Flow Creator

The price of Bitcoin surpassed $11,700, and the creator of the Stock to Flow model says BTC to $100,000 is well on track. PlanB, the well-known creator of the contested stock-to-flow (S2F) model, believes Bitcoin (BTC) is now well on track to reach $100,000 as the price has risen to yearly highs. The optimistic sentiment coincides with the shift in momentum from alternative cryptocurrencies, or altcoins, to BTC. He said: “I can’t make a chart for you now (at sea), but S2F model perfectly on track.â€� At […]

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Ethereum Classic Blockchain Splits Due to Reorg by a Single Miner

Ethereum classic was attacked? ETC network briefly goes down for maintenance, diagnosis report explains what happened. On August 1, several figures associated with Ethereum Classic (ETC) took to Twitter to inform the community of issues with the ETC blockchain. Among the first was Ethereum Foundation member Hudson Jameson who stated that: “Exchanges need to pause deposits and withdrawals.â€� The official Twitter page of ETC and James Wo, founder of Ethereum Classic Labs, both confirmed the issue. A Diagnosis report was soon released to explain what happened. Although […]

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