Monthly Archives: November 2020

Cybercriminals attack GoDaddy-based cryptocurrency platforms

The attackers used social engineering to defraud the GoDaddy staff. Yesterday, security researcher KrebsOnSecurity reported that several cryptocurrency platforms hosted by popular hosting provider Godaddy have been attacked over the past week. According to KrebsOnSecurity, the attacks began on or around November 13th on cryptocurrency trading platform liquid.com. Liquid CEO Mike Kayamori said GoDaddy incorrectly transferred control of the account and domain to a malicious actor. Kayamori added that the move allowed a malicious actor to change DNS records and thus, take control of a number of […]

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The word ‘decentralized’ has lost all meaning — Enough is enough

The concept of decentralization isn’t being given the respect it deserves — and change is needed. Decentralization: It’s a word that holds so much power and promise. But over the years, it’s become painfully clear that this concept isn’t being given the respect it deserves — and the consequences can be downright dangerous. We live in a world where DAOs aren’t DAOs, where independent validators aren’t independent, and where PR departments breezily gloss over the fact that some blockchain projects are far more centralized than they may […]

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Bretton Woods 2.0 is knocking at our door, and it’s not here to help

A second Bretton Woods era will be even more centralized and even further from a true democracy. Barely 100 years ago at the start of the 20th century, people were able to exchange dollars for gold at their local bank. While gold was too hard to trade between people, banking institutions held gold and gave people cash for it. This was during what was known as the gold standard. Each sovereign currency’s value was determined relative to a fixed amount of gold. However, in the decades ahead, […]

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DeFi-ing expectations: Great opportunities in crypto can come at a price

A record-breaking year for DeFi, but can it break away from the negative perceptions around yield farming and pump-and-dump schemes? While 2020 will go down as one of the toughest the world has faced collectively in many years, the success of the decentralized finance sector stands out as a major milestone for the cryptocurrency community. Amid the ongoing COVID-19 pandemic, economies have shuddered, and governments and financial institutions have had to introduce drastic monetary policies and stimulus packages in order to revive the global marketplace. As a […]

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Bitcoin price dips below $18K — Time to watch these ‘whale cluster’ support zones

Bitcoin price has lost the $18,000 support level but several whale clusters below suggest that the dip will get aggressively bought up. Bitcoin (BTC) price dropped below the $18,000 support level on Nov. 22. This comes after BTC continuously saw high over-the-counter (OTC) and institutional volume throughout November. BTC/USD 1-hour chart. Source: Tradingview Data suggests that the growing institutional demand was likely one of the main catalysts behind the BTC price rally to $18,965. According to the data from Skew, Grayscale Bitcoin Trust’s volume on OTC Markets […]

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Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $30 Million

An African company backed by Amazon CEO Jeff Bezos, Chipper Cash, has raised $30 million and is launching a cryptocurrency trading service due to high demand for cryptocurrencies, including bitcoin. Users of Chipper Cash will be able to buy and sell cryptocurrencies as well as U.S. stocks, such as Tesla, Apple, and Amazon, through the app. Jeff Bezos-Backed Chipper Cash to Begin Offering Crypto Trading African cross-border payments startup Chipper Cash has raised $30 million in a Series B funding round. It was led by venture capital […]

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Multiparty computation: The Trojan Horse of crypto regulation

MPC is a regulated, fee-centric model that is almost an exact replica of today’s banking system. Every once in a while, the crypto community crowns a new king for secure transactions, and the latest king seems to be multiparty computation, or MPC. This year, MPC adoption by custodial and noncustodial players has progressed and gained market traction at a rapid pace. However, it could come at a price. MPC providers offer regulators a backdoor into cryptocurrency transactions. As the industry becomes more reliant on MPC for security, […]

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USDT Towers Over 30 Stablecoins- Tether’s Market Cap Grew by 2 Million Percent in Just Four Years

During the last two years since the initial bear market after the 2017 bull run, stablecoins have been extremely popular. Today, statistics show that the market capitalization of all the notable stablecoins today is hovering above the $23.9 billion mark. Out of more than 30 stablecoins in 2020, tether is still a behemoth capturing 76.15% of the entire market share. Since January 2016, the stablecoin tether’s market valuation has grown a whopping 1.9 million percent from $951k to $18.5 billion. Tether’s Market Cap Jumps from a Million […]

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Wallex: The Rainbow in The European Grey Zone

The evolution of new digital technologies has created a new shift in the value proposition for financial products and services. Digital asset management based on distributed ledger technology has opened the gates to financial institutions and regulators, with the aim of disrupting this new wave. Nevertheless, it has also opened the door for the creation of fresh and innovative opportunities and ways of conducting business. Who Is Wallex? Amidst the beginning of the technological wave, Simone Mazzuca found a missing piece in the grey zone in digital […]

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Silk Road Bitcoin Seizure: Analytics Firm Claims Tokens Worth Millions Still Outstanding

Analytics firm Coinfirm says the US Department of Justice (DOJ)’s seizure of digital assets associated with the now-defunct Silk Road left behind tokens worth millions of dollars. According to Coinfirm, there are still valuable balances held on forked addresses originating from that wallet. On November 5, the DOJ announced that a hacker known as Individual X had cooperated with law enforcement and agreed to relinquish control of over $1 billion worth of bitcoins. At the time of the seizure of the 69,370 BTC, news.Bitcoin.com reported the DOJ […]

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