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Europol Arrests Six People Allegedly Behind $27 Million Bitcoin Theft

Europol arrests 6 unnamed individuals in the U.K. and the Netherlands under suspicion of involvement in a multimillion-dollar crypto theft. Europol, in conjunction with the United Kingdom’s South West Regional Cyber Crime Unit, the Dutch police, Eurojust, and the U.K.’s National Crime Agency (NCA), has coordinated the arrests of six people suspected of stealing over $27 million in cryptocurrency, according to a press release on June 25. The attackers reportedly were involved in typosquatting, a fraudulent means to steal credentials by setting up a scam website with a similar name to an established one—hence the “typo” in “typosquatting”—and then recording login data. In this case, the report notes that Europol believes the hackers were able to use typosquatting to steal login details, letting them gain access to client wallets and the funds inside. Europol reports that the hackers used this scheme to steal from at least 4,000 bitcoin (BTC) users in 12 different countries. The six ind..

Facebook’s Libra Isn’t Behind The Sudden Surge Of BTC Above $11k?...

Bitcoin news today – The fourth parabolic bull run of Bitcoin is no longer news. Mainstream media has been talking about how the price of Bitcoin suddenly surged against the USD reaching a 15-month high and carrying altcoins along. In our Bitcoin news and Bitcoin price prediction yesterday, we talked about the comment from one Forbes contributor who insisted that the rise in the price of BTC was partly due to the release of the Facebook Libra token and the regulators in India who are trying to place a blanket ban on cryptocurrencies. Well, another analyst has suggested that the Facebook should not be credited for the sudden cryptocurrency market bull run. If Libra was not responsible for a surge in the price of Bitcoin, what was? Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Latest Update – What Triggered The Bitcoin Bull Run? According to a cryptocurrency price analyst on Livemint, Mark Zuckerberg should not get all the credit for the cryptocurrency bull run. You see t..

Firm Behind Zcash to Introduce New Version of Protocol With Sharding

The Electric Coin Company, the firm behind second-biggest anoncoin zcash, is building a new scalable zcash blockchain. The Electric Coin Company (ECC), the firm behind second-biggest anoncoin zcash (ZEC), intends to build a new scalable zcash blockchain, cryptocurrency news outlet Forklog reports on June 22. Per the report, chief engineer at ECC Nathan Wilcox said that the firm should “make Zcash usable by 10 billion people by 2050” if it can. Still, Decrypt notes that achieving this would require zcash’s blockchain to be able to manage thousands — or millions — of transactions per second. Forklog states that ECC is considering implementing sharding, a scalability solution that Ethereum devs also plan to integrate into that network in the near future. Still, ECC engineer and product designer Daira Hopwood noted that, to obtain the desired features, ZEC would need a completely new blockchain. The firm would ensure that coins would be transferred onto the new chain, resulting in a conse..

Circle and Coinbase Invite More Members to Consortium Behind US Dollar...

Following Circle’s USD Coin launch in late 2018, the firm decided to expand its Centre consortium to more members. Goldman Sachs-backed crypto startup Circle and crypto exchange and wallet service Coinbase are expanding their consortium behind USD coin (USDC), according to a blog post on June 13. The Centre consortium acts as a platform for deposits and fiat conversions for Circle’s own cryptocurrency, a United States dollar-backed digital token. Having launched USD coin back in September 2018, Circle has now announced that Centre is opening up for more members and industry participation. In the post, Centre wrote that Circle and Coinbase have been working to create and establish its Centre Network as a “membership-based framework and governance scheme.” Inviting more participants to join its network, Centre wrote that the consortium membership provides institutions with the right to issue or redeem USD coin. In order to obtain this right, members must agree to Centre’s operating rule..

Blockchains Acquires Development Firm Behind ‘The DAO’ Project

Blockchains, LLC, has acquired slock.it, a small blockchain development team that created The DAO. United States-based blockchain incubator and investment firm Blockchains, LLC, has acquired the German Ethereum dev team slock.it, according to a press release on June 3. Slock.it’s team is reportedly around three dozen large, and is known for its creation of the now-defunct decentralized autonomous organization (DAO) project “The DAO.” Co-founders and brothers Christoph and Simon Jentzsch will reportedly join Blockchains as VP of technology and director of blockchain development, respectively. During the first few months of the acquisition, the newly-linked organizations will reportedly ship a line of open-source tools for Ethereum developers. As per the organizations’ acquisition agreement, teams will reportedly work together on existing projects, such as Blockchains’ digital asset custody product and slock.it’s “Incubed,” which purports to connect Internet of Things (IoT) devices with..

Company Behind Fortnite Epic Games Partners With Blockchain Gaming Platform The...

Epic Games, the company that developed successful video game Fortnite, partnered with blockchain gaming platform The Abyss. Epic Games, the company that developed successful videogame Fortnite, announced that it has partnered with blockchain game distribution platform The Abyss in a press release shared with Cointelegraph on May 23. The press release notes that the partnership will allow developers on the platform access to the Unreal Developers Network. Epic’s Unreal Engine requires developers to make quarterly payments equivalent to 5% of their returns, once they earned over $3,000. The engine is often employed by so-called triple-A or blockbuster games, and is known for being one of the engines capable of providing the most advanced graphics. An Epic Games spokesperson commented on the partnership in an email sent to Cointelegraph: “The program is aimed at attracting more gaming studios and titles to The Abyss platform, as well as supporting Unreal Engine developers in cryptocur..

Worsening US-China Trade War Is Behind BTC Price Rise, Digital Currency...

Barry Silbert claims the recent rise in BTC prices could be linked to the breakdown in trade talks between the US and China. The CEO of a cryptocurrency firm has suggested that the recent rise in bitcoin’s (BTC) price could be linked to the trade war between China and the United States, Fortune reported on May 20. In an interview, Digital Currency Group founder Barry Silbert noted how BTC’s acceleration coincided with talks breaking down between Beijing and Washington. The crypto advocate said bitcoin is proving itself to be a safe haven for investors at times of drama in the global economy — and cited other examples where BTC’s value rose as traditional stock markets took a tumble. Silbert added: “If you look at over the past five years — when Brexit happened, Bitcoin went up. When Grexit happened, Bitcoin went up.” However, given the volatility that the crypto markets have experienced over the past two years, the executive acknowledged that there would have been instances when BTC p..

SEC May Be Behind The Latest Cryptocurrency Price Pull Back As...

The United States Securities and Exchange Commission has always had its eyes on initially coin offerings hosted on blockchains. This is because they are dedicated to protecting the average investors from making wrong investment decisions and charged with regulating companies that create these tokens. Ever since the 2017/2018 cryptocurrency bull run, the attention the SEC gave to the industry intensified because there were many scam ICOs that rubbed people of their hard earned money at the time. Towards the end of last year, Jay Clayton, the chairperson of the SEC, said that one of the priorities for this year would involve looking into the cryptocurrency industry. Now, it seems like they are fulfilling their promise and this may be responsible for the recent market correction. Bitcoin Bull Run – Cryptocurrency News Today – U. S Securities and Exchange Commission Comes For ICOs Forcing Exchanges To Delist Over the last few weeks, the price of Bitcoin has been surging against the USD al..

DAO Behind DAI Stablecoin MakerDAO Announces Critical Vulnerability in Voting Contract

The Decentralized Autonomous Organization behind the DAI stablecoin announced a critical security update to its governance contract. MakerDAO, the Decentralized Autonomous Organization (DAO) behind the DAI stablecoin, announced a critical security update to its governance contract in a Reddit thread published on May 6. Per the announcement, during the second round of security audits part of the DAO’s partnership with crypto exchange Coinbase and smart contract security startup Zeppelin, a critical vulnerability had been discovered in the governance smart contract. Zeppelin also released an independent critical vulnerability notice. While the announcement claims that the tokens of users who have staked MKR tokens in the contract are not in danger, it also advises users to move them. Still, no action is required from users who are not in control of one of the ~190 addresses who have staked MKR in the current voting contract. A website with instructions has been created to help users wit..

Single Address Behind More Than 50% of Bitcoin Cash Transactions: Report

The mystery account has made more than 587,000 transactions since it became operational on April 8. A single address has been responsible for more than half of the bitcoin cash (BCH) transactions in the past month, according to a tweet by @IamNomad on May 5. According to the Bitcoin Cash Block Explorer, the mystery account has made more than 587,000 transactions since it became operational on April 8 of this year. Many of the transactions are for fractional amounts of BCH and they are made with regularity, with three to four new transactions emerging per second. Overall, the address has received $22,763.06 (80.981 BCH) at press time and has sent $21,546 (76.654 BCH), leaving it with a balance of $1,216.36 (4.327 BCH). Over this period of the account’s creation to press time, the whole bitcoin cash blockchain has processed 1.17 million transactions — about half coming from the aforementioned wallet. The frequency of transactions could suggest that someone is attempting to drive up the ..
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