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Coinbase, Kraken Join Major Exchanges Supporting Ethereum Constantinople Hard Fork

Two major crypto platforms join the likes of Binance and Huobi in pledging to proactively monitor this week’s Ethereum update. Major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s (ETH) Constantinople hard fork, both announcing on Twitter, Jan. 14. The two major exchanges join Binance, Huobi and OKEx in pledging to monitor the event, which will trigger at Ethereum block height 7,080,000, expected this week. “Coinbase intends to fully support the Constantinople Ethereum (ETH) upgrade,” staff wrote in the post, adding: “Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm security of the network.” In a tweet, Kraken also confirmed it would support Constantinople, officials adding they “expect this will be a non-contentious fork” and will not spark competing ETH chains, as happe..

Hackers Turn Twitter of Belgian Non-Profit Into Fake Coinbase Promo Account

The Twitter account of a Belgian non-profit was evidently breached and made to imitate Coinbase and advertise a Bitcoin giveaway scam. The Twitter account of a Belgian non-profit was evidently hacked and made into a fake affiliate account of United States crypto exchange Coinbase. The impersonating account posted what what appeared to be a scam giveaway promotion, allegedly celebrating Coinbase's user base growth in a tweet today, Jan. 9, that has since been deleted. Scammers had targeted the account of the Federation of Enterprises in Belgium (FEB), a non-profit organization that aims to promote the interests of Belgian businesses. After taking control of the FEB’s Twitter account, the scammers transformed the account to appear to be affiliated with Coinbase. The account’s description read “Official Coinbase Promotion Account,” and its profile and cover photos featured Coinbase branding, as well as a link to Coinbase’s official site. The scammers were unable to change the Twitt..

Coinbase: Ethereum Classic Double Spending Involved More Than $1.1 Million in...

Coinbase has increased the amount of ETC that was allegedly double spent following a 51 percent attack. A deep reorganization of the Ethereum Classic (ETC) blockchain, which reportedly included double spending, has involved more than $1.1 million worth of crypto, United States crypto exchange Coinbase revealed Monday, Jan. 7. According to the Coinbase blog, the team first detected eight reorganizations that included double spends, totaling 88,500 ETC (approximately $460,000). Later, the exchange informed the public in an update that there were 12 additional reorganizations, totaling 219,500 ETC (around $1.1 million). It was not immediately clear whether Coinbase has increased the number of previously detected attacks to 12, or whether there were 20 attacks in total. If they meant the latter, the amount of ETC that has been double spent could equal up to $1.5 million. As Cointelegraph previously wrote, Coinbase detected the ETC blockchain reorganization on Saturday, Jan. 5, and indicat..

ETC Trading Suspended On Coinbase Following Attack On Blockchain By Bad...

This morning, smartereum.com reported that the Ethereum Classic network was under a 51% attack. To protect its investors, Coinbase has stopped all deposits and withdrawals of Ethereum Classic (ETC). Reports from BlockScout and Bitfly show that over 100 blocks were reorganized on the Ethereum Classic network on Sunday. Coinbase announced that it noticed a double spend of 88,500 ETC. At current rates, this amounts to about $460,000. Ethereum Classic (ETC) Open To Potential 51% Attack On Monday, Coinness reported that one of its in-house analysts detected an abnormal hash rate on the Ethereum Classic network. There was abnormal activity going into a single mining pool. This was what caused a reorganization of already mined blocks even if the proponents of ETC initially refuted the attack, they eventually took to their official Twitter handle to affirm that there was indeed cause for concern on the blockchain. The post was as follows: “Currently, we are working with SlowMist and some othe..

Gab Turns to Square’s Cash App After Coinbase Allegedly Froze Its...

Controversial social media site Gab is reportedly now using the Cash App from payments firm Square to transact and receive Bitcoin donations. Controversial social media site Gab is reportedly now using the Cash App from United States-based payments firm Square to transact and receive Bitcoin (BTC) donations. The company’s official Twitter posted the announcement Jan. 6. Founded in 2016, Gab is a social network which presents itself as a haven for uncensored speech online. It has risen to notoriety due to a perception that it serves as an “echo chamber” for “extremist,” alt- or far-right views — many of whose proponents have allegedly been banned from networks such as Twitter and Facebook on the grounds of their alleged violations of these platforms’ rules on hate speech. More broadly, Gab targets a user base of libertarian, nationalist, populist or conservative leanings — or anyone who dissents from the content filtration, anti-disinformation, and data harvesting measures enforced by ..

Coinbase Reportedly Bans Personal Account of Social Media Platform Gab Founder

The Coinbase merchant account of social media platform Gab’s founder Andrew Torba has been reportedly closed. The personal Coinbase merchant account of Andrew Torba, social media platform Gab’s founder, has been terminated, the official Gab.com account tweeted on Jan. 4. As blockchain blog Breaker reported earlier, Gab’s business account on Coinbase was allegedly closed in December. The news source put forward that a possible reason why it is hard for Gab to obtain a payment processor is its reputation for being the social network for people banned from mainstream platforms for hate speech. In October, the New York Times mentioned Gab as a social network used by the shooter in Pittsburgh to post a final message before he attacked a synagogue. After the shooting, Torba stated that the Pittsburgh shooter did not represent the broader user base of the social media site. Gab describes itself on its website as a “social network that champions free speech, individual liberty and the free fl..

‘Bitcoin Is My First Love’: Coinbase CEO Champions Top Coin on...

Co-founder of U.S. crypto exchange Coinbase Brian Armstrong confesses that Bitcoin is his first love and that the “full promise of Bitcoin is still yet to be realized.” Brian Armstrong, founder and CEO of United States cryptocurrency exchange Coinbase, has confessed that “Bitcoin is my first love” in a series of tweets commemorating the coin’s 10th birthday, Jan. 3. Summing up a thread in which he explained how he entered the industry and built one of its most successful firms, Armstrong wrote: “Bitcoin is one of the most important inventions of all time and has launched a global movement. It's awesome to see an entire ecosystem spring up around it, but Bitcoin is my first love.” Armstrong pointed out that Bitcoin is still the most popular asset both for new Coinbase customers and long-time hodlers. The firm’s CEO also tweeted about cryptocurrency’s future potential. As per Armstrong, the industry is only starting to develop: “I believe we’re still at the beginning. The white pap..

Coinbase Exec Joins Stablecoin Issuer TrueUSD as Head of Compliance

A former senior employee at U.S. crypto exchange Coinbase has left the industry giant to join stablecoin issuer TrustToken as head of compliance. A former senior employee at United States crypto exchange Coinbase has left the industry giant to join stablecoin issuer TrustToken as head of compliance, according to the company’s official website Jan. 4. Vaishali Mehta, whose LinkedIn profile indicates she served just over a year as senior compliance manager at the major San Francisco-based exchange, reportedly joined TrustToken in December 2018. Trust Token is the issuer of TrueUSD (TUSD), which has been listed on top crypto exchange Binance as of last May. The listing makes it a relatively early entrant amid the increasing number of new stablecoins notionally pegged 1:1 to the United States dollar — all of which are vying to compete with stalwart market leader Tether (USDT). Mehta’s LinkedIn profile further details her background as head of BSA/AML (Bank Secrecy Act/anti-money launderin..

Coinbase CEO First Crypto Entrepreneur to Join Buffet-Founded Billionaire Charity Pledge

CEO Brian Armstrong is the first crypto entrepreneur to join billionaire-backed charity program The Giving Pledge. Coinbase CEO Brian Armstrong has become the first crypto entrepreneur to join billionaire-backed charity program The Giving Pledge, CNBC reports Friday, Dec. 21. Founded by moguls Bill Gates and Warren Buffett, the Giving Pledge campaign is now for the first time supported by a representative of the crypto industry, with Armstrong joining more than 180 pledgers including Elon Musk, Ray Dalio, Bill Ackman and Michael Bloomberg. Aiming to inspire wealthy people all over the world to give at least half of their net assets to philanthropic causes, The Giving Pledge was established in 2010. In 2018, the pledge has amassed $365 billion in donations with signatories from 22 countries. The campaigns mainly attracts billionaires, and does not obligate its entrants to actually donate any money, according to Wikipedia. In his pledge, the Coinbase CEO wrote that following his “crazy ..

Coinbase Moves $5 Billion, Reports Largest Crypto Transfer on Record

Coinbase recently made what it claims is the biggest cryptocurrency transfer on record, moving about $5 billion. Major cryptocurrency exchange and wallet Coinbase recently made what it claims is the largest transfer of crypto on record, a company blog post reports Dec. 19. According to the post, 5 percent of all Bitcoin (BTC), 8 percent of all Ethereum (ETH), and 25 percent of all Litecoin (LTC), along with “many other assets” were moved to new cold storage infrastructure in what the firm “believe[s] is the largest crypto migration on record.” Coinbase reports that last week, the firm “completed an on-blockchain migration of approximately $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Generation Three to Generation Four of our cold storage infrastructure.” The latest storage system — which the company reportedly uses for all its cold storage — begins with a “highly controlled and audited key generation process and continue[s] with a globally distributed key..
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