In the world of cryptocurrencies, people tend to take unnecessary risks. Especially when it comes to obtaining and storing said cryptocurrencies, there is no reason whatsoever to look for shortcuts or save a few dollars. One Reddit user found this out the hard way. He purchased a malicious hardware wallet from eBay, which allowed the assailant to empty his crypto balances in quick succession. Close to US$30,000 worth of funds were stolen, and the chances of recovering them are slim to none. Beware of Hardware Wallets on eBay There is a very good reason why no one should buy anything cryptocurrency-related from auction platforms suchPowered by WPeMatico
Well, that just happened. What happened? Let’s see: crypto penny stocks mooning. Centralized banking coins mooning. Long forgotten alt bags and even abandoned projects languishing on Cryptopia mooning. Basically everything that wasn’t bitcoin mooning, bringing with it a new wave of zealots and maximalists, convinced that their coin is The One True Coin to lead […]
Earlier this week, the Bitcoin Cash community woke up to a rather nasty and unexpected surprise. Someone – or a group of people – had successfully compromised Reddit’s email provider. As a result, the assailant(s) managed to obtain an unspecified amount of Bitcoin Cash from multiple Reddit accounts. These balances were associated with the Bitcoin Cash tip bot, which has become rather popular over the past few weeks. More information regarding this incident came to light over the weekend. Reddit Hack Impacts Bitcoin Cash Tips It is never good to see the Reddit platform be affected by a major hack. Unlike what most
The government of Vietnam has taken steps to accelerate the adoption of cryptocurrency regulation that will affect Bitcoin. The executive power in Hanoi has insisted that the framework should be ready by the end of January. Amendments to the tax code are expected to help tap into proceeds from “virtual property and digital money”. Also […]
Bitcoin transaction analysis has become an interesting topic of debate over the past few months. Although most governments claim Bitcoin to be anonymous, most people know that is anything but the case. Bitcoin lacks privacy, anonymity, and fungibility. BitFury Group has come up with a new way to analyze related Bitcoin addresses. Whether or not it will bring criminal activity to an end remains to be seen. Tracking Down Criminals Using Bitcoin If there is one major downside to the use of Bitcoin, it is that it will always be associated with criminal activity. Although it is true that the darknet adoption
The South Korean authorities will start inspecting major banks for their compliance with cryptocurrency regulations on Monday. This move follows the regulators’ recent announcement prohibiting the use of virtual bank accounts for anonymous trading. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Inspecting 6 Major Banks The South Korean Financial […]
The Tether company has quickly made an impact in the world of cryptocurrencies. Although there are some concerns about the company and its liquidity, it is moving ahead in an effort to expand its presence. Its latest venture involves using both USDT and EURT on top of the Ethereum blockchain. It is a pretty interesting development, considering that both of these currencies are compatible with the ERC20 token standard. Ethereum-based EURT and USDT Have Arrived It is always interesting to see how companies deal with the concept of fiat-backed stablecoins. Although Tether has built up a rather solid reputation in this regard, there are still people who
Late last year, the United States Federal Communications Commission voted 3-2 in favor of dismantling Obama-era regulations that prohibited ISPs from privileging content. This was a huge defeat for internet rights activists and consumers everywhere. However, while the case seems shut to many, there is still a resistance ongoing – with some rather large companies in its ranks. Netflix tweets litigative threats at the FCC While I find it truly amazing that our world today has tech giants, government agencies, and influential people all duking it out 280 characters at a time, a tweet from Netflix demonstrates just how willing the
When you are dealing with platforms that are supposed to be the on-ramps to the money of the future it’s hard to accept worse performance than the systems of the past. Unfortunately, this an issue plaguing all major cryptocurrency exchanges at the moment with Coinbase being one of the leading examples right now. Also Read: […]