Estonian Authorities Leak Over 200 Email Addresses From Crypto Trading Companies

The authorities from Estonia have leaked the email addresses of over 200 crypto trading firms during a recent data breach. The Estonian Police and Board Guard recently started a plan to follow anti-money laundering activities in the country, so it emailed several companies in the country with questions that should be answered.

This email’s recipients were not hidden, however, which has shown to the world the email addresses of several other companies and prompted people in the crypto industry to claim that the police were very irresponsible.

In the email, all crypto companies were given a total of four weeks to answer. Participation was deemed mandatory as they should release data about their operations to the authorities so that the police could fight money laundering and terrorism.

The guidelines of the email are backed by the Estonian law, but the European Union’s General Regulation and Personal Data Protection laws require a level of confidentiality in this kind of dealing, and the authorities seem to have failed at that, which can cause a lawsuit.

This is not the first time that this kind of incident happens in the industry. In fact, it is the second this month. Some time ago, BitMEX also shared the emails of several customers by sending a mass email, which caused several people in the industry to criticize it.

Data privacy is being taken more seriously every day and yet companies and institutions fail to uphold their responsibility to protect the privacy of their clients. Unfortunately, while these problems are not completely overcome, we’ll continue to face issues in the industry.

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Author: Gabriel Machado

Bitfinex and Tether Get Dragged to Court for Second Lawsuit, Alleging BTC Price Manipulation

Bitfinex was previously brought to court over research that revealed that Bitfinex and Tether participated in price manipulation. Bitfinex stated that the research is “foundationally flawed.”

Bitfinex and Tether have become no strangers to the legal system recently with the plentiful media attention on their honesty (or lack thereof) over what their platforms hold. Now, as if one lawsuit wasn’t good enough, the twosome has been hit with another class-action suit, which was filed this week. According to an article by Finance Magnates, Bitfinex is rejecting the claims made against it.

As Bitfinex sees it, the lawsuit has been brought on by a “copycat” that is against Bitfinex and Tether, stating that they’ve been manipulating Bitcoin prices with the stablecoin’s use.

The lawsuit, which was filed with the US District Court for the Western District of Washington, was filed on Friday, and was the second of its kind. The lawsuit was preceded by similar action by lawyers that brought the exchange to the US District Court for the Southern District of New York. The exchange stated,

“As we predicted last month, mercenary lawyers continue to try to use Bitfinex and Tether to obtain a payday. To be clear, there will be no nuisance settlements or settlements of any kind reached. Instead, all claims raised across both actions will be vigorously contested and ultimately disposed of in due course. Once they are, Bitfinex and Tether will fully evaluate their legal options against those bringing and promoting the baseless claims.”

iFinex operates both Bitfinex and Tether as the parent company, and the executives of iFinex control both companies, which has likely led to many of the controversies. There’s been research published by two academics, revealing that Tether was manipulating Bitcoin prices ahead of the 2017 rally.

However, the plot thickened as Bitfinex was used to manipulate the market in this circumstance, which put both of the companies on the line. Even with this research, Bitfinex and Tether have both attempted to shut down the claims, stating that the study was “foundationally flawed.”

Bitfinex added that neither they nor their affiliates had manipulated the market or the price of tokens with Tether tokens. They added,

“It is irresponsible to suggest that Tether or Bitfinex enable illicit activity due to the efficiency, liquidity, and wide-scale applicability of Tether’s products within the cryptocurrency economy.”

Controversy is already common in the cryptocurrency industry, based on consumers that have still yet to catch up with the trend. However, the issues surrounding Bitfinex and Tether continue to follow the platform, as yet another lawsuit has come against them for price manipulation.

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Author: Krystle M

Bitcoin Bankrolls Above $10,000 USD as BTC Price Soars 33% in 10 Hours

  • Bitcoin price rises from $7,400 to over $10,000 BTC/USD briefly
  • exactly 200 days before the bitcoin mining halving
  • Last Week Today: Recap of the Top Bitcoin News Stories in the Past Few Days

The price of Bitcoin was under $7,500 USD less than 24 hours ago and has now soared over 30% to rise above $10,000 in the past 10 hours.

bitcoin-price-btc-usd-exchange-rate-value-october-25

Now, there are so many things to talk about in this bitcoin price analysis and the greater cryptocurrency market, which rose from $205 billion to $261 billion in the past day.

Below we are going to cover the latest bitcoin news event in our signature ‘last week today’ crypto headline updates.

But before we do, many are weighing back in on the bitcoin price prediction of $16,000 by October 2019 after a previous 4chan’er successfully predicted bitcoin’s bear market current low in December 2015 of $3,131 BTC/USD and then got the April 2019 forecast of $5,300 as well as July 2019 of over $9,000. And now with just under one week left before the halloween month, Bitcoin has surged nearly $2,000 in a matter of half a day’s time.

And another interesting headline circulating the crypto twitter community is this:

Many what if’s are circulating about this trending storyline but the crypto community will always remain bullish when intriguing topics of interest are start to pop up as the permabulls await their second big wave of sunshine on the leading cryptoasset in the industry.

There’s so much more to add, from Bakkt updates to Tom Lee sharing more stats:

and

Between Mark Zuckerberg appearing in front of Congress to talk Libra crypto project or the president of China Xi Jinping declaring the desire to seize the opportunity of blockchain technology, let’s take a look at the latest news we published about bitcoin’s price rally as well as the bitcoin mining halving countdown timer:

bitcoin-mining-halving-countdown

bitcoin-mining-halving-countdown

bitcoin-mining-halving-countdown

Latest Bitcoin Price News and Crypto Market Updates

Now let’s get into #LastWeekToday and recap what exactly happened in the past week in cryptoland and see how we arrived at today’s $2,000 price jump that is bringing all the bitcoiners to the school yard.

Last Week Today: Bitcoin and Crypto Weekly Digest

Let’s review all of the main stories of the latest crypto news from October 16-23, 2019:

  • 18 million milestone a timely reminder of Bitcoin’s scarcity
  • Bitcoin blockchain transparency helps authorities bust dark web website
  • Undeterred by recent desertions, Facebook drafts Libra charter
  • New HTC Exodus blockchain phone can run a Bitcoin full node

Only 3 Million Bitcoins Left to be Mined, or 300 trillion satoshis!

To cap off a week of escalating fiat crises across major economies caused by inflation, Bitcoin scaled another aptly timed milestone last Friday as the 18 millionth bitcoin was mined, leaving just 3 million bitcoins to be mined over the next 120 years.

In a little over six months, the issuance of bitcoins as mining reward will be halved from 12.5 bitcoins to 6.25 bitcoins, reducing the daily supply from approximately 1800 bitcoins to 900 bitcoins and weekly supply from roughly 12600 bitcoins to 6300 bitcoins.

If you’re wondering about why the figures are approximate, it’s because block generation lacks hard-coded temporal constancy. It is a Poisson process, meaning that, simply put, the discovery of each block is an independent event unrelated to the previous or the next block.

Bitcoin bulls on social media have been referring to the upcoming halving as “the most dramatic in Bitcoin’s history”, citing the value of coins in dollars that will be pulled from daily supply, but this line of reasoning is flawed and misleading.

Bitcoin’s price during the 2012 halving was $12, which meant that despite a reduction of 3600 bitcoins in daily supply, only $43,200 in dollar value was made scarce. During the 2016 halving, Bitcoin’s price was $650, meaning that with a daily supply reduction of 1800 bitcoins, nearly $1.2 million was pulled from daily supply.

Each successive halving in fact reduces new supply by fewer bitcoins. The most dramatic thing about this halving is that it will reduce the daily supply to merely 900 bitcoins, which is a significant scarcity from a daily supply of 7200 bitcoins before the 2012 halving.

But for those who still want to swear by the most dramatic halving in terms of dollar valuation of Bitcoin, rest assured that the next halving on 2024 will reduce the supply by many more millions, if not billions, worth of… 3.125 bitcoins!

A couple of other talking points emerged from this latest spotlight on Bitcoin’s scarcity – Could deflationary money actually work in the long run? Is the reduction of mining reward a disincentive for miners to keep going without better fee compensation?

Big Four accounting firm Ernst & Young’s global innovation leader, Paul Brody drew upon the economic history of deflationary models to dismiss Bitcoin’s practicability as money, citing in particular The Great Depression which was exacerbated by the gold standard,

“If bitcoin were to become a substantial part of the global monetary system, we would need to address [the hard supply cap] because a lot of economists agree deflationary systems are not necessarily the best thing.”

This prompted discussions in the crypto universe, with some suggesting that the cap could be changed if deemed necessary. The argument regarding incentivizing the miners is very much tied into the discussion regarding Bitcoin’s disinflationary model.

Let’s first expose the folly of gold standard comparisons by so-called economists. The key selling point of Bitcoin, unlike gold, is that it is infinitely divisible and that makes Bitcoin infinitely more practical as money than gold. Sure, there’s only 3 million bitcoins left to mine but that’s 300 trillion satoshis!

Over the next 120 years, even as mining reward keeps halving, the actual value of bitcoins gleaned as reward is likely to appreciate, just as it has done over the last 10 years. When the reward drops to zero in 2140, it is just as likely that fee-based incentives are sufficient to make mining a profitable endeavour.

Bitcoin’s transparency exposes South Korean Criminal

When a criminal uses cash, nobody hears a thing and as a result, nobody talks about it. But when a criminal uses bitcoins, the cheap rags start circling the story to lazily associate bitcoins with criminal activities and pander to the establishment.

Bloomberg reported last week that a US and South Korean authorities busted one of the largest darknet markets for child pornography, a crime that is “proliferating at a furious pace with the rise of cryptocurrency.”

A 23-year-old South Korean citizen, Jong Woo Son, owner of a child porn website named Welcome to Video (WTV) was charged by a US federal grand jury and convicted in a South Korean court and held in custody in the country.

The darknet website is said to have attracted 337 registered users from 11 different countries including, shockingly, law enforcement officers from the US. 92 individuals in the US were nabbed by authorities and 23 minor victims from the US, Spain and the UK were rescued.

By using KYC forms submitted to exchanges and tracing the flow of funds on the blockchain using blockchain analytics firm Chainalysis’ Reactor software, law enforcement was able to link all the offenders’ addresses to the darknet website.

U.S. Attorney for the District of Columbia, Jessie K. Liu delivered a scorching warning to offenders, “Our message for those who produce, distribute and receive child pornography is clear: you may try to hide behind technology, but we will find you, and we will arrest and prosecute you.”

What she failed to mention though was that the finding, arresting and prosecuting of these offenders would be impossible without the transparency afforded by the very same technology.

Facebook and friends plough on with Libra in forlorn hope

Sometimes, you almost feel sorry for Libra. Just when they thought things couldn’t get any worse after the calamitous departures from a couple of weeks ago, on the day of the inaugural Libra Association meeting, another member abandoned ship.

What was to be a 22-member meeting became a 21-member meeting, as travel aggregator Booking Holdings dropped out from the project. The company’s CEO Glenn Fogel said that they wanted no part of the controversy that’s developing around Libra.

At the meeting, the group elected its board of directors – a five-person board headed by Calibra CEO David Marcus and comprising four other executives from Kiva, Andreessen Horowitz, Xapo and PayU. An executive team was also appointed at the meeting.

The Libra Association issued a statement after the meeting, assuring to placate regulators around the world before launching the coin, “We are committed to building a better payment network. As an association, members will continue critical work with applicable regulators around the world, begin the important process of standing up a governance and policy structure and create a transparent membership criteria and admissions process.”

On Monday, in a development which highlighted Facebook’s desperation, Marcus was quoted by Reuters as having told bankers that Libra would be open to changing the structure of Libra by pegging the stablecoin to individual sovereign currencies, rather than a basket of currencies, “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stable coin, etc.”

At a hearing before the House Financial Services Committee on Wednesday, Facebook co-founder Mark Zuckerberg was grilled on a variety of controversies regarding the social network, including Libra.

After reiterating that Facebook would not launch Libra without regulatory approval, Zuckerberg added that the company would leave the association if the other members decided to launch regardless of approval.

Zuckerberg also made it clear that the company had no intention of creating something that’s unregulated or decentralized, which makes us wonder why they decided to resort to blockchain buzzwords or even call that darned thing a cryptocurrency.

HTC unveils affordable successor to Exodus blockchain phone

Taiwanese smartphone maker HTC last Friday released a new blockchain phone, Exodus 1s. Further to housing a hardware wallet similar to its popular predecessor, Exodus 1, the new iteration is also capable of running a Bitcoin full node.

Being able to run a full node on a device housing the wallet is an added layer of security for users reluctant to trust third party wallet servers to interact with the blockchain. The device comes at a very attractive price of just $240.

Despite the advantage of being able to run a full node, Exodus 1s is unlikely to be popular as a primary smartphone with its underwhelming specs. The device runs Android Oreo on a Snapdragon 435 SoC, has a 5’7″ HD display, 13 MP front and back cameras and is powered by a 3075 mAh battery.

Those specs are outdated by at least 2 years, but regardless of the poor specs, Exodus 1s offers a lot of a niche audience by combining as a smartphone, hardware wallet and a Bitcoin full node, which makes it an attractive for its price.

However, with an internal memory of just 64 GB, to function as a full node the device requires the addition of a memory card since the Bitcoin blockchain’s size is currently 260 GB. HTC’s chief decentralized officer, Phil Chen was optimistic that the device will help the company stand out in a sluggish smartphone market rife with stodgy fare with little innovation,

“The Exodus 1 is still available and is hitting our internal targets. We’ve been delighted with the response. Exodus 1s is a completely different device. It allows you to relay transactions, confirm transactions and validate transactions. Crypto technology is the next frontier of smartphone innovation. For the smartphone category to grow again, we need more adoption of crypto phones.”

HTC may be way ahead of the market with their blockchain smartphones but by being the first to test the waters with the co-option of smartphones as a key interface for the digital economy, they’ve afforded themselves the crucial first mover advantage for this market, just like Apple did a decade ago with iPhones.

Bitcoin Price Analysis: BTC/USD Trading Insights

No surprises there then. Another CME monthly futures close, another flash crash for BTC/USD.

After closing last week at 8235, the pair struggled to hold the level leading up to Friday, when the October futures are settled and predictably broke down from key support at 7750 to fill the futures gap from May.

Having now filled that gap, we’re at a knick point. It’s now make or break as a further move down could be pretty disastrous and would seem unreasonable six months out from the next halving.

The only thing that matters on the daily chart is that we’re precariously close to a death cross, an event that’s certain to spook bullish traders into capitulation and with good reason.

The 50/200 death cross is historically one of the most trusted indicators of trend shift and has an accuracy of 79%, meaning that it precedes a shift to downtrend on roughly four out of five occasions of the cross occurring.

But there’s some solace that having filled the long-standing futures gap and with indicators showing oversold, such as slow K descending to extreme oversold territory, we may still see a recovery to prevent the death cross.

At the time of writing, BTC/USD is showing some signs of a quick recovery but before we can say that the pair is truly out of the woods and clear of a potential bear trend, the price needs to cross back above the 200-day average at 8900 and re-assert its bullish momentum.

Things are also at a fairly critical juncture in the weekly chart and the close next Sunday could be important in determining if there is a primary trend shift.

Receding ADX indicates that the momentum from the flash crash is relenting, and a bearish DI crossover hinges on this week’s close. As does RSI keeping above bull-cycle low of 40.

BSV, BCH and LINK were the best performers among leading altcoins last week for BTC pairs. ETH and XRP posted marginal gains before slipping to 0.021 BTC and 3500 sats respectively. After briefly dropping to under 65%, Bitcoin recovered to assert a market dominance of 66.3%.

Latest Bitcoin Price News and Crypto Market Updates

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Author: Lamps T

Facebook’s Mark Zuckerberg to Face Congress and Discuss Libra Project Concerns on October 23

Facebook’s CEO, Mark Zuckerberg is set to testify in US Congress over the Libra project. CoinDesk reports that Zuckerberg will face the Congressional Financial Services Committee on Oct.23 to shed light on Facebook’s impact on the financial services as well as housing sectors. As per the committee, Zuckerberg will only be involved as a witness.

Although details about the hearing remain scarce, a press statement released by the committee’s chairperson Maxine Waters indicated that she had come up with a bill known as “Keep Big Tech Out of Finance Act” hence the need for Zuckerberg to testify. Recently, Waters had said that Facebook should hold on the Libra project until all the concerns from the lawmakers were fully addressed.

As per the press release, the draft bill wants giant platform utilities such as Facebook be prohibited from acquiring a charter, license or even being registered as a financial institution within the US. In addition, the bill is also seeking the prohibition of big platform utilities from starting, maintaining or operating any form of a digital asset that can be utilized as a medium of exchange, a store of value, unit of account or a similar function as given by the Federal Reserve.

The hearing at the end of the month will be the third one to be held by Congress. In July this year both the House Financial Services Committee as well as Senate Banking committee both held a hearing on Libra project. At that time, Facebook’s blockchain head David Marcus was questioned on the probable benefits of the Libra project.

During the previous hearings, the lawmakers were concerned about the Libra project citing Facebook’s previous handling of data among other issues.

The regulatory issues confronting the Libra project has been a major concern to key partners. PayPal officially announced it was pulling out of the 28-member governing association late last week. Similarly, Mastercard and Visa are allegedly analyzing the impact of their continuity with the project.

The lawmakers have in the recent past warned the CEOs of the participating Libra partners that their companies could be at risk of extra regulatory scrutiny.

Keep it here for more updates on the hearing.

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Author: Joseph Kibe

US Hospitals are Paying into Hackers Ransomware Demands to Remove Ryuk Attacks

A group of hackers is threatening hospitals from all over the world with a malware called Ryuk. Now, some hospitals from the United States have decided to pay up the ransomware to get rid of this problem, the Next Web’s Hard Fork reported.

In the state of Alabama, three hospitals were attacked, the DCH Regional Medical Center in Tuscaloosa, the Northport Medical Center and the Fayette Medical Hospital. All of them were infected this month.

While no criminal group has taken responsibility for the ransomware attacks, Ryuk could become a global threat, a group of researchers in the United Kingdom affirmed. A security company called Crowdstrike suspects that the attack may be led by Russian group known as Wizard Spider. So far, the group stole over $3.7 million with its hacking attempts.

Since August 2018, criminals using Ryuk have affected over 100 businesses, according to the FBI. The attacks are global and people from Australia, the U. S. and other regions were also reported.

Ryuk is basically a Trojan virus that works by encrypting files on the computer network and then demands a payment in Bitcoin to decrypt them. The malware is mostly used to target large corporations such as hospitals and large companies. With their significant revenue, they can pay a lot for the ransom.

Unfortunately, several victims have no choice but to pay up. Hospitals and other important facilities need to treat their patients, they can’t simply wait for weeks until the problem is resolved. Because of this, they often decide to cave in, which is very profitable for hackers.

According to a recent report made by Coveware, Ryuk demands a ransom of around $288,000 USD per attack.

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Author: Gabriel Machado

Institutional Investors are Manipulating the Price of Bitcoin: Arcane Research Report

In September, Bitcoin price took a hit of over 19%. It went from its highest point of $10,930 on Sept. 6 and dropping to almost $7,730 on Sept. 26.

On Sept. 27, the day CME BTC futures contracts settled, the price went under $8,000 for the first time since June.

The drop in BTC price might be caused by institutional investors, according to Arcane Research.

Bitcoin price falls on average 2% ahead of futures contracts on CME being settled. Arcane Research has looked closely at the numbers, and the systematic trend is striking; the price has dropped 15 out of 20 times.

CME’s Bitcoin futures contracts, that are an indicator of Wall Street’s institutional interest in cryptocurrency settles in dollars and not in BTC. The settlement meanwhile is determined by the BTC price in the underlying market.

This means, no BTC changes hands rather it’s just underlying market trading in dollars while allowing Wall Street traders to go long or short on BTC futures contracts.

On settlement date of the contracts, traders can sell off their BTC and potentially trigger a price drop in the spot market.

This allows traders with short positions to earn profit on futures contracts upon settlement as the value of their position rises.

A Clear & Striking Trend in BTC Price & CME BTC Futures Settlement

According to Arcane Research’s analyzation, the trend is “striking.”

On an average Bitcoin falls 2.27% towards each settlement each month in comparison to only 0.06% all on a random day.

The trend becomes even clearer on looking at the median, on any random day, the fall is of 0.04% while before settlement, price takes a drop of 1.99%.

Moreover, there is an even relationship between positive and negative days while just the day before the settlement, only 25% of the days were positive.

Interestingly and oddly, BTC price falls the most before settlement, this was particularly seen this spring.

The data supports the hypothesis that

“the bitcoin price is manipulated in advance of CME settlement.”

However, it doesn’t say anything about “deliberate manipulation.”

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Author: AnTy

Zuckerberg Links Up with Democratic Lawmakers Concerned About Libra Cryptocurrency

Facebook’s CEO Mark Zuckerberg held a meeting on Wednesday with about six US lawmakers over a dinner in Washington, Washington Post reports. The dinner meeting primarily focused on Facebook’s Libra crypto project.

Intelligence Committee vice chair Senator Mark Warner was pivotal in organizing the dinner meeting with Zuckerberg at an undisclosed restaurant in Washington. According to Warner, the legislators explained their issues ranging from privacy, vile content and how the issues can be handled.

While the discussion was about various issues about Facebook, the lawmakers took a keen interest to ask specific questions about Facebook’s intended cryptocurrency, the Libra. The cryptocurrency has yielded lots of scrutiny from different quarters especially lawmakers and other policy makers in the world.

One of the key concerns from the lawmakers is the fact that Libra representatives had indicated that if the project failed to get approved in America, it will not be launched in another country. Warner raised concern that Facebook might have duped the lawmakers with such an assurance as there are indications that Libra may be launched in another country in the near future.

According to Warner, Zuckerberg must have understood the concerns of the lawmakers and as such, the lawmaker wonders whether Facebook would want to launch the Libra crypto before getting approved by the US authorities.

Another lawmaker present during the dinner, Sen. Richard Blumenthal, said that he was thrilled by the interest exhibited by Zuckerberg saying that the dinner meeting was constructive as the most pressing issues facing the larger tech space were canvassed and he was much interested in the measures taken by the company to safeguard privacy.

According to Cointelegraph, Zuckerberg is set to spend more days in Washington meeting with various policy makers to talk about internet regulatory on various issues like privacy, handling of rivalry as well as how to deal with election matters. These meetings comes just a few weeks after the intense grilling of the Libra cryptocurrency by the US Congress.

Libra has been facing increased challenges ahead of its official launch scheduled for next year. Earlier this month, French Finance Minister stated that his country will not allow the launching of Libra within the European Union. Additionally, German Finance Minister has claimed that Libra will create a parallel currency that might undermine sovereignty.

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Author: Joseph Kibe

Binance to Create Fiat-to-Crypto OTC Platform Aimed at Chinese Market

Binance, one of the largest crypto exchanges in the world, is currently considering to open up an over the counter (OTC) trading desk on its platform. The move, which was reported by Coindesk, was created to cater to the Chinese market, experts stated. It will provide a gateway for deposits of fiat and the Chinese yuan (CNY) will be accepted.

By doing this, the exchange probably has the goal of entering the lucrative Chinese market, which cannot be entered by conventional means because of local laws banning cryptos. He Yi, the CMO of Binance, has recently affirmed that several Chinese traders are now using crypto OTC desks because exchanges were banned from the country.

Binance is also set to add support for people who want to use fiat to buy cryptos in 170 different countries. This is obviously a move that the company is making to consolidate its position as one of the main companies in the crypto world right now.

Right now, Binance is set to expand its market even more. It is already the largest exchange in the world, but its reach has been limited to crypto-to-crypto trades for a long time, so this is set to change in the coming months.

The Crypto Ban In China

The so-called crypto ban happened in China back in 2017. Overnight, the government decided to ban all crypto’s and ICO’s from the country. It was in September, back when the crypto mania was getting strong.

Binance was, originally, a Chinese company, but it decided to leave the country around this time, also leaving this lucrative market behind.

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Author: Gabriel Machado

Dan Larimer On 30k EOS Hack, “No Different Than High Fee Transaction Spam On BTC Or ETH”

An exploitation of EOSIO allowed an attacker to gain 30,000 EOS worth over $110k by winning every roll on the gambling decentralized app (DApp) EOSPlay.

The attacker used REX, the Resource Exchange is a bucket that collects all the EOSIO resource fees including RAM sales and name auctions, to have the blocks filled with transactions to win in EOSPlay.

As thousands of EOS were gained by the attacker, the network ended up freezing.

However, Daniel Larimer, the founder of EOS argues the network is “operating correctly.”

EOSIOAlabama explained how “everyone basically gets locked out unless they have more eos staked than the attacker.”

In this case, the attacker had about 1 million EOS stakes to cpu from REX.

“REX is causing an issue,” said one user while others voice out the same, but Larimer says, “the issue is not with Rex as it just allows some owners to lease their bandwidth to others and “No platform can prevent poorly designed apps.”

Moreover, “This will drive Rex rates higher. Market will correct. Owners could also not lend to Rex,” he said.

One anonymous developer said the attack may have been larger than originally expected.

“Lesson learned here is don’t design contracts that depend upon extra bandwidth available during uncontested mode. The eosplay contract should have a low cpu action to pause execution available to contract maintainers.”

Larimer said.

“Or eosplay should lease enough bandwidth to ensure that they can upgrade everything even during congestion.”

EOSPlay meanwhile needs to be avoided until the issue is fixed. The rest of the network, including Voice users (for which B1 is providing all bandwidth) however, should not be at risk.

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Author: AnTy

100 Million XRP Moved from Ripple to Jed McCaleb Wallet; XRPArmy Fears Another Price Dump Coming

A whopping over $26 million worth of XRP has been transferred from Ripple to Jed McCaleb, Ripple co-founder who also created 12th largest cryptocurrency by market cap Stellar.

In 2014, the company struck a deal with the original creator of the digital asset to prevent the sell-off of 9 billion XRP, that year.

About a year back, in 2018, the price of the digital asset fell more than 14 percent in just 24 hours, with reports suggesting McCaleb was behind that dump.

At that time, the Wall Street Journal reported that McCaleb, who left Ripple in 2013 might be putting pressure on XRP price by selling the cryptocurrency.

However, McCaleb said,

“I’m not selling more than I have agreed to with Ripple.”

Interestingly, McCaleb is reported by CoinMetrics to be selling 500,000 XRP each day. Ripple itself has also been participating in ten of millions of worth of sales to cover the expenses and build up its balance sheet.

Now, that 100 million XRP has moved to McCaleb’s account, the market is yet again in fear of mass selling that could trigger another drop in price.

Currently, XRP is in the green by 2.79% trading at $0.26, still down over 92% from its all-time high of $3.40, hit in January 2018.

Since September started, a huge amount of XRP has been on the move, as per Whale Alert:

  • 10,000,000 XRP was transferred from Bithumb to an unknown wallet
  • 30,000,000 XRP was transferred from unknown wallet to Binance
  • 27,267,000 XRP was yet again transferred from Bithumb to an unknown wallet
  • 99,999,975 XRP was transferred from unknown wallet to an unknown wallet
  • 100,000,000 XRP was transferred from unknown wallet to an unknown wallet
  • 22,552,393 XRP was transferred from unknown wallet to Bitstamp
  • 100,000,000 XRP was transferred from unknown wallet to an unknown wallet
  • 100,000,000 XRP was transferred from unknown wallet to an unknown wallet
  • 50,000,000 XRP was transferred from Ripple to Ripple OTC Distribution wallet
  • 19,441,269 XRP was transferred from Ripple OTC Distribution wallet to an unknown wallet
  • 40,000,000 XRP was transferred from Funding Wallet 1 to an unknown wallet
  • 40,000,000 XRP (was) transferred from unknown wallet to Funding Wallet 1

During this period, 1 billion XRP was unlocked from escrow at Ripple Escrow wallet which was then transferred to Ripple. Out of these, 800 million XRP was then locked in escrow at Ripple.

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Author: AnTy