PIVX And 200 Other Proof of Stake Blockchains May Be Vulnerable, Lunar Digital Assets Affirms

It seems that PIVX, a popular private transactions crypto, may be vulnerable to attacks together with 200 other chains. According to a recent report made by Lunar Digital Assets, there is a vulnerability of the system that can be currently exploited. Every chain using PIVX or its variants is possible to be attacked this way.

Basically, the attacker could exploit this specific vulnerability in order to get impossibly high staking rewards using the proof of stake system of the network.

This is not the first that this vulnerability is exploited. As soon as the PIVX devs found out about it, they rushed to fix the issue. However, another developer, BitGreen, has noticed that the problem was being exploited once more. Someone has probably figured how to undo the progress made by the team and started to use the exploit.

As soon as the developers discovered it, they notified all related companies of the bug and now PIVX is working once more to solve it and stop the attacks.

People Are Accusing the PIVX Team

The situation got heated recently after some people started to claim that the PIVX team might be behind the attacks. According to critics, the team knew of the bug and did nothing about it or failed to fix it properly.

Some others criticized the team for not having a timely response for the problem and simply standing still while the problem was still out there. This led some critics to theorize whether people from the company were exploiting the bug for money and used this inside source in a malicious way.

At the moment, the PIVX team has not explained publicly why the problem was not fixed months ago.

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Author: Bitcoin Exchange Guide News Team

Wirex WXT Token Launches with Emphasis on User Rewards Rather than Fundraising Method

Crypto Payment Company Wirex Adds 10 New Fiat Currencies In Major Update

Many private firms have launched their own native tokens for a number of reasons such as giving their customers access to certain services and as a means of fundraising through ICOs and so on.

Everyone from cryptocurrency exchanges such as Binance who launched their native BNB token to large banks such as JPMorgan announcing their own JPM coin this year, it seems many firms are seeing the benefits of getting in on the cryptocurrency game and are launching their own tokens.

The latest of these is Wirex who announced on June 10, 2019, that they will be launching the Wirex native WXT coin which is their first native cryptocurrency. Wirex is a crypto and fiat payments platform and according to the official statement, the purpose of the coin is that it is is to designed to help users access unique rewards and save on fees.

The New Token

In the official announcement of the Wirex token, it was also stated that the launch would help the company achieve its ultimate goal which is “[democratizing] access to fast, low-cost international remittance and empower retail and corporate customers to use their cryptocurrency in day-to-day life.”

Wirex also launched their own debit card in the past which allows users to make both fiat and crypto payments all in one which has become quite popular with even Coinbase announcing the launch of their own card recently.

According to their CEO Pavel Matveev, “we believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment.”

“The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast, and cost-efficient way to move digital money across borders.”

The WXT tokens themselves will be sold and distributed through an ICO via OkEx’s jumpstart program. The first public sale will take place on June 26, 2019, and during that time only 1 percent of the total WXT token supply will be available to buyers and will also be sold on a first-come-first-serve basis for one cent per token.

In order to be eligible to participate in the sale and purchase tokens, buyers will need to have a verified Wirex account and must make a purchase of at least $25 in WXT with a maximum cap of $10,000.

Most times, when an initial coin offering is held by a company, the end goal is to raise funds but the management of Wirex has stated that this is not their goal in this case.

“Token sales are usually fundraising exercises. This is not Wirex’s top priority, which is why we’re only putting 1% of the total token supply up for sale during the IEO,” a company announcement said. “Ultimately, the long-term success of Wirex and the eventual adoption of a token economy are our primary concerns.”

Despite this, an exclusive IEO sale will take place on the wireless platform on June 13, 2019, and during that time two million worth of the token will be sold.

While some customers might have wanted to take advantage of this, the announcement stated that the sale is already overbooked though Wirex is always happy to talk to investors.

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Author: Tokoni Uti