BTC Users Running Lightning Network Nodes Urged To Update After Confirmed CVE Vulnerabilities Exploited

An unfortunate event happened in the Bitcoin Lightning Network recently. According to the recent announcement made on Twitter by Lightning Labs, the network is currently being exploited due to a vulnerability.

According to the tweet, all Ind 0.7, c-lightning 0.7, eclair 0.3 and their editions below that are possible to be affected by the exploit, so people should upgrade to the latest version of the system in order to protect themselves from the attack. The latest versions, 0.7.1 and 0.3.1, are not subject to the attacks.

Olaoluwa Osuntokun, the Chief Technology Officer (CTO) at Lightning Labs, affirmed that there are several cases of people exploiting the network. The exploit was originally discovered a few days ago by Rusty Russel, another LN coder.

According to Russel, security vulnerabilities could make several projects to lose funds. He did not disclaim exactly what was the bug, obviously, in order to protect the users, but someone or a group of people may have discovered the exploit and is using it to steal money from the LN.

The Twitter profile also warned people that LN technology is prone to have bugs as it is still during its experimental phases. Because of this, nobody should put more money on the network than they were willing to lose if a bug happens.

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Author: Hank Klinger

BitMEX Jokingly Jabs at Binance on Plagiarizing Its Documents For a Futures Trading Platform

The most recent spat between crypto exchanges happened between BitMEX and Binance. According to BitMEX, people from the other exchange plagiarized some content from documents had created.

BitMEX decided to be sarcastic and congratulated the other platform for it. The tweet also affirmed that the company was glad that the people at Binance enjoyed the paper so much that they copied it.

The original document created by BitMEX was used for the testnet of the company’s futures platform. Now, Binance also used it for the testnet of its own futures platform.

Even the CEO of BitMEX, Arthur Hayes, commented on the occasion. He joked that people who plagiarize should at least make a small effort so it doesn’t seem so obvious that they are stealing content.

The CEO of Binance, Changpeng Zhao, had no alternative but to confess that it was their fault. According to him, it was their mistake and he did not read the documents from BitMEX himself, so this part was not spotted by anyone.

His reaction was seen favorably in social media and some people have even defended Binance, affirming that it was not such a huge sin because people are launching new products practically all the time. Hayes seemed to be ok with the answer, posting a friendly meme as the answer.

Now, Binance is set to continue the launch of its futures testnet platform. The company has launched not one, but two platforms. The main idea was that people from the community could vote on which platform they liked the most. The platform with more votes would end up being chosen as the official one when the test phase is over.

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Author: Bitcoin Exchange Guide News Team

Users Affected By Binance KYC Leak Hack Will Get Free VIP Accounts

Binance has decided to give something to the users who were allegedly hacked. According to a recent blog post, the company will give free VIP accounts to any user related to the Know Your Customer (KYC) leak incident.

While the company disputes that it was hacked and affirms that some of the information was actually stolen from a third-party company, it has chosen to offer some kind of compensation for the incidents, as some of the leaks match actual clients. Most “leaks” are said to missing vital information, though, which is great.

According to the crypto exchange, some of the images stolen from the third-party company overlap with the ones that Binance has in its own KYC. Multiple pictures were photoshopped, though, or do not match the records that the company has. The main reason for the company not to believe that the hack happened was because the images lack the company’s watermark.

The exchange affirmed that it has “robust security” measures which are being used to safeguard the assets of its clients. These measures include AI-verification and all the data is stored with several protections, so the hacker would really need to do a notable job to be able to crack them.

Now, all the potential victims can become VIP customers for their lifetimes. They will get all the advantages without ever having to pay for them.

Binance has also requested that, just in case, everyone affected by the hack should issue new documents in their countries, as there is the risk that some sensitive information might be leaked by the actual hack, the one made on the third-party company hired to handle KYC some time ago.

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Author: Hank Klinger

Monolith Partners with Digix and MakerDAO to Make Tokens Loadable Visa Debit

On Thursday, August 15, 2019, London-based, Ethereum-powered banking alternative, Monolith reported on its recent partnership with smart asset company, Digix (token: DGX) and stablecoin project, MakerDAO (token: DAO). The reason for said alliance stems from the latter two’s aim of getting their tokens loaded on the Monolith Visa debit card.

Commencing this very same day, Monolith users will be able to load Digix and MakerDAO coins onto their cards via the former’s mobile app. Said loading can be used towards paying day-to-day transactions, whether this is to pay, send or receive funds.

As a way to celebrate the trio’s involvement, Digix is offering the first 1,000 users who activate their Monolith card with 0.1 grams of Gold in DGX tokens. Digix is a firm that used blockchain technology to create DGX, a token that represents 1 gram of gold stored in recognised precious metals vaults in Canada and Singapore.

This move is especially big for Monolith, as the firm can watch its contributions grow within the e-payment space. This is mainly due to its debit card being accepted anywhere Visa typically does, with high anticipation for coverage in the time to come along with newer partnerships.

According to the CEO of Monolith, Mel Gelderman, there has been a “fantastic response from [their] beta users and are now ramping up for growth.” Gelderman further added that

“Rebranding to Monolith helps us achieve our mission of democratizing finance and bringing the Token economy to everyone while providing a unique service to our customers.”

It seems like the reason for picking Digix and MakerDAO stems from their accredited nature. More specifically, he said,

“MakerDAO and Digix are some of the most recognized and earliest Ethereum-based projects. For TKN holders, these partnerships mean that DAI, DGD and DGX are now eligible for usage in the TKN Asset Contract.”

The CEO of Digix, Kai C. Chng mentioned that the partnership was forced by nature, emphasizing that it is due to the commonality between the duo, i.e. bringing together blockchain assets and “democratizing access to cryptos”.

Cointelegraph also reported on this matter, in which CEO of MakerDAO, Rune Christensen’s viewpoint on said endeavor was disclosed. In particular, the CEO was quoted saying:

“Monolith’s solution provides a powerful way for token holders to extend the usefulness of their crypto-holdings […] Their cards create a critical bridge from the world of DeFi (decentralized finance) to the more traditional world of retail.”

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Author: Nirmala Velupillai

Glassnode Reveals Litecoin Dusting Attack on Binance Affected Nearly 300,000 Wallets

A recent dusting attack that was made against the Litecoin network affected almost 300,000 wallets on Binance. The attack affected exactly 294,582 addresses, despite reports that only a few were affected.

This was revealed by Glassnode, a metrics company that used its technology to map out the attack. According to the company, the attack was similar to another one that happened in April.

Initially, Coinbase affirmed that only 50 wallets were affected. The company did it as soon a the attack happened on August 9. This, the company affirmed, affected only 0.00000546 LTC, almost nothing. The truth, however, seems to be quite different.

Curiously, some people affirm that the dusting attack was actually not a real attack after all. Jan Happel, the founder of Glassnode, told the crypto media that the “attacker” was not actually trying to harm anybody.

His address was identified and he claimed that he was only trying to advertise his exchange, which is based in Russia. The goal was to “reach out” to several wallets to advertise their mining pool services, which were focused on the Litecoin community.

Despite being a very weird reason, nobody was actually harmed by the so-called dusting attack, so there may be some truth to his statements.

At the moment, there is also not a real explanation as to why Binance believed that only a few addresses were affected at first. James Jager, from the Binance Academy, however, posted that they managed to identify the person and that it was a wide attack sometime after the event happened.

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Author: Daniel W

Billionaire Investor Mark Cuban: “Gold and Bitcoin are Pretty Much One and the Same Thing”

  • uban, in a recent interview, let it be known to the world that he is not a big fan of precious metals — especially gold.
  • He was recently quoted as saying that he hates gold with what he refers to as, “double-extreme prejudice with an ounce of hot sauce.”

Billionaire Mark Cuban (who is also the owner of the Dallas Mavericks) recently stated in an interview that he hates gold as an investment tool.

He then went on to add that in his view, Bitcoin is pretty much the same as the yellow precious metal — even though the digital asset has the advantage of having a finite supply volume. On the subject, he was quoted as saying:

“They’re both collectibles. The value is based off supply and demand. And the good news about Bitcoin is there’s a finite supply that’ll ever be created.”

Bitcoin has often been referred to as “digital gold” by many finance experts. In this regard, the origin of this term can be dated back to 2015, when a NY Times journalist named Nathaniel Popper published his book of the same name.

Recently, Sonya Mann — ZCash Foundation’s head of comms. — was quoted as saying that due to BTC’s 21 million token supply, the premier digital asset appears to be a much more lucrative SOV (Store of Value) when compared with gold.

She also added that owing to BTCs utility as a software product, the global investment community is now beginning to realize the true potential of this asset.

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Author: Shiraz J

Tezos (XZT) Becomes Available to Buy, Sell and Store on Coinbase Right Now

You can now trade Tezos (XZT) tokens on Coinbase, according to a recent blog post from their official blog, users are now able to buy, sell, send, receive and store the tokens starting on August 8. Customers will be able to access the asset from desktop computers or by using the Android and iOS apps.

The new offering is available for users from all regions, except New York State. The reason for this is, the state has stricter compliance laws than other jurisdictions, so it may take longer before the listing becomes available.

Coinbase’s new asset Tezos uses a proof of stake method. It lets the token holders vote on changes that happen on the network and can get money by staking tokens. The tokens were originally launched back in 2017 via an Initial Coin Offering (ICO).

At the time of this report, each token was worth $1.58 USD, up 15% in the last 24 hours, possibly due to the listing.

The listing is part of a larger move made by the company in order to list more assets and diversify its portfolio. This way, Coinbase hopes to cater to investors who want to invest in more than just Bitcoin.

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Author: Gabriel Machado

Bithumb Works Towards Increasing Korean Presence in EOS Governance

Bithumb Works Towards Increasing Korean Presence in EOS Governance

In a recent press release via Bithumb Café, South Korean-based cryptocurrency exchange, Bithumb revealed that Koreans are not represented in the EOS Governance.

For this reason, the exchange is finding ways to urge Koreans to partake in said governance. Reasons for why one should have since been shared.

Before getting into the aforementioned, it is important to understand what EOS Governance is. A previous post by Blockgenic broke down the process that involves people within the EOS community, all of whom:

“Reach consensus on subjective matters of collective action that cannot be captured entirely by software algorithms; carry out decisions they reach, and alter the governance rules themselves via constitutional amendments.”

That said, here’s what Bithumb had to further add:

“One of the most important features of EOS […] is that the number of votes to be elected. But reports confirmed through multiple channels such as a block switch Iowa, 2019.8.1. main EOS BP of community members who are active in the national arena is identified as not. This is an unexpected result given the fact that [Korea] is known to have about 10% of the entire EOS […] in circulation.”

Some of the steps that will be taken by Bithumb to increase Korean presence includes distinguishing separate EOS staking accounts for votings, and measures to prevent staking a withdrawal EOS (i.e. after 3 days) among others.

CCN was supposedly the first to have reported on this matter, where the news outlet disclosed that the crypto exchange is using all of its EOS to make the Korean vote count with several positions being filled to manage the efforts.

They have also decided to redistribute any profits earned to users who were impacted by EOS.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai

New Crypto Anonymity-Identity Wallet to be Launched by Civic and BitGo by Q4

New Crypto Anonymity-Identity Wallet to be Launched by Civic and BitGo by Q4

According to a recent press release, decentralized identity firm, Civic, and a blockchain security firm, BitGo, have announced plans to release a new wallet sometime in the last quarter of 2019.

The new “Civic Wallet” will make use of Multisignature Technology from BitGo and will also support cryptocurrency as well as identity data while ensuring compatibility with mobile gadgets.

The Civic Wallet

Developed in conjunction with and Civic Pay, the wallet will only hold very little data from users which will be used strictly to fulfill Know Your Customer (KYC) requirements or for account recovery.

Using multisig security technology from BitGo, the wallet boasts of significant privacy and security levels as whatever information being held will only be used for the above, ensuring that BitGo has no access to it. This is to give consumers more control of their private data.

“Once they have a Civic Wallet, users are able to selectively share parts of their verified identity with third parties, for example, purchasing age-restricted products anonymously.”

The importance of this technology was also highlighted by BitGo Co-Founder and CEO, Mike Belshe. Belshe explains that it’s now easy for users to recover their accounts in the event that they lose the mobile device that holds the private key for the wallet.

The Civic Wallet has a backup protocol that can aid the user in the quick restoration of all their data and digital funds without losing anything. Belshe iterates that this was not very common before now.

At the moment, access to the Civic Wallet is somewhat controlled and can only be accessed when a person is referred by someone else in the consumer’s network or also through a pre-registration process.

The CEO and co-founder of Civic, Vinny Lingham, has said that the team is “building a new financial and identity ecosystem” also explaining that with efforts like this, more people have further seamless ways to enter the blockchain industry and with more access as well.

According to an unnamed member of the Civic team, the wallet will be launched with at least the minimum required features including support for “a handful of currencies familiar to the digital community”. Expectedly, it will also allow users to do handle crypto as usual, supporting sending, receiving and storage.

Furthermore, the team expects that the wallet will be reasonably appealing even for people who aren’t exactly versed in the crypto world. This will be ensured through its ease of use and also the fact that there will be some interesting features just like people have with their traditional financial institutions. Some of these features include account recovery – as earlier stated – and also others like privacy controls and specific daily transaction limits. This is expected to also work as a security measure in the case of a breach or outright theft.

All identities will also be verified using blockchain technology. This will be done using a feature from, a startup which is now a part of Civic after it was acquired in July 2018 from former owners, Inflection.

Non-Crypto Blockchain Wallets

The possibility of deploying blockchain wallets for other uses has been highlighted in the auto industry by Daimler AG.

The German multinational corporation based in Stuttgart, Baden-Württemberg, has entered an official partnership with Riddle & Code – a European provider for blockchain interface solutions – for the creation of a car hardware wallet.

These blockchain car wallets will be used for many scenarios in the auto industry including sharing of secure traffic data, care-sharing, self-driving vehicles, e.t.c.

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Author: Tolu

Tim Draper: More Fluctuations on BTC’s Road to $250K Plus, BTC Over Libra Hands Down

In a recent crypto content covered by the ‘Cryptocurrency’ channel, Tim Draper shared his viewpoints on Bitcoin [BTC] from all aspects, including price predictions, banks and others’ negative standpoints as well as a comparison between Facebook’s Libra and BTC.

BTC Anticipated to Reach 200K+ by 2022

Draper trusts that BTC is, “going to be 250,000 by 2022 or 2023,” adding that the process will witness an array of fluctuations before actually getting there. He trusts that said moves may be impacted by naysayers, primarily the banks, who are finding ways to prevent BTC from taking over.

He noted that BTC’s use of blockchain and how it is transparent are some among other factors that are surely to leave “banks threatened”, forcing them to find ways to “try to change it”. But, at the end of the day, Draper argues that “technology wins all wars.”

Draper Overturns Claims that Cryptos Lack Security

When Draper was asked about economist, Nouriel Roubini’s viewpoint on cryptocurrencies, especially in relation to the lack of security, the former argued that the economist was wrong.

While it is true that if traders lose their keys, there really isn’t a way to retrieve funds, Draper argued that we cannot expect banks to help retrieve large funds. More specifically, he said:

“For one thing, [Roubini]’s wrong because if you have more than $250,000, no bank is responsible for refunding your money. […] The bitcoin blockchain has never been hacked, but the banks are being hacked all the time and they are playing whack-a-mole with hackers trying to keep them away while their technology gets older and older.”

He seems to have emphasized on technology, as the bitcoin blockchain is constantly getting worked on to one day house the best security it possibly can, while banks still stick to their traditional and outdated means of practice.

“Between Bitcoin and Libra, I want Bitcoin”

Finally, with all talks surrounding Libra in recent times it was bound to be question directed towards Draper.

The latter has since shared that he’s more comfortable with crypto assets that have been rigorously tested, which is something Libra lacks.

“I always welcome innovation […] I think that you have a tried, and true and tested currency in Bitcoin and Libra is new so there is some risk to it and they haven’t been tested, […] but the other thing I’m concerned about is that Libra is centralized […] You just have trust Facebook to be a good operator, and I think I would under Zuckerberg, but if he ever moves out and if there is another CEO, I wouldn’t trust them.”

Bitcoin’s price is $10,480.85 BTC/USD exchange rate today. The real-time BTC market cap of $186.88 Billion currently ranks #1 with a chart dominance at 65.07%, daily trading volume of $6.48 Billion and live coin value change of BTC -3.94 in the last 24 hours.

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Author: Nirmala Velupillai