Tag: hacks

While the Asian region, notably Japan and South Korea, remain receptive to bitcoin and the altcoins, bad actors have seized the opportunity to operate freely in the area. Now, Japanese authorities are introducing software that could help track fraudulent cryptocurrency transactions and aid criminal investigations, as first reported by NHK on August 30, 2018. Japan Ready to Crush Bitcoin Heists…

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In a bid to improve the security level and general standards of cryptocurrency exchanges in South Korea, after a series of hacks and heists rattled the local cryptospace, the Korean Blockchain Association (KBA) formulated a set of stringent guidelines that would govern exchanges and crypto-related projects in the state. Partially Approved Now, the regulatory think tank has approved 12 exchanges,…

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Despite the famed immutability of blockchain technology, widespread hacks and 51 percent attacks on several cryptocurrency projects have proved the emerging sector is susceptible to flaws. This in mind, some of the largest  projects have launched their bounty programs to enhance security and detect bugs, with $24,500 handed out to ethical hackers in July 2018 alone. HackerOne Reveals Bounty Rewards…

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April 13, 2018, was undoubtedly a sad day for one of India’s leading bitcoin exchanges; Coinsecure. Over $3.6 million worth of the world’s leading digital currency was stolen from the firm’s crypto wallet, due to alleged negligence on the part of the exchange’s chief security officer. Now, the company has announced that victims of the theft would have to wait…

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Hackathons existed long before the emergence of cryptocurrencies and blockchain technology. They typically were events of varying duration where tech minds gathered around to brainstorm ideas and proffer solutions to nagging issues in their industries. However, like almost everything in the world of tech and finance, blockchain technology is causing a revolution. A Growing Trend: Collaborative Problem-Solving There has been…

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The controversial crypto exchange Bitfinex publicized its plan to launch a new decentralized cryptocurrency exchange, dubbed EOSfinex. In an industry where cryptocurrencies are typically decentralized, it comes as a surprise that more marketplaces don’t also represent this characteristic. Further, centralized exchanges can charge exorbitant fees for transactions and are prone to hacks. Decentralized Exchange for Decentralized Cryptocurrencies The introduction of…

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Another hack in the cryptocurrency world. What else is new? Well, this time security companies are getting involved to expose the hackers (successfully), and the hackers chose to use Google Ads to hack their victims. The total damage was approximately $50 million over the course of three years using a very basic phishing technique. Cryptocurrency, A Regular Target Cryptocurrencies are…

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Japanese insurance giant Mitsui Sumitomo Insurance, as revealed by Nikkei Asian Review, will be launching insurance coverage for cryptocurrency exchanges, designed to insure against damages and losses resulting from cyber attacks and operational issues. The new insurance product is being developed in partnership with Tokyo-based bitcoin exchange bitFlyer, aimed at protecting both exchanges and their customers against losses. The coverage…

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