DeFi security: How trustless bridges can help protect users


Trustless bridges enable cross-chain transfers without needing a centralized custodian, potentially making it a safer option for interoperability. Blockchain bridges allow decentralized finance (DeFi) users to use the same tokens across multiple blockchains. For example, a trader can use USD Coin (USDC) on the Ethereum or Solana blockchains to interact with the decentralized applications (DApps)

Web3 Foundation makes bold claim to SEC: ‘DOT is not a security. It is merely software’


According to CLO Daniel Schoenberger, the team developed a “workable theory of how token morphing may be achieved” for DOT based on the SEC’s concerns and federal securities laws. The entity supporting research and development of Polkadot as well as overseeing fundraising efforts for the blockchain has argued that the United States Securities and Exchange

Five Reasons Bitcoin Will Replace Credit Cards


Using a credit card to pay for purchases has negative implications for businesses and consumers. Bitcoin provides a better, alternative payment method.Contrary to some predictions, Bitcoin is quickly becoming an accepted means of conducting transactions. Major companies like online retailer and mobile provider AT&T already allow customers to pay in bitcoin. And the list…

Ripple CEO: SEC case is going ‘much better than I hoped’


Ripple CEO Brad Garlinghouse told attendees of the Paris Blockchain Week that the ongoing case with the SEC is going exceedingly well. Ripple CEO Brad Garlinghouse is increasingly optimistic that the long-running case with the Securities and Exchange Commission (SEC) will deliver a positive result for the blockchain-based global payments company. Speaking on the main stage…

NFT marketplace bug undervalues tokens, helps exploiter nab $750,000


The NFT marketplace bug was reportedly discovered on Dec. 31, which showed transferred NFTs as listed on OpenSea. A bug in the front end of popular nonfungible token (NFT) marketplace OpenSea has reportedly led to an exploit allowing users to buy popular NFTs at their previous listing price.The bug seems to be prevalent with Bored…

Bitcoin Security: Trustless Private Messaging With Public And Private Key Cryptography


Message privacy, increasingly important to Bitcoiners, can be achieved with public and private key cryptography.As a Bitcoiner, you’re going to need a secure way to communicate privately, without relying on a company to encrypt your data for you. For example, freely available methods with end-to-end encryption like Telegram (not with its default option) and Signal…

Coinbase Reveals Massive Hack of User Accounts: Over 6,000 Customers Lost Funds


The Nasdaq-listed cryptocurrency exchange Coinbase has disclosed that at least 6,000 users were victims of a hacking campaign to gain unauthorized access to the accounts of Coinbase customers. The hackers also took advantage of a flaw in Coinbase’s SMS Account Recovery process to gain access to user accounts. Cryptocurrencies of at Least 6,000 Coinbase Customers…

M31 Capital is looking to launch a new Bitcoin hedge fund


The M31 Capital Bitcoin Access Fund could provide institutional investors with another avenue for investing in BTC. M31 Capital, a New York-based global investment firm, has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a new Bitcoin (BTC) hedge fund. The proposed fund, dubbed M31 Capital Bitcoin Access Fund, is…

XRP the ‘third largest collapse of all time’ says The TIE’s Josh Frank


The token has lost more value than former commodities trading giant Enron. The XRP token’s market capitalization has fallen almost $130 billion since its all-time high in 2018, making the cryptocurrency project’s decline comparable to the collapse of major financial institutions.According to Josh Frank of crypto-focused research company The TIE, the project is experiencing a…

Coinbase announces it will suspend XRP trading as price drops another 10%


Coinbase plans to suspend trading for the token on Jan. 19 but added it “may be halted earlier as needed.” Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the United States Securities and Exchange Commission taking legal action against Ripple.According to a blog post published today by Coinbase chief legal officer…

Avoiding Scams & Phishing


As with any financial product, it is your responsibility to ensure you are not putting yourself at risk for scams or phishing attacks. Scams and phishing attacks are common types of fraud that seek to deceive you and take control of your assets.If you are using a self-custody Bitcoin wallet, anyone who has your private key…

Today’s clients demand that banks show cybersecurity chops, says JPMorgan leader


New technology also means new responsibilities. Security is key in the digital age. As internet banking comes of age, so too do new ways of stealing funds. That makes cybersecurity central to modern banking, according to David Leach, JPMorgan Chase’s Asia-Pacific head of cybersecurity and technology controls.”It’s a competitive disadvantage not to have a robust…

Ledger’s recent security audit was unconnected to their data breach in June


It seems the review was already in process before the attack ever occured. Popular hardware wallet company Ledger recently announced that they had passed a notable security evaluation, known as SOC 2 Type 1. This certification came following a significant data breach the company suffered in June. Ledger did not, however, decide to conduct its…

Most crypto exchanges are vulnerable by design, says Bybit CEO


He isn’t surprised attacks happen. Crypto exchange security is once again in the news after hackers breached KuCoin. But this shouldn’t surprise people as exchanges are vulnerable by design, according to Bybit CEO Ben Zhou. Zhou told Cointelegraph that exchanges act as a single point of failure. As a centralized web application, exchanges are susceptible to…

Introducing Cloud Backups


We’re pleased to announce the integration of Cloud Backups for the Wallet, solving the age-old catch-22: how to make controlling your money both easy and secure.Non-custodial wallets have always been a unique feature of crypto. They allow complete user sovereignty by ensuring that only those who control the private keys have access to an account.…

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