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How One Line of Code Destroyed Yam DeFi

The now notorious project, Yam.Finance, was launched without a proper code audit just like many other projects in the space. Richard Ma, the CEO of blockchain security company Quantstamp, told Cointelegrpah that many DeFi projects are launched unaudited in order to capitalize on reverse psychology:“Not having an audit is currently seen as a good way to use reverse-psychology to do marketing.” He added, “It creates the perception that these projects are so in-demand,...

Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos

Bitcoin educator Andreas Antonopoulos says he would like to see more privacy features on Bitcoin, but they’re unlikely to happen anytime soon.In a livestream Q&A on Antonopoulos’ YouTube channel on July 7, he said Bitcoin (BTC) was unlikely to ever implement privacy features similar to those used by Monero (XMR).Antonopoulos said creating such features on a cryptocurrency like BTC “would create an enormous amount of controversy.” In addition, he said the structure of...

Developer Who Successfully Hacked Bitcoin Wallet Ensures Bitcoin Is Still Safe

John Cantrell, Bitcoin and Lightning Network project developer, recently revealed he had successfully hacked a Bitcoin address. His article, however, received a number of responses with many concluding Bitcoin isn’t secure. Cantrell felt people missed the point of the exercise so, in a tweet thread on June 19, explained and ensured people that despite hacking a wallet, Bitcoin is still safe. Takes forever to crack the wallet According to Cantrell, bitcoins stored in a wallet...

Bancor Discovers Critical Vulnerability, Hacks Itself to Prevent Theft

The newest release of the Bancor decentralized exchange appears to be vulnerable to a very serious bug that can result in a significant loss of user funds.According to the tweet posted by Bancor on June 18, the vulnerability affects the latest version of the BancorNetwork smart contract, which was launched on June 16.Users who traded on Bancor and gave a withdrawal approval to its smart contract are urged to revoke it through a...

Dark Web Merchants Sell Thousands of Stolen Credit Card Numbers

New research by cybersecurity firm, Cyble Research Team, revealed that on May 29, data for more than 80,000 credit cards were put up for sale on the dark web. The data from these cards appears to have been gathered from various countries around the world.According to the announcement, the data leak involved credit card details from various countries, such as the United States (33K), France (14K), Australia (5K), United Kingdom (5K), Canada (2K),...

Ransomware Hackers Threaten to Release Credit Card Data From Costa Rican Bank

A group of hackers dubbed Maze claims to have compromised the infrastructure of Banco BCR, a Costa Rican state-owned bank, and is now threatening to leak millions of credit card numbers.On April 30, Maze claimed that it has scoped out the bank in August 2019:“According to Financial Institutions Protocol this bank had to notify other institutions about the security breach case. But nothing was made. Servers and workstations were not blocked. Private data...

Survey Shows Many BTC Holders Use Hardware Wallet, Have Backup Keys

A survey posted to Reddit shows that most crypto holders store the majority of their Bitcoin in hardware wallets and keep a backup of the private keys on a sheet of paper. Reddit user gunnaj posted the results of the survey as part of his PhD thesis to Reddit on April 30. The doctoral student asked 339 people five questions related to Bitcoin (BTC) security, focusing on how crypto holders handle their private keys.When...

Bitcoin in the Palm of Your Hand — Crypto Hardware Wallets Review

A hardware wallet may just be the safest way to store cryptocurrency for average users. Nowadays, many different devices are trying to tackle the challenges of secure crypto asset storage. In this article, Cointelegraph will review some of the most well-known hardware wallets and compare their features.The cryptocurrency wallets that will be covered in this article are Ledger’s Nano X and Nano S, SatoshiLabs’s Trezor One and Trezor Model T, ShapeShift’s KeepKey,...

Telos Foundation Removes Board Member After Security and Centralization Disputes

The Telos Foundation — the organization behind smart contract platform Telos (TLOS) — has taken action against two of its board members following a network security controversy.Telos is a platform that supports the creation of decentralized applications (DApps) and decentralized autonomous organizations (DAOs) running on EOS.io, the software underlying the EOS blockchain.In a blog post published on March 22, the foundation announced that it had made “appropriate adjustments to its board and...

ING Backed Hqlax to Target Institutional Investors, Says Platform’s COO

Following an undisclosed investment into Hqlax from Dutch multinational bank ING on March 6, Cointelegraph spoke to Nick Short, the COO of tokenized securities firm.Short describes ING as one of the company’s “longest-standing strategic partners,” emphasizing that the two firms have collaborated in developing and testing Hqlax’s tokenized securities platform for over two years.The two companies first partnered in 2017, with Hqlax launching an initiative to “develop DLT-driven solutions for more efficient...
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