ancona
Praying Mantis
I was talking with a friend who told me that another digital currency exchange got hacked and looted. Anyone have the particulars on that one?
Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
Bitcoin bank Flexcoin said on Tuesday it was closing down after it lost bitcoins worth about $600,000 to a hacker attack.
Flexcoin said in a message posted on its website that all 896 bitcoins stored online were stolen on Sunday.
"As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately," the company said. ...
...
Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta was found dead in her Singapore apartment on Feb. 28.
Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results. Ratke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.
...
The mainscream media is five to eight years behind us when it comes to "finding Jesus" moments.
After suffering a crippling hack earlier this week, Hong Kong-based bitcoin exchange Bitfinex said it may spread the loss among its users, including ones not directly impacted by the hack.
“We are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions,” the exchange wrote in a blog post Friday. Bitfinex is still “settling positions and balances,” and will provide more details soon, it said.
This week’s attack is potentially the second-largest on an exchange since Japan’s Mt. Gox, and could further erode confidence in the virtual currency. Bitfinex was the largest exchange for U.S. dollar-denominated transactions over the past month, according to bitcoincharts.com, and the attack sent bitcoin’s price plunging more than 20 percent.
...
On Tuesday, Bitfinex disclosed that hackers stole 119,756 bitcoin, or about $68 million at current values, from the exchange. It closed down trading, withdrawals and deposits and said it was cooperating with law enforcement and would update the public after its investigation. Bitcoin has recovered some of its decline earlier this week, and traded at $572 per dollar as of 5:25 p.m. in Tokyo, down 13 percent for the week.
...
... I haven't gotten involved with bitcoin but I plan to in the future. Any advice?
The price of bitcoin took a dive Tuesday, falling by more than $200 in under 20 minutes, a move that could have been the result of a single seller unloading a sizeable amount of the digital currency.
The balance of wallet 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r — an anonymous digital account which is valued at $1.49 billion — fell by 6,500 bitcoin Tuesday, with the average sale price sale being $8,146.70, a total value of just over $50 million, according to bitinfocharts.
The sale comes a day after the third-largest wallet, which famously purchased over $400 million in bitcoin in February, let go of 6,600 bitcoin at an average price of $8,026. All told, the two whales dumped over $100 million of bitcoin within 24 hours.
...
Coinbase has frozen trading of Ethereum Classic (ETC) as developers continue to clarify reports that the coin’s network suffered a blockchain reorganization attack.
...
Vertcoin and Bitcoin Gold have also suffered 51 percent attacks in 2018, proving that market capitalization is a poor metric for measuring network security.
...
If you harbored any doubts that the crypto industry is going through troubled times, then doubt no more. And if you thought we had heard the last of large-scale crypto exchange hack schemes like the infamous long-defunct Mt. Gox—the Lehman Brothers of crypto--brace yourself for a nasty surprise. Binance, one of the world’s biggest and most reputable digital token exchanges, has just reported what appears to be its largest hack to date.
In a post on the company’s site on Tuesday, CEO Changpeng Zhao, fondly known as CZ, has revealed how hackers targeted a single account and spirited off 7,000 bitcoin, worth ~$40.8 million at the current price of $5,828.
...
Lost among the current bout of cryptocurrency euphoria is the fact that capital outflows are exceeding inflows on some of the biggest digital-asset exchanges.
While that may sound counter intuitive to the basic laws of supply and demand with prices of Bitcoin and other tokens surging, it’s not that rare an occurrence in a market that has been dogged by allegations of fraud and manipulation over its decade long existence. TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded inflows by about $622 million over the past 5 days.
Bitcoin’s more than 30% price rise since last week may have been exaggerated by capital flight from the controversial exchange Bitfinex and its affiliated stablecoin Tether in the wake of allegations that the companies that control both co-mingled client and corporate funds to hide losses. As in past periods of turmoil, investors are seen seeking the safety of Bitcoin because it’s the largest and most liquid token.
“Since Tether is insufficiently backed, it means that some of the reserves backing customer assets on exchanges are likely insufficient,” John Griffin, a finance professor at University of Texas at Austin who had examined cryptocurrency market manipulation, said in an email. “So smart customers will not custody their funds on exchanges and pull their crypto off exchanges. This could put further upward pressure on Bitcoin prices as one would rather take fake money and exchange it to Bitcoin.”
...
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?