Gate.io will reimburse the $200,000 lost by users due to the attack of 51% on Ethereum Classic

Representatives Of The Gate.io said that the exchange will cover losses on approximately 40 thousand ETC (about $200 thousand) incurred by the users due to the ongoing «attack 51%» on the Ethereum blockchain Classic.

In his blog, the company confirmed that «the attack 51%». In addition, the exchange has listed three addresses controlled, in her view, the attacker:

0xb71d9CD39b68a08660dCd27B3EAE1c13c1267b10
0x3ccc8f7415e09bead930dc2b23617bd39ced2c06
0x090a4a238db45d9348cb89a356ca5aba89c75256

«Gate.io originally was able to successfully block the transaction of the attacker, sending them to manual review. Unfortunately, during the attack, all the transactions look valid, and was successfully confirmed in the blockchain, write the representatives of the exchange. — The reviewer missed transaction. This resulted in the loss of around 40 thousand ETC during the attack. Gate.io will take all the losses»user

Information about the attack was confirmed by the crypto currency exchange Coinbase. Monday, January 7, it announced revealed double spends as a result of a deep reorganization of the blockchain Ethereum Classic.

That attack is still ongoing, said the company also Bitfly.

According to the head Blockscout Andrew Cravero, he «100 percent» sure that was a double waste of the Ethereum blockchain Classic. He noted that the reorganization occurred between blocks 7261495 and 7261496. Waste 26 000 ETC happened on the block 7261492, and then on 7261497.

He also added that it is unlikely that these dramatic events associated with the testing of ASIC devices.

«If I tested new hardware, hardly used $100 thousand per transaction», — he added.

The opinion of Cravegna agree the developer of Ethereum Classic Donald McIntyre. According to him, the incident is a classic example of «attack 51%».

McIntyre is a supporter of amending the PoW-algorithm mining Ethereum Classic. He is confident that this step is necessary in the short term and it may prevent further reorganization of the blockchain. McIntyre also added that ETC-the developers are working to resolve the problem.

Journal ForkLog, in turn, continues to monitor developments.

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The number of buyers in OTC cryptocurrency platform Cumberland exceeded the number of sellers

Representatives of OTC cryptocurrency dealer Cumberland reported that last week the volume of demand for their OTC platform for the first time exceeded the volume of supply.

According to representatives of the company informed on their platform, the demand was about equal to supply. Only last week, the scales tipped in favor of buyers. The specific weight of the past on the market now approximately 60%.

Cumberland is based in Chicago subdivision cryptocurrency trading company DRW Holdings LLC.

Recall Genesis Trading, Trade Cumberland Circle and provide details of their OTC platforms chart of MVIS Bitcoin US OTC Spot Index from the company VanEck.


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Grayscale Investments: the course zcash for could reach $60 000 by 2025

In the fall of 2017 Grayscale Investments, one of the largest venture capital firms with a focus on cryptocurrencies, has added to its portfolio zcash for. Recently the company has published the «investment thesis» – a document that explains this choice.

Document author Matthew Buck (Matthew Beck) with the help of financial modeling has found that by 2025, the rate may exceed the zcash for $60 thousand That’s 150 times the current level (about $400).

However, this scenario is possible only in the case that by 2025 zcash for will account for 10% of all offshore funds. If the share of crypto-currencies is 1%, its price can reach $6000. The author notes that all named figures are only assumptions.

Regarding the choice of a Grayscale Investments in favor of zcash for, it is dictated by the following considerations:

  1. Zcash for similar to Bitcoin. The zcash for developers were not re-invent the wheel and adopted the strengths of bitcoin. This applies both economic models (limited emission, deflationist) and techniques (decentralisation, the inability to change entries in the blockchain). Grayscale describes the attributes of the zcash for as «similar to precious metals, Bitcoin and Ethereum Classic» that allows you to hedge inflation risks in the long term.
  1. Privacy policy. The zcash for team has developed advanced technology in the field of protecting the privacy of zk-SNARKs. In Grayscale I think that this innovation allows to improve the blockchain of bitcoin. «We consider the ZEC as the first available on a global scale the ability to «offshore» investments – in other words, the Swiss Bank in a pocket», – the report says the company.
  1. Interchangeability. So-called private transactions allow users to hide details of its payments and, therefore, do not allow anyone to discriminate coins based on their history. This property, known as interchangeability, «we need to [currency] has become a liquid medium of exchange», – the document says.

Among other advantages zcash for listed in the document Grayscale, are an experienced team; a partnership project with JP Morgan Chase and the potential of using zcash for world trade.

In Grayscale Investments also announced that by the end of the first quarter of 2018, plans to create five new cryptocurrency funds.

Recall that in 2018, the team zcash for planning a series of network upgrades. This is evidenced by the roadmap, published in December. The co-founders of the project Zuko Wilcox and Nathan Wilcox described in detail two key updates: Overwinter and Sapling. Last was already mentioned in the beginning of 2017. Aim of the update is «further improvements in productivity, security and ease of use zcash for».

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DHS, the U.S. has provided $1.5 million for the development of blockchain solutions

The Department of homeland security United States (DHS) has given grants of $750 thousand each to the two blockchain startups: Digital Bazaar and Evernym. Companies will need to develop commercial solutions based on blockchain technology – both for private and for public use.

In the second phase of funding from the management of «Science and technology» startups, DHS was asked to consider four options:

  • Devices and sensors Internet of things (IoT);
  • Registration of international tourists;
  • The promotion of border trade;
  • Identity management.

The allocated funds were obtained from program Small Business Innovation Research (SBIR). The Foundation also supports the creation of structural elements for technological solutions, including the development of standards for this technology.

What do startups

Evernym promoting the project for the development and implementation of decentralized system control keys to the Blockchain. The company mainly focuses its efforts on solving of problems that may occur when the user key in the blockchain wallet are cancelled or reissued.

According to the research Manager in the field of cybersecurity, DHS Anil John, that’s what the Agency is strongly interested:

«You have to have control over the blockchain wallet when conducting appraisals or operations associated with any type of blockchain. We are interested in how to resolve what happens in those situations when the key as the base level of technology needs to be revoked or reissued to scale it.»

Digital Bazaar , in turn, is working on a project which will provide interoperability between 15-20 platforms that are used to implement the Blockchain.

John said that the Agency seeks to create a standardized approach to data management that can used by the government, the private sector and other stakeholders.

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The price of Ripple has exceeded $3, and continues to grow

The second market capitalization, the cryptocurrency continues its rapid growth. According to CoinMarketCap, the price of Ripple ran $3 per token at 19:34 Kyiv time.

The price of Aldon began to grow faster than the market rate on the wave of popularity Ripple users from Japan and South Korea, after reporting on the implementation of the banks of the two countries cross-border payments on the basis of RippleNet. And on the background of General growth in popularity of altcoins investors.

As a result, 21 December the price of Aldon surpassed $1 for a token, and December 29 at $2. Ripple surpassed the market capitalization of Ethereum for a long time occupied second place, and is now close to 50% of the capitalization of bitcoin.

 

We will remind that in December, Ripple has been added to the Bloomberg Terminal, along with Litecoin, and Ethereum. Also last month, the Board of Directors of a startup

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In Brazil, drug traffickers launder money through bitcoins

Brazilian police have arrested 12 people suspected of using cryptocurrency to launder “millions of dollars” obtained from drug smuggling.

The detention was carried out in the framework of operation Antigoon conducted by the Federal police and the tax Agency of the country. In addition, law enforcement officers seized in the country’s ports more than 4 tons of cocaine intended for shipment to Europe, Asia and Africa. All this was the result of the investigation, which was conducted over 15 months by the Federal police and the Federal revenue service.

As explained to law enforcement, Brazil was used as a corridor through which the drugs from Colombia, Peru and Bolivia were transported further. The representative of the Federal police Carlos Eduardo Tomé (Carlos Eduardo Thomé) said that we are talking about millions of dollars and the gang used bitcoins and other cryptocurrencies to deceive the regulatory authorities.

“The gang received part payments in virtual currencies to impede their tracking and to avoid large, unusual cash transactions,” he added.

The Brazilian police said that through the mechanisms of international cooperation were also detentions and searches at the ports of Europe.

We will remind that as a result of recently conducted the largest operation of Europol from the darknet drug dealers seized $5.2 million in the cryptocurrency.

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Wallets Mobi Bitwala, Xapo and Shakepay cease to serve debit card non-EU nationals

After the operators cryptocell and Shakepay Xapo bitcoin exchange of the BTCC have announced that multi-currency wallet Mobi from October 15 will no longer serve debit card non-residents of Europe. The same decision was made by the creators of the bitcoin wallet Bitwala.

The company explain their actions to the licensing restrictions imposed by payment system VISA.

The BTCC has already stopped the production of cards Mobi Visa for non-residents of the following territories: Andorra, Austria, Guernsey, Bulgaria, Bulgaria, Canary Islands, Croatia, Cyprus, Czech Respubliki, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of man, Israel, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and the UK.

BTCC apologized to customers for the inconvenience and promised to provide an alternative to debit card. And Bitwala announced that it will return funds to all non-residents of Europe who ordered a debit card after 9 August.

Recall that the new VISA restrictions appeared on August 21.

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Weiss Ratings: XRP will surpass bitcoin in market capitalization

Analysts of the rating Agency Weiss Ratings has expressed the view that in the coming years, the digital asset XRP will surpass the first cryptocurrency by market capitalization.

«The payment network, usually to society more value than a store of value. That’s why we expect payment network like XRP will surpass BTC in terms of capitalization in the coming years»

Twitter users immediately criticized this statement:

«A big change. I remember that in 2018 XRP wasn’t even in the rankings for your website»

User Crypto Kevin dared to assume that it will happen before the year 2100, because these processes occur slowly:

Bitshares World noted that the volume of the market of gold more than the capitalization of all existing payment networks:

Previously, Weiss Ratings analysts expressed the opinion that some altcoins will be able to return to the price highs and even grow 20 times.


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The Japanese government will close loopholes to unregistered companies critobulus

The financial services Agency of Japan (FSA) intends to remove legal gaps that allow unregistered investment companies to raise funds in bitcoin, according to CryptoNews.

In particular, the FSA intends to revise the existing in this sphere standards and to bring them into line with the Law on the financial instruments and exchanges. Currently regulations prohibiting the creation of unregistered investment schemes that relate only to Fiat money.

The problem of imperfection of the financial legislation actualized after the Japanese authorities in November arrested the creators of cryptovirology, gathered 7.8 billion yen (about $69 million).

A timeline for amending the legislation is not known.

ForkLog previously reported that the FSA against cryptocurrency derivatives, however, does not exclude the possibility of launching a bitcoin ETF.


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Media: OKEx and Huobi-Pro are planning to launch P2P trading of bitcoin

Exchanges Huobi and OKEx-Pro are planning to launch P2P trading of bitcoin with support for Fiat currencies, including the Renminbi. CoinTelegraph reported citing a Twitter channel cnLedger. If this information proves true, and soon Chinese traders will be able to return to their favorite sites.

Both exchanges announced the termination of its activities in September, after obtaining appropriate orders from the Chinese authorities. Now cnLedger hinted that through as yet unknown mechanism they will open access to trading to Chinese traders.

Exchange OKEx reminded its users about the termination of trading yesterday, October 29. At the same time about his future plans, the company is not reported, but suggested to follow the updates.

A day earlier, on October 28, it became known that on 1 November will start its work a new cryptocurrency exchange ZB.com. Representatives of the platform said that the service will be available around the world, including mainland China. The website ZB.com launched in Chinese and English. There are rumors that this exchange is the Chinese government.

We will remind that on 24 October the 19th Congress of the Communist party of China. According to some experts, now local authorities may soften their policy towards cryptocurrency and ICO.

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