Category: Hack

Bitcoin History Part 16: The First Mt. Gox Hack

Bitcoin History Part 16: The First Mt. Gox HackNo one remembers the first Mt. Gox hack. It was a small sum, even by 2011’s standards, and the exchange reimbursed all users. The incident was to prove significant, however, for it set in motion a string of attacks on other bitcoin platforms that began the very next day. By the time the dust had […]

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Latest Hack Sparks Concern Whatsapp Will Never Be Secure

Latest Hack Sparks Concern Whatsapp Will Never Be SecureFacebook’s popular messaging app with 1.5 billion users in over 180 countries has another major vulnerability. Hackers were able to covertly install spyware on iOS and Android smartphones using Whatsapp with just a phone call. “All of their security issues are conveniently suitable for surveillance, and look and work a lot like backdoors,” said Telegram’s […]

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Major Players Discuss BTC Rollback Following Exchange Hack

Major Players Discuss BTC Roll-Back Following Exchange HackThe idea of rolling back the clock on cryptocurrency transactions to reverse a situation people are unhappy with is highly contentious. As such, many were shocked to hear that a number of major players in the industry had even discussed a rollback of BTC following the Binance exchange hack. Also Read: Keys4coins Lets You Buy […]

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In the Daily: $4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return

In the Daily: $4K Bitcoin, Grin Fund Grows, Cryptopia Wallets ReturnIn the first weekend despatch of The Daily, we share some of the exuberance that’s greeted BTC passing the symbolic $4K threshold. We also check up on how the Grin developer fund is going and the progress that Cryptopia exchange is making in returning to full strength in the wake of its hack. Also read: […]

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Bitcoin Exchange Gatecoin Shuts Down Citing Financial Difficulty

Bitcoin Exchange Gatecoin Shuts Down Citing Financial DifficultyHong Kong-based bitcoin exchange Gatecoin has said it is shutting down citing financial difficulty. The exchange suffered a $2 million hack in 2016 and hasn’t been able to recover the funds. However, Gatecoin blames a registered French payment service provider for paralyzing its operations. The payments company allegedly duped the exchange out of an unspecified […]

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Cryptopia Lost Almost a Tenth of Its Assets in January Hack

Cryptopia Estimates 9.4% of Total Assets Stolen During January HackNew Zealand cryptocurrency exchange Cryptopia has published a series of tweets detailing the extent of the losses it suffered during an attack by hackers in January. It said: “We have calculated that worst case 9.4 percent of our total holdings was stolen.” Also read: 125-Year Old Swiss Bank Julius Baer Enters Cryptocurrency Market ‘Securing Individual […]

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Bitfinex Recovers $106,000 of Stolen BTC With US Government Help

Bitfinex Recovers $106,000 of Stolen BTC With U.S. Government HelpBitfinex has recovered 27.7 bitcoin stolen by hackers in August 2016, the company said on Monday. The coins, worth around $106,000 at the time of writing, represent only a small fraction of the total BTC stolen. U.S. federal law enforcement agencies recovered the bitcoin and returned it to the cryptocurrency exchange. Also read: State Treasurer: […]

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Hacked NZ Exchange Cryptopia Allowed to Reopen

Hacked NZ Exchange Cryptopia Allowed to ReopenDigital asset exchange Cryptopia has been given the green light to open again after New Zealand police announced they have almost completed their investigation at its offices. The crypto trading platform suffered a security breach last month when, according to one estimate, as much as $16 million worth of cryptocurrency was stolen. Also read: Brazilian […]

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Coincheck Registers 1.7M New Users Since Resuming Operations Last October

Coincheck Registers 1.7M New Users Since Resuming Operations Last OctoberCoincheck has reported 1.73 million downloads of its mobile app since the Japanese cryptocurrency exchange resumed new account signups, withdrawals, deposits and limited trading in October. By the end of December, more than 900,000 of the new users had gone on to confirm their identities, in what looks like a remarkable comeback for an exchange […]

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The Daily: Fidelity Crypto Custody Update, Cryptopia Hack Continues

The Daily: Fidelity Crypto Custody Update, Cryptopia Hack ContinuesIn today’s edition of The Daily we feature a number of stories about financial companies adding cryptocurrency-related services including a custody solution from Fidelity and new CFDs for trading BCH vs precious metals. We also cover the latest update about the ongoing Cryptopia hack. Also Read: Report: Two Hacker Groups Stole $1 Billion From Crypto […]

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The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers VulnerabilityIn today’s edition of The Daily we feature another recent example of venture capital infusion into the cryptocurrency space as Japan’s SBI invests in the BRD wallet. We also cover a recent security vulnerability that was detected on the P2P exchange Localbitcoins, and a new AML/KYC compliance solution for stablecoins. Also Read: Galaxy Digital Is […]

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$16 Million Now Believed to Have Been Stolen in ‘Weird’ Cryptopia Hack

$16 Million Stolen in 'Weird' New Zealand Cryptopia Exchange HackDetails have so far been murky regarding millions of dollars worth of tokens stolen from New Zealand-based cryptocurrency exchange Cryptopia on Jan. 14. But data company Elementus has been investigating and now says the hack was different from previous attacks of this nature – and the amount stolen is much higher than originally thought.  Also […]

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Bitcoin History Part 7: The First Major Hack

Hacks and heists have been a threat for as long as bitcoin has been worth stealing. By 2011, as Bitcoin was easing into its second year of life and its first bubble, early cryptocurrency exchanges were bringing liquidity and price discovery to the nascent ecosystem. At the same time, they were providing an outlet for […]

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Former Mt. Gox CEO Says He Is Sorry But Maintains His Innocence as Trial Closes

Mark Karpeles, the former chief executive officer of the now-defunct Mt. Gox, has reportedly apologized for the losses that led to the demise of the cryptocurrency exchange. However, the embattled Frenchman insisted on his innocence regarding charges of embezzlement in closing arguments during his trial in Tokyo on Dec. 27. Also read: Wine Retailer to Buy […]

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Chatter Report: Vitalik Doesn’t Believe in Proof of Work, Chris Pacia Discusses Big Blocks

Vitalik Doesn’t Believe in Proof of Work, Pacia Clarifies Stance on Large BlocksIn this latest roundup of crypto chatter from social media, Vitalik Buterin sparks debate by declaring that he doesn’t believe in proof of work. Also, developer Rhett Creighton is accused of foul play in the Bitcoin Private pre-mine scandal. Finally, Chris Pacia clarifies his stance on large block limitations. Also read: A Look at Some […]

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Japan Publishes Draft Report of New Cryptocurrency Regulations

Japan Publishes Draft Report of New Cryptocurrency RegulationsJapan’s Financial Services Agency has published its draft report outlining new cryptocurrency regulations. The report contains measures in areas that are not currently addressed in existing laws such as hacking incidents, self-regulation, deemed dealers, privacy coins, and margin trading. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations New Crypto Regulatory Framework […]

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Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund Grows

In recent crypto exchange news, Coincheck has successfully reinstated deposits and trading services for all cryptocurrencies that were live on the exchange before it was hacked in January. Bhex, an exchange founded by Huobi’s former chief technology officer, has announced that it will start operations at the end of the month, while 1,452.6 BTC was […]

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Fisco Completes Takeover of Japanese Crypto Exchange Zaif

Fisco Completes Takeover of Japanese Crypto Exchange ZaifRegulated Japanese cryptocurrency exchange Zaif has completed its business transfer. Fisco Cryptocurrency Exchange is its new operator, taking over from Tech Bureau. This follows Zaif’s September hack, which cost the exchange approximately $62 million in three different cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space One Operator, Two Separate Exchanges Osaka-based Tech Bureau […]

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Coincheck Reports Deepening Losses of $5.3 Million in Third Quarter

Coincheck Reports Deepening Losses of $5.3 Million in Third QuarterCoincheck reported a pre-tax loss of 588 million yen (US $5.3 million) for the third quarter of 2018, the Japanese exchange’s second consecutive quarterly loss since hackers pilfered $530 million in January. That’s an increased deficit of 130 percent from the 259 million yen ($2.3 million) loss the previous quarter. Also Read: French Business School Fees […]

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Rumors of Exit Scam Swirl as Maplechange Loses Funds in Hack

Maplechange, a small Canadian cryptocurrency exchange, has ceased operations following the purported theft of all the funds it was holding. Despite promises of an investigation into the matter, many have accused the exchange of attempting to stage an exit scam. Also Read: Japanese Regulator: Stablecoins Are Not Cryptocurrencies Under Current Law Canadian Exchange Drained of Holdings […]

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PR: trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders

trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO HoldersThe trade.io security team was alerted to a large transaction originating from our wallet holding 50M Trade Tokens (TIO) owned by trade.io reserved for the liquidity pool. Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deteriorating and helped quarantine the issue.

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US Federal Court Fines Bitcoin Ponzi Schemer Over $2.5 Million

US Federal Court Fines Bitcoin Ponzi Schemer Over $2.5 MillionA U.S. federal court has fined a New York firm and its chief executive officer over $2.5 million in the first anti-fraud action involving bitcoin filed by the Commodity Futures Trading Commission. The Ponzi scheme involved a fake pooled investment strategy and a “fake computer ‘hack’ that supposedly caused the loss of nearly all customer funds,” […]

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Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member RegistrationsThe largest crypto exchange in Japan, Bitflyer, has announced a major organizational overhaul. A new representative director has been appointed to oversee the exchange’s day-to-day operations. Meanwhile, hacked crypto exchange Zaif has stopped accepting new customers as regulators ramp up oversight of exchange operators. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals […]

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54% of Cryptocurrency Exchanges Have Security Holes

Traders hope and expect the exchange they’re trading on takes security seriously. But while all crypto platforms pay lip service to good cybersecurity practices, many fail at even the most basic measures such as enforcing strong passwords. New research has found 54% of all cryptocurrency exchanges have poor security in at least one area, leaving […]

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