Category: blockchain

Bitcoin Gold hit by 51% attacks, $72K in cryptocurrency double-spent


Malicious cryptocurrency miners took control of Bitcoin Gold‘s blockchain recently to double-spend $72,000 worth of BTG. Bad actors assumed a majority of the network‘s processing power (hash rate) to re-organize the blockchain twice between Thursday and Friday last week: the first netted attackers 1,900 BTG ($19,000), and the second roughly 5,267 BTG ($53,000). Cryptocurrency developer James Lovejoy estimates the miners spent just $1,200 to perform each of the attacks, based on prices from hash rate marketplace NiceHash. This marks the second and third times Bitcoin Gold has suffered such incidents in two years. Double-spenders like to target cryptocurrency exchanges Any entity…

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Moonday Mornings: Ex-employee steals $715K in Bitcoin from cryptocurrency fund


Welcome to Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines. Let’s make haste and waste no time. Check it out. 1. Iran issues more than 1,000 cryptocurrency mining licenses According to a report from news.bitcoin.com, the Iranian government has reportedly issued more than 1,000 cryptocurrency mining licenses to businesses in the country since it began regulating the industry, news.bitcoin.com writes. [Read: Iranian gov reportedly offering bounties to those who rat out illegal Bitcoin mines] Cryptocurrency mining in Iran is somewhat of a gray area. It’s technically illegal, but only if you’re unlicensed. It looked a…

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Report: Japan is working on its own digital currency in retaliation to China’s


A group of lawmakers in Japan are reportedly working to create a state-issued digital currency. According to Reuters, one of the lawmakers said its creation was a direct response to Facebook‘s Libra and China’s digital yuan. [Read: Japan doesn’t want to fight Facebook’s ‘cryptocurrency’ Libra on its own] “China is moving toward issuing digital yuan, so we’d like to propose measures to counter such attempts,” Norihio Nakayama, parliamentary vice minister for foreign affairs, told Reuters. Indeed, Japanese lawmakers have spoken out against the digital yuan, saying that it would be a “very serious problem” if it becomes well-used for international…

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PornHub content creators can now cash out in Tether


PornHub‘s content creators can now cash out their earnings in Tether cryptocurrency, two months after PayPal dropped support for the adult entertainment giant. According to PornHub‘s blog, models can now use cryptocurrency wallet TRONlink to withdraw money in Tether, a stablecoin pegged one-to-one with the US dollar. [Read: Pornhub says less than 1% of users buy subscriptions with cryptocurrency] “USDT transactions can be done globally within a few seconds and there are no fees,” said PornHub. This marks the second cryptocurrency adopted by the site, which began supporting payments in niche cryptocurrency Verge in 2018. Tether an extra hoop for PornHub’s content creators…

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Cardano’s Q4 price performance leaves a lot to be desired, 2020 must be better


There’s more to cryptocurrency and blockchain than Bitcoin and Ethereum. There are many other competing coins and blockchain platforms, one of which is Cardano. Cardano is an open-source blockchain and smart contracts platform, which is fueled by its namesake cryptocurrency, Cardano also abbreviated to (ADA). [Read: Shorting Ethereum before Q4 2019 would’ve been a good idea — here’s why] Unlike Bitcoin‘s blockchain, Cardano uses a proof-of-stake algorithm to approve transactions and processes on its blockchain. Cardano was set up by one of Ethereum‘s co-founders Charles Hoskinson. Cardano is unique in the blockchain community, in that it has some credentials in…

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Vodafone ditches Facebook’s ‘cryptocurrency’ to focus on M-Pesa


Vodafone has bailed on Facebook‘s cryptocurrency project, Libra, to focus on expanding its own solution for faster cross-border payments beyond Africa. The telecommunications giant is the latest in a string of companies to have left the Libra Association, alongside Mastercard, Visa, Stripe, and Ebay, CoinDesk reports. [Read: Facebook’s Libra ‘cryptocurrency’ is turning into a soap opera — and it’s gonna be a long season] Libra, a stablecoin-esque digital currency first revealed in mid-2019, has faced an onslaught of criticism from regulators worldwide, who’ve shared concerns its success could destabilize world economies by undermining the Euro. Vodafone would rather spend resources on M-Pesa (not a crypto)…

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EU central banks team up to explore digital currency use cases


A raft of central banks are banding together to gauge whether they should launch their own digital currencies, Reuters reports. The group aims to assess use cases of central bank digital currencies (CBDCs), analyse design choices such as cross-border interoperability, and share knowledge on the emerging technology. [READ: European Central Bank bigwig outlines why Facebook’s Libra isn’t real cryptocurrency] Initial members include the Bank of International Settlements (BIS), the European Central bank (EBC), the Sveriges Riksbank, the Swiss National Bank, and the Banks of England, Canada, and Japan. Benoît Cœuré, the head of the BIS Innovation Hub, will co-chair the group alongside…

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UK offers $130K for software that can trace Bitcoin, Ethereum, and (hopefully) Monero


The UK has opened a contract worth £100,000 ($130,000) to procure software to identify when cryptocurrency is used to avoid paying taxes. In particular, HMRC is seeking the ability to cluster cryptocurrency transactions, identifying those linked to service providers such as mixing, gambling, and dark market services. The contract, posted on January 17, notes the tool must track and trace Bitcoin, Bitcoin Cash, Ripple, Tether, Litecoin, Ethereum, and Ethereum Classic — the latter two it unfortunately misspelled as “Ethereium.” Preferential treatment is pledged to those seeking to develop additional functionality to analyze more private cryptocurrencies such as Monero, Zcash, and Dash. “Crypto…

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Huawei CFO in Canadian court on fraud charges, faces extradition to US


China’s foreign ministry labeled Canada‘s detainment of smartphone giant Huawei‘s CFO as a “serious political matter,” and again called for her release ahead of the first extradition hearing later today, Reuters reports. Canadian authorities arrested Meng Wanzhou, the daughter of Huawei founder Ren Zhengfei, in December 2018 at the behest of the US. The incident angered Beijing considerably, and the event soon became the centerpiece of a trade war between China and the Trump administration. [Read: Huawei P40 Pro leak shows off superzoom lens and reserved ceramic design] New York Times notes that the first stage of Meng’s extradition hearing will decide whether her…

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Moonday Mornings: It’s 2020 and the OneCoin scam is still alive


Welcome to Moonday Mornings, Hard Fork’s wrap-up of the weekend’s cryptocurrency and blockchain headlines you shouldn’t miss. Take a look what happened over the last few days. 1. Canadian authorities issue new guidance for cryptocurrency exchanges The Canadian Securities Administration (CSA) issued new terms, which seek to determine which digital asset exchanges fall under derivatives law, last week. The “Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets” draws a line between exchanges that pay out to users immediately and those that hold assets for users. Those that hold the assets will fall under…

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