It was the Lehman Brothers of blockchain. 850,000 Bitcoin disappeared when cryptocurrency exchange Mt. Gox imploded in 2014 after a series of hacks. The incident cemented the industry’s reputation as frighteningly insecure. Now a controversial crypto celebrity named Brock Pierce is trying to get the Mt. Gox flameout’s 24,000 victims their money back and build a […]
View More The plot to revive Mt. Gox and repay victims’ BitcoinCategory: mt.gox
Korean crypto exchange Coinrail loses over $40M in tokens following a hack
Another day, another crypto hack. This time it’s Korea, the crypto-mad Asian country, where an exchange called Coinrail lost more than $40 million in altcoins, ICO-issued tokens that aren’t bitcoin or Ethereum, after it was hit by an apparent attack over the weekend. Korea may be a hot spot for crypto investment, but Coinrail is […]
View More Korean crypto exchange Coinrail loses over $40M in tokens following a hackCryptocurrency exchange loses $400 million worth of coins in massive NEM hack
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The Japanese cryptocurrency exchange Coincheck was hit hard Friday.
A hacker managed to funnel out 500 million NEM coins, a value of more than $424 million USD, one of the exchange’s co-founders said at a news conference in Tokyo Friday, according to Bloomberg. Japan’s Financial Services Agency is also investigating the theft.
Coincheck announced in an updating blog post that it had stopped trading of NEM and other coins as it dealt with the hack. Only Bitcoin services remained available on the exchange.
4/ The Coincheck hack had the potential to do mass destruction to the crypto industry. But NEM was transparent from the beginning+ worked with the community + Coincheck clients to ease FUD. This is how it’s supposed to work. Transparency always. The hacker will not win. We will.
— Inside NEM (@Inside_NEM) January 26, 2018 Read more…
More about Japan, Hack, Exchange, Cryptocurrency, and Mt. Gox
View More Cryptocurrency exchange loses $400 million worth of coins in massive NEM hackOne person is probably responsible for almost 600 percent of Bitcoin’s price rise
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Bitcoin is complicated. From what, exactly, it’s good for to who created it, there remains a host of unanswered questions about the world’s foremost cryptocurrency.
But when it comes to what drove the monumental price rise over the last 9 years, we now have at least a partial answer — and it’s not what you’d think. You see, it turns out that one person or one coordinated group is likely responsible for a massive increase in Bitcoin’s value back in 2013. Yup, just one.
That’s the conclusion of a group of researchers in the Journal of Monetary Economics, who write that the price of Bitcoin has been (surprise!) subject to manipulation over the years. Read more…
More about Bitcoin, Mt. Gox, Cryptocurrencies, Altcoins, and Tech
View More One person is probably responsible for almost 600 percent of Bitcoin’s price riseResearchers find that one person likely drove Bitcoin from $150 to $1,000
Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled “Price Manipulation in the Bitcoin Ecosystem” and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors. To many it’s been obvious that… Read More