Over $ 70 million worth of assets were stolen from UPbit; Ergo, a cryptocurrency analyst, linked Bitcoin’s drop to PlusToken’s activities; BloXroute Labs, a blockchain startup, reduced the block transfer time on the Ethereum network by 50%.

Over $ 70 million worth of assets were stolen from UPbit; Ergo, a cryptocurrency analyst, linked Bitcoin’s drop to PlusToken’s activities; BloXroute Labs, a blockchain startup, reduced the block transfer time on the Ethereum network by 50%.

1. On November 27, the UPbit cryptocurrency exchange was hacked, as a result of which hackers stole 342,000 ETH ($ 50 million).

The general director of the company confirmed this information. Immediately after detecting the problem, the deposit and withdrawal of funds was suspended. Later,it became known, that BTT and TRX were also stolen. The total amount of stolen funds is estimated at more than $ 70 million.

The next day, November 28, hackers began to move stolen cryptocurrencies with transactions from 10 to 100,000 ETH.


One analyst noted that hackers are looking for a money laundering exchange. They send small «test» transactions to the Huobi exchange.

One of the Twitter users noted that in reality this may not be hacking, but a tax-sanctioned campaign sanctioned by the owners of the exchange.

«Bithumb was supposed to pay $ 30 million in taxes on June 8, 2018, according to a decree from the Korean tax service. 12 days after the notification, it was hacked and stolen $ 35 million. On January 8, 2019, they ordered it to pay $ 50-60 million. It lost $ 50 million as a result of the hack» he wrote.

Some experts criticized this version because of the incommensurability of potential benefits with possible reputational damage.

Meanwhile, operators of other exchanges are showing solidarity. Changpen Zhao, CEO of Binance, said he would freeze all assets from intruders. Similar statements were made by representatives of OKEx, Huobi, KuCoin and Changelly.

 

2. CipherTrace conducted a new study and found out that theft of cryptocurrencies this year increased by 150% compared to last year.

For the first 3 quarters, crime losses in the field of digital assets reached $ 4.4 billion. For comparison, the figure for the whole of 2018 was $ 1.7 billion.

Such a large indicator is primarily associated with the PlusToken cryptocurrency pyramid, whose investors lost $ 2.9 billion, and the Canadian platform QuadrigaCX, which claimed another $ 195 million.

«However, even if you don`t take into account these two incidents, we all observe exactly a lot of crimes. Criminal activity is growing steadily from year to year. So far, there are no prerequisites that would signal about its attenuation» Dave Jevans, CEO of CipherTrace, said.

 

3. Cryptocurrency analyst Ergo noted that the growth of bitcoin in the current year, but then its decline may be due to PlusToken.

He suggests that the total amount of skam is estimated at more than 200,000 BTC. Initially, investors actively bought Bitcoin to invest in a pyramid, which provoked the growth of the first cryptocurrency, but then the organizers of the scheme began to sell assets.

«PlusToken sells approximately 1,100 BTC – 1,300 BTC daily. According to current calculations, they will liquidate bitcoins for another one and a half to two months» he said.

 

4. BloXroute Labs blockchain startup managed to reduce the block transfer time on the Ethereum network by 50%.

Akomba conducted a study by launching the BloXroute Blockchain Distribution Network (BDN) solution on its Ethereum node. As a result, it was possible to find out that the average time required to issue and distribute the block on the Ethereum network decreased to 172 milliseconds when the current average is 360 milliseconds.

BloXroute practices a zero-level solution that reduces transaction size and therefore reduces block transfer time.

 

5. Binance has announced a partnership with the TravelbyBit platform, which is engaged in booking hotels and airline tickets.

Collaboration aims to create a debit card with support for cryptocurrencies. Users will be able to use it while traveling and pay it for booking airline tickets and hotels on supported sites.
The launch of the map is scheduled for early 2020.

 

6. Binance also confirmed its desire to support the upcoming ETHBNT airdrop for Bancor (BNT) holders.

To participate in the campaign, you need to hold BNT on January 1, 2020 at 08:00 Moscow time on the stock exchange. ETHBNT tokens will be credited in the proportion of 10: 1 (1 ETHBNT will be awarded for every 10 BNT). The total airdrop is estimated at $ 1.6 million according to the current BNT rate.

 

7. Bitstop has partnered with Simon Malls, the largest network of US shopping centers, so that it can install bitcoin terminals in them.

According to company representatives, bitcoin terminals have already been installed at five Simon Malls centers in California, Florida and Georgia.

«We specially chose the pre-holiday time. Customers will be able to conveniently buy bitcoins while shopping on Black Friday and Christmas» Andrew Barnard, CEO of Bitstop, said.

 

8. In Germany, bill was introduced, which allows to store bitcoins in local banks.

The law regulates the activities of regulated financial institutions that may receive permission to sell and store cryptocurrency. This is currently not possible due to legislative restrictions. If the bill is approved, innovations will enter into force from the beginning of next year.

Sven Hildebrandt, the head of the consulting company DLC, noted that this is a positive signal for the entire cryptocurrency industry. According to him, Germany may become «a crypto paradise».

 

9. Blockchain Research Analysts at eToro Brokerage Platform said that Facebook took on an unbearable burden when it decided to develop and release its own stablecoin.

They note that creating a peer-to-peer payment network for using by millions of people is an overly ambitious plan that could not get past regulators.

Instead, the company should have used existing alternatives pegged to fiat currencies and issued by regulated third-party companies. Using this approach, Facebook would relieve itself of control of the currency. This would allow full effort to develop the Calibra wallet, accessible to 2.7 billion people.

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1. On November 27, the UPbit cryptocurrency exchange was hacked, as a result of which hackers stole 342,000 ETH ($ 50 million).

The general director of the company confirmed this information. Immediately after detecting the problem, the deposit and withdrawal of funds was suspended. Later,it became known, that BTT and TRX were also stolen. The total amount of stolen funds is estimated at more than $ 70 million.

The next day, November 28, hackers began to move stolen cryptocurrencies with transactions from 10 to 100,000 ETH.


One analyst noted that hackers are looking for a money laundering exchange. They send small «test» transactions to the Huobi exchange.

One of the Twitter users noted that in reality this may not be hacking, but a tax-sanctioned campaign sanctioned by the owners of the exchange.

«Bithumb was supposed to pay $ 30 million in taxes on June 8, 2018, according to a decree from the Korean tax service. 12 days after the notification, it was hacked and stolen $ 35 million. On January 8, 2019, they ordered it to pay $ 50-60 million. It lost $ 50 million as a result of the hack» he wrote.

Some experts criticized this version because of the incommensurability of potential benefits with possible reputational damage.

Meanwhile, operators of other exchanges are showing solidarity. Changpen Zhao, CEO of Binance, said he would freeze all assets from intruders. Similar statements were made by representatives of OKEx, Huobi, KuCoin and Changelly.

 

2. CipherTrace conducted a new study and found out that theft of cryptocurrencies this year increased by 150% compared to last year.

For the first 3 quarters, crime losses in the field of digital assets reached $ 4.4 billion. For comparison, the figure for the whole of 2018 was $ 1.7 billion.

Such a large indicator is primarily associated with the PlusToken cryptocurrency pyramid, whose investors lost $ 2.9 billion, and the Canadian platform QuadrigaCX, which claimed another $ 195 million.

«However, even if you don`t take into account these two incidents, we all observe exactly a lot of crimes. Criminal activity is growing steadily from year to year. So far, there are no prerequisites that would signal about its attenuation» Dave Jevans, CEO of CipherTrace, said.

 

3. Cryptocurrency analyst Ergo noted that the growth of bitcoin in the current year, but then its decline may be due to PlusToken.

He suggests that the total amount of skam is estimated at more than 200,000 BTC. Initially, investors actively bought Bitcoin to invest in a pyramid, which provoked the growth of the first cryptocurrency, but then the organizers of the scheme began to sell assets.

«PlusToken sells approximately 1,100 BTC – 1,300 BTC daily. According to current calculations, they will liquidate bitcoins for another one and a half to two months» he said.

 

4. BloXroute Labs blockchain startup managed to reduce the block transfer time on the Ethereum network by 50%.

Akomba conducted a study by launching the BloXroute Blockchain Distribution Network (BDN) solution on its Ethereum node. As a result, it was possible to find out that the average time required to issue and distribute the block on the Ethereum network decreased to 172 milliseconds when the current average is 360 milliseconds.

BloXroute practices a zero-level solution that reduces transaction size and therefore reduces block transfer time.

 

5. Binance has announced a partnership with the TravelbyBit platform, which is engaged in booking hotels and airline tickets.

Collaboration aims to create a debit card with support for cryptocurrencies. Users will be able to use it while traveling and pay it for booking airline tickets and hotels on supported sites.
The launch of the map is scheduled for early 2020.

 

6. Binance also confirmed its desire to support the upcoming ETHBNT airdrop for Bancor (BNT) holders.

To participate in the campaign, you need to hold BNT on January 1, 2020 at 08:00 Moscow time on the stock exchange. ETHBNT tokens will be credited in the proportion of 10: 1 (1 ETHBNT will be awarded for every 10 BNT). The total airdrop is estimated at $ 1.6 million according to the current BNT rate.

 

7. Bitstop has partnered with Simon Malls, the largest network of US shopping centers, so that it can install bitcoin terminals in them.

According to company representatives, bitcoin terminals have already been installed at five Simon Malls centers in California, Florida and Georgia.

«We specially chose the pre-holiday time. Customers will be able to conveniently buy bitcoins while shopping on Black Friday and Christmas» Andrew Barnard, CEO of Bitstop, said.

 

8. In Germany, bill was introduced, which allows to store bitcoins in local banks.

The law regulates the activities of regulated financial institutions that may receive permission to sell and store cryptocurrency. This is currently not possible due to legislative restrictions. If the bill is approved, innovations will enter into force from the beginning of next year.

Sven Hildebrandt, the head of the consulting company DLC, noted that this is a positive signal for the entire cryptocurrency industry. According to him, Germany may become «a crypto paradise».

 

9. Blockchain Research Analysts at eToro Brokerage Platform said that Facebook took on an unbearable burden when it decided to develop and release its own stablecoin.

They note that creating a peer-to-peer payment network for using by millions of people is an overly ambitious plan that could not get past regulators.

Instead, the company should have used existing alternatives pegged to fiat currencies and issued by regulated third-party companies. Using this approach, Facebook would relieve itself of control of the currency. This would allow full effort to develop the Calibra wallet, accessible to 2.7 billion people.

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