The U.S. Securities and Exchange Commission is said to be allowing the first Bitcoin futures exchange-traded fund (ETF), per a Bloomberg report. The publication said in a report on Thursday night that the U.S. regulator "isn't likely to block the products from starting to trade next week," citing people familiar with the matter. The report came several hours after the SEC said in a tweet through its investor education account that "Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits."
More on The Block• 2021-10-16
Security researchers found that an attacker could leave OpenSea account owners with an empty cryptocurrency balance by luring them to click on malicious NFT art. With a transaction volume of $3.4 billion, OpenSea is the world’s largest marketplace for buying, selling, and auctioning non-fungible tokens (NFTs) and other digital assets and collectibles. Details emerged today about an issue on the OpenSea platform that let hackers hijack user accounts and steal the associated cryptocurrency wallets. The attack method is as simple as creating an NFT with a malicious payload and waiting for a victim to take the bait and view it. Multiple users reported empty cryptocurrency wallets after receiving gifts on the OpenSea marketplace, a marketing tactic known as “airdropping” and used to promote new virtual assets.
More on Bleeping Computer• 2021-10-13
Unfortunately for the law-abiding of the world, ransomware is an idea that caught on immediately and never lost steam. In fact, it’s grown to the point that it now contributes to a thriving cybercrime business, often targeting large sectors, including education, finance, healthcare, the legal sector, and manufacturing. According to Fortinet research, by the end of 2020, there were as many as 17,200 devices reporting ransomware each day. Ransomware was widespread long before cryptocurrency came along, but in recent years, both have skyrocketed in tandem. Because cryptocurrency is difficult to trace, cybercriminals have rapidly switched to it as their preferred method for ransom payments. In fact, DarkSide, the group behind the high-profile attack on Colonial Pipeline, purportedly raked in $90 million in Bitcoin ransom payments before shutting down in May.
More on SecurityWeek• 2021-10-12
In a major blunder, cryptocurrency platform Compound accidentally paid out $90 million among its users. Shortly after the mistake, the platform's founder began asking users to return the money—or else they would be reported to IRS, and possibly doxxed, threatened the founder. Compound is an Ethereum-based money market protocol that enables users to earn interest or borrow assets against collateral. Lenders can provide assets to Compound's liquidity pool and start earning compounding interest, with interest rates dictated automatically by supply and demand. Yesterday, due to an erroneous upgrade process, the decentralized finance (DeFi) platform ended up spilling out Ethereum assets worth $90 million to its users.
More on Bleeping Computer• 2021-10-02
Crypto exchange Coinbase disclosed that a threat actor stole cryptocurrency from 6,000 customers after using a vulnerability to bypass the company's SMS multi-factor authentication security feature. Coinbase is the world's second-largest cryptocurrency exchange, with approximately 68 million users from over 100 countries. In a notification sent to affected customers this week, Coinbase explains that between March and May 20th, 2021, a threat actor conducted a hacking campaign to breach Coinbase customer accounts and steal cryptocurrency.
More on Bleeping Computer• 2021-10-01
A malicious Firefox add-on named "Safepal Wallet" scammed users by emptying out their wallets and lived on the Mozilla add-ons site for seven months. Safepal is a cryptocurrency wallet application capable of securely holding more than 10,000 types of assets, including Bitcoin, Ethereum, and Litecoin. Although the malicious browser add-on has been taken down, BleepingComputer has seen the phishing website set up by the threat actors is still up.
More on Bleeping Computer• 2021-09-27
Halving is an anti-inflation mechanism implemented, in the Bitcoin network. As the name suggests a reduction in the supply of new coins is cut by half (50%).
This causes BTC inflation to fall cyclically.
It takes place whenever 210,000 blocks have been mined which is roughly around once every 4 years.
Current mining rewards are 6.25 bitcoins.
Bitcoin: A Peer-to-Peer Electronic Cash System