A new warning is in today’s crypto news – posted to the Monero subreddit in regards to the Monero version 0.14 and Ledger 1.1.3 because of a bug which has apparently changed transactions. According to one user and his claims, he has lost 1600 of his Monero altcoin savings which is worth about $83,000 at press time.
Even though there is still no proof for this claim, the user said:
“I didn’t get it back. I restored my seed on another Ledger and the balance was still 0.”
Another user warned other uses because of potential “ledger crypto developer” issues, stating:
“Do not use Ledger Nano S with client 0.14 until more information is provided.”
Currently, there are a few primary transaction models in the world of cryptocurrencies. While Ethereum and other cryptos use the “account” model where a single address deducts and credits other addresses – Bitcoin, Monero and many other cryptos use “unspent transaction outputs” (UTXO) which credit new transaction.
For example, if you have received 2 deposits of 1 BTC each and want to send 1.25 BTC to an exchange, Bitcoin will deduct one UTXO and .25 from the other. The remainder will move to a “change” address within the same transaction.
The change address will be generated based on the private keys of your wallet. Most of the wallets nowadays generate hundreds or more addresses and one of them is randomly chosen so that you can receive the “change.” In that manner, you wallet balance is .75 BTC minus the transaction fee to send the 1.25.
This is how Monero works too. According to one Redditor, a single unspent output of 1600 would create two transactions unless the whole balance was sent: 1 “outbound” and one “inbound.”
According to one user:
“If that 1600 XMR is there as a single output, there is no other way than to split it and put most of it into change: You try to transfer out 0.001 XMR, all 1600 XMR will go out, and a change tx of 1599.999 should come back to you. […] That’s not a Monero problem by the way, that’s just the way most cryptocurrencies work in general, so if this freaks you out, maybe it’s back to PayPal.”
It is still unclear if the user’s coins are actually “lost” or are not just syncing properly.
Two Miners Reportedly Executed A 51% Attack On Bitcoin Cash (BCH) Blockchain
“When the unknown miner tried to take the coins themselves, http://BTC.TOP & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own," Swann tweeted.The two miners and their attack are a topic shared by many best cryptocurrency news sites. However, 51% attacks have always been considered unethical, undesirable and unprofitable option to take away funds as it would require a massive amount of computing power and because of the fact that users would flee. According to other stats on Coin.Dance relevant to the two miners, BTC.top and BTC.com control 43% of the Bitcoin Cash mining pool together. Meanwhile, this is not the only mining attack featured in the coming altcoin news. Previously, the Ethereum Classic (ETC) blockchain experienced a 51% attack in January, resulting in a loss of 54,200 ETC.
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Galaxy Digital ‘Bank’ Cashes Out Of Block.one Investment With 123% Profits
“The acceptance of Block.one’s tender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz then said.As the filing shows, Galaxy Digital Bank can attribute much of this loss to its principal investing and trading businesses, presumably due to the fact that November and December saw Bitcoin and many other coins falling to fresh lows, as the altcoin news showed. The filing notes that Galaxy Digital Bank is primarily founded by Novogratz's wealth, 20% of which is purportedly invested in Bitcoin and Ethereum. Even though the company lost $272.7 million in all of 2018, much of the losses were incurred as a result of sale of cryptocurrency. One Twitter analyst also went in detail on this. https://twitter.com/zhusu/status/1126394118093950983 However, this is not the end of Novogratz & co. The report revealed that as 2018 ended, Galaxy Digital Bank owned $350 million of assets, 50% of which constituted equity/stake in prominent industry startups. More importantly, Galaxy Digital announced the launch of another fund (rumored with hundreds of millions in funding) which will loan out capital to cryptocurrency firms - a business which has boomed during the 2018 bear market - as the latest cryptocurrency news show.
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