Altcoin News

Famous Coincheck Theft Was Masterminded By Russian Hackers: Report

Published

1 month ago

June 18, 2019

Stefan

The famous Coincheck theft, which led the exchange to lose around $530 million worth of New Economy Movement (NEM) tokens was a hot topic in the altcoin news in January 2018. A new report recently emerged, showing that the hack had been finessed by an unknown group of Russian hackers.

Even though it is widely believed that North Korean hackers stand behind the famous Coincheck theft, the Japanese newspaper Asahi Shimbun is in the latest cryptocurrency news today with a new report – showing the Russian breadcrumbs in the Coincheck crypto exchange hack.

According to the Japanese newspaper, the examination of a Coincheck employee’s personal computer revealed a malware which was associated with Russian hackers. The hack, on the other hand, was a result of the crypto exchange’s employees and the fact that they installed infected software on their computers.

The famous Coincheck theft had the hackers sending emails to the employees (full of viruses such as Mokes and Netwire) which installed the malware on their machines and caused the massive financial loss. These viruses took over the infected computers and allowed the hackers to operate them remotely, gaining access to the private keys and executing the famous Coincheck theft.

Russian hackers have been known for leaving breadcrumbs of their misdeeds in the past. Therefore, it is not surprising to see many best cryptocurrency news sites reporting about them doing a shoddy job of covering the tracks once again – when they hacked the crypto exchange last year.

Despite the famous Coincheck theft, the crypto exchange was recently resurrected and now operates with a cryptocurrency license, unlike last year when it was hacked into. At that time, the exchange was awaiting a license and had poor checks and balances in place to prevent the massive theft knocking it into the ground.

Moreover, the inefficiency of Coincheck to protect its customers’ funds means that the hackers had to loot a fort with no defenses. If this was the Russians, it would have been a walk in the park – the country’s hackers are known for hacking the DNC server during the 2016 elections s well as many other cases of hacks, Bitcoin scams and more. Below is a proof of one.

DCLeaks was paid for with Bitcoin. The 11 Russian intelligence agents indicted today bought Bitcoin — and mined it themselves — to pay for the infrastructure they needed to hack into the DNC and release the documents. pic.twitter.com/VyJKx8RvA4
— Nathaniel Popper (@nathanielpopper) July 13, 2018

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan has been a Bitcoin Specialist for over 5 years. Providing daily news and updates for DC Forecasts.

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Altcoin News

Coinbase Amassed 30 Million Users: 5 Million In Last Month

Published

15 hours ago

July 23, 2019

Stefan

The San Francisco based cryptocurrency exchange Coinbase amassed 30 million users in its user base, 5 million of which came last month. It is clear that Coinbase is among the leader and is constantly featured in the latest cryptocurrency news - and there is a reason why. What many don't know is the fact that Coinbase is also the most commonly used fiat-to-crypto gateway in the United States - a market which consists of the largest portion of investors from all over the globe. As new data gathered by the renowned Bitcoin entrepreneur and startup investor Alistair Milne shows, Coinbase amassed a massive user base of 30 million with as much as 5 million new users being added over the last ten months as Bitcoin found its bottom and started rising again. After this major milestone which was featured on many best cryptocurrency news sites, many are asking themselves where does the world's most popular crypto exchange go from this point. The fact that Coinbase amassed 30 million users just around the time Bitcoin set an all time high translates to a 15% increase in 10 months. In December 2017 (when Bitcoin was at $20,000) Coinbase topped Apple's App Store as the most popular app in the finance category. This showed the world that crypto was a force to be respected. Ever since then, Bitcoin fell in a bear market - but this did not stop the world leading exchange to ramp up its user base. Coinbase amassed more and more users and the trading volume on its platform was surging, with the interest once again returning to the industry. https://twitter.com/alistairmilne/status/1153312781573218307 The CEO of the exchange, Brian Armstrong, pushed his team to stay strong during the 2018 bear market as well as use the downtrend to build a solid foundation when the bull market resumed. As Bitcoin was rising, the altcoin news also showed increases. In a recent live YouTube AMA, the CEO of Coinbase commented the increase and revealed that he wants to take the firm beyond just crypto trading - and push widespread adoption of cryptocurrencies by 'offering a list of services beyond trading.' Coinbase amassed a lot of users and that's a fact. However, the exchange (just like many others) may be headed into uncharted territory soon, once the regulation hits the industry.

Altcoin News

TRON Price Tumbles After The Rescheduled Lunch Between Buffett And Sun

Published

15 hours ago

July 23, 2019

Stefan

The price of the Tron (TRX) cryptocurrency is in the latest altcoin news for its decline after the founder of the coin, Justin Sun, has rescheduled the lunch with one of the richest people in the world, Warren Buffett. The Tron price tumbles as we speak. The day-to-day Tron prices are now down by almost 14% at the time of writing, trimming the weekly gains to a close zero. In the coming altcoin news, other major coins from the top 10 by market capitalization are registering losses of up to 6% today. The Tron price tumbles after the cryptocurrency foundation announced the reason for the rescheduled lunch - which seems to be the founder of the cryptocurrency Justin Sun and his apparent illness. The foundation also stated that "lunch and press conferences" had been put on hold after Sun had "fallen ill with kidney stones." Tron confirmed that Buffett and Sun had "agreed to reschedule at a later date." https://twitter.com/Tronfoundation/status/1153416554593210368 The lunch meeting with Buffett was a hot topic on many best cryptocurrency news sites - and was seen as something that was organized after Sun paid $4.6 million at a charity auction. This impressed Buffett, who was once a crypto pessimist, to explore the topic on TRON and Justin Sun's goals. However, the Tron price tumbles as a result of the delayed lunch. Meanwhile, an unsourced and unconfirmed report in the Chinese media speculated that Sun postponed the lunch because he was not able to leave China due to various accusations (including illegal fundraising via Tron). Still, this has not been confirmed and Sun responded through his Weibo account to deny the allegations made by the 21st Century Business Herald.

"The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China," he said (translated).

The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.

Altcoin News

Five Cannabis Infused Cryptocurrencies To Invest In This Year

Published

2 days ago

July 22, 2019

Stefan

The cannabis crypto sector comes with no shortage. In times when the marijuana industry is growing and the United States is legalizing cannabis in more and more states, we are featuring five cannabis infused cryptocurrencies that are in the focus of many investors. The weed coin sector (as they describe it) has proven to be a great investment opportunity for many. So, today's latest cryptocurrency news list the hottest five cannabis infused cryptocurrencies out there.

DopeCoin Gold (DOPE)

DopeCoin Gold has been featured in the coming altcoin news many times - as a blockchain and cryptocurrency which aims to 'provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century’. Created on Bitcointalk, DopeCoin Gold (DOPE) was first launched in early 2014. The creator of this altcoin also founded CryptoBillings which is a payment processing application for vendors interested in accepting crypto. You can purchase DopeCoin Gold as one of the five cannabis infused cryptocurrencies on markets such as Bittrex.

HempCoin (THC)

HempCoin launched in 2014 and just like DopeCoin, aims at revolutionizing the cannabis industry by providing a trusted network currency. As the website behind this project notes: “HempCoin is on a mission to achieve mass adoption in the agriculture sector by offering solutions that tackle the issues plaguing cross-border transactions. We aim to offer solutions for the lack of banking and payment services for industrial hemp and legal cannabis businesses.” You can buy HempCoin (THC) on Bittrex.

PotCoin (POT)

PotCoin also launched in 2014 and quickly made a name for itself - becoming one of the frontrunners in the cannabis crypto industry. This is why it is in our list of five cannabis cryptocurrencies to watch out for. From its website: “PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security.” PotCoin can be used to buy weed paraphernalia in different online headshops. The website also advertises a unique Shopify store. Staking rewards are also present on the POT blockchain.

CannabisCoin (CANN)

CannabisCoin (CANN) deserves to be in the five cannabis infused cryptocurrencies to watch out for. Even though it was originally planned to produce its own medical-grade marijuana products (priced at 1 gram of weed at 1 CANN coin) the cryptocurrency was also self-titled as 'The Marijuana Bitcoin'.

Paragon (PRG)

Paragon is also featured in our altcoin news as one of the five cannabis cryptocurrencies. It launched in 2017 with a main goal of: “…building the next generation of seed-to-sale tracking software based on blockchain, while offering cannabis entrepreneurs a high tech co-working environment.” However, its plans got derailed when the SEC came down hard on the project for violating the rules regarding the issuance of security tokens. The CEO of Paragon, Jessica VerSteeg, is a former Miss Iowa winner. She was in the news for framing the SEC ruling as a positive for Paragon at the time, stating: “Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace.”

Altcoin News

Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World

Published

2 days ago

July 22, 2019

Stefan

The legendary billionaire and crypto fanatic named Tim Draper is in the latest cryptocurrency news again. His comments this time were geared towards Facebook's stablecoin project (Libra) as well as cryptocurrencies in general. As the news show, the billionaire Tim Draper believes that both of these projects are bridges to a world dominated by Bitcoin. Draper was a guest in an interview with CNBC on July 19, where he voiced his opinions on Libra, crypto and Bitcoin. If you are following our altcoin news, you probably know that Libra is a hot topic everywhere because of the regulatory concerns. Known as a Bitcoin advocate, Tim Draper believes that both Libra and Bitcoin are special and should not be pressured by the governments - especially in the United States. When asked if the world is now in a post-Bitcoin environment, the billionaire investor argued that Bitcoin represented a true innovation from the cryptocurrency world. Tim Draper believes that Bitcoin will also be ultimately the tool that reshaped borders, finance and government power.

“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.

Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.

“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.

Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.