Maker DAO Had a Critical Flaw That Could Have Led to the Theft of $340 Million of Ethereum (ETH) and Billions of Dollars of Additional Damage, Maker Foundation Reluctantly Patches This Security Flaw After Vulnerability Goes Public

December 11, 2019  /  by Zachary Mashiach
The co-author of the Augur whitepaper, Micah Zoltu, publicly announced that up until Dec. 9 Maker DAO had a potentially catastrophic security flaw that could have led to the theft of $340 million of Ethereum (ETH) from the Maker DAO smart contract. Now, the Maker Foundation has patched this critical flaw and seems to point the… Read more

Vertcoin (VTC) 51% Attacked Again, But Attack Possibly Thwarted By Bittrex Halting Deposits And Withdraws

December 3, 2019  /  by Crypto.IQ
Vertcoin (VTC) experienced a 51% attack on December 1, with 603 blocks being removed from the blockchain and replaced with 553 ‘attacker’ blocks. Five double spend transactions occurred simultaneous with the attack, but only 125 Vertcoins (VTC) worth $29 were doublespent. The attack may have been much worse, but the devs noticed an attack may… Read more

Top Korean Crypto Exchange Upbit Loses $50 Million Of Ethereum (ETH) In Hack

November 29, 2019  /  by Crypto.IQ
Upbit, which is among the top four cryptocurrency exchanges in Korea, has lost 342,000 Ethereum (ETH) in a hack. This is the equivalent of $52 million as of this writing. Whale Alert, an account on Twitter which tracks major movements of cryptocurrency, was the first to spot the hack. Whale Alert is typically used by… Read more

Unknown Miner Gains ~70% of Bitcoin Cash (BCH) Hash Rate and Performs Difficulty Adjustment Attack to Mine Up to 21 Blocks in an Hour, Bitcoin Cash (BCH) Highly Susceptible to Attacks Due to Hash Rate Being 50X Lower Than Bitcoin (BTC)

October 30, 2019  /  by Zachary Mashiach
An unknown miner has taken over a majority of hashing power on the Cash (BCH) network, with some reports suggesting the miner has had up to 75% of the hashing power at times. This makes the Cash (BCH) susceptible to 51% attacks, which is a scenario where a miner would fork the in order to… Read more

Ransomware Victim Hacks His Hackers

October 10, 2019  /  by Crypto.IQ
A user got to counter the ransomware attackers that encrypted his files by hacking their server and releasing the decryption keys for all other victims. This incident involved the Muhstik ransomware. Muhstik is a recent strain of ransomware that has been active since late September, according to reports. This ransomware targets network-attached storage (NAS) devices… Read more

Chainalysis Launches Actionable Real-Time Alerts for Suspicious Crypto Transactions

August 26, 2019  /  by Crypto.IQ
New York-based blockchain analysis company Chainalysis has announced the launch of a new alert service that flags suspicious cryptocurrency transactions. Chainalysis’ Know Your Transaction (KYT) tool is a real-time anti-money laundering compliant solution for monitoring transactions and is available for 15 top cryptocurrencies. These include Bitcoin (BTC), Litecoin (LTC), Ether (ETH, Bitcoin Cash (BCH), Maker… Read more

David Chaum Reveals Next Generation Digital Currency Praxxis

August 22, 2019  /  by Crypto.IQ
Praxxis is a new blockchain that implements a completely new approach to consensus, based on David Chaum’s previous experience with digital assets, voting, and distributed consensus. With Chaum at the lead, the team of WBM Corp. worked on the new cryptocurrency Praxxis while most of the development was kept under wraps until now. Building on… Read more

QRL Leading the Charge Against Quantum Computing Blockchain Threat

August 21, 2019  /  by Crypto.IQ
Quantum computers have long been dubbed as the nemesis of the whole cryptocurrency industry. Cryptocurrencies represent a piece of software that relies on the security of the blockchain to store or use the respective digital assets. If the security rules are in any way compromised, then the software becomes unreliable and prone to attacks from… Read more

What is the Cost of Keeping Blockchain Secure?

April 17, 2019  /  by CathyTest ZolloTest
Last March 25, cryptocurrency data portal Messari published a new screener that revealed how much miners are paid for top-listed “proof of work” coins. The figures estimated that $7.3 million dollars worth of BTC tokens are issued on a daily basis. Meanwhile with regards to mining fees, it is shown that more than $115,000 are distributed. These… Read more

The Large Bitcoin (BTC) Collider: a Pool of Computers Attempting to Brute Force Bitcoin (BTC) Private Keys, Calculates 300-500 Million Keys Per Second and 36,080 Trillion Private Keys Generated So Far, but Would Still Take at Least 2.58X1024 Years to Find a Private Key Collision

March 21, 2019  /  by Zachary Mashiach
In July 2016, Bitcointalk user Rico666 began to formulate the large Bitcoin (BTC) collider, a project to determine how feasible it is to brute force Bitcoin (BTC) private keys via a hash collision. The initial program was able to calculate two million private keys per second. By August 2016, Rico666 launched a pool for this… Read more
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