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Bitcoin ATM maker declares all user data compromised after exploit

A Bitcoin ATM manufacturer has shut down its cloud services due to a security issue that let an attacker access customers’ hot wallets and steal private information.

Prague-based company General Bytes issued a warning on 18 March saying that the hacker had remotely uploaded a Java application to its terminals, hoping to steal user information and funds stored in hot wallets.

The company has sold more than 15,000 Bitcoin ATMs to buyers in nearly 150 countries around the...

20 March 2023 | Bitcoin

Binance updates proof-of-reserves to $63bn with 11 new tokens

Leading crypto exchange Binance has added 11 tokens to its proof-of-reserves (PoR) report, claiming it now holds $63 billion (£53bn).

The company began publishing its reserves in late 2022 following the collapse of rival exchange FTX in a bid to increase transparency.

According to the update, Binance now holds 24 assets in its proof-of-reserves system. The 11 added tokens included Dogecoin, 1inch Network, Mask Network, Enjin Coin, WazirX, The Graph, Chromia, Curve DAO...

8 March 2023 | Bitcoin

Listen-to-earn lets you earn Bitcoin for listening to a podcast

Podcast platform Fountain has partnered with app monetisation company ZEBEDEE to bring Bitcoin micropayments to podcast listeners.

The partnership will give both podcast creators and listeners the ability to earn Bitcoin based on the amount of time spent with content.

ZEBEDEE says that listeners will support creators by paying for content by the minute as they listen to it. Listeners themselves will also earn money for their first hour of daily podcast listening and for...

26 January 2023 | Bitcoin

Sam Bankman-Fried deepfake aims to scam FTX collapse victims

A deepfake of former FTX CEO Sam Bankman-Fried aims to scam victims of the exchange’s collapse.

FTX was the third-largest cryptocurrency exchange and Bankman-Fried was seen as the face of crypto in Washington. The exchange enjoyed many celebrity endorsements and secured a 19-year, $135 million sponsorship agreement with Miami-Dade county that included the local stadium being renamed the FTX Arena.

All of that success went up in smoke when concerns around the...

22 November 2022 | Altcoins

CashApp integrates Bitcoin Lightning Network support

CashApp has added support for transaction payments through the Bitcoin Lightning Network.

Developed by Block Inc, CashApp is a mobile payment processing app similar to PayPal.

The new feature allows CashApp users to send and receive Bitcoin through its quicker, more efficient layer-2 protocol. Lightning is particularly well suited for small transactions, with near-instant processing times, compared to the minutes or sometimes hours required by the Bitcoin...

28 October 2022 | Bitcoin

Canada’s Conservative Party elects pro-crypto Pierre Poilievre

Pierre Poilievre, a staunch crypto advocate and Ontario Member of Parliament, has won the Conservative Party of Canada’s (CPC) leadership race by a major margin.

The Alberta-born lawmaker, who said he “wants to make Canada the blockchain capital of the world”, garnered 68% of the conservative vote. His closest rival, former Quebec premier Jean Charest, netted a meagre 16% of total votes.

As the new leader of the country’s main opposition party, Poilievre is...

12 September 2022 | Bitcoin

Ukraine details how it spent crypto donations

Ukraine has detailed exactly how it spent over $54 million in donations from the crypto community.

In the early days of the war, Ukraine began accepting cryptocurrency donations from kind-hearted folk around the world wanting to help the country defend itself from Putin’s war of aggression.

Yesterday, Ukrainian Vice Prime minister Mykhailo Fedorov posted a breakdown of how the crypto donations were spent:

“Every helmet, bulletproof vest, and night...

18 August 2022 | Altcoins

Ripple: Most financial institutions plan to use crypto within three years

A report by Ripple suggests that most financial institutions plan to start using crypto within the next three years.

Despite the bear market, financial institutions remain interested in the cryptocurrency space. Just this week, $10 trillion asset manager BlackRock launched a spot Bitcoin trust while saying that it’s also exploring “permissioned blockchains, stablecoins, cryptoassets, and tokenization.”

While BlackRock is exploring the potential financial benefits...

12 August 2022 | Altcoins

‘Free-for-all’ Nomad exploit drains $190M of crypto

Cross-chain bridge Nomad has fallen victim to a “free-for-all” exploit that drained around $190 million in crypto.

Just last week, Nomad announced that it had secured $22.4 million in seed funding from high-profile backers including Coinbase Ventures, Crypto.com Capital, and OpenSea. The company emphasised its focus on security following a spate of bridge hacks.

“With $1.5B in bridge hacks happening within the last 12 months, many people, protocols, and DAOs are...

2 August 2022 | Altcoins

Binance slapped with $3.3M fine by Dutch central bank

Cryptocurrency exchange Binance has been slapped with a $3.3 million fine by the central bank of the Netherlands.

The central bank, De Nederlandsche Bank (DNB), issued Binance Holdings with the fine after the exchange failed to gain regulatory approval to operate in the country.

Companies that want to offer crypto services in the Netherlands are obliged to register with the DNB under the Money Laundering and Terrorist Financing Prevention Act.

The fine for...