January 10, 2019
QUOTE OF THE DAY
"Hustle until you no longer need to introduce yourself."
- Unknown
| COIN | PRICE | 24H |
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| BTC | $3,818.70 | - 5.36% |
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| XRP | $0.344515 | - 6.28% |
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| ETH | $133.14 | - 12.00% |
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| BCH | $140.76 | - 11.95% |
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| EOS | $2.57 | - 9.10% |
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*Information as of 10:00 AM EST
New Evidence Emerges Confirming 51% Attack on Ethereum Classic
Up in the air
Earlier this week rumors spread that Ethereum Classic had fallen victim to a 51% attack - an event in which the blockchain's history can get rewritten.
Developers and exchanges were reluctant to confirm if the rumor was true and a handful of them stood aside before was more information surfaced.
Now, Gate.io, an exchange affected by the hack, has come forward with an analysis that explains what happened on its platform.
Down 40k ETC
In the span of 4 hours on January 7th, the hacker was able to transfer over $250,000 worth of ETC between the Gate.io platform and his addresses.
Though each transaction was actually flagged by the exchange's security system, the transactions were allowed to go through because they were confirmed by the Ethereum Classic blockchain
I'm total, this accounted for a loss of over 40,000 Ethereum Classic for the platform, however, they will be fully refunding customers affected by the attack.
Confirmed by peers
Today, another published report by the SlowMist team confirmed the same findings.
Meanwhile, Ethereum Classic developers have released a new statement that summarizes new priorities after the attack including:
- Conducting a full analysis of the event that took place
- *Not* reorganizing the chain to reverse the attack
- Creating an alert system for future attacks
Still, however, the development team has avoided the use of the term 51% attack even though it may be clear that's the case.
ShapeShift Announces Layoffs, Blames Market Conditions
Trimming staff
Cryptocurrency exchange ShapeShift recently announced that it has laid off 37 of its employees.
The company cites the weak market as the reason it must trim its staff.
ShapeShift's CEO, Erik Voorhees, describes the action as "a deep and painful reduction, mirrored across many crypto companies in this latest bear market cycle."
Everyone is downsizing
Layoffs in the crypto space are not quarantined to ShapeShift. Other companies in the industry are making similar layoffs during this bear market.
Most notably, Ethereum incubator Consensys and mining hardware manufacturer Bitmain downsized significantly in the past few weeks.
Ransom Demand in Monero After Kidnapping of Wife of Norwegian Billionaire
Anne-Elisabeth Falkevik Hagen, the wife of the Norwegian billionaire Tom Hagen, was recently kidnapped.
The kidnappers detaining Hagen are demanding that a ransom of 9 million euros (~$10.3 million) be paid in Monero.
The amount demanded by the kidnappers is more than 1% of the total supply of Monero.
To no surprise, the kindappers chose Monero for its anonymity. If the ransom is to be paid, authorities would have no way of tracking the funds in hopes to find the kidnappers.
There is no indication if Hagen's husband intends to pay the ransom, but hopefully authorities are able to crack the case before that is necessary.
In celebration of Bitcoin's 10th birthday...
After months of brainstorming, planning and designing, we are so excited to launch something special from a fruitful collaboration between Unbankd and Abra. We both believe education is an extremely important piece to the crypto puzzle. So, to celebrate the 10th anniversary of the launch of Bitcoin's network, we created an illustrated book that breaks Bitcoin down in three lucid parts:
🕵 The Beginning: Get to know the foundation that was laid up until the launch of Bitcoin!
🎢 The Rise: Ride through the ups and downs of the past decade on the Bitcoin rollercoaster.
🔮 The Future: Envision a global economy with true economic freedom made possible by Bitcoin.
We hope you love reading this as much as we loved making it! After you're done enjoying it, send it to those relatives that were asking you about Bitcoin over the holidays. Or maybe those friends who don't quite get why you talk about crypto all the time. Who knows, maybe this will end up as a book on your coffee table one day.
But wait, there's more...
- 👀 New malware study claims criminals have mined 4.4% of the total supply of Monero.
- ⛏ Mining giant Bitmain may appoint Tech Chief as its new CEO.
If you ❤️ Unbankd, share us with your friends to help them get crypto smart too!
So far you have 0 referrals but we still have more rewards for you.
Or copy & paste your unique link to share:
https://unbankd.co/?ref=192f87b56d
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