Tuesday, January 22, 2019

Your identity could be for sale 😳

January 22, 2019

Hacked Customer Exchange Data is Allegedly Selling on the Darknet

The darknet has always been the go-to corner of the web to buy and sell illicit things. From drugs to stolen credit card information, its marketplaces are lined with items and services that would certainly catch jail time.

Now, an anonymous vendor with the name "ExploitDOT" is allegedly selling over 100,000 personal documents that were used to pass know-your-customer (KYC) policies at prominent cryptocurrency exchanges including Bittrex, Poloniex, Bitfinex, and Binance.

Dumped in July

This vendor isn't new either. Apparently ExploitDOT has had an ad running for the stolen documents on a forum since last July when an unnamed third party KYC solution provider suffered a breach.

The ad offers documents including proof of address scans and even selfies that show users holding up their driver's licenses.

In addition, ExploitDOT offers bulk discounts for buyers looking to grab large chunks of the stolen information.

Real or scam?

While ExploitDOT seems to be profiting off of the documents, it's still unclear whether or not they are real or just part of an elaborate scam.

Crypto news website CCN reported that a cybersecurity expert purchased a small sample of the documents and found them to be real customers from Binance.

Since then, however, Binance has pushed back claiming that the documents are photoshopped and carry no signs of a possible platform security breach.

He'll delete them but...

If the documents are real, it's a massive data breach that would violate the privacy of thousands of cryptocurrency investors.

That's why ExploitDOT is now asking to start a crowdfunding campaign to "delete all the hacked documents" and in exchange, he will get the amount of money he needs to pursue a "legit business with ideas that could change the world."

LAYOFFS

ConsenSys 2.0 Has Caused Layoffs of Less Than 10% Despite Previous Reports

Late last year, blockchain software company ConsenSys announced that it was going to undergo a transformation that could cut up to 13% of its 1,200 employee army.

The announcement was followed by "insider" rumors that claimed layoffs could even reach as high as 60% if it started spinning out startups that operate under its wings.

That doomsday scenario never happened though.

Less than 10%

According to Vanessa Grellet, an executive at ConsenSys, less than 10% of the staff was cut and the decisions were made as part of a "natural movement."

The move also mainly only affected support staff, while developers and technical employees remained untouched.

For now, it seems the layoffs have faded. A prolonged crypto winter, however, may incite more "natural movements" than ConsenSys previously expected.

EXCHANGE

A Computer Error Sent $5.3 Million in Bitcoin to Exchange Customers

South Korean exchange Coinnest had some lucky users last week when $5.3 million in Bitcoin accidentally ended up in user accounts due to a computer error.

But the problem didn't stop there. Those who received the gift quickly sold their new holdings immediately and it actually caused Bitcoin's price to flash-crash to $50.

The cleanup

After admitting its mistake and fixing the server that caused the issue, Coinnest is now asking for customers to return the Bitcoin. Additionally, it will also be rolling back transactions to recover its assets from inactive users.

At the time, about half of the assets lost have been returned.

STABLECOIN

Huobi Plans to Launch its Own Stablecoin Soon

Another day, another stablecoin. This time, it's crypto exchange Huobi that is planning to launch its very own stablecoin in the first half of 2019 despite already offering customers four different stablecoins on its platform.

It's unclear if the stablecoin will be pegged to a fiat currency or algorithmically to fight against volatility. Adding to the mystery, it's also still unknown what Huobi thinks customers will use this stablecoin for since there are already many choices on the market.

Regardless, Huobi sees stablecoins playing a big part in 2019. CFO Chris Lee commented:

"This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin in 2019 in the first half of the year."

BITS

But wait, there's more...

🚔 An Icelandic man is going to jail for four and a half years after stealing Bitcoin mining equipment.
🔮 Nasdaq CEO Adena Friedman believes that cryptocurrency "deserves an opportunity to find a sustainable futuer in our economy."
🚀 A new report reveals Ethereum on-chain transactions hit an all-time high in December 2018.

MEME