Centrality CENNZ

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Centrality News

Heavy Borrowing and Failed States Could Drive Hyperbitcoinization

Hyperbitcoinization supporters subscribe to the belief that state-controlled fiat currencies have little legitimacy and will eventually erode to worthlessness due to their undemocratic centrality, abuse of power, and what H-Theory supporters describe as the constant depreciating nature of fiat currencies. Hyperbitcoinization theory (H-theory), a concept published by Daniel Krawisz of the Satoshi Nakamoto Institute in 2014, posits that Bitcoin will lead to the ‘demonetization of currencies’ and many H-theory subscribers believe that the CIA World Factbook provides insights on which countries will be the first to experience Hyberbitcoinization. Big borrowing, high deficit countries like the U.S. are expected to experience hyperbitcoinization and countries with unstable currencies and leaders like Zimbabwe, Venezuela, and North Korea are also expected to follow. According to Krawisz’s theory, the underlying endemic issues of these debt-ridden and undemocratic countries make them strong cases for hyperbitcoinization and many supporters believe a global economic slowdown could accelerate the rate of hyperbitcoinization. (RS)

8 days ago

Bitcoin Cash is dead, will be worthless in a few years: Bitcoin.org co-founder

Bitcoin Cash [BCH], the Bitcoin [BTC] hardfork was touted to be the revelation of the crypto-world and a redefinition of Bitcoin itself, but 18 months later, it has fallen in the ranks. Cobra, a pseudonym for the infamous co-founder of Bitcoin.org and Bitcointalk.org has stated that BCH is worthless. In a tweet posted on January 18, Cobra stated that Bitcoin Cash is not just dying, but it is dead and due to a lack of vision and purpose, the coin’s value will drop to $0 in a matter of years. His tweet stated: “Bitcoin Cash is dead. Needs new leadership and direction/purpose otherwise it’ll be worth $0 in a few years.” When asked in the comments about the prospects of “leadership,” which can also be equated to the centrality of control for the cryptocurrency, an antithetical concept to the whole purpose of Bitcoin, Cobra responded: “Yeah, but Bitcoin Cash isn’t Bitcoin. Bitcoin can survive with no leaders, but Bitcoin Cash is different and needs to be shown the way.” Another comment by Ryan_Pafumi read: “It was always worthless, just like all the forks have turned out to be. Now it just needs to be put down.” Some users stated that their skepticism regarding BCH began after the November 2018 hardfork which gave rise to the tenth ranked crypto on the market, Bitcoin SV [BSV] backed by nChain’s Craig Wright and Calvin Ayre. Another tweet, citing the November hardfork read: “Foresight - Sold bitcoin Cash 2 weeks after fork knowing it would go to 0.” Undoubtedly, the biggest proponent of Bitcoin Cash is Roger Ver, the CEO of Bitcoin.com, who is not subtle with his praise of the Bitcoin hardfork. Ver also backed Bitcoin Cash’s hardfork, Bitcoin Cash ABC, which has been riding a bearish wave since its emergence. Earlier this week, Ver stated, via a tweet that Bitcoin Cash in 2019 is what Bitcoin was originally meant to be when it was launched. In the same tweet, he included the original Bitcoin whitepaper and highlighted the “Peer-to-peer electronic cash system” that Bitcoin introduced, which he believes BCH currently touts. Cobra replied to Roger Ver’s above tweet, stating: “Notice how the whitepaper points to .ORG and not to the fake .COM which Satoshi said has “nothing to do” with Bitcoin? YOU are the one fooling people!” Lastly, opponents of BCH are also annoyed with Ver over his domain Bitcoin.com and their relentless BCH narrative. In the light of this, John Carvalho, the man behind Bitcoin Error Log challenged Roger Ver to a ‘fight’ for the rights to Bitcoin.com. The post Bitcoin Cash is dead, will be worthless in a few years: Bitcoin.org co-founder appeared first on AMBCrypto.

a month ago

BitGo Enters Cold Storage Crypto Trading

A company which already has enticed both Galaxy Digital Ventures and Goldman Sachs in the past has developed a platform enabling clients to trade cryptocurrency straight from cold storage. Palo Alto-based crypto storage firm BitGo has announced the new service just days after the hacking of cryptocurrency exchange Cryptopia which saw more than ETH 19,391 (USD 2.4 million) and Centrality tokens worth USD 1.18 million transferred to unknown wallets. Bitgo has chosen Genesis Global Trading for the service which ensures that customer buy and sell orders will never leave cold storage as SEC and FINRA regulated Genesis hold a cold storage wallet with BitGo. Mike Novogratz, Bitcoin pundit and CEO of Galaxy Digital Holdings Ltd, claims these types of storage solutions could easily promote the next bull run, commenting: “I think the next move up is going to need custody from a trusting source... It’s going to need a little more regulatory clarity... We wouldn’t take out USD 10,000 without those two things because that’s what brings the institutional investors in. But we’re going to get there.” BitGo has announced that Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, and ZCash will all be available under the new system Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post BitGo Enters Cold Storage Crypto Trading appeared first on BitcoinNews.com.

a month ago

Cryptopia Shows Sector Still Doesn’t Know How To Handle Hacks

It is “very unlikely” that the people behind the Cryptopia hack will be caught, according to a leader in blockchain security. Michael Ou, the CEO of Taiwan-based CoolBitX, says that even if the hackers are apprehended, returning the stolen funds could become a prohibitively expensive and complicated process. In an email, Ou added that despite the combined efforts of other exchanges in freezing funds, the Cryptopia thieves are likely to keep most of the stolen cryptocurrency. “Despite the efforts of major exchanges to identify and freeze the stolen funds as fast as possible, it is very unlikely that these criminals will ever be caught,” Ou wrote. “And even if the criminals are caught, or the funds effectively frozen and obtained by legitimate actors, the process of returning the Ether to its original owners is likely to be a long and challenging process for all parties.” Binance Freezes Assets Cryptopia detected what it described as a “significant security breach” in the early hours of Monday morning. The New Zealand-based exchange, which had a daily trading volume of around $2M prior to the hack, then alerted users on Tuesday morning. Current estimates suggest hackers stole as much as $3.4M worth of Ether (ETH) and Centrality (CENNZ), as well as other tokens. Cryptopia has raised questions in the past. In early November, gold-backed cryptocurrency AurumCoin (AU) alleged that the exchange was complicit in a 51% attack. 16M AU tokens - then worth approximately $500,000 - were successfully sold on Cryptopia’s trading platform. Some users on Twitter accused the exchange of orchestrating the security breach themselves, as cover for an “exit scam.” The investigating New Zealand police have not ruled out the possibility of an inside job. The stolen assets were sent to Binance wallets yesterday, prompting the exchange to freeze the funds after being alerted by users on social media. News outlets were split on this development. Some highlighted it as proof that the sector can effectively police itself; others wondered why the world’s largest exchange had to rely on Twitter users, rather than their own surveillance systems, to detect the stolen funds. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. 🤔 How is that possible with modern blockchain analysis? 🧐 — Sir Bitlord ❇️ (@Crypto_Bitlord) January 16, 2019 Cryptopia hack shows the sector is still unprepared Since the CoinCheck hack in 2018, the largest on record, exchanges have started taking security more seriously. Most custodial exchanges hold users’ assets in cold wallets, which cannot be easily accessed. Smaller sites, like Cryptopia, may not be able to afford the same protection, making them targets for hackers. But even the larger ones, like Binance, are still not monitoring the assets going through their servers. There may be better protections to prevent digital thefts, but the sector is still under-prepared to deal with the situation after the event. CoinCheck, for example, had to reimburse users out of their own pockets. If history is any guide, Ou is probably correct: the Cryptopia hackers are unlikely to be caught, and victims should not expect to see their funds again. In the meantime, the exchange now has the dubious honor of the first hack in 2019. Binance’s actions in freezing the stolen funds is laudable, but hardly enough to deter future hackers. Cryptopia may have had it coming, but that’s small comfort to the victims of this week’s hack - or to the future victims of the next one. The author is invested in digital assets, including ETH which is mentioned in this article. Join the conversation on Telegram and Twitter! The post Cryptopia Shows Sector Still Doesn’t Know How To Handle Hacks appeared first on Crypto Briefing.

a month ago

Consejos de CEO de Binance y Kraken sobre almacenamiento de criptos crean controversia en Twitter

Los usuarios de Twitter responden escépticos a los consejos de Changpeng Zhao sobre almacenar solo el mínimo necesario de criptomonedas en las plataformas de intercambio y acudir únicamente a la más segurasDespués de un año en el que incrementaron los hackeos entre los intercambios de criptomonedas, el CEO de Binance, Changpeng Zhao, y el de Kraken, Jesse Powell, aconsejaron sobre las mejores prácticas para el almacenamiento de cripoactivos. La gran pregunta sigue siendo, ¿cuál es el medio de almacenamiento con menor exposición al riesgo? (adsbygoogle = window.adsbygoogle || []).push({});Ayer, en una publicación de Twitter con relación al reciente hackeo de Cryptopia, Changpeng Zhao (CZ) destacó que los usuarios tienen tres opciones para el almacenamiento: self-storage, exchanges tradicionales o exchanges descentralizados:Almacene las monedas usted mismo. Luche contra los hackers Ud. mismo y se protege de perder la billetera. La computadora se rompe, los USB se pierden.Si va a almacenar en un exchange. Solo utilice los intercambios más fiables y seguros.O múdese a los DEX (exchanges descentralizados), desafíese.En otro tweet, el CEO de Kraken, Jesse Powell, opinó de forma similar que los usuarios no deberían tener más criptos de las que necesitan para comerciar activamente. Piensa que, en su lugar, los propietarios de criptomonedas deberían utilizar las carteras de hardware- también de buena reputación- como Ledger y Trezor:POR FAVOR, no almacene más monedas en una bolsa (incluyendo @krakenfx) de las que necesita para operar activamente. Utilice @LedgerHQ o @Trezor. Los DEX no son una panacea — mira el DAO. El código abierto sólo significa que los exploits serán descubiertos antes (probablemente no por los buenos).CEO de Binance recibe críticasNo obstante, el tweet de Zhao pareció inferir que el riesgo de autoalmacenamiento es significativamente mayor que el riesgo de almacenar criptos en intercambios “acreditados” como Binance. El comentario terminó generando gran polémica en las redes sociales. Este se produjo después de la noticia de que Cryptopia, una empresa neozelandesa de cambio de criptomonedas, acababa de ser pirateada, con al menos 2,44 millones de dólares estadounidense en ether y 1,18 millones de dólares de Centrality (CENNZ) transferidos a varias billeteras desconocidas.Algunos usuarios escépticos respondieron al tweet de CZ:“¿Por qué no prometes un seguro si tienes tanta confianza en tu intercambio?“, dijo un usuario de la red social. Otro usuario hizo referencia a que ningún intercambio puede escapar de los ataques, ni siquiera Binance:Cuando Binance sea hackeado, este tweet se convertirá en un meme.Otros comentarios fueron más acusativos:Es un jefe de bolsa, ¿qué otro tipo de consejo debería dar?... Además, CZ conoce su sistema de seguridad. Tal vez esté 100% seguro de que Binance no puede perder fondos.A lo que un usuario respondió: “Siempre hay una forma de comprometer un intercambio. Si estás 100% seguro de que eres un estafador“.El CEO de Binance aconsejó a aquellos que buscan almacenar en bolsas centralizadas que utilicen sólo las más acreditadas. Sin embargo, en 2014 Mt. Gox solía ser el cambio más respetable, pero luego fue hackeado por más de 500 millones de dólares.Zhao respondeA la luz del furor generado por su comentario, Zhao publicó más tarde un tweet de seguimiento en el que afirmaba que, contrariamente a la percepción general suscitada por su mensaje inicial, no recomendaba, de hecho, el uso de almacenamiento de intercambio en lugar de cualquier otra opción de almacenamiento.Algunas personas parecen leer mal este tweet. Enumera 3 opciones. No dice qué opción es mejor que otra, ya que depende de la capacidad de seguridad de cada persona, su preferencia, la asignación de fondos, etc. Lo más importante es que es un anuncio para #BinanceDEX. Mi culpa por no haberlo dejado claro.La clave de seguridad: reducir los riesgosPierre Rochard, de Bitcoin Advisory, también cuestionó los comentarios de Zhao, señalando que las carteras de exchanges estaban en un riesgo mucho mayor que las carteras de almacenamiento personal.En los últimos dos años, atacantes cibernéticos han alcanzado a robar cerca de 900 millones de dólares estadounidenses de las plataformas de intercambio. Desde el ataque a Mt. Gox en 2014, varias otras plataformas han sido víctimas de jaqueo, y posiblemente también de delitos internos, aunque esto es difícil de probar.Mientras tanto, la ex CEO de Trezor, Alena Vranova, se hizo eco de Powell, aconsejando a los propietarios de criptomonedas a limitar su exposición al riesgo mediante el control de sus propias claves privadas. En lugar de utilizar servicios de terceros como las carteras de intercambio en línea, Vranova afirma que las carteras de hardware con función multisig proporcionan una seguridad mucho mayor.Sin embargo, y por los momentos, ninguna opción de almacenamiento puede considerarse 100% segura. Recomendaciones de los veteranos de la industria como Vranova y Po

a month ago

Daily Crypto Roundup 1/15/2019

Today saw a whirlwind of news in the crypto space as bitcoin remained relatively uneventful. Currency.com launched tokenized securities trading, hackers broke into Cryptopia and a former U.S. representative spoke out against current crypto regulation. SBI Crypto Investment also put money into Breadwinner AG (BRD). Additionally, Crypto Insider wrote a more in-depth take on the current initial coin offering (ICO) scene. Get the details: Where Is The Price Of Bitcoin Heading? Bitcoin’s price action has been relatively slow over the past few weeks, with the exception of a few Bart Simpson patterns alluding to low liquidity levels. The price of BTC has also been subject to large wicks, stop-loss hunts and possibly bot action. In a recent video, technical analyst Tone Vays noted bitcoin’s monthly chart looked grim, with a few possible scenarios going forward. Read more here... European Blockchain Startup Launches Trading In Tokenized Securities Today saw another security token trading operation launch. The new platform, Currency.com, will let users trade tokenized securities via bitcoin or ethereum. Currency.com touts more than 150 tokenized securities for trading and investing opportunities. These tokenized securities follow the price movements of their underlying assets. DX.Exchange recently launched a similar operation at the start of January. Read on CoiDesk New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack Cryptopia has suffered a significant hack according to the exchange’s tweet this morning. “Cryptopia Exchange suffered a security breach which resulted in significant losses,” the exchange said in the tweet. No details are available regarding the number of stolen funds or the full impact of the situation. Cryptopia has shut down its exchange while it pursues steps toward a solution. “Meanwhile, tweets from Whale Alert on Saturday indicated that 19,391 ether (ETH) tokens worth nearly $2.44 million and around 48 million centrality (CENNZ) tokens worth about $1.18 million were transferred from Cryptopia to unknown wallets on Jan. 13. It is not currently clear if those funds were moved by the hacker or by the exchange,” CoinDesk noted. Read on CoinDesk US Regulators’ Approach To Crypto Is Obstructing Innovation: Ex-Congressman Former Washington state representative George Nethercutt spoke on crypto assets yesterday, stating U.S. regulation has gone the wrong direction, according to CoinTelegraph’s report on Nethercutt’s article for The Hill. “While diplomats at the State Department are negotiating hard to pave the way for American innovation, U.S. regulators such as the Securities and Exchange Commission (SEC) have been slow to make pronouncements regarding cryptocurrencies. This has hampered innovation and left many American businesses in regulatory limbo, particularly with respect to whether or not their tokens are classified as securities,” Nethercutt wrote. “From a legal perspective, experts have concluded that securities regulations simply do not apply to cryptocurrencies. It’s time policymakers share that approach, allowing innovation to continue to flourish,” he added. Read on CoinTelegraph Japanese Finance Giant SBI’s Crypto Subsidiary Backs Mobile Wallet BRD Switzerland’s Breadwinner AG recently saw investment from SBI Crypto Investment. SBI Crypto Investment operates under Japanese powerhouse SBI Holdings. Breadwinner AG is known for its BRD mobile crypto asset wallet. The wallet is active in 170 countries and boasts 1.8 million downloads. Read on CoinTelegraph The post Daily Crypto Roundup 1/15/2019 appeared first on Crypto Insider.

a month ago

Hack or Exit Scam? Cryptopia Users’ Millions of Dollars at Risk of Loss

Cryptopia exchange has reported a security breach and incurring significant losses, sparking the speculation of this being an exit scam as just a day before more than 19k ETH and 48 million CENNZ has been moved to unknown wallet. Fading Exchange Making an Exit Scam? New Zealand-based cryptocurrency exchange Cryptopia took to Twitter to announce that they have suffered a security breach. The exchange first reported about it the day before yesterday that it has been under unscheduled maintenance, “We are still experiencing unscheduled maintenance. Our team is working hard to resolve this and we will provide an update soon.” However, a day passed and the exchange has been still down. That’s when the exchange reported a security breach. On January 13, the exchange first reported unscheduled maintenance. Yesterday, the exchange revealed that the security breach has resulted in “significant losses.” The breach was, as reported by Cryptopia has been identified by a staff member and now it is working the local police force and government agencies to resolve the issue. The local police reported, “A significant value of crypto-currency may be involved and Police are taking this very seriously. We are currently talking to the company to gain a further understanding of what has occurred. A dedicated investigation team is being established in Christchurch including specialist police staff with expertise in this area. Police are also liaising with relevant partner agencies in New Zealand and overseas. The investigation is still in its very early stages and police are unable to provide further information tonight.” The news of Cryptopia being hacked got the crypto community talking as the crypto trader, investor, and venture capitalist, Crypto Squeeze conducted a poll to know its impact. Just yesterday, the exchange website was showing the maintenance sign and to be back soon and now it has updated it with the security breach announcement. According to Coinmarketcap data, the exchange has over 800 active markets with the trading data updated about 52 hours back. Over the time, the trading volume of Cryptopia exchange has dwindled as shown in the data provided by Coinlib. Source: https://coinlib.io/exchange/cryptopia Crypto Squeeze yesterday called out an exit scam on Cryptopia. On January 13th while the exchange was undergoing maintenance, Whale Alert reported the transfer of 19,391 #ETH (2,438,152 USD) and 48,029,306 CENNZ (1,176,596 USD) from Cryptopia to an unknown wallet. This calls into questions these big transfers made on Sunday while the exchange reported having unscheduled maintenance on the same day. The big transfer of funds, maintenance, and the hack could be separate events. But the fact that the company announced the hack on Tuesday when it actually occurred on Monday puts a twist to the situation. Whale Panda, a popular Bitcoin advocate also took to Twitter to share the fact that over the time the exchange has become irrelevant. According to the Similar Web data, the Cryptopia exchange website registered 8.5 million visitors in July 2018 that shot down to about 5 million in December 2018. At this point, the police are investigating about which the officials will be updating soon while the exchange says, “We are unable to update anyone at the moment as it’s now a police matter.” The post Hack or Exit Scam? Cryptopia Users’ Millions of Dollars at Risk of Loss appeared first on Coingape.

a month ago

Cryptopia Hack Stolen Funds Moved to Binance and Other Crypto Exchanges - Changpeng Zhao Confirms

A large amount of Ethereum and ERC-20 tokens have been transferred, over the last hours, from Cryptopia to wallets linked with several cryptocurrency exchanges, including Binance. This activity could have been associated with the Cryptopia hack that took place earlier this week, leading the exchange to suspend its operations. Hackers Attempted to Hide Trails Before Sending Stolen Funds to Binance According to Twitter user @ShaftedTangu, the hacker moved vast amounts of ETH and other tokens such as DNC, MTL, MGO, KNC, OMG, ENJ, CENNZ, TrueUSD and others, from Cryptopia-related wallets and then consolidated them into one account. Consequently, he redistributed the funds across multiple crypto exchanges. However, this action which could be seen as an attempt to launder the stolen funds was big enough to trigger the watchdogs that monitor every suspicious, large blockchain transaction. 19,391 #ETH (2,438,152 USD) transferred from #Cryptopia to Unknown wallet Tx: https://t.co/xTxMKRJSD8 — Whale Alert (@whale_alert) January 13, 2019 Social Media Seem to Play a Key Role in Blockchain Security @ShaftedTangu reached out to the representative of the involved cryptocurrency exchanges via Twitter, to warn them about the funds being moved to accounts of their companies. Namely, the exchanges that seem to have received funds from the Cryptopia hack include Binance, Huobi, CoinExchange.io, Digifinex and, KuCoin. Changpeng Zhao, CEO of Binance, went to confirm allegations, saying that the exchange was able to trace and freeze some of the stolen funds. Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Opaque Crypto Transactions After Cryptopia Shut Down Operations The crypto community is treating the Cryptopia hack with skepticism, as the stolen fund transfer occurred several hours after the exchange announced its temporary shutdown. This has led many to believe that the incident could have been an inside job, but Cryptopia has not responded yet to any of those allegations. The latest update from the exchange’s Twitter account says that the matter is now on the hands of the appropriate authorities. We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.https://t.co/9uMiKQwb6u — Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019 Cryptopia Hack Stolen Funds Moved to Binance and Other Crypto Exchanges - Changpeng Zhao Confirms was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

a month ago

Stolen Ethereum-based tokens transferred to Binance and other top exchanges

The whole cryptocurrency market continues to be traumatized by hacks as another exchange falls victim to a security breach. The cryptocurrency exchange in question here is noted to be Cryptopia, a leading exchange based in New Zealand. On January 16, 2019, the exchange platform announced that its staff noticed a security breach, which, in the end, resulted in a loss of funds. The system of the exchange was compromised on January 14, 2018. In their official statement, the team has stated that the exchange platform will continue to remain in maintenance mode until further notification by the regulatory authorities of New Zealand. The NZ police and High Tech Crimes Unit are currently investigating the breach and the police stated that a “significant value of cryptocurrency may be involved” in the hack. So far, the team has not confirmed the total amount of cryptocurrencies that were stolen during the hack nor are the details of the stolen tokens disclosed to the public. However, a local news portal, Radionz stated that the amount of stolen funds are around $3.6 million, and was transferred to an unknown wallet. In addition to this, large transfers in Ethereum [ETH], the third biggest cryptocurrency by market cap, and Centrality [CENNZ] from the exchange to the unknown wallet is currently under the suspicion of belonging to the hacker. This movement was detected by Whale_Alert, a Twitter handle dedicated to detecting large transfers of cryptocurrency in the market. According to the tweet, over $1176596 [over one million] worth of CENNZ and $2438152 [over 2 million] worth of Ethereum was transferred out of the exchange. Now, a Twitterati who goes by the username, ShaftedTangu stated on the social media platform that the stolen funds are now being transferred to various cryptocurrency exchanges including Binance, a leading cryptocurrency exchange platform around the globe. Interestingly, the wallet address [0x9007a0421145b06a0345d55a8c0f0327f62a2224] mentioned by the Twitterati pictures a transaction of various ERC 20 tokens including coin such as Dentacoin, Kyber Network, Enjin Coin, and TrueUSD. This could mean that the hackers have swapped the ERC20 token with other ERC20 tokens. Additionally, ShaftedTangu claims that one of the wallets belongs to Digifinex, and the wallet has stolen MobileGo [MGO] tokens. The Twitterati went on to say: “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” The post Stolen Ethereum-based tokens transferred to Binance and other top exchanges appeared first on AMBCrypto.

a month ago

Binance Freezes Funds that Hacker Transferred from Cryptopia

Early Wednesday morning Binance CEO Changpeng Zhao (CZ) announced that Binance was able to freeze a portion of funds that it received from the attacker behind the Cryptopia exchange hack. CZ said, “I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it.” The hack of the New Zealand-based exchange saw the transfer of $2.4 million ETH to several different wallets and nearly $1.2 million worth of Centrality (CENNZ) was also stolen. At the moment, it is unclear who is responsible for the hack and rumors that Cryptopia moved the funds for security reasons have begun to circulate. Cryptopia has not directly addressed the matter but tweeted “We cannot comment as this matter is now in the hands of the appropriate authorities.” (RS)

a month ago

Binance CEO Changpeng Zhao Criticized for Appearing to Suggest Storing Crypto on Exchanges

Binance CEO Changpeng Zhao (CZ) is receiving scrutiny for a tweet that appears to advise investors to store their crypto holdings on exchanges instead of hard wallets. CZ’s tweet appears to insinuate that self-storage poses a greater risk than using a “reputable” exchange like Binance. Shortly after the tweet was posted, news of Cryptopia being hacked for nearly $3.5 million of Ethereum (ETH) and Centrality (CENNZ) broke and CZ began to receive negative responses to his tweet. In 2018 more than $731 million were lost due to exchange hacks and many investors believe that there is no such thing as a secure cryptocurrency exchange. CZ later clarified his tweet by explaining that it lists 3 cryptocurrency storage options but does not advise that investors choose one over the other. CZ also admitted that the tweet was meant to serve as an ad for Binance’s decentralized exchange. (RS)

a month ago

Cryptopia Exchange Claims Hack, Goes Offline, Losses Reported

Hackers have yet again successfully raided a cryptocurrency exchange and this time it is Cryptopia, an exchange operating in New Zealand. The exchange has since then gone offline, with reports emerging of cryptocurrency having already been stolen from the exchange. The announcement was made on Twitter by the exchange itself with the official account stating that it had “suffered a security breach which resulted in significant losses”: pic.twitter.com/0ZwqFfwwHi — Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019 As of now, Cryptopia is currently in unscheduled maintenance mode. According to Whale Alert that tracks large transfers of cryptocurrencies, more than ETH 19,391 were transferred to unknown wallets during the hack. Some 48 million Centrality (CENNIZ) tokens worth around USD 1.18 million were also moved. It is, however, not yet clear if the funds were moved by the hackers or the exchange itself. Cryptopia reached out to its traders with a follow-up announcement. It stated that the government agencies had been notified including the High-Tech Crimes Unit which was “jointly and actively investigating the matter as a major crime and they are assisting us with advice”. Several allegations have also surfaced against the exchange with some accusing the exchange of an exit scam, allegedly pre-planned. Ran NeuNer, a crypto host on CNBC Tweeted his thoughts, speculating that smaller exchanges will not survive such a hack and that this incident will benefit larger players. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: pexels.com The post Cryptopia Exchange Claims Hack, Goes Offline, Losses Reported appeared first on BitcoinNews.com.

a month ago

Cryptopia Exchange’s security breached; Possible loss of assets worth millions

After a brutal 51% attack on the Ethereum Classic [ETC], Cryptopia Exchange has now announced that their exchange has been compromised. On January 15, 2019, Cryptopia announced that their exchange was hacked on January 14, 2019, and that they suffered significant losses. The exchanged tweeted: “Once identified by staff, the exchange was put into maintenance while we assessed the damages. Staff then notified and involved the appropriate Government Agencies, including the NZ police and High Tech Crimes Unit who are jointly and actively investigating the mater as a major crime and they are assisting us with advice.” The tweet further mentioned that their exchange will remain under maintenance phase and all the trading will be halted until they can confirm and asses the damages. Meanwhile, on January 13, 2019, before the trading was halted on the exchange, a total of 48,029,306 CENNZ worth $1.17 million was transferred from Cryptopia to an unknown wallet, which was reported by @Whale_Alert. Source: Twitter | @whale_alert The news of the hack quickly circulated on the Twitter realm as Binance’s CZ retweeted this with a comment. He said: “Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost. Store on an exchange. Only use the most reputable, proven secure, exchanges. Or move to DEX, disrupt ourselves.” WhalePanda replied to CZ saying: “Exchange owner tells people to keep their coins on exchanges. Absolutely horrible advice.” RanNeuNer aka @cryptomanran, the host of “CNBC Cryptotrade” tweeted: “I’m interested to see how the Cryptopia hack plays out, how much was lost & whether they were negligent in storage. Will they be able to refund users given their size & the state of the market. I suspect many smaller exchanges won’t survive this and the bigger ones will benefit!” The amount of loss incurred has not yet been updated by the exchange, but the users are eagerly waiting to remove their funds out of the exchange. The post Cryptopia Exchange’s security breached; Possible loss of assets worth millions appeared first on AMBCrypto.

a month ago

⚡ There was no slowing down for the Centrality Ecosystem as ...

⚡ There was no slowing down for the Centrality Ecosystem as the year came to a close. Teams continued to gain momen… https://t.co/3xjBHFfke0

a month ago

Centrality will also be at JBC in January. Make sure you com...

Centrality will also be at JBC in January. Make sure you come and check out our booth! https://t.co/TWSvkZS4hP

2 months ago

New Zealand Research Suggests Economy Can Benefit from Blockchain Enterprise

A new report suggests that New Zealand’s third-largest export sector and high-tech workforce could benefit significantly from blockchain technologies. Economic benefits The report titled ‘Distributed Ledgers and Blockchains: Opportunities for Aotearoa New Zealand‘ was published by Callaghan Innovation, a state agency dedicated to innovation and research and development of “ambitious businesses of all sizes”. In it, the agency has thoroughly examined blockchain technologies and concluded that the nation’s IT sector, which presently rakes in NZD 16 billion a year with a workforce of almost 100,000, could grow to become the “second biggest contributor to gross domestic product by 2025” should blockchain be adopted sooner than later. Examining the present state of the nascent sector, the report reflects on the USD 20 billion raised through initial coin offerings (ICOs) since 2017, which it views as a massive opportunity for “startups, researchers and established businesses”. However, for New Zealand, companies who utilize crypto-tokens through either ICOs or operating cryptocurrency exchanges have struggled due to banking restrictions, as per the report, “urgent action is required to unblock access to basic financial services”. It is not a biased report; it acknowledges the numerous challenges within the nascent sector, namely “new consensus mechanisms to address scalability and energy efficiency, stable coins to address volatility, or data analytics to detect and prevent criminals from laundering money on public blockchains”. That said, the report goes on to identify how this landscape is changing in order to overcome these hurdles. It does so by highlighting several projects that are underway to address these problems. Workforce matters According to a blog post from Callaghan Innovation, the report’s research was partially funded by the Ministry of Business Innovation and Employment (MBIE) and was produced to promote the technology amongst domestic entrepreneurs and innovators. Offering his thoughts on the report, Andy Higgs, General Manager of Strategic Partnerships at Centrality said: “Blockchain presents a huge opportunity, with over USD 11 billion raised through initial coin offerings (ICOs) in the first half of 2018. New Zealand has a chance to lead the way, thanks to our sense of fairness and social inclusiveness, to ensure all New Zealanders benefit from the full potential of blockchain and decentralization.” With the inherently international nature of the blockchain industry, the study says that a blockchain company doesn’t have to be based in New Zealand to be able to provide work for New Zealanders. From this, it suggests that instead, it matters more where the “key personnel” are located within a distributed workforce, and should drive New Zealand to foster a world-leading workforce. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post New Zealand Research Suggests Economy Can Benefit from Blockchain Enterprise appeared first on BitcoinNews.com.

2 months ago

Centrality, along with @mysinglesource and @sylo are now pro...

Centrality, along with @mysinglesource and @sylo are now proud members of @digitalidnz. We're looking forward to wo… https://t.co/EtQKHESaSN

2 months ago

Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed

FOMO Moments Markets recouping daily losses, Binance Coin and Nem are in the green, EOS is getting hammered. The downward motion on crypto markets has continued today as digital currencies slid further back before making a recovery. Monday’s declines have carried on into Tuesday during the Asian trading session but total market capitalization has managed to recoup to similar levels below $130 billion a couple of hours ago. Bitcoin bulls have failed to keep the digital currency above $4,000 causing it to drop into dangerous territory. A 5% dump saw BTC fall to an intraday low of $3,840 a couple of hours ago before it managed to bounce back. At the time of writing Bitcoin had pulled back to just above $4k again. Ethereum has fallen back to $112 and does not look like making any discernible recovery anytime soon. Altcoins are all still red at the moment with some getting more punishment than others. In the top ten EOS is getting pounded with a 10% dive to $2.55 as more centralization woes plague the project. As has been the case for a few weeks now Bitcoin Cash is collapsing, it was the worst performing crypto in November and has lost another 6% today. There is only one winner in the top twenty at the moment and that is Binance Coin climbing 9% on the day. BNB has reached $5.60 as it partners with Decentraland with a MANA competition and crypto Airbnb platform Tripio. Nem and Dogecoin are also gaining a little but the rest are falling, Ethereum Classic and Bitcoin Gold by the most at 6%. Pump of the day goes to Factom again adding 27%, ODEM and Pundi X are also performing strongly at the moment with double figure gains. As predicted, yesterday’s fomo altcoins are dumping today, namely Centrality, Mithril and MobileGo, all dropping double digits along with EOS. Total crypto market capitalization has managed to bounce back to yesterday’s levels after hitting a low of $124 billion a couple of hours ago. At the time of writing it is around $129 billion which is no gain over Monday. Since last Tuesday markets have gained 4% but since the same time last month they have been smashed 38%. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed appeared first on NewsBTC.

2 months ago

Cryptocurrency Market Update: 17% Recovery Since Last Sunday’s 2018 Low

FOMO Moments Crypto markets are bouncing back again, Bitcoin SV, Cardano, Tron and Maker recovering well. There has been a marginal recovery from yesterday’s market dump this Sunday and things did not fall off the cliff again as we have seen in recent weeks. Total market capitalization has recovered to climb back to around $135 billion at the time of writing. Bitcoin hovered just below $4,000 on Saturday which served as support as it managed to rally back to over $4,200 adding 5% on the day. Since the middle of last week BTC seems to have started consolidating between these levels. Ethereum has also recovered 4% since yesterday and is back to $118 again. ETH has really struggled to get off the floor since its big November dump. Altcoins are mostly green this Sunday as Bitcoin SV seems to be making the most progress in the top ten at the moment adding over 9% on the day taking it back to $100. Cardano has also recovered well with a 7% gain and the rest are putting 3 - 5 percent back on today. In the top twenty Tron has just inched above Monero to take eleventh spot with a gain of almost 7% on the day. Iota, Neo and Ethereum Classic are all adding 6% to their prices during today’s Asian trading session. The rest have made around 4 percent aside from Zcash which hasn’t really moved today. Just outside the top twenty Maker is post a decent gain of 13%. Having a big fomo induced pump right now is a new entry to the top one hundred - Free Coin. A minor exchange listing seems to have initiated what will surely be another p&d with a 55% surge on the day. Also pumping at the moment is Centrality up 33% right now. Getting beat up at the red end of things is Theta Token predictably as it has been pumping for a few days. There are no double digit losers at the time of writing as nearly all of the altcoins are recovering this Sunday. Crypto markets have made about 4.5% since the same time yesterday bringing total market cap to $135 billion. Trade volume has stabilized at around $15 billion and markets have made over 17% since their lows last weekend. Last Sunday was the lowest point of 2018 when total market cap dropped to $115 billion. November in general has been the month from hell as markets collapsed by a third. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: 17% Recovery Since Last Sunday’s 2018 Low appeared first on NewsBTC.

3 months ago

What happens in Vegas, stays in Vegas...unless you smash the...

What happens in Vegas, stays in Vegas...unless you smash the Security Jam Hackathon at @AWSreInvent! Centrality was… https://t.co/XBAtr9EqCg

3 months ago

⚠️ Scam Alert ⚠️ There is a scammer pretending to be Central...

⚠️ Scam Alert ⚠️ There is a scammer pretending to be Centrality and giving away BTC as part of a false partnership… https://t.co/nTzGVkQI8d

3 months ago

Cryptocurrency Market Update: Stellar (XLM) Climbs to Fourth Spot

FOMO Moments Crypto markets have held their gains, Stellar and Zcash leading the way. Cryptocurrency markets have held on to their gains following two days of recovery from extremely low levels. Things are not great mind you and markets are still at very depressed levels for the year, but the good news is that they haven’t dumped any further over the past 24 hours and total market capitalization is still just below the $140 billion level. Bitcoin has stayed above the $4,200 resistance turned support level but has not moved and remains at just above $4,200 at the time of writing. BTC actually made it to $4,400 over the past day but could not get above it. Ethereum has remained flat just below $118, and falling back again its lowest level for 18 months. XRP in second hasn’t moved much either but remains firmly above ETH. Altcoins are generally on the up at the moment with some outperforming others. The top ten’s clear winner over the past day is Stellar which has made another 3% to take it above Bitcoin Cash and into fourth spot. XLM is currently trading at $0.167 with $100 million more in market cap than BCH which has fallen back slightly. EOS is also dropping while BSV and ADA fall another couple of percent each. Zcash is making moves in the top twenty as it gets listed on Coinbase Pro. ZEC made a further 10% on the day but fell back in the last hour as it hovers just above $80. The rest of the altcoins in this section have lost a percent or two during today’s Asian trading session aside from Tezos which is sliding 7%. Today’s big pump is Theta Token on 100% and Centrality with 8%. Getting dumped on is Sirin Labs Token which has been up and down like a yoyo in recent days. Today SRN is down 27%, Verge and Zilliqa also losing double digits in the top one hundred. Total market capitalization lower than it was this time yesterday, $136 billion, with a 3% slide. Trade volume has dropped back to $17 billion and things seem to be calming down as we round out another week. Bitcoin dominance is just under 54% maintaining its ratio over the altcoins which, as usual, suffer greater losses during market dumps. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Stellar (XLM) Climbs to Fourth Spot appeared first on NewsBTC.

3 months ago

We are UNbelievable, UNexpected, UNconventional. Today Centr...

We are UNbelievable, UNexpected, UNconventional. Today Centrality is embarking on an exciting new chapter - say hel… https://t.co/upkNkrXVir

3 months ago

💙 Centrality fam 💙 ...

💙 Centrality fam 💙 https://t.co/gkPP26xtpn

3 months ago

It’s a wrap! Singapore Fintech Festival has been a blast. Th...

It’s a wrap! Singapore Fintech Festival has been a blast. Thanks for coming out and getting to know Centrality,… https://t.co/wFzKXBwQfo

3 months ago

💪 Go teams go 💪 It’s Day 1 of #bootcamp for the Centrality A...

💪 Go teams go 💪 It’s Day 1 of #bootcamp for the Centrality Accelerator powered by @LightningLab. We’re helping grow… https://t.co/WS4jrNidIn

4 months ago

The Big Blockchain Lie? Unpacking Dr Nouriel Roubini’s take on Bitcoin and blockchain

If crypto needed a kick in the teeth to wake up, Dr Nouriel Roubini delivered. While he might be more famous for predicting the financial collapse of 2008, Roubini has in recent weeks taken to the press to argue against the development of blockchain technology, Bitcoin, Ethereum, and even Initial Coin Offerings (ICOs). At the Congressional hearing on Capitol Hill in Washington DC on October 11th, Roubini testified to US senators that cryptocurrency was “the mother or father of all scams and bubbles” - echoing the likes of other figures such as Warren Buffet and George Soros. Additionally, high-profile interviews on CoinTelegraph, as well as writing published on Project Syndicate, have seen Roubini declare his positionality. Roubini’s views are supported by a number of claims surrounding the blockchain industry. While many of them do have substantial merit, it’s also worthwhile to consider that cryptocurrency - as an emerging asset class and currency system - exists in relative novelty. In the wake of some of Roubini’s most recent remarks, let’s take the opposing view, and explore arguments as to why cryptocurrency might yet succeed. Centrality “There’s a lot of talk about decentralization: Miners are centralized as an oligopoly, coders are centralized, exchanges are centralized — as 99 percent of all transactions occur on a centralized exchange — and there’s a massive concentration of wealth. This is worse than North Korea in terms of income and wealth inequality... The reality is just the opposite: It’s a totally centralized system.” Centrality is (arguably) not a binary concept between the state of being ‘decentralized’ as opposed to ‘centralized’ - as recent interviews from Tone Vays, Jimmy Song, and Simon de la Rouviere perhaps demonstrate best, centrality more akin to a sliding scale - with some maximalists heralding Bitcoin as the gold standard (if you’ll pardon the phrase), while others allege that many altcoin projects require more time and exposure to become sufficiently decentralized. In that view, we have to regard Bitcoin as the most successful (and most decentralized) monetary system we have developed yet, where a distributed web of processing power forming consensus is the network authority. Coders committing improvements to Bitcoin or a range of other altcoin projects exist all over the world, decentralized exchanges have steadily shown growth, and while Bitcoin itself might have a terrible Gini coefficient (as a measure of inequality), it has been argued by the likes of Coinbase CTO Balaji S. Srinivasan that a totally new form of expression is needed to quantify decentralization in cryptocurrency networks. In the same way that other currency networks have grown, it’s further argued that solutions such as layer 2 scaling mechanics (such as the Lightning Network) will promote a further distribution of wealth as Bitcoin (in particular) moves from being a store of value to a true means of exchange. Mobile money There is already a revolution: there’s going to be much more competition, there’ll be much more access. If you are a poor farmer in Kenya today, you are using M-Pesa. On your little smartphone, you can make transactions, you can borrow and lend, you can buy and sell your goods and services, you have a whole slew of financial services without the brick-and-mortar bank. And all these things are available to billions of poor people in Africa. What [do] they have to do with blockchain or crypto? Nothing, zero. So, there is a revolution and it has nothing to do with blockchain.” Writing from South Africa, Roubini is right to say that mobile money platforms such as M-Pesa have cultivated immense support and have offered millions of Africans with an easy platform to trade, barter, and exchange goods and services with. What Roubini discounts, however, is that mobile money networks are tethered to fiat money in some of the most volatile markets around the world. While the African cryptocurrency revolution might just be getting started, we have already seen Bitcoin surge to premium prices in volatile markets such as Zimbabwe, with nations such as South Africa, Senegal, and other territories explore means to not only establish meaningful regulation around cryptocurrencies, but further explore their use cases for cultivating local markets, international remittances, and much more. In fact, cryptocurrency might benefit from the development of mobile money as a lynchpin of sorts to develop a system that is capable of operating at scale, has an easy-to-use interface, and can (most importantly) win over customers. Initial Coin Offerings “An academic study suggests that 81 percent of all ICOs were a scam to begin with; 11 percent of them have failed or have died; and of the remaining eight percent that is traded on exchanges, the top 10 have lost on average, in the last year, 95 percent of their value — more than Bitcoin. So, there was a bubble — and everybody was riding the bubble, everybody was issuing

4 months ago

Centrality is the glue for the framework and is geared towar...

Centrality is the glue for the framework and is geared towards mass consumer apps - Aaron McDonald speaking at the... https://t.co/T65xGx5Cm0...

4 months ago

Should we care about blockchain? The Centrality team sure th...

Should we care about blockchain? The Centrality team sure thinks so! We’re here with David Corbett, who heads up to... https://t.co/pPEzMeyUII...

5 months ago

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