MonaCoin MONA

Market Cap $ 73.226 MM (#86)
24h Volume $ 454.464 K
Chg. 24h: 0.33%
Algo. score 3.3/5  (#366)
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MonaCoin News

How To Choose An Altcoin

Altcoins have taken the brunt of the 2018 bear market losses, with some even losing ninety to one hundred percent or more of the gains made at the end of 2017. As the market stabilizes, smart investors will be looking to put their money into projects with substance and potential. The Golden Age Of Altcoins The end of 2017 brought great fortune to those who invested in cryptocurrency. Initial Coin Offerings (ICOs) exploded in popularity and many new investors found that they could throw money into practically any project using blockchain technology and cryptocurrency, and make back huge percentage gains. Suddenly, projects with nothing more than vague, long-term roadmaps were being funded left and right by investors who were brand new to the space. Investors who were blindly putting money into hyped up, flavor-of-the-week coins without so much as researching the goals and plans of the projects. The current 2018 bear market has been a valuable, albeit expensive lesson into what actually makes a project worth your hard-earned time and money. A New Era Investors should always do their due diligence when it comes to putting money into anything. Projects with actual working products and utility will have the most potential for profits when the next bull run kicks off. Historically, the final quarter of the year has been the best time for explosive growth and important project announcements and releases. NAGA is a prime example of a well-rounded blockchain project which has an underlying cryptocurrency, the NAGA Coin (NGC), that can be used in its expansive and multifaceted ecosystem. The NAGA Coin token sale ranked 2nd (2017) amongst top ICOs in terms of investor base with more than 63,000 investors and continues to develop and release resources for its platform, including a global market trading platform, a safe and secure software wallet, and a physical card that supports USD, EUR, and GBP. NAGA currently boasts seven working financial products, with another six that will be available soon. All of these integrated and complementary products set NAGA apart from the crowd. A Leg Up There are currently over two thousand cryptocurrencies listed on CoinMarketCap, ranked in the order of market value. It is important to note that the failure rate for ICO projects is a staggering 92 percent, with an average lifespan of only 1.22 years. The 2017 bull run caused ICO valuations that seemingly prioritized hype over real-world use. Digging deeper into some of the projects in the top 100 raises some flags. Take, for example, Verge, Dentacoin, and Monacoin, ranked 13th, 74th, and 75th respectively. Verge (XVG) is a privacy-centered cryptocurrency with little to offer other than a software wallet and the ability to transact the currency between them. It has also suffered multiple large-scale thefts on its network, yet remains in the top 50 cryptocurrencies in terms of market cap. Dentacoin is a blockchain solution for the dentistry market that debuted nearly one year ago. The project is quite niche and seems to only be useful as a dental hygiene education application. Monacoin is another decentralized payment solution clone similar to so many others in the saturated market. Fierce competition and innovation will eventually render many of these projects obsolete in the future. The team at NAGA, however, are constantly adapting and creating products that help give investors a leg up on the traditional and cryptocurrency markets and have far more intrinsic value than a large number of its competitors. What are some things that you look for when researching to invest in an altcoin? What are your thoughts on NAGA’s fintech ecosystem? Let us know your thoughts in the comments below! The post How To Choose An Altcoin appeared first on

8 hours ago

Stolen Cryptocurrency from Zaif Hack Traced to Europe

Recent developments may point to the September 2018 Zaif cryptocurrency exchange platform hack originating in Europe. Japanese investigators say they recently uncovered German and French IP addresses attempting to move some of the stolen cryptocurrency from the Zaif heist. Suspected Cryptocurrency Exchange Hackers Traced to France and Germany Japan Digital Design, a subsidiary of the Mitsubishi UFJ Financial Group (MUFG) in conjunction with cybersecurity firms - TokyoWestern and EL Plus, recently announced tracing some of the stolen Zaif funds to places in Europe. According to UPI, the investigation uncovered an attempt to send MonaCoin (one of the stolen cryptocurrencies) to another wallet. The investigators flagged the IP addresses between October 20 and October 22, 2018, about one month after the initial heist. Of the five transfers flagged, four originated from France while the other one was from a German IP address. The investigation used cloud-hosted nodes, mostly from Amazon Web Services (AWS) to reveal the IP addresses of the suspected hackers when they tried to move some of the stolen MonaCoin. Local media sources in Japan say local police is coordinating with their counterparts in Europe to track down the suspected hackers. In September 2018, Live Bitcoin News, reported that hackers stole more than $60 million in cryptocurrency from Zaif - a Japanese virtual currency exchange platform. At the time, reports indicated that it took about four days before anyone noticed the theft even though the hackers carted away almost 6,000 BTC as well as Bitcoin Cash and MonaCoin. More than 60 percent of the stolen coins were from customer deposits. As such, the platform promised to refund affected customers. In October, the platform sold a majority of its shares to FISCO to raise enough money to pay back affected depositors. Asian Exchanges Under Siege At the time of the Zaif heist, it was the latest in a series of compromised cryptocurrency exchange platforms in Asia. While there is an argument to be made about the region being the leader in the global cryptocurrency narrative, security concerns continue to plague exchanges domiciled in countries like Japan and South Korea. 2018 began with the Coincheck heist that ran into more than half a billion dollars. This event prompted the regulators in Japan to call for more robust security measures. In South Korea, platforms like Bithumb and Coinrail have also suffered hacks in 2018. Do you think the police will be able to catch the hackers responsible for the Ziaf heist? Let us know your thoughts in the comment section below. Images courtesy of Shutterstock. The post Stolen Cryptocurrency from Zaif Hack Traced to Europe appeared first on Live Bitcoin News.

5 days ago

Caspian Interview: COO David Wills Explains Caspian’s Aim to Cater to Institutional Clients Seeking to Invest in Crypto in Volumes Never Seen Before (Exclusive)

Caspian, the complete asset management solution, recently completed a $19.5 Million token sale early. They are aiming to become the lead player in facilitating institutional clients crypto trading activities. They have amassed some impressive strategic partners along the way including Galaxy Digital, Michael Novogratz, B2C2, Coinbase, BitMex, Octagon, Gemini and many more. Recently Blokt reached out to David Wills, the COO, and co-founder of Caspian. David covers various topics in the interview including Caspian’s joint venture origins, how the funds from the token sale will be used, and also the opportunities that lie ahead for Caspian. David also outlines the vision for Caspian and how it can place itself as a leader in servicing institutional clients. The interview went as follows: Could you introduce yourself and tell us about your role at Caspian? I’m David Wills, the Chief Operating Officer (COO) and Co-Founder of Caspian. I also serve as COO of Kenetic, one of the joint venture partners behind Caspian. Prior to joining Kenetic, I spent 10 years as Managing Director and Head of Asia Trading at Och-Ziff Capital and was also the chairperson of HKEX’s hedge fund market council. Could you tell us what Caspian is all about in a few sentences? Caspian is a full-stack crypto asset management platform that ties together the biggest crypto exchanges in a single interface. The platform also offers compliance, algorithms, portfolio management, risk, and reporting. It is a joint venture between Tora and Kenetic, which both have a wealth of experience in asset management that has been accumulated over decades of building and operating trading platforms and technologies as well as managing portfolios of different asset classes including cryptocurrencies. Our development team is leveraging the capabilities and resources of two existing, successful financial businesses to build an ecosystem that enables professional traders and investors to operate more efficiently and improve their performance. Caspian just completed a successful $19.5m token sale early, could you tell us about that and how the funds will be used? We’re extremely pleased with the results of our token sale, which will help us to achieve the key milestones in our development roadmap. It is this area where most of the funds raised will be focused, with 40% earmarked for technology, research, and development. We have reserved 25% for sales, marketing, and infrastructure, 15% for application support and 12% for developing partnerships. Finally, 5% of the funds are reserved for accounting, legal and compliance, as well as 3% for administrative costs. Caspian is “institutionalizing crypto asset management,” what effect will that have on the market/industry? We believe the effect that Caspian will have on the asset management industry will be broad and transformational. Many people have commented throughout 2018 that one of the major trends within cryptocurrency trading is the influx of institutional and sophisticated investors. However, building the appropriate systems that allow these users to access crypto markets in a way that is familiar and friction-free is another matter. Caspian is perfectly placed to do exactly that, firstly because of the experience we have in meeting investor needs within traditional finance markets, and secondly because of our technological capacity to connect them to the best prices within a fragmented cryptocurrency environment. One example of where our experience counts is in the Over The Counter (OTC) market, which many sophisticated investors are currently using to buy and sell large amounts of Bitcoin. This activity, which is typical in traditional finance markets, takes place completely separately from exchanges but accounts for a huge volume of Bitcoin. However, our partnerships with OTC specialists’ B2C2 and Octagon shows how well Caspian is positioned to facilitate this activity. Could you tell us about the Caspian institutional grade trading platform? The Caspian institutional grade trading platform sits between institutional investors and the cryptocurrency exchanges they want to access in order to trade. It includes a fully developed OEMS, PMS, and RMS with compliance monitoring tools. It provides a single interface into all major crypto exchanges, a complete suite of sophisticated trading algorithms through a Smart Order Router, real-time and historical P&L and exposure tracking, and 24/7 customer service. Caspian has some impressive strategic partnerships, could you tell us about those? You’re right to say that our partnership strategy so far has been very successful, with a number of exchanges, investors, technology providers and advisors all having chosen to join us on this journey. Our most recent partnership was with OTC trading specialist B2C2 will make it much easier for larger investors wanting to increase their exposure to cryptocurrency markets. This built on another major recent partnership we signed

7 days ago

Hackers Behind $60 Million Zaif Exchange Theft May Have Been Found

Cybersecurity analysts at Japan Digital Design believe that they may have found the hacking group behind the $60 million hack of Japan’s Zaif cryptocurrency exchange. A press release from the company revealed that analysts had been carefully investigating the outflow of funds from Zaif since the hack and they noticed that some of the stolen Monacoin tokens began moving last month. The team was able to observe 5 questionable transactions beginning on October 20 and the movement allowed analysts to identify the “source” of the attacker. The press release also stated that the team shared this information with Japanese authorities and Monacoin. (RS)

7 days ago

Custodial Giant BNY Mellon Sends Cease-and-Desist Letter to Rival Melonport, a Decentralized Asset Management Project

The Bank of New York (BNY) Mellon, which oversees more than $33 trillion in custodial assets, has requested that Zug, Switzerland-based decentralized asset management project Melonport stop pursuing certain trademark applications. BNY Mellon sent a cease-and-desist letter to the smart contract-powered startup, citing concerns surrounding trademarks. Melonport Co-Founder Mona El Isa tweeted about the request, saying that “MLN is decentralized, it has no power” and adding that the startup will be “winding down in February.” Nonetheless, “it won’t stop you from getting disrupted,” she said in a comment directed at BNY Mellon. Melonport will be dissolved in February and “the protocol will be handed over to the governance system,” according to the Melonport team in a tweet. (GT)

16 days ago

ICO Trust Returning as Caspian Rakes in Nearly $20 Million Ahead of Deadline

A crypto project has revived the investors’ trust in initial coin offerings by raking in $19.5 million via crowdfunding. Caspian, a Cayman Island-based project, achieved its hard cap before the set date, implying a successful kick-start for the development of its institutional crypto trading platform. A beta-testing round of the platform is live already, which displays the crypto listings of the biggest crypto exchanges, including Techemy, Blockstars, OSL, and Galaxy Digital, in a single user interface. Further Developments The raised $19.5 million would be channeled to enhance the research & development and sales & marketing of the Caspian platform, according to its official website. With a beta version already out, the future upgrades would see the inclusion of sophisticated trading algorithms, real-time and historical profit-and-loss and exposure tracking. But most importantly, Caspian would allow institutionally traders the much-needed interchangeability between crypto exchanges via a single dashboard. The project has already garnered partnerships from leading crypto trading institutions like Coinbase, Gemini and BitMEX. As part of the deal, Caspian will integrate with the said exchanges to bring new sophisticated trading and portfolio management functionality. It would serve to the growing number of professional crypto trading firms around the world. “We see this partnership as not only a tremendous commercial opportunity but as a chance to truly move forward the institutional adoption of crypto as a mature, tradable asset class,” said Kayvon Pirestani, Director of Institutional Sales at Coinbase, about Caspian. The project also has renowned Bitcoin bulls like Mike Novogratz, Mona El Isa, and Ari Paul serving as advisors. Institutional Money and Trading Tools El Isa, the founder of MelonPort, an Ethereum-based asset management project, said that Caspian is attempting to fill the gap between institutional investors and the professional crypto trading tools. “Cryptocurrencies will play an increasingly big role with institutional players, yet to date, the sophisticated trading and portfolio management tools have not been available for this asset class,” she recognized. So far, the mainstream investors willing to inject massive amounts of money into the industry are limited by the lack of liquidity across online exchanges. They are therefore opting for mildly-regulated OTC markets by taking enormous counter party risks. Caspian’s co-founders, David Willis and Robert Dykes, emphasized the demand for tools that simplify the entry of institutional investment in the crypto space. Dykes quoted Fidelity as an example of how even the world’s fifth largest asset management company is working towards mitigating the counter party risk in Bitcoin OTC markets, adding that tools like these are “gaining momentum.” “With Fidelity announcing the launch of a much needed custodial solution that allows investors to outsource the safekeeping of their assets to a trusted intermediary, coupled with the intuitive and user-friendly nature of a software platform like Caspian for the management of these assets, the floodgates have opened for institutional money to enter the market,” he stated. Caspian is reportedly in process of adding 170 customers to its platform, including Lykke, ID Theory, Bletchley Park, and ex-Point 72 manager Travis Kling’s Ikigai Asset Management. Image from Shutterstock The post ICO Trust Returning as Caspian Rakes in Nearly $20 Million Ahead of Deadline appeared first on NewsBTC.

20 days ago

A Year After Launch, BTCPay Has Grown Larger Than Its Creator Expected

First hinting at his project in a reply to a BitPay tweet on August 2017, Nicolas Dorier boldly claimed that BTCPay would make one of crypto’s most popular payment processors obsolete. In an r/Bitcoin post two months later, he clarified that his brainchild isn’t meant to “take the place of BitPay.” Rather, BTCPay is poised as a new and improved alternative, a decentralized stand-in for merchants who wanted an easier way to accept bitcoin. A year later, the project has grown larger than Dorier anticipated. With a community of open-source developers at its back and growing demand from a faithful user base, the payment processor has expanded its support past bitcoin and has integrated with many of the web’s most popular point-of-sale (PoS) plug-ins. It has become a meteoric success. But for what started out as a hobbyist’s side project, this success has, in some respects, become unwieldy.A Fork in Response to a Fork Dorier launched BTCPay at a time when a contentious proposed Bitcoin hard fork was sending tremors through the community. BitPay’s approach to this hotly contested fork, Dorier told Bitcoin Magazine, was part of the reasoning behind BTCPay’s creation.“BTCPay was created when BitPay was trying to force all their merchants to use another altcoin instead of Bitcoin. The priority for BTCPay was to make sure that all software written to work on BitPay will work on BTCPay with minimal (or no) change.”The “altcoin” Dorier refers to is B2X, the unsubstantiated product of the failed Segwit2x hard fork. A controversial proposal at the time, the protocol change intended to double Bitcoin’s block weight limit. While proponents saw this as a necessary scaling solution, opponents argued it would open up security vulnerabilities, and many of these same opponents distrusted the invite-only, conspiratorial meeting that gave birth to the planned fork.Incidentally, the fork never really made it off the ground. Still, a number of Bitcoin-related companies around the world supported it, and BitPay was part of a not-inconsequential list of companies that said they would treat Segwit2x as Bitcoin, given enough community consensus.Dorier was not a fan. A part of the NO2X movement himself, the developer decided to create BTCPay in the face of what he viewed as an uneven, centralized decision in BitPay’s commitment to B2X. His alternative in BTCPay is meant to offer the convenience of BitPay’s payment processor API without the counterparty risk or centralized custody inherent in its parent technology. To create this alternative, Dorier simply forked BitPay’s open source code.“Redeveloping all of it would have consumed lot's of my time. By using the same API shape as BitPay, I can basically fork their open source work and easily make it work on BTCPay.”With BTCPay, users never relinquish control over their private keys, and they can even host their own node to buttress the platform’s services. As Dorier put it, this opens up the potential for “new things becoming easily possible,” such as integrating the Lightning Network or atomic swaps.With a New Platform, New Services (and Coins)For those who are less technologically savvy, BTCPay won’t leave them behind.Node hosting on Microsoft's Azure provides 1-click deployment for the average merchant, who can pay a third party to host a BTCPay node on their behalf. Dorier stated that this node hosting service is the most popular and oldest available, though a rising competitor is cutting into its dominance. Luna Node is gaining traction among BTCPay’s merchants, mainly because it is cheaper to host on the service ($10/month as opposed to $60/month for Azure). On top of this cost reduction, it also accepts bitcoin as a form of payment and has a more intuitive setup wizard, Dorier claims.On the topic of merchants, BTCPay’s most integrated plugins are Drupal, WooCommerce, Magento and PrestaShop. Dorier told us that Shopify “is the most asked [for],” though he said that it’s difficult to “get a foot in the door” with them unless you’re a big company.For those merchants that leverage BTCPay, they have access to more payment options than the platform’s counterpart in BitPay. Though BTCPay is “mainly focused on Bitcoin,” as Dorier put it, community developers have also added support for litecoin, dash, dogecoin, monacoin, bitcoin gold, feathercoin, groestlcoin, viacoin and polis. Dorier believes that there is enough interest for stratis, monero and ether to see their own support as well, though he emphasized that “the burden of integration is in the hands of the altcoin communities,” as he himself will not go out of his way to add them.With Growth, Growing Pains and LimitationsEven with its fast-growing success, BTCPay has its tradeoffs and limitations.One of these is lack of a fiat on-ramp. One benefit of BitPay’s centralization and custodial services is that it can support seamless crypto-to-fiat conversions. For a decentralized BTCPay, this feature has been markedly absent from its

20 days ago

Caspian Completes Token Sale Early After Raising $19,500,000

Institutional trading could get a head start in the cryptocurrency sector as trading platform Caspian closed its token sale early, after raising $19.5 million. The platform’s partnerships with BitMEX, Coinbase, Gemini, OSL and advisors like Ari Paul and Mike Novogratz have helped it gain more interest amongst the investors. The company raised funds via private and public token sales that saw investors from Canada, UK, South Korea, Singapore, Hong Kong, Switzerland, Australia, and other countries. Global Group of Investors Comes Together The token sale for Caspian was completed ahead of schedule as the company reached its hard cap of $19.5 million. The institutional trading platform has already gone live with an extensive beta-testing phase. The platform is designed for institutional-grade digital asset trading. Caspian’s co-founder and COO David Wills commented on the event, saying: “Selling out the crowdsale is a huge milestone in the growth of our company and our journey to build the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors. Caspian is a critical tool to assist the rapidly growing number of financial institutions seeking to trade cryptocurrencies.” Customers Are Waiting for Caspian Around 170 customers are waiting to get started on the Caspian platform, according to the company. Around 15 clients are already a part of the onboarding process. Some of these clients are ID Theory, Lykke and Bletchley Park. Ikigai Asset Management from the ex-Point72 manager Travis Kling is also in line to start using the platform. 15 global crypto institutions are live on the platform, including OSL, Blockstars, Techemy and Galaxy Digital. Co-founder and CEO of Caspian Robert Dykes said that the tools needed to enable institutions to make serious crypto investments are gaining momentum. He also referred to the recent move by Fidelity Investments to establish a new company to facilitate institutional investments in the cryptocurrency sector. Fidelity would be providing crypto custodial services to clients. Dykes said: “With Fidelity announcing the launch of a much needed custodial solution that allows investors to outsource the safekeeping of their assets to a trusted intermediary, coupled with the intuitive and user-friendly nature of a software platform like Caspian for the management of these assets, the floodgates have opened for institutional money to enter the market.” MelonPort founder, former Goldman Sachs star trader and Caspian advisor Mona El Isa said that digital currencies will play an “increasingly big role” with institutional players. Caspian Completes Token Sale Early After Raising $19,500,000 was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

20 days ago

Russian Cybersecurity Firm Says Hackers Have Stolen $882 Million From Cryptocurrency Exchanges in Almost Two Years

A Russian cybersecurity firm has released reports stating that hackers have stolen $882 million from cryptocurrency exchanges in almost two years. $882 Million and Counting A cybersecurity firm based in Moscow, Group-IB, conducted research which revealed that hackers have stolen up to $882 million from digital currency exchanges. As reported by Bank Info Security, the theft has been going on for almost two years. Group-IB also stated that the figures were likely to grow in 2019. The potential increase is because experienced hackers including Lazarus, MoneyTaker, and Cobalt focus more on cryptocurrency exchanges and ICOs. Further commenting on the likely rise in theft in 2019, Group-IB said: In 2019, cryptocurrency exchanges will be a new target for the most aggressive hacker groups usually attacking banks. The number of targeted attacks on crypto exchanges will rise. The company added that hackers employed different methods to attack cryptocurrency exchanges. Some of the effective techniques included the use of phishing emails and malware installation. Furthermore, attacks also involved virtual currency companies which launch ICOs. The cybersecurity firm noted that fraudsters stole over 10 percent of ICO between February 2017 - September 2018. A study by the firm showed a compilation of attacks starting from February 2017 till the end of September 2018. According to the tally, theft ranged from $5 million to $534 million, bringing the total sum to $882 million. Recently, CipherTrace, a U.S. - based cryptocurrency and blockchain solutions provider, issued a similar report saying that such thefts were closer to $1 billion. According to CipherTrace, virtual currency theft increased astronomically in 2018. Cryptocurrency Exchange Hacks in 2018 The year 2018 has been a trying year for many virtual currency exchanges. With the anonymous nature of cryptocurrency transactions and the lack of adequate security, hackers continue to penetrate the digital currency industry easily. A high-profile cryptocurrency theft occurred back in January, when Japanese Bitcoin exchange, Coincheck, lost about 523 million NEM to hackers. Another cryptocurrency exchange platform based in South Korea, Coinrail, also experienced a cyber-attack South Korea exchanges suffered another blow when Bithumb, said that hackers stole $30 million in cryptocurrency. Zaif, a Japanese cryptocurrency exchange, announced that hackers stole 5,996 BTC and an undisclosed amount of MONA and BCH. Asian cryptocurrency exchange platforms seem to be the worst hit, with Japan and South Korea getting a major share. The reason for the high rate of theft, however, is that cryptocurrency exchanges store cryptos in unsecured hot wallets. The Japan FSA have taken steps in ensuring investors’ funds are safe. In January, the FSA issued a business improvement order to Coincheck following the hack. The JVCEA has also sought to tighten the management and security of consumer-owned digital currency holdings. Image courtesy of iStock. The post Russian Cybersecurity Firm Says Hackers Have Stolen $882 Million From Cryptocurrency Exchanges in Almost Two Years appeared first on Ethereum World News.

24 days ago

Younger women tend to marry older men in the US. That’s finally changing

In August 2018, the Indian actress Priyanka Chopra announced she was engaged to the American pop singer Nick Jonas. The 36-year-old Chopra is more than 10 years older than Jonas, who just turned 26. According to friends, Jonas likes it that way, as he prefers older women. Increasingly, he is not alone. The number of opposite-sex marriages in which the woman is older or the same age as the man is rising rapidly in the US, according to an analysis by the University of Maryland sociologist Philip Cohen. From 2010 to 2016, the estimated share of never-before-married women who wedded a man their age or younger rose from less than 34% to over 37%. It is an astonishingly rapid change for such a short period. Unfortunately, since the US Census did not collect data on when newly married couples prior to 2008, it’s difficult to know past trends. A Quartz analysis of longer-term data suggests that while the age difference between married couples has long been declining, the fall in the 2010s has been unusually quick. Not only is the share of marriages in which the woman is older rising, the number in which the man is significantly older is falling. In 2008, about 8.2% of never-before-married women tied the knot with a man at least 10 years older. In 2016, that number was down to 7.3%. As a result of these changes, the average difference in age between newlyweds fell from about 2.6 years in 2008 to less than 2.3 years in 2016. This trend is probably a good thing for healthy marriages. There is compelling evidence that marrying someone closer to your own age makes you less likely to get divorced. In a 2017 article for the New York Times, the data journalist Mona Chalabi protested the “bonus years” men get from marrying later and coupling with younger women. Why should men get to extend their youth and improve their financial standing before having marrying and having kids? Chalabi is in luck: Those “bonus years” appear to be disappearing.

a month ago

DATx Develops a Cross-Chain Hub for the Blockchain Ecosystem

DATx, a blockchain project that deals with building industry infrastructure, has added the functionality of cross chain interoperability to its DaTx public chain. DaTxChain will use its cross chain protocol for several supported blockchains like ETH, BTC, and EOS making it a hub for the blockchain ecosystem. Global BD of DATx, As Mona believes the lack of cross-chain interoperability protocols is a threat to dApps development and the blockchain ecosystem as a whole. She believes communication between blockchains will ensure a mass adoption of the blockchain. DATx was founded by Cosima Foundation early this year. (KE)

a month ago

Japanese Exchange Takeover: Zaif Transfers All Crypto Services to Fisco

Japanese crypto exchange Zaif has concluded a business transfer agreement with another regulated crypto exchange in Japan. Fisco Cryptocurrency Exchange will take over all of Zaif’s services and will be responsible for repaying users who lost their coins when Zaif was hacked last month. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Business Transfer Agreement Tech Bureau, the operator of Zaif, has signed an agreement to transfer Zaif’s business to Fisco Cryptocurrency Exchange (FCCE), the company announced Wednesday. Zaif claims that it was hacked on Sept. 14, with approximately 7 billion yen ($62 million) stolen. On Sept. 20, Fisco Co. Ltd., the parent company of Fisco Cryptocurrency Exchange, announced a plan to provide 5 billion yen to help Tech Bureau compensate its affected users in exchange for the majority of the company’s shares. Fisco and Tech Bureau have since been working on a business transfer agreement with a tentative transfer date of Nov. 22. “While the details of specific measures addressing damages to Zaif users are under consideration, a formal business transfer agreement for the Zaif business to FCCE was concluded,” Fisco wrote, adding: It has been decided that all of Zaif’s services will be passed to FCCE including handled cryptocurrency, exchanges, vendors, credit transactions and Bitcoin Airfx [derivatives trading]. FCCE will also carry out the return of cryptocurrency that Zaif users lost in the outflow during the hacking incident, etc. (including debt for payment in kind for reasonable amounts of money). Japan currently has 16 regulated crypto exchanges. Both Zaif and Fisco Cryptocurrency Exchange were licensed by the country’s Financial Services Agency in September last year. In August 2017, Fisco announced the launch of “Japan’s first bitcoin-denominated bonds.” Fisco’s Long-Term Agreement With Tech Bureau The two companies have been working together since 2016. When Fisco Cryptocurrency Exchange began operations in August 2016, it licensed the use of Tech Bureau’s white label system to provide liquidity to the new exchange. Two days prior to the hack, on Sept. 12, Fisco Cryptocurrency Exchange reviewed its system in order to stop using Tech Bureau’s white label system and start using its new trading system provided by Ccct Inc., a wholly-owned subsidiary of Caica Inc. Plan to Compensate Zaif’s Users After discovering the security breach on Sept. 17, Zaif immediately suspended several services, including deposit, withdrawal, and merchant payment. The exchange claims that 5,966 BTC, 42,327 BCH, and 6,236,810 MONA were stolen. According to Wednesday’s announcement, Zaif has resumed some services for BTC and BCH, including “transactions, buying and selling through simple transactions and savings.” Tech Bureau clarified that deposit and withdrawal services “are scheduled to resume after operations have been assumed by Fisco Cryptocurrency, with the specific resumption date to be announced at a later date.” For MONA, “compensation will be made in Japanese yen to the equivalent value” of the amount held by each user at the rate of 144.548 yen per coin, Tech Bureau detailed. At the time of this writing, MONA is trading at 148.4 yen on Zaif. What do you think of Zaif transferring all crypto services to Fisco Cryptocurrency Exchange? Let us know in the comments section below. Images courtesy of Shutterstock, Zaif, and Fisco Co. Ltd. Need to calculate your bitcoin holdings? Check our tools section. The post Japanese Exchange Takeover: Zaif Transfers All Crypto Services to Fisco appeared first on Bitcoin News.

a month ago

Hacked Cryptocurrency Exchange Compensation Plan Back on Track

Tech Bureau, the operators of Zaif Cryptocurrency Exchange, has released its financial plans to compensate affected customers’ accounts from last month’s hack. Fisco Digital Asset Acquires ZAIF Cryptocurrency Exchange In a press release issued on Wednesday, Tech Bureau announced the conclusion of the business deal with Fisco Digital Asset Group. As previously reported, after the September 14 breach of Zaif’s hot wallets, the operators announced plans to go into agreement with Fisco Digital Asset to sell majority stock of the exchange and receive financial support to settle the 4.5billion Yen worth of customer assets lost in the breach. According to the press release, Tech Bureau concluded negotiations with Fisco on October 10, 2018. However, the final agreement is a business transfer arrangement as against the majority stock acquisition initially reported. Despite a change in the final agreement, Tech Bureau has assured the affected customers Fisco will assume the responsibility of issuing the financial support promised them. A portion of the press release reads [rough translation]: In the official contract between the Fisco virtual currency exchange corporation and our company, the use contract * between our company and our customers is included as a successor. Therefore, the contractual relationship between us and the customer will be transferred from our company to the Fiscal Virtual Currency Exchange Co., Ltd. by business transfer. Upon successful conclusion of the transfer agreement, Tech Bureau will hold a general shareholder’s meeting on November 19, and the business transfer will happen on November 22. Financial Support Plan for the Lost Cryptocurrencies Regarding customers’ right to receive compensation of any lost cryptocurrency deposited with Zaif, under the terms of this new arrangement, Fisco will assume the responsibility of disbursing compensation to victims of the September 14 hack. The official report issued by Tech Bureau at the time of the breach showed that hackers stole 5,966 BTC and an undisclosed amount of MONA and BCH rom the exchange’s hot wallet. For customers who lost Monacoins in the breach, the notice specifies a compensation plan of 40% of a customer’s Monacoins with the Japanese Yen at a rate of ¥144.548 to 1 Monacoin. The platform plans to return the remaining 60% as Monacoins to the affected accounts and available for withdrawals at the re-commencement of withdrawal services on the exchange platform. Tech Bureau will however not continue trading Monacoins beyond 5 pm on Wednesday. This is so the company can easily verify the number of Monacoins available in each customer’s account to finalize the compensation scheme. Concerning Bitcoin and Bitcoin Cash, deposits and withdrawal services will be available upon the completion of the business transfer. Even though there is a formal agreement for the business transfer, Fisco requires individual customer approval for the transfer to be effective. Fisco and Tech Bureau will make an official announcement concerning the acceptance procedure. For customers who agree to the transfer, Fisco will assume contractual responsibilities over their accounts and the contracting party will change from Tech Bureau to Fisco. Customers who do not approve will retain their accounts with Tech Bureau. Cover Image courtesy of Shutterstock. The post Hacked Cryptocurrency Exchange Compensation Plan Back on Track appeared first on Ethereum World News.

a month ago

Japanese Crypto Exchange Zaif Partners with Fisco to Compensate Users after $60M Hack

Zaif’s major hack that happened last month was widely covered by media and it is quite explicable as the hack resulted in $60 million lost and affected a great number of users. CoinSpeaker has reported about this situation as well. Zaif is a licensed cryptocurrency exchange operated by Tech Bereau Inc. Though the Japanese authorities have already taken several regulatory measures this year, the market is still not fully protected from potential hacks. The hack happened on September 14, as soon as the exchange noticed an unusual outflow of funds, it immediately suspended its deposit and withdrawal services. Nevertheless, quite an impressive amount of $60 million worth of cryptocurrencies, including 6,000 Bitcoin, was stolen. Other lost digital assets included Bitcoin cash and the Monacoin cryptocurrency. A little bit less than a month has passed since the hack and Tech Bureau has announced the latest update on the refund plan. As it has been revealed, the exchange’s operator signed an agreement with a publicly listed investment firm in Japan called Fisco. Earlier, it was said that Fisco Digital Asset Group has expressed its desire to invest a large amount of fund into the company for refund purpose. It was planned that Fisco would provide “financial support of 5 billion yen, enter a capital alliance enabling acquisition of a majority of the Company’s shares and allow for a majority of directors and the dispatch of an auditor.” But as it has turned out, now the proposed terms have been changed and the companies have taken a decision to focus on a business transfer method. Under the agreement, Tech Bereau will transfer the business of Zaif to Fisco Cryptocurrency Exchange. According to the announcement, this move will help to prevent any potential risks both for users of the platform and Fisco itself. According to the information that has been disclosed by the current moment, it is expected that Tech Bureau will organize its general meeting for shareholders on November 19, will 3 days later, on November 22 the business will be transferred to Fisco. In the framework of the business transfer deal, Fisco will resume the compensation process. As Fisco has been operating a Bitcoin exchange since August 2016, to compensate the exchange’s clients who lost their crypto assets in the hack the company will use its own Bitcoin and Bitcoin cash. As for Monacoin, the company will repay this type of crypto assets in the form of Japanese Yen at a rate of $1.28 per unit. It is reported that lost assets will be compensated 60 percent in crypto and 40 percent in fiat currency. Moreover, on October 10, all Monacoin transactions on the Zaif platform were completely ceased, while Bitcoin and Bitcoin Cash transactions are said to be conducted “as normal”. It has also become known that Tech Bureau is planning to dismiss its crypto exchange business and will request the Japanese Financial Services Agency to abolish the license. The post Japanese Crypto Exchange Zaif Partners with Fisco to Compensate Users after $60M Hack appeared first on CoinSpeaker.

a month ago

Zaif Exchange Reveals Plan to Compensate Customers After Recent Hack

Today Zaif Exchange posted a financial support and re-compensation plan on their website. The Japanese exchange recently suffered a $60 million hack due to lax security processes. At the time of the hack, customers were informed that Zaif operator Tech Bureau Inc. planned to seek financial assistance from the Fisco Digital Asset Group. Now that an agreement has been reached, Fisco intends to provide “financial support of 5 billion yen” and the agreement further explains that all business related to Zaif exchange will now be handled by “Fisco Cryptocurrency Exchange.” The final terms dictate that Fisco will ensure that all customers receive accurate compensation of their funds in Monacoin and Japanese yen. (RS)

a month ago

Recovery Bitcoin (BTC) Litecoin (LTC) OmiseGo (OMG) Price

Recovery Bitcoin (BTC) Litecoin (LTC) OmiseGo (OMG) Price The market is in green with an average percentage of change among top 100 coins being around 2%. The biggest gainer is MonaCoin with an increase of 22%. Ripple is up by 1.75% and Electroneum recovered by 17.3%. Market Cap: $212,096,714,062 24h Vol: $14,600,681,459 BTC Dominance: 52.7%From yesterday’s...

a month ago

Zaif Hack Update

Zaif exchange was hacked nearly $59 million earlier this week and for some reason it took a number of days for the platform to even notice that there was a breach. The exchange has now come under the careful watch of the Financial Services Agency (FSA) and the owners of Zaif have pledged to right the situation by selling their stake and repaying victims. Zaif was one of the exchanges to receive a “punishment notice” from the FSA earlier this year and the exchange had been warned that its internal control mechanisms were insufficient. The most recent hack occured on September 14 and lasted for nearly two hours. During this time the hackers stole $40.1 million from users’ hot wallets and another $19.6 million from Zaif exchange. Bitcoin, Bitcoin Cash and MonaCoin were the three coins stolen from the exchange and at the moment investigators are unsure how many of the altcoins were stolen. Earlier this year Zaif experienced a “system glitch” which allowed users to temporarily accrue trillions of dollars in BTC for free. (RS)

2 months ago

Hackers Steal Over $60 Million From Japanese Crypto Exchange Zaif

A Japanese cryptocurrency exchange was recently hacked resulting in the loss of over $60 million worth of cryptocurrencies. After the hack, the users of Zaif crypto exchange were denied access to deposits and withdrawals. The hacking becomes several months after another exchange, Coincheck, was hacked. Although the exact amount stolen by the hackers is still being calculated, the exchange released a statement revealing that about 5966 BTC and unknown amounts of Mona coin and Bitcoin Cash were stolen. (SK)

2 months ago

More European Users to Access Abra

Abra has opened a new deposits channel through which the European Union Nations together with residents in the Single Euro Payment Area(SEPA) can transfer their Euros and other currencies from different nations directly to Abra. Abra, after the transactions are successful, deposits bitcoin into the digital wallets of users who would convert them to a cryptocurrency already in the app (28) including TRX, BAT, and ADA. According to SEPA standards, the European countries together with Iceland, Switzerland, Monaco among others could make payments across borders using direct debit card transactions. SEPA has teamed up with Coinify for the support of European banks. (VK)

2 months ago

Crypto-Taoism as the Cure for Control

People's lust for control has led to the rise of laws monarchs, government, and the bloodied reign of the nation-state. But The Taoists believe in the principle of Wu Wei, or "non-action," and following the natural order. According to an analysis report from, cryptocurrency is Taoist in nature and is the first manifestation of the Crypto-Taoist will. It is money without control or censorship if used wisely. It is money anyone can use, and it provides the impetus for a new kind of Taoist revolution that subverts control of value and decentralizes it once and for all. (RL)

3 months ago

The Co-Founder of LinkedIn Joins a U.S. Blockchain Company Monarch

According to PR Web, U.S. Blockchain company Monarch announced that co-founder and Chief Technology Officer (CTO) Eric Ly of LinkedIn will join its advisory committee. Eric is an ethnic Vietnamese Chinese, and he established the blockchain company Hub in 2017, which aims to make transactions easier among strangers on a blockchain platform. (RL)

3 months ago

Biggest Gainer: ChainLink (LINK) - $0.3026 - 30.16% Increase

With Bitcoin and other cryptocurrencies in a freefall for a couple of days, some cryptocurrencies have managed to make a comeback. Today's Biggest gainer was ChainLink, which went from $0.231 to $0.3026, gaining 30.16% in the last 24 hours. The 24-hour volume jumped from $1 Million to $3.2 Million, and 75% of it is in Binance against BTC and ETH. Other big gainers for today are Other big gainers for today are Metaverse (ETP) and MonaCoin (MONA) which gained 12.29% and 10.76%. (VS)

3 months ago Adds Litecoin (LTC) to its Monaco (MCO) Wallet App

Days after’s mobile wallet rebranded to Monaco (MCO) Wallet, the firm has announced the addition of Litecoin (LTC) to its platform. The cryptocurrency will be utilized as the base currency for transactions made on the wallet. Before rebranding, the wallet supported Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB) and its native Monaco token (MCO). While making the announcement, said the addition is aimed at enabling MCO users to transact using LTC and other tokens using the upcoming MCO Visa Card. The MCO Wallet App allows users to buy, sell, exchange and track their digital assets. (VK)

3 months ago

Law Firms Partner to Create Ethereum-Based Agreements Network

About eleven law firms and a blockchain and smart contract technology company Monax have collaborated to develop the Agreements Network, an Ethereum compatible services platform. Monax will be tasked with developing smart-contract based business solutions. The blockchain platform will streamline the operations of law firms by simplifying management of case tasks, documents, leases, and infringements. The platform is set to launch in October 2018. (VK)

4 months ago

Stellar, 0x and Monaco Lead The Crypto Market

After correcting for over three days, the Cryptocurrency market gained once again in the weekend going from $272 Billion to $282 Billion. Stellar, 0x and Monaco led the market rally. Stellar (XLM) recently received support from Coinbase and IBM. XLM has a market cap of 5.53 Billion and is priced at $0.295, gaining 7% in the last 24 hours. Other contributors were 0x and Monaco, which gained 7.66% and 6.53% in the last 24 hours. (VS)

4 months ago

TenX(PAY) Gains 50% In One Day Without Any Significant Announcement

TenX (PAY), a Singapore-based startup that is looking to bridge the physical world and Cryptocurrencies with a blockchain powered debit card saw its price increase by more than 50% in the last 24 hours. PAY went from $0.729 to $1.21 today, gaining 54%. According to CoinMarketCap, PAY was the top gainer across all cryptocurrencies. However, there was no news from the TenX team, indicating a Pump and Dump. So there is no guarantee that PAY would stay at the same level. Surprisingly, Monaco (MCO) another Crypto debit card startup saw significant gains today, gaining 16.71% in the last 24 hours. (VS)

4 months ago Unveils New Visa Card at Techcrunch

The Hong Kong-based, formerly called Monaco has announced an MCO Visa Card at Techcrunch. Kris Marszalek, the CEO of MCO, unveiled the Visa Card at Techcrunch conference in Zug, Switzerland. The Visa Card enables users to exchange their cryptocurrencies via Visa ATMs worldwide. (KE)

4 months ago

Monaco to Rebrand as, MCO Coin Advances Nearly 4%

Hong Kong-based Monaco (MCO) is rebranding in an attempt to bring cryptocurrencies to the mainstream. The blockchain project, which is behind a Visa payment card and wallet app, is changing its name to The product portfolio will now be known as MCO, which is also the token's symbol. Chief Kris Marszalek said in a blog post: " gives us a powerful new identity in line with our original vision to put cryptocurrency in every wallet. As the name we're taking on is also representative of the entire space, it comes with a huge responsibility to carry the torch." The crypto effect has driven the MCO coin higher by nearly 4%. (GT)

4 months ago

51% attack on monacoin

IMPORTANT NOTE 2018,05.21. ----------------------- Monacoin dev sent Lae an email, saying that his current advice for exchanges is to **increase confirmations to 100** for now, and that he doesn't have a concrete plan moving forward yet. Original post: ----------------------- Currently we are having an 51%+selfish mining+timestamp attack on monacoin reported by several people. Some exchanges (Bittrex, Livecoin) alreday disabled depositing Monacoin, ~~i suggest other exchanges to disable it as well temporarly.~~ **monacoin dev suggests to set confirmation time to 100 and everything can resume**. What is happening? ----------------------- -one of the mining community witholds the blocks -due to buggy diff retarget calculation the next block can be mined very easily -new blocks can be issued rapidly -result 1 = faulty confirmed payments into exchanges (hidden block with a hidden transaction to different address from earlyer and not to exchange + issuing block with payment to exchange and rapidly issued forged blocks relation to this block -> exchange detects proper number of confirmations, then they free up the real block as well, resulting the original forged blocks to be orphanged -> the new chain has no payment to the exchange, but the payment is alreday in the exchange database -> swapping to other coins and withdraw) -result 2 = and stealing the block reward from a lot of blocks The bug is the quite similar as Verge had a month ago. Increasing block age for deposits will not fix it, **but increasing the block confirmations actually secures you from the attack aniway**. Exchangers and online services should increase it above 100. (There is difference as in Verge the timestamp itself was faked - here a different algorithmic error plays role, which the developers must first find). The main issue (witholding the blocks) was discovered earlyer, but until now it was not a threat (now it became malicious due to this retarget bug - basically combining this 3 phenomon together). The attacker attempts to do the attack for half year with automated mechanisms, now he succeeded. You may continue using monacoin for buying and selling stuff, but wait a few hours before shipping the product. Western exchages (Livecoin) lost $90k usd due to attack. (The bug probably exists with almost all of the bitcoin clones as well - but you must be able to withold blocks to exploit it. ) Your personal Monacoin holdings are not in danger. The network and transactions - besides this - working as usual, you can continue using your wallet as you did before. This does NOT have any impact on you as a regular user. Disclaimer: 1. i am nobody, and i am not a core developer 2. i cant check the credibility of the informations i posted above 3. we are trying to reconstruct whats happening. the monacoin developers dont speak english, and we dont speak japanese 4. i am programmer, but i am not expert in crypto in any ways 5. i am not affiliated with monacoin project 6. meanwhile the title says 51% attack, its possible to achieve this attack around 40-45% hashrate as well (however lower the attackers percentage is, lower the chance of succesfully executing the attack) an example of suspicious activity on monacoin chain: Statistic data from **Ming**: Traversal of reorg chains data Mined blocks that are not in the main chain according to API (hash block_height address value): Diagram of chain reorg, now with the replaced chain. PDF version: Suspected attacker: MBTt4Z*********************Wsx Aftermath: ------------- 1. bittrex employee contacted me, and told me that they consider delisting the coin if they cant contact - i gave them contacts who might know how to contact the developer, and suggested them to do 300 block confirmations 2. the coins alreday scammed out from the legitimate owners canot be returned - the chain canot be modified backwards 3. another bitcoin clone called bitcoin gold got hit by a similar attack ( Details on similar attack for Bitcoin Gold. ) 4. monacoin dev suggest to set confirmation time to 100. no new actions will take place now. enjoy using the coin. 5. bitbank re-enabled their wallet 6. bittrex reope...

6 months ago

Monacoin Price Discussion (please post price discussions in here, other post will be deleted)

Too much spam about price up and down, let's consolidate it all into here. Thank you Reminder: Slack link for instant message chatting about monacoin

a year ago

Japanese biggest exchange added Mona

Hi guys. Japanese biggest exchange, BitFlyer added Mona coin in its list. I think that many people in the world other than Japan cannot access the information on it. It is a good time to share it with you. What makes Mona special in Japan? In my opinion, it is the community. Though it does not have a centralized headquarter, every developer and every people who believe in the possibility of the cryptocurrency have been promoting Monacoin since 2014. Sometimes, new futures or new services using Mona have been developed before others noticed. Sometimes, new items or comic books featuring Mona have been released by the fan. They are encouraging the real usage of the cryptocurrency. To be honest, I cannot follow all the activity, because it is too broad and decentralized, and I have not been able to contribute to the community so much, but I really proud of them and I would like to say congratulations to them now. Good luck!! *If I have the other news on Mona, I will share with you in English again....

a year ago

[Free Monacoin] Comment your Monacoin address and I will send 0.1 Monacoin to you

Your account must be older than this post or no mona for you. yay...

a year ago

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