Cyber-criminals are not as anonymous as they think — Weekly digest, June 25-29 ’18

All in this week’s news digest: Bitpico threatens BCH, Jack Ma calls Bitcoin a bubble, Bithumb recovers half of the stolen funds, ERC-721 will be officially confirmed, Coinbase CEO creates a crypto charity fund, Node Capital opens a US branch, Azul app will help Venezuela, Facebook reverses ban on crypto ads, new EOS constitution & other news.

  • A new market research shows that 69% of all crypto trading volume belongs to 6 currencies. These currencies are BTC, ETH, XRP, BCH, LTC and USDT. Most coins, traded at the market, are very illiquid, half of them barely hitting 10,000 in trading volume.
  • An unknown person threatens he will bring down and fork Bitcoin Cash. A person from Twitter, who calls himself Bitpico, claims he will continue to attack BCH network with spamming attacks and will overtake it. Nobody takes him seriously, as he has already made similar claims regarding SegWit2x, and it seems that he can’t back up his words.
  • Alibaba Group founder Jack Ma calls Bitcoin a bubble again. At the same time, he believes that technology itself is useful and even may help revolutionize many industries. His company, Alipay, is currently working on their own blockchain direct payments system.
  • The number of transactions in DOGE is three times higher than those of BCH. Despite BCH claiming to be a transactional currency, actually it's being used far less than Bitcoin or even DOGE, being more like a store of value, than an actual cryptocurrency for merchants use.
  • Bithumb claimed it was able to recover almost half of the funds stolen during the hack. It was possible thanks to cooperation from other exchanges that returned the stolen funds to their appropriate owners. The funds stored in hot wallets were moved to a cold storage pretty fast, thus the overall damage was reduced by $13 million.
  • A secret Bitcoin key, a remnant of Satoshi’s architecture, is going to be revealed to the community. It was being used long ago for broadcasting messages to the network. It was gotten rid of in 2016, with a new patch, so nobody could use it with malicious intentions. Now it will be disclosed soon to evade reputation attacks against its holders.
  • ERC-721 standard is going through a finalization process to be recognized as an officially confirmed Ethereum standard. ERC-721 is widely known as a collectible token, but its use isn’t limited to simple games. This type of tokens can represent any physical or digital assets, thus making it useful in nearly all kinds of fields, according to its creators.
  • Coinbase CEO Brian Armstrong announced the creation of a crypto charity platform. This platform allows donating crypto, namely, BTC, BCH, ETH, LTC, XRP and Zcash to those who are in need. All money will go directly to people in poor countries, eliminating the need for a middle man.
  • Swiss Bankers Association held a meeting to ensure the facilitation of opening bank accounts for blockchain companies in Switzerland. The lack of regulations and the uncertainty of laws are the cause why Swiss banks evade dealing with blockchain companies. Now thanks to efforts of Heinz Tannler of Zug, it will become easier, attracting more companies to Switzerland.
  • A big venture company, Node Capital, is opening a US branch. It's ready to invest 200,000 Ethers in blockchain startups from the Silicon Valley. Node Capital is pretty big in China, its founder Du Jun co-founded the Huobi exchange in 2013.
  • A group of enthusiasts, led by Jonathan Wheeler, is developing an application, called Azul, that could make the lives of the people of Venezuela a little bit easier. They want to airdrop millions of dollars in Bitcoins to Venezuelan citizens via that app. That app will be using Lightning Network to reduce transactional fees. The team has plans to partner with the Human Rights Foundation and the United Nations. They refused to conduct an ICO and are looking for venture investors now.
  • Facebook partially lifts its ban on cryptocurrencies. Now it will be possible to run ads for services related to crypto, for example, crypto exchanges. Now advertisers will have to complete a sophisticated verification process to be approved to run adsHowever, ICOs and binary options are still banned.
  • Yoshitaka Kitao, CEO of SBI Holdings, the leading Japanese financial group, declared that XRP will be the global standard. SBI holdings has a partnership with Ripple, soon they will list Ripple and some other cryptocurrencies on their platform and will launch their own crypto exchange.
  • In a recent interview, Neil Walsh, head of UN cybercrime department, explained that in his opinion, blockchain technology isn't bad, and it’s counterproductive to fight it. He called the technology beneficial and necessary and said it's better to fight criminals who violate the law. He made a remark that those criminals, who consider themselves anonymous, will be tracked down eventually and brought to justice.
  • A few weeks after EOS mainnet launch Dan Larimer proposes to completely change its constitution, changing the governance model and switching to the common 'code-is-law' paradigm. This change will also remove Article XV, a controversial rule about losing an address in EOS and everything associated with it after 3 years of inactivity in network. However, this new variant of constitution contradicts all previous statements by EOS developers about blockchain governance.
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