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0X Exchange shuts down v2.0 contracts due to potential exploit; deployed patched versions

0x, an open protocol that enabled the peer-to-peer exchange of assets on the Ethereum blockchain, shut down their v2 Exchange due to a flaw in its Exchange contract which was identified by a third-party security researcher Sam Sun. According to the CEO and co-founder of 0X Will Warren: “This vulnerability would allow an attacker to […] The post 0X Exchange shuts down v2.0 contracts due to potential exploit; deployed patched versions appeared first on AMBCrypto.
AMBCrypto

0x Exchange v2.0 contract shut down and migrated due to potential exploit

The 0x project disclosed a potential exploit in its Exchange contract that was discovered by 3rd party security researcher Sam Sun. The Exchange contract contains most of the business logic within the 0x protocol, including filling and cancelling orders, executing transactions, validating signatures and registering new contracts in the system. According to CEO and co-founder of 0x Will Warren in a note to , "This vulnerability would allow an attacker to fill certain orders with invalid signatures. This vulnerability does not effect the ZRX token contract; your digital assets are safe." However, as a precaution, 0x shut down the Exchange contract and Asset Proxy contracts responsible for performing asset transfers on the 0x protocol. The 0x team deployed patched Exchange and Asset Proxy contracts overnight and instructed teams working with the 0x protocol to point to these new contracts and also clear their orderbooks of outstanding orders. Users are instructed to reset allowances for the new 0x Asset Proxy contracts. Warren indicated that the 0x team will issue a post-mortem once it is certain that no other smart contracts are at risk due to the discovered exploit. He also thanked Sam Sun for discovering the bug, pointing out that 0x offers generous bug bounties to white hat hackers and community members who discover potential vulnerabilities. Warren promised a community dialogue in the next few days after "serious reflection" to ensure 0x protocol smart contract security practices are "transparent, rigorous and community-vetted."    
The Block Crypto

Prediction markets platform Veil shutting down after just 6 months

Veil, a peer-to-peer prediction markets and derivatives platform built on top of Augur, 0x and Ethereum, is shutting down just six months after its launch. Paul Fletcher-Hill, Veil co-founder and CEO, announced the news on Friday in a Medium blog post, stating that no new markets will be added to the platform. Users can trade in existing markets until July 24, and after that, it will continue to host the Veil product at least until Augur v2 launches. Veil was designed to make Augur’s platform accessible to the mainstream audience, which enables users to create and trade prediction markets on a variety of topics from sports, to elections, to crypto prices. Giving the reasons for the failure, Fletcher-Hill said, Veil “didn’t offer a good onboarding experience,” and that it wasn’t “decentralized or regulated,” among other issues. The CEO has, therefore, recommended Veil users to redeem all their open positions in expired markets and withdraw any positions in active markets, as well as to withdraw their Veil ether and convert it to ether. The Veil team and company, however, will continue to work on “higher impact products and services,” Fletcher-Hill said, adding that Predictions.Global explorer, which Veil acquired earlier this year, will also continue.
The Block Crypto

Fidelity, Amazon and Deloitte Supporting New Blockchain Accelerator

Coinspeaker Fidelity, Amazon and Deloitte Supporting New Blockchain AcceleratorA subsidiary of design firm IDEO, IDEO CoLab, announced a partnership with 20 blue chip and crypto companies in order to launch a blockchain accelerator called Startup Studio. Partners include Amazon, Deloitte, and Fidelity, as well as crypto data firm Messari, the Ethereum Foundation, the Stellar Foundation, among others, to build on the distributed web incubator that IDEO CoLab launched in February.The program is allegedly supposed to help blockchain startups with product design, user testing, hiring, finance, law, and engineering, through one-day workshops.Ian Lee, managing director of IDEO CoLab Ventures set as an example Amazon who will provide resources on how to build and deploy services on top of its Amazon Web Service (AWS) infrastructure. On the other hand, Lee added, Deloitte will offer workshops on the journey and lifecycle for blockchain firms from an accounting, tax, and structuring perspective. Fidelity’s center for applied technology will help them explore, accelerate, test, as well as partner on “compelling new opportunities” in the financial services space, Lee said.He noted that each partner will take “active” roles and share the costs for running these workshops and IDEO CoLab said it is expecting more firms to join in the future.Lee said that participating startups can choose to go to a specific workshop at “no cost”:“Some startups, including decentralized exchange protocol 0x, crypto lender Dharma and crypto derivatives exchange dYdX have already attended the program. We’ve helped them validate/invalidate new product concepts, design product UX/UI, and find their first launch customers.”In February 2019, IDEO CoLab introduced its “Distributed Web Investing Program,” announcing six investments in blockchain startups. Lee added:“Over the last four decades, IDEO has pioneered the field of human-centered design to help create iconic products in partnership with leading companies like Apple, Google, Nike, and Ford. We believe that the blockchain industry has now reached the point where human-centered design and collaboration are needed to realize its full potential and make the leap from millions of enthusiasts to billions of everyday users.”One of the members of an initial partner organization is TQ Tezos. From this company, they said that they were selected as one of the Layer 1 protocols for the brand new Startup Studio program. They said:“TQ Tezos will help blockchain startups and entrepreneurs participating in the Startup Studio program, serving as a resource for projects built on the Tezos blockchain. Working with a global leader like IDEO is a great opportunity to put Tezos in the hands of some of the brightest minds across multiple industries.”For the past few months, IDEA CoLab has been running Startup Studio programs with leading blockchain entrepreneurs and startups including 0x, Alto, Braintrust, Compound, Dharma, dYdX, Fairmint, UMA, and others. The program has helped validate/invalidate new product concepts, design product UX/UI, and find their first launch customers.Be it as it may, blockchain entrepreneurs and startups are now enabled to apply in order to participate in specific acceleration programs through Startup Studio’s website.Fidelity, Amazon and Deloitte Supporting New Blockchain Accelerator
Coinspeaker

Fidelity, Deloitte, Amazon support new blockchain accelerator

Fidelity, Deloitte, Amazon, and 20 other firms are backing a new blockchain accelerator program to mentor budding entrepreneurs in the space. The program, dubbed "Startup Studio," is set up by major design firm IDEO's venture arm, IDEO CoLab, and aims to help blockchain startups with product design, user testing, hiring, finance, law and engineering, through one-day workshops. Amazon, for instance, will provide resources on how to build and deploy services on top of its Amazon Web Service (AWS) infrastructure, Ian Lee, managing director of IDEO CoLab Ventures told The Block. Deloitte, on the other hand, will offer workshops on the journey and lifecycle for blockchain firms from an accounting, tax, and structuring perspective, while Fidelity's center for applied technology will help them explore, accelerate, test, as well as partner on "compelling new opportunities" in the financial services space, Lee said. Each partner will take "active" roles and share the costs for running these workshops, including IDEO CoLab, said Lee. Ethereum Foundation, Stellar Foundation, Coinbase-backed NEAR Protocol and Messari are some of the program's other partners, and IDEO CoLab said it is expecting more firms to join in the future. Participating startups can choose to go to a specific workshop at "no cost," Lee said. Some startups, including decentralized exchange protocol 0x, crypto lender Dharma and crypto derivatives exchange dYdX have already attended the program, IDEO CoLab said, adding: "We've helped them validate/invalidate new product concepts, design product UX/UI, and find their first launch customers." IDEO CoLab has been active in the blockchain space since as early as 2015, and has recently worked with Augur, a decentralized platform for creating predictions markets, as well as privacy-centric cryptocurrency startups Zcash and Grin, among others.  Back in February, IDEO CoLab also invested in six blockchain startups, including Messari. Lee told The Block that its current portfolio includes nine companies and that the firm will invest in around 12 blockchain startups a year. The firm believes that the blockchain industry has now reached the point where "human-centered design and collaboration are needed to realize its full potential" and mass adoption.
The Block Crypto

BrewDog Extends Its Crypto Investment Opportunity “Equity for Punks”

The Scottish craft beer company BrewDog has announced it will be extending its groundbreaking cryptocurrency investment program “Equity for Punks” until April next year. The program, which was originally intended to end on July 5 this year, allows investors to buy BrewDog shares using a variety of cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), OmiseGo (OMG), QTUM, 0x, and Bitcoin SV (BSV). BrewDog is a multinational brewery and pub owner founded in 2007 with pubs in over 50 locations throughout the United Kingdom and 24 locations internationally. ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
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Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

• The short-term and medium-term outlook is in a downtrend. • Selling opportunities at the broken demand area may be considered. ZIL/USD Medium-term Trend: Bearish Supply zone: $0.02500, $0.02600, $0.027000 Demand zone: $0.01000, $0.00500, $0.00300 ZILUSD is in a downtrend in the medium-term. The bears' strong pressure broke the lower demand area of the rant […]
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Royal Mint In UK Enters Crypto Realm Offering Custodial Services for Temtum (TEM) Cryptocurrency

The Royal Mint in the UK, a 1,100 financial institution tasked with minting coins for the United Kingdom announced their plans to become a cryptocurrency custodian in the coming days. This becomes the first time the financial institution is entering into the cryptocurrency world following previous unsuccessful attempts. The Royal Mint released an official press […]
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