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XRP Ledger Gateway, GateHub Hack Update: The Wait Continues for Stolen Fund Compensation

On Friday, July 19, European-based gateway for the XRP ledger, GateHub released a statement that shared the details regarding a hack that took place in June 2019 along with its ongoing investigation. As per the initial investigation, the hacker was able to access dozens of XRP Ledger wallets in which traders’ crypto assets were compromised. […]
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UK-based GateHub releases final investigation update; fails to address compensatory concerns

June saw major security breaches on two XRP trading platforms. While Bitrue’s final official statement stated that 100% of the stolen funds would be recovered, the same cannot be same for GateHub. GateHub’s hack accounted for 18,473 compromised accounts, of which 5,045 XRP Ledger wallets had active balances. In the initial statement, the UK-based service provider […] The post UK-based GateHub releases final investigation update; fails to address compensatory concerns appeared first on AMBCrypto.
AMBCrypto

XRP/GateHub: Hacker continues to prowl the market as part of stolen XRP transferred to Digifinex

XRP, the third largest cryptocurrency by market cap, was the highlight of the cryptocurrency space after a hacker stole a significant amount of coins from GateHub, a wallet that supports the top cryptocurrencies in the market. Nearly 23 million XRP were stolen from the platform via an attack by the hacker earlier this month. The service provider stated that this could have been the cause of “suspicious API calls” in its initial statement, adding that they did not find any loopholes on the platform that would have enabled the hacker in carrying out the attack. Further, in a recent Twitter post, GateHub also alerted its users about phishing emails, asking them to transfer their funds with the subject “Critical Security Warning/ Action Required – New Secured Wallets.” The platform advised users not to transfer their funds to the address mentioned in the phishing email. Keeping this aside, the hacker has been moving around the stolen funds to several exchange platforms. Earlier today, according to Whale Alert, the hacker moved 30,000 XRP equivalent to $13,055 to DigiFinex, an exchange platform headquartered in Singapore. The transfer was made from rDBneo78RVCfMdAbvPo4v2sf8uk3RKKe1b address to DigiFinex’s rnG2XVwdULE5mfWA5EFxnyTkUGgg2K39AP address at 09:05:41 UTC on June 17, 2019. Notably, this was not the only transaction made by the hacker to DigiFinex. On June 16, two transfers were made to DigiFinex at 17:01:51 UTC and 17:27:31 UTC from rfrnAC417ewiPbRqRzvJCgnBSgMJRMzSuv address. The XRPs that were transferred were worth $28,590 at the time of transfer. Apart from this, Whale Alert also recorded transactions made to different addresses yesterday. Source: Twitter DigiFinex was not the only exchange platform the stolen funds were transferred to. According to previous transactions recorded by Whale Alert, the hacker has sent some funds to Bitfinex and OkEx over the past few days. Another cryptocurrency exchange, ChangeNOW, recently released a statement surrounding the hack, stating that the attacker had sent some funds to their exchange platform as well. The exchange added that it was able to secure some of the stolen funds, which would be later sent back to GateHub. The post XRP/GateHub: Hacker continues to prowl the market as part of stolen XRP transferred to Digifinex appeared first on AMBCrypto.
AMBCrypto

GateHub: Stolen XRP funds transferred to prominent exchanges

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges. One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows: Source: Whale Alert Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details: Source: Whale Alert The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions. The post GateHub: Stolen XRP funds transferred to prominent exchanges appeared first on AMBCrypto.
AMBCrypto

GateHub Hack: Over $1 Million Worth Of Stolen XRP, Currently On The Move

The crypto space is an active sector. Numerous rich people have bought into it and invested vast proportions of their wealth in cryptocurrencies. However, there still remains one largely thorny issue plaguing the crypto world, and that’s the issue of security. While the industry has come a long way in terms of improving security measure to keep people’s money safe, some platforms like Gatehub have been reported to be still vulnerable. One Twitter user who happens to be a genuine crypto fan took it upon herself to warn people about Gatehub. In a tweet, Tiffany Hayden wondered why some people are still not listening to the numerous calls to transfer their holdings from Gatehub to more secure wallets. Remove your $XRP from Gatehub! Why are people not listening???! https://t.co/PY7o1i9Vsc — Tiffany Hayden (@haydentiff) June 14, 2019 A Million Dollars On The Move Tiffany was referring to a recent post by ‘Whale Alert’ that broke some gloomy news about a huge transfer of XRP coins that were allegedly stolen from Gatehub. The transfer in question to a cool 2,438,465 XRP estimated to be valued at almost $1 million. Don’t Import A Compromised Key On the brighter side, Tiffany did more than just post a warning. She went ahead to help a few of the people who wanted to learn how to effectively secure their XRP holdings. Responding to one user’s query on how to import their secret key, Tiffany advised not to continue using any compromised key. Instead, the crypto owner should re-key their account by deactivating the current key and generating another one. Granted, security issues within the crypto space have been a major concern especially when exchanges are targeted. However, more and better ways of ensuring security and good trading environment are being developed and fielded. The post GateHub Hack: Over $1 Million Worth Of Stolen XRP, Currently On The Move appeared first on ZyCrypto.
ZyCrypto

GateHub hack: XRP moved from ‘offending wallet’ as ChangeNOW talks of recovering funds

GateHub saw a hack earlier this month, where the service provider lost 23 million XRP worth approximately $9,221,827 million. However, large sums of XRP were moved from GateHub’s wallet to various other wallets from the stolen funds, on June 13. Whale Alert, a tracker of such large transactions, alerted the community after the first large transaction of 2,240,000 XRP took place from a wallet address identified as ‘Gatehub Hack 2019’ by Whale alert to another ‘Gatehub Hack 2019’ wallet address. The address of the sender was r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k, while the receiver’s address was rGWmuauNyRL5b8ByYTpLsfr9QW1HzTGArS. The transaction details of the transactions were as follows, Source: Whale Alert After investigating further, it was found that there were 8 other such transactions where almost 3,239,870 XRP were sent to various unknown wallets. However, it was found that the wallet address of the receiver in the first transaction carried out seven of these transactions where they sent 2,239,970 XRP to other wallets. The final, ninth transaction that took place on June 14 was carried out from a wallet address, r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k and recognized as one of GateHub’s wallets, while the receiver’s address was rphR3kQ7G8hf3MZoLGRBqhuijEyUSvpZM8. The hash rate for the transaction was 45A6F0457CDB9506E85BA83C05EE1240956D6640D2246D099E52AB07A35B8D31, and the transaction details were as follows, Source: Whale Alert However, a few days back, ChangeNOW, a non-custodial exchange through a blog post had mentioned the address of the offending account, r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k, the same address from where the last transaction of 999,900 XRP took place. The receiver of this sum also received 181,100 XRP from a suspicious account,  rMcqiWXMJEAEMXaFFgnjeuASwAMmef8B8c, ALSO marked by ChangeNOW. These transactions are a cause for concern as the non-custodial exchange had announced the recovery of almost 500,000 XRP. However, a few days later, these funds were transferred from the “offending wallet.” GateHub had previously warned its community of increased phishing activities. The post GateHub hack: XRP moved from ‘offending wallet’ as ChangeNOW talks of recovering funds appeared first on AMBCrypto.
AMBCrypto

Ripple Wallet GateHub Warns Users About Phishing Scam, 4.5 Million Stolen XRP On The Move

Just last week BitcoinExchangeGuide reported a story about Ripple wallet and gateway-as-a-service provider GateHub getting hacked. They were a victim of hacking that led to $10 Million worth of XRP getting stolen. The company did detail that they have GateHub recovered over 500,000 XRP currently worth around $200,000. The stolen funds were frozen on ChangeNow […]
Bitcoin Exchange Guide

GateHub Issues Update on $10 Million XRP Hack

GateHub has issued an update on the efforts to recover from the hack suffered earlier in June 2019. Hackers managed to steal about $10 million worth of XRP tokens from the cryptocurrency wallet platform. Apart from exchanges proper, bad actors continue to assail virtual currency custody providers in a bid to get a hold ofRead MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Gatehub Hack Update: ChangeNow Recovers 500,000 Stolen XRP

Cryptocurrency exchange ChangeNow has reportedly frozen 500,000 XRP out of the 23 million stolen from Gatehub.io during the wallet hack earlier this month. The funds were ceased when ChangeNow found out a number of black-listed addresses associated with the hack were trying to exchange the 500,000 XRP on its exchange platform. 2.5 million XRP sent to ChangeNow Gatehub, the cryptocurrency wallet platform was hacked with about 100 XRP Ledger wallets compromised, according to an official announcement from Gatehub. ChangeNow was part of the investigation into the matter and succeeded in blacklisting some of the addresses involved in the hack which were later found to be attempting to exchange 2.5 million of the stolen XRP on ChangeNow. The exchange couldn’t stop the entire amount of XRP being exchanged, but managed to stop 500,000 0f the 2.5 million XRP. ChangeNow is still actively working with Gatehub to resolve the situation as its contribution towards making the crypto space a safer place. The XRP was frozen on the 9 June, just 3 days after the announcement of the hack by Gatehub. The frozen funds are still in ChangeNow custody and they have pledged to return it to Gatehub. ChangeNow working to avert future occurrence ChangeNow certainly isn’t happy with the situation as a good chunk of the stolen funds were exchanged on the platform. The exchange has the vision to stop at least 90% of any stolen funds being exchanged through the platform by improving their risk management and creating a closer working relationship with the crypto community and relevant investigators to ensure a faster response in the case of a similar event in the future. The post Gatehub Hack Update: ChangeNow Recovers 500,000 Stolen XRP appeared first on Coingape.
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Stand Aside Libra, Binance’s ‘Venus’ is the New Sheriff in Town

Ever since Facebook unveiled its Libra cryptocurrency, the project has encountered regulators’ wrath across the world. However, governments, crypto exchanges, and institutions think that Libra is a great idea and they are now developing their local tokens to rival Libra. The People’s Bank of China is reported to be developing a token that will encroach the market that Facebook targets. The latest entrant into this race is Binance. This top crypto exchange announced that it will launch an open blockchain project dubbed ‘Venus’. The project aims to develop localized stablecoins throughout the world. In an official announcement published on August 19, the exchange said that it is perfectly positioned to launch such a currency ecosystem. The move comes in the wake of its existing public chain technology, Binance Chain. The public chain comprises of a wide user base and an already existing global compliance measures infrastructure. Leveraging Already Active Know-how Binance announced that it is looking for partnerships with corporations, governments, technology firms, and other blockchain and crypto projects. It aims to develop a new currency ecosystem that will empower the developed and developing nations. Furthermore, the exchange’s vision for its Venus project is to create a new open alliance and sustainable community. The community is meant to accept and enlist all partners who have influence globally. According to the announcement, Binance Chain already supports multiple native asset-pegged stablecoins. Some of the stablecoins that it runs include the Binance BGBP Stable Coin (BGBP) that is pegged to the British Pound and the Bitcoin (BTC)-pegged stablecoin (BTCB). Additionally, Binance says that it will leverage the existing infrastructure and experience with different regulatory regimes. That will enable it to set up a compliance risk control system and create a multi-dimensional cooperation network for the Venus project. Contending with Libra The new ambitious venture by Binance seems to compete directly with Facebook’s fiat-pegged stablecoin, Libra. Facebook’s wants to launch a system that will power a global cryptocurrency payments network integrated into the company’s wholly-owned apps that include Messenger, WhatsApp, and Instagram. The choice of this name ‘Venus’ seems to show that Binance is also entering the astrological waters. These waters feature the Winklevoss Twins’ Gemini dollar and Gemini exchange together with Facebook’s Libra project. Whether Venus will outmuscle Libra in the new global stablecoin space or not, only time will tell. Like what you're reading? Subscribe to our top stories The post Stand Aside Libra, Binance’s ‘Venus’ is the New Sheriff in Town appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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Binance Announces New Stablecoin Initiative Venus – the “One-belt-one-road Version of Libra”

The world’s largest cryptocurrency exchange Binance has announced the plan of launching an open blockchain project “Venus”, an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. As per the announcement published today Aug.19, the localized stablecoin initiative will leverage the exchange’s existing infrastructure such as its public chain Binance Chain and cross-border payment systems, wider user base and already established global compliance measures. Bearing a similar vision with social media giant Facebook’s Libra, “Venus”, defined as a “regional version of Libra”, aims to break down the financial hegemony and reshape the world’s financial system, which enables latecomers to have more initiative and stability in finance, as well as enhance the economic efficiency of countries. The exchange says it is seeking “partnerships with governments, corporations, technology companies, and other cryptocurrency companies and projects involved in the larger blockchain ecosystem, to empower developed and developing countries to spur new currencies.” “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy.” said He Yi, Binance co-founder and CMO. In its Chinese version of the announcement, the exchange believes that “Libras are growing at an exponential rate and will reshape the world financial system, bringing changes more than the Internet. Instead of resisting change and losing the opportunity, it is better to embrace the change. Under the planned economy system, the successful experience of Shenzhen’s bold exploration of market economy is a good case. At the same time, Libras need to be developed in an orderly manner under the regulatory framework.” In conclusion, it added three suggestions for the Chinese regulators – The central government should establish the core strategic position of blockchain industry and digital stablecoin in the future financial system; Establish a regulatory sandbox within a certain scope and pilot payment and settlement services based on digital stablecoin; Allow private enterprises to issue digital stablecoins and develop cross-border payment and settlement systems. Prior to it, Zhou Xiaochuan, the former governor of PBOC (People’s Bank of China), stated that Libra represents the trend of digital currencies, China should take precautions and undertake policy research. Following that, Huawei founder Ren Zhengfei  said that China can issue a Libra-like currency to take the lead in the blockchain sector. With these positive signals, the exchange is responsive and acting fast. Its cofounder He Yi said “Venus” is the “One-belt-one-road version of Libra”. Cofounder of Binance .@heyibinance said “Venus” is the “One-belt-one-road version of Libra” Totally nailed it pic.twitter.com/RqfaPH8zE1 — Dovey Wan 🦖 (@DoveyWan) August 19, 2019
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HyperCash, Metal, WePower and Bread Top All Cryptos; Coins as a Whole Up 1.66% Overall, 18 Coins Have Contracting Volatility

Yesterday’s Movers and Shakers Since yesterday, the coin that fared the best out of the 133 coins in our index was HyperCash, whose price is up 51.55%. Rounding out the top four currencies for the day were Metal, WePower, and Bread, which provided holders with returns of 17.75%, 13.98%, and 12.04% for the day. These moves were notable not only for their magnitude relative to other coins, but also because they were large and surprising relative to the volatility of each of these currencies over the past two weeks. Interested in trading these currencies? Some brokers to try: Gate, Yobit, Stex, Binance, DDEX, ETHfinex A Macro View of the Crypto Market Overall, the average change in coin price for the coins we’re tracking was up 1.6592%. On a more granular level, 65% of the coins we’re tracking were up while 35% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. Since yesterday, 3 have crossed their 20 day moving average; these coins may be of interest to traders who believe the 20 day moving average may be a key level that draws traders in. Interested in trading these currencies? Some brokers to try: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Currencies With Significant Price Moves The coins that crossed their moving average are: Chainlink, Verge, HyperCash. Likewise, volatility has continued to trend lower and contract for 18 of the 133 coins in our index; contracting volatility often precedes a breakout, so these coins may be gearing up for a larger move. The chart below drills down a bit more, featuring 4 currencies with contracting volatility that are trading below their moving average. Are these coins forming a bottom? Interested in trading these currencies? Some brokers to try: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Article by SixJupiter The post HyperCash, Metal, WePower and Bread Top All Cryptos; Coins as a Whole Up 1.66% Overall, 18 Coins Have Contracting Volatility appeared first on DecentralPost.
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The Latest Satoshi Nakamoto ‘Reveal’ Is Actually Quite Compelling

The origin story of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, has seen outright lies, conjecture, and its fair share of ‘reveals’. By now, for many, it has become irrelevant, and any new ‘revelation’ gains a healthy dose of cynicism. But here we are again, with a promise of an unveiling in little under 36 hours. Could it be different this time? I’m Satoshi Nakamoto, And So Is My Wife You could be forgiven for having a touch of Satoshi Nakamoto fatigue. In the past few months alone, we’ve endured multiple theories regarding an Estonian connection, a drug lord who invented Bitcoin purely to launder money, and a failed attempt at viral marketing (anybody actually use PAI news?). Not forgetting, of course, Craig Wright’s ongoing delusion in the face of mounting evidence of his serial forgery. So when a new website appears claiming that ‘all will be revealed’ in a three part series of posts… well you’ve got to expect it to be taken with a(n un)healthy pinch of salt. But that’s exactly what happened over the weekend. We even got to read the first part of the three-part reveal, and… it’s strangely compelling. Satoshi Nakamoto Renaissance Holdings The website bears the name ‘ Satoshi Nakamoto Renaissance Holdings’, and the ‘Truth’ is as told to Ivy McLemore, a PR and marketing consultant… and apparently a man. So far, so readily dismissible as another waste of time marketing ploy. The site even admits that part three of ‘My Reveal’, along with the Nakamoto’s true identity, will provide details about Tabula Rasa, Satoshi’s vision (sorry Craig) for the future of Bitcoin. But if this is just another attempt to cash-in on the Bitcoin bandwagon, then whoever is involved has done a better job than most of the others. Names, Numbers, And A Chip On His Shoulder The fact that ‘Satoshi Nakamoto’ has a beef against the banking industry will come as a shock to no-one. The fact that this beef harks back to the 1991 closure of the ‘World’s Sleaziest Bank’, BBCI might. Allegedly, part of his motivation was to redeem BCCI, even going so far as basing the name of Bitcoin on it; Bank of CredIT and COmmerce INternational. He also had trouble opening a bank account when visiting the UK. According to this latest ‘testimony’, Satoshi came from Satoshi Sumita, a Japanese Central Banker, who presided during a period when the country became the world’s largest creditor nation. Satoshi was also an exact match in Chaldean numerology (which also features greatly) for Nakamoto’s childhood nickname of ‘Shaikho’. Nakamoto came from Hal Finney, who helped him to create Bitcoin. Dorian Satoshi Nakamoto lived in the same California neighbourhood as Finney. He was later mistakenly identified as the Bitcoin creator by Newsweek. Satoshi Nakamoto is the number 55 in Chaldean numerology, representing the total and complete man. Finney also provided remote computers to work on, leading some to speculate that Nakamoto had been based in California. He had actually started his work in Pakistan, later travelling between Pakistan and the UK. ‘Nakamoto’ describes Finney as his Steve Wozniak, the technical genius who partnered Steve Jobs at Apple. The Best Is Yet To Come So part one of ‘My Reveal’ is detailed, fits some of what we already know about Nakamoto, and explains some of the things that we didn’t know. And the best bit is that we don’t have to wait too long for parts two and three. Part two, available at 4pm EST today, will reveal more about how Nakamoto’s belief in Chaldean numerology influenced many of his decisions regarding the development of Bitcoin. It will also give all the facts about his 980,000 BTC personal stash. Then part three will be published just 24 hours later. Will we finally learn Satoshi Nakamoto’s real-life identity, and his vision for the future of Bitcoin? Craig Wright must be quaking in his loafers… or sitting smug in the knowledge that this is just a ploy, and he is the real… nah, just kidding, quaking in his loafers. Do you think this time Satoshi Nakamoto will finally reveal his/herself? Let us know your thoughts in the comment section below! Images via Shutterstock The post The Latest Satoshi Nakamoto ‘Reveal’ Is Actually Quite Compelling appeared first on Bitcoinist.com.
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