tZero news

A financial technology company which owns, develops, and operates a suite of fintech solutions for capital markets.

World latest news

News: NASA using blockchain / tZero issues security tokens

NASA announces that they are using blockchain to track air management. tZero issues security tokens to those willing to use a broker or go through double KYC processes. Articles: https://cointelegraph.com/news/vinny-lingham-forecasts-bitcoin-price-for-two-months-trading-between-3-000-and-5-000 https://cointelegraph.com/news/nasa-publishes-proposal-for-air-traffic-management-blockchain-based-on-hyperledger https://ethereumworldnews.com/blockfolio-downsizing-the-latest-victim-of-crypto-winter/ https://cointelegraph.com/news/mining-giant-bitmain-reportedly-suspends-mining-operations-in-texas 👍🏻Subscribe to Boxmining for Daily CryptoNews and Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/Boxdatamining Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
Boxmining

tZERO Completes Distribution of Security Token

Token IssuanceIn a recent press release, tZERO has announced that it has finished distributing their native token. This token goes by ‘TZROP’, and is known as a digital security – representing ownership in tZERO itself.While tZERO finished the token creation process months ago, per regulations, it was mandated that they remain in lock-up for a 90-day period. During this time, tokens were to be held by a third party custodial service.  Finally, this 90-day lockup came to an end on January 10th, resulting in the aforementioned distribution and press release.Successful STOThis issuance process comes months after tZERO completed a wildly successful security token offering, or ‘STO’.  For example, taking place over a roughly 2 month span in mid-2018, tZERO was able to raise $134 million USD.  In addition, this raise was made possible through investments seen from over 1000 parties worldwide.Commentary on the IssuanceMultiple representatives from tZERO spoke on the importance of this token issuance.tZERO Executive Chairman, Patrick Byrne, stated, “The issuance of the world’s first public cryptosecurity, OSTKP, in 2016 was tZERO’s Chuck Yeager moment: we broke the speed of sound by introducing the concept of real-time trade settlement. Today marks our Yuri Gagarin moment, where we leave behind the confines of the known world of traditional capital markets and take the first steps towards a new market powered by blockchain.”tZERO CEO, Saum Noursalehi, stated, “This is one of the first Security Token Offerings on a decentralized public network, and was conducted in full compliance with the U.S. securities laws…This is an exciting milestone for tZERO, and we are even more enthusiastic about the opportunities this will create for private and public companies wishing to raise capital through security token offerings, and for investors who wish to trade those securities.”Next Up?The next step to be taken by tZERO, and the most anticipated by investors, will be the launch of a trading platform. The company originally launched a prototype of this platform on April 9th of 2018.  However, it is anticipated that a full launch will occur midway through 2019.The launch of this platform will facilitate trading via secondary markets.  Thereby, imbuing new levels of liquidity to previously illiquid assets.Recent NewsWe have recently reported on progress being made by tZERO. For instance, here are a look at a few noteworthy events from recent days.tZERO is rounding into Form, After Being Awarded a Recent PatentGSR Capital turns to tZERO for the tokenization of ‘Cobalt’tZEROtZERO is based out of New York, and is a subsidiary of Overstock.com. Each are products of Patrick Byrne’s, who has recently noted that he will be increasing his focus on the development of tZERO.  Above all, this subsidiary acts as a platform to facilitate various services aimed towards security tokens.The post tZERO Completes Distribution of Security Token appeared first on Securities.io.
Securities.io

Overstock.com’s tZERO Completes Issuing its Security Tokens To Investors

tZERO is a part of Overstock.com’s blockchain subsidiary of Medici Ventures. Founded in 2014, tZERO has the ultimate goal of revolutionizing traditional Wall Street operations using blockchain technology. To create the tZERO platform, a securities token offering (STO) was carried out from December 2017 to August 2018. A total of $134 Million was raised from the STO that had over 1,000 global investors. Security Tokens Issued to Investors It is with this background that the team at tZERO announced that they have completed the issuance of the tZERO security tokens. These tokens were issued to investors who had fully executed Simple Agreements for Future Equity (SAFEs). tZERO’s CEO, Saum Noursalehi, explained that the STO was carried out on a decentralized public network and in full compliance of the securities laws in the United States. He also encouraged other companies to raise capital through STOs. This is an exciting milestone for tZERO, and we are even more enthusiastic about the opportunities this will create for private and public companies wishing to raise capital through security token offerings, and for investors who wish to trade those securities. 90 Day Waiting Period for Investors The aforementioned tZERO security tokens were first issued to a custodial wallet on behalf of investors on October 12th last year. The toekns were then locked up for 90 days to ensure all federal securities laws and regulations were followed. This waiting period was also in line with the terms and conditions of the token sale. The 90 day period expired on the 10th of January, 2019. Owners of the tokens will be able to trade them on tZERO’s trading platform that is currently in development with a broker-dealer partner. Accredited investors will also be able to open accounts to buy tokens following the expired 90 day period. tZERO Trading Platform Patrick M. Byrne, tZERO Executive chairman, CEO and founder of Overstock.com, noted that this was a milestone to remember for it was the first steps towards a new market powered by blockchain technology. The new tZERO trading platform has been scheduled for launch on the 6th of August this year and exactly one year after the STO was completed. The team at tZERO further explains how the platform will work: tZERO’s blockchain technologies aim to revolutionize capital markets and address some of the inherent inefficiencies of Wall Street so that financial processes and investors are less beholden to traditional, institutional market structures. What are your thoughts on the tZERO securities token offering and its plans of a trading platform that will revolutionize Wall Street? Please let us know in the comment section below.  The post Overstock.com’s tZERO Completes Issuing its Security Tokens To Investors appeared first on Ethereum World News.
Ethereum World News

tZERO is Rounding into Form, After Being Awarded a Recent Patent

Patent RaceIn a positive development for tZERO, they were just awarded the patent for a new means of ‘Crypto Integration’.This patent described a process in which traditional trading systems are able to interface with developing cryptocurrency exchanges.  The following is an excerpt from the application, describing usage of the platform.“The Crypto Integration Platform provides, among other things, an interface between legacy trading systems and crypto exchanges that trade digital transactional items. In doing so, the Crypto Integration Platform takes a protocol for trading and communication between broker-dealers, Alternative Trading Systems (“ATS”), and exchanges, and transforms the message so that the trade can be consummated using cryptographic techniques.”*For those interested in a complete read-through of the filed patent, the document is available via the USPTO website here*Recent Dealings with tZEROBeyond the news of awarded patents, tZERO has been the subject of our discussions various times in recent months. For instance, here are a few of those articles, showcasing advancements being made by tZERO.GSR Capital to use tZERO for tokenization of ColbalttZERO signs on as founding member of the ‘Millbrook Accord’Patrick Byrne indicates his intention to increase focus on the development of tZEROIt is clear to see that the team behind tZERO has been as active as can be. Through moves such as the ones described above, they have been able to establish themselves as one of the most promising companies within the digital securities sector. Hopefully they are able to deliver on all fronts as 2019 rolls on.tZEROtZERO is based out of New York, and is a subsidiary of Overstock.com. Each are products of founder Patrick Byrne.Above all, tZERO will function as a platform geared towards providing various services aimed towards security tokens. The expected 2019 launch of their platform is much anticipated.To this day, Patrick Byrne has stayed steadfast in his belief that tZERO has the potential to become a giant. He has stated in past interviews, “I don’t care whether tZERO is losing $2 million a month…We think we’ve got cold fusion on the blockchain side.”In other newsFor those interested in patent news related to digital securities, make sure to check out our articles about IPWe. Not only do we give details on IPWe, in ‘patents powered by blockchain’, but we sat down with their CEO for an exclusive interview.Perhaps, future patent filings by tZERO will be able to benefit from changes made through the implementation of IPWe.With the blockchain industry rapidly developing, there has been no shortage of patent filings through the last two years.  In addition, the companies putting for application, have done so for a variety of services.A few noteworthy filings were detailed on icodesk.io here.The post tZERO is Rounding into Form, After Being Awarded a Recent Patent appeared first on Securities.io.
Securities.io

Overstock’s Portfolio Company tZERO Starts Distributing Its Security Token To Investors

Portfolio Company tZERO Starts Distributing Its Security Token tZERO, the portfolio company and security trading platform, has started to distribute its security tokens after a sale that ended back in August 2018. tZERO is the portfolio branch of Overstock. Saum Noursalehi, the CEO of tZERO wrote a letter to investors explaining the steps taken by the company to protect tZERO tokens and how the custody process will be. Back in August, the company gathered $134 million and in October it finished the issuance of these tokens. The tokens were held in a custodial wallet until January 10, 2019. According to Noursalehi, users will now to decide how they want to hold and store their tokens. The company held the funds on behalf of its customers for a long period of time. Noursalehi explained about this: “As you are aware, on October 12, 2018 we completed the issuance of the tZERO security tokens. The tokens have been locked up in wallets maintained by tZERO on behalf of our token holders for 90 days following the issuance. Now that the three-month lock-up has concluded, you must decide where to hold your security tokens.” Users will now have to decide whether to create a brokerage account with Dinosaur Financial Group or hold the tokens in a personal wallet. The Dinosaur Financial Group is a broker-dealer and partner of tZERO. Additionally, users that decided to hold their digital tokens in their personal wallet and would like to move their tokens into a digital securities brokerage account with Dinosaur will be able to do it. Nevertheless, it is not clear when tZERO is going to start trading the security token on its platform. Indeed, the company informed that they will be releasing another update on the matter. According to previous comments made by Jonathan Johnson, which is responsible for the blockchain operations both at Overstock and tZERO, the security token platform will go live as soon as January.
Bitcoin Exchange Guide

Overstock’s tZERO Starts Giving Investors Control Over Its Security Tokens

CoinSpeaker Overstock’s tZERO Starts Giving Investors Control Over Its Security Tokens Last August, Overstock’s subsidiary announced that its security token offering would close, having raised $134 million out of the maximum amount of $250 million previously specified. In June 2018, tZero had also signed a letter of with investment company GSR Capital for the purchase of $160 million in tZero Security Tokens. The ICO of tZero opened in December 2017 and raised $100 million in the first day of funding. Patrick Byrne, tZero executive chairman and CEO of Overstock then confirmed that tZero is planning to use the money raised to help launch multiple tokenized securities exchanges around the world in parallel with its SEC-licensed U.S. operation. “Ultimately, the nature of these tokens, they can be cross-listed across exchanges in every jurisdiction,” Byrne said. “And that’s really the vision on a global scale.” “The issuance of the world’s first public cryptosecurity, OSTKP, in 2016 was tZERO’s Chuck Yeager moment: we broke the speed of sound by introducing the concept of real-time trade settlement. Today marks our Yuri Gagarin moment, where we leave behind the confines of the known world of traditional capital markets and take the first steps towards a new market powered by blockchain.” According to tZero CEO Saum Noursalehi’s letter, investors now have the option of choosing where to hold their security tokens, either by creating a brokerage account with Dinosaur Financial Group, a tZero partner and broker dealer, or holding them in a person wallet with a two-step verification system. He confirmed that as of October 12, 2018 they completed the issuance of the tZero security tokens. The tokens have been locked up in wallets maintained by tZero on behalf of our token holders for 90 days following the issuance. “Now that the three-month lock-up period has concluded, you must decide where to hold your security tokens. This is one of the first Security Token Offerings on a decentralized public network, and was conducted in full compliance with the U.S. securities laws. This is an exciting milestone for tZERO, and we are even more enthusiastic about the opportunities this will create for private and public companies wishing to raise capital through security token offerings, and for investors who wish to trade those securities.” Anticipated Start of Actual Trading Still Not Announced So far, the company has not announced when it intends to start trading their security token. In the letter tZERO recommends that investors should wait for another update as to when the trading is to begin. In an interview last year, the president of Medici Ventures company that is in charge of the Overstock’s strategy in the blockchain field, Jonathan Johnson, mentioned that tZERO will begin operating in January 2019. A prototype of it was unveiled last April. To ensure compliance with federal securities law and regulations, and in accordance with the terms of the tokens themselves, the tokens will be locked up in the custodial wallet until January 10, 2019 (90 days after issuance). After the 90-day period expires, tZERO intends on offering holders the opportunity to trade tokens, pursuant to private resale transactions, with other accredited investors on a platform that tZERO is in the process of developing with a broker-dealer partner. In addition, tZERO intends that new investors who are accredited will also be able to open an account to buy tokens following the 90-day period. tZERO also plans to designate an approved trading platform by August 6, 2019, one year after consummation of the STO, so holders may then resell their tokens to non-accredited investors. tZERO also plans to register the securities to enable secondary trading in more robust trading environments, such as the domestic (USA) exchange it is building in partnership with BOX Digital Markets, as well as international securities exchanges. In April last year, the company has delayed the launch of the final version of the trading platform until May as it is still developing further regulatory compliance. tZero is a fully-owned subsidiary of Overstock that focuses on fintech development using the blockchain technology. Since its launch, the company has been committed to bring greater efficiency and transparency to capital markets with the use of the blockchain technology. * We’ve created most comprehensive guide, which will help you figure out what STO is, how it works, and what’s hidden behind this industry’s disrupter. Check out and enjoy!  Overstock’s tZERO Starts Giving Investors Control Over Its Security Tokens
Coinspeaker

Yet Another xRapid Partner, tZero Launch, TRON /SEC & Binance Bitcoin, BCH, Litecoin Wallet

Protect And Store Your Crypto With A Ledger Nano: https://www.ledger.com?r=8af3ed38d3b7 ---------------------------------------------------------------------------- Open An Account With Binance! https://www.binance.com/?ref=22170588 ----------------------------------------------------------------------------- Mine Bitcoin On Your Computer For Free: https://honeyminer.com/referred/58xpg ------------------------------------------------------------------------------ Bitcoin Donations Address: 1BYhrLpntMYW97sd8K6fquTcr5MYwPAe2y Ripple (XRP) Donation Address: rLDZeEw8nmsDjLQtACp53Bm9QDcB5bT3S6 Ethereum Donation Address: 0x0e5f5CEFaA9A0713AB6D8F79E6679E22d86C21f6 Litecoin Donation Address: Lh7dbMcXHTxaEAKg4tigKxoXCikceU4ZnM KIN Donation Address: 0x0e5f5CEFaA9A0713AB6D8F79E6679E22d86C21f6 OmiseGo Donation Address: 0x0e5f5CEFaA9A0713AB6D8F79E6679E22d86C21f6 -------------------------------------------------------------------------------- Follow Me On Facebook ! https://www.facebook.com/TheModernInvestor https://www.youtube.com/channel/UC-5HLi3buMzdxjdTdic3Aig --------------------------------------------------------------------------------- Photo Credit To: https://images.cointelegraph.com/images/740_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wYzA1MDVmNWVjMDUwNjQ2NTQ2YjFlY2UxMDE1NGNkMy5qcGc=.jpg
The Modern Investor

The Daily: Binance Adds Stablecoin Pairs, Tzero Patents Integration Platform

Cryptocurrency exchange Binance is opening trading for three stablecoin pairs. Also in Tuesday’s Daily, Overstock’s Tzero has patented a solution to integrate traditional and cryptocurrency trading systems, Morgan Creek founder Jason Williams offers his Lamborghini for bitcoin, and in Brazil, crypto investors are looking to buy vaults to safely store their digital assets. Also read: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in London Binance Launches Trading for Three Stablecoin Pairs Binance, currently the largest crypto exchange by daily trading volume, has announced it’s adding new trading pairs that will allow users to trade stablecoins against one other. Starting from Tuesday, Jan. 8, the following pairs will be available to traders: PAX/TUSD, USDC/TUSD and USDC/PAX. In November, the digital asset trading platform rebranded its USDT market as a combined stablecoin market, introducing the symbol USDⓈ. The exchange explained this was done to support more trading pairs with different stablecoins offered as a base pair. Later Binance added to the new market pairs with the stablecoins paxos standard (PAX) and USD coin (USDC). Last year saw the arrival of several stablecoins that are now competing with the dollar-pegged tether (USDT). These include the two tokens that were approved by the New York State Department of Financial Services in September, gemini dollar (GUSD), and paxos standard (PAX), also backed one-to-one with U.S. fiat currency. Tzero to Integrate Traditional Trading Systems and Crypto Exchanges Security token trading platform Tzero, a subsidiary of Overstock, has secured a patent for a platform that allows integration between traditional trading systems and digital asset exchanges. Tzero’s Crypto Integration Platform is designed to serve as an interface between the two types of systems. According to the filing, the platform can host initial public offerings (IPOs) and offerings of securities registered with the U.S. Securities and Exchange Commission (SEC). It is also intended to be used to trade these securities in secondary market transactions. The “digital transactional items” mentioned in the patent represent tokens, securities, digital assets, digital shares, and cash equivalents. When receiving an order, the platform is expected to verify the availability and determine the best market price of the digital asset before a transaction is made. Online retail giant Overstock is a crypto-friendly company. Recently it announced it will cover part of its tax obligations to the U.S. state of Ohio using bitcoin. Ohio’s new payment portal, which was launched a couple of months ago, allows businesses to pay their taxes with bitcoin core (BTC) and bitcoin cash (BCH) via Bitpay. Morgan Creek Founder Wants Crypto for His Lambo Jason Williams, co-founder of Morgan Creek Digital Assets, recently tweeted that he is about “to do something that has never been done in crypto.” According to the post, Williams’s Lamborghini is up for sale and the owner wants to buy cryptocurrency with the money he gets for the car. “Offers in BTC accepted,” the entrepreneur noted as well. Williams has received a lot of comments and even offers for the Lambo. According to Monero’s lead developer Riccardo Spagni, the sale is a good move. “Huracans are awful investments. Unless it’s a Performante, then there’s a limited audience in the future. But seriously, better to get rid of it,” Spagni wrote. “Too many cars. Not enough BTC honestly,” Jason Williams said in response. Brazilians on the Lookout for Vaults to Store Bitcoin Safe storage should be a priority for any investor in possession of large amounts of digital cash. According to the local press, many Brazilians don’t feel that hard wallets and secure passwords provide enough protection. Local companies manufacturing and building physical vaults have registered a growing demand for their services from cryptocurrency owners, which has actually revived the industry. The Folha de São Paulo news outlet recently reported that some of the safes are part of quite sophisticated security systems. They are often installed behind reinforced armored doors and come with advanced features for biometric authorization such as palm scanners that can identify up to 5 million points on the hand of a person who’s trying to open the vault. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock, Jason Williams (Twitter). At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post The Daily: Binance Adds Stablecoin Pairs, Tzero Patents Integration Platform appeared first on Bitcoin News.
Bitcoin News

Overstock’s tZERO Receives Patent for ‘Crypto Integration Platform’

Overstock’s tZERO Receives Patent for ‘Crypto Integration Platform’ E-commerce giant Overstock.com’s cryptocurrency subsidiary tZERO has filed a patent for a “crypto integration platform” for trading digital assets. The patent was published by the United States Patent and Trademark Office on Jan. 1. The patent filing describes a system that would be able to receive orders […] Cet article Overstock’s tZERO Receives Patent for ‘Crypto Integration Platform’ est apparu en premier sur Bitcoin Central.
Bitcoin Central
More news sources

Trending

Hot news

Hot world news

BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of Descryptive.com via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
Ethereum World News

Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
Bitcoin Exchange Guide

Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on Bitcoinist.com.
Bitcoinist
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.