|Binance has just suffered a $40.7M Bitcoin theft, its largest loss ever
Binance has long been lauded for its top-notch security, but this week the exchange discovered a security breach that saw more than $40M in Bitcoin stolen. The exchange is still in the process of identifying impacted customer accounts, and will be using its SAFU fund to cover the shortfall in funds lost by affected customers.
Inside Zuckerberg’s decade-long battle over crypto with the Winklevoss twins
Facebook CEO Mark Zuckerberg and the Winklevoss twins have always had a contentious relationship. But the twins’ deep involvement with crypto could prove to give them a leg up on the race with Facebook to develop the world’s leading cryptocurrency. The rivalry between the two parties has only intensified in recent years as both begin to compete more heavily on the crypto front, even after the Winklevoss twins won a $65M settlement from Facebook for slighting them in its early days.
Facebook’s new digital coin could double or triple crypto’s global user base
Recent analysis has shown that the introduction of Facebook’s digital coin could potentially triple the number of crypto users worldwide. The rollout could also drive an overall uplift in the markets, particularly if the cryptocurrency sees heavy usage early on. The social networking giant is presently searching for investment and technology partners to help it build and launch the new payment solution.
A Belgian programmer solved this perplexing crypto puzzle 15 years too soon
Last month, a Belgian programmer solved a decades-old cryptographic puzzle that has eluded even the most masterful problem solvers. Despite the puzzle being devised 20 years ago, its underlying principles have a significant amount of overlap with existing crypto protocols that leverage blockchain technology.
The story of Crypto Capital’s dark past, and its ties to the crypto industry
Crypto Capital is quietly becoming a quasi-central bank of the crypto industry, helping offer banking services to crypto exchanges, blockchain startups, and the like. Incorporated in Panama, the shadowy company has been helping exchanges like Bitfinex handle billions in customer funds. Two of its employees were arrested for money laundering earlier this week, casting a shadow over the organization.
Bitmain has reportedly cut its crypto mining capacity by up to 88%
This week, Bitmain revealed that it had reduced its Bitcoin mining power by 88%. The statistic is indicative of an overall reduction in capacity, and signals that the crypto mining giant is beginning to shut down at least some of its mining equipment. The news also runs counter to Bitmain’s claim that it would be deploying $80M worth of new mining equipment later this year.
Here’s how Cosmos is looking to put the global economy on the blockchain
Cosmos is a relatively new blockchain project that enables independent blockchains to interact with one another. This could open up an entirely new set of use cases and opportunities for crypto platforms to collaborate, and it’s perhaps the most promising interoperability solution yet.
A “blockchain bandit” is guessing private keys and scoring millions in crypto
Security researchers have discovered that a mystery thief is stealing millions of dollars in crypto, simply by guessing private keys. While the concept is simple, the execution of the theft appears to be quite complex, involving an array of advanced cryptographic techniques used to “predict” a user’s private key.