Hackers Withdraw 7,000 Bitcoins in Binance Crypto Exchange Security Breach

Binance, one of the largest cryptocurrency exchanges by daily trade volume, has experienced a major security breach on May 7, according to a statement shared with Cointelegraph on May 7. Per Binance, hackers employed a variety of tactics including phishing and viruses to obtain a large number of 2FA codes and API keys in addition to other information. According to the exchange, there was one affected transaction, wherein hackers were able to withdraw 7,000 bitcoins (BTC) worth $40,705,000 at press time. In a letter on Binance’s website, CEO Changpeng Zhao…

Price Action Favor Ethereum (ETH) Bulls, Joseph Lubin Not Happy

Ethereum (ETH) add 12 percent in the last week ConsenSys founder not happy with the proposal of a complete overhaul In a public chain, development is slow, and that is what is bogging down Ethereum. However, the idea of improving everything disappoints Joseph Lubin, the founder of ConsenSys. Joseph is upbeat and an Ethereum (ETH) bull maintaining that prices will increase 1000 folds in three years. Ethereum Price Analysis Fundamentals There is optimism around Ethereum. Not only is this innovative platform decentralized, with a team of developers willing to take…

Tron (TRX) Up 5.2 Percent but Will Soar if Bakkt Say Yes

Tron (TRX) add 5.2 percent Application to Bakkt calling for TRX inclusion is a show of intent With Bakkt and argument that Tron’s potential is unexplored, investors are bullish. Nonetheless, before 4 cents, there must be evidence, and that demands a rally above 3.1 cents with a spike in participation levels. At the moment, Tron (TRX) is up 5.2 percent but could sink if buyers fail to breach 2.7 cents. Tron Price Analysis Fundamentals There is building, network improvement and marketing as team leaders vouch for their projects. While the…

Bitcoin (BTC) Is A Secure Investment Next To Gold, A Primer to $8,500?

Bitcoin (BTC) soar, add 13.3 percent in the last week. Lisk founder says Bitcoin is a secure investment next to Gold After a stellar performance, analysts believe last year’s crypto winter is over as Bitcoin (BTC) prices bottom up, retesting $6,000. From candlestick arrangement, we expect buyers to be firmly in control once prices rally and close above Q4 2018 support now resistance. Bitcoin Price Analysis Fundamentals That the space is rapidly evolving is true, and it is an observation that the founder of Lisk, Max Kordek, notes. In an…

‘Predatory’ Bots Exploiting Decentralized Crypto Exchanges: Report

Arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX), according to a report. Citing recent research from Cornell Tech, Homeland Security News Wire said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the piece said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in DEXes, paying high transaction…

Chinese Authorities Probably Want to Exploit Blockchain to Monitor Citizens

By CCN.com: In modern times, China has worked to consolidate state power over individuals. Local authorities are trialing systems to control peoples’ social standing, access to jobs, and even where they can go. Until now, one refuge for its citizens has been in the wooliness of time; not even the all-powerful Communist party can always measure where people go, when, and what they do. But, with a state-mandated blockchain, this could begin to change. Those inside China will be aware of the fate that awaits Bitcoin and other major cryptocurrencies;…

Tether, Bitfinex Stay Afloat Amid Controversy

Tether has been one of the most controversial topics in the cryptocurrency community over the last two years — and things have come to a head over the past few weeks. The wider crypto community has been skeptical of the stablecoin and its claims that it was operating legitimately, due to concerns around its reserve policy. Stablecoins are centralized cryptocurrencies that are typically pegged to a fiat currency like the United States dollar or valuable commodities like oil or gold. Tether (USDT) claimed to be backed by the U.S. Dollar…

Australian Securities Exchange Debuts Infrastructure Replacement as Blockchain Switch Begins

The Australian Securities Exchange (ASX) has released the first code for its replacement app development tool based on blockchain, the company confirmed in a press release on May 7. The new platform, dubbed the Customer Development Environment (CDE), builds on the exchange’s previous offering, Chess, which will now be retired. The initial features, which hinge on distributed-ledger technology (DLT), began a rollout at the end of April, with ASX drip-feeding more to users in roughly two-month intervals before the platform is fully live next year. The scheme is a joint…

‘One-Stop Shop’ for Crypto Mining and Trading to Launch Spot Market May 23

UPDATE (May 7, 2019, 14:00 UTC): This article was updated to note that Bcause is operating under bankruptcy protection. ——— Cryptocurrency exchange and mining startup Bcause LLC says it’s a few weeks away from launching its spot market, despite operating under bankruptcy protection. The Chicago-based company has tentatively set May 23 as the go-live date for bitcoin, bitcoin cash, ether, and litecoin, co-founder and chief marketing officer Thomas Flake told CoinDesk. In anticipation of the launch, it has obtained money transmitter licenses in eight states, with 20 more applications pending, Flake…

Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

Bitcoin price rallied another 4% and climbed above $5,850 against the US Dollar. The price is surging higher, but there are many hurdles near $6,000, $6,070 and $6,100. There was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could spike above $6,000 or even towards $6,800 before correcting lower sharply. Bitcoin price is surging higher towards $6,000 against the US Dollar. BTC could extend gains, but it is facing two important hurdles near $6,100…