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Month: August 2018

Cryptocurrency exchanges Security Vulnerabilities

Cryptocurrency exchanges Security Vulnerabilities

There are approximately 130 cryptocurrency exchanges around the globe today. Most are based in Asia. They’ve existed in a foggy no man’s land of oversight that banks only dream of. Because of the trans-national locations of these entities and the diverse composition of investor nationalities, regulatory oversight of cybersecurity standards has been virtually non-existent. For instance, the South Korean cryptocurrency exchange Coinrail confirmed that it was hacked in June 2018. According to the local news agency Yonhap, the hack resulted…

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Blockchain Code Audits Why do you need that?

Blockchain Code Audits Why do you need that?

“The main idea behind blockchain Technology is to provide security and redundancy through consensus to the applications in which it hosts. For example, if a blockchain is hosting a banking application and a node is hit with a DDoS, all other nodes would keep the application running.” If a node is hacked and an attacker tries to falsify the blockchain to show the attacker has more money in their account, it would not work as there would not be consensus….

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The Dark Side Of Smart Contracts

The Dark Side Of Smart Contracts

Blockchain is a hot topic at the moment, mostly because it’s the underlying technology behind bitcoin and other cryptocurrencies. Blockchain and cryptocurrencies go together like the Internet and email, but in the same way that you can do more with the Internet than just send emails, you can do more with blockchain than just storing bitcoin. The easiest way to think of blockchain is as a new type of database which can’t be corrupted or compromised. The blockchain itself is…

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High-Risk Vulnerability found in EOS Blockchain!

High-Risk Vulnerability found in EOS Blockchain!

Leading Chinese digital security firm Qihoo 360 reported of detecting a series of “epic” security vulnerabilities in the EOS network early on March 29th. These faults could allow potential attackers to gain remote access and control over any EOS node, which could have resulted in disastrous repercussions for the whole EOS network. Since the attackers would be able to control any EOS node, simply said they could do whatever they want, including Publishing malicious smart contracts, dig up cryptocurrencies, based…

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Blockchain Smart Contracts Posing Danger

Blockchain Smart Contracts Posing Danger

There’s a lot going on in the world of decentralized networking and not just the daily rollercoaster ride of the cryptocurrency markets. A decade after the mysterious Satoshi Nakamoto first unleashed Bitcoin on an unsuspecting world, the blockchain has grown and branched out and now a thousand flowers blossom, some of them rather peculiar blooms indeed. Look around and you’ll see that blockchains are apparently the answer to every problem. From replacing the global banking system to guaranteeing the provenance…

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Can My Blockchain Wallet Be Hacked?

Can My Blockchain Wallet Be Hacked?

Blockchain spreads around the world, and it is already quite obvious that the new technology may be applied in various fields. Blockchain technology is becoming a trend all around the world; millions of people are using this new mode of payment. But before you start using blockchain wallet, there are few things to clarify. Can blockchain wallets be hacked? This is one important concern among several digital currency users. A few months ago, news about a Bitcoin mining service hack…

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SamSam Ransomware Crew Made Nearly $6 Million From Ransom Payments

SamSam Ransomware Crew Made Nearly $6 Million From Ransom Payments

The SamSam ransomware has earned its creator(s) more than $5.9 million in ransom payments since late 2015, according to the most comprehensive report ever published on SamSam’s activity, containing information since the ransomware’s launch in late 2015 and up to attacks that have happened earlier this month. Researchers at Sophos have tracked Bitcoin addresses owned by the attackers mentioned on ransom notes of each SamSam version and found the attackers have received more than $5.9 million from just 233 victims,…

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