Hacker Steals 30,000 EOS Through Gambling dApp Loophole

An attacker has made off with at least 30,000 EOS by exploiting gambling dApps on the network. By congesting the network with rented resources, the attacker was able to guarantee a winning outcome every time. Anatomy Of A Crime As pointed out by community members on Twitter, the attacker managed to steal over 30k EOS by manipulating winning conditions in gambling dApps. They first rented a massive amount of CPU and NET at EOS’s REX resource exchange. By staking CPU and NET for themselves and the attacked contract, the attacker was able…

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Nature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin

In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and balance sheet,” and calling the Fed “boneheads” for refusing to inflate credit bubbles further. Sycophantic support of the leader aside, negative interest rate policies (NIRP) are slowly but surely gaining prominence worldwide, setting everyone up for…

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Crypto Facilitates Money Transfer for Restricted China

Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money can be difficult. In spite of bitcoin’s somewhat precarious legal standing within the nation, Chinese are nonetheless finding a ready avenue of non-draconian, free market exchange in all things cryptocurrency, using these channels to prosper even…

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Local.Bitcoin.com Gathers 56K Accounts and $200M Worth of Trades Initiated

Three months ago, Bitcoin.com launched its over-the-counter BCH marketplace on June 4. Since then, Local.Bitcoin.com has aggregated more than 56,000 accounts, hundreds of bustling users every day and thousands of BCH trade offers. Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed 56,000 Local.Bitcoin.com Accounts and Growing Over the last few months, the peer-to-peer marketplace Local.Bitcoin.com has seen steady growth when it comes to registered accounts and liquidity. At the time of publication, the noncustodial trading platform has more than 56,000 accounts stemming from cities and towns all…

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NBA Star to Convert His $34M Contract into a Digital Investment

An NBA basketball player for the Brooklyn Nets, Spencer Dinwiddie, is converting his multi-million dollars contract into a digital token investment vehicle, according to The Athletic’s sources. Dinwiddie To Securitize NBA Contract The disruptive effects of cryptocurrencies and blockchain technology are permeating all industries and sectors, including the world of sports. Most recently, Shams Charania of The Athletic reported that Spence Dinwiddie is seeking to boost his capital and ensure his future income by converting his contract into a digital financial instrument. Charania writes, Will Spencer Dinwiddie trigger a new…

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Big Banks Won’t Touch Crypto Clients – But These Smaller Banks Will

Cryptocurrencies undoubtedly bring new business opportunities. The expanding industry around digital assets and its customers need more and more services that traditional sectors can provide. Banking is often a bottleneck in the crypto space as most traditional institutions are still reluctant to get their feet wet. Smaller banks, however, are more willing to occupy this niche and reap the rewards. Also read: Crypto Banking Expands With Positive Interest Rates and New Services Aiming for a Reward That Justifies the Effort Navigating the regulatory maze, in the midst of which most…

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Binance CEO Calls Sportsbet’s New Bitcoin Sponsorship ‘Smart Move’

Sportsbet.io, the sponsor of Premier League Watford FC, made waves after putting the Bitcoin (BTC) logo on the team’s uniforms. Changpeng Zhao, the CEO and Founder of leading crypto exchange, Binance, has voiced his approval of the new endorsement.  Premier League Team First to Wear Sportsbet, BTC Logos Watford will wear the Bitcoin logo on their team jerseys as part of the sponsorship from Sportsbet.io. The logo itself did more for the club and the betting startup than any other form of advertising – while also giving exposure to Bitcoin…

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Research: Blockchain Devices Market Will Be Worth $1.2B in 5 Years

The market for blockchain devices will grow about fivefold in the next five years, making big annual leaps. This is the vision of Markets&Markets proprietary research. Blockchain Devices to Gain by 42% Annually The market for devices dedicated to cryptocurrency or having blockchain-connectivity features will grow by leaps of more than 40% each year, the research predicts. Sales may increase for all categories, including ATM, hardware wallets, crypto-enabled smartphones, POS terminals for crypto payments and other devices. The research does not include specifically ASIC, which are not on the consumer…

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Libra to Address Regulatory Challenges and Launch By End of 2020

Bertrand Perez, General Director of the Libra Association, told the French financial media Les Echos that the stablecoin project backed by Facebook would go live by the end of 2020. His comments come a day after French Finance Minister Bruno Le Maire pledged to stop Libra in Europe. Libra Is Too Big to Be Opposed While Facebook admitted that Libra might never launch under certain circumstance, it seems that the project is too big to be opposed even by central banks and national regulators. Naturally, the Geneva-based non-profit running the…

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The US and UK Are Losing the Cryptocurrency Race

As Britain follows the U.S. in its Trumpism style of politics, it seems as if the two countries are hellbent on losing the cryptocurrency race as well. Countries Leading the Cryptocurrency Race Institutional investment continues to pour into the cryptocurrency space. With names like the New York Stock Exchange and Microsoft getting on board and legitimizing Bitcoin like never before. Major corporations around the world like MasterCard and Allianz are investing in blockchain initiatives. The search for talented blockchain developers continues to grow, and many countries around the world are…

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