Years-Old Cybersecurity Vulnerably Exposed in Blockfolio
Published at: June 6, 2020
This article is no longer available, as it did not meet Cointelegraph's editorial standards. We apologize for the inconvenience.
It’s safe to say that 2020 has been a banner year for the digital-asset space. Bitcoin (BTC) soared past its previous high, and many other prominent cryptocurrencies reached their highest levels since the heyday of 2017 and early 2018. Across the financial services industry, institutional voices are expressing reinvigorated interest in digital assets. The growth and maturation of this space has been impossible to ignore, engendering plenty of optimism among those who build the platforms and systems on which it runs. Unfortunately, not all the headlines from the past year have been positive. Several well-known crypto exchanges and other organizations …
Twelve months ago, the total value of cryptocurrency locked in staking programs was barely more than $1 billion. Today, there is $58 billion locked in decentralized finance, or DeFi. The adoption of DeFi has been a sea change that’s helped push the crypto industry into the mainstream, but it’s hardly the only one. Mainstream institutions including MicroStrategy and Tesla have poured billions of dollars into Bitcoin — and some have been buying the dip — while nonfungible tokens have evolved from CryptoKitties and CypherPunks to an artistic medium pulling in millions in bids for a new generation of digital artists …
The amount of cryptocurrency and blockchain-related hacks has been decreasing over the course of 2020, a new report claims. According to data analyzed by VPN provider Atlas VPN, the number of hacks in the first half of 2020 dropped more than three times compared to the same period in 2019. The data is part of a report released by Atlas VPN on Oct. 28. According to Atlas VPN, 2019 was a record-breaking year for blockchain hackers that exploited 94 successful attacks in the first half of the year, while in H1 2020 there were 31. Per the report, 2019 as …
London-based crypto data provider CryptoCompare has updated its crypto Exchange Benchmark, removing Binance cryptocurrency exchange from the list of the top 10 exchanges. Binance, the second biggest crypto exchange by daily trade volume to date, is not included in the CryptoCompare’s list as the rankings do not rely on aggregate volume data in its analysis, the firm said in a press release to Cointelegraph on Nov. 19. In order, the top 10 crypto exchanges in CryptoCompare’s second Exchange Benchmark are: Gemini, Paxos’ itBit, Coinbase, Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer and Bitfinex. Binance was ranked seventh in the first Exchange …
On Feb 10, Cryptocurrency exchange Binance announced a major upgrade to its Proof of Reserves Verification system to include zk-SNARKs — a cutting-edge technology that Binance says will allow it to verify its reserves in a more secure and transparent manner. 3. Product and Service. Plus transparency. The #Binance Proof of Reserve system has now integrated with zk-SNARK, a zero-knowledge verification method. It will also be made open source. We hope this would help the entire industry benefit. https://t.co/ijVVeF8iFT — CZ Binance (@cz_binance) February 10, 2023 After the FTX incident in 2022, Proof of Reserves Verification became a crucial aspect …