tZero, United States retail giant Overstock’s crypto subsidiary, has launched a digital wallet and exchange app for crypto, the company officially announced in a tweet on June 27. The firm calls its new mobile crypto app a hack-resistant solution for trading and storing cryptocurrencies, tZero CEO Saum Noursalehi said in a press release to Reuters. Noursalehi explained that the application will store private keys directly on users’ smartphones, which is expected to provide maximum security, in contrast to “more vulnerable, third-party exchanges for custody.” Moreover, tZero’s private key recovery system will allow users to restore their funds in case if …
Bitcoins (BTC) stolen from major cryptocurrency exchange Bitfinex back in 2016 are on the move again, as hackers shift another massive batch of funds to unknown wallets. According to data from crypto transaction tracking service Whale Alert, Bitfinex hackers moved more than $4.6 million in stolen BTC on Oct. 8. These funds were sent to unknown wallets in two separate transactions of 435 BTC and 8 BTC. But the hackers have moved far more than this amount earlier this week. According to Whale Alert, Bitfinex hackers completed seven more similar transactions on Oct. 7, totaling at 2,900 Bitcoin, or $26.4 …
Similar to a bank account for fiat currency, a crypto wallet is a personal interface for a cryptocurrency network that provides reliable storage and enables transactions. Whether a cryptocurrency is securely stored or not, much depends on the wallet, which is only as secure as its private keys. Wallets are generally either hot or cold. The funds in a hot wallet can be spent at any time, online. A cold wallet functions in contrast: not intended for regular cryptocurrency transactions, but funds can be received at any time. Wallets can also be divided into three groups: software, hardware and paper. …
Major crypto wallet and blockchain data provider Blockchain.com has launched its own crypto exchange to compete with popular platforms such as Binance. The PIT was built by former execs from Google and Goldman Sachs Named The PIT, the new crypto exchange was reportedly set up by former executives from the New York Stock Exchange, TD Ameritrade, Google and Goldman Sachs, CNBC reports July 30. According to the announcement, The PIT will be available in more than 200 countries, initially supporting 26 trading pairs. Customers will be reportedly able to link their bank account with an account at Blockchain.com and trade …
The official wallet of leading cryptocurrency exchange Binance, Trust Wallet, has added support for credit card purchases and Ripple’s XRP token. The company announced the new features in a press release shared with Cointelegraph on March 12. Trust Wallet was acquired by Binance in July of last year in the exchange’s first public acquisition. According to the press release, users can now send, receive, store and exchange XRP via Trust Wallet. According to the wallet’s official website, Trust Wallet also supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), among others, and as well as any ERC20, ERC223 …