A bitcoin ETF may obtain automatic approval of the SEC as a result of the shutdown in the US

The Commission on securities and exchange Commission (SEC) must take a final decision on bitcoin ETF from VanEck, and SolidX 27 February 2019. However, due to the shutdown of the US government there is a possibility of automatic approval of the launch of the bitcoin Foundation.

A lawyer from the sphere of securities, Jake Chervinsky said that the shutdown of the government in the US could seriously affect the upcoming decision on the bitcoin ETF from VanEck, and SolidX.

In early December, 2018 SEC used the latest delay for the application to launch a publicly traded bitcoin Fund, the Bitcoin Trust filed by the company VanEck, SolidX BZX Exchange and the CBOE.

“February 27 is the final deadline for the approval or rejection of the application VanEck and SolidX. The SEC does not have the ability to extend the 240-day period from the date of registration of the application in the Federal Register. According to the Statute, the SEC strictly prohibits deferral in excess of 240 days… By law, this means that if the SEC won’t be able to make a final decision until February 27, the ETF will be automatically approved”.

However, Czerwinski said that the automatic approval of the ETF was “unlikely” because the SEC published on its website a notification stating that “despite the shutdown, the Agency still continues to work a limited number of staff”. The Commission added that they will “respond to emergency situations related to the integrity of the financial market and protection of investors.”

The SEC also published an operational plan for the duration of the shutdown. The document clarifies that the Agency will cease “consideration and approval of applications for registration in respect of new financial products”, which include bitcoin ETF.

Czerwinski believes that the Commission will do everything possible to prevent automatic approval of the controversial financial instruments such as bitcoin ETF.

In that case, if automatic approval for a bitcoin ETF will be, “it will not be a full warranty starting the tool, as it can be easily canceled.”

“When the shutdown is complete, the SEC may initiate the cancellation of this decision”.

The lawyer also commented on the pending approval of the Commission on trade commodity futures (CFTC) has started activities Bakkt.

“Unlike the SEC, the CFTC has no statutory deadline for a decision on the Bakkt. So the launch Bakkt just will not take place until the completion of the shutdown”.

The post A bitcoin ETF may obtain automatic approval of the SEC as a result of the shutdown in the US appeared first on FineCrypto.

FineCrypto

The developers of Ethereum postponed hardwork Constantinople in connection with the identified vulnerability

Scheduled for 17 January hardwork Constantinople has been postponed. The developers have decided to postpone the upgrade of the network for the time required to resolve the vulnerabilities identified by the team ChainSecurity.

During Tuesday’s meeting, the developers of Ethereum, and joined them client developers and other applications running on the platform, agreed to postpone hardwork. A new date has not sounded, at least we are talking about the period required to eliminate the vulnerability.

Previously, on 15 January came the report of the company СhainSecurity involved in the audit of smart contracts. In the document, in particular, it was argued that the suggestion to improve the work of the blockchain EIP 1283, in the case that it will be implemented, can create a vulnerability, using which attackers can steal money of users.

During the discussion the participants came to the conclusion that the solution to the problem may require more time than remains before the scheduled 04:00 UTC 17 January hard forks.

We are talking about the so-called reentrancy attack in the translation appearing as the re-attack or a recursive call. This vulnerability has become one of the causes of cracking the DAO in 2016.

Recall that hardwork, or if you listen to the recommendations Vitalik Buterin, upgrade network Broadcast Constantinople was originally scheduled for the autumn of 2018.

It includes a number of changes that improve the platform code. In addition, it involves the postponement of the so-called bombs of difficulty for a year and a half, and a reduction in the remuneration of miners from 3 to 2 esters per block.

The post The developers of Ethereum postponed hardwork Constantinople in connection with the identified vulnerability appeared first on FineCrypto.

FineCrypto

Why quantum computer is an IBM not a game changer in the cryptocurrency market

The largest exhibition of technologies CES 2019 in Las Vegas featured many innovations. One of them is quantum computer from IBM called Q System One. Company representatives said the computer is designed for “commercial and scientific use” and it can be used for solving problems that are too complex for current computing systems. In media appeared reports that the quantum system IBM game changer to the stock market and will lead to imminent death of Bitcoin. Is it really so?

IBM introduced the quantum computing system

The IBM announcement of its new system of quantum computing have caused the cryptocurrency community concern that this technology could mean the death of Bitcoin and cryptocurrencies in General.

Fears based on the fact that the emergence of quantum computing can break modern encryption methods, undermining the security of the blockchain.

In the Q System One uses 20 Kubany chip IBM, and the company claims that the device is “intended for commercial use”.

Arvind Krishna, the Director of IBM Research, called the system “a transitional product, it is crucial for the extension of quantum computing beyond the research lab, as the company is developing a practical quantum applications for business and science”.

Although the IMB implies that the computer can be bought physically, until the device is available only through the cloud because of the need extremely delicate handling and climate that supports the work of the quantum chips. According to Gizmodo, IBM “already offers cloud-based access to the system with 20 Kubany chip”.

Experts doubt the practical use of 20-cubitas system IBM

Although some experts noted the importance of the Q IBM System One for commercial purposes, the majority is still skeptical about the capabilities of the system, considering that a 50-kubinyi chips are likely to have a wider range of practical applications.

Katzgraber Helmut (Helmut Katzgraber), chief scientist at Microsoft Quantum, also describe the new IBM as “a historic milestone that allows you to purchase a digital device for commercial purposes, even if the technology is in its infancy”, but believes that the system will be of little use after studies and PR.

IBM Q System One is not useful for calculations

Despite the increasing availability of quantum computing has been called “significant,” Andrew childs (Andrew Childs), co-Director of the joint center for quantum information and computing Sciences at the University of Maryland, expressed skepticism about the device IBM.

He said: “I think that if IBM wants to create something interesting, then you need to significantly improve the results, not just to place the qubits in a nice package”.

“This is not a quantum computer to practical use, and step to it,” said Winfried Hensinger (Winfried Hensinger), Professor of quantum technologies at the University of Sussex (the University of Sussex). — “Do not think of it as a quantum computer that can solve all the problems associated with quantum computing. Think of it as the prototype machine, allowing to test and develop some programs that may be useful in the future,” he added.

The post Why quantum computer is an IBM not a game changer in the cryptocurrency market appeared first on FineCrypto.

FineCrypto

CEO Binance Troll for his remarks

In a recent tweet, the General Director of the Binance Chanpen Zhao proposed his own solution for the safe storage of crypto-currencies.

In particular, after the recent hacking Cryptopia it is advised to store coins in the wallets of the exchange, claiming that it is safer than storing on personal devices:

“Self-storage of coins. You are fighting hackers and make an effort not to lose access to their wallet. In addition, you may break the computer, lost USB. Storage on the exchange. Use only the most reliable and trusted exchange. Or go to DEX”

His tweet caused a wave of criticism, since it was a direct contradiction of the news about the hacking of Cryptopia. Trying to defend their point of view, Zhao replied opponents, but even more linked in the absence of logic.

One of the users asked the head of the exchange to enter the insurance, since he is so sure of the invincibility of their exchanges. Known cryptoanalysis WhalePanda called the Council “absolutely awful” and recalled the infamous story of MtGox.

Seeing this reaction, Zhao explained that he was misunderstood, in fact he wanted to say something quite different:

“…in my tweet does it say that any option is better than another, it all depends on the skills of a particular person, his preferences, localization tools, etc. Most importantly, this is for #BinanceDEX. Too bad that I haven’t clearly explained it.”

As we can see from this message, the motive for the treatment of Zhao to the community remains unclear. Perhaps the reason for this General decline in trading activity on the stock exchange and as a result lower yields. It can also be related to the last major withdrawals with Binance.

Today CEO of cryptocurrency exchange Kraken, Jesse Powe said that users should not store your cryptocurrency on the exchange in greater volume than is necessary for active trading. For all other cases, the owners of digital currencies needs to use a trustworthy hardware wallets, for example, Ledger and best wallet.

The post CEO Binance Troll for his remarks appeared first on FineCrypto.

FineCrypto

The Russians created a fake wallet Electrum: How to identify a Scam and not to fall into the trap

Kriptonyte always been the target of criminals and hackers. This is a new form of money allows you to move them around the world without any obstacles, what makes the niche so popular among hackers. Right now, the ratings GitHub is gaining new Electrum wallet, which in reality is not what it claim to be.

Another fake crypto

Most cryptocurrency enthusiasts and veterans know that not all programs on the Internet can be trusted. The community has repeatedly recorded many attempts to deceive the naive cryptonomicon by using fake purses, which are simply stealing the money. It seems that the trend is on the decline is not going to go. Recently there were reports about a new purse-a copy of Electrum, which is actively promoted on GitHub.

If someone does not know, Electrum is an open-source crypto code. The application code can be downloaded from GitHub. Savvy cyber criminals from Russia used this opportunity and created its own wallet, which quietly steal the money of users.

According to information NullTX, a fake web wallet is hosted on Russian hosting Exodus. The main difference from the original blast zone .one, while the real purse is running on the domain .org. It is likely that Russian hosting was hacked, but the problem may be much more serious. The repository in GitHub called “Electrvm” instead of “Electrum”, and this is a direct indication of a malicious intent.

Fortunately, Metamask, and EthAddrLookup already brought this host in the blacklist. As a result, most users will not be able to download a fake wallet.

Now that the secret is out, will be interesting to see how long will last this website and the wallet. Since fake domain Electrum.one was a few months ago and it still works, its complete elimination may require a little more time than expected. It should be noted that until now, information about the victims from the hands of fraudsters is no.

The post The Russians created a fake wallet Electrum: How to identify a Scam and not to fall into the trap appeared first on FineCrypto.

FineCrypto

For the virus-the extortioner Ryuk are not North Korean, and Russian hackers – media

Virus-extortionist Ryuk, blocking access to the data on the infected computer, and opening it only after payment of ransom illegal, but quite profitable business. Over 5 months, victims of the virus paid the extortionists over 700 bitcoins. Initially it was thought that this virus is the handiwork of hackers from North Korea, however, after analyzing the data, experts now believe that the trail leads to Russia.

To such conclusion experts from CrowdStrike and McAfee Labs, analyzing the technical details related to the virus. McAfee found a lot in common in the code of Ryuk and virus Hermes, manifested itself in 2017 and associated with Russian hackers.

In particular, one feature of the virus was the fact that it could not be used against the computer, one of the system languages which were Russian, Ukrainian or Belarusian. According to them, Ryuk is technically a development of the Hermes and is based on his code.

CrowdStrike also believes the virus Ryuk the reincarnation of Hermes, however, stating that the latter had sold on Internet forums for $ 300, so theoretically it could have been by anyone from any country. Both companies believe that in recent attacks using this virus is a hacker group the orange SPIDER.

The first cases of a new virus-the extortioner recorded in August, but it occurred immediately after the New year. Lose virus systems publishing house Tribune Publishing has delayed the release of a number of prominent American publications, including the Los Angeles Times, the San Deigo Union Tribune, Wall Street Journal and New York Times.

Another characteristic feature of the virus, named after a character in a Japanese manga series – a differentiated approach to the amount of ransom. The virus attacks mainly the corporate network, but the amount of ransom required for unlocking the data differs significantly depending on the scale of the target or view of hackers on it. The researchers argue that cases demanding the amount of redemption in the amount of from 1.7 up to 99 bitcoins bitcoin.

We will remind, in August came a curious report on the results of a survey of 750 employees of large British companies – half of respondents admitted that their organization has some amounts in the cryptocurrency, in particular bitcoin, specifically for this purpose. Ie, in most cases, companies buy and store your crypt to be able to pay the required ransom by hackers.

The post For the virus-the extortioner Ryuk are not North Korean, and Russian hackers – media appeared first on FineCrypto.

FineCrypto

Cryptopia hacked, the stock exchange reported significant losses. Chithiram the end?

January has started briskly. A week ago hackers made a successful 51 percent attack on the blockchain Ethereum Classic, which ended in huge losses and damaged reputation of the team. Although the attackers returned the equivalent of 100 thousand dollars for the Playground Gate.io, the situation is not saved. Now the problem caught up with cryptocurrency exchanges — hacking reported Cryptopia.

What happens to Cryptopia

At the moment the site is not working. If you try to go to the exchange see the following.

The inscription says that at the moment Cryptobia is in unscheduled maintenance. Representatives of the team I apologize for the inconvenience and promise to get back on air as soon as possible. According to their statement, the developers are hard at work restoring health. It boils so much that the guys didn’t even notice the typo in the last word.

Intuition fails — the worst had happened. The details of the representatives of Cryptopia shared on Twitter.

According to the staff, January 14, the exchange has experienced problems in the security system that led to “substantial losses”. As soon as the programmers noticed the flaw, the site was transferred to the maintenance mode.

Cryptopia is not working

Immediately thereafter, the staff contacted state agencies, including the New Zealand police and the Department for combating high-tech crime. The latter is already investigating the situation.

Before the end of the relevant action trading platform will be unavailable. The company also promises to notify users about the progress of the situation.

It seems that this time the hackers got to the big money of the exchange, which is called the “Queen shitkino”. And although the same WhalePanda calls it “irrelevant”, the volume of trading remains high. By the way, the data on the exchange on CoinMarketCap already are not updated.

For the last 33 hours with Cryptopia brought at least 20758 ETH. It’s the equivalent of 2,657 million dollars.

If the losses are really “essential”, waiting for the falling of many coins. Ethereum, Zcoin, Ethereum Classic and other major projects are traded on the more popular exchanges, so that their event is unlikely to be affected.

The post Cryptopia hacked, the stock exchange reported significant losses. Chithiram the end? appeared first on FineCrypto.

FineCrypto

Paris bitcoin puzzle for $1000 unraveled

Kryptonitetm took less than a week to solve a bitcoin puzzle 0.26 BTC ($ 1000) hidden away in the Paris street art artist Pascal Bayart. The exact solution to the puzzle is not yet solved.

January 7, French street artist Pascal Bogart announced to the public that has created a”revolutionary” mural in honor of the movement of the Yellow jackets and the celebration of a decade of Bitcoin.

In his fresco wizard has hidden a private key to a bitcoin wallet containing 0,26 BTC or $ 1 000 as a reward for the solution of the puzzle. Within a few days, after a series of donations, the reward has grown to 0,289 BTC.

Six days later the puzzle was solved. Pascal Bogart with a screenshot of the transaction, wrote in his Twitter:

“Someone just figured out bitcoin! Congratulate him or her. Please contact me and tell the community how You found the solution.”

Later user by the name of Antoine Giver of Etherium tweeted:

“@marabrito31 and I just found the key to mosaic Pascal Boyata in Paris. We are very pleased to be the winners in this contest and thank everyone who participated in this promotion”.

According to lucky, the solution of the puzzle will be provided later:

“In the coming days we will disclose the details of the clue. Bring the world news about Bitcoin!”

Anthony notes that the painting Bearcom, very accurately portrayed “the struggle of the French citizens who have joined together to defeat the lies of the banks.”

The painting itself has revolutionary overtones — it depicts a woman waving the French flag and support the men in yellow vests.

Recall, French artist Pascal Bogart famous street art works, in which he deals QR codes from your bitcoin wallet. According to the artist, Paris has all chances to become the center of a new art movement that combines the fields of art and cryptocurrency. Bogart firmly believe that cryptocurrency and art are closely intertwined, because Bitcoin is often a subject of creativity of artists and also a tool which you can use to profit from their creations.

Note, Marguerite de Courcelles invented a new genre of crypto-art-puzzles that gradually become mainstream. According to the laws of a new genre, in the compositions of the puzzles that hold the key, finds that, the attentive connoisseur of art can receive a reward scriptactive.

The post Paris bitcoin puzzle for $ 1000 unraveled appeared first on FineCrypto.

FineCrypto

Important upgrade: What you need to do to hard forks of Ethereum?

Hardwork Ethereum to be held on January 16. After the upgrade Constantinople will indeed be a new chain of blocks, but the “classic” division of the block chain as it was with the same Bitcoin Cash, will not. The fact is that hardwork Constantinople is not disputed and is intended to improve the project. What should ordinary users and miners Ethereum before hardforum?

Preparing to Constantinople

During activation Constantinople miners must switch to a new blockchain, which will be a continuation of the current chain of blocks of Ethereum. All smart contracts will also be transferred from “old” to “new”. Because the developers had planned from the beginning to make major changes in the code of the project, they needed to hold it hardwork.

However, the possibility of creating new coins after Constantinople still exists. Such a scenario is unlikely to materialize, but if the big mining pools will suddenly decide to go on their way, they will be able to continue to produce their own coin on the blockchain.

What happens to ERC-20 tokens during Constantinople?

Standard ERC-20 along with smart contracts will be transferred to the new blockchain. For a normal user to do nothing. By the way, after the upgrade they will pay less for gas transactions with tokens.

What do the miners?

Almost all the major mining pools were supposed to make the necessary preparations for the hard forks. About ASIC mining: resistance to the work of Asimov network Ethereum has been discussed in the Ethereum Foundation, but it was never added to the list of changes in Constantinople.

What will happen to the coins on the exchanges?

Once again we remind you that you don’t have to hold large stocks of cryptocurrencies for trading platforms, it is unsafe. With the assets traders will be fine — the largest stock exchange is also ready for the hard forks.

Beware of the Scam!

Now there are rumors about airdrop coins Ethereum Nova and other similar projects. It is the work of scammers, phishing attacks aim to extract your private keys. During activation Constantinople you just have to wait, so be careful and don’t click suspicious links.

The post Important upgrade: What you need to do to hard forks of Ethereum? appeared first on FineCrypto.

FineCrypto

Hackers Dark Overlord has released the second package of documents on 9/11 and received a ban on Steemit

Yesterday the hacker group The Dark Overlord (TDO) has posted the next part of secret documents containing information on the tragedy of September 11, 2001. Immediately after this account TDO on the blockchain decentralized social platform Steemit, where there is a link to the encrypted archive have been blocked. However Steemit is not the only path to being in the blockchain file.

OTD announced that the stolen materials will be published in five parts — in that case, if they get 2 million dollars in bitcoins from the online community. However, hackers are also willing to accept compensation from the US government or legal entities to remove any information or names appearing in the documents. As proof of their intentions OTD has opened access to the archive with the name “Preview”, containing official letters, e-mails and documents that mention law firms, the transportation security administration and Federal aviation administration related to the tragic events of 9/11.

The encryption key to extract the first secret dump 10GB appeared on the network of the 1st of January. The next day, the TDO accounts on Twitter and Reddit was blocked in order to deny hackers the opportunity to blackmail and further participants of the process of 9/11.

On 9 January a group of hackers cracked the encryption key from a file called “Layer 2”. Immediately after this social blockchain network Steemit blocked account Dark Overlord, drawing the attention and anger of the community, violating the principle of immutability of the blockchain and the protection of freedom of speech.

Publication “Layer 2” was made possible after hackers obtaining the required amount, in the amount of $ 12,000 in bitcoins. As a result of blocking of the page TDO in Steemit many community members reacted angrily to the incident, accusing the platform of censorship.

“Steemit has positioned itself as a decentralized network… but it is, apparently, a lie. It took them quite some time to ban Dark Overlord”.

However, many noted that Steemit and Steem are two different things. Steemit is only a mechanism to view the blockchain Steem. The blockchain remains unchanged, and, as it turned out, there are several alternative options for viewing content online.

“To access the remote Steemit of posts you can use other apps running on the blockchain Steem. For Example, PartikoTeam”.

Some users note that the any platform has the right to restrict access to users who publicly blackmail and extort money from people.

It is obvious that the main motivation Dark Overlord is money, not politics, so maybe their actions must be seen in this light.

The post Hackers Dark Overlord has released the second package of documents on 9/11 and received a ban on Steemit appeared first on FineCrypto.

FineCrypto