Day: February 6, 2018

After a January correction which saw bitcoin shed $8,000, the world’s largest cryptocurrency began making a comeback on Tuesday.

This past Sunday Carlos Tapang, a T-Mobile USA Inc. customer, filed a suit in federal court against the company, alleging lax security measures made it possible for hackers to access his wireless account and steal the cryptocurrency from his mobile wallet —  tens of thousands of dollars worth.

Tapang, of Washington state, accuses T-Mobile of having “improperly allowed wrongdoers to access” his wireless account on November 7th of last year. After the attack, the hackers cancelled his number and transferred it to an AT&T account under their control. “T-Mobile was unable to contain this security breach until the next day,” when it finally got the number back from AT&T, Tapang alleges in the suit.

The cybercriminals got away with 1,000 OmiseGo (OMG) tokens and 19.6 BitConnect coins. Next, they exchanged the coins for 2.875 Bitcoin, according to the suit. On November 7th, the price of Bitcoin was $7,118.80, so had the hackers cashed out then they would have netted a profit of $20,466.55. In just weeks after the incident, the token’s price reached almost $20,000 per coin, but given the volatility of Bitcoin prices, and perhaps a desire to quickly turn the coins into cash, it’s unlikely the hackers benefited from the surge.

The suit alleges T-Mobile is at fault partly because the carrier said it would add a PIN code to Tapang’s account prior to the incident — but no PIN was implemented. And Tapang says there are other weaknesses: He alleges hackers are able to call T-Mobile’s customer support multiple times in attempts to gain access to customer accounts. After several tries, sometimes they’re able to get an agent on the line that will grant them access without requiring further identity verification. The complaint also lists several anonymous internet users who have posted about similar security breaches to their own T-Mobile accounts.

Tapang alleges he couldn’t use his cellphone number and had to “expend time, energy, and expense,” and also suffered “emotional distress” from the incident. He’s seeking damages and injunctive relief, which could order T-Mobile to develop better security measures.

Mobile and internet security will come under further scrutiny as incidents such as this increase with the growing popularity of cryptocurrencies. Companies providing these services to their customers will likely need to implement tougher security measures to protect themselves from similar lawsuits and protect their clients from cybercriminals.

The post T-Mobile Faces Federal Lawsuit After Hackers Steal User’s Cryptocurrencies appeared first on NewsBTC.

“It’s important to remember that if there were no bitcoin, there would be no distributed ledger technology,” Giancarlo told a U.S. Senate committee.

Bitcoincasino.us has become the preferred bitcoin gambling site for many crypto enthusiasts. The new cashback reward that they currently offer is up to ten percent in cashback bonus every week.

There are a few different cryptocurrency types that are accepted in the casino. Namely, these are Bitcoin, Bitcoin Cash, LiteCoin, and DogeCoin. They all have certain limitations for how much you may deposit at one time, but the limits are pretty generous. For example, with Bitcoin, a player may transact between 0.0003 and 5 Bitcoins. That is the best way for a new player to get into the game or a high-roller to keep on playing.

There are no fees when it comes to deposits or withdrawals on any of those types of currencies. That is also a step up in comparison to other bitcoin casinos.

It is not as though this casino only offers a few games. There are actually plenty of games, including just about anything that you could find in a traditional casino. This includes Blackjack, Roulette, Slots, Craps, etc. Each game is just as you might expect to see it in a real casino as well. In fact, there are even live casino games where you can play along with a real dealer at a physical location somewhere else. When you play like that, you are basically involved in a real-life game through your computer screen.

Each week no matter if you win or lose it is possible to claim your ten percent deposit bonus. This is just a little something to keep your account flush and keep you able to continue playing the games that you know and love.

Given the rising rates of Bitcoin in recent days, there is always the possibility that your bonus could be worth more when you withdrawal it than it was when it was deposited into your account, even if you don’t win any gambles along the way. That too adds an element of excitement and intrigue.

When you consider all of these advantages, it is quite obvious that Bitcoincasino.us is the type of place to play at. They are always above board with their players, and throwing in some bonuses like this from time to time never hurt anyone. It is always a joy to play with a casino that you know really wants you as a customer.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

As might be expected, Tuesday’s Senate hearing touched on cryptocurrencies’ volatility. But the head of the CFTC put the matter in perspective.

There are a number of different token standards on the Ethereum network to support its many token contracts. The most familiar of these is probably ERC20, a stable standard which makes it easy to build new, usable tokens while allowing for reasonable customization. This is why many projects use it as their token standard. However, it is not without some shortcomings, and various efforts have been made to address these issues, one of which is called ERC827. Let’s briefly review what this is and what it aims to address.

What is ERC827?

ERC827 is one of the latest token standards and improvements to ERC20 on the Ethereum network. Its goal is to be a simple, elegant solution to some of the known shortcomings of the ERC20 standard – specifically in the execution of calls in transfers and approvals. The GitHub abstract prides itself on being less than 100 lines of code to implement these extensions to the original standard.

It retains the easy-to-use and heuristic nature of the ERC20 standard that we are all used to, but builds upon and improves it, like ERC223 attempted to improve ERC20. The “motivations” section explains that in the current ERC20 model, only value can be transferred. However, Ethereum users can transfer value and data thanks to ERC827. Also, with ERC827, tokens can be approved to be spent by other on-chain third parties.

This new superset of ERC20 is exciting, at least for me, and may change the way we see the ERC20 token. From its GitHub page, we can see that many of the tried and true functions that ERC20 already delivers remain untouched (if it isn’t broken, don’t fix it), but ERC827 addresses transfer, transferFrom, and approve.

Because it takes some of the more pressing shortcomings of the current ERC20 token standard and improves upon them while retaining the compatibility with ERC20, I think that ERC827 is going to be rather popular among new projects and upgrades to current/past projects. The fact that it is fully ERC20 compatible is what this new token standard really has going for it, in my opinion. Not only will users be able to utilize all the benefits of the new standard, but they will also be able to keep using the ERC20 token standard that they have become accustomed to. It’s a win-win.

Its utility and simplicity are both huge strengths for this new standard, and I am intrigued to see what it can do. If you’re into code at all, be sure to check out the GitHub itself; it is always really cool to see how individuals cut down on code and elegantly address issues.

Instead of dozens tweets, just read one piece. #REGULATIONS

Initial coin offerings were one of several subjects up for discussion during Tuesday’s U.S. Senate hearing.

Everything you need to know about the recent crypto ‘hype’ in South Korea. #EXPLAINED

Crypto markets see a slight uptick during the SEC and CFTC hearings #NEWS

Noted economist Nouriel Roubini resumed his criticism of cryptocurrencies on Twitter Tuesday, calling the tech’s enthusiasts “crypto-crazies.”

Very few cryptocurrency projects have made such an impact as Waltonchain. This particular blockchain-based project has been of great interest to investors and speculators alike. Indeed, the value of the Walton cryptocurrency had soared to new heights by the end of last year. Even so, few people are aware of what this currency can be used for.

Waltonchain has its own Currency

Like virtually any new project focusing on blockchain technology, Walton had to have its own native currency. Without one, investors might not see the merit in the new platform. On the other hand, it would be better if existing projects embraced existing major currencies. In the case of Waltonchain, the Walton cryptocurrency – WTC – is the native means of transferring value on the network. It was a golden opportunity for speculators and investors alike, as the value of WTC had risen dramatically before all markets crashed hard.

What can I do With my WTC?

Even though the Walton cryptocurrency is designed to be the main method of transferring value in the Waltonchain ecosystem, its use cases are seemingly limited for the time being. While this project hopes to make a big impact on the Internet of Things industry, there is still a lot of work to be done. Decentralizing IoT-based communication will not be an easy feat, as such projects take time and money to reach their full potential.

With four stages of development yet to be completed, it is evident the number of use cases for the Walton cryptocurrency will slowly increase from here on out. Until the technology is used within actual IoT products, there is no real value to this token other than the typical factors of hype and speculation. The RFID chips to be used in this ecosystem will go into production soon, and they will allow users to pay for, manage, trace, and trade products using the Walton cryptocurrency. This “smart credit system” is certainly something to look forward to.

To some users, it may not be entirely clear whether or not this token is needed. There’s always a question as to whether new blockchain networks need their own currencies. In the case of the Walton cryptocurrency, it remains to be seen how successful it can be. With 100 million WTC to be brought into circulation, the supply is rather limited. Potential future use cases include issuing sub-chains on the network, the upcoming decentralized exchange, and IoT applications in general. Once all of the infrastructure is in place, we will finally be able to determine the real-world value of the Walton cryptocurrency.

Is it Easy to buy the Walton Cryptocurrency?

Sadly, the answer to this question is a resounding “no”. It is easy for the people who already own a popular cryptocurrency such as Bitcoin or Ethereum. For everyone else, it is impossible to buy the Walton cryptocurrency directly, as no exchange outside of South Korea allows for a direct fiat currency conversion. It is possible that the situation will change in the future. With both Bitcoin and Ethereum being the largest WTC trading markets in general, it is evident this is the best route to obtaining this currency.