Matthew Proffitt

Goldman Sachs Granted Patent for SETLCoin Cryptocurrency

  Many industries such as asset or investment fund management and banking are loaded with inefficiency due to their standing as a trusted third party. As a result, cryptocurrency and blockchain projects have emerged to help reduce these inefficiencies. Goldman Sachs has introduced their own blockchain-based settlement network for resolving transactions across many levels of […]

Parity Hacked: More Than 30 Million Dollars Lost

Parity Hacked: More Than 30 Million Dollars Lost

Parity got hacked??   On Wednesday, July 19th, 2017, several Parity multisig (multisignature) addresses were compromised by a group of “MultiSig Blackhat Exploiters.” Since the attack, only 70,000 of the estimated 153,000 stolen ETH has been withdrawn by the blackhat group who was involved.   While the client itself was not directly breached, a contract […]

Bithumb Users Lose Billions of Won in Hack

Bithumb Users Lose Billions of Won in Hack

Bithumb was hacked and people lost billions of won after data was leaked from an employee’s personal computer. No passwords were lost, but more than 30,000 user records (approximately 3% of their user base) had information lost as a result. Email addresses and phone numbers were used in targeted social engineering attacks to extract hundreds of […]

$0.10 ETH Flash Crash Aftermath and Moving Forward

Ether for only $0.10?! Sign me up! This was one side of the sentiment for traders when ETH prices fell sharply on June 21, 2017. The other side of the coin shows a significant concern and significant losses as more than 800 stop-loss orders were liquidated, or triggered, resulting in significant amounts of ETH being […]

Kik Announces Kin: Cryptocurrency on Ethereum

What would you do with a $1 billion valuation? For Kik, the answer is setting up and launching their own cryptocurrency. In 2015, Kik received funding to the tune of $50 million from Tencent Holdings, which put them into the Unicorn Club (inclusive only to startups with a billion dollar valuation or more). Now, in 2017, they […]

Adylkuzz: Monero Mining Botnet Formed Through Leaked NSA Tools

With the shock of several U.K.-based emergency rooms being knocked out of commission still fresh in the minds of citizens worldwide, ransomware continues to grow in popularity both as a household term and as a method of extortion. Some malware has, however, taken to a less confrontational and potentially more lucrative method of attack. The […]

A Primer on Bitcoin Status and Market Volatility

  Bitcoin has grown in value by more than double since the beginning of this year, due in part to heightened interest from investors and recognition from governments. Bitcoin has a very volatile price due to its highly speculated market position. Bitcoin is commonly referred to as a resource like gold and a store of […]

AntBleed: How BitMain Could Have Shut Down More Than Half of Bitcoin

When members of the Bitcoin community found out last month about the anonymous release of AntBleed, an exploit in BitMain miner firmware that allowed for remote unit shutdown, many had the same reaction: they can shut down more than half of the Bitcoin network?! BitMain responded by assuring the community at large that they had never intended […]