A hefty XLM airdrop, Kraken talks security, Bitcoin Cash continues its war, positive news for USD Coin solvency, and another hacker caught, all while Bitcoin seeks to find a price bottom. Catch up on today’s headlines.
Airdrops Reconsidered: Free XLM On Blockchain’s Wallet
News has been buzzing regarding Stellar Lumens and their XLM airdrop. Stellar is giving away $125 million via airdropped XLM tokens. The coins will be given to those who register for the giveaway and hold Blockchain wallets.
Peter Smith, CEO for Blockchain, mentions the XLM airdrop as a way for people to get the community involved and try out the tokens.
However, those registering for the airdrop must provide identity verification to qualify.
Kraken CEO Powell On The Creative Ways Hackers Can Attack Bitcoin Exchanges
Jesse Powell, Kraken exchange CEO, recently jumped on the What Bitcoin Did podcast for an interview with Peter McCormack – the podcast’s host. Online security was a hot topic of discussion. Kraken has not yet seen a hack even after many years of operation.
Powell mentions the importance of staying up to date with security measures.
He explains -“[t]he risk is always there, and there’s just new vulnerabilities emerging as well like Spectre stuff and these supply chain attacks,”…“You get more worried about operational security and the security of your personnel”.
Bitcoin Cash Is Now Two Blockchains – That Might Not Change Anytime Soon
The Bitcoin cash war wages on as Bitcoin ABC and Bitcoin SV both refuse to concede. Yesterday saw major exchange Coinbase confirming that Bitcoin Cash trading would begin again soon. Coinbase plans to give the BCH label to Bitcoin ABC.
Coinbase also noted their intentions to support Bitcoin SV withdrawals, although preparations for that could take a few weeks.
Bitfinex and Poloniex reportedly already employ both Bitcoin ABC and Bitcoin SV trading.
In terms of who’s ahead – “data from Coin Dance indicates that the Bitcoin ABC chain is leading Bitcoin SV both in terms of block count and proof of work”, stated CoinDesk in a recent report.
Circle’s Dollar-Tied Stablecoin Fully Backed, Auditor’s ‘Attestation’ Says
Many different stablecoins have come on the scene over the last couple of months, all vying for attention. According to recent news, Circle showed it had enough USD to effectively back all of its USD Coins (USDC).
“Grant Thornton LLP, the U.S. branch of Grant Thornton International, reported in an attestation dated Nov. 16 that Circle had $127,412,240.89 held in custody accounts as of Oct. 31, 2018, slightly exceeding the 127,408,827 USDC tokens in circulation at the time”, explained CoinDesk today.
Both Coinbase and Circle associate with USDC tokens. Crypto Insider reported last month on the decision for Coinbase to host USDC.
21-Year Old American Purported SIM Swapper Arrested For Alleged Theft Of $1 Mln In Crypto
Nicholas Truglia faced arrest recently for SIM-swapping activities leading to $1 million in stolen crypto funds. SIM-swapping is a way of stealing unsuspecting victims’ cell phone numbers. These numbers are then used to gain access to various online accounts.
Robert Ross, a San Francisco local, reportedly lost $1,000,000 in crypto assets last month – a result of Truglia’s SIM-swapping activities. Truglia allegedly used these methods to hack Ross’ Coinbase wallet, as well as his Gemini account.
Truglia also saw the spotlight two months ago, asserting that he was assaulted by his own friends so they could access his $1.2 million in crypto assets.