Hackers Selling $ 700 Million Wallet Key in Bitcoin
Underground marketplaces offer for sale a floating wallet.dat file, allegedly containing a private key for hacking. The request to hack the wallet and the offer to sell the private key migrated over the network for at least a year.
Earlier this week, Alon Gal, CTO for cybercrime intelligence at Hudson Rock, saw such a proposal on the lively hacker forum RaidCryptocurrency. Earlier this year, a similar announcement was posted on the All Private Keys page - a marketplace where you can buy, download and hack crypto wallets - to gain access to a Bitcoin address.
There is no guarantee that this floating file will actually contain the information needed to crack. The private key for sale may not match the wallet with the address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx. The specified wallet ranks 7th in terms of BTC volume.
How to safely store cryptocurrency
There are many types of crypto wallets today, and each one has its own trade-offs between security and convenience. Online wallet Software that stores payment information and user passwords. There are three main types of online wallets - desktop, online, and mobile. Each offers a different mix of convenience and safety.
Desktop wallets are software that is installed on a computer. They give complete control over assets, but remain vulnerable when connected to the Internet. Malware infection, remote hijacking of your computer, or hard drive failure can lead to disaster. Online wallets are hosted on the website. This makes them convenient as they are accessible from any device with an Internet connection. Downside: private keys are (theoretically) known to the website owner. Mobile app wallets are optimized for retail transactions, i.e. paying for purchases with cryptocurrency. But since the encryption keys are stored on your phone, you can lose all your assets if you lose your device. Local wallet
Another type of wallet that can be downloaded on the official website of the crypto project as a browser extension or an application for stationary and mobile devices. Coins can only be accessed when connected to the network. If the device itself is lost, the assets can be returned to the owner. The mobile version of the local wallet is convenient for permanent access to assets. On a stationary device, it is advised to store cryptocurrency using the Proof of Stake algorithm. However, this requires a complete download of the blockchain of the selected asset. Cold wallets Cold storage is the storage of bitcoins and their private keys offline for greater security. Because private keys are never exposed on the Internet, cold storage can be much more secure than other methods. These include hardware and paper wallets. Hardware wallets are the safest way to store cryptocurrencies. A wallet is a removable flash drive like Trezor and Ledger that generate public and private keys and store them offline. Hacking a wallet requires physical access to it, which minimizes risks.
A paper wallet is a piece of paper on which the owner's private and public keys are printed. A paper wallet is considered one of the best practices for keeping your private key safe. Exchanges Exchanges may seem like a desirable option for those looking to store assets securely as they provide a fast and easy way to transfer cryptocurrency.
Popular centralized exchanges make it easy to access cryptoassets and store them for day-to-day transactions. However, if you are not trading crypto, it is not advisable to leave it in storage on exchanges. Exchanges have been hacked numerous times, are subject to government regulation and technical difficulties, and as such are not safe to store. When such an exchange is closed or hacked, the user loses money. Security basics Regardless of the storage method you choose, remember that whoever controls the private keys controls the coins attached to these keys. Basic safety rules: any device connected to the Internet is vulnerable; strong password is the main protection; backups are better than memory; the seed phrase is the main opportunity for wallet recovery.
Why has cryptocurrency become popular in sports betting?
It's the XXI century and bettors don't get tired of looking for ways to make their game more profitable. One of these ways for advanced players is to bet in cryptocurrency. Why? The editors of the portal named five reasons why cryptocurrencies are gaining more and more popularity. Cryptocurrency. What it is?
At its core, cryptocurrency is electronic (virtual) money that is not backed by anything. They are just numbers that have value. Regular electronic money (for example, on your bank cards) is always backed by real money - until you replenish your account, nothing will work. In the case of cryptocurrency, this is not the case, it is generated immediately, without depositing money. It is simply mathematical code, protected by a special cryptographic technology. The emergence of cryptocurrencies on the market is not limited by anyone, and states and governments play no role here. The users themselves ("mineers") "release" the crypt and anyone can learn how to do it. You can use cryptocurrency in a variety of ways - pay for goods and services, exchange for real money, save and wait for its price rise, speculate, invest and bet on sports in bookmakers. Why cryptocurrency is popular with bettors Cryptocurrencies have long been used by players looking to place bets on sports events.
Reason 1: anonymity Nobody will know your real name or how much money you have. If you bet on real money, then you are forced, according to the law, to provide a lot of data about yourself and, accordingly, pay taxes. You can make payments via cryptocurrency anonymously, however, it is impossible to do this with legal bookmakers. Reason 2: speed and ease of withdrawal Have you tried to withdraw funds from the bookmaker's office? The lion's share of user complaints about bookmakers is related to the payment process. The process is often delayed. In the case of cryptocurrencies, withdrawals are instantaneous and without delay. Reason 3: no withdrawal fees Sometimes there is a commission, but it is so scanty in comparison with the withdrawal of real money that it is simply ridiculous. Reason 4: profitable conversion Cryptocurrency can be easily and simply converted into any currency - even in dollars, even in euros, even in rubles, even in Mongolian tugriks. At the same time, the commission is minimal, and the speed is instant. Reason 5: safety
Bookmakers promise the security of their clients' accounts, but cases when they are hacked do happen. With cryptocurrency, this cannot happen in principle, even theoretically, for the simple reason that there are simply no intermediaries during transactions. And the history of operations in the crypt is stored forever, again, unlike the cases with real currencies. Cons of cryptocurrencies in sports betting We would not be honest with the reader if we did not indicate the other side of the coin. In the case of cryptocurrencies in sports betting, there are some unpleasant moments. Very high volatility is often just crazy. The crypt is constantly getting cheaper and more expensive, and very sharply, which can lead to sad consequences. But, on the other hand, many use this fact to their advantage and, on the contrary, earn money on this. And the second unpleasant moment is the incomprehensible status of the cryptocurrency. The states do not recognize the turnover of the crypt (except for Japan) and there is a possibility that the shop will still be closed. Although, of course, this probability is only theoretical. In part, this also leads to the third disadvantage: not every bookmaker accepts cryptocurrency as a means of making payments. However, there are also those on the international market who specialize purely in betting using cryptocurrencies. And no matter how we look at it, but blockchain and cryptocurrencies have already become a part of our present. So the topic will gradually develop, including in the bookmaker industry.
Bittrex stopped serving users from Ukraine and Belarus
In its statement, the exchange clarified why it would not be able to provide its services in Ukraine, Belarus, Burundi, Mali, Myanmar, Nicaragua and Panama. The official Bittrex Global announcement indicates that the exchange operates under the strictest regulatory rules to date. The laws existing in these jurisdictions do not allow the exchange to continue serving users.
Clients were given 14 days, until September 24, to withdraw funds, and all fiat deposits were discontinued. After these 14 days, all remaining accounts on the platform will be blocked. It is not yet clear whether users will be able to withdraw their funds after the specified period. The platform previously stopped serving users from 31 countries. What is surprising is the termination of services for Ukraine. Most recently, Ukraine was recognized as the best country for the introduction of cryptocurrencies in the world by Chainalysis.
- crypto exchange anonymous
How does Yield Farming work?
Farming is a new way to earn cryptocurrency using a decentralized ecosystem built on Ethereum. How Yield Farming works Last time we discussed what profitable farming is and what liquidity pools are. In this article, we will analyze the basic principles of the DeFi protocols. Productivity is closely related to the automated market maker (AMM) - liquidity providers (LP) and liquidity pools. Liquidity providers place funds in a pool. This pool provides a marketplace where users can borrow or exchange tokens. Users of these platforms pay commissions, which are then paid to liquidity providers based on their share of the liquidity pool. This is the foundation of how AMM works.
Besides fees, another incentive to add funds to the liquidity pool could be the distribution of a new token. The bottom line is that the amount of tokens that providers receive depends on the amount of liquidity they provide to the pool. More often than not, liquidity providers contribute money to the pool in dollar-pegged stablecoins. How is Yield Farming calculated? Typically, the estimated farm returns are calculated on an annualized basis. This is an estimate of the return that an investor can expect over the course of a year. The most commonly used markers are Annual Percentage Rate (APR) and Annual Percentage Yield (APY). The difference between them is that APR does not take into account the effect of addition, but APY does. However, APR and APY can be used interchangeably.
It is worth remembering that APR and APY are only estimates and projections. Even short-term rewards are difficult to accurately measure because profitable farming is a highly competitive and fast-growing market, and rewards are changing rapidly. Due to the rapid development of the sector, calculating in weekly or even daily estimated returns may make more sense. How does DeFi collateral work? Profitable farming requires collateral to cover the loan. Essentially, it acts as insurance for the loan. If the value of the balance falls below the threshold required by the protocol, it can be liquidated. In addition, DeFi platforms usually operate with a concept called over-collateralization. This means that borrowers must lock in more money than they want to borrow to reduce the risk of sharp market crashes. Profitable farming risks The most profitable crop growing strategies are very complex and are only recommended for experienced users. Plus, Yield Farming is more suited to those with the capital to deploy.
Another of the obvious risks of growing crops is bugs in smart contracts. Many protocols are created and developed by small teams with limited budgets. This increases the risk of vulnerability in smart contracts. For example, this week the DeFi protocol bZx was hacked for the third time. Even in the case of larger protocols that are audited by reputable audit firms, vulnerabilities and errors are constantly discovered, and this can lead to the loss of user funds. This must be taken into account when blocking money in a smart contract. One of the biggest advantages of DeFi is also one of the biggest disadvantages. This is the layout idea. DeFi protocols can easily integrate with each other. The entire DeFi ecosystem depends on each of the participants. If even one of them does not work properly, the entire ecosystem may suffer.
MyEtherWallet Launches Its Own Blockchain Explorer
Popular web service MyEtherWallet (MEW) has released a new open source blockchain explorer called EthVM. Users will be able to see their ETH and ERC20 token transactions in one place using the EthVM blockchain browser. It was designed to compete with Etherscan so that developers rely on an open source solution to build interpretations of blockchain data. The developers began work on creating EthVM last year. The beta version of the browser was launched on August 24th. Now MEW has officially launched it and introduced user-friendly features. According to the company, the service is more transparent and efficient compared to Etherscan. The blockchain explorer can be used as a key tool to analyze suspicious illegal activities taking place on the network, read blockchain data, transforming it into graphs and charts. It can also be useful for some cryptocurrency services, Whale Alert Twitter accounts, and high-priced Ethereum transactions.