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Ledger Launches Bounty Fund Of 10 BTC Following Data Breach

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Ledger Launches Bounty Fund Of 10 BTC Following Shopify-Linked Data Breach

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Hardware wallet producer Ledger has been under heat for the breach of its database which led to the disclosure of over 270,000 of its customers’ data. After an investigation, the company has traced the possible culprit via Shopify, the e-commerce platform responsible for managing Ledger’s hardware wallet sales.

Following the discovery, the company has launched a bounty to fish out the Shopify employee(s) responsible for committing the act. According to reports, Ledger has placed a 10 BTC bounty for anyone who finds those responsible. This is the biggest data breach in the history of the company, revealing the names, emails, and postal addresses of those affected.

The Ledger database was first hacked in July 2020. The number of victims was underestimated as 9,500 at the time and probably the extent of the damage as well. It was in December 2020 that the real gravity of the situation was revealed when it was found that no fewer than 272,000 customers were affected. Shopify later informed Ledger of some of its employees accessing the transaction histories of some merchants, one of which was Ledger. 

As part of actions to ensure there is no recurrence, Ledger announced it is reviewing how it handles data. This includes holding data for no longer than necessary, not displaying personal data in emails, moving needed data in a further segregated environment as soon as possible, and communicating more with customers directly through Ledger Live. The company will also henceforth delete all data with Shopify and move essential data to a safe location off the internet to prevent further access by hackers.

Ledger is one of the largest producers of hardware wallets, also known as cold wallets. The idea is to store cryptocurrencies offline to prevent issues of hacks such as this in order to minimize the loss of digital assets. The company has grown to become the most popular when it comes to hardware wallets.

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The recent hack has however smeared its image and finding the hackers will be a good way to prove to its customers that it is committed to securing their data, thus the huge bounty. It is also working with various law enforcement bodies and blockchain analytics firm Chainalysis to make sure the criminals are unearthed.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/ledger-launches-bounty-fund-of-10-btc-following-data-breach/

Blockchain

Ledger Live Adds Self-Custody Staking for Polkadot (DOT)

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The popular hardware wallet provider, Ledger, will add Polkadot to its wide variety of supported tokens as of March 4th. Additionally, Ledger will also enable users to stake DOT coins directly on the platform, thus increasing the total number of staking options to five.

Ledger Adds Polkadot and DOT Staking

Founded in 2014, Ledger is a digital asset wallet provider describing itself as the “global leader in security and infrastructure solutions for safeguarding critical” cryptocurrencies. In a press release shared with CryptoPotato, the company announced plans to add another blockchain project with its own cryptocurrency to the Ledger ecosystem – Polkadot (DOT).

The statement reads that the wallet provider will support Polkadot in its software application and will add it to Ledger Live – the mobile application working in parallel to the Ledger hardware wallet. Apart from storing crypto assets, Ledger Live also enables users to follow and manage the holdings even if the wallet is nowhere nearby.

Polkadot’s native digital asset – DOT – will become just the fifth coin that Ledger Live users can deploy for staking. According to the announcement, the mobile application “offers the most secure way to manage and stake DOT tokens as the private keys are stored on a dedicated hardware device that is not connected to the Internet.”

The installing process will be simplified as users need to install a designated Polkadot app on their respective devices, create a DOT account on Ledger Live, add the token to the bounded balance, nominate a validator, and confirm the information.

“Polkadot is one of the most promising projects in the entire crypto ecosystem, and we are happy to provide our users with additional options to earn rewards and participate in the expanding Polkadot ecosystem.” – commented Head of Coin Integration at Ledger – Fabrice Dautriat.

Ledger spokesperson told CryptoPotato that the integration will be fully live starting from March 4th, 2021.

DOT Price and Staking Stats

DOT has been among the best price performers as of late. The asset entered the new year at about $8 but has taken full advantage of the bullish developments in the following months and even breached $40 for a new all-time high.

Despite retracing slightly during last week’s market crash, DOT is still 350% up YTD as it currently hovers above $36.

Additionally, the token is the second-most utilized coin for staking, per data from stakingrewards.com. With over $24 billion worth locked for staking, DOT trails only to Cardano (ADA) by $4 billion. About 64% of all DOT in circulation has been staked as of writing these lines.

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Source: https://cryptopotato.com/ledger-live-adds-self-custody-staking-for-polkadot-dot/

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Blockchain

Change of Heart: Shark Tank’s Kevin O’Leary Joins the Bitcoin Club With a 3% Allocation

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The growing in popularity “I changed my mind on bitcoin” club has another prominent representative. The Canadian businessman and star of Shark Tank, Kevin O’Leary, went from calling BTC garbage to allocating 3% of his portfolio in the asset.

O’Leary Has Bought Bitcoin

Born in Montreal, Canada, O’Leary is a popular businessman, author and is perhaps best known for his role in the reality TV show – Shark Tank. Also referred to as Mr. Wonderful, O’Leary recently announced his entrance into the bitcoin ecosystem.

Apart from allocating 3% of his portfolio in the primary cryptocurrency, the businessman also pledged to invest in BTC miners using clean energy to avoid “blood coins.”

Furthermore, O’Leary said that all companies he had invested in are currently examining the possibility of putting bitcoin on their balance sheets. He attributed this to “changes in the regulatory environment,” but he failed to provide details regarding their precise nature.

Another Change of Heart Moment

Prior to his 3% BTC allocation, O’Leary rarely had anything positive to say about the cryptocurrency. Just the opposite, he was openly bashing it.

Back in 2019 he O’Leary was predominantly negative on this “digital game” called bitcoin, which was “worthless” to him. He went even further by naming it a “useless currency” and “garbage because you can’t get in and out of it in large amounts.”

“Let’s say you want to buy a piece of real estate for $10 million in Switzerland. They want a guarantee that the value comes back to the US currency. You have to somehow hedge the risk of bitcoin. That means it’s not a real currency. That means the receiver is not willing to take the risk of the volatility it has. It’s worthless.”

Fast-forward to February 2021, he was still neglectful of BTC’s potential. O’Leary said he’s not against it and actually respected the asset but dismissed any chances of putting a lot of capital in it.

“No, I don’t want to own something that goes up and down 30% in a day or a week.” – O’Leary noted and added that bitcoin is “not backed by anything. It’s just backed by your faith.”

However, it seems now that this “worthless, not backed by anything digital game” has earned at least 3% of his investment portfolio.

With this change of heart, O’Leary has joined a prominent club with several similar examples. Names such as MicroStrategy’s Michael Saylor, CNBC’s Jim Cramer, and the former Fed Governor – Kevin Warsh.

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Source: https://cryptopotato.com/change-of-heart-shark-tanks-kevin-oleary-joins-the-bitcoin-club-with-a-3-allocation/

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Blockchain

FreeBitco.in purchases 3.75 billion FUN Tokens in a multi-million dollar deal

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Through a series of ventures, FreeBitco.in seeks to promote the mass adoption and utilization of FUN Token in the iGaming and Gaming spaces.

FreeBitco.in, one of the biggest Bitcoin iGaming websites in the world, has acquired the majority of FunFair’s remaining cold storage of FUN tokens, the native cryptocurrency of the FunFair gaming ecosystem. The cold storage holds 4.45 billion FUN Tokens and FreeBitco.in has acquired 3.75 billion tokens.

Through this acquisition, FreeBitco.in plans to invest in the token’s long-term development.

“Since 2013, FreeBitco.in’s goal has always been to provide online gaming enthusiasts with a frictionless, transparent, and truly fair experience,” said a statement by FreeBitco.in. “There’s no better fit than the FUN token to help us significantly enhance our efforts.”

The FUN Token

Since 2017, FunFair Technologies has been striving to deliver a guaranteed fair, decentralized gaming experience to the mass market through blockchain technology utilizing the FUN token.

FunFair team said in a statement: 

Despite several industry firsts and significant milestones in proving that use case, it has recently become apparent that FreeBitco.in has developed a different and superior use case for the FUN token.

This announcement refers to FreeBitco.in’s Premium Membership Program; a feature that incentivizes FreeBitco.in users to buy and hold FUN tokens for significant benefits. This activity has driven considerable volume into the token economy without the burden of significant on-chain transactions. According to the statement: 

There’s no doubt that FreeBitco.in’s customers are currently generating the bulk of FUN token commercial activity rather than FunFair’s customers.

With this in mind and for the token economy to maintain its recent success, FunFair has agreed to sell the majority of their FUN token holdings to FreeBitco.in.

FUN is an ERC20 token listed on major exchanges Binance, BitFinex, HitBTC, Changelly, and OKEx, as well as decentralized exchanges like Uniswap.

FreeBitco.in’s Vision for FUN

FreeBitco.in aspires to grow the FUN token as an independent entity through a series of upcoming projects.

Our sole objective, as of now, is to work to increase FUN’s utility and value,” the FreeBitco.in. team said. “We’re thoroughly committed to its long-term growth.

Accordingly, FreeBitco.in is preparing to undertake the following initiatives:

  • Strategic Burning of Tokens: FreeBitco.in plans to invest a substantial portion of its bottom line into strategically acquiring and burning FUN tokens to elevate their value over time.
  • Improving Liquidity: FreeBitco.in is working on increasing FUN’s liquidity across all markets, thus making it easily accessible and tradeable. This is evidenced by a cumulative influx of $3 million in the FUN/ETH and FUN/USDC trading pairs on Uniswap recently, and other exchanges are set to follow.
  • New Blockchain: Based on the Ethereum blockchain, FUN prided itself on being fast, open, and secure. However, the growth of DeFi on Ethereum has been pushing gas prices up for many months, making the adoption of FUN too expensive for users. FreeBitco.in is actively exploring opportunities to port the FUN Token to a new blockchain that is faster and cheaper.
  • Dedicated Wallet: FreeBitco.in is working on creating a dedicated wallet for FUN users that can operate seamlessly between different iGaming platforms. The wallet would also help users convert their FUN tokens into multiple crypto and fiat currencies.
  • Proactive Development: FreeBitco.in is assembling a development team to build innovative, consumer-facing apps based around the FUN token, thus creating more use cases, strengthening utility, and promoting adoption.
  • Creating Effective Partnerships: FreeBitco.in seeks to build productive partnerships and affiliations with other iGaming entities to promote FUN’s identity as a transactional currency in online gambling.

Note: This is not a partnership between the two organizations, namely FreeBitco.in and FunFair Technologies. The aforementioned acquisition and venture is at the sole discretion of FreeBitco.in.

About FreeBitco.in

Founded in 2013, FreeBitco.in is one of the largest crypto-gaming websites and the seventh-largest online casino in the world (Source: SimilarWeb). FreeBitco.in was created to promote Bitcoin’s utility and facilitate its adoption. However, it has grown by leaps and bounds since then.

Powered by a fully automated, proprietary tech-stack, FreeBitco.in features a simple but powerful HI-LO Dice Game supplemented by contests, rewards, jackpots, and a popular Lamborghini giveaway.

With 41 million users, 52 million monthly visits, and a $600 million-per-annum wagering volume, its influence on the Bitcoin community is significant.

Useful Links

Official FUN Token Website: https://funtoken.io

Official FreeBitco.in Website: https://freebitco.in

Twitter: https://twitter.com/FUNtoken_io

Telegram Channel: https://t.me/officialFUNToken_channel

Telegram Chat: https://t.me/officialFUNToken

Reddit: https://www.reddit.com/user/FUN_token

Discord: https://discord.gg/e7vfgKbEKU

Disclaimer: This article is a paid post and must not be considered as news/advice. 


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Source: https://ambcrypto.com/freebitco-in-purchases-3-75-billion-fun-tokens-in-a-multi-million-dollar-deal

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