MapleChange Crypto Exchange Hacked

Ledn, First in Canada to Offer Crypto-backed loans.

As per a post on twitter an exchange MapleChange said – that “due to a bug,” an unnamed group of individuals managed to withdraw funds, adding that it is conducting a “thorough investigation” and will be unable to make refunds.”

After the “investigation,” MapleChange decided that it would be unable to pay its users back, divulging that “the exchange has to close down, unfortunately. This includes all our social media.” While the first part of the statement is logical, the second comment led many to raise their eyebrows, so to speak, in suspicions that this hack isn’t cut and dried.

EurekaPro, First Fiat to Cryptocurrency Exchange in Singapore

Singapore and Thailand are shaping up as welcoming destination towards cryptocurrencies. While the Singapore Monetary Authority partnered with leading brands like Deloitte, NASDAQ, and Anquan to build and launch solutions. Thailand made strong moves in regulating the space, by classifying cryptocurrencies as both securities and currencies. Taking a step further, EurekaPro is all set to be the first fiat-to-cryptocurrency exchange that will launch in Singapore, providing easy access to the cryptocurrency market for both businesses and consumers.

The exchange will allow people to purchase cryptocurrencies with different Asian fiat currencies such as the Singapore dollar, Malaysian ringgit, Indonesian rupiah, and others alike.

[Breaking] $12.5 Million ETH stolen as Bancor gets hacked. We tracked down the wallet that caused the breach.

At 00:00 UTC, Bancor experienced a security breach. A wallet used to upgrade some smart contracts was compromised. This compromised wallet was then used to withdraw ETH from the BNT smart contract in the amount of 24,984 ETH (~$12.5M). The same wallet also stole 229,356,645 NPXS (~$1M) and 3,200,000 BNT (~$1oM).

Once the theft was identified, Bancor was able to freeze the stolen BNT, limiting the damage to the Bancor ecosystem from the theft. It is not possible to freeze the ETH or any other stolen tokens. Primary analysis shows this wallet address and the transaction hash that led to the breach. 22,000 ETH were transferred for a transaction cost of just $0.88 at 61 GWEI. Read the official statement here.

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July 9, 2018

Sudden congestion of Ethereum network causes spike in gas prices

The congestion in the Ethereum network (20x spike in gas price) is caused primarily by a marketing campaign of Fcoin – a new digital assets exchange out of China. Fcoin is asking users to vote for tokens to be listed on theirs exchange. The top 20 tokens will get listed for free on Fcoin exchange. The condition for a vote to be counted is to transfer at least 1 unit of that token into the exchange, but, from a new, unique Ether address. Since top exchanges usually charge a lot for a token to be enlisted, ICO investors of tokens do not mind paying a high premium in gas price(comparatively still very low) for getting their token to the Top 20 free tokens list of Fcoin, hence causing a spike in gas prices.

Crypto Exchanges Being Censored In Iran

Now, firsthand accounts from Tehran imply a quiet push toward stricter censorship is currently underway. (To date, the Rohani administration hasn’t issued any official statements condemning individual cryptocurrency users.) According to a second anonymous source in Iran, however, it appears as though government censors are now examining network traffic via a process called “deep packet inspection”– a tactic Iranian authorities used in the past– to restrict VPN access to crypto platforms.