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Bitcoin [BTC] and Ethereum [ETH] brokerage Coinmama hacked; 1.3 million users affected |

Bitcoin [btc] and ethereum [eth] brokerage coinmama hacked; 1. 3 million users affected |

Bitcoin [BTC] and Ethereum [ETH] brokerage Coinmama hacked; 1.3 million users affected |

Bitcoin [btc] and ethereum [eth] brokerage coinmama hacked; 1. 3 million users affected |

Coinmama, the Israel-based cryptocurrency brokerage company has suffered a major database breach resulting in 1.3 million users’ data being prone to hackers, as stated in an official announcement on 15 February.

The company which allows users to purchase Bitcoin [BTC] and Ethereum [ETH] via credit cards was one among 24 companies that was attacked as part of a multi-platform hack, which affected 747 million records, in total. Companies in the realm of gaming, media streaming, interior designing, and travel were prone to the larger attack.

According to a statement on the company’s website, information pertaining to 450,000 email addresses was posted on a dark web registry.

The statement from the Coinmama website said:

“Today, February 15, 2019 Coinmama was informed of a list of emails and hashed passwords that were posted on a dark web registry. Our Security Team is investigating, and based on the information at hand, we believe the intrusion is limited to about 450,000 email addresses and hashed passwords of users who registered until August 5th, 2017.
This comes as part of a larger breach affecting 24 companies and a total of 747 million user records.”

Presently, the company is investigating the issue and has since assured people that the hack has not resulted in cryptocurrencies being stolen from users’ wallets.

Coinmama further assured customers that their data, primarily related to their credit card information, has not been compromised. The above statement went on to read,

“As of February 15, 2019, there has been no evidence of this data being used by perpetrators. Given the dated nature of the published data, we have no reason to suspect that any other Coinmama systems are compromised. Coinmama does not store credit card information.”

According to reports, the hacker allegedly goes by the name, ‘Gnosticplayers,’ and put up 127 million stolen user records on Dream Market, a dark web marketplace, from an array of eight different companies. Coinmama features on the list with a database estimated size of around 420,000, with the data selling for the price of 0.3497 BTC.

Coinmama’s security breach is the second hack in the crypto-realm this year, with the first being the New Zealand-based cryptocurrency exchange, Cryptopia. Ethereum wallets worth $23 million in Cryptopia were hacked, with the breach persisting for two weeks after the incident. Only this week did the local authorities give a green light for the exchange to resume operations.

The post Bitcoin [BTC] and Ethereum [ETH] brokerage Coinmama hacked; 1.3 million users affected appeared first on AMBCrypto.

Published at Sun, 17 Feb 2019 11:51:09 +0000

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Bitcoin Will Cost $500,000 By 2030 – Snapchat Investor Liew

bitcoin at $500,000 by 2030 is the latest sky-high prediction to come from high-flying personalities, this time Snapchat’s first investor.


Smith, Liew: Developing Markets Will Drive bitcoin’s Moontrip

In a joint presentation with Blockchain CEO Peter Smith, Jeremy Liew, whose stake in Snapchat is now worth $2 billion, said that external factors driving interest in bitcoin would propel it to unseen heights in the coming decade.

Remittance increases, mobile penetration and political uncertainty top the list.

Peter Smith and Jeremy Liew

Business Insider quoted Liew and Smith as saying:

We believe bitcoin awareness, high liquidity, ease of transport and continued market outperformance as geopolitical risks mount, will make bitcoin a strong contender for investment at a consumer and investor level.

Developing countries represent a significant market for bitcoin, with countries such as Kenya already conducting financial activities via mobile, having skipped banking in what was previously a highly cash-driven economy.

With such mobile monopolies come easier remittances. In Kenya, dedicated startup BitPesa is already cornering both markets with bitcoin.

Enough users, according to Smith and Liew, and the virtual currency’s value will take care of itself.

“Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k,” they said.

bitcoin Slow And Steady In 2017 – $1000 A Piece

Current hurdles facing bitcoin propagation, specifically network capacity and the wary approach taken to related financial instruments by regulators, do not faze Smith in particular.

“The SEC’s ruling wasn’t a surprise to us,” he said about the Winklevoss twins’ rejected Bitcoin ETF.

“We know that getting this sort of approval is going to take (a potentially long) time. In the meantime, bitcoin is already simple to buy and hold and, as the asset continues to mature, we’ll continue to see an increase in the development and deployment of surrounding products.”

Bitcoin Values from April 2016 - April 2017

Nonetheless, in keeping with the current sentiment, both agree on a 2017 bitcoin price of $1000 – slightly less than today’s spot rate.

bitcoin’s Reliability Unrivalled Despite Problems

Other recent price estimates to come from well-known sources include several from Vinny Lingham, who in December forecast $3000 this year.

His optimism came with a hint of caution, however, the entrepreneur adding that too rapid a price increase would be detrimental to the industry and reintroduce volatility and associated lack of trust.

Smith concluded:

bitcoin is incredibly resilient and stable…In fact, the bitcoin Blockchain has operated for 7+ years with no downtime, a feat no other back-end system operating at this scale can claim.

What do you think about Jeremy Liew and Peter Smith’s forecast? Let us know in the comments below!


Images courtesy of Coinbase, Blockchain, Shutterstock

The post Bitcoin Will Cost $500,000 By 2030 – Snapchat Investor Liew appeared first on Bitcoinist.com.

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