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Crypto Startup Blockchain Hits 25 Million Wallets

Crypto startup blockchain hits 25 million wallets

Crypto Startup Blockchain Hits 25 Million Wallets


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Blockchain, the UK based provider of cryptocurrency wallets and services, has reported reaching a milestone of 25 million wallets this week, according to Yahoo Finance. Much of the growth has been in the US, where the company has rolled out bitcoin sales in recent months.

Blockchain Registers 25 Millionth Crypto Wallet

The significance of the milestone is tempered by the fact that the 25 million figure exceeds the number of bitcoin addresses that have a positive balance, according to data from BitcoinPrivacy, a website that supports bitcoin address privacy and analyzes bitcoin addresses in the interest of supporting privacy.

The website claims there are currently 22,057,779 bitcoin addresses with a positive balance and 20,812,887 unique wallets with a positive balance. This would indicate that many of Blockchain’s 25 million wallets are empty or that a large number of users hold ether but not bitcoin.

Blockchain’s customer base nevertheless now doubles that of Coinbase, which in November shared a number of 13 million users. Blockchain’s 25 million wallets surpass the customer bases of TD Ameritrade and Charles Schwab (though an individual may have multiple Blockchain wallets).

Announcement Draws Critics

Some Twitter users responded to the announcement by criticizing Blockchain for supporting the SegWit2x hard fork and dragging its feet in adopting SegWit, the bitcoin scaling solution the bitcoin Core development team created.Blockchain in February announced that it was SegWit ready, along with most major bitcoin exchanges and mining pools.

Also read: Blockchain.Info Segwit ready, will Coinbase follow soon?

Blockchain Invests In Growth

Blockchain has been investing in growth, having raised a total of $70 million in funding. The company recently hired Google and Facebook veteran Peter Wilson as is vice president of engineering, Goldman Sachs veteran Breanne Madigan as head of institutional sales, and Bank of America veteran Garrick Hileman as head of research.

Peter Smith, Blockchain CEO, said everyone should have some cryptocurrency in their investment portfolio speaking at Yahoo Finance’s cryptocurrency summit in February.

The firm has come a long way since 2016, when it suffered a DNS attack  that caused the wallet to be taken offline for more than seven hours. Smith said the attack was against the company’s registrar and not the wallet itself. The company’s security systems identified the attack within minutes and regained control of its DNS registrar.

Featured Image from Shutterstock

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Published at Thu, 31 May 2018 23:45:17 +0000

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Global Banking System Under Threat As Hackers Crack NSA, SWIFT Again

Hacker group Shadow Brokers has allegedly proved the US National Security Agency (NSA) hacked SWIFT international banking network.


NSA ‘Documents And Files’ Show SWIFT Transactions ‘Monitored’

In “documents and files” released Friday, Reuters reports, the group said it had evidence the NSA used SWIFT to “monitor money flows among some Middle Eastern and Latin American banks.”

The news marks the second time Shadow Brokers has laid claim to compromising NSA secrets. In August 2016, the group said it had entered an agency affiliate and taken details of cyberweapons, which it planned to auction for one million bitcoins.

If true, it is also a further blow to SWIFT, which last year recorded several high-level security failures worth hundreds of millions of dollars.

“NSA hacked a bunch of banks, oil and investment companies in Palestine, UAE, Kuwait, Qatar, Yemen, more,” Mustafa Al-Bassam, computer science researcher at University College London, commented on the findings.

bitcoin Core Dev: Implications Beyond Spying ‘Burning Question’

Reactions from within the cryptocurrency community meanwhile focussed on the broader implications of Shadow Brokers’ latest attack.

Core developer Wladimir van der Laan wrote on Twitter “(finding) indication of tools for manipulation of banks/markets, more than spying” was now the “burning question.”

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As the traditional financial system comes under increasing threat from cyber criminals, bitcoin could emerge as the go-to method for storing wealth thanks to its decentralized blockchain and SHA 256 encryption, especially when compared to the ‘honeypot’ of banks’ centralized databases.

Microsoft Back In Spying Spotlight

The released data does not only focus on SWIFT, but also on Microsoft. Having been outed as involved in NSA spying activities by Wikileaks’ Vault 7 dump in March, the corporation this time is facing stolen code for compromising Windows, “at least some of which still work.”

In a responsorial statement, Microsoft protested ignorance. No official correspondence regarding the threat had been received.

“Other than reporters, no individual or organization has contacted us in relation to the materials released by Shadow Brokers,” it told Reuters.

Windows 10

Regarding the specifics of the SWIFT hack, it appears Dubai-headquarted service bureau Eastnets could be a major target.

Like Microsoft, the SWIFT intermediary denied any malicious activity had occurred.

“The reports of an alleged hacker-compromised EastNets Service Bureau network is totally false and unfounded,” the BBC quotes a spokesperson as saying. “The EastNets Network Internal Security Unit has run a complete check of its servers and found no hacker compromise or any vulnerabilities.”

NSA spying activities are claimed to have affected not just companies, but politicians and even everyday consumers.

As part of Vault 7, WikiLeaks suggested end-user electronic devices such as smartphones and smart TVs could have become microphones for intelligence officers to listen in on.

Even Donald Trump and his family may have fallen victim.

What do you think about the Shadow Brokers’ latest claims? Let us know in the comments below!


Images courtesy of Swift, Twitter, Shutterstock

The post Global Banking System Under Threat As Hackers Crack NSA, SWIFT Again appeared first on Bitcoinist.com.