Stablecoin Startup Basis Shuts Down Eight Months after Raising $133 Million
Crypto New Media
Stablecoin Startup Basis Shuts Down Eight Months after Raising $133 Million
Crypto New Media Press
According to an article published by Bloomberg, on December 13, 2018, Basis, a stablecoin startup funded by the likes of Bain Capital Ventures, and Andreessen Horowitz has decided to call it a day due to the persistent ambiguity regarding classification of digital currencies as securities. Crypto Industry in Dire Straits Since November 2018, the cryptocurrency […]
ILCoin: 4 Years of History in the Making Photo: Real ILCoin Dev Team / Facebook As the market is going through difficult times, it’s natural to retrospect. Last January marked 10 years since the first […]
On January 13, an unknown hacker(s) hijacked the DNS server for , a web-based wallet for the Stellar Lumens cryptocurrency, and redirected it to their own server.
Security researcher Kevin Beaumont, who analyzed the code, , “The DNS hijack of Blackwallet injected code, if you had over 20 Lumens it pushes them to a different wallet.” It is estimated that nearly 700,000 Lumens (XLM) were stolen, with a current value of over $400,000.
Warnings and alerts not to log into the BlackWallet site have been sent out by the BlackWallet team and other XLM users via , , , and . Unfortunately, users continued to log in for some time, and thus, saw their funds vanish from their wallets.
Following the of the attacker, it is possible to track the movement of funds from BlackWallet to the Bittrex exchange, where they are likely to convert the funds and cover their tracks. BlackWallet has since messaged in an effort to coordinate with the exchange to block the hacker’s account.
In a on Reddit, the BlackWallet admin is suggesting that people move their funds to a new wallet using the Stellar account viewer. At the time of this writing, the BlackWallet is returning a 404 error. bitcoin Magazine will update this story as it evolves.
TAGZ aims to ‘kill two birds with one stone’ – The Articles – Medium Today cryptocurrencies have become a global phenomenon known to most people. While still somehow geeky and not understood by most people, […]
