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North Korea Reportedly Using Altcoins to Convert $1.5B in Stolen Funds to Cash

North Korea-based cybercriminals are suspected to be using untraceable alternative cryptocurrencies, or altcoins, to convert stolen funds into cash. According to an NK News report, an unpublished United Nations Panel of Experts report states that North Korea-backed hackers have stolen approximately $1.5 billion in cryptocurrencies and they were converting a portion of that amount into cash. Using altcoins, mixers and loosely regulated exchanges The hackers deliberately transact using privacy-focused altcoins as they are hard to trace and track, moving the stolen assets to loosely regulated cryptocurrency exchanges that have minimal…

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Most DeFi Tokens Are Concentrated In Hands of Top 500 Holders

Token supplies for most decentralized finance (DeFi) projects are not widely distributed according to an analysis by the co-founder of DeFi Italy and Head of CryptoLab’s Digital Assets Investments Simone Conti. He compiled data from Defi Pulse and Etherscan that suggests that 90% of tokens for almost all DeFi projects are held by the top 500 addresses. For three of the projects, that figure rises to 99%. According to a graphic shared by Conti, Compound is the ‘most concentrated’ of the Top 10 surveyed projects (by total locked value) with…

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Celebrating Bitcoin Independence Day – Bitcoin Magazine

This article originally appeared in our Weekly Bits newsletter. If you want our news and analysis before anyone else, make sure you subscribe now! In my view, Bitcoin Independence Day is a holiday that says a lot about the BTC community. Its origins are highly technical and difficult to understand, the “independence” it celebrates refers to the developer community overcoming interests from industrialized miners and, ultimately, it’s a chance for Bitcoiners to reflect on the young history of the technology and engage in debate. To celebrate, Bitcoin Magazine hosted a day…

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Is Bitcoin Too Hard To Understand? – Bitcoin Magazine

Is Bitcoin Too Hard To Understand? I’ve spent a huge part of the last three years explaining Bitcoin to general audiences and the most common form of resistance I encounter is: “Bitcoin is too complicated. The masses will never understand it.” It’s a fair argument. Bitcoin is complicated and if you want to reach a competent understanding of the big picture then, at a minimum, you’d better get ready to learn about peer-to-peer networks, cryptography and the history of money. It’s for this reason that I find it bizarre when…

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Casa Launches In-Wallet Purchasing – Bitcoin Magazine

Bitcoin custody solution provider Casa has announced today that it is offering in-wallet bitcoin purchases, allowing Casa App users to forgo exchanges when they add to their HODLings.  In a release shared with Bitcoin Magazine, Casa explained that users can make these purchases using Apple Pay or debit cards, which connect them to retail exchanges through a secure API provided by Wyre. Wyre offers similar services to other projects in the space, such as DropBit. Casa, which positions itself as a particularly security-conscious provider of private key management, noted that…

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OKCoin Awards Marco Falke Bitcoin Developer Grant – Bitcoin Magazine

Cryptocurrency exchange OKCoin announced today that the latest contribution from its Open-Source Developer Grant is going to Marco Falke, who has served as a Bitcoin Core maintainer since 2016 and is one of the most active contributors to Bitcoin’s code. “Marco’s work … focuses on making development more efficient,” Elaine Song, a member of OKCoin’s business operations team who is involved with the grant program, told Bitcoin Magazine. “He is the most active contributor to the Bitcoin code since 2017. He is presently dedicated to the improvement of Bitcoin’s test…

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Honeywell Creates a Blockchain ‘Search Engine’ for Aircraft Parts Data

Honeywell International Inc has created a blockchain-based system to solve the complex documentation and data storage processes of the aerospace industry.  The company announced that its blockchain subsidiary GoDirect Trade will integrate the aircraft record generation process into its blockchain system. Doing so will allow Honeywell customers to search aerospace parts and service data through its interface.  Making data handling more efficient In its present state, data related to aerospace parts and services are scattered across computer systems and hard copies. This results in airline companies and operators sometimes losing…

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Bitcoin Scammers Rebrand Jon Prosser’s YouTube Channel as ‘NASA’

Scammers have conned more YouTube viewers into sending them Bitcoin after hacking several more large verified accounts and posting ‘free giveaway’ videos. According to an Aug. 5 tweet posted by Jon Prosser, his Front Page Tech YouTube channel with 262,000 subscribers was hacked by bad actors who changed the name to “NASA [news]” and began live streaming a fake Bitcoin (BTC) giveaway video featuring SpaceX’s Elon Musk. “Hackers have made $4,000 in Bitcoin so far,” said Prosser. “YouTube tells me I need to fill out a form and wait ‘a…

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Ransomware Gang Steals 10TB of Pics and Data From Canon

Multinational corporation Canon reportedly fell victim to a ransomware attack launched by Maze group against its email and storage services and it’s U.S. website on July 30th. Maze has threatened to leak the pics and data if a crypto ransom is not paid. The image.canon site was out for six days during which it showed updates. It went back into service on August 4th. Canon put out a statement that day about the attack saying there had been no leak of image data, nor thumbnails of the photos stored in the…

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Price Analysis 8/5: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, LINK, CRO

If Bitcoin can reclaim the $12,200 level, several altcoins are likely to resume their uptrend. Square’s Cash App product has generated $875 million in revenue from Bitcoin (BTC) trading in the second quarter of this year. This is a 600% increase over the comparable quarter in the previous year. This shows increased trader interest, which could have been spurred by the cash heavy “government stimulus programs.” The recent breakout of Bitcoin above the $10,000–$10,500 zone could spark further interest among traders. Twitter personality Dave Portnoy has shown interest in knowing…

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