Cryptocurrency exchanges remain the prime target for cyber criminals as the apparent weakest link in the blockchain ecosystem.Since the collapse of MtGox we have seen more and more services go offline temporarily or even completely shut down due to hackers stealing their holdings.This single point of failure should fuel the drive toward completely decentralized exchanges that will theoretically be much more secure than the current exchanges model.The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.The latest victim to suffer from cyber crime is the Hong Kong regulated financial institution for blockchain assets, Gatecoin.On Saturday, the founder and CEO of the firm Aurelien Menant published a statement to investors confirming a breach of Gatecoin’s system resulting in a loss of client deposits.Menant writes: “On Friday night HKT, May 13, we detected some suspicious transactions and immediately suspended our services to investigate, and to prevent any more unauthorized access to the ETH and BTC hot wallets.We have previously communicated the fact that most clients’ crypto-asset funds are stored in multi-signature cold wallets.

However, the malicious external party involved in this breach, managed to alter our system so that ETH and BTC deposit transfers by-passed the multi-sig cold storage and went directly to the hot wallet during the breach period.This means that losses of ETH funds exceed the 5% limit that we imposed on our hot wallets.In total, the hot wallet breach resulted in the loss of ETH 185,000 and BTC 250, which is equivalent to USD 2 million.This represents 15% of total crypto-asset deposits held by Gatecoin.”Gatecoin says that a bespoke platform designed to enable all clients to withdraw their remaining funds in BTC, DAO, DGD, REP, USD, EUR and HKD will be released on May 28, 2016.The date for ETH withdrawals has yet to be confirmed.The firm tries to further assures clients by saying that while 5% of all BTC funds were compromised in the breach, 95% remain stored in multi-sig cold wallets and that all fiat currency funds held in USD, EUR and HKD are secured in segregated client accounts.Furthermore, Gatecoin has already funded the DAO contracts for DAO token holders.Finally the Gatecoin team is said to be working on raising funding to cover the hot wallet losses and to reimburse all affected Bitcoin and Ethereum clients as soon as possible.Back in April Finance Magnates interviewed George Popescu, the Chairman of the Board of Advisors for Gatecoin.

He talked about Gatecoin and blockchain innovation as well as the cross-sections of forex and cryptocurrencies from his unique vantage point on both industries.buy bitcoin with stolen ccAccording to a report from Vx Labs, a vulnerability that allows hackers to steal cryptocurrencies from users has been discovered in popular cross-platform cryptocurrency wallet Jaxx, and has reportedly already led to $400,000 being stolen.bitcoin animated mapThe report, published on Friday, shows its possible for hackers to extract a 12-word backup phrase, copy it, and then use it to restore the user’s wallet with all the private keys in it, so then all that’s left to do is transfer the funds to a wallet the hacker’s wallet.bitcoin crash 6 december

Even when your Jaxx has a security PIN configured, anyone with 20 seconds of (network) access to your PC can extract your 12 word backup phrase and copy it down.comprar acciones bitcoinJaxx does not have to be running for this to happen.mt gox bitcoin closedMonero developer Riccardo “FluffyPony” Spagni tweeted about the report, presumably so something could be done about the vulnerability now that it was public, but nothing was done before users started reporting lost funds, as hackers took advantage of the vulnerability.ethereum price 1000Uh oh, @jaxx_io seeds are stored unencrypted and are trivially exfiltrated off disk even if Jaxx isn't running.https://t.co/FhXkw4OWBk — PASF Riccardo Spagni (@fluffypony) June 10, 2017 An update published on Altcoin Trading shows that users have already reported losing as much as $400,000 in Bitcoin, Ethereum, Ethereum Classic, and Zcash.bitcoin ilk çıkış fiyatı

Users who only use Jaxx on their smartphones are reportedly safe, although those who use desktop versions of the wallet may be at risk.ethereum definedOn Reddit, Jaxx & Decentral CTO Nilang Vyas stated that Jaxx is a hot wallet in which users shouldn’t keep large amounts, and that they believe to have found a balance between easy-of-use, security, and portability.que es un bloque bitcoinThe CTO asked users not to use Jaxx if they are not comfortable with its security model, stating: Please please please, if you do not feel comfortable with our security model do not use our products.We’re are creating for the masses a multi-platform, multi-coin interface for the blockchain ecosystem where users are in full control of their digital lives.According to the post, the team behind Jaxx is “very comfortable” with its security model for hot wallets, and recommends users store large amounts of funds in hardware wallets.

At the end of the post, he pointed out that in the future users will be able to secure their wallets using Trezor, Ledger, and Jaxx hardware wallets.Based on the Nilang’s response, Vx Labs recommends users stay away from Jaxx if it does not fix the vulnerability.Advertise Jobs at BTCManager BITCOIN PRICE: 2,716.42 HIGH: 2,744.94 LOW: 2,663.00 BTC = USD #TRENDING STORIES Next Event Money 20/20 Europe • June 26-28, 2017 European-focused event on Fin-tech, providing an overlook of the disruptive ways in which consumers and businesses manage, spend and borrow… → BTCMANAGER TWITTER: TOTAL TWEETS: 3850 total FOLLOWERS: 16164 official hashtag:#BTCManager BTCMANAGER Mamoru's SafeBike: Recovering Items using Ethereum's Blockchain Loss and recovery of valuable items have always had an inconsistent experience.People must rely on trust that the items are returned, and further trust is needed when people claim they are the original owners of the item in question.

Mamoru takes the lost and found the concept, and removes the necessity of trust.By utilizing the Ethereum blockchain, people will be able to register their belongings using Mamoru and not only proof they are the owner of it but log maintenance information, as well as report the item as stolen if necessary.In fact, Mamoru has a proof of concept that is ready for the market called SafeBike, which involves placing tags within a bike frame.The tags are tamper-resistant, with bike frames having to be destroyed to remove the tag.Users can then scan Mamoru’s device with an app and link the data to the blockchain, ensuring stolen bikes have a better chance of recovery.GPS real-time monitoring can also be enabled if a GPS module is placed onto the linked asset; this is usually done when the item itself generates electricity, as the modules themselves consume power as well.Note tracking concerns that any users may have is in vain, as users can give as little or as much information regarding their identity as they would like; Mamoru is focused on providing a digital identity for items, not people.