Poloniex Users Complain about the Exchange Operating Improperly

The famous cryptocurrency exchange Poloniex was accused of providing bad quality services. According to the unofficial Poloniex community on Reddit, the exchange is not transferring funds to the users` accounts. Whereas Poloniex representatives commented on the situation on Twitter:

However, later the users reported that their customer balances were displayed incorrectly and in particular cases even showed negative amounts which was not true.

Poloniex admitted the fact of a failure in their system and reported that it had already started working to fix it up as quickly as possible. At the same time the exchange also disabled forced liquidation of positions.

Although, recently almost every single cryptocurrency exchange has faced different problems, especially related to client support, users have been complaining about Poloniex technical support failures for almost a year already. Therefore one user says that he has been waiting for a response for as much as 158 days.

Another user claims:

“Been waiting on withdrawal verification for 3 months!! This is crazy!! Do I have to get a lawyer? Can’t get access to my own money!”

In the first quarter of this year Poloniex intends to introduce mandatory account verification system.

How Is a Schoolboy Millionaire Doing: A Story About the Youngest Bitcoin Richer

Erik Finman’s life is like a dream. He is the youngest Bitcoin millionaire in the world. His digital wallet stores more than 400 BTC, which at the rate of $20 thousand per one coin was equal to $8 million.

From a schoolboy to a Bitcoin Millionaire

The story of Erik Finman began in 2011, when he was 12 years old. Young man received from his grandmother $1 thousand for college. However, the guy decided to invest them not in education, but in Bitcoin. He was confident that the digital currency has a great future and therefore he will have it, if he buys BTC. A schoolboy purchased Bitcoin on all the money that his grandmother gave him, with the rate of $12 per one coin.

The first million Erik earned at 15 years. Before that, the future millionaire, argued with his parents that he would not go to college if he earned his first million before the age of 18. When the Bitcoin rate first increased in the summer of 2017, Finman became a millionaire. After that, he went into business.

In 2013, Erik’s capital was valued at more than $100 thousand. This fortune pushed the guy to drop out from high school, in order to start his own business. Moreover, the young man was convinced that the secondary school provides with low-quality education.

“I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.”  – said Erik in CNBC interview.

The young entrepreneur founded his own online educational platform Botangle, which helped the young people to find suitable teachers for class via video chat sessions.

January 2015 has been a remarkable for the guy. He sold Botangle for 300 BTC, whose rate at that time was $ 200 per coin. The buyer also offered the guy $100 thousand in exchange for the business. However, Erik was convinced that it was much more promising to make a deal with cryptocurrency.

“My parents asked ‘Why don’t you take the more cash? But I thought of it more of an investment.” –  Finman explained.

You may ask, what’s the catch? And the catch really is. After all, the guy for $100 thousand could buy 500 BTC instead of 300 BTC. But he chose cryptocurrency, because the official transaction is accompanied by certain difficulties with which, the underage wouldn’t not cope.

Today, December 2018, Erik has about 400 BTC at his disposal, and the Bitcoin rate varies within $4,000 per coin. That is, Erik’s fortune does not exceed $2 million. Despite the fact that experts like Warren Buffett are confident that the cryptocurrency is a bubble that is about to burst, the young man says:

“Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”

Some believe that the young millionaire suffers from paranoid syndrome. After an increase of popularity and capital, Erik is obsessed with the security of his assets. For example, he divides his capital into various super secured wallets.

Bitcoin millionaire lifestyle

Erik bought a house in West Hollywood, where he neighbors with young YouTube stars and IT elites. Well, and as usual it happens, the guy had his head turned by his fortune. The first evidence that Finman “went off the rails” was the reusable rental of Lamborghini sports cars.

The insanity did not last long. During this dizzying period, the guy did not insert the diamond teeth, did not fill the wardrobe to the full with clothing. By the way it is half empty. The millionaire dresses very inconspicuously: T-shirts, shorts and jeans.

Erik hated the school so much, that when he bought a car, it was indicative that he chose a number with his average grade of school certificate – 2.1GPA.

All of Erik’s relatives have a higher education, so they really want their children to get a higher education. But, a bet’s a bet,and besides, the guy is not going to college under any circumstances:

“The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.” – said Erik. “The way the education system is structured now, I wouldn’t recommend it,It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”

The young millionaire eats at Polo Lounge, In-N-Out Burger and other restaurants, depending on his mood. In his free time from work, the guy travels. He likes to have a rest on distant continents, especially Dubai.

Source: https://www.inverse.com

Now Finman is in charge of managing his own and family Bitcoin investments.

The young millionaire’s view of the future of cryptocurrency

The world’s first cryptocurrency by capitalization is not the only digital currency that makes up the capital of the millionaire. Litecoin and Ethereum are also in reserve.

If the young man believes in the future of Bitcoin, the future of Vitalik Buterin’s creation he doubts though. Erik believes that Ethereum’s growth depends on speculation on the crypto market.

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Kraken Is Gathering Investors for Its 4 Billion Private Offering

As it has been reported by Finance Magnates, a major US cryptocurrency exchange Kraken has send out a bunch of emails to the most influential figures in the financial world, inviting them to take part in Kraken’s upcoming private listing.

Kraken is going to put up 4 billion worth of listing shares with a minimum investment amount of 100 thousand dollars. The representatives of the exchange emphasize the fact that Kraken is in no desperate need of money, though the current downward trend at the market makes them take precaution measures.

All the potential investors will have to fill out a survey, afterwards they will be evaluated by Kraken. Only then, they will be able to participate in the offering.

We remind you:

A Cryptocurrency Exchange Kraken Will No Longer Provide Its Services to Residents of Japan

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Cryptocurrency Prices Today, December 12: Cryptocurrencies Are Relatively Stable

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3412 per coin.

Cryptocurrencies are both in the red and in the green zone:

Bitcoin Cash lost 4% over the past 24 hours and costs $95 per coin;

Ripple added 0.52% and costs $0.30;

EOS grew by 0.04%, and its price is $1.91;

Litecoin dropped by 0.91%, and its rate is $24;

Cardano increased by 0.32%, and its value is $0.029;

Stellar lost 2.76% and costs $0.11;

IOTA fell by 7.31%, and its cost is $0.24;

Dash decreased by 4.83%, and its price is $65;

Monero became cheaper by 1.40% and costs $43.

Over the past 24 hours, Ethereum lost 1.59%. The coin rate is $89, according to Coin 360.

The total market capitalization is $109 billion. Bitcoin accounts for 54.9% of the total volume. In monetary terms, it is $60 billion.

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Recommendations Which Will Help to Secure Your Crypto Wallet From Top 7 Popular Ways of Hacking

Cryptocurrency is the cherry on top every single crypto hacker wants “to eat”. Even since the release of the very first cryptocurrency in the world, scammers are conducting active warfare with the access to the digital wallets.

If you are hodler of valuable coins, do everything to increase the security of the wallet. Otherwise, you’ll run the risk of losing your savings and no one can return them.

In order not to get your crypto wallet hacked, The Coin Shark has prepared recommendations which will help to protect it from top 7 popular ways of hacking.

Method #1: IP Spoofing

You might think the the wallet address are created by evil forces 🙂 Because to remember this polysemic chaotic set of symbols is difficult. Therefore, for convenience, many people simple copy the address from a supposedly safe place and paste it into any application, in order to perform the operation.

This trick is used by hackers to create malware for tracking and replacing information. When a person copies the desired address to the clipboard, the virus replace it with the hackers address. After that, the cryptocurrency is transferred to a third-party address – on the criminal’s wallets.

Recommendation: check the inserted address from the clipboard before sending coins.

Method #2: Malware Installation

More dangerous than replacing the address is the theft of personal data from the device. Personal data includes: passwords and logins from accounts, including wallets.

Hacker virus gets on your computer through the fake and even official versions of software products. In the first case, the malware creates a copy of the original code with the virus. In the second, the virus finds a gap, in which it inserts its data package.

The dangerous virus was detected in the programm All-Radio 4.27 Portable, which during the installation downloaded the virus to the system folder «Windows Temp».

Attention! The malware works even when the device is turned off.

Another favourite hacker application is the hijacker – Adobe Flash Player. Who would have thought that a well-known application could poison PC and steal the data from it. When installing, a hacker program behave normally, so it is difficult to distinguish it from the official version. In addition, application periodically receives an update. As usual.

ESET security specialist Lukas Stefanko, has found an interesting pattern: the number of fake application is increasing as well as the rise of crypto market.

Recommendation:

  • Since, such malware is hidden in programs and running in the background, an antivirus is needed, which is capable to detect a hidden threat;
  • Download the programs to your PC only from official developers sites.

Method #3: Infected Expansion for browser

Modern hackers are so incredibly creative and flexible in their activity that they learned to implement the viruses not only in software products. In browser extensions, might be hiding viruses, which track all actions of PC user.

The most popular browser add-on and the best hacker creation of this year is Hola VPN Chrome. The fake version forwards to a phishing page, where hackers get the necessary information for hack the MyEtherWallet.

Despite the warnings of security experts, there are still those who fall for the trick with the compromising of popular browser extensions.

Recommendation:

  • Do not download the unknown extensions into the browser;
  • Use only the latest browser version.

Method #4: Fake Crypto Wallets

This is the most popular method of crypto hackers. The last, let’s say, the best scheme of hackers was the proposal to install the wallet for non-existent token SpriteCoin. The traders were buying into the beautiful stories about the viability and capacity of the coin, despite the fact that any other information about the coin is missing. They, in their innocence, downloaded the wallets along with the encryption virus.

As soon as malware is on the PC – it immediately begins encrypting the hard disk. Files of any kind, become a random set of characters. At the same time, the malware adds an encrypted extension,that blocks the recovery of encrypted data.

From this chaos, for the user of an infected PC, hackers get logins and passwords which are saved in Chrome and Firefox.  

But there is the one option to decrypt the data is to pay the criminal 0.3 Monero. Of course, not everything is so simple. When a victim makes a deal with hackers, she gets a decryption key and a bonus trojan that monitors it via webcam and steal digital certificates. As a result, real wallets and bank accounts are at risk.

Another method of fraud with the digital wallets is registration on fake services. The criminals offer to register on their resource, in order to open a megabon wallet that gives coins for registration. In fact, such resources simply collect the necessary information for hacking wallets and provide nothing. Although, there are those who still give a wallet, to which hackers-developers also have access.

Recommendation:

  • Do not get fooled by “great offers”, always check the information, look for reviews;
  • Never accept the terms of fraudsters;
  • Create a backup copy of your hard drive or just important information from it;
  • Install an effective antivirus,which is able to protect the data in case of an extraordinary threat.

Method #5:  Social Engineering

Namely, with the help of this method, hackers love to steal the private keys from crypto wallets or transfer cryptocurrency to their accounts. Social engineering is very specific in implementation, since it is based on psychological manipulation.

People are much easier “to hack”, than their digital devices. Therefore, your excessive trust may be no less a threat than malware.

The point is, that fraudsters redirects the victim to a fake authorization page. To that end,they send a letter to the e-mail, in  which they warn about the blocking of wallet, if the recipient doesn’t pass the identification. Of course, at the end of the notification there is a link to a phishing page, where the man by innocence enters personal data and as a result loses his digital coins.

Recommendation:

  • If you are lucky enough to receive a fake warning,then examine the sender’s address to pieces, or even better, every word with the help of Google;
  • Send a request to your wallet technical support to make sure that they really sent the warning. Just don’t follow the link with a questionable warning.

Method #6: Angry Bots

The bots greatly simplify the life on the Internet. They benefit from social networking, ending with customer service on web-resources. However, they can also be useful for fraudsters, which is dangerous for cryptocurrency hodlers.

If you tune in to a Slack-bot,he will be the first cause of your nightmares and headaches. This is a cryptocurrency digital thief, and it should be noted, very effective.

They work as follows: they notify the trader about the threat of crypto wallet and redirect it to a phishing resource, where hackers get personal data.

Recommendation:

  • Yes, bots are greatly simplify the networking. However, if you are not sure of its developer, then refrain from installing the program;
  • Work only with paid bots from well-known developers.

Method #7: Dangerous SIM-cards

Remember, SIM and crypto wallet are not the best combo. By losing the SIM card, you lost the data is,at best. And if the card is intended to be taken by fraudsters, then consider that you “freely presented” your coins.

If fraudsters get access to the phone number, they can reset any account passwords, that are registered on the SIM card. That is, if your wallet is attached to a SIM, then there is a huge chance that the criminals will get to your online accounts, if they have not reached them yet.

Attaching to a SIM card is so unreliable, that even two-step verification doesn’t help.

Recommendation:

  • Provide your wallet with the additional protection with applications such as Telegram or Signal. Good News, Traders! Durov messenger in the future will decline the authorization by sms. Google Authenticator has no longer uses this type of verification;
  • Use 2FA-authentication.

We have shared with you the main hackers tricks and ways how to avoid them. Be extremely careful and never forget about the security of your cryptocurrency.   

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Tether Made It into Top-5 Cryptocurrencies

The king of stablecoins Tether (USDT) is now the 5th biggest cryptocurrency, according to the rating of CoinMarketCap. Although the coin did follow the overall downward trend, it is clearly doing better than EOS and Ethereum. The rating now looks like this:


Source: CoinMarketCap

Despite the jump in the rating, things are not particularly amazing for Tether. The coin is quickly losing holders, since its alternatives (like Gemini Dollar) have way more customer-friendlier conditions.

The crypto industry is turning upside down. Given the level of volatility, the top-5 newcomers might or might not stay there. We remind you:

Stellar Has Outrun EOS and Became the 5th Top Cryptocurrency

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Cryptocurrency Prices Today, December 11: Cryptocurrencies Are Once Again in the Red Zone

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 1.8% over the past 24 hours. The price at the time of writing is $3425 per coin.

Cryptocurrencies are also falling in price:

Bitcoin Cash lost 3.52% over the past 24 hours and costs $99 per coin;

Ripple dropped by 1.43% and is $0.30 in value;

EOS minus 3.41%, and its price is $1.91;

Litecoin decreased by 1.50%, and its rate is $24;

Cardano lost 2.49%, and its cost is $0.029;

Stellar fell by 1.29% and costs $0.11;

IOTA added 2.85%, and its value is $0.24;

Dash lost 3.36%, and its price is $68;

Monero became cheaper at 4.77% and costs $43.

Over the past 24 hours, Ethereum lost 1.43%. The coin exchange rate is $90, according to Coin 360.

The total market capitalization is $110 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, it is $60 billion.

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