The Gemini Exchange Will Support Operations with Zcash, Bitcoin Cash and Litecoin

Now the Gemini exchange supports operations with Zcash altcoins as well as with the digital coins Bitcoin Cash and Litecoin. Before the upgrade, only Bitcoin and Ethereum could be purchased inside the exchange.

According to Forbes, depositing of Zcash will be available from this Saturday, the 19th of May. Trading in pairs with dollars will be launched on the 22nd of May. The exchange will be available for 48 US states, as well as Washington D.C., Puerto Rico, Canada, Hong Kong, Singapore, South Korea and the UK.

After announcing that Zcash is now available at Gemini, the coin has grown in price by 40%. At the moment it costs $349 with the previous price of $225. At the time of writing, the cost of Zcash was at around $323.

The President of Gemini Cameron Winklewoss made a comment that the addition of new currencies became possible due to the close cooperation of the exchange with NYDFS:

“Our approval makes Gemini the first licensed Zcash exchange in the world. It also makes the NYSDFS the first regulatory agency in the world to supervise Zcash.”

Zcash is an anonymous currency that supports two addresses: the unshielded one which is open and also the hidden one. The Gemini exchange will accept deposits from two accounts, however, coin withdrawal will be supported only for open addresses.

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The CEO of Circle Believes That a Clearer Policy of the SEC Will Cure the Crypto Industry

The CEO of the project Circle, backed up by the major bank Goldman Sachs, Jeremy Allaire started a thread on Reddit together with his co-workers, where they debated the accomplishments of the company in the recent time, talked about prospects for the future and discussed the overall situation on the crypto market.

According to the representatives of Circle, one of the main issues with crypto in the US is the lack of regulatory framework and, most importantly, the inability of the Securities and Exchange Commission to clearly define cryptocurrencies as belonging to a particular type of assets.

We remind you:

The SEC: Unlike ICO Tokens, Bitcoin and Ethereum Can Not Be Securities

There absolutely needs to be more regulatory clarity to really make this fly — in particular around who can issue these, how they can be stored and transmitted, and what markets can allow their trading. There’s a lot of attention on this and we absolutely expect to see these issues resolved and for far more real world experiments to hit the markets this year,” said Jeremy Allaire.

Also, the CEO of Circle claimed that the US should follow the example of France and have a separate kind of taxation for crypto-to-crypto transactions.

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“51% Attack” Hit Ethereum Classic: A Full Analysis Of The Process

As we have reported earlier, Ethereum Classic was hit by 51% attack, it means that hackers obtained more than 50% of network’s mining hashrate.

A Malicious “51% Attack” Hit Ethereum Classic, The Loss Allegedly Accounts For $460 000

Slowmist, Chinese-based blockchain journal, has released a full report on the attack. The earliest hit occured on January 5, the culprit hacked some exchanges, like Bitrue, Coinbase, Gate.io, however, this was noticed only two days later.

The first action was a transfer of more than 5000 ETC from Binance to the criminal’s address 0x24fdd25367e4a7ae25eef779652d5f1b336e31da. This amount of coins moved to a mining node, that created block 7254355. After that, the hacker deposited 4000 ETC to Bitrue exchange in block 7254430, yet, this transaction vanished from the Ethereum Classic chain. Another 9000 ETC was stolen in the same way. The Bitrue address 0x2c9a81a120d11a4c2db041d4ec377a4c6c401e69 no longer exists, and the official history is clear. Though, Bitrue managed to save some records:

The scheme of the hacker attack is simple:

  • make a deposit;
  • withdraw to a safe address;
  • to double coins – just move the coins to other addresses.

One of the biggests victims is Coinbase exchange. It was estimated that the loss from the attack accounts for $1 million. The above-mentioned report also provides the information about two attacker addresses which were blackmailed by Coinbase later. They are:

– 0x090a4a238db45d9348cb89a356ca5aba89c75256
0x07ebd5b21636f089311b1ae720e3c7df026dfd72

In Twitter, one of users (nickname: @OGBTC) claimed that he knew the culprit personally.

https://twitter.com/OGBTC/status/1082559086070136832

Another user (nickname: @sebseb7) indicated that it was he who knew the hacker.

The “51% Attack” is over for now. All we can do is to estimate the losses and to take measures so that it will not happen again.

The report also stated:

“[W]e recommend that all digital asset services platform block transfers from the above malicious wallet addresses. And strengthen the risk control, maintain a high degree of attention, and be alert to double spend attacks that may erupt at any time.”

We remind you:

The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

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GMO Will Keep On Mining Bitcoins at a Different Location

One of the world’s largest IT companies, Japan-based GMO has published its monthly report regarding its mining activities and the profits coming from them.

We remind you:

Japanese GMO Releases a Monthly Update: What Has Changed As For Mining?

Based on the December’s document, the revenue from mining cryptocurrency has dropped down  significantly which implies that immediate measures must be taken.

One of the biggest pitfalls of mining is the amount of electricity consumed and its high price. Thus, GMO made a decision to relocate its main mining center into a different area, where electricity will cost way less.

We will relocate the mining center to a region that will allow us to secure less expensive power supply,” reads the report.

Moreover, the company refuted all the rumors regarding its alleged plans of giving up mining completely. Since 2017, when GMO first engaged into mining, it has earned massive profits and still sees potential in crypto.

As we may see in the statistical data, the mining reward for Bitcoin increased a lot in the last month of December, whereas Bitcoin Cash suffered a hard fall. But the crash of the crypto market and Bitcoin in particular could not be controlled by GMO and affected its business quite badly, making it “move houses”.

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A Malicious “51% Attack” Hit Ethereum Classic, The Loss Allegedly Accounts For $460 000

An operator of Ethereum Classic mining pool has confirmed that a 51% attack has hit ETC network on January 7. This attack refers to a malicious attack on blockchain when hackers obtained more than 50% of mining hashrate of network.

The hackers got the ability to reorganize blocks and even replace them on blockchain, moreover, the culprits are able to “double spend” coins, i.e. the same coins can be transferred several times.

The rumours that ETC has been experiencing a hacker attack originally appeared on CoinNess, Chinese journal on the 6th of January. The report says that SlowMist, Chinese blockchain security firm, was the first to notice the attack.

The article reads:

“The ETC community followed up on the development of the incident immediately and learned that there is a private mining pool…that achieves more than 50% of the total network hashrate at certain times.”

The spokesman of Ethereum Classic has responded in Twitter, saying the network “operated normally”.

However, in just a few hours, the representative asked all mining pools to “allow a significantly higher confirmation time on withdrawals and deposits (+400).”

Later, without any confirmation or comment, the official account of Ethereum Classic retweeted the report made by Chinese journal.

On January 7, the cryptocurrency exchange Coinbase has posted a report saying that they detected this attack on the 5th of January. Mark Nesbitt, Coinbase Security Engineer, who wrote that report, stated that since the disclosure of malicious attack, there had been 8 chain reorganizations worth approximately $460,000.

Ethereum Classic refuted to the report of Coinbase, claiming that the later did not “connect  with ETC personnel regarding the attack.”

While it is still unknown who was the first to detect the malicious attack and what are the consequences of it, we want to remind you

The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

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Cryptocurrency Prices Today, January 8: Cryptocurrencies Are in the Red Zone After a Period of Growth

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

According to the online platform Coingecko, Bitcoin (BTC) lost 0.2% over the past 24 hours. The price at the time of writing is $3970 per coin.

Most cryptocurrencies are falling in price:

Bitcoin Cash lost 4.42% over the past 24 hours and costs $159 per coin;

Ripple dropped by 2.8% and costs $0.36;

EOS decreased by 0.67%, and its price is $2.83;

Litecoin added 1.25%, and its value is $39;

Cardano lost 3.18%, and its cost is $0.048;

Stellar fell by 1.42% and costs $0.12;

IOTA dropped by 4.61%, and its rate is $0.35;

Dash lost 2.02%, and its price is $83;

Monero became more expensive by 0.63% and costs $54.

Over the past 24 hours, Ethereum lost 3.79%. The exchange rate of the coin is $150.

The total market capitalization rose to $135 billion. Bitcoin accounts for 51.8% of the total volume. In monetary terms, it is $70 billion.

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80% of Galaxy Digital’s Shares: Mike Novogratz Has Faith In Happy Future Of Crypto

The CEO and founder of Galaxy Digital Capital Management, Mike Novogratz, announced that he had purchased more than 7 million shares of his company for CAD 7.42 million, that is nearly 5.5 million dollars. This acquisition made Novogratz the owner of 80% of the stocks of the Galaxy Digital Holdings Ltd.

This action suggests that Novogratz is absolutely confident in happy future of crypto and will not give up on it, even though the second part of 2018 was a heinous period for digital coins.

Let us remind you that Novogratz’s company suffered heavy losses in Q1 of 2018, when crypto started to fall down slowly. However, billionaire investor stated that he was “proud” of the company, as it had overcome many difficulties. His positive way of thinking brought mixed financial results of Q2 and Q3 against the downfall of the cryptocurrencies value.

We also need to recall the predictions of Bitcoin price made by Mike Novogratz. In September, he assured everyone that Bitcoin had reached the “bottom” ($6400)  and there would be no way down later. Later, in November, he stated that the price of the world’s first cryptocurrency would exceed $10 thousand by the end of the year.

Unfortunately, most of his predictions did not come true, but this fact does not kill his hope in bright future of the cryptocurrency.

We remind you

Cryptocurrency Rate Dynamics 2018

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