The Hackers Stole $152 Thousand from the Users of MyEtherWallet by Breaking into the DNS Server 696

Users of an Ethereum wallet MyEtherWallet became victims of attack of hackers, who, according to general estimates, stole 216 ETH, that is about $152 thousand.

At best, criminals hacked into only one DNS server. As a result, users were redirected to a fake site in order for the hackers to gain access to their keys. Thus, in just a few seconds after logging in, the funds that were stored on wallets were transferred to the account of hackers.

Representatives of MyEtherWallet decided not to hide the incident, but, on the contrary, confirmed the event on their Twitter page:

Based on the data provided by the provider of blockchain information Etherscan, about 179 incoming transactions to the criminals’ wallets amounting to 216 ETH were recorded  during the attack.

The general director of MyEtherWallet Kosala Hemachandra noted that an attack of this magnitude on Google’s public DNS servers was performed by a fairly large team of hackers.

“It is really unfortunate, we live in a world where even the most secured websites are prone to this kind of attacks,” Hemachandra told CoinDesk. “I am sad about this and I hope MEW team will be able to educate users and convince them [to] use hardware wallets and local versions of MEW.”

Earlier the developers of MyEtherWallet denied the fact of hacking of their servers with DNS substitution.

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Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 798

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

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An AT&T User Accused the Company of His Crypto Losses Amounting to $224 Million 602

crypto investor sues at&t

America’s largest mobile services operator AT&T received a lawsuit from one of its customers. Michael Terpin is sure, the company’s non-fulfillment of its duties led to the theft of 224 million dollars in crypto from him.

The plaintiff argues that somebody came to an AT&T office and stole his identity by getting hold of his telephone number which basically gave the criminal full access to all accounts. The fault of AT&T is in the fact that the employees had to demand an identity verification from the person who took the crypto or a secret password. This could have prevented the accident, however, no one even tried to stop the thief.

The theft victim described the situation by saying:

What AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner.

We would like to remind you that Playboy has filed a lawsuit against the crypto firm accusing it of fraud.

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Andreas Antonopoulos Criticized Bitcoin ETF 627

opinion on bitcoin etf

The well-known author of books about Bitcoin and the founder of his own Bitcoin-business Andreas Antonopoulos published a Youtube video where he expressed his opinion about Bitcoin ETF and explained why they cause so much sensation.

I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because ‘too the moon’ and ‘lambos’ and all that. I think it’s a terrible idea. I still think it’s going to happen… I’m actually against ETFs,” he said.

Antonopoulos explained that he understands why many people are so impressed by the idea of Bitcoin ETF:

Everybody’s so excited about ETFs because what we’ve seen in other markets is that when an ETF becomes available—as we saw in gold—the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on. But the other side of it is that there’s always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate—especially [in the case of] large market makers—the prices of commodities, not just in the markets where it’s traded as an ETF but more broadly,” he clarified.


We remind you that the SEC postponed the decision upon Bitcoin ETF until September.

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The Former CEO of Paypal: Bitcoin Is Eventually Going to Go A Whole Lot Closer to Zero 700

bitcoin's future is not bright

The ex director of Paypal Bill Harris is known for his scepticism and harsh comments aimed at Bitcoin. He even called it “the greatest scam in the history”. This time CNBC interviewed Harris to find out whether his opinion on the world’s #1 digital coin has changed.

According to the businessman, Bitcoin is supposed to be “instant, free, scalable, efficient, secure, globally accepted and useful”, and it fails to fulfill all of those characteristics. Harris believes that there is “no value” in BTC.

He has also mentioned that there is no need in solving the problem of Bitcoin scalability, because we don’t need Bitcoin at all.

Look how difficult it is to get money from one country across the border to another. It’s slow, it’s expensive, it’s all those things. Agree. You don’t need Bitcoin, you don’t need XRP, you don’t need any of that to solve that problem. What you need is faster networks.

Unlike many of his colleagues, Bill Harris has way more trust in conventional fiat currencies due to their relative stability which cannot be said about Bitcoin.

In conclusion he summed up his thoughts by saying:

Bitcoin makes no revenue, no profitability.

Frankly speaking, the current CEO of Paypal Dan Schulman agrees with Harris on this issue, although Paypal might change its opinion on BTC if it becomes more stable.

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Bitfi Is Threatening Those Who Were Supposed to Get Paid for Hacking the Wallet 505

bitfi is threatening people

We are all getting sick of the story of John McAfee’s “unhackable” Bitfi, but the situation keeps gaining momentum. Let’s quickly sum up what has happened so far.

– John McAfee launched a bounty campaign for his wallet, promising first $100k, then $250k to a person or people who would break into Bitfi.
– A cyber security company claimed to have done so and was completely ignored by both McAfee and other Bitfi employees.
– After that a new group of researchers tried to hack Bitfi and succeeded as well. This time McAfee reacted by saying that a wallet can be considered hacked only if the hackers obtain coins, and no coins were stolen from Bitfi.

What happened next shocked the crypto community. Bitfi published a tweet which contained direct threats aimed at the researchers participating in their “bounty”. The tweet was deleted shortly afterwards, but most people managed to see it.

The campaign which was supposed to bring recognition and popularity to Bitfi is now only bringing it “black” PR. Or was it a planned action?

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Forbes Published 5 Main Blockchain Tendencies for 2018 782

blockchain trends

Blockchain is one of the most rapidly developing technologies of all times. Its main features (speed and transparency) earned recognition and approval from businesses and companies from all over the world.

Forbes has conducted a research and established 5 major paths that the blockchain is likely to follow this year.

1. Companies actively implement blockchain. For example, we have recently reported about the pilot version of election in Ukraine conducted on blockchain.

2. Implementation of this technology follows a thorough research. With blockchain being fairly new, the more conventional fields that are not related to digital technologies or computer sciences treat it very carefully. For example, the Stanford University created a research center for possible introduction of blockchain in the future.

3. The hype is going to fade. Blockchain has been marketed as a panacea for quite a while. Many people were sure it would help to solve major world problems. However, the results coming from this technology, though being mostly beneficial, are not as phenomenal as everyone thought they would be.

4. New and smaller projects are more likely to implement blockchain since they are more adaptable to changes and upgrades. Huge companies like Amazon find it way more difficult.

5. The personal information on people and other important data will be secured a lot better with the help of blockchain. Scammers never rest, however, blockchain will ensure that they have the hardest time ever hacking and stealing.

Thus, we can definitely see a lot of potential for blockchain. More and more companies choose to implement it. Hopefully, this technology will keep flourishing and bring benefits to those using it.

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