Crypto exchange Upbit confirms theft of 342,000 ETH...
One week in review:
Nov. 25–Dec. 1 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1 Crypto exchange Upbit confirms theft of 342,000 ETH | | | Another week, another hack that has left us all with a distinct sense of déjà vu. On Wednesday, major South Korean crypto exchange Upbit confirmed that a whopping 342,000 Ether had been stolen from its hot wallet — funds worth an estimated $50 million at the time of writing. The company stopped short of describing the incident as a hack and said that all remaining crypto assets have since been moved into cold storage. In recent days, rumors have been swirling that the incident could have been an inside job. | | #2 China: Five crypto exchanges halt or shut services amid perceived crackdown | | | It's been a bad month for Chinese crypto exchanges. In November, at least five platforms have either decided to halt operations temporarily or close up shop altogether. All of this comes amid fears that Beijing is doubling down on its anti-crypto stance. | | #3 Africa "will define" the future of Bitcoin, Twitter CEO Jack Dorsey says | | | After completing a tour of the continent, with stops in Nigeria and Ghana, Jack Dorsey has boldly predicted that "Africa will define the future" — especially when it comes to Bitcoin. The renowned tech entrepreneur, who is the brains behind Twitter and Square, is a huge supporter of crypto. Dorsey's enthusiasm comes as interest in BTC continues to build — especially in Lagos, Nigeria's most populous city. | | #4. Prediction of the Week PlanB: "Rare opportunity" can see Bitcoin price hit $10,000 in December | | | PlanB has suggested that BTC could return to five-figure territory before 2020 — a surge that would involve the world's most dominant cryptocurrency rising by more than a third. Before you raise your eyebrows and dismiss this as an outlandish prediction, it's worth remembering that BTC soared by a whopping 42% in a single day back in October — the second-biggest daily gain of all time. | | #5. FUD of the Week Report: Cybercriminals are using YouTube to install cryptojacking malware | | | New research suggests cybercriminals have been distributing a Monero crypto-mining module via the popular video-sharing website YouTube. According to Eset, a major antivirus software supplier, the malware is a marked departure from the click fraud, ad injection and password-stealing attacks that Stantinko botnet operators were known for before. It is believed that approximately 500,000 devices have been infected to date. | | #6. FUD of the Week Bitcoin life lesson: User forgets "brain wallet" worth $13 million | | | Now here's a FUD that'll make you wince. A Bitcoin investor has claimed to have lost access to funds worth almost $13 million because of a failure to record the passphrase for its respective wallet. The Reddit user said a balance of 1,800 BTC is out of reach.
The investor was apparently using something known as a "brain wallet" — a form of Bitcoin storage that often does away with physical and digital records of passphrases. Instead, users create a password that is easy to recall but difficult to crack.
As compelling a story as it might be, some are skeptical as to whether it's actually true. One moderator, who has marked the tale as likely fake, said: "Why is it called a 'brain' wallet when anyone with an actual brain would never do something so stupid? The story is so dumb I assume it is not real." | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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