ETC under attack, a critical bug in Ethereum’s code!

A lot is going on in the crypto world! Hackers carry out an attack on Ethereum Classic and… return stolen money, ETH price goes down 7% after noticing a critical bug, NASA introduce blockchain solutions into air traffic system, Flipside Crypto expects huge price fluctuations in the upcoming months.

Check out our summary of news from the latest days:

Even NASA is about to implement blockchain solutions

Are you tired of constant news about the fact that a known company or the government of a big country introduces blockchain solutions? Well, we are not, especially if we talk about NASA! It plans to implement blockchain technology in order to manage the air traffic system.
The system is about to use Smart Contracts and has been designed for, among other things, private and anonymous communication between aircraft.

Huge fluctuations in cryptocurrency prices soon?

It turns out, according to research made by Flipside Crypto company, that more and more “hodlers” of Bitcoins started trading them, especially at the beginning of 2019. Study refers to people who have been hodling Bitcoins for no more than 2 years. Flipside states that since last summer the amount of active Bitcoin circulation increased by 40%.

It is anticipated that the above facts may lead to large price fluctuations. However, there are also some predictions that the bear market is going to reach its end. One of the optimists is a crypto investment specialist who is using Twitter nickname @galaxybtc. Is Bitcoin investment (and other coins) worth it in 2019?

“The future lies in the study of the past”

We’re approaching the 420 day mark which ended the 2015 bear market and if history repeats itself, we’re moving towards several months of accumulation and a new bull cycle starting mid-late 2019. $BTC #bitcoin pic.twitter.com/VX8ok9oFue

— Galaxy (@galaxybtc) January 14, 2019

Tim Draper earned almost $90 million on Bitcoin investment

In 2014, VC Investor Tim Draper invested in Bitcoins and made about $108M from the initial investment of $19M!

“I’ve been through the ups and downs with bitcoin, and I am as certain as ever that the bitcoin revolution is coming.”, Draper said.

Earlier, Civic CEO Vinny Lingham suggested that cryptocurrency prices may need a lot of time to recover after the decline in the year 2018.

“The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory. Don’t underestimate the power of psychology in free markets,” Lingham stated.

An attack on Ethereum Classic blockchain. The miners have stolen about one million dollars

Ethereum Classic (ETC), which is currently ranked in top 20 at the market capitalization ranking, was subjected to an attack of 51 percent, which enables miners to take control of the blockchain. The ETC network could have lost up to $1.1 million.

The attack was detected by the CoinBase cryptocurrency exchange. Confirmation also came from Bitfly, involved in Ethereum blockchain monitoring:

We can confirm that there was a successful 51% attack on the Ethereum Classic (#ETC) network with multiple 100+ block reorganization. We recommend all services to closely monitored the chain and significantly increase required confirmations.

— Bitfly (@etherchain_org) January 7, 2019

Later, most exchanges suspended ETC withdrawals and payments. So far only Gate.io has informed about the losses (40,000 ETC) and that they will refund the stolen ETC to its users. In total, 219,500 ETCs have been stolen but soon… hackers decided to return Gate.io stolen tokens worth $100,000!

Gate.io suspects that hackers didn’t do it for money, but just to remind people about dangers related to blockchain consensus!

#Crypto exchange https://t.co/CY7vMV29w9 said that $100,000 in #ETC has been returned following a recent hack. If the attacker didn’t run it for profit, he might be a white hat hacker who wanted to remind people of the risks in #blockchain consensus and hashing power security.

— Weiss Ratings (@WeissRatings) January 14, 2019

Sending crypto via Messenger enabled by Lite.IM

Lite.IM was the first to enable sending cryptocurrencies via Facebook Messenger. Currently, four cryptocurrencies are supported: Bitcoin, Ethereum, Litecoin and ZTX (Lite.IM’s own currency). Thanks to this solution, all Facebook and Telegram users are able to send themselves cryptocurrencies directly through these platforms.

https://t.co/uLqw8nekKT is a bot on #FB Messenger that allows users to securely send and receive #crypto. Bot currently supports 4 cryptos: #Bitcoin, #Ethereum, #Litecoin and its own currency, #ZTX. This looks to be better than what FB has in store. We need to look into this.

— Weiss Ratings (@WeissRatings) January 11, 2019

ETH price down by 7%, critical bug delayed hard fork

Ethereum’s Constantinople Hard Fork was expected to go live on January, 16th. However, ChainSecurity, the blockchain security company, which is registered in Zurich, has discovered a critical bug in the Ethereum code. There was a risk that some smart contracts would be susceptible to attacks and users would lose money. For this reason Ethereum hard fork is delayed. ETH price went down by 7% during last 24 hours.

A luxury crypto watch will be made in Switzerland

A. Favre & Fils company from Switzerland plans to introduce to the market a luxury watch with built-in crypto wallet. Its price will be set to between $102,000 and $153,000.

The company ensures that the watch will have solutions for blockchain technology based security.

“We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on.” said Laurent Favre, CEO of A. Favre & Fils.

As we stated, a lot was going on in the crypto world during last days, and we promise it is going to continue happenning on our blog as well! Stay tuned for the next weekly crypto news!

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