Cryptocurrency

Database on Ledger Containing Personal Information of More Than 270,000 Clients Released on RaidForums

A data breach happened in July 2020 on Ledger, where the personal information of more than 270000 customers was leaked. Yesterday, a hacker released the data on RaidForums. 

A news article on Theblockcrypto a database on Ledger containing the personal information of more than 270000 customers, was released on RaidForums. RaidForums is a forum where marketers can share details of hacked data for buyers and sellers. 

The Block reviewed the database and found out that the information of the clients, including physical address, phone number, as well as email was present. This is after a leak that occurred in July 2020, where the emails of more than 1 million Ledger consumers were out in the open. 

Jameson Lopp Cypherpunk · Co-founder & CTO, @CasaHODL & @BTC Times Editor, and @INXLimited Advisor had this to tweet on the leak.

Ledger had accepted in the month of July 2020 that they had a leak where the details of more than 9,500 customers had their information compromised. The company said that they anticipate more details of clients may have been leaked in July. 

A news post on Hackread too claimed the same thing. They checked the logs of a third-party app where it showed that details of 9500 clients were impacted. Ledger has already taken security measures to see that these incidents do not keep occurring. 

The early signs in the hacking technique highlight the data taken from the attack in July. The company also said that they regret this situation, causing massive inconvenience to their customers, and they would do everything to avoid situations like the same. 

Readers may want to note that the data compromise was known only after a bug bounty reported the instance to the company. The company took evasive action immediately. Sadly, they saw the hack occur again on the 25th of July 2020, where it further surged. 

Clients who are using Ledger may want to remain cautious of the use and avoid using emails or phone numbers that are sent from hackers. They are most likely sent from hackers who want to steal your information, so avoid clicking or responding to the phone number or email.

Crypto Hardware Wallet Ledger’s Asian Expansion Plans

Ledger known for protecting Cryptocurrencies with their popular multi currency hardware wallets is looking at expanding in Asia. It plans to utilize its new branch in the Asian busy town of Hong Kong, where Benjamin Soong is heading the Asian Pacific region.

In an exclusive interview with EJ Insight, Soong highlighted the severals ways Ledger will be looking out to expand in Asia.

Ledger’s Current Business Model

Ledger’s primary objective is to secure Cryptocurrencies in its advanced wallets which include the Nano and Nano S. Currently it ships to 165 countries, with a total sale of 1.5 million so far, with a whopping US$46 million in revenue recorded in 2017.

The latest offering is the Ledger Vault targetted towards the institutions such as hedge funds, crypto funds, exchanges, banks and custodians.

Ledger also is focusing on the Internet of Things in relation to security points.

The Asian Crypto Market

In the interview Soong, spoke about the importance of China and Korea in terms of Cryptocurrency markets. He touched on some interesting statistics such as 70% of the biggest Cryptocurrency exchanges being based in the Asia Pacific region with the right mix of retail and institutional investors.

Soong specified that exchanges are what needs to be protected at the present moment. It is likely that Ledger could partner up with exchanges to provide a secure Cryptocurrency wallet given that Cryptocurrency exchanges are being targetted by hackers.

Questions still remain in terms of Cryptocurrencies in the two most populated countries in the world – China and India. While China is over-regulated, the scenario could change soon given that certain areas have showcased their Blockchain and Crypto presence. As for India, a number of Cryptocurrency enthusiasts such as Blockchained India are doing all they can to help gain a more favourable legal environment for the digital assets.

With companies like Ledger displaying their active interest in Asia, it showcases the rapid developments taking place for Blockchain and Cryptocurrency in the region.

The Raven’s Dispatch – July 13, 2018 – $25 million stolen from Decentralized Exchange, Bancor

$25 million stolen from Decentralized Exchange Bancor

Hack Hacking Haxxors

Another day, another hack. It seems like no exchange is safe out there, not even the decentralized type. If you recall DEX Exchanges were supposed to offer greater security due to their decentralized set up. Guess the jury is still out on this one. Whatever your stance so many hackings have taken place it makes you wonder if these exchanges are doing too little to tighten security. Bancor was hacked, again, for $13 million after one of the their upgrade wallets was compromised. The vast majority stolen was Ethereum.

After raising $150 million in their ICO, you would think Bancor would have invested some of that in their security procedures. Read more about it below. Let’s get this dispatch rocking! (I’m trying new lead-ins, ok. Cut me some slack)

The top 5 looks like it’s locked in for the near future. The overall cryptocurrency market dropped week to week from $267bln to $249bln representing a 6% decrease in the past seven days. No drastic moves or bart patters this week even with the Bancor hacking news AND the mining hack. It’s been a rather poor week in the news cycle for our beloved crypto.

Livecoinwatch.com Raven's Dispatch

Bitcoin (BTC): BTC struggled this week and nestled into the $6,200 support, for the time being. 2018 sucks y’all. This represents a drop of 4%, not bad considering the swings many crypto enthusiasts  are accustomed to.

Ethereum (ETH): It’s getting boring watching ETH do what BTC does. Week to week ETH sank 6% $439 as of this post. Ethereum continues to be the poster boy for a gre place to develop DAPPs but other chains and projects are catching up. With Caspers successful release to update Herrumbres economic consensus protocol, things seem pretty hum-drum here.

DASH (DASH): Dashcoin cryptocurrency was created on 18 January 2014 by its developer Evan Duffield and was originally released as XCoin (XCO).  In February of the same year (2014), the name was changed to “Darkcoin.” Moreover, on 25 March 2015, Darkcoin was rebranded as simply “Dash”. Quite the saga, huh?

As it stands, Dash users can now opt for full privacy in their transactions and remain completely anonymous, thanks to Evan Duffield. Dash has three main features: speed of transactions, masternodes and private send. As you can see in 2017 DASH reached all time hish peaking at $1,600 per DASH but like the entire crypto market has retraced to $226 as of this post. Can you imagine how much the Masternode owners must have raked in during that run? Well played to those that got in early and believed in the project.

If you want to know more about DASH check out our guide!

Dashcoin Lifetime

WHAT’S NEW AT CRYPTO IS COMING

Win a FREE copy of ‘An Altcoin Traders Handbook’ – We are giving away 3 copies of Nik’s popular book  ‘An Altcoin Traders Handbook‘. How do you enter to win? Sign up for our newsletter and we will select three winner on Monday, July 16th, 2018. Do it!

Etherpoly.io is launching a new decentralized Ethereum game – Etherpoly.io (OLY) is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities.  It is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities. Read on for more details!

Sleeping Giants of Crypto – While the January crash wiped a huge chunk of market cap off the map with aftershocks rippling through the marketplace ever since, there are a number of projects that have weathered the storm well and continue to show promise for the future. Is your favorite project on the list?

What Are Exchange Tokens? – A recent trend in the crypto space has seen exchanges listing their own custom cryptocurrency tokens, generally offering a trade fee discount when the tokens are used. Binance is often credited with kickstarting the trend into mainstream use with the highly successful BNB token, and other exchanges have followed suit. So how do all these tokens measure up, and what do they do exactly?

New Github Repository Catalogs Physical Bitcoin Attacks – Cryptocurrency hacks have always been a thorn in the side of crypto enthusiasts. It seems like we can’t go a few months without a major theft taking place.  Jameson Lopp, created an open source repository to catalog and list all known physical bitcoin attacks/thefts. Check it out, it’s fascinating stuff. And a lesson. Because if anything we here at Crypto is Coming want to share teachable mome….lol I can’t finish that.

Vitalik Buterin Says Centralized Exchanges Can Burn In Hell – Sassy. We love it. Outspoken Ethereum co-founder, Vitalik Buterin, has hit out at centralized exchanges, saying that he hopes they “burn in hell as much as possible” while speaking to John Evans of TechCrunch. He has mirrored the opinions of divisive self-proclaimed voice of cryptocurrency, John McAfee.

Check our Crypto Swag store on Teespring – We’ve got new designs, Go, consume, support Crypto is Coming. Kisses

Visualizing the ICO Explosion – The ICO market exploded in 2017. We saw Billions of dollars pour into crypto through this new crowdsourcing vehicle. Take a look at the infographics below from the crew at howmuch.net.

Litecoin Foundation and TokenPay buy stake in WEG Bank AG – Litecoin founder, Charlie Lee, announced via twitter this morning that the Litecoin Foundation and Token Pay have entered into a partnership to buy a stake in German bank, WEG Bank AG. IN acquiring this stake, they hope to work on consumer driven cryptocurrency solutions for Litecoin and other cryptos.

Opera Launching A Browser With Built-In Crypto Wallet Functionality – Opera has announced that it is launching a new Android based browser that will incorporate a cryptocurrency wallet directly in the software. The browser will support the Ethereum Web3 API, and this function means that users will no longer have to open a separate browser to send and receive payments or check their crypto balance.

What Happens When The Bitcoin Reaches 21 Million And Mining Reward Runs Out? – Bitcoin transactions can only be verified by mining, a process in which powerful computers solve complex algorithms in order to add new blocks of verified transactions to the blockchain. What happens when there is no more reward? Check out our latest piece from Conor.

From Nick Szabo to Naval: The best crypto twitter threads of the week – We all know Cryptocurrencies are at the forefront of innovation in finance and tech. But the people involved in crypto are also leading the way, fighting in the intellectual battle ground that is crypto twitter to see which ideas gain strength and which die off.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Another hack rocks cryptocurrency trading: Bancor loses $13.5 million – The alleged hack has raised questions over the validity of the start-up’s “decentralized” system. This week, the start-up said that a wallet being used to “upgrade” smart contracts was compromised. This wallet was then used to withdraw $12.5 million in Ethereum (ETH), alongside $1 million in Pundi X (NPXS) and $10 million in Bancor Network Tokens (BNT).

Binance to Record $1 Billion Profit in 2018, Surpassing Major Banks – The cryptocurrency market has dropped by over 70% since the start of the year, but the world’s largest crypto exchange is still expected to rake in a hefty profit.

Ledger launches Ledger Live, the all-in-one companion app to your Ledger device – Ledger Live is a new all-in-one companion application for your Ledger device that runs on Windows, Mac and Linux. We’ve built Ledger Live from the ground-up to deliver a feature-packed, yet user-friendly experience for both power users and newbies.

Bank of Korea Says Cryptocurrency Poses Little Risk to Domestic Market – The Bank of Korea (BOK) recently announced that cryptocurrencies pose little risk to South Korea’s domestic market, Cointelegraph reported. The analysis comes in the wake of the institution’s publication of a report covering the influence of virtual currencies in the country’s financial industry.

Malta is Creating a Decentralized Bank with the Help of Binance – Binance is seeking to use Malta as the base for a new bank that will be owned entirely by cryptocurrency investors–the world’s “first decentralized, completely community-owned bank,” according to a Bloomberg report.

Robinhood Adds Bitcoin Cash & Litecoin Trading, Will Support Crypto Transfers – All aboard! Rapidly-expanding fintech unicorn Robinhood has added bitcoin cash and litecoin to the growing stable of cryptocurrencies that users can trade on the popular stock trading app.

100 Merchants Invited to Risk-Free Trial of Lightning Network – Did we ever mention we love of chain solutions? A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network.

Crypto is not a Bubble, Says Bernstein Analyst – Bitcoin is not a classic bubble, but still be ‘suspicious,’ says investing expert William Bernstein. Thanks the for advice, Will.

Thank you for joining us for this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

Follow us on twitter @cryptoiscomin

Like us on Facebook

Visit our crypto swag store on Teespring

Kermit

Crypto Wallets: What are they and how do I use them?

As you have no doubt realized by now cryptocurrencies are not stored or maintained like your normal fiat (cash) currencies. No banks involved. Cryptocurrencies are stored on secure digital wallets that store public and private keys and interact with various blockchains. That means if you want use Bitcoin or any other cryptocurrency you will need a wallet.

These wallets allow you to store, send and receive digital currencies such as Bitcoin, Litecoin, or Ripple. That may sounds easy enough, “I’ll just download a wallet and I’m in the game.” It’s not that easy, so I’m here to help you understand the differences and even compare a few.

Let us start with how a wallet works:

There are lots of misconception and misunderstanding about cryptocurrency wallets even though their use is prevalent. Crypto wallets are similar to your home safe. You have a key (or code), and you had better not lose that key as you could lose ownership of your valuables. Instead of a physical box crypto wallets are software programs that store your public and private keys. See, similar. Don’t lose your effing key! 😉

Private keys are essential. If you do not ‘own’ your private key, you technically do not control your cryptocurrency. Again…Don’t lose or share your key! Your private key looks something like this (This is not a valid key):

7297b646f941171d524f1d565b8c8c0e3f77042a555b06f12b67a2b5f6b11b

So do you remember we said wallets store, send and receive digital currencies, right? When a person sends you Ethereum (or whatever) you will need your private key to access the funds transferred and access your assets. This movement of assets from wallet to wallet, or wallet to cryptocurrency exchange is recorded on the blockchain and your wallet balance will reflect that.

How do you send and recieve?
Your wallet will have a public and private key/address. The public key is used to send and receive cryptocurrency and can be disseminated with others. If you wish to send cryptocurrency from your wallet to another address, or exchange, you will have to be provided an address to send to. It is very important you copy and paste the address correctly. Verify before you send.

Your private key is used with the public key to create a signature that cannot be forged. Your private kry must be kept a secret. Varys like secret. Eunuch like secret.

What type of cryptocurrency wallets are there?

You can download a wallet to your smartphone, you can create one online via a web browser, you can download a wallet and store it on your PC or you can buy a physical wallet. Wallets all come down to three categories: hardware, software or paper.

  • Mobile: A mobile wallet will run on your smartphone. Much like your PC security is high as only you control your smartphone. Same setbacks apply though: Hacked, virus or a stolen phone compromises your wallet. MyCelium is arguably one of the best mobile crypto wallets
  • Desktop: These wallets are downloaded and installed on your PC or laptop. Because the wallet installed on your pc or laptop, it can only be accessed from them. Desktop wallets offer a high level of security but if your computer gets a virus or is hacked your wallet could be compromised too. Bitcoin core is an example of a Bitcoin desktop wallet.
  • Online: Wallets that are on the cloud, web based. These are by far the most convenient wallets as it gives you the ability to access your funds it from anywhere. There are two main drawbacks to online wallets. If you recall from the beginning of this article I said “If you do not ‘own’ your private key, you technically do not control your cryptocurrency”?Online wallets store your keys online and are therefore not controlled by you. This makes them vulnerable to attach and theft. *IMPORTANT: Be certain to double check the URL for your online wallet (bookmark it) before entering passwords. There are a lot of phishing scams out there.
  • Hardware: By far the most secure method of storing your crypto loot. In this case your private keys are stored on physical device, not unlike a USB drive. While your HW wallet has to connect online to send and receive currency, they are stored offline which provide added security.***Important: We recommend you always purchase your hardware wallet directly from the manufacturer. Better to be safe than sorry. Also always record your written backups of your keys.
  • Paper: A paper wallet is a piece of paper that contains copies of the public and private keys that make up a wallet. Will generally also have a QR code for a quick scan. The benefit of a paper wallet? Simple: The keys are not stored digitally anywhere

Cryptocurrency Wallet Safety:

Wallet Type Security Level Example wallet
Desktop Medium Bitcoin Core, breadwallet
Hardware High Ledger or Trezor
Online Low MyEtherWallet, blockchain.info
Software Medium Mycelium, Jaxx
Paper Highest Paper, you fool

Ultimately it’s up to you to decide how comfortable you are with which type of wallet. I know many people who use a combination of two or three wallets. Do your research and review the products you plan to use. In a way selecting a cryptocurrency wallet is like selecting a bank to store your cash. You want: Security, peace of mind and confidence in the product.

Follow us on twitter @cryptoiscomin

Subscribe to our newsletter to get the coolest infographics and articles from the crypto world