Too Many Hacks! Waterhole to Tackle Blockchain Security Problems
Despite being hailed as the best for security, accountability and resilience, Blockchain initiatives seem quite exposed to all sorts of malicious actors. Mt.Gox collapse has become a byword, but there are other, more recent examples, such as The DAO attack, and the ensuing ETH vs. ETC feud, or the HashOcean hack. In an environment like that, there is a need for secure apps, which care about the safety of their users’ funds. Waterhole, a company registered in US, has built an app based on these ideas. It is an encrypted Blockchain-powered messenger, an OTC escrow, and a local trading....
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Waterhole, a Bitcoin marketplace and escrow trading platform, is to implement Zcash mobile wallet and escrow trading. Both features are currently live, with all operations working in test mode with TAZ (test alpha Zcash) and will switch to ZEC, which are real Zcash coins, after the altcoin is launched today, Oct. 28. What is Waterhole? Watehole is a rapidly growing app developed by a team based in Tuspark, Beijing. The company has made quite an entrance to the scene earlier this year, promising to deliver solutions to many problems of Bitcoin trading and e-commerce security. The Waterhole....
One of the central problems that affronted many of the earliest blockchain ecosystems was a lack of interoperability, with isolated chains having less utility and creating problems when data needed to be transferred between them. This problem persisted for much of blockchain’s early history, until the creation of protocol systems that sought to tackle interoperability. […]
According to the latest report from blockchain security firm Immunefi, the cryptocurrency sector will face persistent challenges with hacks and scams in 2024. The report highlights that although exploit losses have decreased monthly, the industry has seen more than $1.4 billion lost to 179 hacks and scams this year. In October alone, losses amounted to […]
Decentralized finance is exploding. Its security is not. Here’s how to prevent millions more lost in DeFi. Creating a cryptocurrency from scratch isn’t easy. It requires extensive knowledge of various programming languages and knowledge of blockchain use cases, among other things. Instead of going through that effort, those newer to the crypto space wanting to build their own project tend toward tokens. Tokens are a crypto asset that exists within an ecosystem, like a project built on Ethereum. A token may be compatible with all Ethereum-based assets sharing the same token standard but....
While 2021 was the biggest year on record for crypto hacks, 2022 could “likely” beat the record “at this rate” according to Chainalysis. Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity” with the total hacked value for the month nearly reaching $718 million.Despite not being more than halfway through the month, Chainalysis said 11 different hacks on decentralized finance (DeFi) protocols had seen hundreds of millions exploited.Four exploits alone took place on Oct. 11 worth around $122 million. Hackers....