How is Bitcoin Actually Stolen? Theft Prevention
The successful US$65 million dollar hacking attack launched on the Bitfinex trading platform left the community to question the security measures of the multi-signature technology implemented by the exchange. It also triggered a relatively simple yet important argument; how is Bitcoin actually stolen? To begin with, let’s tackle the fundamentals of the security breach of Bitfinex. As demonstrated by the infographic provided by Bloomberg below, the major factor behind the Bitfinex trading platform’s vulnerability was its improper implementation of the multi-signature technology and of the....
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A South Korean music sharing platform, Koong World, recently announced the registration of a non-fungible token (NFT)-based music theft prevention patent. Using this patent, the music sharing platform aims to “solve the problem of copyright protection in the rapidly growing music market.”
Tackling the Problem of Copyright Infringement in the Music Industry
A South Korean peer-to-peer music sharing platform, Koong World, recently registered an anti-music theft patent with the Korean Intellectual Property Office, a report has said. Kung World says the patent will....
A Twitter user claimed that they purchased a stolen NFT and OpenSea support advised them to sell it on another marketplace. As asset theft remains one of the biggest headaches in the nonfungible token (NFT) space, NFT marketplace OpenSea is making an effort to tailor its policy to incorporate additional measures against stolen items. In an announcement, the firm highlighted that its policies were made considering United States laws, where knowingly allowing the sale of stolen items is prohibited. However, the marketplace admitted that in some cases, buyers who unknowingly bought stolen....
NXT developers announced to CCN that there would be no rollback. To view the announcement, visit our article here. This morning, around 50 million NXT was stolen from the popular cryptocurrency exchange BTER. The number is outstanding, as the amount stolen is near five percent of all NXT in existence. The proof-of-stake coin's community is now faced with a difficult decision that Vericoin developers faced a few months ago when hackers stole Vericoin from Mintpal. Either NXT allows the thief to get away with the funds, or they rollback the blockchain to just before the theft transaction....
Trippy Bunny NFT, a new Solana-based nonfungible token project, decided that it would donate 100% of its mint sale proceeds to the American Foundation for Suicide Prevention. Trippy Bunny made this announcement on Twitter on Suicide Prevention Day. World Suicide Prevention Day (WSPD) is an awareness day observed on September 10th every year. Since 2003, […]
Prominent Hong Kong-based bitcoin exchange Bitfinex has announced that it has halted all trading on its platform while investigating a breach that has seen customers lose their funds due to theft. Bitcoin exchange Bitfinex has halted all trading on its platform, including all deposits and withdrawals. An announcement on its website has confirmed that Bitfinex users have had their bitcoins stolen, while the exchange investigates the security breach. No figures on the stolen bitcoin or the number of users impacted have been revealed yet. The statement read: We are investigating the breach to....