Announcing Bitcoin (BTC) Support on Coinbase Wallet

Announcing Bitcoin (BTC) Support on Coinbase Wallet

Starting today, you can now store your Bitcoin (BTC) directly in the Coinbase Wallet app. Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet. Coinbase Wallet already supports Ethereum, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for Bitcoin is an important next step in that direction. The new Wallet update with Bitcoin support will roll out to all users on iOS and Android over the next week. Bitcoin support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin to send BTC to your Coinbase Wallet. Coinbase Wallet supports both newer SegWit addresses with lower transaction fees, as well as Legacy addresses for backwards compatibility in all applications. And, as always, your private keys are encrypted on your phone using Secure Enclave technology, to bring you best-in-class security. This specialized hardware is considered the most secure way to safeguard private data on mobile devices. Wallet also supports the Bitcoin Testnet to aid developers and power users. You can switch to the testnet from the Advanced Settings section of the Settings tab. As announced previously, we’re also working on support for Bitcoin Cash, Litecoin, and other popular cryptocurrencies. If you have only ever used the primary Coinbase app (or Coinbase.com), we encourage you to check out Coinbase Wallet. The Coinbase Wallet app is Coinbase’s user-controlled cryptocurrency wallet. With Coinbase.com, you can buy crypto and Coinbase stores it (along with your private keys) for you; with Coinbase Wallet, you store your own crypto (safeguarded by a private key that only you know). To learn more, visit our website. We hope you enjoy using Coinbase Wallet. Your feedback helps us make Wallet better for everyone. You can reach us at wallet.support@coinbase.com. Unless otherwise noted, all images provided herein are by Coinbase.

Five Critical Vulnerabilities Discovered in EOS in 2019, HackerOne Data Shows

Five Critical Vulnerabilities Discovered in EOS in 2019, HackerOne Data Shows

EOS.io, the company responsible for the development of fourth-largest crypto by market cap EOS, has handed over bug bounties for five critical vulnerabilities this year. Public activity on breach disclosure platform HackerOne revealed the bounties. On Jan. 10, $40,750 was awarded to five white hat hackers on the platform by EOS.io, and the day after, another researcher received a $10,000 bounty. Five of those bounties are equivalent to $10,000 each, which is the highest possible payout reserved by the company only for the most critical vulnerabilities. The Tron Foundation, the company behind the cryptocurrency Tron, also awarded four bounties in January — one of them for the most critical level of bugs — spending $22,700 in total. Vulnerabilities have also been already discovered in other crypto companies this year. Namely, two bounties have been awarded by Cobinhood and one by Coinbase for bugs found in the low vulnerability tiers. All of the vulnerability reports that have been awarded a bounty cited in this article are undisclosed, and the details of the vulnerabilities discovered are not public. EOS has kept its price stable on the day at press time, losing only about half of a percent of its value in the past 24 hours and trading at $2.40. As Cointelegraph reported in December last year, researchers were awarded $878,000 in 2018, with EOS.io being reportedly responsible for 60 percent of all the bounties handed out over the whole year. China recently released its latest government-sponsored rankings of major cryptocurrencies. In this report, EOS kept its top spot, while Bitcoin (BTC) came in 15th.

Breaking: Lawyers Might Sell QuadrigaCX to Settle Debts

Breaking: Lawyers Might Sell QuadrigaCX to Settle Debts

A court-ordered lawyer will get the encrypted laptop of recently deceased CEO of major Canadian crypto exchange QuadrigaCX Gerald Cotten, Canadian broadcast network CBC reports Tuesday, Feb. 5. According to CBC, the laptop that might provide access to $190 million of QuadrigaCX customer funds will be given to a monitor — an independent third party who is appointed by the court to monitor the company’s operations during bankruptcy procedures. According to Jack Julian, CBC’s reporter who is attending the hearing in Nova Scotia’s court today, Feb. 5, the laptop was previously held by QuadrigaCX representatives. As the assets were stored in a cold wallet, the court believes that the QuadrigaCX case is not a typical bankruptcy. The creditors might consider changing the jurisdiction to proceed with the case, Julian writes in his Twitter, citing the monitor. CBC’s reporter also adds that QuadrigaCX has asked for a 30-day stay of proceedings — which will end on Mar. 7 — to search for the $190 million that is apparently inaccesible following Cotten’s death. In case the keys are not found, the lawyers representing QuadrigaCX are considering selling the company in order to satisfy the debts. Canadian cryptocurrency exchange QuadrigaCX has faced financial difficulty since its CEO Gerald Cotten reportedly died of complications from Crohn’s disease in December 2018. As some of the customers have expressed their concerns about Cotten’s death, Coindesk has recently published a death certificate, issued by the Government of Rajasthan’s Directorate of Economics and Statistics, which was obtained from an informed source. It states that Gerald William Cotten died on Dec. 9, and Jennifer Robertson is mentioned as his widow. According to a January affidavit filed by Cotten’s wife, the exchange apparently has no access to its wallets, and the CEO had not left evidence of passwords. The reported number of users affected is 115,000, with around $250 million CAD ($190 million USD) in cryptocurrency and fiat currency lost.

Why Google Data Scientists Are Interested in Ethereum Classic

Why Google Data Scientists Are Interested in Ethereum Classic

Google’s big-data analytics platform, BigQuery, just quietly added support for Ethereum Classic blockchain searches along with a range of other cryptocurrency networks. This effort will make it easier for technologists to search the blockchain for specific pieces of data. This move is just one out of many the ETC community is pushing forward this winter to try to boost the niche cryptocurrency’s role in the broader marketplace, where it currently ranks via the CoinDesk Crypto-Economics Explorer as having less than 1 percent of the network activity displayed by bitcoin and just over 3 percent of the comparable developer benchmarks on GitHub. Brazilian entrepreneur Edilson Osorio Junior, CEO of the blockchain voting and verification startup OriginalMy, told CoinDesk that this BigQuery addition will make it easier for his startup to search for a specific vote or authenticated publication date for a piece of media. “Retrieving from BigQuery will be so fast, so I don’t need any more to have a local database to be redundant,” Junior said. Although his company plans to continue operating nodes for their own records, OriginalMy is an anomaly in that it has paying clients like the Brazilian Fintech Association that might require quick queries. Junior said OriginalMy earned $60,000 from such clients in 2018 and is currently participating in the first Ethereum Classic Labs startup accelerator program in San Francisco, which concludes with a demo day in April 2019. According to Yaz Khoury, director of developer relations at the nonprofit ETC Cooperative, Google’s staff took note of this increased focus on fostering use cases. “They approached me,” Khoury said of Google, adding that BigQuery support is about “merging the gap between people who are very familiar with the blockchain data structure” and technologists who are more familiar with querying other types of data. Khoury is already using BigQuery to map out ETC ownership distribution beyond exchanges and the two millionaires who helped grow the ethereum spinoff, ethereum co-founder Charles Hoskinson and Digital Currency Group founder Barry Silbert (full disclosure, DCG is CoinDesk’s parent company). Now that Khoury said people can search for ETC blockchain data across all of Google Cloud’s BigQuery products – and that hopefully, less-crypto-savvy technologists will experiment on their own as well. Despite its nascent user base, this…

Head of Russia’s Second Largest Bank Compares Crypto Mining to Counterfeiting

Head of Russia’s Second Largest Bank Compares Crypto Mining to Counterfeiting

Andrey Kostin — the head of VTB, Russia’s second-largest bank — has compared cryptocurrency mining with counterfeiting, major Russian news agency TASS reports Monday, Feb. 4. While speaking to students who participated in an educational contest organized by major Russian tech corporation Yandex, Kostin said: “I am not a big fan of the crypto ruble. To me, this is a kind of counterfeiting. A person who is mining [cryptocurrencies] is similar to someone who is printing money. During the initial euphoria, everyone thought that everything can be paid in crypto starting tomorrow, but it hasn’t happened so far.” Kostin believes there will be a relatively small market niche for cryptocurrencies in the foreseeable future, for as the global financial industry is getting more and more transparent, offshore holdings are gradually disappearing. Moreover, the banker believes that there is no relevant way to regulate the crypto area in the same way that the traditional markets are regulated. If cryptocurrencies become dominant on the financial markets, it can be dangerous, Kostin concluded. However, the board chairman at VTB, Olga Dergunova, does not share Kostin’s stance. In June 2018, Dergunova claimed that VTB was potentially ready to work with digital assets. Moreover, she said that they could be treated on an equal basis with fiat in the near future. As Cointelegraph previously reported, the demand for cryptocurrencies in Russia is allegedly very high, but the banks are not able to meet it due to the lack of clearly defined regulations. During a closed-door meeting in September 2018, several Russian banks including Sberbank, Alfa-Bank and VTB reportedly expressed their interest in crypto. Russia’s cryptocurrency and blockchain legislation, which had passed its first reading stage in March 2018, has since been sent back for further edits. At the end of January, the chairman of the upper house of the country’s parliament urged legislators to expedite their work on the digital economy bills.

QuadrigaCX Is Filing for Creditor Protection Amid Liquidity Crisis, Community Remains Largely Skeptical

QuadrigaCX Is Filing for Creditor Protection Amid Liquidity Crisis, Community Remains Largely Skeptical

Canadian cryptocurrency exchange QuadrigaCX is in hot water: Following the sudden death of its 30-year-old founder, Gerald Cotten, the exchange has allegedly lost access to its cold wallets, where most of the funds were stored. Now, the exchange has taken to court to avoid the collapse, but some community members suggest that QuadrigaCX’s cold wallets never existed. Canada’s largest crypto exchange with a complex history QuadrigaCX was launched in December 2013 and operated from Vancouver, British Columbia. The digital assets exchange was founded by Gerald Cotten and Michael Patryn. Prior to that, Cotten was a director at the Vancouver Bitcoin Co-op, a voluntary association of local cryptocurrency enthusiasts, of which Patryn was also an active member. According to Cotten, QuadrigaCX was established against the backdrop of scarce crypto services in Canada. In February 2015, he said on a Decentral Talk Live podcast: “It was just so hard to buy Bitcoin in Canada. You couldn’t hook up your bank account anywhere. It was just such a challenge.” In 2015, QuadrigaCX became the country’s largest crypto exchange, with around $37.4 million traded on their platform — according to the company, it had acquired around 60 percent of the market share by November that year. QuadrigaCX is also reportedly the first crypto platform in Canada to be granted a money services business (MSB) license from the Financial Transactions and Reports Analysis Centre (FinTRAC), the domestic financial regulator responsible for Anti-Money Laundering (AML) measures. As Cotten told Straight in a February 2014 interview, his exchange was focused on compliance: “We’re quite proactive when it comes to regulations. We don’t want to break the law. We want to fully comply, and we actually more than comply with what the current laws are.”   Despite claiming to be a compliant company, QuadrigaCX doesn’t have a public office. In February 2018, Reddit user u/Psychofig claimed that, after he checked out the address stated on the exchange’s website — 223-2055 Commercial Drive, Vancouver BC — he discovered it was nonexistent. In response, the company said that they had an office before, but closed it down for the public due to security concerns: “Its a PO [post office] box, just like our competitors. We could have a physical office where you could visit, but…

Winklevoss Exchange Gemini Shuts Down Accounts Over Stablecoin Redemptions

Winklevoss Exchange Gemini Shuts Down Accounts Over Stablecoin Redemptions

Two over-the-counter trading desks say their accounts at Gemini, the crypto exchange founded by U.S. investors Cameron and Tyler Winklevoss, were abruptly closed without explanation over attempts to redeem GUSD, the company’s stablecoin first introduced in September. The claims leveled against Gemini by the OTC desks, relayed under anonymity due to fears of reputational damage, hint at the business practices developing within the stablecoin market itself, now estimated to be worth nearly $3 billion. In one instance, email correspondence obtained by CoinDesk shows an OTC trader based in Latin America had his account closed after he informed Gemini that he planned to redeem several million dollars of GUSD. (A major cryptocurrency exchange, speaking on condition of anonymity, attested to the desk’s professionalism and reported that it was in good standing.) Still, Gemini said in a statement to the trader that a review “determined [the] account must be closed” and that it was “not able to elaborate on the specifics for this decision.” When contacted by CoinDesk, Gemini declined to comment on the incidents. However, the actions may hint at how measures taken by Gemini to boost GUSD adoption have had unintended impacts in practice. In a bid to capture market share, Gemini issued roughly 1 percent discounts on GUSD in 2018 to OTC desks and market makers, who were then made to agree on restrictions that would bar them from immediately redeeming the assets. According to the trader based in Latin America, Gemini pitched the company on a discount deal that offered his firm the ability to buy tokens at below market value. (The company declined because the desk wanted to obtain GUSD so that it could be transferred to fiat.) When the desk later acquired GUSD from its own network, the trader said he was warned by Gemini staff that redeeming millions of dollars would harm the stablecoin. In another instance, a U.S.-based OTC desk told CoinDesk its Gemini account was promptly shut after redeeming several million GUSD. He now believes this was part of Gemini’s strategy to “maximize their status on CoinMarketCap.” The trader provided emails to CoinDesk that show how Gemini closed the account without offering any reason, days after the desk redeemed GUSD. These issues are so widely known that an OTC…

Report Claims Quadrigacx Never Held More Than 1,000 BTC

Report Claims Quadrigacx Never Held More Than 1,000 BTC

The drama surrounding Canadian cryptocurrency exchange Quadrigacx continues to intensify, with a recent report by Zernoncense claiming that the exchange has no identifiable cold storage reserves and that it has never held more than 1,000 BTC in customer funds. Also Read: Kraken Acquires British Derivatives Platform Crypto Facilities Report Refutes Claims of Quadrigacx Owner’s Widow The report finds numerous assertions made in the affidavit submitted to Canadian courts on Jan. 31 by Jennifer Roberston, the wife of the exchange’s allegedly deceased chief executive officer, Gerry Cotten, to be false. The findings have been informed by analysis of Quadrigacx’s BTC and ETH wallets. As the wallet addresses for Quadrigacx “were not widely known,” the report relies on deposit information given to customers that was aggregated from Reddit. The author notes that the findings are not guaranteed to represent “a factual truth,” however, comparisons between Quadrigacx and the withdrawal practices of known solvent exchanges shows “highly unorthodox” practices. The analysis was conducted using Walletexplorer, which as the author states was created and is still being used by Chainalysis. Report Claims Quadrigacx Uses Multi-Signature Wallets Based on Zerononcense’s findings, the number of BTC held by Quadrigacx is substantially less than that which was reported in Jennifer Robertson’s affidavit. The analysis finds that there are “no identifiable cold wallet reserves” for Quadrigacx, estimating that the exchange is in possession of less than 1,000 BTC. The report also claims to evidence transfers totaling approximately 3.53 BTC that occurred on Jan. 24 and Jan. 25, apparently contradicting Robertson’s claims that the exchange’s funds are inaccessible. The report also asserts that the numerous wallets used by Quadrigacx had multi-signature capability. Quadrigacx Accused of Rerouting Customer Funds to Process Withdrawals According to the report’s findings, Qaudrigacx was “clearly” re-routing payments from customers to process withdrawals, comprising the operation of a “shell or a ponzi.” The author also asserts that withdrawal delays previously experienced by Quadrigacx customers resulted from the exchange not having the required funds available at the time, adding that in some instances the exchange was “forced to wait for enough customer deposits to be made” before processing withdrawals. What do you make of the Quadrigacx drama? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a…

The Daily: Turbo Tax Adds Crypto Section, Venezuela’s Localbitcoins Record

The Daily: Turbo Tax Adds Crypto Section, Venezuela’s Localbitcoins Record

In this edition of The Daily, tax filing software Turbo Tax has integrated a feature that allows crypto investors to report their capital gains online. Also, Venezuelans have set a new record in P2P trade on Localbitcoins and Brazilians can now pay for movie tickets with digital coins.   Also read: Twitter CEO Talks Bitcoin, Bitstamp Releases New Mobile App Traders Can Upload Capital Gains Data Into Turbo Tax Turbo Tax, the popular tax filing platform in the U.S., is adding a “cryptocurrency section.” The new feature will be provided through a partnership with Coins Tax, the operator of crypto tax calculator Bitcoin Taxes. It will be available to taxpayers who have bought the 2018 Premier and above versions of Intuit’s Turbo Tax Online. According to a press release by Coins Tax, Bitcoin Taxes now has a report functionality that enables users to import their cryptocurrency capital gains into Turbo Tax Online. The company claims the integration will save crypto traders time in tax preparation by allowing them to upload their transactions directly into Form 1040 Schedule D. Coin Tax CEO Colin Mackie commented: We are working with Turbo Tax Online to make filing crypto taxes much easier. Until now, tax preparation software has provided limited cryptocurrency support. The new Cryptocurrency section in Turbo Tax Online with its import from Bitcoin.tax will save everyone a lot of time. Bitcoin Taxes is one of the earliest tax calculators for crypto investors. The online platform allows users to import data for their purchases and sales of cryptocurrency throughout the year from a number of major crypto exchanges such as Coinbase, Gemini and Poloniex. It’s one of several available tax filing and calculation tools cryptocurrency traders can use this tax season. Venezuelans Set New Record in Localbitcoins Trade While the government in Caracas is trying to regulate decentralized cryptocurrencies, Venezuelans have achieved a new record in the volume of their crypto trade on Localbitcoins. Data compiled by Coin Dance shows that in the week of Feb. 2, 2019, they exchanged over 17.3 billion bolivar worth of bitcoin core on the peer-to-peer cryptocurrency trading platform. That’s more than 2,000 BTC, an all-time high for the market. The news came just as Venezuelan authorities adopted regulations for digital coins in the country.…

6 Popular Darknet Marketplaces That Accept Cryptocurrency

6 Popular Darknet Marketplaces That Accept Cryptocurrency

The P2P exchange of cryptocurrencies for goods and services began life on the darknet, whose underground markets are still thriving today. After connecting to the darknet using the Tor browser, cryptocurrency users can access a range of markets that accept BTC, BCH and other digital assets. Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings Buy Anything You Need in a World Free of KYC There are many reasons why people flock to the darknet to shop. Be it out of curiosity, necessity, or simply a desire for the sort of privacy that’s lacking on the clearnet, darknet marketplaces (DNMs) offer many things for many people. While synonymous with illicit wares, including drugs, DNMs offer much more, stocking tangible and intangible goods ranging from books to art. For anyone intrigued by what darknet marketplaces have to offer, there are certain security precautions it’s wise to take before plunging in. These include disabling Javascript in the Tor browser and taking care to avoid links to phishing sites. Just like the clearnet, the darknet has its share of lookalike sites designed to part traders with their crypto. Sites such as Deepdotweb (when it’s online) as well as onion forum Dread are where many users get started. When DNM operators are changing their onion domain, they’ll usually post an update on these sites, signed with their PGP key. The following darknet markets are the most popular right now. Dream The darknet’s longest standing market, Dream, has somehow survived since 2013. It accepts bitcoin core (BTC) and bitcoin cash (BCH) and features 63,000 digital goods, 87,000 drugs, and thousands of other listings under such categories as “drug paraphernalia” and “services.” Listings can be filtered by cryptocurrency, seller location, buyer location, vendor, and keyword. The marketplace features one-tick message encryption at checkout, but buyers are recommended to fully encrypt messages using the vendor’s public key. That way, if the website should be compromised, messages will be indecipherable. DreamWallstreet Market Wallstreet is another DNM that’s been standing for a while. It supports 2/3 multisig, enables PGP login and supports BTC and privacy coin monero (XMR). Drugs is its most populated category, but Wallstreet also does a robust trade in counterfeits, jewelry, services, malware, digital goods, and tutorials. Point Point, also…