Huobi Global’s US-Based Strategic Partner Crypto Exchange HBUS Rebrands as Huobi

Huobi Global’s US-Based Strategic Partner Crypto Exchange HBUS Rebrands as Huobi

HBUS, the United States-based strategic partner of China-born crypto exchange Huobi, has announced the rebranding of its retail trading service from HBUS.com to Huobi.com. THe rebranding was shared in a press release with Cointelegraph on Jan. 11. As reported, HBUS launched as a strategic partner of Huobi Group — the operator of the flagship Huobi Global crypto exchange — via a newly created San Francisco-based company “HBUS Holdco, Inc.” last June. The latter will reportedly continue to operate the platform after its rebranding. Under the new licensing agreement, HBUS.com will migrate to the domain name of huobi.com, while Huobi Global will continue to operate via its existing site, hbg.com. As well as officially adopting the Huobi brand name, HBUS is now reportedly set to benefit from an increased level of technological support from Huobi Global, specifically in regard to stability and security features, as well as securing access to new market makers. Founded in China in 2013, Huobi Group has been headquartered in Singapore since Beijing’s crackdown on domestic crypto-fiat exchanges in September 2017. The group first revealed plans to open an office in San Francisco in January 2018; following the announcement of HBUS in June, the U.S.-based partner trading service went live in July. In a bid to compete with major U.S. crypto trading services such as Coinbase and Robinhood, HBUS soon launched an API geared towards experienced traders, as well as onboarded new talent for its corporate development and compliance work. Over the course of the past year, Huobi Group — whose subsidiaries’ accumulated turnover reportedly exceeds $1 trillion — has continued to vigorously pursue overseas expansion, launching a South Korean subsidiary in April to complement existing operations in Hong Kong and Japan. In 2018, Huobi also launched an Australian crypto trading platform, opened an office in London, and acquired controlling stock interest in a Hong Kong Stock Exchange-listed firm, as well as Japanese FSA-licensed crypto exchange BitTrade. However, in December of last year, media reports surfaced that Huobi, along with cryptocurrency mining giant Bitmain, were set to lay off staff. At the time, Huobi Global commented that they did have plans to reportedly “optimize” its staffing by firing underachieving employees. An Exchange Volumes Report from data researchers at the Blockchain Transparency Institute…

The Daily: Critical Bug Found in Beam Wallet, Wirex Adds Another Cryptocurrency

The Daily: Critical Bug Found in Beam Wallet, Wirex Adds Another Cryptocurrency

The Daily In Friday’s edition of The Daily, we cover the news about a vulnerability found in the Beam Wallet days after the launch of the Mimblewimble-based coin. Also, crypto card provider Wirex has added waves to its list of supported cryptocurrencies, and digital asset exchange Exmo has registered an increase in the number of Belarusian users following Binance’s move to restrict their access to its platform. Also read: Trust Wallet Adds BCH, 35,000 Merchants Get Access to Crypto Payments Critical Vulnerability in the Beam Wallet The developers of Beam, a new privacy-centric coin based on the Mimblewimble protocol, have found a critical vulnerability in their Beam Wallet. The bug affects all previously released wallets in both the desktop and the CLI version, the company behind the project announced on Twitter. The problem has been fixed and Beam said in a post on Medium it’s currently working with providers to upgrade their systems. In another tweet, the Beam dev team asked all users to stop currently running Beam Wallets immediately. However, according to the message, they should not delete the wallet’s database, as the bug does not affect wallet data, secret keys or passwords. Instead, they need to uninstall the wallet, download it again from the website beam.mw/downloads and install the new application. Beam was launched on Jan. 3, becoming the first coin based on Mimblewimble, a protocol originally developed in 2016 to improve the scalability of the Bitcoin network and enhance the privacy of its users. The cryptocurrency is already available for trading on the decentralized platform Bisq which promised to also add Grin, another Mimblewimble coin expected to launch on mainnet by the end of this month. CRITICAL VULNERABILITY IN BEAM WALLET 9.1.2019 20:20 GMT Critical Vulnerability was found in Beam Wallet today. Vulnerability was discovered by Beam Dev Team and not reported anywhere else. Vulnerability affects all previously released Beam Wallets both Dekstop and CLI. — @Beamprivacy (@beamprivacy) January 9, 2019   Wirex Adds Support for Waves The popular online bank and crypto debit card issuer Wirex has added another coin to its list of supported cryptocurrencies. Users of the Wirex platform in the European Economic Area (EEA) can now buy, store, convert and spend waves with their Wirex Visa cards, the…

Coincheck Wins Crypto Exchange License 12 Months After Major Hack

Coincheck Wins Crypto Exchange License 12 Months After Major Hack

Japanese crypto exchange Coincheck, which suffered a $530 million hack in January of last year, is now a licensed entity. Monex Group, the Japan-based online brokerage firm that acquired Coincheck for $33.5 million following the cyberattack, announced Friday that the exchange is now registered with the Kanto Financial Bureau, under the country’s Payment Service Act, effective immediately. The license was approved by the country’s Financial Services Agency (FSA), on the basis of Coincheck’s improved risk management and governance systems with “concrete internal controls and customer protection in mind,” Monex said. Following the massive hack of around 500 million NEM tokens in January 2018, the FSA had ordered Coincheck to strengthen its security systems and submit a business management improvement plan to the authority. At the time, the exchange was not registered with the regulator. The breach also forced Coincheck to suspend its services for some months. Since then, the exchange has been phasing back in its operations. By November 2018, it had reinstated services for all listed cryptos on its platform. Now with the license in place, Coincheck joins the growing list of regulated crypto exchanges in the country, including financial services giant SBI Holdings, which operates a registered platform called VCTRADE. U.S.-based exchange unicorn Coinbase has previously said it expects to become licensed in Japan in 2019. All crypto exchanges in Japan came under anti-money laundering (AML) and know-your-customer (KYC) rules in April of 2017 when the country’s legislature passed the Payment Service Act and recognized bitcoin as a legal method of payment. Over 160 firms are planning to apply for the crypto exchange license, the FSA said back in September, adding that it is looking to increase its staffing levels to speed up the review process. Tokyo image via Shutterstock

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Ethereum development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday. The round was led by early-stage venture capital firm Crowberry Capital and included participation from private investment firm Hof Holdings, both also based in Iceland. Founded in 2016, Monerium is a fintech startup led by, among others, Jon Helgi Egilsson, former chairman of the Central Bank of Iceland. The firm is developing a solution for transacting fiat currencies over blockchains, what it calls “e-money.” The seed funding will be used to accelerate development of its services. Monerium ultimately aims to issue “asset-backed, redeemable and regulated e-money” over blockchains once a licensed institution, saying its products would make blockchains “more relevant and useful” to financial institutions and enterprises. While not yet licensed within the EU, its application is in progress, according to the announcement. Monerium CEO Sveinn Valfells said: “Becoming a licensed financial institution is the next key step for Monerium in order to assume full responsibility for and control over the complete range of functions required to issue e-money on blockchains: asset management, compliance, risk management, and product development.” Andrew Keys, co-founder of ConsenSys Capital, added that his firm is “dedicated to supporting companies building the infrastructure needed for a more decentralized and self-sovereign future.” Back in November, ConsenSys led a $2.1 million seed round for AZTEC, a startup working to make ethereum transactions private and thereby encourage financial institutions to use the second-largest blockchain. A month prior, it was the sole investor in a $6.5 million fundraise for DrumG Technologies, a blockchain startup formed by R3 former head of business development Tim Grant. Icelandic Króna image via Shutterstock 

Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings

Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings

The security token exchange subsidiary of e-commerce retail giant Overstock, tZERO, has started releasing control of its tokens, according to a letter to investors released on Jan. 11. Last August, the subsidiary had announced that its security token offering would close, having raised $134 million out of the maximum amount of $250 million previously specified. In June 2018, tZERO had also signed a letter of with investment company GSR Capital for the purchase of $160 million in tZERO Security Tokens. According to tZERO CEO Saum Noursalehi’s letter, investors now have the option of choosing where to hold their security tokens, either by creating a brokerage account with Dinosaur Financial Group, a tZERO partner and broker dealer, or holding them in a person wallet with a two-step verification system. He wrote: “As you are aware, on October 12, 2018 we completed the issuance of the tZERO security tokens. The tokens have been locked up in wallets maintained by tZERO on behalf of our token holders for 90 days following the issuance. Now that the three-month lock-up period has concluded, you must decide where to hold your security tokens.” The letter also noted that tZERO investors should “look out for another tZERO update regarding the commencement of security token trading,” as the time-frame for the live trading of the security token on its platform has not yet been clarified. The security token exchange had initially announced its trading platform prototype in April, with the aim to create a way to trade security tokens with such features as risk management software, order management system and matching engine. In early January of this year, tZero received a patent application for a crypto integration platform for trading digital assets, outlining a system that would be able to receive orders to trade securities, tokens, digital shares, cash equivalents and digital assets from broker-dealers and then translate the orders into crypto orders on a digital exchange.

Two Alleged Ethereum ‘Scam Forks’ Appropriating Users’ Private Keys, Report Finds

Two Alleged Ethereum ‘Scam Forks’ Appropriating Users’ Private Keys, Report Finds

Altcoins Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) are reportedly appropriating the private keys of users trying to redeem their allegedly forked coins. The suspected scam was covered in a report sent to Cointelegraph by the Guarda Wallet development team on Jan. 11. The official website of the Ethereum Nowa project — which doesn’t contain a white paper — describes the process that users are supposed to engage in to obtain ETN. According to the website, the user should first send ETH to an address, and then export the private key and redeem the cryptocurrency using the dedicated online tool. A user on Ethereum block explorer Etherscan has commented on the aforementioned address, asserting that the address is engaging in a “scam [hard] fork/airdrop” after warning “Don’t send anything here.” The tool to claim the coins appears to be a clone of the well-known online Ethereum (ETH) wallet MyEtherWallet (MEW), featuring the original logo, website title and page under a different domain. The main difference compared to the original MEW interface is that all the options that let the user chose how to access the wallet are greyed out, other than the one allowing the user to paste in their private key. Furthermore, some browsers flag the tool as a “Deceptive Site.” The Guarda Wallet team wrote that, analyzing the code, they found out that the private key is not only being processed by the tool, but also being sent to a remote server. According to the Guarda report, Ethereum Nowa “is a way for the thieves to get your private information and gain access to your wallet.” Ethereum Classic Vision’s hard fork, according to the project’s white paper, is happening today (Jan. 11) at 20:00 GMT. The website contains links to a downloadable Windows and Linux wallet alongside a web tool. Near the “Claim fork” button, the website states: “Regardless of which authorized wallet you use to hold your ETH, your free ETCV will be initially sent to the official Ethereum Classic Vision wallet. While we are currently in negotiations with a number of popular wallets, at the moment of the fork we will not be able to send ETCV to those wallets due to certain differences in the algorithms used.” The Guarda…

Bitcoin Price Looks South After Worst Daily Loss Since November

Bitcoin Price Looks South After Worst Daily Loss Since November

Bitcoin’s (BTC) price saw its biggest drop for seven weeks on Thursday, weakening the prospects of a bullish breakout above $4,100. The world’s largest cryptocurrency by market value hit a 3.5-week low of $3,503 yesterday, before closing (as per UTC) at $3,627 – down 9.4 percent on the day. That was the biggest single-day drop since Nov. 24 and the fourth biggest daily loss of the last two months, according to CoinDesk’s Bitcoin Price Index (BPI). Essentially, the hard-fought gains of the last two weeks have been erased in the last 24 hours. The cryptocurrency had carved out a bullish-higher low near $3,550 on Dec. 27 before crossing $4,000 on Jan. 6. The follow-through to break above $4,000, however, was anything but encouraging. Moreover, signs of bullish exhaustion emerged near the crucial resistance of $4,130 (inverse head-and-shoulders neckline) and demoralized bulls started to exit the market yesterday, leading to a sharp drop in prices. As a result, the bears may be feeling emboldened and could attack the crucial support lined up near $3,550. As of writing, BTC is changing hands at $3,630. Daily chart Bitcoin fell to $3,500 yesterday, confirming a bearish doji reversal on the daily chart. The cryptocurrency also closed below the crucial 50-day moving average (MA) support, Adding credence to the bearish move, trading volumes jumped to the highest level since Dec. 21 and 14-day relative strength index (RSI) breached the ascending trendline to the downside. With the odds stacked in favor of the bears, the immediate support of $3,566 (Dec. 27 low) could be breached soon. That would only bolster the already bearish technical setup. Weekly chart On the weekly chart, BTC has created a bearish outside reversal candle – this week’s price action has engulfed the previous week’s high and low – having failed to penetrate the 200-week exponential moving average (EMA) hurdle for four weeks straight. The candlestick pattern indicates that the week began with optimism, but is approaching a more pessimistic close. As a result, it is widely considered a sign of bearish reversal. Put simply, the doors have been opened for a re-test of the 200-week MA lined up at $3,250. Supporting that bearish case is the downward sloping 10-week MA. View BTC risks breaching the bullish-higher…

PR: Bitex Global Launches XBX on Global Exchanges

PR: Bitex Global Launches XBX on Global Exchanges

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. As per the reports, Bitex has launched its cryptocurrency in worldwide cryptocurrency exchanges, coin namely XBX which is now accessible for trading. So now it’s the right time to change your coins which you don’t need into XBX. As cryptocurrency is the evolving aspect of future payments, Bitex is offering you a solution to facilitate your daily requirements. The coin-XBX will be used as a utility token, received as a fee for all the transactions. In order to receive a Bitex card, you must process KYC and get registered with an account by going to https://bitexpay.cards/my-account/. You can pay through cryptocurrency to receive debit cards for the same. XBX trading is open now, and you can begin trading at IDAX-a crypto exchange , Right BTC-a crypto exchange and soon to be launched in addition to this, the trading will start at other platforms counting 17 cryptocurrency exchanges world wide. The dates are as following — Right BTC- January 11,Coinlim – January 13th, Bit Pay- January 21st, P2PB2B-January 31st, Coin Tiger- February 4th, Dobi Trade- February 7th, EZBITEX download and registration- February 14th, Bit Forex- February 28th, and EZBITEX exchange launch- March 1st . For other latest updates and releases, refer to official websites of Xnews and Bitex.Initially, Bitex has conducted an initial coin offering of XBX and had a total supply of 300,000,000 XBX. The Pre-ICO token price is 0.5$ and the cost of one token of XBX was $0.7to $1.0 at the end of the token sale. By this time, Bitex has distributed over 65% of XBX through the sale of licenses for the EZBitex platform software to its authorized partners over 8 countries and BitexPay Cards to over 7000 users worldwide. XBX will be considered as a crypto credit standard in the blockchain ecosystem. XBX offers protected liquidity with sophisticated security using blockchain on ERC20 protocol. The technology is strongly compliant with KYC and AML procedures that ensure 100% anonymity and privacy for the users of the coin. More information can be found at https://ico.bitex.global/. COMMUNITY…

NASA Eyes Blockchain Tech to Secure Aircraft Flight Data

NASA Eyes Blockchain Tech to Secure Aircraft Flight Data

NASA – the National Aeronautics and Space Administration – is examining blockchain technology as a means to ensure the privacy and security of aircraft flight data. Ronald Reisman, an aero-computer engineer at NASA Ames Research Center, published a paper on Monday, suggesting that blockchain networks and smart contracts can help mitigate some security issues. Starting Jan. 1, 2020, the U.S. has been mandated by the Federal Aviation Administration (FAA) to use a new surveillance system – Automatic Dependent Surveillance Broadcast (ADS-B) – which will publicly broadcast aircrafts’ identity, position and other information. That has raised security concerns among stakeholders, Reisman said in his paper, explaining that the ADS-B system “does not include provisions for maintaining these same aircraft-privacy options, nor does it address the potential for spoofing, denial of service, and other well-documented risk factors.” Civil aircraft companies would prefer to keep some data private, he writes, for example, to counter tracking executives as part of corporate espionage operations. Military aircraft traffic data, meanwhile, is defined by the Department of Defense as “Information that, if disclosed, would reveal vulnerabilities in the DoD critical infrastructure and, if exploited, would likely result in the significant disruption, destruction, or damage of or to DoD operations, property, or facilities.” Considering the sensitivity of related air traffic data, the military need for confidentiality “is likely to remain decisive in their adoption and use of ADS-B,” Reisman writes. To address these and other issues, the researcher presents a prototype in the paper, dubbed the Aviation Blockchain Infrastructure (ABI), based on Hyperledger Fabric and smart contracts, which allows control over what data is shared publicly or privately with authorized entities. For instance, aircraft “state information,” such as altitude, indicated airspeed, heading, etc., could be kept secure via a private channel, while flight-plan information, such as aircraft type, origin, destination, filed route, etc., can be published on a public channel for access to approved members. Reisman says: “We propose to use a ‘lightly permissioned’ blockchain framework to enable the ADS-B systems to meet or exceed the same levels of privacy and security currently provided by radar-based systems in the NAS [National Airspace System].” This is not the first time that the NASA has set out to explore blockchain seeking technological improvements. Back in February, the agency…

Crypto Hedge Fund Manager Disputes Augur Metrics of $2 Mln, Claims Only $100,000 at Stake

Crypto Hedge Fund Manager Disputes Augur Metrics of $2 Mln, Claims Only $100,000 at Stake

Blockchain-based prediction market Augur is reportedly significantly overestimating its usage, a founding partner of cryptocurrency hedge fund Tetras Capital claimed on social media on Jan. 10. The latest criticism of the project, Alex Sunnarborg took Augur to task following publication of its most recent weekly report showing the amount of money circulating within its markets. Specifically, the report claims around $2 million is currently involved in wagers set up by users. Sunnarborg, however, notes the figure includes wagers which have already closed. “Augur metrics showing ~$2 (million) ‘total money at stake’ include markets that have already ended,” he tweeted, adding: “If we exclude markets that have ended there is (less than $100,000) total money at stake on Augur.” The largest wager still active is a bet on the market cap of Ether (ETH) overtaking that of Bitcoin (BTC) by the end of this year. As Cointelegraph reported, cryptocurrency figures have pointed out an apparent discrepancy in Augur’s user numbers versus the amount the company raised in its 2017 initial coin offering (ICO). In a blog post last month, Bitcoin developer Jimmy Song alleged that based on an average daily user base of just 25, each participant was worth $3.65 million of the ICO market cap. “Amazingly, this is one of the success stories for an altcoin/ICO!” Song commented, while noting that Augur had produced better results than other ICO projects which failed to bring a product to market. At the same time, the CEO of cryptocurrency trading platform BitMEX forecast a renaissance for ICOs within the next 18 months, countering the 2018 bear market which saw some tokens lose more than 90 percent of their value.