Tether Tether is a controversial cryptocurrency with tokens issued by Tether Limited. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. The Bitfinex exchange was accused by the New York Attorney General of using Tether’s funds to cover up $850 million in funds missing since mid-2018. Tether is called a stablecoin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued. Nevertheless, Tether Limited…Read More
$150,000 USD in Ethereum Stolen in MyEtherWallet Hack
$150,000 USD in Ethereum Stolen in MyEtherWallet Hack For two hours yesterday, April 24th, 2018, hackers diverted visitors of MyEtherWallet.com, accessing user accounts and stealing approximately 215 ether. MyEtherWallet warned users on Reddit and Twitter as soon as the hack was identified. But, this left a couple of hours where users of the wallet attempting to visit the MyEtherWallet.com website were redirected to a “spoof” or phishing site controlled by the hackers. The hack employed the “decade-old” technique of redirecting Domain Name Servers (DNS) rather than a hack to, or…Read More
What Is The Difference Between Bitcoin and Ethereum?
What Is The Difference Between Bitcoin and Ethereum? Last year, thanks to stratospheric rises in value, lots of people became aware of the existence of Bitcoin, as well as another often-cited up-and-coming cryptocurrency, Ethereum. By market cap they are the two most valuable cryptocurrencies – as of writing (and please note that these numbers fluctuate quite a lot), the total value of all the Bitcoin in existence is $143 billion, while Ethereum sits at $88 billion. For perspective – that means Bitcoin is currently held at around the same value…Read More
Venezuela Announces Petro Coin Presale
Venezuela Says Crypto Mining Now ‘Perfectly Legal,’ Announces Petro Presale Venezuela’s government has said cryptocurrency mining is now “completely legal”as it plans the presale of its Petro coin for next month. In comments during a TV address quoted by local news outlet TeleSur, the country’s newly-dubbed ‘cryptocurrency superintendent’ Carlos Vargas confirmed that citizens mining Bitcoin and other cryptocurrencies were not breaking the law. Last year, Venezuela made headlines on several occasions after reports emerged that police were cracking down on mining operations, accusing those involved of sapping power from the…Read More