Features TheBitTimes.com

A security breach has resulted in the loss of 2,675.73 XMR from Monero's community crowdfunding wallet. The cause and source of the breach remain unidentified. A recent attack compromised Monero’s community crowdfunding wallet , wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000. The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero’s developer Luigi. According to him, the source of the breach has not been identified yet. "The CCS Wallet was drained of 2,675.73 XMR (the entire balance) on September 1, 2023, just before midnight. The hot wallet, used for payments to contributors, is untouched; its balance is ~244 XMR. We have thus far not been able to ascertain the source of the breach." Monero’s Community Crowdfunding System (CCS) funds development proposals from its members. “This attack is unconscionable, as they’ve taken funds that a contributor might be relying on to pay their rent or buy food,” noted in...

Ledger’s CEO says that, while it may take a few years, big money is getting into crypto. Over the past 12 months, some investors learned the hard way why they needed to move their crypto offline. Those who kept Bitcoin (BTC) and altcoins on crypto ex change s like FTX lost control of their assets, sometimes forever. Events drew a red line under the storied crypto adage: “Not your keys, not your coins.”  FTX’s loss was hardware wallet manufacturer Ledger’s gain, however. The Bahamas-based ex change ’s November 2022 bankruptcy filing delivered to Ledger “our biggest sales day ever,” the firm’s chief experience officer, Ian Rogers, told Cointelegraph, and “November turned out to be our biggest sales month on record.” Paris-based Ledger has been on a strong growth curve recently, though the past year has not been without controversy. In May, for instance, the firm drew industry ire when it launched a new secret recovery phrase storage service called Ledger Recover. Still, it remains one...

Circle’s CEO praised Avocado Multisig, a multi-chain wallet, calling it a USDC “gas tank.” Circle CEO Jeremy Allaire lauded the launch, highlighting the wallet ’s unified USDC “gas tank,” allowing all signers to pool resources to cover transaction fees across supported blockchain networks. This feature simplifies the often complex issue of gas fee management in the defi ecosystem. Great example of a multi-sig direct custody wallet with a unified $USDC gas tank for all chain fees. Well done @Instadapp ! https://t.co/vCGwfEjLpG — Jeremy Allaire (@jerallaire) August 29, 2023 The announcement came on Aug. 29. The protocol launched its Avocado defi wallet in March. The new wallet can cater to many users, including individuals, teams, and institutions. Multi-signature wallet s, commonly known as multisig, require multiple private keys to access crypto assets or execute transactions. This feature enhances security by eliminating the risk of a ...

Some creative Bitcoin ers have introduce d a novel method for customizing multi-signature wallet s that can adapt to a variety of real-world use cases. The newly- introduce d Frostsnap method upgrades the capability of any multisig with a suite of new Features . For context, traditional Bitcoin Script multisig wallets have always been the most secure way to safeguard funds on the Bitcoin network. As the name suggests, rather than a single signer able to transfer funds, a multisig requires multiple signers to authorize any transaction.  Traditional multisigs can’t add signers without creating a new wallet. Changing a 2-of-3 to a 3-of-5 multisig, for example, requires creating a new multisig and transferring funds. Frostsnap , however, introduce s a method to: change hardware wallets (Ledgers, Trezors, ColdCards, etc.) belonging to a multisig without additional on-chain transactions, add new signers to a key after the initial private key generation event, permitting ph...

CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider "rugpull" that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on May 5. “We have successfully frozen $160K of the stolen funds with the help of partners,” CertiK said, adding that they’re continuing to monitor the movement of the stolen funds: We have successfully frozen $160K of the stolen funds with the help of partners. We will continue to monitor the movement of all stolen funds in an attempt to freeze and recover the remaining amount. — CertiK (@CertiK) May 4, 2023 The firm explained that they tried to “collaborate” with Merlin to recover the funds stolen from the April 25 " rugpull " but the e...

Students showcased new Web3 solutions focused on enabling better user experience, privacy and security at ETHDenver 2023. Thousands of attendees recently gathered at Denver’s National Western Complex for ETHDenver 2023 to learn about the current and future cryptocurrency ecosystem.  John Paller, founder and executive steward of ETHDenver, told Cointelegraph that 15,000 ticketholders attendedr ETHDenver’s main event. While ETHDenver attracted a diverse crowd, many students from leading universities attended the event, showcasing new solutions to advance the crypto and Web3 sector. Devs focus on UX, security and privacy Gil Rosen, president of the Stanford Blockchain Accelerator — a program that connects Stanford University students and alumni founders in the Blockchain space — told Cointelegraph that he believes current Web3 Technology platforms are generally non-performant. “These platforms often lack privacy preservation, are extremely challenging to develop on (especially complex...