Mike Novogratz-Backed BitGo Offers $100 Million in Crypto Insurance

BitGo, a crypto custodian backed by Goldman Sachs, is offering up to $100 million in insurance coverage for cold-wallet assets through Lloyd’s. There is no additional cost to BitGo clients. In a press release, the company said the $100 million of insurance coverage protects custodial assets held by BitGo against: Third-party hacks. Insider theft by employees of private keys. Physical loss or damage of private keys. Mike Belshe, the CEO of BitGo, touted the new service: “This is the most complete insurance offering in the industry. It is not always easy…

Read More

Vertcoin Hit by 51% Attack, Allegedly Lost $100,000 in Double Spending

A bitcoin-replica launched with an aim to discourage miners from forming pools and gain a monopoly over its network has been compromised. Mark Nesbitt, a security expert, revealed that the blockchain of Vertcoin, a peer-to-peer PoW cryptocurrency, is under a 51% attack. The Coinbase engineer found that some anonymous cybercriminals rented a large amount of ASIC The post Vertcoin Hit by 51% Attack, Allegedly Lost $100,000 in Double Spending appeared first on CCN

Read More

Hackers Exploit Tracking Service to Infiltrate Bitcoin Exchange Gate.io

Statcounter is one of the oldest third-party user tracking services on the web, having existed since 1999. Beginning as a simple statistics and visitor counting service, Statcounter over time grew into what it is today: a full-fledged, enterprise-quality analytics service. Gate.io, a more recent entrant in the bitcoin exchange space, used Statcounter to track user The post Hackers Exploit Tracking Service to Infiltrate Bitcoin Exchange Gate.io appeared first on CCN

Read More

‘Big Bitcoin Heist’ Suspect Regrets Fleeing Iceland after Jailbreak

Sindri Thor Stefansson, a 31-year-old man who escaped from prison in Iceland and was rearrested two weeks ago in the Netherlands, has expressed regret for the jailbreak and his decision to flee the country, where he was a suspect in a crime dubbed the Big Bitcoin Heist. Stefansson confessed his feelings about the jailbreak during The post ‘Big Bitcoin Heist’ Suspect Regrets Fleeing Iceland after Jailbreak appeared first on CCN

Read More