• 51% ATTACK
    Ethereum

    Ethereum Classic hack nets thieves $1.1 million

    The 51% attack saw control of the cryptocurrency’s blockchain taken over by bad actors

    Ethereum Classic, the cryptocurrency created after the main Ethereum developers led by Ethereum founder Vitalik Buterin split off in a June 2016 hard fork to reverse the theft of $55 million in coins, suffered another loss this week. On Jan. 5, a miner or group of miners managed to gain control of more than half of the Ethereum Classic mining power, or hashrate, in what is called a “51% attack.” This gave them the ability to double spend ETC coins—basically spending a newly created coin and then forking the ETC blockchain, allowing them to cancel the transaction and be able to spend that coin again. Called a deep chain reorganization,…

  • Coinbase
    Alt coins,  Cryptocurrencies

    Coinbase considers adding 5 more cryptos

    Cardano, BAT, Stellar Lumens, Zcash, and 0x all rally significantly on announcement

    Coinbase sent several cryptos rallying after it announced on Friday that it was exploring adding five more cryptocurrencies to its list of tradable assets. The exchange, one of the most popular for retail traders, said it looking at Cardano (), Basic Attention Token (), Stellar Lumens (), Zcash (), and 0x (). Cardano and Stellar Lumens were up over 9.5 percent following the announcement, according to data from CoinMarketCap. The runts of the litter did even better the smaller they were: Zcash soared over 14 percent, BAT shot up 22 percent, and 0x rocketed 27 percent. A month ago, Coinbase added Ethereum Classic () to its roster. In its statement…

  • SEC
    Bitcoin,  Ethereum,  Politics,  United States

    Timing of Coinbase move to add Ethereum Classic raises eyebrows

    Token joins coveted shortlist but causes some to wonder about a heads up from SEC

    Holders of Ethereum’s ether token () breathed a sigh of relief last Thursday when William Hinman, the SEC’s director of corporate finance, announced at a Yahoo Finance summit that ether is not a security. Many were not just heartened by the development but surprised, since the currency had clearly been released as a way to fund operations, which those following the developing regulatory picture consider a warning sign. But at least one party with a lot riding on Ethereum’s success doesn’t seem to have been caught off guard. Coinbase, the largest U.S. exchange, appears to have been anticipating the move, leading some industry insiders to wonder just how closely the…