CoinShares Group Launched Two Flagship Funds

CoinShares Group, the group provider Bitcoin and Ether exchange traded notes has announced two new flagship crypto investment funds, Active and Large Cap Funds, on January 23
23 January 2018   991

CoinShares group is focused on delivering the most fit-for-purpose crypto investment vehicles to market, having the aim to continue the track record of ‘firsts’ and build structures which allow for yet un-tapped pools of investment capital to access the emerging market of crypto-assets.

On January 23 CoinShares announced two new flagship crypto investment funds.

  • Active Fund - a multi-coin, alpha-generating, active strategy
  • Large Cap Fund - a passive, large-cap, basket fund, which represents a natural evolution of market approaches based on the current trajectory of the crypto-asset economy

As a group, we have developed a deep expertise in bringing new, fit-for-purpose crypto-investment products to market; products which offer traditional investors proper, familiar channels to access the crypto-asset ecosystem. We are particularly excited for these two new funds as they represent the latest evolution of our expertise and are built on key learnings from the last three years of managing crypto-asset investments.
 

Daniel Masters
Chairman, CoinShares

Moreover, CoinShares Group announced the appointed representative relationship with Sapia Partners LLP, part of the Lawson Conner Group, stating that the crypto-finance community should seek more regulation, and the London office was a proper step in following that belief. 

Bitcoin Gold hit by Malicious Miner`s Double Spend Attack

An evil-minded miner efficiently made a double spend attack on the Bitcoin Gold network, making BTG at least the third altcoin to succumb to a network attack
23 May 2018   124

Edward Iskra, Bitcoin Gold director of communications first admonished clients about the attack on May 18, reporting that an evil-minded miner was using the exploit to steal means from cryptocurrency exchanges.The miner bought at least 51 percent of the network’s total hashpower, which provided them with temporary control of the blockchain. Gaining this much hashpower is extremely expensive — even on a smaller network like bitcoin gold — but it may be monetized in tandem with a double spend attack.

The attacker, after getting the control of the network, started depositing BTG at crypto  exchanges while also intending to send those same coins to a wallet under their control. Generally, the blockchain would resolve this by including only the first transaction in the block, but the attacker managed to reverse transactions as they had majority control of the network.

As a result, they were able to invest funds on exchanges and withdraw them again soon, after which they repealed the initial transaction. This way they could send the coins they had primarily deposited to another wallet. 

An address of bitcoin gold connected with the attack has got more than 388,200 BTG since May 16 (basically from transactions it sent to itself). All of those transactions were associated with the double spend exploit, the attacker could have stolen as much as $18.6 million worth of funds from exchanges. The last transaction was sent on May 18, but the attacker could resume it if they still have access to enough hashpower to reach the control of the blockchain.

Bitcoin gold’s developers recommended exchanges to resist the attack by reaching the number of confirmations acquired before they lended deposits to client accounts. Blockchain data displays that the attacker reversed transactions as far back as 22 blocks, allowing developers to advise raising confirmation requirements to 50 blocks.