Exchanges are updating due to Intel vulnerability

Hackers can steal data from billions of devices connected to the Internet, from smartphones to servers
05 January 2018   632

Computer bugs are found quite often and few people are surprised, but the critical vulnerability recently found in Intel processors has become a sensation. With its help, attackers can steal data from billions of devices connected to the Internet, from smartphones to servers.

Holders of cryptocurrency, which have become a favorite target of hackers, have all the reasons for concern. Vulnerability can also be affected by cloud services, which are often used by crypto-currencies, experiencing increased loads amid a rapid increase in the number of traders.

While Microsoft and Amazon eliminate vulnerabilities in their cloud platforms, crypto-currency exchanges are experiencing service disruptions. 

Several exchanges, including Einstein Exchange, CEX.io and Kucoin, also temporarily suspended service. Some of them specified that interruptions are related to the vulnerability of Intel, while others simply reported technical work.

The manufacturer of hardware wallets Ledger wrote that his device does not affect this vulnerability. 

Intel's bug has one more negative effect: as a result of the update, the performance degradation of devices can reach 30%. At the same time, this problem will not affect miners, since the process of mining the crypto currency does not require the fulfillment of a large number of requests to the core of the processor.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   39

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.