First SegWit transaction made on BitGo wallet

First Segregated Witness transaction carried out on a BitGo wallet
25 August 2017   1435

Bitcoin wallet BitGo developers report on the first SegWit transaction in the main Bitcoin network. Notably, BitGo started the updating of the software, designed to provide support for Segregated Witness, even before the activation of the protocol. 

Benedict Chan, Director of Engineering at BitGo, shares the news on his social media:

According to the company's report, as SegWit activates on the Bitcoin network, BitGo is to start to roll out SegWit to all BitGo wallets. The plan is to immediately launch with a few select customers while BitGo observes production operation. Assuming it works as expected for a few days, the company will release final versions of our SDK and begin rollout of SegWit to all BitGo wallets. 

BitGo Web Wallet users do not need to do anything to take advantage of SegWit as it will be automatically enabled. BitGo API customers can activate SegWit at any time by upgrading their copies of BitGoJS, BitGoD, and BitGo Express once the final SegWit-activated versions are released.

BitGo support team

Among the benefits that BitGo users will receive as a result of SegWit activation, the developers highlight these two:

  • BitGo’s multi-signature transactions will cost about half the fee that they used to cost prior to SegWit.
  • By enabling SegWit, you will be reducing the transactional weight of your transactions on the blockchain, freeing space for other transactions and helping Bitcoin scale.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.