Hackers Stole Around 14% of ETH and BTC Supply

According to Autonomous Research, in less than a decade hackers stole $1.2B in BTC and ETH
19 January 2018   1161

Lex Sokolin, global director of fintech strategy at Autonomous Research LLP said to Bloomberg that in less than less than a decade hackers stole $1.2B in BTC and ETH.

It looks like crypto hacking is a $200 million annual revenue industry. Hackers have compromised more than 14 percent of the Bitcoin and Ether supply.

Lex Sokolin

Global director of fintech strategy, Autonomous Research LLP

In addition, the theft of the сryptocurrency was a loss for companies and governments of about $ 11.3 billion - potentially it could be taxes and commissions from legal transactions, said WinterGreen Research CEO Susan Eustis.

Vulnerabilities are also subject to smart contracts. June 17, 2016, one of the most large-scale attacks in the crypto industry took place - due to a mistake in the code, the promising and very popular project The DAO lost more than $ 60 million.

Co-founder of Quantstamp Richard Ma believes that in part the fault is the old-fashioned thinking of programmers.

When you have a bug, you release a patch. With a smart contract, you deploy it to the network, and it’s not possible to ever change it again.

Richard Ma 

Сo-founder, Quantstamp 

However, according to him, this opens up new opportunities for companies specializing in cyber security. For example, in March, Quantstamp will release an automated tool for checking smart contracts for errors. In addition, established and well-known companies in this industry, including McAfee Inc., can also be redesigned to protect innovative systems.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.