Vulnerability found in IOTA

The researches report on the vulnerability found in IOTA cryptocurrency
08 September 2017   2078

The researchers from MIT Media Lab Digital Currency Initiative (DCI) report on the vulnerability found in IOTA cryptographic hash function. IOTA team provides its customers with this information via their social media:

As reported, the IOTA developers themselves agree with the conclusions of DCI only partially. At the same time, the report says that the creators of the cryptocurrency have already released a corresponding patch, eliminating the identified shortcomings. 

Neha Narula, Director and Digital Currency Initiative at the MIT Media Lab, believes that thanks to the newly discovered vulnerability of IOTA, attackers could destroy or steal users' funds.

You might think that IOTA, a cryptocurrency worth over a billion dollars, and working with organizations like Microsoft, University College London, Innogy, and Bosch, BNY Mellon, Cisco, and Foxconn (through the Trusted IOT Alliance) would not have fairly obvious vulnerabilities, but unfortunately, that’s not the case. 
 

Neha Narula
Director and Digital Currency Initiative at the MIT Media Lab

The price of the digital currency is reducing due to the information about the vulnerability found.

IOTA on the coinmarketcap.com chart IOTA on the coinmarketcap.com chart

Thus, at the time of writing, IOTA cryptocurrency price is about $0.53.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   132

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.