Wayniloans leaves SegWit2x NYA Bitcoin agreement

Another company withdraws its support for SegWit2x leaving NYA Bitcoin agreement 
20 September 2017   732

Segregated Witness is the process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain. 

Now, SegWit has locked-in and the Segwit2x working group has announced its roadmap for the next several months. The team of developers have detailed they are going forward with the 2MB block size increase that miners and businesses agreed upon at the New York Agreement.

However, another company withdraws its support for SegWit2x leaving NYA Bitcoin agreement. Thus, Bitcoin peer-to-peer lending platform Wayniloans made the announcement indicating a change in their minds. Wayniloans co-founder Juan Salviolo claims that, when they signed the NYA, they did not realize how contentious the scaling proposal would be. Specifically, they cited concerns that Core developers universally oppose it and that it is unpopular in Latin America.

On Wayniloans part or our business is achieved thanks to Bitcoin, and on May we agreed to a sentence to reach consensus for the good of the ecosystem….At the time we didn’t know that existing developers wouldn’t support it, or that most Latin American Bitcoin users, our customers, would view it as an contentious proposal. <...> Also, without mandatory replay protection (not opt-in) on SegWit2x, we wouldn’t be able to operate the crypto part of our business without risk of missing funds or legal actions.

Juan Salviolo
Wayniloans co-founder

Wayniloans criticizes NYA proponents for not implementing mandatory, opt-out replay protection, which would prevent attackers from broadcasting transactions on both blockchains and stealing coins from unwitting victims.

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.