‘Decentralized’ Crypto Exchange Hacked – $12.5M in Ether Stolen
Earlier this week, Israeli exchange Bancor became another victim to a crypto security breach – suffering a loss of approximately $24M worth of crypto.
The good news: The support team was able to secure some of the stolen funds in a quick and timely manner.
The bad news: Their team activated a feature of their smart contract allowing them to freeze the stolen BNT tokens.
News of this so-called “kill switch” – allowing the team to mitigate damages – quickly caused a wave of commotion throughout the crypto community as it meant Bancor wasn’t as decentralized as they had claimed.
📜 The Ten Commandments of Crypto Security
Early crypto adopters listen up: Security is something we have to always be aware of. Staying up to date with the latest updates and technology is a daily grind. Follow these ten commandments, and you’ll be way ahead of the game.
The Metal Detectors of the Digital Age
About a fifth of all bitcoin ($20B) is missing and likely to be never seen again. But what if some of that money could be recovered?
Certain firms are coming to the rescue to become self-proclaimed crypto hunters, but they won’t do it for free. Here’s the rundown. [paywall]
🔊 Leaked: China’s Richest Bitcoin Billionaire Foul-Mouthed Rant on Crypto ‘Cheaters’
A 50-minute recording of the controversial Li Xiaolai, an English teacher-turned venture capitalist, was leaked to the internet on July 4th.
Considered a celebrity in China (one of the first Chinese investors to publicly collect Bitcoin, and oversaw the biggest ICO in China’s history), Xiaolai made scathing attacks against some of the country’s biggest crypto start-ups, calling some scams and cheaters.
Needless to say, China’s crypto community wasn’t too happy about it. We’ve managed to find the English 📝cliff-noted version of what was said.
Ari Paul’s Updated 2018 Prediction Thread
In a small Twitter thread, one of our favorite fundamentalists Ari Paul talks about the good and bad calls he’s made so far in 2018… while also providing updates and further predictions for the second half of the year.
The Utility vs. Store of Value (SoV) Argument
Not buying into the relationship between store of value and utility? In this deep dive, Qiao Wang dives into the numbers that present a different yet interesting perspective.
The Precise Date Bitcoin’s Price Will Begin Climbing Higher
In this exclusive live event on July 19th, TV and radio host Glenn Beck will interview world-leading cryptocurrency trader, Teeka Tiwari in a special broadcast called: The Great Cryptocurrency Conspiracy of 2018.
As part of this event, Teeka will discuss the one trigger event that could ignite a second boom in cryptocurrencies before the end of this year and send Bitcoin to $100,000 (and smaller cryptocurrencies could go up much higher.)
🇲🇹 Malta to Host ‘World’s First ICCO’
Malta is officially the first country to establish a FULL regulatory framework for distributed ledger technology. And the recent passing of these three bills has played a huge role.
The favorable regulatory framework has opened for the doors for many exchanges and projects striving for this “legal certainty”.
Take Malta-based company Palladium… They just joined forces with leading exchange Bittrex to announce the first ever ICCO – allowing investors to convert tokens into company shares at a later date. Here are more details.
🇰🇷 South Korea Will Officially Legalize Cryptocurrency and Blockchain-Based Industries
After outlawing crypto trading and then rolling back some of its regulations, South Korea is gearing up to fully legalize trading once again.
CHART OF THE WEEK
POA Network (POA) has formed a nice reversal doji on the daily at the same support level from late June. We’ve got a double bottom in price action… a double bottom on the RSI… as well as a strong RSI trend. But this still remains as a high risk trade as the moving averages aren’t in our favor.
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