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VeChain Price Drops 10% After a Hack Attack

June G. Bauer

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Vechian hack

The Singapore-based VeChain Foundation (VET) has announced that their buyback address was compromised at 12:27 pm ET on Friday. 1.1 billion VET tokens, that worth around $6.4 million, were transferred to the address 0xD802A148f38aBa4759879c33E8d04deb00cFB92b.

The stolen coins are worth 2% of VeChacin’s entire coin supply.

All the addresses associated with the said hacker’s address have been tagged on VeChainStats, the list is automatically updated as soon as the hacker sends any funds from the original hacker’s address.

Quoted from VeChain Foundation’s announcement

The foundation has notified all exchanges to monitor, blacklist and freeze any funds coming from the hacker address, and it will launch a full scale investigation into every fact around the address to determine the motive, method, and data flow behind this security incident.

The foundation attributes the hacking to a human error within the foundation and has since corrected the error and protocols, the firm said.

After the announcement, VET lost around 10% of its value. VET’s price dropped from $0.006594 to as low as $0.005770 in couple of hours.

TradingView Price Chart

What is VeChain?

VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes. By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought.

VeChain (VET) Price Chart

*Charts data were provided by CryptoCompare.


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Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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OKEx Exchange Adds Basic Attention Token

Sying Tien

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OKex-Adds-BAT-token

Basic Attention Token (BAT) has been added to OKEx cryptocurrency exchange. BAT tokens deposit has been enabled today and token trading will be enabled tomorrow. This is a great news for BAT community as OKEx is ranked among the top 15 exchanges with a daily trading volume of $1,519,756,182.

OKEx is a Malta-based cryptocurrency exchange. It was founded in 2017 by Star Xu.

What is Basic Attention Token (BAT)?

Basic Attention Token (BAT) is a digital advertising token which is built on the Ethereum blockchain. BAT project was created by Brendan Eich the creator of JavaScript and a co-founder of Mozilla foundation.

BAT is utilized within the Brave browser which is an opensource cryptocurrency based web browser that allows users to earn Basic Attention Tokens (BAT), by browsing and publishing content. BAT can be used to pay content creators and publishers through tips by their fans and users will also earn BAT cryprocurrency for viewing ads.

BAT/USD Price

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IOTA Releases an Updated Wallet To Fix Trinity’s Security Vulnerability

M. Ali

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IOTA Hack

IOTA’s team has released an updated version of it’s own Trinity wallet to fix some serious security vulnerabilities that allowed hackers to exploit Trinity wallet that was released by IOTA last summer. The new updates is available for Trinity Desktop, Android and IOS

Almost all IOTA’s users who have opened any version of Trinity (Desktop or Mobile) since the 17th of December 2019 are affected by this attack. Yet, only 10 wallets were hacked if not more.

A Reddit post about the recent attack

Iota team said that they are working with law enforcement and cybersecurity experts to track down the attackers. Yet, IOTA has revealed very few details about the attack.

A large amount of IOTA tokens have been stolen. The team predicts that $300,000 to $1.2 million worth of IOTA has been stolen so far. According to IOTA’s Team, the hack started on or around 25 January 2020 and that only Trinity Desktop users’ seeds were potentially compromised.

IOTA will implement a KYC procedure involving a third party that will enable all users who had their tokens stolen to reclaim them.

What is IOTA?

IOTA is a free and scaleable transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a novel distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system.

IOTA USD price chart for the last 7 days:

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Enjin Goes Live

Sying Tien

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Enjin-Goes-Live

Enjin (ENJ) , the blockchain gaming platform is now live on Ethereum Mainnet. Enjin project is a robust, all-in-one blockchain game development platform that helps developers crowdfund, grow, monetize, and design the digital world of their dreams.

To celebrate the public launch of the new Enjin Platform, Enjin will be giving away limited-edition collectibles, ENJ based gaming assets and 50,000 Enjin coins.

Enjin has its own marketplace EnjinX, where users can buy/trade any ERC-1155 assets to used in Enjin based games. The market is currently charging 2.5% trading fees.

Last year, Enjin announced a partnership with Samsung that integrated ENJ technology with Samsung Galaxy S10 models. This announcement sent the price skyrocketing and created a major media buzz for Enjin Coin (ENJ).

All assets/items created using Enjin’s development platform are backed by a nominal amount of Enjin Coin (ENJ) to certify their authenticity. The Enjin Coin ICO was held in 2017, raising approximately $22 million worth of ETH.

Enjin (ENJ) Coin Price Chart

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