an Israeli-based “decentralized” cryptocurrency exchange Banchor has lost ~$13.5 million in a security breach. Hackers compromised a wallet, which facilitates cryptocurrency trading, and withdrew Ethereum tokens, NPXS, and Banchor’s own token BNT. The company froze the $10 million of its own tokens (BNT) to mitigate the damage, and it claimed that no user wallets were compromised by the attack. Some people pointed out that Banchor’s response proves it is not decentralized, because a company can freeze the tokens and take down the platform. Reminder: Bachor ICO raised $153 million in June 2017.
EOS New York
a top 21 EOS Block Producer (BP), stated on Twitter that some BPs crashed when RAM usage on EOS exceeded 1GB, because they either had 1GB or didn’t configure their nodes properly, which is a violation of the reg producer agreement. Some users said that community needs to know which PBs aren’t operating their nodes correctly.
🐉Bullish: Singapore-based non-profit organization Litecoin Foundation has partnered with TokenPay (TPAY), a Switzerland-based cryptocurrency payment platform, to acquire a 9.9% stake in German bank, WEG Bank AG. TokenPay has options to purchase ~90% overall of the bank pending the custody regulatory approval, because under current German banking law, no entity can own more than 9.9 percent of any bank without legislative support. If TokenPay earns the approval it needs, the company can purchase the rest of the bank’s shares and add several hundreds thousand customers to its new debit card solutions platform.
Ledger Release and Bugs
A world’s leading company that specializes on cryptocurrency hardware wallets, has released a new all-in-one destop app Ledger Live for Windows, Mac and Linux. The new software is replacing the old system of multiple Chrome-based apps. Ledger Live is more user-friendly and eliminates the need to switch between different apps for different cryptos. However, multiple bugs have been reported on GitHub and Trello board, so it might be wise to wait for a few weeks before moving large funds via Ledger Live.