Blockchain Says Sorry: Offers to Give Back Lost Funds
Blockchain.info is apologizing to digital currency users who lost a total of 250 bitcoins following a security lapse that took place on Monday, December 8th, and the site is now working hard towards reimbursing any and all whose funds may have disappeared. Blockchain's latest blog post states: "When making a scheduled software update overnight to our web-wallet, our development team inadvertently affected a part of our software that ensures private keys are generated in a strong and secure manner. The issue was present for a brief period of time between the hours of 12:00am and 2:30am GMT....
Related News
Estimates suggest 20% of Bitcoin’s supply has been lost. Are these funds a donation to everyone else, or a challenge to further adoption? Cryptocurrency custody solutions have become a big business over the last few years. Independent storage and security systems meant to hold large quantities of crypto on behalf of clients can bring in institutional capital and retail investors waiting on the sidelines simply because they remove a major fear: losing access to funds that become unrecoverable.Because of the decentralized nature of major blockchains like that of Bitcoin or Ethereum, whenever....
A white-hat hacker who was able to take 255 BTC from Blockchain wallets following a security flaw earlier this week has returned the funds. Bitcoin Talk member 'johoe', an account 1.5 years old but with only 21 posts, had always stated that he or she was taking the funds for safekeeping and would return them, writing on the forum: "There were a large bunch of new broken addresses today (several 100s in one day). I took the liberty of saving some funds before they got swiped by others. If you can convince me that they belong to you (signing a message with the address is obviously not....
It was recently reported that blockchain.info users had up to 250 bitcoins lost during a security lapse that took place during the early hours of Monday, December 8th. The site took full responsibility for the situation on Twitter, announcing that they were at fault and would work towards reimbursing any whose funds may have disappeared during the event. Now, what can only be described as a "hacker with morals" has come forward to confess that he had taken (and has now returned) the lost bitcoins. Going by the name 'johoe' on the popular forum Bitcoin Talk, the hacker explains: "There were....
Ethereum is in a state of crisis. “The DAO” (Decentralized Autonomous Organization), a code-based and leaderless investment vehicle that crowd-funded a record-breaking 150 million USD worth of ether, was unexpectedly drowned by an unknown hacker two weeks ago. About a third of all invested ether – some 4 percent of the total ether supply – is now sitting in a so-called “Child DAO”, waiting until it can be withdrawn in another two weeks from now. This presents the Ethereum community with a tough choice and three* main options. First, the community can decide to “do nothing” and allow the....
Charity initiatives are fine, but there is the little problem that charities need us to give them money, any kind of money, as they're not in the business of being that fussy, and getting people to give them money is not easy. I may have a solution, and I'm going to thank that great man, Benjamin M. Lawsky, the New York Superintendent of Financial Services, for giving me the idea. This idea potentially would allow the Bitcoin community to benefit from good publicity and, to be fair, we badly need that. For many years, there have been concerns about the existence of 'dormant' or' lost'....