Blockchain storage provider SIA scoops $400k grant

Nebulous the firm behind Sia has been awarded a $400,00 grant from China-based investment firm INBlockchain.

In a press release the company stated that the funds will be used to aid further development of the SIA platform, which has been rumoured to be struggling with funds over the last few months.

“We are thrilled to receive INBlockchain’s generous grant and look forward to continuing Sia development,” said David Vorick, cofounder and CEO of Nebulous.

“This grant means Sia does not need to focus on fundraising, and can focus entirely on delivering strong technology.”

Sia’s technology is based around decentralising file hosting through the company’s own Blockchain which manages smart-contracts for the renters looking to host files and the hosters who provide storage space at a flexible cost.

The company aims to be the backbone storage layer of the internet.

At the time of writing Siacoin is priced at $0.007479 with a 24 hour trading volume of $10,923,300, although the price is around 40% down over the last 7 days.

Thousands of Austrian post offices will soon sell Bitcoin

Nearly 2,000 post offices across Austria are planning to facilitate the easy purchase of Bitcoin and other digital currencies for customers.

The partnership between Austrian-based digital currency platform Bit Panda and the national post office Österreichische Post AG will bring cryptocurrencies to the masses, taking away the complex process of buying them.

Cash amounts of 50, 100 and 500 Euro can be exchanged for the required cryptocurrency at participating Post Offices, customers will then receive a digital code to access their wallet at Bit Panda.

Bitpanda is considered to be one of the largest Bitcoin platforms. It was founded in Vienna in 2014 and currently has over 300,000 users.

Bitpanda is hoping – also thanks to the post-cooperation – to grow to a transaction volume of 200 million euros.

“Digital currencies will become central points in our daily lives, but they are not in conflict with classical currencies,” says Bitpanda co-founder Eric Demuth in a press release.

Billions stolen from South Korean Bitcoin exchange

Bithumb, the fourth largest Bitcoin exchange in the world was recently hacked resulting in Billions of Won being stolen.

According to the Korean Internet & Security Agency (KISA), earlier this year personal computers owned by staff at the exchange were infiltrated by an unknown 3rd party. Personal information was exploited by the hackers to obtain access to more than 3,000 individual accounts. Servers located at Bithumb’s headquarters were not comprised.

“It is an accident caused by an external infringement on the personal computer of the employee who is not related to the server of the head office.” “Some users Personal information leaked, he explained. However, some customers were found to have been stolen because of the disposable password (OPT) used in electronic financial transactions.” said Dr. Bitsum

Bithumb is South Korea’s largest virtual currency exchange, with annual transactions worth hundreds of billions of won. The cumulative amount of Bitcoin traded at Bithumb last year reached over 2 trillion won.

Bithumb’s 24 hour trading volume on the 4th of July exceeded 100,000 Bitcoin.

https://www.bithumb.com/

On June 29th 2017 Bithumb was made aware of the hack and subsequently reported it to the authorities a day later. At the time of writing hundreds of Bithumb customers no longer have access to their funds and have filed a complaint with the National Police Agency’s cybercrime report center.

Bithumb have promised to compensate its users for loss of personal information amounting to $870 per user (despite losses exceeding this amount), although the company is still investigating and has also hinted at further damages being announced.

Once made aware of the issue the exchange acted quickly in reporting to three government and state agencies. It is still unclear how widespread the damage is.

Due to the laws surrounding Bitcoin and digital currencies in the country it is not yet known if Bithumb will be facing any criminal charges.

XBT Provider announces agreement with Bitcoin firm Xapo

XBT Provider AB has announced a custodial partnership with Xapo, a firm well know across the cryptocurrency industry revolutionising the possibility of spending cryptocurrency via traditional debit cards.

Bitcoin held in cold storage on behalf of investors in XBT Provider’s ETN will now be secured by Xapo.

XBT Provider has surpassed $100 million in assets under management.

“The team of professionals at XBT Provider has deep expertise in digital currency and extensive experience in financial services. We are excited to partner with them as they make bitcoin broadly available to investors outside of the U.S.,” said Wences Casares, CEO of Xapo.

XBT Provider recently announced their fund on the UK’s largest stock exchange Hargreaves Lansdown, giving investors the ability to purchase Bitcoin as an ETN.

UK’s largest broker offers Bitcoin investment without the fuss

Hargreaves Lansdown the UK’s biggest investment website allows anyone to invest in Bitcoin

The UK’s biggest financial investing website is now offering the non technical savvy the opportunity to invest in Bitcoin.

Customers who have a general trading or self-invested pension fund with Hargreaves Lansdown can now buy into a tracker that follows Bitcoin without the fuss.

ETNs are funds listed on the stock exchange, so they can be bought and sold like shares. They are denominated in Swedish krona and investors should be aware of the currency risks, as well as those attached to bitcoin itself.

“By adding self-service, online dealing, the team at Hargreaves Lansdown is providing UK investors with professional and quick access to the bitcoin space in the UK and greater Europe. This is very exciting for any investors who have been thinking about buying bitcoin but did not want the hassle of security and regulation involved in buying bitcoin directly from exchanges. Now investors can quickly add bitcoin exposure to their portfolio via their brokerage account.” says Ryan Radloff, Head of Investor Relations for XBT Provider, AB.

At the time of writing the price of Bitcoin currently stands at $2,443 / £1,895 / €2177 / 21247 SEK

ARK CryptoCurrency unveils new Testnet with mobile and desktop clients.

Ark CryptoCurrency unveils their public Testnet along with both mobile and desktop clients – setting another first in the industry, after already releasing the ARK code to github, all while their TEC (Token Exchange Campaign) is still running.

The ARK Crew, the development team behind the ARK Ecosystem, has announced the release of their first publically available test network. The ARK testnet will be an alpha release featuring custom, open source mobile and desktop clients, as well as many updates to the core voting mechanism and network technology behind their dpos algorithm.

Read more: http://www.pressat.co.uk/releases/ark-cryptocurrency-unveils-new-testnet-with-mobile-and-desktop-clients-1b3460a6389966f59731aed27c51185c/

Tonybet Leads The Gaming Market By Accepting Bitcoin Allows Deposits In Bitcoin While Playing In Regular Currencies

With Bitcoin establishing its presence in the online gaming market, Tonybet.com started accepting deposits in digital currency.

An all-around online gaming site has announced it has partnered up with the SpectroCoin e-wallet to become one of the first recognised and well established gaming sites to accept Bitcoin. The site will allow its players to deposit and withdraw funds in Bitcoin, but will convert them to regular currencies while in-play – a feature absent from most sites accepting digital currencies.

The site officials said their intension was to make Tonybet more accessible to a wider range of potential players. However, the introduction of the new payment method had a bigger impact than they anticipated as a number or new signups went up.

Tonybet.com spokesman Warren Lush said: “We’re always keeping up with the latest digital innovations in order to adapt them to our online gaming platform. With the introduction of Bitcoin deposits we saw a dramatic increase in recreational punters and poker players especially from the Asian countries who have been struggling to transfer their funds before.”

“Another advantage of using Bitcoin for online gaming is that users can also speculate the exchange rates and earn extra. The fast and easy deposit and withdrawal process makes this an even more attractive feature. What’s more is that partnering up with SpectroCoin we not only opened our online sportsbook, casino and poker site to those who wanted to use their digital currency for online gambling, but also encouraged customers to exploit the advantages of using Bitcoin.”

About TonyBet.com

TonyBet.com was founded in 2009 by world famous poker pro, businessman and politician Tony G. The company is now one of the fastest growing betting and online gaming companies in the world. For more information see Tonybet.com

About Spectrocoin

SpectroCoin is an all-in-one solution for Bitcoin. Services offered include a wide range of Bitcoin solutions, from exchange to Bitcoin e-wallet. SpectroCoin builds its business policy on Bitcoin’s philosophy of making financing quicker, frictionless and flexible. The service provides a solution for each client’s needs instead of asking them to adapt to us. That includes every aspect of services, starting from the number of payout methods to the range of support languages available. For more information see Spectrocoin.com

Britain’s welfare Blockchain sparks privacy concerns

A trial to pay Britain’s welfare claimants using blockchain technology has come under fire by the Open Data Institute.

The Department for Work and Pensions also know as DWP initiated initiated trials with GovCoin Systems earlier in June to pay benefits directly to claimants using a Blockchain system, the same technology behind the decentralised currency Bitcoin.

The Open Data Institute founded by Sir Tim Berners-Lee and Sir Nigel Shadbolt said the system was ‘very concerning’.

The Blockchain provides both complete transparency and security of transactions but also opens up the ‘Big Brother’ discussion as it would allow the DWP to monitor every penny spent by claimants.

Police Freeze Japanese Bitcoin Exchange’s Bank Account

Japanese Bitcoin exchange CoinCheck has temporarily suspended a large proportion of customer withdrawals due to the Metropolitan Police Department freezing their main bank account.

The exchange currently utilises the services of three banks in Japan, but cited in a company announcement that their main bank ‘Rakuten bank’ held the lions share of customer funds.

It is not yet clear why the police have frozen the exchange’s bank account as they are waiting for an official response.

Bitcoin is currently trading at 1,348.89 CNY

CoinCheck launched in September 2014 and has ambitious plans to capture the Japanese Bitcoin scene.

BitMarket Thief Arrested By Polish Cybercrime Unit

The Polish Cybercrime Unit based in Krakow have announced the arrest of a 28-year old man in connection with the theft of around 85,000 PLN from Polish Bitcoin exchange BitMarket.pl

Working from a tip off, the Cybercrime Unit began tracking the perpetrator and subsequently arrested computer scientist ‘Raphael W’ – who according to the police manipulated the BitMarket software to illegally withdraw around 85,000 Zloty or £15,000 Sterling.

The official notice was posted on the Provincial Police Headquarters website but was unclear with regards to how exactly the theft took place and what has happened with the money.

The perpetrator was arrested for breaking the Computer Fraud Act – Art. 287 of the Penal Code with a maximum imprisonment of five years in jail.

Customers of the Polish Bitcoin exchange recently voiced concerns regarding the theft of coins from their wallets.

The exchange recently lost their banking partnership with Bank BPH.

CoinSpectator has reached out to Polish Cybercrime Unit and awaiting a reply.

bitmarket police thief arrest