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The Battleground Against Phishing Attempts

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11/10/2020 | Blog posts

Ledger users are under attack and targeted by a phishing scam (here is a link to understand the anatomy of a phishing attack).

Kraken Security Lab has done a great job at describing what’s going on and we appreciate their help in this matter.

Today, we want to let you know that Ledger is fighting hard to defeat the scammers. But we also want to let you know that we’ll be stronger together.

Help us #StopTheScammers.

The two main ideas you should leave with after reading this post are :

  1. NEVER SHARE YOUR 24 WORDS WITH ANYONE. EVER.
  2. HELP US TAKE THE SCAMMERS WEBSITES DOWN

The best way to stop the scammers is to take their websites down as quickly as possible. Here’s how you can help:

  • Spread the word: talk to your friends and your communities and let them know that they must never share their 24 words with anyone under any circumstances, Ledger will never ask for their 24 words. No one should ever ask you for your 24 words… It’s a secret that only you should know!!!
  • If you have received a phishing attempt or if you are aware of an illegal website, like the ones above, please report it to Google Safebrowsing. The more we report these illegal websites to Google, the more difficult it will be for scammers to deceive our Ledger users.
  • If you have received a phishing attempt, you can file a complaint with your local criminal authority.

Phishing scams are one of the critical problems in cybercrime. The Ledger community will be better protected if we all work together.

When you find a scam, report it to the community: #StopTheScammers.

We understand the stress and uncertainty these phishing attacks may be causing you. We want to assure you that our team is doing everything in our power to stop these attacks. 

What is our team doing ?

  • Members of our Donjon security team are continuously tracing the scammers’ new website URLs, so that we can  share the necessary technical information for the relevant authorities.
  • Managing and updating an on-going criminal complaint through the French Public Prosecutor to enable the police force to identify and prosecute those responsible.
  • Subpoena request forms in the US and in France to obtain from the internet intermediaries and communications operators full disclosure of the identity of the responsible. 
  • Reaching out to international cyberdefense organizations to bring the case to their knowledge. This is a way to increase the magnitude of this complaint by using these international cyberdefense organizations enormous and transnational capabilities.
  • Our brand protection internal and external teams are reporting illegal  websites  to abuse contact of the registrars. Within the last few weeks, 87 websites have been reported and 42 shutdowns. Some registrar fail to be reactive which explains why websites are still active despite Ledger notifying them several times following the abuse procedure. 
  • Communicating with our customers and community, answering thousands of questions and updating users with new information as it is available through our support center, Twitter, Facebook, email, Reddit, etc. 

We will be stronger together.

#StopTheScammers



Source: https://www.ledger.com/the-battleground-against-phishing-attempts

Blockchain

Marathon invests $150 million in Bitcoin

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Bitcoin mining firm Marathon has purchased 4,812.66 BTC for a total of $150 million, according to a press release shared with Coin Rivet.

The Nasdaq-listed company executed the trade in collaboration with financial services provider NYDIG.

“By purchasing $150 million worth of Bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class.

“We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy,” said Merrick Okamoto, Marathon’s chairman & CEO.

Okamoto goes on to state that Marathon is contracted to purchase 103,060 miners that will be fully operational by the end of the first quarter of 2022.

Robby Gutmann, co-founder and CEO of NYDIG, added: “We deeply admire Marathon’s commitment to the Bitcoin ecosystem, and we are very pleased to add them to the list of companies who utilise NYDIG as the institutional choice for Corporate Treasury Solutions.

“NYDIG is uniquely positioned to help corporations navigate the challenges they face around executing and structuring the holding of large Bitcoin positions, and our ability to deliver Marathon a tailored and custom solution, with a quick turnaround, and no market impact, is why corporations and insurance companies choose NYDIG.”

Marathon is the latest in a long list of companies to put respective balance sheets into Bitcoin, with MicroStrategy holding more than $1 billion while Square purchased $50 million late last year.

For more news, guides and cryptocurrency analysis, click here.

Source: https://coinrivet.com/marathon-invests-150-million-in-bitcoin/

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PayPal allows Bitcoin and cryptocurrency transactions

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Just a few years ago, Paypal used to categorically oppose Bitcoin as a payment method. For those who used to buy Bitcoin during the prior bull run, in 2017, you might remember the large interest of Paypal users in finding ways to obtain cryptocurrency. Paypal did not only take an opposing stance but they even closed accounts associated with cryptocurrency purchases.

 

Fast forward to 2020, and we are seeing an incredible development taking place – Paypal finally supports cryptocurrency transactions. While the new feature of the payment system is only a few weeks old, many people are not yet aware of the specifics. And that’s exactly why we wrote this article.

 

Over the next few paragraphs we will break down the new offer of Paypal, and how it affects the industry as a whole. Let’s get started.

Paypal enables cryptocurrency storage

As of November 2020, users are now able to purchase Bitcoin, Ethereum, Litecoin and Bitcoin Cash directly through Paypal.

 

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Now you can buy, hold and sell <a href=”https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw”>#Crypto</a> with PayPal. Start with as little as $1 in the PayPal app today. Terms apply. <a href=”https://t.co/ydl63Q5kGB”>https://t.co/ydl63Q5kGB</a> <a href=”https://t.co/ArZP2FgrSk”>pic.twitter.com/ArZP2FgrSk</a></p>&mdash; PayPal (@PayPal) <a href=”https://twitter.com/PayPal/status/1330919854724026373?ref_src=twsrc%5Etfw”>November 23, 2020</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

 

The offer initially rolled out for users who reside in the United States, and was later enabled to more than 380 active Paypal users around the globe.

 

Here’s how the process works:

  • Users can select to either buy or sell the cryptocurrency they want from the dashboard of Paypal.
  • After making a purchase, the coins remain in their account and cannot be transferred elsewhere. Paypal thus offers “paper crypto”, also known as a representation of cryptocurrency backed by the real asset.
  • Due to being unable to transfer the funds. Users are eventually prompted to sell their coins back to the platform.
  • While this limits the use of cryptocurrency obtained through the platform there is some great news as well. Until 2021, users do not need to pay any fees when buying or selling coins through the platform.

 

So is this a good thing for the growth of the industry?

Many claims that the somewhat “centralized” approach that Paypal adopts when it comes to cryptocurrency transactions gives the wrong message towards the public. Several authoritative cryptocurrency investors believe that new users should be able to use their coins as they please, and not be forced to hold onto them within the platform of Paypal.

 

However, there are some very good news for the industry as well. These are the developments you need to keep in mind as we are entering 2021 with a nearly fully recovered Bitcoin:

1.   Paypal now buys ±70% of all new BTC

Since their recent announcement, more than 20% of Paypal’s users have already bought some form of cryptocurrency. To support this extremely large user demand, Paypal is now forced to purchase nearly 70% of the daily minted supply, which equals roughly to 630 BTC. This move sharply increases the difficulty of obtaining new Bitcoin, which in turn increases its scarcity and price.

2.   Paypal improves accessibility to crypto

New technologies always take time to develop, especially when the majority of people are not very accustomed to decentralized technology. Paypal’s decision to support cryptocurrencies massively expedites this process, making the UX/UI issues disappear. Every Paypal user has now full access to cryptocurrency and can purchase however much they like.

3.   Cryptocurrency will soon be used when paying all Paypal-supported merchants

Starting from early 2021, Paypal users will be able to use their cryptocurrency to make payments to all 26 million merchants that support the payment system on a global scale. This brings cryptocurrency one step closer to being adopted as a fully capable and globally adopted payment system.

Wrapping up

Paypal’s move towards cryptocurrency support and mainstream adoption makes perfect sense when looking at the recent economic and geopolitical developments. With Bitcoin making a full recovery over the past two years, there is now concrete proof that cryptocurrency is here to stay. Those who welcome new technologies will be the ones that benefit most from it, and Paypal seems to have a low time-preference when it comes to their enhanced business model.

For now, we will need to patiently wait until more payment systems and institutions decide to join the BTC revolution. Who knows what the future may hold? We may soon see Bitcoin climbing to new highs, satisfying even the most demanding Paypal users.

Source:

Santa

Cryptocurrency Journalist

Santa is a Latvia-based cryptocurrency journalist with a passion for covering the latest happenings in the cryptocurrency and tech world. In addition to being the analytics specialist of Paybis, Santa is also into consulting, reading,

 

 

 

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Blockchain

Bitcoin: Has the bull market faded?

2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, wi

The post Bitcoin: Has the bull market faded? appeared first on AMBCrypto.

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2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600).

However, does the reversal signal the end of the bull run or the start of a wider scale correction akin to what happened in January 2018? Or, as most traders would have it, is Bitcoin’s price finally stabilizing above its previous ATH and maintaining much of the gains it raked up since December 2020?

Source: Santiment

Interestingly, Bitcoin’s social volume metric can help elaborate on what happened, with the world’s largest cryptocurrency enduring a price correction amounting to close to 10 percent.

Santiment’s data showed that as Bitcoin fell to $31.1k, its social volume – a metric that helps traders determine the market sentiment and where the price will head in the short-term – increased and registered a 6-day high. Given the increased demand for Bitcoin over the past few months, from both retail and institutions, it wasn’t much of a surprise that many saw the dip in price as an interesting buying opportunity.

Source: Santiment

On the other hand, there have been certain caveats to Bitcoin’s positive sentiment. What was noticed according to the data provider was that there was a sudden surge in negative commentary around Bitcoin. While a major share of the market seemed to have its faith in Bitcoin unshaken, Santiment’s data also hinted at the fact that a bigger price correction cannot be overlooked for the king coin. While it is unlikely that a drop to its November 2020 valuation is going to happen, a further dip that takes Bitcoin’s price below $30k cannot be discounted.

However, there are still strong bullish signs that one needs to consider before coming to any substantial conclusions regarding Bitcoin’s fortunes in the coming weeks and months.

Hodlers have traditionally played a key role when it comes to Bitcoin maintaining its price and securing significant returns for its investors. According to Glassnode’s Liquid Supply Change charts for Bitcoin, the crypto’s price continues to be fairly secure, with the same revealing that a large-scale dip on the charts looked quite unlikely.

Source: Glassnode

According to the data provided, Bitcoin is seeing the largest depletion of liquidity in a few years, with a majority of the Bitcoin being moved from exchanges into non-exchange entities that are to be hodled for long periods of time. This is a very important aspect of Bitcoin’s 2021 price action and can back up the argument that Bitcoin’s price is going to hold its ground without losing much to the bears in the coming weeks.

In the past month alone, a whopping 270,000 Bitcoins have moved to entities considered HODLers. With the backing of large accounts that continue to hodl, Bitcoin may see occasional dips and corrections, but the bullish market momentum is likely to remain and help stabilize the coin’s price.

Source: https://ambcrypto.com/bitcoin-has-the-bull-market-faded

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BTC Price Will Replace S&P 500: Michael Saylor

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin. After BTC Replaces Gold As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven … Continued

The post BTC Price Will Replace S&P 500: Michael Saylor appeared first on BeInCrypto.

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Michael Saylor sees bitcoin, the ideal institutional safe haven asset, replacing stock indices.

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin.

After BTC Replaces Gold

As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven asset. He sees it as replacing gold.

Besides Saylor, Deutsche Bank, JPMorgan, Blackrock, and others see BTC as affecting the gold price or replacing gold as an asset. However, Saylor took his prognosis a step further and said that BTC could replace stock indices such as the S&P 500 or the Dow. Cash-rich corporations are “saying that cash is a liability; they have to find an asset that’s going to appreciate faster than the rate of monetary expansion.”

After that occurs, bitcoin will find itself even further integrated into the business world. It will become the monetary index that replaces stock and bond indices such as the S&P 500 and the Dow. “People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.”

People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.

70,784 BTC, +/-

Saylor’s CNBC interview came as MicroStrategy announced that it had bought another 10,000. This takes the company’s total bitcoin holdings in its reserves to about 70,784 BTC. MicroStrategy bought this latest round of 314 bitcoin at an average of $31,808 per coin. 

An IT company with a twist

MicroStrategy is still a business intelligence and professional services company. However, Saylor and his team use bitcoin as a store of value for an increasing portion of the corporation’s treasury. As CNBC notes, this results in the company’s stock price tracking bitcoin’s. “It’s almost become a stock market proxy for crypto,” said host Morgan L Brennan.

When Brennan asked Saylor about this, he noted that because companies want to convert the liability of cash into an asset, they will do one of two things. Many will do what MicroStrategy has done. They will directly purchase bitcoin. Others will go the route of Square and Paypal, and will build bitcoin into their product offerings.

Moreover, Saylor noted that the company’s employees are “pretty delighted” with the company’s moves, as they are “pioneers” in terms of utilizing this technology.

Disclaimer

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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Source: https://beincrypto.com/__trashed-4/

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