Blockchain 

PIVX, Possibly Other PoS Chains Vulnerable to Bug, Attackers Profit

Private transactions cryptocurrency PIVX and over 200 other blockchains are vulnerable to a vulnerability allowing the attacker to obtain disproportionately high staking rewards. A major staking vulnerability Cryptocurrency consulting firm Lunar Digital Assets claimed in a post published on its website on Aug. 12 that a staking vulnerability is being used across PIVX and its forks. The weakness reportedly allows the attacker to obtain mathematically impossible staking rewards on vulnerable Proof of Stake (PoS) chains. According to the post’s author, the PIVX development team claimed to have solved the issue…

Read More
Bitcoin 

Japan’s GMO Internet Sees 45% Cryptocurrency Profit Dip for Q1 2019

Japanese internet giant GMO Internet Group saw its cryptocurrency profits drop in Q1 2019 amid market weakness, Cointelegraph Japan reported, quoting a new statement on May 10. GMO, which in December 2018 withdrew from bitcoin miner production due to the fall in bitcoin (BTC) prices, saw revenues of 12.9 billion yen ($117.4 million) in Q1, compared to 23.3 billion ($212.1 million) in Q4 2018. Driving the decrease was continued suboptimal performance of bitcoin mining, along with reduced volumes for GMO’s cryptocurrency exchange as traders held off buying and selling. The…

Read More
Bitcoin 

Square Bitcoin Revenue Success Contrasts Profit Warnings After Record Q4 Results

United States-based payment platform Square reported $166 million in annual Bitcoin (BTC) revenue for 2018, data from its annual earnings report published Feb. 27 confirms. Square, which shares its CEO Jack Dorsey with Twitter, achieved just over $52 million in Bitcoin sales for Q4, surpassing Q3 by $9 million and Q2 by more than $15 million. Clear profit from the Bitcoin operations, which involve Square’s consumer app Cash, remain low, as purchasing costs account for the vast majority of revenue. Nonetheless, Bitcoin industry figures appeared buoyed by the results, which…

Read More