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After a cybercriminal took advantage of a sizable software flaw to steal digital currency worth over $ 250,000, Bisq suddenly stopped allowing trading on Tuesday night (April 7) when it encountered “a critical security vulnerability” Coindesk reported.
The decentralized exchange (DEX) said it made “unprecedented” efforts after discovering the glitch. Bisq was reportedly able to correct the defect on Wednesday (April 8) and informed the store that the trade had begun once again.
The hacker reportedly stole the funds by making the default backup address their own. (The default fallback is where the digital currency comes in if a trade fails.) The hacker would appear to be a seller and will initiate a trade with a buyer. After that time, they would let the clock run. The digital assets came with the hacker instead of the rightful owners in addition to the security deposit and payment.
Monero (XMR) valued at $ 230,000 and bitcoin (BTC) valued at $ 22,000 were taken in the thefts, according to the report. Overall, the value of the stolen cryptocurrency exceeds $ 250,000.
In other news, a digital currency mining company promises to double investor funds in a year and says it is giving funds to a charity to fight COVID-19, according to an emergency action that Texas State Securities Board embarked on Wednesday, according to a state agency press release.
According to the release, Ultra BTC Mining LLC has raised $ 18 million from Texas residents for investments in technology to calculate the digital currency. Texas action was brought forward with the Alabama Securities Commission to “stop the illegal offering in progress,” the statement said.
The company is also reportedly informing prospective investors that a $ 10,000 investment in computing power will return nearly $ 10,5,000 annually, while a $ 50,000 investment will return nearly $ 52,000 annually.
The board also said Ultra and a company agent are “touting the company’s charitable donations to assist victims of the coronavirus pandemic.” He said Ultra Mining claims it has already donated $ 100,000 to UNICEF but “has refused to provide any information verifying the donation.”
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WATCH LIVE: HOW WE PURCHASE – TUESDAY 10 NOVEMBER 2020 – 12:00 (ET)
New forms of alternative credit and point-of-sale (POS) lending options such as “buy now, pay later” (BNPL) harness the growing influence of payment choice on customer loyalty. Nearly 60% of consumers say such digital options now influence where and how they shop, especially robust and well-crafted contactless payments and ecommerce checkouts, so merchants have a clear mandate: understand what has changed and adapt accordingly. . Stick PYMNTS CEO Karen Webster with Greg Lisiewski of PayPal, Mark Rosales of BigCommerce, is Camille Kress of Adore Me as they highlight key findings from the new PYMNTS-PayPal study, “How We Shop,” and chart better and faster paths to a stronger recovery.
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