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Peertec Joins Hands with Penta Security for Blockchain-Enabled Infrastructural Security

Peertec, a leading blockchain-focused fintech firm, has revealed its strategic collaboration with Penta Security, a highly valued web and data security company.

According to the announcement on October 15, 2019, the two South Korean firms have partnered to boost Peertec’s infrastructure security using blockchain technology. The security of its GDAC cryptocurrency exchange and services is also expected to be strengthened.

Peertec’s GROW service

The partnership is scheduled to propel the security of the node found on Peertec’s GROW service. GROW is a blockchain-powered derivate product that was availed on July 30.

Precisely, it is the globe’s first-ever blockchain-enabled derivate product meant for tokenized asset management.

Ash Han, Peertec’s CEO, illustrated his delight about the crucial partnership.

Han noted:

“We are excited to cooperate with Penta Security, which is a well-known professional security services company that has 21 years of experience in the industry.”

He also added:

“The security on the products and services that GDAC exchange and Peertec offer will be strengthened, building the level of trust in the cryptocurrency market, and keep users’ assets more safe and secure.”

On the other hand, Seokwoo Lee, Penta Security’s CEO, acknowledged that the company intends to create a sustainable and safe Decentralized Finance (DeFi) ecosystem.

Lee asserted:

“Through the partnership with Peertec, which is a company that is rapidly expanding and growing in the blockchain fintech industry, we will expand the scope of our security technologies to the blockchain industry.”

Penta Security has made a reputable mark as a professional security services company that avails services, solutions, and products for blockchain, Internet of Things (IoT), and enterprises.

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Ukrainian Security Department And Law Enforcement Uncover a Crypto Mining Farm in a Railway Subdivision in Lviv

According to a report, Ukrzaliznytsia has uncovered a hidden cryptocurrency mining farm in the Lviv railway subdivision, which has been making use of the country’s electricity without paying for it. This secret mining company was discovered by Ukrzaliznytsia’s security department, in conjunction with law enforcement officials.

Oleg Nazaruk, Director of the Department of Economic and Information Security of Ukrzaliznytsia JSC, was the person that reported the news. He noted that more than 100 computers were found, and each of these computers could generate Bitcoin and utilized Ukraine power generation, which has resulted in a huge loss.

“During the inspection of the premises where the so-called farm was located, more than 100 pieces of computer equipment were identified that were generating bitcoins. The equipment mentioned above was connected to the Ukrzaliznytsia power grid. The estimated amount of losses since the beginning of the year is UAH 1 million,” he commented.

The report made reference to Ukraine’s law, which it claimed prohibited the issuing and circulation of cryptocurrency in Ukraine, making cryptocurrency-related activities illegal in the country.

The sample collected by the security agents that uncovered the mining company has been sent to the Ternopil Police Department of the Main Directorate of the National Police in Ternopil Oblast for verification.

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Crypto Investors Unable to Access Their Money: 8 Things to Consider Before Investing in Cryptocurrency

The New York Times recently announced that the US and Canada crypto investors are unable to access their money amounting to $250 million. This drama started after the founder of Quadriga CX cryptocurrency exchange –Gerald W. Cotten – was reported dead.

The shocking revelation leftinvestors finding themselves unable to retrieve money in their accounts. The company’s operations were encrypted, and Gerald Cotten was the only person who knew the password required to move the funds.

The Cause of Cotten’s Death

In January this year, the wife of the crypto exchange founder testified that her husband unintentionally took at least $137 million of customer assets to the grave when he died without giving anybody the password to his encrypted laptop.

In February, Cotten’s wife submitted an affidavit claiming that her husband suddenly died while having a vacation in India, at the age of 30. She alleged the cause of Cotten’s death was complications associated with Crohn’s disease.

Thus, Quadriga CX cryptocurrency exchange lost control of over $137 million of customer assets because the company’s operations were stored on a laptop, which – according to the window’s affidavit – only Cotten knew the password.

Basic Things to Put into Consideration

So, here are 8 things crypto investors should consider before investing in cryptocurrency.

1. Never Invest Above Your Means

It’s advisable that crypto investors only to invest money, which they are willing to lose. It must be money you don’t need in your day-to-day life. If you lose that money, then your life should not be affected. Furthermore, it would help if you don’t take a consumer loan to invest.

2. Ensure You Know What You Are Buying

The Russian proverb says that “trust but verify.”

Therefore, you should not blindly trust anyone. You don’t need to be an expert in cryptocurrency to make the necessary evaluations. But you just need to take time to help you understand what you are investing in and how comfortable you are making such an investment after you have understood the information at hand.

There are over 2000 cryptocurrencies, which are actively being traded every day. So, you need to take time and learn about cryptocurrencies existing.

3. Find A Trustworthy Crypto Exchange

If you want to begin investing in cryptocurrency, then crypto exchanges will be essential. But only invest in reputable cryptocurrency exchanges that are legally accredited by relevant authorities.

4. Diversify Your Investments

If you have money to invest, then you must be aware of the saying that “you should not put all your eggs in one basket.” If you put all your eggs in one basket and it falls, then you lose everything. So, if you have 10 eggs, then divide them evenly into 5 baskets.

It is prudent to apply the same reasoning approach to your investments. You should divide them, such as some of your investments go in real estate, others channeled to actions, and part in the cryptocurrencies.

5. How to Buy Cryptocurrencies

It is appropriate to begin investing in very popular cryptocurrencies like Bitcoin, Ethereum, or Monero and to diversify into other few altcoins. Smaller coins normally carry more risk of failure and are more volatile, and it’s hence advisable to avoid them.

6. Secure Your Cryptocurrency

The need to secure your cryptocurrencies should be the main priority for a long-term investor.

7. Watch Out for Scams

You need to be vigilant about scams and avoid them as much as possible.

8. Find Trusted People You Can Follow

Don’t walk alone. You need to find reliable people who can help you with your investments. The environment is filled with scammers or individuals who only want to manipulate you for their advantage. So, you should be vigilant and choose people carefully.

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Tik Tok Pushes Harder for Blockchain Despite Vulnerabilities in Core System

Hundreds of millions of users are using Tik Tok, meaning that any breach of data could lead to severe vulnerabilities for users and the company.

Check Point, a cyber research company reviewed Tik Yoks app, and stated, “The vulnerabilities we found were all core to TikTok’s systems,” said Oded Vanunu, Check Point’s head of product vulnerability research.”

Checkpoint Research published a list of problems found on Jan. 8, which included:

Hacking of TikTok user accounts and manipulating content
Deleting videos
Uploading unauthorized videos
Make private “hidden” videos public
Reveal personal information saved on the account such as private email addresses

Since then, Tik Tok has released new patches to try and solve the issues. But moving forward, there is a strong indication from ByteDance that blockchain could be a long-term solution to fight similar problems.

Reported last December, Tik Tok Owning Company Bytedance has strongly started investing in blockchain technology with other Chinese Companies.

With the above security flaws found in their app, allowing hackers to take control of user accounts, the social media giant has a significant task of correcting problems quickly and ensuring that new systems put in place can improve user protection. Security and account protection are the two main areas that ByteDance is aiming to solve, protecting users from malicious links and hackers uploading videos and media on their accounts.

Data protection on social media are crucial elements for all data-heavy services; after Facebook’s problems, it was clear that all privacy and policies must be created and held to high standards for users.

Moving further into 2020, the surrounding problems and investment made into blockchain shows a strong desire to design and improve security by ByteDance and, in turn, Tik Tok.

With long term partnerships created and blockchain advancement in the works, it could be yet another strong year for the social media giant.

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SEC Delays Decision on Overstock-Backed Security Token Exchange

The U.S Securities and Exchange Commission (SEC) has postponed the decision of disapproving or approving the launch of the Boston Security Token Exchange (BSTX). The commission is seeking more time and more feedback before it makes such a decision.

The Commission Seeks More Feedback Over Next Three Weeks

In a letter published on April 1, the SEC delayed the current April 2 deadline because it requires more feedbacks and reviews of the operations of the proposed BSTX, the one affiliated with Overstock’s blockchain arm tZERO.

BSTX is a project working to become a regulated exchange for trading security tokens, the platform would be jointly owned by tZERO (the blockchain arm of Overstock) and Box Digital Markets.

The commission was scheduled to announce a decision on BSTX yesterday, but because of some policy and legal matters, it is extending the deadline. The SEC is particularly interested to know whether BSTX’s operations meet compliance requirements of the Securities Exchange Act of 1934. The commission also wants to know whether the information that tZERO and BOX had provided will be sufficient to make an adequate ruling concerning the BSTX’s approval.

The SEC had warned parties involved that should these two issues not sufficiently be addressed then might contribute to grounds for summary rejection. The commission has given the parties three weeks to submit their initial thoughts, and another two weeks to respond to others’ comments.

The BSTX proposal was at first filed in May 2019 in which the SEC published for public consultation in October. Last month, BOX filed an amended BSTX proposal to increase the number of market markers needed for an initial listing from two to three and to tighten the overall listing standards of the exchange.

There also have been several concerns raised by industry actors. For instance, Nasdaq stock exchange raised their concern to the SEC, saying that the BTSX proposal might create an “unreasonable burden on competition” as the underlying blockchain technology (distributed ledger) would be exclusively available on BOX. Moreover, Nasdaq stock exchange mentioned that the proposal seems to provide “inadequate” detail concerning BTSX’s digital securities technology and infrastructure pairing with the existing equities market infrastructure.

All these explained the reason why industry actors wanted the commission to spend more time before rejecting or approving BSTX’s proposal.

SEC’s Latest Guidance on Digital Assets Securities

In July 2019, the SEC published a framework that all security token investors and issuers must follow. All investors and issuers must be declared effective by the agency before they can commence with their security token sale.

Moreover, to operate their trading platforms, all investors and issuers are required to register with the agency as broker-dealers who are expected to safeguard customer assets and to keep client’s assets separate from the company’s assets under the Consumer Protection Act. The commission has been active in bringing fines and charges to individuals who have failed to create tokens without any use-value. Therefore, with more time granted for more feedbacks and reviews, it remains to see whether the SEC will approve or reject BSTX’s proposal.

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Blockchain for Emails: What are the Benefits?

Since 2009, blockchain technology has been primarily used in the issuance and maintenance of cryptocurrency, but the power of the technology have applications far beyond the crypto space. Features such as immutability, decentralized storage, transparency, and security are making blockchain popular in other fields.

According to Safepost, the use of decentralized technology in emails has yet to be fully utilized and a blockchain-based solution will solve the majority of problems that traditional email providers face.

Privacy is enhanced

The privacy of the users is always an issue when it comes to email solutions. Companies like Google will tell you that they do not share your data with 3rd parties. However, there is no guarantee that it will not happen because they have a centralized server. Some of these email solution providers will use personal data on their platforms to send you personalized ads. A decentralized email solution means that messages will be stored in shared ledgers so that no single authority is able to dictate how your data is used.

Secure platform

In 2013, Yahoo, which was of the biggest email providers at the time, suffered a security breach. The company managed 3 billion user accounts at the time. The breach affected more than 1 billion of the accounts. It was not until 2017 that Yahoo admitted that this happened. The company advised its users to change their passwords. A blockchain-based solution is more secure against such attacks. Different nodes are distributed over a network, which makes it hard to control the system. A hacker must control more than 51% of the nodes to manipulate the system which is not impossible, but a blockchain network with 3 billion accounts serving as nodes would mean that attackers would have to hack more than 1.5 billion simultaneously.

According to a report compiled by the FBI, businesses lost about $26 billion from June 2016 to July 2019 through fraudulent emails. Confirming that an email comes from the said sender is always a challenge in the current set up. Someone can easily set up an email account with someone’s name and send messages. A blockchain-based solution is tamper-proof, which makes it easy to check the authenticity of the messages. One cannot edit timestamps or even the routing data, which makes it easy to know the sender. Tracking the sender of an email and when the email was sent through a decentralized ledger is thus possible.

Blockchain email seems to be lagging behind when compared to other applications such as banking and cryptocurrencies. The possibility to combat fraud in the business world is desirable. The assurance that there will no longer be spam emails, phishing threats, and that there will be data privacy are the strongest selling points of blockchain technology in this field.

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Google Integrates Blockchain Technology to Root Out Fraudulent Actors

Google operates the largest ad exchange in the world and recently decided to start investigating the use of blockchain technology in its exchange to root out “fraudulent actors.” Google claimed that they started integrating blockchain technology into their exchange is nothing but security theater since they would essentially write themselves out of the deal between advertisers and publishers if Google were to create an immutable, open, distributed public ledger for its exchange.

We hear a lot of hype around “Blockchain” technology and it is important to temper this hype with the realities of implementation for this technology. Not everything can be put into a blockchain and not everything should. This article describes a high-level overview of the blockchain (appendix) technology and how it pertains to Google’s ad exchange.

First, I will give a high-level overview of blockchain as a definition. According to the National Institute of Standards in Technology from the US Department of Commerce, blockchains are “immutable digital ledger systems implemented in a distributed fashion (i.e. without a central repository) and usually without a central authority. At its most basic level, they enable a community of users to record transactions in a ledger public to that community such that no transaction can be changed once published”. This means Google could not host a privately permissioned digital ledger and still call it a “blockchain”.

To further analyze this definition, Andreas Antonopoulos, author of Mastering Bitcoin, eloquently breaks blockchains down further into 5 pillars

1) Open: Anyone can access it, and participate in it without authorization, ID, ethnic origin, etc. Blockchains do not know if you are human or a piece of software when you use it.

2) Borderless: It does not matter where you are, where you live, or where you travel. The blockchain is always there.

3) Neutral: Anyone can make an exchange. The purpose of the exchange and the identity of the sender and receiver are not regulated.

4) Censorship Resistant: If someone wants someone on a blockchain to stop a transaction, they cannot. No transaction can be censored.

5) Public: The idea is that every exchange on the blockchain is verifiable on the network.

Blockchain technology could be used to record the transfer of ad space on various sites. It could also be used to monitor user actions such as clicks and supplier site data (lead generation, clicks, re-directs). The advantage would be that it is publicly auditable and Supply Side Platforms (SSPs) do not have to trust Google to know how much is owed to the publisher. In creating a truly distributed, transparent, open, and auditable ledger, the ad exchange is essentially writing themselves out of necessity. For the blockchain to be secure, it must be open (otherwise the DSPs and SSPs are still simply trusting Google’s exchange). For the ad exchange to be open, their monetization would be cut out eventually, since they are just middlemen between the SSP and the DSP.

Google claims to “root out fraudulent actors” by implementing blockchain technology into its ad exchange. If this were true, there would be fewer attack vectors for click fraud. In reality, anyone can access the true blockchain and participate in it without authorization or identification. Blockchains do not know if the user is a human or a piece of software. To mitigate this, Google could try using a public key encryption scheme based on tokens integrated into devices within their control (such as android phones). However, they would have less control over other platforms like internet explorer, IOS devices, and countless other platforms. Effectively, using blockchain technology is not truly going to address fraudulent actors any better than not using blockchains.

It can be argued that using blockchain technology would help advertisers on the Demand Side Platform (appendix) to audit charges on traffic to their sites. However; it is not in Google’s interest to prevent click fraud unless they have a way of capitalizing on this security feature. Only the companies trying to advertise their products on the Demand Side Platform (appendix) want this protection and are often best served by purchasing the third party Adwords click fraud prevention software. In reality, click fraud benefits Google just as much as the publisher hosting the ads on the Supply Side Platform (SSP). The more click fraud, the more money the exchange makes as well, which is why Google benefits primarily from using a permissioned blockchain for ad exchange purposes.

A blockchain is a computationally expensive data structure that is bigger and slower than a database. If Google decides to implement a private, permissioned blockchain to keep its ad exchange relevant, it will simply slow transactions down with no advantages over their current system, as DSPs and SSPs would not be allowed to see or write to the blockchain. Even Google’s most senior advertising executive seems uncertain about implementing blockchain technology as he says “[blockchain technology] is a research topic, so I don’t have anything super-definitive to say. We have a small team that is looking at it. The core blockchain technology is not something that is super-scalable in terms of the sheer number of transactions it can run,” Sridhar Ramaswamy, Google’s senior vice president of ads and commerce.

Below, you will find a flow chart from a peer-reviewed paper that presents their structured methodology for determining whether or not a blockchain is the appropriate technical solution to solve a given problem. If we follow its logic, we find that Google benefits most from keeping its image as a Trusted Third Party (TTP), not from creating a blockchain that would reduce dependency on a trusted third party. SSPs and DSPs might want to create a blockchain, but blockchains are too computationally expensive scale to the entire world. Therefore, they also do not benefit from a blockchain to keep track of their ledgers.

In creating a platform that is truly distributed, transparent, and auditable, the exchange (Google) would be abdicating their power and role as the broker between the SSP and DSP. For the blockchain to be secure, it must be open, and for it to be open, the ad exchange’s monetization would be cut out eventually. Otherwise, the DSPs and SSPs are still just trusting Google for exchange management via a private permissioned blockchain. If the technology exists for this blockchain, the need for a trusted third party is eliminated. Google is claiming they are creating a more secure exchange platform via blockchain technology when in reality, they are using security theater in order to continue establishing themselves as a Trusted Third Party (TTP).

In an ideal world, there will be decentralized autonomous applications that replace the need to rely on third parties like Google, but they will certainly not be built by the beneficiaries of the current power structure.

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CBDCs Gain Traction Amid Fears of Coronavirus-Contaminated Banknotes, The Economist Survey Uncovers

In a survey conducted by The Economist and Crypto.com, it found that consumers generally had more trust in central bank digital currencies (CBDCs), rather than decentralized cryptocurrencies.

The Economist and Crypto.com surveyed 3,048 people from January to February this year, with respondents from developed countries including the US, UK, France, South Korea, Australia, and Singapore, and others from emerging economies, including Brazil, Turkey, Vietnam, South Africa, and the Philippines. 60 percent of the survey’s respondents were between 18 to 38 years of age, while the rest were 39 years or older. The male population made up of 60 percent of the respondents while the rest were female, 40 percent of all participants had a college degree.

64 percent of respondents have been using digital payments for over half of their purchases, rather than cash or credit cards in the past year. Around 20 percent of participants have not used digital payments in the past 12 months but aim to switch to digital payments in the next year, which signals greater adoption.

10 percent of respondents already believe that their country is already cashless, indicating the country uses digital payments as a majority over physical payment methods. Almost two-thirds of participants are likely to use digital payments for most or all of their daily transactions over cash.

Coronavirus-inspired cash removal

China has started disinfecting and isolating used banknotes, aiming to stop the spread of COVID-19. By using ultraviolet light and high temperatures to disinfect bills, banknotes are sealed and stored for around 14 days before recirculating them to the public. The nation’s central bank made an emergency issuance of the four-billion-yuan worth of new bills for the province of Hubei prior to the Lunar New Year holiday.

The Louvre museum in Paris banned cash at its ticket gate in March of this year in fear that banknotes could possibly be a mode of transmission of the coronavirus. South Korea’s central bank burned banknotes to slow the outbreak, while the US Congress has plans to roll out a digital dollar. The pandemic has been a catalyst for the digitization of money.

CBDCs vs. crypto

The survey concluded that 38 percent of consumers did not trust decentralized cryptocurrencies, while 26 percent expressed the opposite. 36 percent of the participants were either neutral about cryptocurrencies, while others did not have an opinion on the topic.

With a 16 percent, difference, participants viewed CBDCs as more trustworthy than cryptocurrencies, totaling 54 percent of consumers would trust a digital currency issued by a central bank or government. 23 percent of participants had a neutral opinion on CBDCs, while only 9 percent did not express a view.

However, security remains a concern to over a third of respondents, as cybercrime has been seen as a key challenge as well as the understanding of digital currencies and the technology behind it. 44 percent of participants believed that the use of digital currencies is not well understood, while around a quarter of participants believe that access to cryptocurrencies is either not available or too complicated.

Sweden aims to go cashless

Sweden’s Sveriges Riksbank announced that it had started testing an e-krona, taking one step closer to the release of a central bank digital currency.

The e-krona aims to simulate everyday banking activities, including payments, deposits, and withdrawals from a digital wallet on a mobile phone. The pilot testing program has been scheduled to operate for one year, until February 2021 and will be running on blockchain.

Sweden is one of the least cash-dependent countries in the world, with banknotes only taking up 1 percent of the Swedish GDP, according to Riksbank’s data. The data also showed compared the Swedish’s cash GDP against 11 percent in Europe, 8 percent in the United States, and 4 percent in the UK.

Venezuela’s President leverages pandemic for national CBDC adoption

Venezuela’s president, Nicolas Maduro has announced a new campaign aiming to help the medical staff in his nation by airdropping one Petro to each actively working doctor amid the coronavirus pandemic.

The Venezuelan government is determined to take the coronavirus pandemic as an opportunity to boost the adoption of its national cryptocurrency in the country. The government announced this new campaign through its social media accounts, as a token of appreciation of efforts of the nation’s doctors to combat COVID-19.

The Patria System, introduced by the government, will be used to distribute the special bonus of a Petro for the “Doctors of the Motherland.” The platform was created to support the socio-economic conditions of the population and distribute subsidies and bonuses with its cryptographic token without going through the traditional banking system.

Chinese Courts Deploy Blockchain-Powered Electronic Door Seals for Enhanced Property Security

Chinese courts are adopting blockchain-based door seals that will optimize property security by enabling real-time video surveillance and sophisticated alarm systems. This move is intended to eradicate the conventional paper seals, which are not tamper-proof.

Setting the ball rolling

The Executive Bureau of the People’s Court in Beijing, China, set a precedent by using a blockchain-enabled seal in securing a property located in Chaoyang district. Other courts in Jiangxi, Hunan, and Jiangsu provinces have also followed suit.

The electronic seals based on blockchain technology are unique as they have a rectangular dimension consisting of internal contraction and expansion grooves. Additionally, they are adjustable depending on the door size.

According to the announcement, “Once being disturbed or damaged, the electronic seal will immediately turn on a surveillance camera and continually send warnings to the mobile phones of the plaintiff and law enforcement personnel.”

An enforcement ruling is also pegged on the seals to inform the populace about the property status.

Unauthorized breach

The electronic seals have been programmed in such a way that any person wanting to destroy them unlawfully is warned of the impending legal consequences as a warning voice is played. Furthermore, the perpetrator’s image is sent to the relevant authorities.

The blockchain-powered door seals are also intended to give law enforcement personnel a stepping stone when it comes to conducting property modifications, operations, and information queries.

China aims to be the force to be reckoned with in the blockchain arena as it continues integrating this technological advancement in many spectrums of daily life. For instance, it has adopted this cutting-edge technology in tackling the coronavirus (COVID-19) pandemic.

Bitfinex Launches $400 Million Bounty Hunt for 2016 Hackers Who Stole $1.3 Billion in BTC

Bitfinex has launched a 400 million dollar bounty hunt in search of the hackers responsible for the theft of nearly 120,000 Bitcoins from the global exchange in 2016.

Bitfinex is offering a 400 million dollar reward to anyone that can lead them to the hackers responsible for the theft of the 120,000 Bitcoins, now valued at over $1.3 billion. The global exchange is also offering a reward to the hackers themselves for the return of the stolen Bitcoin.

According to the Bitfinex blog on Aug 4, the hack that defrauded the exchange of 120,000 Bitcoins in 2016 is a “dark chapter” in the history of the exchange and the bounty reward is evidence of their determination to obtain the stolen Bitcoin. The reward of up to $400 million would equate roughly one-third of the Bitcoin’s value at the time of writing.

Aggregate Bitcoin Bounty Hunt

On August 2, 2016, hackers breached Bitfinex’s security systems. Subsequently, 2,072 unauthorized transactions (representing 119,755 BTC in aggregate) were broadcast on the Bitcoin network, resulting in the loss.

The Bitfinex Bitcoin bounty reward can be paid out to informants and hackers returning the stolen cryptocurrency in aggregate.

According to the blog post:

“Those who put Bitfinex in contact with the hacker will receive 5% of the total property recovered (or equivalent funds or assets at current market values), and the hackers will receive 25% of the total property recovered (or equivalent funds or assets at current market values). Any payments made to those connecting Bitfinex with the hackers and the hackers themselves will be classified as costs of recovery of the stolen property.”

Through the aggregate rewards recovery program, the total reward could be worth up to US$400 million at the current BTC price if all bitcoins were to be fully recovered.

“We will reward anyone with information that can put us in direct contact with those responsible for the 2016 security breach at Bitfinex,” said Paolo Ardoino, CTO at Bitfinex. “The hackers will receive a share of the returned property.”

Twitter Hack Demonstrates Danger For Digital Assets

The official post also cited the recent Twitter hack as an example that hacks and cybercrime continue to be a threat for all cryptocurrency and digital asset businesses in the as well as wider technology sphere. No-one in our community can afford to be complacent about the ingenuity of criminal gangs to perpetuate new types of fraud.

“As the recent hack of Twitter demonstrates, the threat posed by maliferous hackers remains,” said Ardoino. “We urge all exchanges, investors, and stakeholders in the space to remain vigilant and to work together to counter the threat that hackers pose to the digital asset industry.”

Since the 2016 Bitfinex hack, the exchange has made security its number one priority and continued to work with law enforcement agents in investigating the security breach. In February 2019, US authorities recovered 27.66270285 bitcoins stolen in the 2016 hack, which were converted to US dollars and paid to RRT (Recovery Right Token) Holders.