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Coinbase Blocks Account After Hamas Tries to Gain Funding in Bitcoin

According to research by an Israeli blockchain intelligence agency called Whitestream, Palestinian resistance group Hamas had been asking it’s supporters to send in financial aid through Bitcoin.

But as soon as the agency discovered that Hamas’s wallet’s private keys were with Coinbase, they used their influence to get the account blocked.

According to Israeli news, this comes as no surprise as Hamas has been classified as a terrorist organization by the UN and Coinbase took immediate action when it found out that the organization was communicating through Telegram in order to reap in Bitcoin donations.

The Palestinian group sent out this message for their supporters,

“The Zionist enemy is fighting the Palestinian resistance by trying to cut its financial aid. However, resistance fighters around the world are working against these Zionist attempts and will seek new ways to gain support. “

After Whitestream did a little research and realized the wallet was affiliated with Coinbase, they got them to block the wallet and freeze it’s assets for a little while. The terms of Use of Coinbase clearly mention that it cannot allow organizations to make transactions to propagate terrorist activities.

However, according to Whitestream Hamas only got $ 2,500 worth of Bitcoin donations in the two days before the account was locked.  They also released information regarding the wallets of donors which came from Coinbase, Vilkov and Binance whereas Hamas also uses Bittrex and CoinPayments

source:blockpublishrer

Coinbase

It’s Just A Phase: Coinbase Reveal Plan To Deal With Coronavirus

  • There are several news stories coming out every day for travel disruptions due to the emerging pandemic of the coronavirus.
  • However, when it comes to how cryptocurrency platforms are handling the virus, Coinbase is getting ready for the worst-case scenario.

There are several news stories coming out every day for travel disruptions due to the emerging pandemic of the coronavirus. Now it has spread to Italy, holiday goers are getting more and more worried that their summer will be ruined due to the virus. We have seen the impact of coronavirus on the world around us, as well as the cryptocurrency markets. The leading cryptocurrency has dropped over 4% in value over the last 24 hours after it was found that the virus spread to Italy. However, when it comes to how cryptocurrency platforms are handling the virus, Coinbase is getting ready for the worst-case scenario.

The CEO of the platform, Brian Armstrong published a document which claimed the company is preparing a four-tier escalation response to the virus. Each phase of the plan will be triggered by an increase in the number of people infected with the coronavirus or local governments in response to the quarantines that are close by to the company’s office(s).

Coinbase’s plans include smaller measures such as getting the cleaners in on a more regular basis in the office, as well as restricting visitors to only essential personnel only. Furthermore, employees are given the option to work from home due to the outbreak.

After the minor measures have been made, the second phase will kickstart. However, it will only go ahead when there are more than 1000 cases similar to those in the first phase (unless the government has imposed quarantine).

The third phase comes with a disclaimer though saying “Containment has failed, it’s going to be a wild ride.” Employees at the exchange will be required to work from home. In the third phase, offices will be essentially in lockdown.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates

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Coinbase

Coinbase Wallet Adds Short, Customizable Addresses to Simplify Sending Cryptos

Coinbase Wallet users can now send cryptocurrencies to “short human-friendly addresses,” as well as ones creating using the Ethereum Name Service (ENS).

Product lead Sid Coelho-Prabhu announced Tuesday that Coinbase Wallet now supports customizable walle usernames for sending cryptocurrencies, rather than traditional long-form ones such as “0x89136a83664fa0673930be34463e444260775dc”.

“We believe these improvements will make cryptocurrency much easier to use and help drive adoption with a more mainstream audience,” Coelho-Prabhu said in a blog post.

Sent live Tuesday, users can send cryptocurrencies by asking recipients for their wallet usernames like “@walletfan” and use them as the sending addresses. There is also an option to keep usernames private.

To be clear, the short usernames do not replace 16-digit wallet addresses but instead provide a more user-friendly representative that sits on top. A user can send cryptocurrencies using the associated username, rather than typing in the full wallet address.

The new support also includes an integration with the Ethereum Name Service (ENS), allowing Coinbase Wallet users to send cryptocurrencies to .eth addresses.

Launching in 2018, Coinbase Wallet provides users with a service to store and transfer cryptocurrencies to one another. Users have been able to use a decentralized web feature since August 2019.

Coelho-Prabhu confirmed that all cryptocurrencies supported by the app, including bitcoin, ether and XRP, can now be sent using the new username feature.

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Coinbase

Coinbase Suffers EOS Network Delay, But Block validators See None

  • Coinbase is a global platform that enables users to buy, sell, transfer and store digital assets such as cryptocurrencies based on the U.S.
  • EOS sends are temporarily disabled completely and EOS receives are delayed.
  • EOS validators claims the same that EOS Network is fully operational.

What is Coinbase?

Coinbase is a global platform that enables users to buy, sell, transfer and store digital assets such as cryptocurrencies based on the U.S. It is the most popular platform by many to buy cryptocurrencies like Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH). Coinbase serves as a wallet too, through which it helps users to store cryptocurrencies. The application currently operates an exchange of Bitcoin, Litecoin, Ethereum and other digital assets with fiat currencies in more than 32 countries.

EOS Network: Major Outage

Recently Coinbase tweeted from its twitter handle @CoinbaseSupport

the tweet was about the announcement of its degraded performance of the EOS network and EOS sends are temporarily disabled completely and EOS receives, on the other hand, maybe delayed. The tweet assured that the buying and selling of EOS are functioning normally within Coinbase and it will update customers when the status will jump back to normal.

The status of EOS network can be seen in Coinbase official website, in which the EOS is tagged as Major Outage and showing Send and receives are delayed. The send and receives in the EOS is referred to as sending and receiving EOS currency using the EOS network which usually happens in transferring and transactional processes.

This is not the first time that Coinbase is suffering a problem from EOS, In the same year February 14 and 17, it has reported similar failures and rebounded back to normal from the major outage.

What validators has to say on this issue?
EOS Nation, which is known to be one of three largest EOS block validators had admitted that EOS survived many micro-forks and missed the blocks on February 20 but claims that the network is working properly. EOS New York also one of the big EOS validators claims the same that EOS Network is fully operational and that a problem is could be from the side of Coinbase itself.

EOS New York validators also commented on Coinbase’s Reddit message that the network is fine and the problem of relaying is because of the internal infrastructure on EOS.

It has been noted that no other organizations reported the same problem as Coinbase. The validators asked Coinbase to give more details about the problem to assist them and provide any support from them for free. The Comment has not been responded by Coinbase yet.

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