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AT&T Teams With BitPay to Accept Bill Payments in Crypto

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AT&T’s Death Star logo may have really been a moon after all, with the telecom giant announcing Thursday that it will accept bill payments in the form of crypto by way of BitPay.

As it stands, the crypto option isn’t being extended to other AT&T services, such as buying phones or other devices, and as of yet BitPay won’t work in AT&T’s storefronts. That said, the company noted in a statement that its customers use cryptocurrency and that the new offering is intended to give them their preferable option.

“We’re always looking for ways to improve and expand our services,” said Kevin McDorman, vice president at AT&T. “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

An AT&T spokesperson told us

“BitPay provides payment processing services for merchants and is one of the largest bitcoin payment processors in the world. Our customers are on this platform and we are always looking for different ways to better serve our customers.”

It might be time for bitcoin whales break open those cold wallets and pay off their AT&T bills for the next twenty years

 

source:coindesk

Crypto

Crypto exchange Bitrue is hacked, official said everything under control

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Singapore-based exchange, Bitrue experienced a hack that lost them a total of $4.5 million worth of XRP and Cardano (ADA) just couple of hours ago. 

Crypto exchange, Bitrue just experienced a hack just couple of hours today. The exchange announced the incident via their official Twitter account.

Before explaining the details about the hack, the team assures their 16.6K followers about the current status as well as the lost funds.

“First of all, please let us assure you that this situation is under control, 100% of lost funds will be returned to users,” Bitrue team tweeted.

They continued by saying, “And we are reviewing our security measures and policies to ensure this does not happen again.”

The hack that lost them about USD 4.5 million in XRP and Cardano (ADA), with current price, happened on June 26th at 5pm, when a hacker exploited a vulnerability in the exchange’s Risk Control team’s second review process to their 90 users’ funds

Fortunately, the team realized the attack soon after, immediately suspended the activity and notified receiving exchanges, such as Huobi and Bittrex to freeze the funds and accounts.

As of now, the exchange is still down for “unexpected maintenance” as can be seen on the website.

Bitrue reiterated that all affected funds will be replaced and that all funds are insured, while also informing the steps they take to handle the incident.

Lastly, the team also provided a link through which users can track the stolen funds.

The responses for the announcement are mostly very supportive, given the transparency of the Bitrue team regarding the incident.

Source.chepicap

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Founder of failed crypto exchange, Mt Gox, hit with lawsuit over management

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Mt. Gox founder, Jed McCaleb, is facing a lawsuit over his managing of the failed crypto exchange.

Former traders from the platform, Joseph Jones and Peter Steinmetz alleged that McCaleb’s representation of the exchange was fraudulent and negligent. They blame this misleading behavior on why they lost their Bitcoin when the exchange was hacked in 2014.

Launched in July 2010, the Mt. Gox crypto exchange was hacked in February 2014, with losses of around 850,000 BTC. This was the equivalent to $400 million at the time.

The complaints by the former traders were submitted on May 19 to a California court, and claim that the exchange was already suffering from safety issues in January 2011, one year after their launch. These safety issues include two security breaches, which resulted in the loss of “thousands of a Mt. Gox user’s Bitcoin.” They claim that even though McCaleb was immediately made aware of the incident, he did not publicly disclose the hack or take action of any kind.

An excerpt from the complaint goes into more details on the allegations:

“Plaintiffs are further informed and on that basis allege, that McCaleb schemed with Karpeles about how to deal with the missing 80,000 Bitcoin and given the fact that Mt. Gox was already profitable in early 2011, that Mt. Gox would be able to easily recover or account for the missing 80,000 Bitcoin. These Bitcoin, and hundreds of thousands of more Bitcoin would either be stolen, lost, or otherwise, and never recovered by Mt. Gox.”

Source.chepicap

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Crypto Analyst: Prepare for 40% Bitcoin Retracement – Plus Ethereum, Ripple and XRP, Stellar, Cardano, VeChain

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From a warning on Bitcoin’s wild swings to new adoption for Ethereum and VeChain, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Senior eToro market analyst Mati Greenspan says crypto traders should prepare for Bitcoin to pull back by as much as 40% in the current rally.

In a new interview with BlockTV, Greenspan says wild swings come with the crypto territory.

“We’ve seen this market cycle play out before where we see huge surges and then massive retracements like we saw in 2018. And now, speculation is rising that we’re going to see another really huge surge. And if that’s the case, what we’re seeing now is still small potatoes.

Even within the hottest bull markets we’ve ever seen, sometimes there are massive retracements. We’ve seen bull market retracements of 20%, 30% and even 40% before. So it wouldn’t surprise me to come back and see a test of that $10,000 or even $9,000 level. What tends to happen is that when traders get really bullish, they go and take on more and more risk. And when they do that, they run the risk of getting stopped out, basically. And that type of situation can create a chain reaction where in an instant you see a 10%, 20% pullback.”

Ethereum

Opera has released its new web 3.0 browser with built-in support for Ethereum on the iPhone.

The browser includes an Ethereum wallet that supports all ERC20 tokens.

Ripple and XRP

Ripple has reportedly signed a deal with the blockchain analysis company Coinfirm.

The deal could ensure that the second largest cryptocurrency by market cap complies with new regulatory guidelines from the Financial Action Task Force (FATF), reports Forbes.

Coinfirm says it can identify whether an address is owned by an exchange that doesn’t verify its customers and determines whether an address was created in a “high risk” country. Once Coinfirm analyzes an address, it grades the likelihood that it has been involved in money laundering on a scale of 0 to 99.

Stellar

The nonprofit behind the 12th largest cryptocurrency Stellar is looking for three new engineers to join the team, all based in San Francisco.

The Stellar Development Foundation says it’s hiring a new platform engineer, senior core engineer and senior platform engineer.

Cardano

Cardano’s commercial development branch Emurgo has released a new overview on how the Cardano blockchain differs from other platforms in the space, including Bitcoin.

“Within Bitcoin, the people with the power to keep the ledger updated are the bitcoin miners. Once Cardano is fully decentralized, the people with the power to keep the ledger updated are those who have a stake in the system. This means that anyone who owns ADA (Cardano’s native cryptocurrency) can help keep Cardano decentralized.”

You can check out the full piece here.

VeChain

Walmart China says it’s using the VeChainThor blockchain to track the origin and freshness of products in its stores. A video that appears to show the food safety technology in action was posted on Twitter, and caught fire on Reddit.

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