Block Network

September 29, 2020

Hacker steals $15M after degens pile into unreleased Yearn Finance project

Eminence, an unreleased project being built by Yearn’s Andre Cronje has been drained of $15 million. The decentralized finance (DeFi) community’s insatiable appetite for unaudited code has once again ended in tears and the loss of millions.Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance’s Andre ‘I test in production’ Cronje, […]

Kenya’s golf stablecoin highlights need for Africa-wide regulations

A stablecoin that will be used to pay entrance fees for the golfing tournaments of a Kenyan ‘entrepreneurs network’ has started testing under the local regulatory sandbox. YENTS, an unusual stablecoin developed by the Kenya’s Young Entrepreneurs Network (YEN), has entered into testing under the local regulatory sandbox.YEN, which organizes golfing tournaments to facilitate networking […]

Bored with Bitcoin price, traders chase gains in altcoins and DeFi tokens

Bitcoin price is sideways and pinned below $11K, leading traders to seek greener pastures in altcoins and DeFi tokens. For the few weeks Bitcoin (BTC) price has moved within a $850 range and recently the price resumed the trend of daily higher lows. Despite this, $11,000 remains a hurdle the price has struggled to overcome but […]

Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be issued as collectible digital player cards on blockchain platform Sorare. French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens.PSG — which plays in the […]

Venezuela sees its first Blockstream Bitcoin satellite node

“Users can’t afford to be cut off from the Bitcoin network.” A Bitcoin services startup based in South America has just launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela.According to a Sept. 25 blog post from startup Cryptobuyer, the launch of the node will keep the Bitcoin (BTC) blockchain updated […]

Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

Bitcoin difficulty ribbon compression has broken out of a bear trend it has been in since the March coronavirus crash. Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish.On Sep. 28, on-chain monitoring resource Glassnode noted that Bitcoin’s difficulty ribbon compression had broken out […]

$30M MakerDAO ‘Black Thursday’ lawsuit sent to arbitration

A class-action lawsuit accusing MakerDAO of misrepresenting the risks associated with its DAI stablecoin has been stayed pending arbitration proceedings. A court has agreed with the Maker Ecosystem Growth Foundation that a class-action lawsuit over its ‘Black Thursday’ meltdown should enter into arbitration proceedings.The Maker Foundation filed this motion to compel arbitration in response a […]

Hacker steals $15m after degens pile into unreleased Yearn Finance project

Eminence, an unreleased project being built by Yearn’s Andre Cronje has been drained of $15 million. The decentralized finance (DeFi) community’s insatiable appetite for unaudited code has once again ended in tears and the loss of millions.Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance’s Andre ‘I test in production’ Cronje, […]

Bulgarian exchange owner convicted over auction fraud scheme

The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate. Rossen Iossifov, a 53-year-old Bulgarian national and owner of the ‘RG Coins’ cryptocurrency exchange, has been convicted of operating a multi-million dollar money laundering ring as part of a transnational auction fraud scheme.Following […]

September 28, 2020

One of Hal Finney’s lost contributions to Bitcoin Core to be ‘resurrected’

While Hal Finney may no longer be with us, one of his proposals from 2011 may soon find its way to Bitcoin thanks to an expired patent. In a February 8, 2011 post on Bitcointalk, Finney said that reading a book titled “Guide to Elliptic Curve Cryptography” by Hankerson, Menezes, and Vanstone, gave him an […]