This week, leading South Korean crypto exchange Bithumb experienced a major hack, while Mt Gox, the most notorious exchange to be hacked in bitcoin history, is also back in the news.
In Switzerland, the Bank of International Settlements is spreading some misinformation about digital currencies and blockchains; meanwhile, attorney Pamela Morgan is in the U.S. sharing great information regarding how you can plan for cryptoasset inheritance. In China, the asset management firm Reality Shares is giving investors access to blockchain-based companies at the forefront of this brave new world.
Featured stories by Jimmy Aki, Shawn Gordon, Nick Marinoff and David Weiss.
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“No Grounding In Reality”: BIS Report Tells A Strange Crypto Story[2]
This week, the Bank of International Settlements (BIS) in Switzerland issued a new document[3] as part of its annual economic report that warns citizens of the dangers of digital currencies. Many leaders in the crypto community have argued that the BIS is incorrect in much of what it seems to state as fact.
“The report is correct about price stability and potential scaling issues,” Jeremy Gardner, CEO of Ausum Ventures, told Bitcoin Magazine. “The rest is garbage.”
As for the rest, the article dredges up old arguments about Bitcoin mining’s energy consumption and the vulnerability of centralized exchanges. In sum, it covers very little new ground and shows a narrow understanding of blockchain technology.
South Korean Bithumb Exchange Loses $30M in Latest Cryptocurrency Hack[4]
Hackers have reportedly made away with cryptocurrencies worth $30 million from South Korean cryptoexchange Bithumb. The company has stated on Twitter that they would be compensating the affected users.
Leading Bithumb writes in a
