"Earlier today, it was discovered that the transferDirector function was utilized on the Oyster Protocol token contract. This allowed the new director to re-open the ICO for PRL and re-issue new tokens (1 ETH = 5000 PRL / .04 per PRL). The individual in question then sent these tokens (upwards of 3M PRL) to KuCoin where the tokens were market sold. They were able to extract ~$300,000 in funds prior to us being able to shut down trading and withdrawals on KuCoin."
https://medium.com/oysterprotocol/oyster-update-b813390ce10e
https://medium.com/oysterprotocol/oyster-update-b813390ce10e
Forwarded from Libre Blockchain
Not sure if you all have heard of Andre Cronje, but this guy is a legend in the crypto space when it comes to dissecting and analyzing the technical underpinnings of projects (proud to have the honor to collab with him on some cool stuff coming up).
He knew that there was this latent possibility for exploit in Oyster months ago
He knew that there was this latent possibility for exploit in Oyster months ago
For those unaware, TokenGen is a smart contract creator mainly focused on the token economy. It generates token and crowdsale smart contracts based on user input and then lets you manage these contracts by deploying them to any Ethereum network and then interacting with them via the Contract Management Interface
https://fabrictoken.io/how-to-run-an-ico-in-a-matter-of-minutes-tokengen-tutorial/
https://fabrictoken.io/how-to-run-an-ico-in-a-matter-of-minutes-tokengen-tutorial/
Fabric Token
How to run an ICO or STO in a matter of minutes - Fabric Token
This quick TokenGen tutorial will show you how you can run your very own token crwodsale and it doesn't take more than a few minutes.
"The Land Title and Survey Authority of British Columbia (LTSA) and ChromaWay AB (ChromaWay) announce they are working on an initiative to evaluate distributed ledger technology (blockchain) solutions that will make land administration processes more secure and accessible in British Columbia."
https://ltsa.ca/news/ltsa-and-chromaway-assessing-blockchain-technology-registry-solutions
https://ltsa.ca/news/ltsa-and-chromaway-assessing-blockchain-technology-registry-solutions
Fantom (FTM) Insider Rumors
Multiple Upcoming Exchange Listings - Medium, Big and Bigger, including, as you'd expect for a Korean project, a large Korean exchange.
Multiple Upcoming Partnerships with Billion Dollar Companies, Danfoss to be announced later today.
The FTM token will be integrated into their IOT/Energy/Smart Homes. This is the smallest company of the upcoming partnership news...
More info on Danfoss here - https://en.wikipedia.org/wiki/Danfoss
Multiple Upcoming Exchange Listings - Medium, Big and Bigger, including, as you'd expect for a Korean project, a large Korean exchange.
Multiple Upcoming Partnerships with Billion Dollar Companies, Danfoss to be announced later today.
The FTM token will be integrated into their IOT/Energy/Smart Homes. This is the smallest company of the upcoming partnership news...
More info on Danfoss here - https://en.wikipedia.org/wiki/Danfoss
As posted earlier, Fantom confirms partnership with Multi Billion-dollar Energy and IOT Infrastructure Giant, Danfoss.
"This partnership has the potential to revolutionize peer-to-peer energy platforms in the way Uber has revolutionized transport. Fantom and Danfoss will the explore the possibilities of accelerating the development of the microgrid."
https://medium.com/fantomfoundation/fantom-partners-with-multi-billion-dollar-energy-and-iot-infrastructure-company-danfoss-6247cc5ff17a
"This partnership has the potential to revolutionize peer-to-peer energy platforms in the way Uber has revolutionized transport. Fantom and Danfoss will the explore the possibilities of accelerating the development of the microgrid."
https://medium.com/fantomfoundation/fantom-partners-with-multi-billion-dollar-energy-and-iot-infrastructure-company-danfoss-6247cc5ff17a
Medium
Fantom Partners with Multi Billion-dollar Energy and IOT Infrastructure Giant, Danfoss
We at Fantom are extremely proud to announce that we have made a huge leap towards achieving the milestones within our ecosystem…
Coinbase 'Denies Plans for IPO 'Any Time Soon', however information provided suggests they are now in a "Pre IPO" funding round.
The current pre-IPO round is $500M, $250M preferred equity valued at $8B and $250M common stock valued at $7.2B.
Coinbase Financials are as follows -
$28M - Monthly Operating Expenses
50% - Gross margins
$90M - Revenue last quarter
$450M - Peak quarterly revenue (Q4 2017)
Coinbase will have $750M cash on the balance sheet at close.
80% of Coinbase's revenue is from consumer (retail) business, 15% is from Coinbase Pro (their institutional product) and 5% is from ancilliary services.
Coinbase is in 33 countries and has 25M registered accounts. 7M of these accounts have some value in crypto or fiat and 600K transact on any given month. The accounts with no value are mostly in countries where there is not yet a fiat onramp.
Coinbase has 80-90% of the US fiat to crypto market and 75% of the US crypto to crypto market.
Coinbase is launching an OTC desk as announced in recent press release and have a 100 client waiting list for institutional custody solution. Coinbase will also offer coin staking and coin borrowing service for institutionals.
https://cointelegraph.com/news/coinbase-exec-denies-plans-for-ipo-any-time-soon-reveals-plans-to-add-up-to-300-coins
The current pre-IPO round is $500M, $250M preferred equity valued at $8B and $250M common stock valued at $7.2B.
Coinbase Financials are as follows -
$28M - Monthly Operating Expenses
50% - Gross margins
$90M - Revenue last quarter
$450M - Peak quarterly revenue (Q4 2017)
Coinbase will have $750M cash on the balance sheet at close.
80% of Coinbase's revenue is from consumer (retail) business, 15% is from Coinbase Pro (their institutional product) and 5% is from ancilliary services.
Coinbase is in 33 countries and has 25M registered accounts. 7M of these accounts have some value in crypto or fiat and 600K transact on any given month. The accounts with no value are mostly in countries where there is not yet a fiat onramp.
Coinbase has 80-90% of the US fiat to crypto market and 75% of the US crypto to crypto market.
Coinbase is launching an OTC desk as announced in recent press release and have a 100 client waiting list for institutional custody solution. Coinbase will also offer coin staking and coin borrowing service for institutionals.
https://cointelegraph.com/news/coinbase-exec-denies-plans-for-ipo-any-time-soon-reveals-plans-to-add-up-to-300-coins
Cointelegraph
Coinbase Exec Denies Plans for IPO ‘Any Time Soon,’ Reveals Plans to Add up to 300 Coins
Coinbase thinks that around 300 out of the total number of cryptocurrencies in existence currently are “worth” offering.
BTC-Morgan_Stanley.pdf
2.6 MB
Morgan Stanley Report on Bitcoin, Cryptocurrencies and Blockchain
IDEX becomes a little less decentralised...
"IDEX has begun taking steps to bring the operation in line with rules that we believe apply to our platform. In addition to blocking IPs in NY, North Korea and Iran, we will also be rolling out IP blocks to Cuba, Syria, Crimea and Washington state.
Over the next few months IDEX will begin instituting KYC procedures for all users to comply with both AML and sanctions laws. Like other exchanges, IDEX will have tiers which correlate with the amount of funds users are able to move through the service. Those trading a small amount of funds will be required to provide a minimal amount of information, while those who wish to trade larger amounts will need to undergo additional KYC steps."
https://medium.com/aurora-dao/pragmatic-decentralization-how-idex-will-approach-industry-regulations-8b109212128a
"IDEX has begun taking steps to bring the operation in line with rules that we believe apply to our platform. In addition to blocking IPs in NY, North Korea and Iran, we will also be rolling out IP blocks to Cuba, Syria, Crimea and Washington state.
Over the next few months IDEX will begin instituting KYC procedures for all users to comply with both AML and sanctions laws. Like other exchanges, IDEX will have tiers which correlate with the amount of funds users are able to move through the service. Those trading a small amount of funds will be required to provide a minimal amount of information, while those who wish to trade larger amounts will need to undergo additional KYC steps."
https://medium.com/aurora-dao/pragmatic-decentralization-how-idex-will-approach-industry-regulations-8b109212128a
Medium
Pragmatic Decentralization: How IDEX Will Approach Industry Regulations
An in-depth look at the technology and regulations every Dapp should consider
Bruno Block grabs the mic again...
Accuses CFO Bill Cordes of running PRL into debt
Accuses team members of leaking Binance info listing and insider trading (Bill & VC freinds), states that "To be clear, the events from October 29th would have never happened if it weren’t for this insider-trading fiasco."
Gives the option of himself taking PRL back over or Bill continunig on with PRL2
More twists than an M Night Shyamalan movie...
https://web.archive.org/web/20181103125749/https://medium.com/oysterprotocol/issues-that-need-addressing-3aafc3942403
Accuses CFO Bill Cordes of running PRL into debt
Accuses team members of leaking Binance info listing and insider trading (Bill & VC freinds), states that "To be clear, the events from October 29th would have never happened if it weren’t for this insider-trading fiasco."
Gives the option of himself taking PRL back over or Bill continunig on with PRL2
More twists than an M Night Shyamalan movie...
https://web.archive.org/web/20181103125749/https://medium.com/oysterprotocol/issues-that-need-addressing-3aafc3942403
Medium
Issues That Need Addressing – OysterProtocol – Medium
Hello everyone, I managed to get a hold of my medium account.
Issues_That_Need_Addressing_–_OysterPr_.pdf
3.1 MB
Full PDF of Bruno Block Medium Post Including Screenshots
Good argument/examples for the use of crypto in developing countries.
https://www.bloomberg.com/news/features/2018-10-31/closing-the-cash-gap-with-cryptocurrency
https://www.bloomberg.com/news/features/2018-10-31/closing-the-cash-gap-with-cryptocurrency
Bloomberg.com
Closing the Cash Gap With Cryptocurrency
In emerging markets, the shallow reach of traditional money systems means there’s less resistance to new financial technology.