TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Some users are reporting having problems with Bitfinex fiat withdrawals. 60% of BTC full nodes still vulnerable to inflation bug. Josh Ellithorpe explains why CashShuffle is not a money laundering service. Pitbull will sponsor music industry blockchain “Smackathon.” Pantera Capital invests in bloXroute scaling solution, and Bitfinex LEO token white paper claims they operate with 97% profit margins.
Bitfinex Withdrawals On Hold
The legal suit that the New York Attorney General Office has started against iFinex, the company behind Tether and Bitfinex, made a direct impact on the exchange’s users’ ability trust, some enthusiasts are claiming. More than $400 million dollars have left cold wallets of the exchange, and some users claim fiat withdrawals have been put on hold, according to CryptoSlate. The report even claims some accounts were frozen due to this issue.
60% of Bitcoin Nodes Still Vulnerable to Inflation Bug
Luke Dash Jr. announced almost 60% of the Bitcoin full nodes are still vulnerable to the dreaded CVE-2018-17144 bug, also known as an inflation bug. Even after being discovered Fall of last year, most of the active nodes have not updated their software to patch the dangerous bug. At the time there are more than 99,638 full nodes operating in the bitcoin blockchain, so almost 60K of these nodes would be still open to this kind of denial of service attack.
Josh Ellithorpe Explains Why CashShuffle is Not Money Laundering
On the heels of US regulators publishing guidelines regarding potential money laundering hazards in crypto services, Josh Ellithorpe, one of the main developers of CashShuffle, the anonymizing project that obfuscates transactions on the Bitcoin Cash network, explained in a Shitcoin.com feature video that CashShuffle was not robust enough to be considered a money laundering tool, but it does provide a certain level of privacy.
Pitbull to Sponsor Blockchain Based Smackathon
Armando Rodriguez, also known as Pitbull, wants to include bitcoin in the solution for music industry-specific problems, so he has organized a music “Smackathon,” where developers will apply blockchain to these issues. The performer declared on Twitter, “It’s time for a major change in the music industry! Blockchain developers, we need your help to empower artists worldwide.” The said Smackathon will be held in Miami Beach at the eMerge Americas conference.
Pantera Capital Invests in bloXroute Labs “Layer 0” Scalability Solution
We invest in projects that we believe will drastically disrupt the blockchain industry, and @bloXrouteLabs is doing just that. By optimizing the network layer, they will help to elevate all blockchain projects.https://t.co/7rMC73i2Ry
— Pantera Capital (@PanteraCapital) May 9, 2019
Pantera Capital, one of the most important investment firms and blockchain-focused fund, invested $10 million dollars along with Coinbase Ventures and Fenbushi in bloXroute, a layer-0 startup seeking to solve scalability problems by optimizing the networking layer. Pantera declared in its official Twitter account they have invested in this tech because it will be disruptive, helping all blockchains to scale and elevate.
Bitfinex White Paper Claims They Make 97% Profit
A new white paper designed to give insight to potential buyers of a new token Bitfinex will issue (to cover the funds that were seized by Portugal and other countries) claims Bitfinex’s operating profit is about 97%. The exchange declared it has a payroll of 60 to 90 workers and expenses of $14 million last year. However, take these figures with a grain of salt because the info has not been audited, according to Bloomberg.
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