TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Payoneer customers affected by Wirecard debacle. Blockstream Liquid froze 870 due to bug. Zimbabwe bans mobile money apps again. Ethereum asks community to donate to fix fee prediction. Binance applies biggest update in two years, and Chase Bank account holders experience technical problems.
Payoneer Customers Affected by Wirecard Debacle
Payoneer, a PayPal-like payments gateway, has also been affected by the problems Wirecard is facing due to a $2.1 billion hole in its finances. Wirecard was the provider of the prepaid cards issued by Payoneer, and now customers from all over the world are protesting on social media platforms because they can’t access the money allocated in their prepaid cards as a consequence of a temporary block issued by the UK regulator FCA. Payoneer tried to ease the worries of its users, stating the company ”believes” this issue will be solved soon.
Blockstream Liquid Bug Blocks 870 BTC
Looks like the liquid emergency 2-of-3 operators can steal 870 Bitcoin because this TXO has aged 2015 blocks?
— James Prestwich (@_prestwich) June 25, 2020
Liquid, the federated BTC sidechain created by Blockstream, has frozen 870 BTC due to the fact emergency functionaries did not sign a transaction after the established period. James Prestwich, a Bitcoin dev, explained on Twitter this could have been the result of a “long-standing bug” in the functionaries’ code that has not been corrected. However, Prestwich argued nobody knows what could have happened really because the behavior of the Liquid federation is “trusted and closed.”
Zimbabwe Bans Mobile Money Apps Again
The government of Zimbabwe has banned all mobile money transactions fueling black market trades, according to local media. The mobile apps are thought to be influencing exchange rates and causing price hikes in goods, something the government is trying to control. However, users of these platforms have been left with no opportunity of using their funds, with the economy also hurting by the lack of cash in the banks. This is the second time Zimbabwe has employed such a, with the first one happening in October of 2019.
Ethereum Turns to Community for Funds Fee Fixing Development
Ethereum devs are asking the community for help to fund a new development aiming to fix the fee market that allows users to pay whatever amount they want. EIP (Ethereum Improvement Proposal) 1559 will try to make the fee market predictable, addressing the issue of high fees the network has been facing due to inaccurate gas predictions. So far, the grant raised 17,000 Dai and a little more than $10,000 worth of Ethereum. ConsenSys and the Ethereum Foundation will fund most of the development costs.
Binance Updates Matching Engine in Biggest Update
This is the largest upgrade to date. We switched the matching engine to a new programming language (and re-wrote all code from scratch, as required). That's as big an upgrade as you can get. 2 years in the making, all for faster performance. Readying for the next wave… #BUIDL
— CZ Binance 🔶🔶🔶 (@cz_binance) June 28, 2020
Binance, the biggest cryptocurrency exchange, completed its largest update to date, according to reports from its CEO Changpeng Zhao. The exchange seems to be preparing for an explosion of new users, as it has upgraded its matching engine for “faster performance.” The update is 2 years in the making, in which Binance has become a Swiss Army knife, accumulating several services under one roof, with its matching engine powering this whole platform. Zhao estimated the new engine will offer 10x performance.
Chase Bank Account Holders Experience Technical Issues
We know some customers reporting seeing incorrect balances in their checking account overnight. This was caused by a technical issue that delayed updates on what displayed on Chase Mobile & Chase Online. We resolved this issue as of 9AM ET and accounts now show current balances.
— Chase (@Chase) June 28, 2020
Account-holders of Chase Bank reported on social media they were experiencing problems with the platform not showing their correct savings. Some users complained about having lost hefty amounts of money, and others stated they had more money in their accounts than what they originally held. The problem was supposedly originated by a technical issue that “delayed updates on Chase Mobile & Chase online.” Despite this, some users claimed they had seen transactions different from what they had done, and not just wrong balances.
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