TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Vertcoin suffers 51% attack. EOS Planet flees EOS blockchain. Ethereum Foundation’s Virgin Griffith posted bond after being arrested for traveling and speaking North Korea. Senior Dash advisor disappears with funds from investors. Bitfinex supports Lightning Network deposits and withdrawals, and Kraken will migrate to Multi Collateral Dai.
Vertcoin Suffers 51% Attack Again
Vertcoin, a suppossed Bitcoin clone cryptocurrency that switches algorithms to avoid ASICs being deployed on its blockchain, suffered a 51% attack that managed to replace 603 blocks of the original chain with 553 blocks from the attack. According to James Lovejoy, lead maintainer of Vertcoin, the attack seems to have been performed with rented hash from Nicehash. This is the second 51% attack the currency has suffered (the first happened December 2018, leading to the change in their PoW algorithm).
EOS Planet is Leaving EOS Blockchain Due to Congestion
EOS Planet, a dApp aiming to construct decentralized worlds based on the EOS blockchain, decided to jump ship and move to another network, called the Ebakus blockchain. “Last month the EOS blockchain got completely congested… it killed any hope for pushing out the game update we were planning,” they declared. EOS Planet is not the only startup jumping ship due to EOS congestion; Earn BET, another gambling and betting app, also put a 30-day ultimatum to leave the blockchain.
Virgil Griffith to be Released Pending Trial
I now represent Virgil Griffith and am very pleased that today the judge found that he should be released from jail pending trial. We dispute the untested allegations in the criminal complaint, and Virgil looks forward to his day in court, when the full story can come out.
— Brian Klein (@brianeklein) December 3, 2019
Virgil Griffith, the cryptocurrency developer who apprehended for allegedly helping North Korea evade US economic sanctions, will be released pending trial. The news came from his lawyer, Brian Klein, who also represented ShapeShift’s CEO Eric Voorhees in a settlement case with the SEC. Klein has also been a panelist and speaker at many cryptocurrency events and conferences. According to Klein, Griffith is looking forward to dispute the allegations of the US government “in court, when the full story can come out.”
Dash Senior Advisor Disappears with Users’ Funds
Senior Advisor for Dash Core Group (@Dashpay), owner of a "Masternode Shares" service, disappears with the funds of several Dash Investors.
Dash Core Group tells users to figure it out themselves: "there is power in numbers".@CoinSpice @coindesk @fluffypony pic.twitter.com/uiuvt9AlJL
— DashUncensored (@DashUncensored) December 2, 2019
Moocowmoo, a listed senior advisor for the Dash cryptocurrency and also the manager of a shared masternode service, reportedly disappeared recently, taking the funds of his customers with him. Several users have tried to contact him since August, but without success. Even Tungfa, Director of Communications at the Dash Core Group, was unable to help, replying to an inquiry by simply saying “there is power in numbers.” Users are still trying to get their funds back.
Bitfinex to Support Lightning Network Deposits and Withdrawals
— WhalePanda (@WhalePanda) December 2, 2019
Bitfinex, the exchange involved in a legal battle with the NY State Attorney General, announced they will be the first exchange to support Lightning Network deposits and withdrawals. However, Lightning Network, a supposed second layer scaling solution for BTC, is still in beta version, so it remains to be seen what, if any, kind of restrictions the exchange puts around this feature. Recently, research by a Hungarian University computer scientists pointed out flaws in its design, and in October a node owner lost thousands through the network.
Kraken to Support Multi Collateral Dai
Cryptocurrency exchange Kraken migrated their support to Multi Collateral Dai, a new upgrade on the currency that uses other currencies besides Ethereum as collateral for the currency. Kraken will migrate all of their users to the new Maker contract. Users who want to opt-out will have to withdraw their funds to a personal wallet. The new Multi Collateral Dai will be referred to as DAI, and the old currency will be referred to as SAI.
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