Massive Twitter Hack Attempts Bitcoin Scam; Does DeFi Make Ether A Better Bet?

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SCAMMERS TARGET CELEBRITIES

Bitcoin took over a nationwide information cycle Wednesday night as scammers hacked the accounts of dozens of high-profile figures, together with Invoice Gates, Jeff Bezos, Joe Biden and Barack Obama. They posted rip-off bitcoin giveaways and enticed customers to ship greater than $100,000 to their addresses.

We’re fortunate the attackers are going after bitcoin (cash motivated) and not motivated by chaos and destruction,” cybersecurity govt Rachel Tobac mentioned to CNBC.

With Twitter reeling from the unprecedented hack, blockchain-based platform Revolution Populi is gearing as much as launch quickly to problem the present social media giants. It plans to make use of blockchain to provide customers management of their knowledge and can use chainlink’s good contracts to reward customers for exercise—chainlink’s hyperlink token is surging once more, up 100% within the final month and up 1,000% since Could 2019.

CRYPTO MARKETS

Institutional demand for bitcoin is rising, as crypto-asset supervisor Grayscale reported file inflows of $906 million within the second quarter, however the value of the world’s largest cryptocurrency nonetheless isn’t making any vital strikes. There could also be extra buzz round ether, which has almost doubled because the begin of the 12 months and seen its lively tackle rely develop by 118%, in comparison with a 49% enhance for bitcoin.

Pushed by a decentralized finance (DeFi) growth, the Ethereum blockchain serves as a key element of purposes for stablecoins and the brand new decentralized lending market Compound. DeFi could even be serving to to prop up bitcoin to a lesser extent, with $241 million of bitcoin at the moment locked in DeFi purposes.

BITCOIN AND BIBLES ON THE BEACH

A seaside neighborhood in El Salvador, fueled by a donation price six figures from an nameless early investor in bitcoin on the situation that it wouldn’t be cashed out, is attempting a grand experiment. Residents use bitcoin to pay for something from groceries to provides to utilities. Michael Peterson, the director of the Bitcoin Seashore initiative, additionally manages and fundraises for a missionary group in El Salvador referred to as Missionsake, although he maintains that Bitcoin Seashore is nonreligious.

BITCOIN CORE PIONEER

Amiti Uttarwar, the daughter of Indian immigrants and a local of San Jose within the coronary heart of Silicon Valley, is the first confirmed girl developer of the Bitcoin Core. Uttarwar graduated from Carnegie Mellon and ultimately made her strategy to Coinbase, the place she developed a ardour for crypto. Final 12 months, she was accepted to her new pioneering position that will get her as shut as doable to the atomic degree of the protocol underpinning bitcoin.

ENTERPRISE

Earlier than bitcoin funds startup Zap introduced a partnership with Visa
V
in June, it quietly raised $three.5 million in a seed spherical, based on paperwork filed with the SEC. The Visa partnership will allow anybody granted a card to make instantaneous funds via bitcoin’s Lightning Community. 

“I believe tens of tens of millions of individuals shall be utilizing these things within the subsequent few years, and that simply takes somewhat little bit of capital,” says Jack Mallers, Zap’s 26-year-old founder.

ELSEWHERE

After the Twitter Hack, We Want a Person-Owned Web Extra Than Ever [CoinDesk]

Twitter Hackers Depart Path With Bitcoin Pockets Cash Shifts [Bloomberg]

As Cash Printer Goes Brrrrr, Wall St Loses Its Concern of Bitcoin [Cointelegraph]

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