JP Morgan Launches Fake Cryptocurrency, Coinbase Releases Bitcoin SV Hostages and Coinmama Exposes User Data: This Week in Crypto

This week, JP Morgan Chase launched a blockchain-based IOU system that definitely isn’t a cryptocurrency. Waves Platform and Coinbase both released any Bitcoin SV they were previously holding. Two public pension plans invested in blockchain technology. And let’s not forget, Coinmama, an alternative to Coinbase for easy acquisition of cryptocurrency, suffered a breach. Not much to speak of on the market front, this week. We consistently find the Bitcoin price somewhere between $ 3500 and $ 3700, no matter where you look, besides some esoteric perhaps unsavory markets with low volume. In other news, however, it was a rich week. JP Morgan

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News – CCN

Leaked Crypto Exchange User KYC Data Doesn’t Affect Our Accounts: Binance

By CCN: Binance, the world’s leading cryptocurrency exchange, has recently put out a statement claiming that the leaked cryptocurrency exchange user know-your-customer (KYC) data isn’t from its users, as it uses digital watermarks on every user picture it collects. Recently, CCN revealed a hacker going by “ExploitDOT” was selling leaked KYC data from cryptocurrency exchange

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News – CCN

This CryptoKitty-Loving Ethereum User Has Made Almost 50% of All Augur Profits

By CCN.com: According to a tool created by Ethereum developer Mike McDonald, a single address has garnered almost 50% of the total profits from Augur. Augur is a decentralized predictions marketplace. It was one of the first crypto projects to hold an ICO on Ethereum, back in 2015. Anonymous Ethereum User Dominates Augur’s Betting Markets

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News – CCN

Story: A Coinbase user accidentally sends bitcoin to a litecoin address. Coinbase support claims it’s not recoverable. Someone on Twitter helps the user recover the funds successfully.

Just listened to the story on the recent Blockdigest episode. The TL;DR is in the title.

It's of course the mistake of the user to not being careful enough, but also negligence on part of Coinbase not to have any sort of warning or restrictions in place for sending bitcoin to a litecoin address (which seems like an easy and reasonable thing to implement).

But particularly negligent is to claim that the funds are not recoverable anymore, which is simply not true, and luckily, another Twitter user was able to help recover the funds successfully (worth around $ 2.5k). So the Coinbase support was simply either incompetent or just lazy or lying, which is all equally concerning, as such cases are likely not very rare with all the newbies coming into the space and Coinbase is one of the biggest fiat on-ramps into bitcoin.

Timestamp to the story (as told by @brian_trollz, the person helping with the recovery): https://youtu.be/cvbm0YlKV04?t=3211

Link to the original Twitter thread: https://twitter.com/djjindra/status/1073096138893385728

And the follow up by @brian_trollz: https://twitter.com/brian_trollz/status/1073241960528429056

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Bitcoin – The Currency of the Internet

Coinbase is selling user data. (reddit.com)

I just got a call from (212) 729-7555 asking if I was interested in learning more about Bitcoin and if I wanted to generate profit. The caller said he was calling from Bitcoin Group, and that my information most likely came from Coinbase. Given I never signed up for anything on any Bitcoin related website, I think its safe to assume he got it from Bitcoin. He knew my name and number, both of which are required to register. Is there anything wrong with this? Personally feel a little creeped…

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