In today’s edition of Bitcoin in Brief we feature news about a Dubai-based exchange returning to accept local fiat deposits, another exchange launching an ETF-like product and the response by a popular wallet to a cyber attack. But the big story, without a doubt, is Woz’s undying commitment to the idea of bitcoin.
Apple Co-Founder’s High Hopes for Bitcoin
Steve Wozniak, the genius co-founder of Apple Computers, has once again spoken about his fascination with the tech and principles of bitcoin. “Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions,” he told CNBC. “Only bitcoin is pure digital gold… and I totally buy into that,” Woz added.
Okex’s New Exchange Traded Tracker (ETT)
Okex, the Chinese-run cryptocurrency exchange based in Hong Kong, has joined the recent trend of trading platforms creating their own ETF-like investment tools for their users. It launched its first exchange traded tracker (ETT) on June 5, which was fully sold out within just three minutes. It includes six coins (BTC, ETH, LTC, BCH, EOS, and OKB) and requires USDT to subscribe. The minimum subscription for the instruments is 100 units.
A couple of days ago, we reported that Huobi, the Singapore-headquartered exchange, has decided to create its own ETF style instrument based on an index of ten assets.
Bitoasis Resumes Dirham Transactions
Last month, Dubai-based cryptocurrency exchange Bitoasis enacted a suspension of deposits and withdrawals in UAE dirhams. This Monday, without explaining what was the cause of the issue, the company announced that transactions are reinstated. In a letter to its clients, quoted by Arabian Business, Bitoasis apologized for the inconvenience and said that now “users can deposit and withdraw their funds in AED as usual, without any interruption.”
“In light of the recent inconsistency of service across our payment options, we will be revising and updating the options available to our customers on the platform to ensure continuity of our services,” the Bitoasis statement continued. “We will be notifying our customers with the update on our new payment options soon.”
Myetherwallet Attack Blamed on Russian Hackers, Uneducated Users
Myetherwallet (MEW), the web’s most popular client-side ethereum wallet, has been compromised by a DNS attack on April 24, 2018. Today the team behind the wallet issued a response to the event, further explaining what happened and detailing the steps taken to prevent its reoccurrence.
They say that the attack was carried out by a native Russian speaker, which was able to phish only about $150,000 worth of ether from MEW users. They quote Internet Security experts as explaining that the “financial resources required for such an attack likely exceeds the amount of funds taken.”
The team added that it is a lack of safety education that led some clients to fall for the fraud. “We hope that from this experience, every single person who interacts with cryptocurrencies and the blockchain will understand how important self-education is. In the end, you and only you are responsible for your security.”
What do you think about today’s news? Is bitcoin going to be the world’s single currency in ten years? Share your thoughts in the comments section below.
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