Blockchain News Today

The Adult entertainment crypto-based project SpankChain was anonymously hacked and suffered a loss of 165.38 ETH, around $38000 reported by the firm on its Medium page on October 9. The hack which originally took place on Saturday at 6.00 pm PST was spotted by Spank Chain a day after, and was disclosed today in a blog post dubbed “We Got Spanked: What We Know So Far”. Incognito hackers managed to breach the system and flee with 165.38 ETH from the firm’s payment channel smart contract. In addition to this, the hack caused the arrest of $4000 which is worth of project’s internal token known as BOOTY. Though most of the funds belong to the firm itself, SpankChain claimed that client refunds are of foremost importance. The firm will soon reimburse $9300 worth of Ethereum and ICO tokens directly to users account through Airdrop. The SpankChain developers were in the midst of inspecting smart contract bugs at the time of the attack. Consequently, the firm was ...

Bitcoin (BTC) use for commercial payments has reduced meaningfully this year, as per a study by Chainalysis stated by Reuters Nov. 20. To prepare the study, C analysis allegedly surveyed 17 Bitcoin payment processors. The amount of BTC handled by major payment processors supposedly dipped by almost 80 percent from the commencing of the year to September. The analysis of individual payment processors’ figures allegedly portrays a downward trend. At Canadian firm Coin payments, the value of transactions has plummeted by more than half between January and October 2018, Reuters reports, mentioning data from blockchain analysis site OXT. Lex Sokolin, global director of fintech strategy at research firm Autonomous Next, stated that “Bitcoin payments processing is seeing a slow but consistent decline.” Comprehensive data on the leading digital currency used for payments is apparently not consistent since trades with other currencies are commonly comprised together with its ...