Crypto Highlights Week #43 – CoinMarketCap hack reportedly leaks 3.1 million user email addresses

Crypto Highlights Week #43 – CoinMarketCap hack reportedly leaks 3.1 million user email addresses

Crypto Highlights: BTC price sentiment, SaTT launches YouTube campaign, CMC data leak, Walmart started hosting BTC ATM: These and more in this week’s Crypto Highlights.

Top Headlines Of The Week

• A new report has purportedly discovered that Walmart has quietly installed BTC ATMs in several of its stores.
• A proposal for Binance Smart Chain recommends introducing a fee-burning mechanism just like Ethereum’s EIP-1559
• According to Have I Been Pwned, 3.1 million email addresses belonging to CoinMarketCap accounts were purportedly exchanged on hacker forums.

Top Stories Of The Week

Binance Smart Chain proposal would see an ongoing burn like Ethereum’s EIP-1559

According to a recent proposal, Binance Smart Chain should include a regular fee-burning mechanism, similar to the one used by Ethereum’s EIP-1559. The plan is currently in draft form and will be put to a vote before being enacted.

The concept proposes that a part of each block’s transaction fees be burnt, with the percentage being modifiable through the network’s governance mechanism. As a result, the network’s validators would earn fewer transaction fees since they would be destroyed instead. Over time, this would assist to reduce the circulating supply of BNB.

When bitcoins are transmitted to a “burn address” and are no longer accessible, this is referred to as “burning.” They are considered destroyed and no longer count in the overall quantity of coins because no one can spend them.

According to the idea, the first percentage of incinerated fees should be set at 10%. The network now receives roughly 6814 BNB ($3.4 million) each day in transaction fees, so a burn of that amount would lower supply by 681 BNB ($334,000) every day.

A minimum deposit of 2,000 BNB is required for the proposal to be put to a vote. If this occurs, validators on the network can vote to approve or reject the modifications. If it passes, the change will go into effect right away.

Walmart Has Quietly Begun Hosting Bitcoin ATMs

Walmart, the world’s largest retailer by revenue, is now selling bitcoin at hundreds of its U.S. locations.

Customers may buy cryptocurrencies through Coinstar ATMs located throughout the retailer’s massive large box shops. On Oct. 12, a CoinDesk editor tested the service by purchasing a modest quantity of Bitcoin at a Pennsylvania Walmart.

Walmart communications director Molly Blakeman told CoinDesk via email, “Coinstar, in cooperation with Coinme, has launched a trial that allows its customers to utilize the cash to purchase bitcoin.” “This pilot includes 200 Coinstar machines that are positioned within Walmart shops across the United States.”

A paper voucher is given once bills are inserted into the machine. Before the coupon can be redeemed, you must first create a Coinme account and pass a know-your-customer (KYC) check. According to the Coinstar website, which was confirmed by CoinDesk, the machine costs a 4% fee for bitcoin and a 7% fee for cash conversion.

Following a scam last month in which a bogus press release stated that Litecoin (LTC) would be accepted as payment in Walmart shops, CoinDesk tested the service out of an excess of caution. The bitcoin-Bentonville link is true this time. This time, the bitcoin-Bentonville connection is real. A source with knowledge of the pilot said the Litecoin debacle had put Walmart, which is based in Bentonville, Ark., off from issuing a press release.

Mainstream Adoption Of The Week

CoinMarketCap hack reportedly leaks 3.1 million user email addresses

CoinMarketCap, a surprise entry in the weekly crypto highlights steals the spotlight but for not so positive reasons. The website has purportedly been hacked, exposing 3.1 million (3,117,548) user email addresses.

Have I Been Pwned, a website dedicated to tracking breaches and compromised internet accounts, disclosed the information after the hijacked email addresses were discovered to be bought and sold online on various hacker forums.

The list of leaked user accounts matched the user base of CoinMarketCap, a subsidiary of the Binance cryptocurrency exchange:

“CoinMarketCap has become aware that batches of data have shown up online purporting to be a list of user accounts. While the data lists we have seen are only email addresses, we have found a correlation with our subscriber base.”

On Oct. 12, the business confirmed the linkage of 3.1 million (3,117,548) user email addresses with its user base, assuring that the hackers did not acquire access to any account passwords. “We have not discovered any indication of a data breach from our own systems,” a CoinMarketCap spokesperson stated. “We are currently researching this problem and will notify our subscribers as soon as we receive any new information.”

Despite the confirmation, CoinMarketCap has failed to pinpoint the root of the attack. CoinMarketCap responded to Cointelegraph’s request for comment by saying:

“As no passwords are included in the data we have seen, we believe that it is most likely sourced from another platform where users may have reused passwords across multiple sites.”

This Week’s Market Sentiment

Bitcoin ‘still bullish’ even if BTC price drops to $50K — analysis

Bitcoin is yet again the talk of the town after its bullish sentiments and this week’s market sentiment of the crypto highlights is focused on that. After breaching all-time highs, Bitcoin (BTC) may return below $50,000 without violating an overall “bullish thesis,” according to a new study. Decentrader, a crypto trading platform, said in its latest market update on Oct. 22 that there was no reason to be pessimistic on Bitcoin after it touched and retraced from $67,000.

Concerns grew after Bitcoin broke an all-time high that had been in place for six months, and a correction occurred that wiped 10% of its gains in a single day. Despite two drops below $60,000, economists have maintained their bullish outlook for the coming weeks and months. Filbfilb by Decentrader is no exception.

“We have been tracking a Bitcoin fractal pattern for a number of weeks now, which, if it continues, would imply to play out, that the next major stop higher for Bitcoin would be $72k if momentum can be maintained, after which the 1.618 extensions suggests around $88k would prove to be a target of interest, which ties in with the idea that $100k will see some front running by sellers,” he summarized.

Cooling funding rates, more exposure from Bitcoin futures ETFs, and robust buyer demand, according to him, are all favorable for further gains. The weekend, when markets are normally weaker, might offer a surprise move up or down, with an upswing likely encountering resistance above $65,000, the previous high.

Filbfilb also stated that he was prepared for a deeper BTC price drop, but that he would have to work very hard to overcome his optimistic belief. “$50k will be a key region of interest to us if there is a substantial reversal and break in structure,” he continued.

“Although there is no significant evidence of this now, we are prepared for an opportunity, should it present itself. Even if prices do retrace to these levels, it does not break our overall bullish thesis.”

Exclusive From SaTT

SaTT launches its first performance-based Twitter Ad Pool for its community

In the sphere of advertising and social media, a fresh wind is blowing! The connection between advertisers and content creators has never been easier thanks to DeFi and smart contracts. Learn how the SaTT platform works and enter to win cryptocurrency by taking part in the YouTube Challenge!

SaTT is a decentralized application that connects advertisers and content creators. The principle is simple:

• An advertiser has an advertising need. He creates an “Ad Pool” on SaTT, where he deposits his advertising budget, which is sequestered on the blockchain.
• A content creator wants to participate in this advertising campaign. He publishes his promotion on social networks (Facebook, YouTube, Instagram, or Twitter). This is what SaTT calls “Post Farming”.
• SaTT uses smart contracts to communicate with third-party APIs. The application can then know the exact performance of the publication: number of views, likes, retweets, etc.
• The creator is automatically paid in SaTT tokens from the Ad Pool budget. His remuneration is calculated via smart contracts according to the performance of his publication.

To make the launch of this new advertising system official, SaTT is launching a campaign called “Proof of Concept: YouTube Challenge“. The objective is to generate 5 million views on YouTube to promote SaTT through at least 50 YouTubers worldwide.

An Ad Pool has been created and credited with 100 million SaTT tokens. All content creators are invited to participate in promoting SaTT and monetizing their audience!How to participate in SaTT’s YouTube Challenge? Please head over to the blog post to find more.

This Week’s Crypto Meme

We hope you enjoyed this week’s edition of crypto highlights. For a peek at our last edition of crypto highlights & blockchain news, click here.