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MyEtherWallet Gets Hit By CyberAttack From Google Chrome Store Hackers

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MyEtherWallet (MEW), one of the most well-known services for managing Ether wallets, recently took to social media to relay an urgent message about a potential cyber attack. According to the Tweet, the Hola VPN extension was in a hacked state for five hours, allowing for the hackers to monitor the activity of some MyEtherWallet users through the extension.

Ironically enough, the VPN service meant to secure your online experience has slipped up again, with this most recent situation being Hola’s second case of bad press.

The wallet service advised that MEW users who had the Hola extension installed should immediately move their funds to a secure wallet, ensuring that the risk of attack is mitigated.

Unlike many other traditional third-party wallets, MEW takes a ‘you are your own bank’ approach, encouraging its users to take control over their own private keys. Although the MEW service has been lauded for the decentralized aspects it offers, the private key system increases the risk of fund loss/mismanagement on a user-to-user basis.

Hola VPN, a free virtual private network (VPN) service with almost 50 million users, later released a report, giving their take on the situation. The blog stated:

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Ledger secures $75m for crypto security

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The demand for secure crypto storage is almost as high as the demand for the assets themselves. Only a few companies at the moment are offering solid secure offline storage devices for cryptocurrencies and they are selling out like hot cakes. Ledger is one such company and it has just secured its second round of investments which will go into research and development and up-scaling operations.

In a press release on the company blog yesterday Paris based Ledger announced that Series B of funding has now been completed with 75 million USD secured in investments. The first round of investments was held in March 2017 where $7 million was raised. Leading the way was London based capital markets firm Draper Esprit whose CEO Simon Cook said;

“Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success and we believe that Ledger has built the world’s best security platform to manage private keys for all blockchain and crypto asset applications. This is a global company for a global industry and we have built an international syndicate through the Draper Network to support the team in their huge ambition.”

A number of other venture capitalist partners added to the stash which included Draper Associates, Draper Dragon and Boost VC, as well as FirstMark Capital, Cathay Innovation, and Korelya Capital.

Eric Larchevêque, Ledger CEO, was pleased with the outcome;

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Building Cryptocurrency Agnostic Components in My-Wallet-V3 and My-Wallet-V3-Frontend

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At Blockchain, we’re striving to write reusable, extendable, and flexible code. This practice has become even more important with the recent addition of Bitcoin Cash and ether to our wallet application. For our users, adhering to writing agnostic components makes project delivery speeds faster and more consistent. For our developers, it makes the code fun to work with and less buggy.

A few months ago, we added ether to the Blockchain wallet along with a crypto-to-crypto exchange integration. This feature was the first we’ve built that supports multiple cryptocurrencies (instead of just bitcoin to fiat or vice versa). In our efforts to build reusable, extendable, and flexible code we built it to support any digital currency our wallet currently offers or will offer in the future.

The components that make up our exchange integration are completely agnostic to the currencies the user wishes to shift. Any digital currency can be plugged into the integration as long as it’s “API” in the My-Wallet-V3 core supports a few basic functions. Let’s walk through how this works a little bit.

When the wallet initializes the exchange checkout process it passes the destination and origin wallets to the shift-create component from the shapeShiftCheckout controller:

My-Wallet-V3-Frontend/assets/js/controllers/shapeshift/shapeShiftCheckout.controller.js

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Wallet Developers Express Security Concerns Over BitPay’s Payment Protocol Policy

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On December 14, 2017, BitPay announced a first step toward enforcing the payment protocol: All orders of the BitPay Card will require payments from Payment Protocol-compatible wallets, such as BitPay’s own wallet and a few others. This announcement came after an initial notice in November 2017, when BitPay first announced that BitPay invoices would soon require payments from wallets compatible with the Bitcoin Payment Protocol.

BitPay’s move has since been met with resistance by some wallet developers that don’t support the Bitcoin Payment Protocol; some are suggesting that BitPay is abusing its leading position in the payment processing space and putting user security at risk.

“We absolutely do not support BitPay in aggressively using their dominant position of market share to bully wallet providers into supporting their business plans or bully users into a system that degrades their privacy and the fungibility of bitcoin as a whole,” stated bitcoin wallet Samourai in its blog post of January 2, 2018.

The Bitcoin Payment Protocol (BIP70), proposed by Gavin Andresen and Mike Hearn in 2013, describes a protocol for communication between a merchant and their customer, “enabling both a better customer experience and better security against man-in-the-middle attacks on the payment process.” A detailed explanation of the details of the payment protocol, written by Mike Hearn in Q/A format, is available on the Bitcoin forum.

According to BitPay, the Payment Protocol will reduce user error in bitcoin payments, such as payments sent to a wrong address or with a transaction fee that is too low for fast processing by the Bitcoin network.

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Multisignature Wallets on CEX.IO

Since the introduction of Dash on CEX.IO platform, our users have received an additional option for their trading activities. Today we would like to draw your attention to the fact that we support only the multisignature wallets for DASH on CEX.IO. While they are still not used by other platforms, they allow ensuring higher security of the transactions performed by the users.

What Does It Mean for Users?

In some cases, depositing your Dash to CEX.IO may be challenging as far as some services do not recognize Dash address starting with 7 as valid. This issue arises as many exchanges still do not use Dash multisignature wallets. Still, as stated in DASH release notes (from May 2015), wallets starting with 7 are completely functional.

What Should I Do?

In the situation when another exchange service does not accept Dash wallet starting with 7, there are two ways to solve the issue.

The first variant is to contact the exchange and tell them that the wallet is valid and ask to validate it on the platform. At the same time, it may take some time. The second variant is you own controlled way – to transfer funds to CEX.IO account, you can use the external wallets. Here is the list of possible steps: withdraw Dash from your exchange to your Dash wallet outside CEX.IO; deposit your funds to CEX.IO using that wallet.Why Use Multisig?

The principle of multisig wallets allows the higher security of funds. While many exchanges do not use them, we pay much attention to the safety issues. At CEX.IO, we also work with this type of wallet for the security reasons. It allows us to ensure that the funds of our customers are completely safe.

Original linkOriginal author: Natalie
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Jaxx Announces the Addition of Presearch to the Jaxx Wallet

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Jaxx Announces the Addition of Presearch to the Jaxx Wallet

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