Autor Cointelegraph By Arijit Sarkar

Ethereum ready for The Merge as last shadow fork completes successfully

Ethereum ready for The Merge as last shadow fork completes successfully

Uverejnil používateľ | sep 10, 2022 |

Ethereum (ETH) developers confirmed the successful completion of the prerequisites — shadow forks — required for the highly anticipated blockchain upgrade, The Merge. Shadow forks help developers stress test synchronization assumptions to ensure network safety during permanent upgrades. In light of The Merge, Ethereum developers implemented the first shadow fork on Apr. 11, 2022.Nearly six months in, Ethereum research and engineering company Nethermind confirmed that the transition in Mainnet-Shadowfork-13 — the last shadow fork — was successful, signaling the readiness of the network for migrating to a proof-of-stake (PoS) consensus mechanism.Transition in Mainnet-Shadowfork-13 (the last shadowfork before The Merge) was successful for all Nethermind nodes!#TheMerge #Ethereum #Nethermind #MSF13 pic.twitter.com/sddPPwSR1u— Nethermind (@nethermindeth) September 9, 2022The testnet allowed Ethereum developers to practice running nodes, deploying contracts and testing the infrastructure, among other functionalities. As a result, shadow forks allow developers to gauge the implications of network upgrades before they happen.As part of the upgrade, the community needs to update their Ethereum clients and run the combination of an execution layer and consensus layer.Related: The Merge: Top 5 misconceptions about the anticipated Ethereum upgradeThe CEO of crypto exchange BitMEX, Alexander Höptner, highlighted the need for paying close attention during the Ethereum upgrade to avoid service downtime. Speaking to Cointelegraph, Höptner explained:“You have to be just, let’s say, awake and see what happens. There’s a chance for high volatility. And so you have to make sure that your services are up and running. […] We don’t expect any major disruptions outside of volatility.”The CEO further stated that the success of The Merge would be dependent on the support of the community.

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FBI seeks Bitcoin wallet information of ransomware attackers

FBI seeks Bitcoin wallet information of ransomware attackers

Uverejnil používateľ | sep 7, 2022 |

Three federal agencies in the United States — the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency and the Multi-State Information Sharing and Analysis Center — jointly issued an advisory seeking information to curb ransomware attacks. As part of the #StopRansomware campaign, the joint cybersecurity advisory alerted citizens of Vice Society, a ransomware-type program that encrypts data and demands ransom for decryption. The trio anticipates a spike in ransomware attacks, primarily aimed at educational institutions, adding that “School districts with limited cybersecurity capabilities and constrained resources are often the most vulnerable.”While proactive measures remain vital to counter ransomware, the FBI asked US citizens to report information that helps track the whereabouts of the hackers. Some key information the FBI seeks includes Bitcoin (BTC) wallet information, ransom notes and IP addresses linked to the attacker. By using wallet addresses, authorities can backtrack illicit transactions on Bitcoin’s immutable blockchain without worrying about the trail going cold. While Bitcoin enables frictionless cross-border transactions, most attackers prefer using fiat currencies to fund their illicit activities. It was also found that only 0.15% of activity on blockchains in 2021 was crime related, which has been going down consistently year over year. Moreover, the three federal agencies strongly discourage Americans from paying ransom “as payment does not guarantee victim files will be recovered.” Individuals affected by ransomware attacks can report the details by visiting a local FBI office or through official communication channels.Related: Crypto app targeting SharkBot malware resurfaces on Google app storeThe Dutch Public Prosecution Service recently tracked down crypto wallets associated with a ransomware attack on Netherland-based Maastricht University (UM).In 2019, a ransomware hack froze all assets of UM, such as research data, emails and library resources. UM later agreed to pay the hacker’s demand of €200,000 in BTC, which is currently valued at roughly €500,000.

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Australian Treasury consults public on Bitcoin foreign currency tax exclusion

Australian Treasury consults public on Bitcoin foreign currency tax exclusion

Uverejnil používateľ | sep 6, 2022 |

Australia’s ministerial department of Treasury reached out to the public to seek consultation regarding draft legislation that would exclude cryptocurrencies from being taxed as a foreign currency if passed.In a press release, Assistant Treasurer Stephen Jones highlighted the Australian government’s intent to exclude crypto assets from being regarded as a foreign currency for tax purposes. However, the legislation would have no impact on the collection of capital gains taxes on crypto held as investments.The public has been provided with 25 days, from Sept. 6 to Sept. 30, to share their opinion on the proposed legislation. If signed into law, the legislation will see the amendment of the existing definition of digital currency in the Goods and Services Tax (GST) Act — effectively excluding crypto assets from the definition of foreign currency. GST is a broad-based tax levied on goods, services and items sold or consumed in Australia.The Treasury noted that the respondent’s personal information, including name and address, will be made public if not proactively opted out from the same. The move to exclude cryptocurrencies as foreign currency is a direct result of El Salvador adopting Bitcoin (BTC) as a legal tender. Australia plans to minimize the potential uncertainties related to taxing cryptocurrencies through this legislation.Related: Australia’s new government finally signals its crypto regulation stanceMendoza, a province in Argentina, has started accepting crypto for taxes and fees. The Mendoza Tax Administration (ATM) stated that allowing crypto payments provide taxpayers an additional option to comply with tax obligations. In addition, the move fulfills its own “strategic objective of modernization and innovation.”From Aug. 24, Mendoza residents can use the ATM’s website to pay taxes using any crypto wallets, including Binance, Bybit and Ripio. The system generates a QR code based on the cryptocurrency selected by the end user, which then converts an equivalent amount of stablecoins to Argentine pesos via an undisclosed online payment service provider.

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FTX to halt Ethereum trades on Arbitrum, Solana, BSC for the ETH Merge

FTX to halt Ethereum trades on Arbitrum, Solana, BSC for the ETH Merge

Uverejnil používateľ | sep 5, 2022 |

While Ethereum devs promised no downtime during The Merge, one of the most anticipated Ethereum upgrades, members of the crypto community decided to take proactive measures to ensure the safety of investor funds. In this effort, crypto exchange FTX announced to halt all Ether (ETH) trades on various blockchains until the September upgrade concludes.The Merge upgrade will permanently transition the Ethereum blockchain from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism — aimed at reducing energy consumption and introducing sharding capabilities.According to Ethereum developers, the Merge is designed to transition to PoS with zero downtime owing to the terminal total difficulty (TTD), which will ensure the transition based on the total mining power that goes into building a chain. Despite the explanation, FTX chose to suspend “deposits and withdrawals until the Merge is finished and networks are stable.”As the ETH merge approaches, FTX will temporarily disable blockchain transfers of secondary chains for ETH to make sure that settlement is clean; main chain ETH transfers will stay active for longer.Details: https://t.co/iVUjo4ZqyO— FTX (@FTX_Official) September 5, 2022The trade suspension for Ethereum on various blockchains has been assigned to commence at different times but remains subject to change based on anticipated complications.FTX’s official timelines for halting ETH trades. Source: FTXFTX also pointed out that the crypto exchange is not liable for any losses in case of large price fluctuations, adding that “It is your responsibility to understand the implications of this announcement.”Related: The Merge: Top 5 misconceptions about the anticipated Ethereum upgradeClarifying one of the biggest misconceptions tied to The Merge, Ethereum Foundation clarified that the upcoming upgrade will not reduce gas fees. The official statement reads:”Gas fees are a product of network demand relative to the network’s capacity. The Merge deprecates the use of proof-of-work, transitioning to proof-of-stake for consensus, but does not significantly change any parameters that directly influence network capacity or throughput.”Instead, the upgrade aims to purely eliminate the need for energy-intensive mining.

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PwC Venezuela Twitter account hacked, attacker shills fake XRP giveaway

PwC Venezuela Twitter account hacked, attacker shills fake XRP giveaway

Uverejnil používateľ | sep 4, 2022 |

An attacker gained access to PwC Venezuela’s Twitter account and has been actively posting cryptocurrency phishing links for the last 8 hours at the time of the writing. Considering that all the tweets posted by the hacker remain active, it is evident that PwC officials are yet to realize the compromise.Investors clicking on the links remain at risk of being defrauded by the hacker. If not mitigated promptly, the threat may be catastrophic, considering that PwC Veleneula’s Twitter currently boasts over 37,000 followers.Cointelegraph has reached out to PwC Venezuela to inform them about the hack. PwC Venezuela has not yet responded to Cointelegraph’s request for comment.Related: Elon Musk-crypto video played on S. Korean govt’s hacked YouTube channelBlueBenx, a Brazilian crypto lending platform, recently blocked 22,000 users from withdrawing funds following an alleged hack that drained $32 million (or 160 million Brazilian real). Regarding the hack, an unnamed investor told Portal do Bitcoin:“I think there’s a high probability of it being a scam because this whole hacker attack story seems like a lot of bullshit, something they invented.”The statement reflects a general lack of trust among investors in centralized crypto exchanges.The official Twitter account of Big four accounting firm PwC, Venezuela, was compromised and has been used by the hacker to share links to fraudulent XRP token giveaways.

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