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The software available for download on Monero’s (XMR) official website was compromised to steal cryptocurrency, according to a Nov. 19 Reddit post published by the coin’s core development team.

The command-line interface (CLI) tools available at getmonero.org may have been compromised over the last 24 hours. In the announcement, the team notes that the hash of the binaries available for download did not match the expected hashes.

The software was malicious

On GitHub, a professional investigator going by the name of Serhack said that the software distributed after the server was compromised is indeed malicious, stating:

“I can confirm that the malicious binary is stealing coins. Roughly 9 hours after I ran the binary a single transaction drained the wallet. I downloaded the build yesterday around 6pm Pacific time.”

An important security practice

Hashes are non-reversible mathematical functions which, in this case, are used to generate an alphanumeric string from a file that would have been different if someone was to make changes to the file.

It is a popular practice in the open-source community to save the hash generated from software available for download and keep it on a separate server. Thanks to this measure, users are able to generate a hash from the file they downloaded and check it against the expected one.

If the hash generated from the downloaded file is different, then it is likely that the version distributed by the server has been replaced — possibly with a malicious variant. The Reddit announcement reads:

“It appears the box has been indeed compromised and different CLI binaries served for 35 minutes. Downloads are now served from a safe fallback source. […] If you downloaded binaries in the last 24h, and did not check the integrity of the files, do it immediately. If the hashes do not match, do NOT run what you downloaded.”

In general, blockchain development communities are vigilant in tracking possible vulnerabilities and maintaining network integrity.

In mid-September, the developer of Ethereum decentralized exchange protocol AirSwap’s developers announced a different important development for their project’s security. More precisely, they revealed the discovery of a critical vulnerability in the system’s new smart contract.

In order to incentivize network integrity, some organizations have founded bounty programs that reward so-called white-hack hackers for exposing vulnerabilities.

Cointelegraph By Adrian Zmudzinski , 2019-11-19 13:00:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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