Breaking CryptoNews: Critical Security Update - Internal Report Shows GDAX & Coinbase may be Insolvent
"We have come to learn that users may be at risk from the exhanges Coinbase and GDAX. This is breaking right now and we have some pending reports of how deep this may actually reach.
In actual fact, GDAX and Coinbase are related. They are owned by the same company.
It has become apparent that GDAX have suffered major replay attacks in the early trading of the new hardfork (ETHF) clone. They did not properly secure themselves from the attack after advice presented by the Ethereum foundation was taken.
During this period it is unknown what actual amount of ETC was relayed but we have estimated it is much bigger than initially anticipated. This occurred over a number of days as GDAX where assured by the Ethereum foundation there would be no interest in the original and unbreakable genesis chain. They where even aware of the attack vector but left it unpatched." -Bitflix
P.S. Not sure what might happen in the near future, but it is necessary to keep abreast of
I think there's more then meets the eye with the current state of this Ethereum mess. I don't believe people who are soooooo smart could get things soooooo wrong. I'm feeling this might of been a con from the start. Here's a link from a reddit post from February 2015. What is this "bomb" about? https://www.reddit.com/r/ethereum/comments/2w08qk/progress_on_the_bomb/
it's even more fun
O my god
agree with @poias - just too perfect a storm has brewed right after the other one settled. Whatever shakes out won't be positive in the near term for crypto though plenty will profit in the near term and of course there must be people on the other side of that play as well.
I think when they were setting up their game theory moves they didn't factor in people like me and you.... If it's all just a smokescreen to accumulated more BTC... let's not make it so easy for them to succeed .
In any case, I advise to withdraw funds from Coinbase
Coinbase don't Include Ethereum Classic Support Anytime Soon
The unexpected rise of Ethereum Classic, the original Ethereum blockchain without a hard fork has got few leading cryptocurrency exchanges considering its implementation into their platforms. Poloniex became the first cryptocurrency exchange platform to include ETC support, with few more expected to do so soon.
However, one platform that doesn’t want to jump into the ETC bandwagon right now is Coinbase. The leading US-based digital currency exchange platform has recently made it clear that the platform will not be supporting Ethereum Classic anytime soon. The announcement made on Coinbase’s GDAX twitter account reads,
“We wanted to provide some clarity to GDAX users who are concerned with the recent Ethereum hard fork. GDAX supports trading and withdrawals only for the ETH (Ethereum) network and currently does not support ETC (Ethereum Classic).
Customers are advised not to deposit ETC or any unsupported digital currency to GDAX.
For customers who had ETH balances on GDAX immediately prior to the hard fork on July 20, 2016:
100% of ETC associated with ETH balances at the time of the hard fork are secured in GDAX cold storage.
We plan to allow withdrawal of an amount of ETC that corresponds to ETH balances at the time of the hard fork. We’ll be working on this feature over the coming weeks and will provide updates via this Twitter account.
ETC associated with ETH sent to GDAX after the hard fork is not supported by GDAX.
We currently do not have plans to support ETC trading on GDAX (although we are not philosophically opposed to any particular hard fork or coin). We will continue to monitor the situation and evaluate customer demand for new digital assets to add to the platform.”
However, Coinbase has not definitively said that it will not support ETC, which means that GDAX may still offer ETC support sometime in the future provided the cryptocurrency continues to trade profitably making headlines. On the other hand, the proposed delay in returning the ETCs associated with ETH balance has not been received well by some people in the cryptocurrency community. There are various comments on social media questioning the company’s ethics regarding this decision.
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As soon as Ethereum Classic started trading on Poloniex, there was a surge in trading which drove ETC price through the roof. The new digital asset ETC went on to become the fourth largest cryptocurrency for some time. Currently, Ethereum Classic holds the sixth position in terms of total market capitalization, below Ripple and Litecoin.
Leading cryptocurrency platforms like Kraken and Shapeshift have already expressed interest in including ETC support on their respective exchanges. If Ethereum Classic continues to perform well, then we can expect more platforms to include ETC support in the coming days.
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but today is pump
:-///
Nice @on0tole
Shot you an Upvote :)
Keep up the great work @on0tole
Upvoted
Upvoted
Nice @on0tole
Shot you an Upvote :)
I dont's understand why I see this " reply" on most articles I'm reading.. What's your motive? Is this some sorta of way to game the platform for Steem Power? I think I'm gonna start flagging these similar replies I keep seeing if you don't take some time to reply to this and help me understand why you "shot" this article an upvote?
Because it is bot
Keep up the great work @on0tole
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