Two Thirds of Korean Crypto Exchanges Fail Government Security Check

Only a third of cryptocurrency exchanges inspected got a full pass in a recent government security audit. The Ministry of Science and ICT, the Korea Internet & Security Agency and the Ministry of Economy and Finance inspected a total of 21 crypto exchanges from September to December 2018, examining 85 different security aspects. Notably, only 7 of them – Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco, and Huobi Korea – cleared all the tests, CoinDesk Korea reported Thursday. The remaining 14 exchanges are “vulnerable to hacking attacks at all times because of poor…

China’s Internet Censor to Start Regulating Blockchain Firms Next Month

China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February. The Cyberspace Administration of China (CAC) published its new “Regulation for Managing Blockchain Information Services” on Thursday, defining blockchain information service providers as “entities or nodes” that offer information services to the public using blockchain technology via desktop sites or mobile apps. The rules become official on February 15, according to the release. Among the 23 articles listed in the document, one requires blockchain service providers to register with…

Token Exchange DX.Exchange Says It Has Patched Security Vulnerability

Security token trading platform DX.Exchange says it has patched a security vulnerability that allowed anyone to access user authentication tokens. DX.Exchange, which went live on Monday, offers crypto tokens representing shares in a number of Nasdaq-traded firms. The company uses Nasdaq’s matching engine and financial information exchange protocol to facilitate the trading of these digital securities. However, in its first few days, the platform revealed sensitive data, including password reset links, as reported by Ars Technica. It is unclear how many user accounts were at compromised, though an anonymous trader told…

Seed CX Launches New Wallet Features for Institutional Clients

Institutional-focused crypto exchange Seed CX is launching a new wallet solution aimed at adding security and transparency for its customers. The company, which raised $15 million in funding last fall, announced Thursday that its new wallet features on-chain settlement, and provides each customer a unique wallet rather than using omnibus wallets. Provided through its settlement subsidiary Zero Hash, the new wallets allow the exchange to synchronize its internal accounting on the appropriate blockchain. As such, market participants can independently verify all deposits, withdrawals and other transactions associated with their wallet.…

New York City Economic Corp Launches Blockchain Education Center

New York City may begin testing blockchain technology for various use cases later this year. The New York City Economic Development Corporation’s (EDC) new Blockchain Center opened Thursday, and intends to begin testing the tech’s use cases next fall, Bloomberg reported Thursday. The center is part of a partnership with the venture capital fund FuturePerfect Ventures and the Global Blockchain Business Council trade organization. It is unclear at this time which areas these use cases may cover. The EDC is a non-profit corporation which aims to support economic growth within the city. It…

Overstock’s tZERO Begins Distributing Its Security Token to Investors

Security token trading platform tZERO, a portfolio company of digital retailer Overstock, has begun the process of giving investors control of tokens bought during a sale the firm completed last August. In a letter sent to investors late Thursday, tZERO CEO Saum Noursalehi outlined the first steps toward taking custody of the tZERO security tokens. TZERO wrapped up the $134 million offering in August, and in October said that it had completed the issuance of the tokens, which were then locked up in a custodial wallet until January 10, as outlined…

Google Policy Change Forces Bitcoin Wallet to Remove Security Features

The team behind Samourai, the privacy-focused bitcoin wallet, has removed a series of key security-related features from a version of its app as a result of “extremely restrictive policies” by Google. Having released version 0.99.04 of its app Tuesday on the digital distribution service run by Google, called Google Play, Samourai explained in a blog post that three features – stealth mode, SIM switch defense, and remote SMS commands – have been removed as a result of Google’s push to “become more of a ‘walled garden’ experience.” A version that…

‘0% Success’: Why Blockchain Apps Just Aren’t Taking Off

Yin Wu is the founder of Dirt Protocol, a protocol for decentralized information curation that aims to organize the world’s data and make it freely accessible. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. In 2018, the promise of a decentralized future fell apart. The most widely used dapps have a few thousand daily users and a study of 43 blockchain applications found a zero percent success rate. With so much funding and talent in the space, why do we have so little success to show? There is a…

NASA Eyes Blockchain Tech to Secure Aircraft Flight Data

NASA – the National Aeronautics and Space Administration – is examining blockchain technology as a means to ensure the privacy and security of aircraft flight data. Ronald Reisman, an aero-computer engineer at NASA Ames Research Center, published a paper on Monday, suggesting that blockchain networks and smart contracts can help mitigate some security issues. Starting Jan. 1, 2020, the U.S. has been mandated by the Federal Aviation Administration (FAA) to use a new surveillance system – Automatic Dependent Surveillance Broadcast (ADS-B) – which will publicly broadcast aircrafts’ identity, position and other information.…

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Ethereum development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday. The round was led by early-stage venture capital firm Crowberry Capital and included participation from private investment firm Hof Holdings, both also based in Iceland. Founded in 2016, Monerium is a fintech startup led by, among others, Jon Helgi Egilsson, former chairman of the Central Bank of Iceland. The firm is developing a solution for transacting fiat currencies over blockchains, what it calls “e-money.” The seed funding will…