Common scams in cryptocurrency

In an excellent primer below, the author describes a few common scams in the cryptocurrency market. As the stakes get higher and con artists get more sophisticated, so too will their tactics.

Most common cryptocurrency scams & how to avoid them
(Valore Initiative)

"The growth of the blockchain and cryptocurrency space has been undeniably exciting. Tech innovation and the fast paced new trading paradigm continues to attract big crowds, but this also includes a number of bad actors."

Technical Update

The blockchain as a timechain
(Kiara Robles)

"Because of network latency—transactions can never be processed by everyone in the network at exactly the same time. Decentralized ledgers require that transactions be grouped together in 'blocks'. So the timestamp can be applied to transactions that occurred within the same general time frame rather than to each transaction individually."

Telegram's new Passport service is vulnerable to brute force attacks
(Virgil Security, by Rebecca Yarbrough)

"The security of the data you upload to Telegram’s Cloud overwhelmingly relies on the strength of your password since brute force attacks are easy with the hashing algorithm chosen. And the absence of digital signature allows your data to be modified without you or the recipient being able to tell."

Accelerating Edwards Curve arithmetic with parallel formulas
(Henry de Valence)

"More importantly, when combined with Ristretto, the result is the fastest prime-order group ever, allowing faster implementations of complex zero-knowledge protocols."

Thread on how SMS intercept works in practice

Reddit got hacked via SMS 2FA intercept

We had a security incident. Here's what you need to know. from r/announcements

News & Commentary

Silicon Valley's invasion of banking just got key U.S. go-ahead
(Bloomberg, by Jesse Hamilton and Selina Wang)

"The Office of the Comptroller of the Currency invited fintech companies on Tuesday to apply for special national charters, hours after the Treasury Department released a report advocating that step and others to spur innovation. The OCC’s move -- potentially letting online lenders, payments firms and certain cryptocurrency ventures operate without relying on a bank -- has long been opposed by the financial industry and state regulators."

Introducing: MacCoin

Founder of Ethereum thinks crypto ETF is being over-emphasized

Ethereum: A retrospective of the first 3 years
(BTC Manager, by Eric Czuleger)

"However, the rally was not to last. It was met with an equally dramatic drop, falling to where the price for ETH currently sits around $460. The crypto market has begun to gain value after the recent drop with Ethereum maintaining its secondary position as the most influential cryptocurrency in the space."

(Token Daily, by Julien Genestoux)

"Whether it’s a store of value, a medium of exchange, unit of account, or something entirely different, Bitcoin is valuable because it is now unstoppable."


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