KW 22: Bitcoin and Ethereum – SpaceX brings blockchain nodes into space, Ethereum breaks several records, Cyber criminals use API keys to steal millions in cryptocurrency

NEWS

Bitcoin and Ethereum – SpaceX brings blockchain nodes into space: SpaceX decided to collaborate with SpaceChain, a company that focuses on building an open and neutral infrastructure for the new space economy. Now, Elon Musk confirmed that his SpaceX will bring the first-ever Ethereum (ETH) node to the International Space Station (ISS). The giant space company announced that it will bring SpaceChain’s ETH node to outer space in the first week of June. “The nodes will be installed on a YAM-2 satellite carried by a SpaceX Falcon 9 rocket under the rideshare program. The mission will be operated by Loft Orbital,” said SpaceChain.
vnexplorer.net

Ethereum breaks several records: At the beginning of May, Ether, the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,051.99 by lunchtime in Asia. It is up more than 300% for the year so far, easily outpacing a 95% rise in the more popular bitcoin. In part, the big rally is a catch-up to late 2020 gains in bitcoin, said James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager.
cnbc.com

Cyber criminals use API keys to steal millions in cryptocurrency: API keys are being abused by cybercriminals to steal millions in cryptocurrency from unsuspecting traders according to new research from CyberNews. As Bitcoin and other cryptocurrencies have become increasingly popular over the past few years, companies have begun to offer apps and other services to make trading easier. In order to uses these services though, traders need to grant third-party programs access to their cryptocurrency exchange accounts via API keys that allow these programs to perform actions on their behalf such as opening and executing automatic trade orders.
techradar.com

Massive security gap at Klarna: Popular German payment service provider Klarna has caused a stir with a massive security gap. Suddenly, some customers had access to third-party user accounts. Payments and personal data, such as the respective address and telephone number, were visible. Klarna quickly took a stand and announced that only the app was affected by the problem. In addition, the payment service provider reacted quickly to prevent another occurrence of this species. Nevertheless, around 9,000 customers were affected by the error. A bug was played via a faulty software update, which resulted in account data being accidentally mixed up with other data. Klarna has informed the responsible authorities about the incident.
chip.de

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Salaries in Bitcoin: First Australian companies pay in cryptocurrency finanzen.net
Chinese trading apps: „Futu“ and „Tiger Brokers“ have applied for licenses for trading in cryptocurrencies t3n.de
Bitcoin fraud campaigns: Criminals send tens of thousands of fraudulent emails on behalf of Elon Musk it-daily.net
Free trading: Challengerbank Vivid expands crypto offering to 50 currencies t3n.de
Ethereum on the advance: Financial experts speak of Bitcoin competition computerbild.de

NUMBER OF THE WEEK

Data for the month of May shows that on-chain transaction volume and mining revenue figures for Ethereum hit all-time highs. The monthly mining revenue figure hit $2.35 billion, an increase in total revenue by 42.4% compared to April. The adjusted on-chain volume figure surged to a high of $666 billion, representing a 92.7% increase from April.
theblockcrypto.com

BACKGROUND

Bitcoin mining paradise Argentina – Cheap electricity and subsidies: Bitcoin miners in Argentina are taking advantage of the country’s shrinking economy and its debased currency to harvest oversized returns, powered by cheap, government-subsidized energy, Bloomberg reported. While numerous countries have experienced booms in crypto mining this year, ultra-low utility rates and the resurgence of capital controls are helping supercharge profits for miners in the South American nation. For many experts, it’s yet another example of Argentines’ perennial ability to bend the nation’s heterodox policies to their advantage.
bloomberg.com

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What influences the value of Bitcoin and others: A recent report analyzes the relationship between a selection of 25 leading cryptocurrencies such as Bitcoin, Ethereum and XRP, and their underlying value drivers. It conclusively shows that the value drivers of the many different cryptocurrencies differ based on their underlying structure and use of a blockchain. Until now, the majority of relevant research papers focussed on a limited selection of crypto- currencies. This report, however, analyzes a wide range of cryptocurrencies and their potential value drivers. It is hypothesized that the price of each category of cryptocurrencies is driven by a different set of attributes. Data was sourced from Santiment, Quandl.com and Etherscan.io and grouped into the following clusters:
marketscreener.com

QUOTE

„The next decade will see more advances in financial engineering, in the design of financial products, and in the marketplaces they trade on than there have been on Wall Street in the last hundred years.“
Ethereum co-founder Charles Hoskinson.
btc-echo.de

BLOCKBUG

Birmingham police expect pot farm, find Bitcoin mining farm: Cops in the West Midlands of England thought they were about to bust a cannabis-growing operation. It had the telltale signs: mysterious visitors at different times of the day, visible wiring and ventilation ducts, and above all a significant heat signature, picked up by a police drone. But when they raided the unit in a Sandwell industrial estate, the police found not a pot farm, but a Bitcoin mining operation. That’s not illegal in the U.K., unlike unlicensed cannabis cultivation—and unlike stealing power from the mains supply, which the Bitcoin miners in this case were doing.
fortune.com

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