Free Bitcoin 2020

Image
Free Bitcoin 2020
Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money.


What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Defi Platform Bzx Recovers Stolen $8.1 Million From Hacker

Defi Platform Bzx Recovers Stolen $8.1 Million From Hacker

Decentalized finance (defi) protocol Bzx has recovered the $8.1 million it lost to a hacker a few days ago. The company claims it was able to track down the cyber thief, whom it refused to name for legal reasons, through their on-chain activity. Cornered, the attacker returned the loot.

“All funds have been recovered from the attacker. We are restoring the system,” said Kyle Kistner, co-founder of Bzx, in a statement released on September 15. “The funds are now in the team wallet and being used to restore the lending pools.”

On September 13, a faulty code in Bzx smart contracts allowed the hacker to mint 219,200 LINK tokens (valued at $2.6 million); 4,503 ETH ($1.65 million); 1,756,351 USDT ($1.76 million); 1,412,048 USDC ($1.4 million) and 667,989 DAI (worth $681,000) – all totaling $8.1 million.

Marc Thalen, the Bitcoin.com lead engineer who discovered the bug, has finally been paid a bounty of $45,000. Initially, Bzx did not want to pay out that much amount of money to Thalen, offering him just $12,500 as bounty because “Marc had only reported the issue when the attack had mostly concluded.”

In a thread on Twitter, Thalen complained: “Bzx just mentioned on a call it doesn’t feel like it’s worth more than 12.5k as their ‘independent’ panel decided to and they feel like sticking to it. They are not willing to disclose [the] identities of the panel. [I’m] really disappointed in Bzx.”

However, that figure severely undermined the protocol’s own bug bounty policy for high-level discoveries, which can be paid up to $350,000. Bzx later reconsidered its position following a massive social media backlash and paid Thalen a “reasonable” $45,000.

Peckshield, one of the two audit firms that failed to identify the defective code that led to the theft of the $8.1 million crypto, said in a letter to the Bzx community that its initial audit identified 16 security issues that were fixed – but that is never enough.

“Bzx and Peckshield are developing a plan to re-examine the protocol and set up real-time monitoring on key blockchain data indicators,” it wrote. The measure is expected to enhance security on the platform.

What do you think about Bzx recovering the $8.1 million stolen crypto? Let us know in the comments section below.

The post Defi Platform Bzx Recovers Stolen $8.1 Million From Hacker appeared first on Bitcoin News.



from Bitcoin News

Comments

Hot News

Free Bitcoin 2020

Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File