{"id":11033,"date":"2018-11-26T22:36:14","date_gmt":"2018-11-26T22:36:14","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=11033"},"modified":"2018-11-27T07:05:35","modified_gmt":"2018-11-27T07:05:35","slug":"news-the-crypto-price-crash-tether-nodejs-npm-coin-stealing-exploit-north-korea-blockchain-conference","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/11\/26\/news-the-crypto-price-crash-tether-nodejs-npm-coin-stealing-exploit-north-korea-blockchain-conference\/","title":{"rendered":"News: The crypto price crashes further, Tether, nodejs\/NPM coin-stealing exploit, North Korea blockchain conference"},"content":{"rendered":"<ul>\n<li>Bullish on buttcoins \u2014 this news blog runs on your helpful subscriptions. Just <a href=\"https:\/\/www.patreon.com\/davidgerard\/overview\">$5\/month<\/a> to delight your soul, and help your transactions go through faster!<\/li>\n<li>And, don&#8217;t forget\u00a0\u2014 <a href=\"#byemail\">sign up for new posts via email!<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Dan McCrum at FT Alphaville thinks the crash is not investors giving up and selling out \u2014 but just <a href=\"https:\/\/ftalphaville.ft.com\/2018\/11\/26\/1543235911000\/Capitulation-is-the-wrong-word-for-the-bitcoin-market\/\">a lack of interested buyers.<\/a><\/p>\n<p>&#8220;What follows is a morality tale for the modern age. It stars me, an idiot, and may produce strong feelings of schadenfreude in you, hopefully not an idiot. Ready? Let us begin.&#8221; <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2018\/nov\/25\/only-a-fool-would-have-bought-into-bitcoin-late-last-year-so-guess-what-i-did\">Only a fool would have bought into bitcoin late last year. So guess what I did?<\/a><\/p>\n<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/11\/26\/news-the-crypto-price-crash-tether-nodejs-npm-coin-stealing-exploit-north-korea-blockchain-conference\/coinbase-btc-usd-2018-11-24\/\" rel=\"attachment wp-att-11038\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11038\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2018\/11\/coinbase-btc-usd-2018-11-24.jpg\" alt=\"\" width=\"666\" height=\"285\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2018\/11\/coinbase-btc-usd-2018-11-24.jpg 666w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2018\/11\/coinbase-btc-usd-2018-11-24-300x128.jpg 300w\" sizes=\"auto, (max-width: 666px) 100vw, 666px\" \/><\/a><\/p>\n<p style=\"text-align: center;\">24 November 2018, around 2110 UTC \u2014 someone gets squeezed.<\/p>\n<p>&nbsp;<\/p>\n<p>Another <a href=\"https:\/\/twitter.com\/Bitfinexed\/status\/1066797034961813505\">50 million Tethers<\/a> went out yesterday. This got the Bitcoin price from $3800 to &#8230; just over $4000. For a few hours.<\/p>\n<p>So what do you do with <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/10\/15\/is-bitcoin-going-to-the-moon-no-its-tether-going-down-the-plughole\/\">98-cent dollars?<\/a> This guy <a href=\"https:\/\/www.reddit.com\/r\/bitfinex\/comments\/9zcuue\/so_i_have_been_buying_discounted_tethers_how_do_i\/\">bought 5 million Tethers.<\/a> Then he sent them over to Bitfinex to withdraw actual dollars &#8230; then he discovered the <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/11\/11\/news-more-coal-powered-bitcoin-mining-colorado-vs-icos-bitfinex-withdrawal-issues-the-decline-of-blockchain\/\">3% withdrawal fee.<\/a> Bitfinex has also increased the minimum wire fee <a href=\"https:\/\/www.theblockcrypto.com\/2018\/11\/23\/bitfinex-quietly-increases-minimum-wire-fee\/\">from $20 to $60.<\/a> May I refer Sir to <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/01\/04\/why-you-cant-cash-out-pt-3-bitcoin-is-not-a-ponzi-scheme-it-just-works-like-one\/\">Why You Can&#8217;t Cash Out pt 3.<\/a><\/p>\n<p>Let&#8217;s just be clear that the US criminal probe into crypto market manipulation <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-11-20\/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tether\">is totally focusing on Tether.<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>https:\/\/twitter.com\/Bitfinexed\/status\/1064596329282904065<\/p>\n<p>&nbsp;<\/p>\n<p>If you run nodejs, you use packages from npm. The very popular package <a href=\"https:\/\/github.com\/dominictarr\/event-stream\">event-stream<\/a> had some exploit code snuck into it, <a href=\"https:\/\/github.com\/dominictarr\/event-stream\/issues\/116#issuecomment-441759047\">targeting<\/a> Bitpay&#8217;s Dash Copay wallets. &#8220;It&#8217;s basically crawling your dependencies for a peer dependency on the package copay-dash, and it&#8217;s an attack basically crafted towards this package. If your overall application has both this malicious package and &#8216;copay-dash&#8217;, then it&#8217;s going to try stealing the bitcoins stored in it.&#8221; Thomas Claburn has a <a href=\"https:\/\/www.theregister.co.uk\/2018\/11\/26\/npm_repo_bitcoin_stealer\/\">full writeup<\/a> at the Register.<\/p>\n<p>KodakOne\/KodakCoin seems to be <a href=\"https:\/\/thenextweb.com\/hardfork\/2018\/11\/20\/kodakone-cryptocurrency-blockchain-suit\/\">having trouble paying its developers.<\/a><\/p>\n<p>US plans to sabotage North Korea by <a href=\"https:\/\/www.independent.co.uk\/life-style\/gadgets-and-tech\/news\/north-korea-cryptocurrency-blockchain-conference-pyongyang-a8643391.html\">getting them interested in blockchain.<\/a> This is the <a href=\"https:\/\/www.kfausa.org\/2019-pyongyang-blockchain-cryptocurrency-conference\/\">Pyongyang Blockchain and Cryptocurrency Conference<\/a> that was first talked about in August this year.<\/p>\n<p>The Financial Conduct Authority in the UK has <a href=\"https:\/\/www.telegraph.co.uk\/investing\/news\/city-watchdog-steps-inquiries-crypto-firms\/\">looked into<\/a> 50 cryptocurrency-related firms this year, including seven whistleblower reports. More fraud is expected to emerge with the price crash.<\/p>\n<p>I&#8217;m sure <a href=\"https:\/\/www.newsbtc.com\/2018\/11\/17\/crimea-to-set-up-blockchain-university-to-help-countries-evade-u-s-sanctions\/\">this will work out well:<\/a> Crimea to Set Up Blockchain University to Help Countries Evade US Sanctions.&#8221; <a href=\"https:\/\/tass.ru\/ekonomika\/5799783\">Original<\/a> in Russian \u2014 &#8220;allows creating investment platforms through which foreign investors can work in sanctioned countries anonymously for everyone.&#8221;<\/p>\n<p>Bitcoin Cash wars \u2014 Calvin Ayre on <a href=\"https:\/\/coingeek.com\/original-bitcoin-will-live-bitcoin-sv-bsv\/\">why Bitcoin SV won <em>morally<\/em> against Bitcoin ABC,<\/a> even if ABC won in terms of, you know, tawdry real-life facts on the ground.<\/p>\n<p>Deloitte Blockchain Chief: <a href=\"https:\/\/www.coindesk.com\/deloitte-blockchain-chief-bad-crypto-headlines-are-making-clients-nervous\">&#8220;look, could you please stop spooking my prospective suckers with your &#8216;bad news&#8217;.&#8221;<\/a><\/p>\n<p>Overstock.com is selling its retail side, and Patrick Byrne is <a href=\"https:\/\/www.wsj.com\/articles\/overstocks-founder-bets-on-blockchain-not-bedsheets-1542969001\">going full crypto.<\/a> The stock price was <a href=\"https:\/\/www.cnbc.com\/2018\/11\/23\/overstock-to-sell-retail-business-and-reportedly-go-all-in-on-crypto-by-february.html\">up 26%<\/a> on the news. tZero <i>still<\/i> isn&#8217;t actually up and running yet, by the way.<\/p>\n<p>Remember those murders-for-hire that Ross Ulbricht totally didn&#8217;t commission? They <a href=\"https:\/\/arstechnica.com\/tech-policy\/2018\/11\/silk-roads-alleged-hitman-redandwhite-arrested-in-vancouver\/\">just caught one of the guys<\/a> he totally didn&#8217;t commission to murder someone.<\/p>\n<p>David Birch on <a href=\"http:\/\/blog.dgwbirch.com\/?p=406\">why blockchain won&#8217;t fix your data or business relationships<\/a> \u2014 &#8220;much of the wishful thinking projected onto the blockchain is really nothing about consensus or immutability but, as in so many other cases, really all about interoperability.&#8221;<\/p>\n<p>Wired: <a href=\"https:\/\/www.wired.co.uk\/article\/regulate-blockchain\">This is how politicians should regulate the blockchain<\/a> \u2014 with quotes from me on why legislative carve-outs for particular data formats are a dumb and bad idea, and particularly GDPR carve-outs.<\/p>\n<p>Hey, <a href=\"https:\/\/www.youtube.com\/watch?v=k3GbBRIcttw\">I think I found out why Bitcoin crashed!<\/a> WARNING: this is goatse for the ears.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"jetpack-video-wrapper\"><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"735\" height=\"414\" src=\"https:\/\/www.youtube.com\/embed\/k3GbBRIcttw?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-GB&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/div>\n<p>&nbsp;<\/p>\n<p>Here&#8217;s a <a href=\"https:\/\/steemit.com\/bitcoin\/@crypto101podcast\/bitcoin-criticism-with-david-gerard\">text summary<\/a> of my podcast with <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/11\/12\/crypto-101-podcast-bitcoin-criticism-attack-of-the-50-foot-blockchain-w-david-gerard\/\">Crypto 101.<\/a><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I have a feeling this should be required reading for every team&#8230;. <a href=\"https:\/\/twitter.com\/hut34project?ref_src=twsrc%5Etfw\">@hut34project<\/a> <a href=\"https:\/\/twitter.com\/davidgerard?ref_src=twsrc%5Etfw\">@davidgerard<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/coffeeandagoodread?src=hash&amp;ref_src=twsrc%5Etfw\">#coffeeandagoodread<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/sydeth?src=hash&amp;ref_src=twsrc%5Etfw\">#sydeth<\/a> <a href=\"https:\/\/t.co\/aeRgmhcoMl\">pic.twitter.com\/aeRgmhcoMl<\/a><\/p>\n<p>&mdash; Peter on the block (@peterontheblock) <a href=\"https:\/\/twitter.com\/peterontheblock\/status\/1065749941371326464?ref_src=twsrc%5Etfw\">November 22, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">bitcoin enthusiast spends an hour trying to pay for lunch while his girlfriend mocks him. <a href=\"https:\/\/t.co\/IMQulODKhQ\">pic.twitter.com\/IMQulODKhQ<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/1066090702944305152?ref_src=twsrc%5Etfw\">November 23, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">just a regular reminder that the actual nakamoto consensus mechanism has always been a few guys on irc <a href=\"https:\/\/t.co\/xIEl0Ibouo\">pic.twitter.com\/xIEl0Ibouo<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/1065061108699017216?ref_src=twsrc%5Etfw\">November 21, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">If you have any institutional investors over for Thanksgiving don&#39;t forget to mention bitcoin to them<\/p>\n<p>&mdash; Cy Watson (@cyluswatson) <a href=\"https:\/\/twitter.com\/cyluswatson\/status\/1065002304590344192?ref_src=twsrc%5Etfw\">November 20, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>bullish on USD. it is clear that USD is increasingly popular with past hodlers of the deprecated bit-Coin. USD has gone up hugely in just the past day against the b.t.C!! in conclusion you should be getting into currency<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[42,38,67,747,1031,1032,166,371,372,6,1029,858,1030,106,107,327,137,39,457],"class_list":["post-11033","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-bitcoin-cash","tag-bitfinex","tag-bitpay","tag-calvin-ayre","tag-copay","tag-crimea","tag-fca","tag-kodakcoin","tag-kodakone","tag-links","tag-nodejs","tag-north-korea","tag-npm","tag-overstock","tag-patrick-byrne","tag-ross-ulbricht","tag-russia","tag-tether","tag-united-kingdom"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/11033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=11033"}],"version-history":[{"count":24,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/11033\/revisions"}],"predecessor-version":[{"id":11090,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/11033\/revisions\/11090"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=11033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=11033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=11033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}