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Ledger Client Details Leaked | Bitcoin News Summary Aug 3, 2020

Some alarming news for Ledger hardware wallet users was announced. The company’s internal records were breached, revealing customer details which include up to a million email addresses. A further 9,500 customers had their full names, numbers, and addresses leaked. While funds secured by Ledger devices are still safe, any users who got an email from the company saying they were affected should be on guard against phishing or even real-world attacks.

The perpetrators of last week’s high profile Twitter hack, in which accounts of various celebrities and leaders were used in a crypto-stealing scam, have been identified. It is alleged that a teenager from Tampa, Florida in the US attempted to launder the stolen coins through Coinbase and BitPay, after failing to properly mix them, and was promptly identified.

After pulling off one of the biggest cryptocurrency scams ever, the core team behind PlusToken has finally been arrested by the police in China. 27 individuals were caught and detained as part of the fraudulent scheme that reportedly attracted over $5.8 billion.

Twitch, the streaming platform with an estimated 15 million daily users, is running a 10% discount special for subscribers who pay with Bitcoin. Twitch is mostly used by gamers to stream their play sessions.

Before we conclude, this week’s “Bitcoin quick question” is what happens to your Bitcoins if you die?

The answer is – it depends. Did you back up your Bitcoins, and ensure someone you trust could gain access to your backups if something bad happens?

Bitcoins, or any cryptocurrency for that matter, are mathematical proofs. These mathematical proofs can be accessed using your mobile or desktop wallet apps, your secure hardware wallet, or can even be written on a piece of paper. As long as someone on your behalf has access to the mathematical proofs – your bitcoins will be safe.

And if they don’t? Your relatives will have to try and locate your backups, or even guess your passwords. For that reason, it is important to be prepared for any scenario. You could leave instructions in your will, leave a trail of clues known only to your relatives, or even create a deadman’s switch. If you want to learn more about Bitcoin inheritance planning, visit the link in the description below.

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That’s what’s happened this week in Bitcoin. See you next week.

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