Bitcoin News Summary – March 18, 2019

Here’s what happened this week in Bitcoin in 99 seconds.

 

Some disappointing news came out when Samsung revealed that the hardware wallet on their newly-released S10 phone will only support Ethereum, ERC20 tokens, and four dApps. It appears that Samsung will upgrade the wallet to also support Bitcoin and further altcoins in the future.

Chinese ASIC producer, Canaan Creative, has raised several hundred million Dollars in funding. The firm’s valuation is now placed at over $1 billion. Although details are scarce, it is assumed the majority of the investment will be put towards the production of new ASIC miners.

Calgary police are seeking to identify 4 suspects who stole over $200,000 Canadian Dollars’ worth of BTC from Bitcoin ATMs. The suspects used double spend attacks to defraud BTMs across 7 Canadian cities.

Former Mt. Gox CEO, Mark Karpeles was handed a two and a half year suspended sentence by a Japanese court. Karpeles was convicted of tampering with financial records but exonerated of embezzlement charges. Karpeles will remain outside prison unless he violates the terms of his probation.

And finally, popular stablecoin Tether has updated its  Terms of Service, once again raising questions over its dollar peg. Social media users noticed that they had removed the previous claims that Tether was fully backed by US Dollars. Instead, the site currently says reserves may include other assets and receivables from loans made by Tether to third parties.

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

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I thought the bitcoin solved the double spend problem and that’s what made it so revolutionary. How could someone have done a double spend attack?