Here’s what happened this week in Bitcoin in 99 seconds.
A critical bug was exposed for the Coinomi desktop wallet. The bug states that if you’ve imported a seed phrase into the wallet, that seed was actually sent to Google for spelling check. A seed phrase should NEVER leave the wallet and this issue may put Coinomi desktop users at risk.
Bitfinex announced that the US government has returned 27.6 bitcoins which were part of the nearly 120,000 bitcoins stolen from the exchange in August of 2016. The action heralds a new degree of international cooperation between governments and exchanges. The value of the returned coins will be divided among certain Bitfinex clients affected by the hack.
Following reports last week that Coinbase acquired a company run by the former Hacking Team CEO, who sold spyware to governments, a protest campaign is growing across social media. The hashtag “Delete Coinbase” campaign urges users to leave the exchange due to its anti-privacy policies.
It was reported that Russia’s State Duma is expected to pass business-friendly crypto regulations this March. The new laws would also law the groundwork for a state-controlled crypto backed by oil reserves. Such a coin may assist Russia to trade energy internationally despite economic sanctions.
And finally, Thailand’s market regulator, recently approved the following 4 cryptos for investment, trading, and ICO purposes: Bitcoin, Ethereum, Ripple, and Stellar. However, Litecoin, Bitcoin Cash, and Ethereum Classic were also banned for such purposes.
That’s what happened this week in Bitcoin. See you next week.
Coinomi’s official statement: https://medium.com/coinomi/official-statement-on-spell-check-findings-547ca348676b
Err, Uncle Sam returned 27.6 out of 120,000? Pardon me if I’m not exactly knocked out by his generosity. And just how did they determine that these munificently returned 27.6 BTC were part of the hack? Of course, the USG is not answering any questions…
If Duma is doing what we want as regard cryptocurrency then there is a need to use it.
I think bitcoin is the answer to many economics problems globally.