Coinbase Reveals Password Glitch Affecting 3,500 Customers

Crypto exchange Coinbase disclosed a potential vulnerability Friday, announcing that a tiny fraction of its customers’ passwords were stored in plain text on an internal server log. However, the information was not improperly accessed by outside parties, the exchange said. In a post-mortem shared with CoinDesk, Coinbase outlined “a password storage issue,” impacting less than 3,500 customers (out of more than 30 million worldwide) that briefly resulted in personal information, including the passwords, being stored in clear text on internal logging systems. “Under a very specific and rare error condition,…

Coinbase Backs $4.3 Million Raise for New Crypto Derivatives Exchange

A new cryptocurrency derivatives exchange that hasn’t yet launched has already won backing from major investors including Coinbase. Called Blade, the exchange platform is planning to go live in a few weeks with a focus on perpetual swaps, TechCrunch reported Monday. The firm was founded by Jeff Byun and Henry Lee, who had previously launched a delivery startup that crypto-friendly payments firm Square acquired in part in 2017. The two have now brought some of the same investors in to back their new Blade venture. Aside from Coinbase, investors in the $4.3…

Coinbase UK Dropping Support for Cryptocurrency Zcash

The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holdings, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to…

Coinbase Sets Out How It Foiled a ‘Sophisticated’ Hacking Attack

Cryptocurrency exchange Coinbase has described how it was targeted by, and foiled, “a sophisticated, highly targeted, thought out attack” aimed to access its systems and presumably to make off with some of the billions of dollars’-worth of cryptocurrency it holds. In an Aug. 8 blog post that sets out in technical detail how the plot unfolded and how the exchange countered the attempted theft, Coinbase said the hackers used a combination of means to try and hoodwink staff and access vital systems – methods that included spear phishing, social engineering…

Coinbase Must Face Negligence Suit Over Bitcoin Cash Listing, Judge Rules

Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional…

US Firm Launches Hedge Fund With Holdings in Coinbase, Bakkt

The investment firm US Capital Global announced it will add a tokenized venture fund with holdings in Coinbase, Bakkt, Nomics, and Tagomi in its portfolio. Accredited investors will be able to place a $10 million equity stakes in the NYCQ Fund, designed by the venture capital firm CityBlock Capital, to increase their crypto leverage, according to a statement. The fund does not hold investments in cryptocurrencies, but stakes equity investments in the crypto startups. It is overseen and developed by former SoftBank Capital, Goldman Sachs, Wells Fargo, and Google employees.…

Coinbase Custody to List YouNow’s Props Token

Coinbase Custody announced the addition of the recently Reg A+ certified Props token to its custodial listings. The institutionally-weighted, and independently-funded custodial wing of Coinbase will provide cold storage as well as a wallet for holders of Props. The tokens were designed by YouNow developers as a way to reward users of the platform and its content creators. Furthermore, the Coinbase wallet will act as the default wallet offered by YouNow to users. “This wallet has a tighter integration with the YouNow app, which makes for a smooth UX when using…

Track your Coinbase Card purchases with Spending Summaries

Smart features to help you spend wisely Today, we’re introducing Spending Summaries — a smart way for you to see exactly what you spend your crypto on when you pay using Coinbase Card. Spending Summaries break down your crypto purchases into ten different categories such as Transport, Cash Withdrawals, Restaurants, and more, helping you track your spending habits over time. Since launching Coinbase Card in May, we’ve helped customers in the UK, Ireland, France, Spain, Italy, Germany and the Netherlands, spend over $2,500,000. Every day, thousands of crypto purchases are…

ChainLink (LINK) Surges 75.6%, Has Google And Coinbase Support

ChainLink (Link) Surging, adds 75.6 percent Google entry and listing at Coinbase significant for Link Oracles are the future, and Google is strategically positioning itself to be a valuable source of verifiable data. By partnering with ChainLink, Link which also got a “Coinbase Effect” boost, is bullish in the long term. At spot rates, the token is up 75.6 percent from last week’s close. ChainLink Price Analysis Fundamental In the top 20, LINK is conspicuous. Not by what the token represents but because of its price performance in the last…

Bitcoin Trade Volume on Coinbase Hit a 14-Month High in May

Bitcoin trading volume on the largest US-based cryptocurrency exchange, Coinbase, hit the highest amount seen in 14 months in May. During the month of May, Coinbase facilitated the trade of 738,959.42 BTC — worth approximately $5.9 billion at current market prices — according to data from Bitcoinity. This development marks the exchange’s highest level of bitcoin trade volume since March of 2018. Additionally, it also represents the sixth-most voluminous month for bitcoin trading on the exchange to date. Perhaps not surprisingly, the rise in volume was accompanied by a 60 percent…