Wish you bought Litecoin and other top alts at mid-2017 prices? Here’s your second chance

Some cryptocurrencies have retraced from their highs, back to prices seen several years ago.

Some cryptocurrencies have retraced from their highs, back to prices seen several years ago.

Coinbase CEO Brian Armstrong Says 20s Will See an Anoncoin Go Mainstream

A privacy-focused cryptocurrency will become mainstream in the 20s, according to CEO of Coinbase

A privacy-focused cryptocurrency will become mainstream in the 20s, according to CEO of Coinbase

New Malware Campaign Spreads Trojans Through Clone Crypto Trading Website

A new malware campaign spreads crypto trojans through a copycat website, launching attacks via mining, information stealing and clipboard jacking of crypto addresses

A new malware campaign spreads crypto trojans through a copycat website, launching attacks via mining, information stealing and clipboard jacking of crypto addresses

Markets Take Renewed Downturn, Cryptos Hit By Strong Losses Across The Board

Friday, Dec. 28 — markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red and many high market cap alts seeing losses of between 5 and 12 percent, as data from Coin360 shows. Market visualization by Coin360 Fourth-largest cryptocurrency Bitcoin Cash (BCH) has led the downturn, seeing a…

Friday, Dec. 28 — markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red and many high market cap alts seeing losses of between 5 and 12 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Fourth-largest cryptocurrency Bitcoin Cash (BCH) has led the downturn, seeing a steep 12.15 percent loss on the day to trade at $126. Today marks a low-point on the alt’s 7-day chart, at the start of which it was trading over $220.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph’s Bitcoin Cash Price Index

Bitcoin (BTC) has seen a more moderate loss of around 4 percent on the day, and is trading at $3,605 to press time. Having hit intra-week levels as high as around $4,230 on Dec. 23, the top coin’s renewed downturn have all but reversed recent gains and Bitcoin is back trading close to its value mid-December.

Bitcoin’s losses remain a mild 2.4 percent on the week and 3.6 percent on the month.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Second-largest crypto by market cap Ripple (XRP) is down over 5 percent on the day, according to Cointelegraph’s Ripple Price Index. Notwithstanding an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range bound between $0.35 – $0.39. The alt has today come close to the price point it held on Dec. 21 — weekly losses are at a mild 1 percent; on the month, the Ripple is down over 4 percent.

Ripple 7-day price chart

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

Ethereum (ETH), ranked third by market cap, is down over 7 percent and trading at $115 at press time. Following intra-week highs of over $150, the alt has virtually come full circle on the week, reversing recent growth.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the top ten coins on CoinMarketCap, Bitcoin SV (BSV) has shed close to 11 percent on the day to trade at $83.20. EOS (EOS), Stellar (XLM) and Litecoin (LTC) have all shed 6-7 percent on the day.

Among the top twenty, Ethereum Classic (ETC) and Nem (XEM) are down the most, shedding 8.3 and 9.2 percent at $4.82 and $0.06 respectively.  Dash (DASH), Cardano (ADA) and Tron (TRX) are all down over 7 percent — the strongest 24-hour performer is IOTA (MIOTA), which is down a milder 3.8 percent on the day at $0.31.

Total market capitalization of all cryptocurrencies is at around $120.4 billion as of press time — down from an intraweek high of over $146.5 billion on Dec. 24.

7-day chart of total market capitalization of all cryptocurrencies

7-day chart of total market capitalization of all cryptocurrencies from CoinMarketCap

Altcoin Bitcoin Private Confirms Additional 2 Million Coins Secretly Premined

The development team behind altcoin Bitcoin Private (BTCP) has confirmed the creation of 2.04 million units of BTCP “that were never intended to exist on the blockchain,” according to an official statement published Dec. 24. On Dec. 23, digital assets analytics website Coin Metrics published a report revealing that during the import of Bitcoin (BTC)…

The development team behind altcoin Bitcoin Private (BTCP) has confirmed the creation of 2.04 million units of BTCP “that were never intended to exist on the blockchain,” according to an official statement published Dec. 24.

On Dec. 23, digital assets analytics website Coin Metrics published a report revealing that during the import of Bitcoin (BTC) chain data, an additional 2.04 million units of altcoin BTCP — about $3.9 million at press time — were secretly minted. Per the project’s white paper, the total supply of BTCP is equal to around 20.4 million coins, while the secretly premined BTCP brought “the initial supply to 22.6 million.”

The BTCP core team says in today’s statement that upon receiving the reports, they “immediately launched an investigation to ascertain whether or not the alleged findings of an additional amount of BTCP coins were true.” After performing an internal audit, the team officially says that Coin Metrics’ findings were “mathematically accurate.” The team added:

“However, at this time, the source, purpose, and recipient of this exploit is currently unknown to the Bitcoin Private Contribution Team.”

The statement further cites the timeline of events regarding the issue, unveiling that ultimately there was a bounty posted for a specific issue, which was subsequently accepted by a developer, who then became a BTCP developer and was “promoted to a contributor on GitHub, allowing him to merge pull requests.”

That developer reportedly then completed the issue, merged their own code, and received their reward. The BTCP team further discovered that one line missing in the code “allow[ed] the fork mine to be exploited due to the nodes not properly verifying the falsified fork blocks.” Once the bounty was collected, the developer left the BTCP project.

After that, the threat actor reportedly exploited the bug, creating over 2 million coins during the publicly announced fork mine. The statement reads:

“As the code was open source, and the fork-mine was announced on Twitter, anyone with sufficient blockchain development knowledge could have exploited it.”

The BTCP team further notes it is not clear whether those coins were transferred to an exchange or used or stored elsewhere. However, the team’s statement concludes:

“this particular exploit could only be taken advantage of during the fork mine, which already occurred earlier this year. Therefore, it is impossible for this particular bug exploit to occur again, nor can it be further exploited.”

The BTCP team also stated in the announcement that they had “no prior knowledge” of the incident before Coin Metrics’ report was released to the public.

At the end of the statement, the BTCP team writes that they have contacted major crypto exchange HitBTC about the situation. HitBTC has not responded to Cointelegraph’s request for comments by press time.

At press time, BTCP is trading at around $1.97, down close to 7 percent over the last 24 hours, according to CoinMarketCap.

In September, Bitcoin Core released an update following the recent detection of a vulnerability in the software. The vulnerability could reportedly have caused a crash of older versions of Bitcoin Core if they attempted processing a block transaction that tries to spend the same amount twice.