πŸš€ PSA: Use Trezor and Wasabi Together? You might Want to Hold out on Updating your Firmware ⌚

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    πŸš€ PSA: Use Trezor and Wasabi Together? You might Want to Hold out on Updating your Firmware ⌚

    On Further Thought, always Deliberate on Updating your Wallet Firmware. Better yet, Check against Official Communications Channel when updating wallet

    What's up, Geckos?

    Word on the streets (well, more like from a Chinese blockchain firm) is that the 3 high fee ETH transactions are the result of hackers trying to extort a compromised exchange.

    Confused? it basically works like this...

    Hackers probably hacked an exchange, however, the exchange is secure enough in that no private keys were stolen - but hackers can send funds to a set of whitelisted addresses. Thinking on their feet, they instead turn to blackmail; "Pay us, or we bleed you dry by giving miners a payday-after-payday".


    Possible? What do you think?


    Today we'll betalking about EOS.io's latest conundrum, Wasabi Wallet's PSA to Trezor wallet owners, and the first proper bank to use actual ERC-20 tokens to make cross-border payments.


    Enjoy the next 3 minutes and 13 seconds!

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    "EOS Facing Potential Crisis After Developer Exodus" - Crypto VC


    According to a report by crypto-focused venture capital firm Outlier Ventures, EOS.io (EOS) is facing a potential developer crisis.


    Developers working on the EOS platform fell more than 85% compared to a year ago.

    Outlier Ventures cited the drop to "falling interest following the 2019 launch of its main network and core developers moving away from the protocol."


    CryptoGlobe

    "Don't update your Wasabi Wallet if you use a Trezor" - Wasabi


    A bug in the latest version of Trezor wallet may temporarily lock users out of their Bitcoin if used in conjunction with Wasabi wallet.


    The issue began when Trezor released a firmware update to fix an unrelated vulnerability.


    This update has in turn caused more issues for services such as Wasabi and BTCPay when interacting with Trezor wallet.


    Wasabi was warned users not to update their Trezor wallets until a new update has been rolled out to Wasabi.


    (Editor: Ouch, if i own a Trezor wallet, I'd patiently wait until this whole thing blows over before I dare to plug the wallet to a usb port)


    Decrypt

    Liechtenstein-based bank will use USDC for cross-border payment


    Bank Frick, one of Europe's blockchain banks, is ditching SWIFT for Circle's USDC stablecoin.

    "Compared to the classic SWIFT procedure, the processing time is significantly reduced", says Stefan Rauti, head of blockchain banking at Bank Frick.


    According to Circle co-founder and CEO, Jemery Allaire, Bank Frick's addition of USDC is part of a growing trend among financial institutions.


    (Editor: They not be the first bank to use "blockchain" technology for cross-border payment, but this is the first instance of a bank using actual fungible crypto tokens to the same effect. Bullish!)


    Decrypt

    BitLicense


    A Special License to operate a crypto-related business activity within the New York State Jurisdiction.

    According to New York State's Department of Financial Services, anyone engaging in any of the following activities will be required to obtain a BitLicense:

    • Virtual currency transmission.

    • Storing, holding, or maintaining custody or control of virtual currency on behalf of others.

    • Buying and selling virtual currency as a customer business.

    • Performing exchange services as a customer business.

    • Controlling, administering, or issuing a virtual currency.


    As of February 2020, consumers are not required to have a BitLicense to transact in virtual currencies. Merchants also do not require BitLicense to accept virtual currencies as payment.


    Learn more terms with the CoinGecko Glossary

    Read more on CoinGecko

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