US Customs will track cryptocurrency transactions
▪️The request notes that there is no need to develop a full-fledged tracking system - it is necessary to create an additional module for an already working open source system. The department plans to create a centralized accounting system to automate the workflow associated with financial transactions.
▪️Note that the document contains a whole list of potential situations with financial transactions that the department intends to monitor. There are also situations in which the interaction of employees of the Immigration Office with bitcoins is described, for example:
▪️ “A purchase in the amount of 0.0191111 BTC was paid from the wallet, including a miner's commission of $ 0.00043663 BTC. The exchange rate at the date of purchase was $ 13,211.39. The balance of 0.01777286 BTC was transferred back to the wallet. The commission was 0.00036727 BTC ".
▪️ Companies that can develop the appropriate module have until November 9 to fill out an application for participation in the competition.
User lost $ 140,000 in UNI tokens while farming in the UniCats project
The UniCats developers have implemented a defect in the smart contract to control tokens even after their withdrawal. This was announced by Alex Manuskin, a researcher from the ZenGo cryptocurrency wallet team.
To start using the UniCats platform, the user needs permission to spend an unlimited number of tokens. Given that many decentralized finance (DeFi) projects have similar requirements, the user accepted these conditions. After farming a certain amount of MEOW tokens, he pulled UNI out of the pool. It was later revealed that the UniCats developers had incorporated a "workaround" into the smart contract, which allowed them to manage tokens even if they were withdrawn from the platform.
“The user did not even suspect that having received permission to spend an unlimited number of assets, the contract can use them at any time. This is possible even if the user has withdrawn the tokens from the profitable farming scheme, ”said ZenGo researcher Manuskin.
Thanks to a loophole in the smart contract, the creator of UniCats managed to intercept the user's tokens by making two transactions for 26,000 UNI and 10,000 UNI for $ 94,000 and $ 38,000. Then the attackers exchanged the received tokens for 416 WETH. Thus, the scammers received at least $ 50,000 from other victims. The exact amount of damage to users is not easy to determine, given that the withdrawal of cryptoassets was made using separate transactions.
Mike McGlone: "Bitcoin could reach $ 100,000 in five years"
Judging by the document, the logic of the analyst is extremely simple - the bitcoin rate on long-term charts is constantly growing. In 2011, BTC was worth about $ 10, in 2013 it reached $ 1,000, and it took four years to conquer the $ 10,000 mark in 2017. That is, the growth rate on a logarithmic scale is slowing down and it will take eight years, not four, to conquer the next mark. Given that three years have already passed, BTC will reach $ 100,000 by 2025.
Also, Mike McGlone expects BTC to reach $ 14,000 by the end of 2020, which is the highest Bitcoin price in 2019. In favor of his opinion, the analyst cites the increasing adoption of bitcoin. Grayscale's Bitcoin Trust has exceeded 500,000 BTC, which speaks to the popularity of the first cryptocurrency among institutional investors.
“A year ago there were less than half of the current volume. GBTC has become the largest exchange-traded product for bitcoin and in the third quarter of this year, about 70% of mined bitcoins were transferred to this trust, "McGlone emphasized.
Chris Larsen: "Ripple may leave the US for a more favorable regulatory environment"
During the Blockchain Summit in Los Angeles, Larsen emphasized that virtually every other country in the world has a better attitude towards cryptocurrencies than the United States and has a more developed regulatory framework. According to him, the management of Ripple considers the UK and Singapore as the main contenders for the transfer of the headquarters.
However, there is still a long way to go to a final decision on this issue. Larsen noted that even moving the headquarters to another country will not relieve the company from the attention of regulators when working in the United States, but it will facilitate activities in other jurisdictions.
Ripple is currently in litigation with investors who accuse the company of violating US securities laws when selling XRP. Ripple claims that XRP cryptocurrency is decentralized, which means it does not fall under securities laws.
Very good news