Crypto custody

Crypto custody service Curv raised $ 23 million from Commerzbank and Coinbase

Crypto storage infrastructure provider Curv raised $ 23 million in Series A fundraising. The investors were Commerzbank Group, Coinbase Ventures, Digital Currency Group and some other companies.

Curv intend to use the received funding to strengthen their infrastructure, expand the team and client base, writes The Block. Curv's clients include Franklin Templeton, eToro, and the Genesis crypto trading platform.Curv uses multilateral computing cryptography to protect assets. The company claims that this approach is superior to multi-signature wallets as it allows random key elements to be generated instead of a fixed private key. These elements are then stored and processed separately in order to obtain an exit to authorize the transaction. The company claims that its customers have been able to save 60-70% on transaction processing fees by ditching multi-signature wallets.

Also today, Curv announced the public launch of the tX initiative, bringing together cryptographers and developers using the company's technology to develop custody solutions. The group started forming a few months ago and has already developed several models for financial institutions in the cryptocurrency and traditional industries.

Together with the latest round, the total amount of funds raised by Curv to date has reached $ 29.5 million.

Binance Sentry Studied Cryptocurrency Fraud Schemes

In the report, Binance Sentry presented the results of a study of the work of fraudulent cryptocurrency schemes that promise fast or exponential return on investment. The studied schemes concern not only cryptoassets, but also foreign exchange markets, binary options and contracts for difference (CFD). The researchers note that media publications highlight the risks that such schemes pose, especially aimed at inexperienced investors.

• Rockside launches a service to eliminate frozen transactions on the Ethereum network

Founded in 2018, Paris-based blockchain company Rockside has released a free version of software that can fix stuck and pending transactions on the Ethereum network.

Hanging transactions are transactions that are not confirmed due to the fact that the user paid a low commission for the transfer of funds. In decentralized finance (DeFi) protocols, such transactions can cause protocol disruptions and slow down the entire contract.

Rockside's "Transaction Relay Service" algorithmically determines fees on behalf of users. If a large number of high-fee transactions are simultaneously streamed on the network, Rockside will ensure that contracts are funded with sufficient gas to prevent transactions from freezing.

In addition, through its API, Rockside offers gas-free transactions. They use gas provided by the developer of the DeFi protocol, which covers user fees for gas as part of a simple interaction with the blockchain.

Ethereum developers are also looking for a way to combat high transaction fees and the fact that some transactions freeze while waiting for miners to approve. Recently, it was revealed that the community will fund developers who are working on EIP-1559, which aims to address issues with the existing transaction fee model.

“Since the end of 2019, the number of companies developing applications on the blockchain has grown steadily,” said Rockside CEO Corentin Denoeud. “Some of them have millions of users and sometimes millions of dollars in assets. In this case, you cannot risk even one transaction that is not included in the blockchain. "

Rockside offers a free service for projects that process less than 100 transactions per day, and a paid service with no transaction limit for large protocols. In addition, Rockside offers to cover all gas costs for the first 100 transactions of new users.

IOTA Developers Launch Pollen - First IOTA 2.0 Testnet

The IOTA leadership announced that the launch of IOTA 2.0 will be carried out in three phases: Pollen ("pollen"), Nectar ("nectar") and Honey ("honey"). Thus, the creators drew an analogy with honey and bees, which work in a team and are an integral part of a complex natural ecosystem. According to the developers, users will be able to observe the formation of IOTA 2.0 "from pollen to honey." Pollen is the first official IOTA 2.0 testnet and will lay the foundation for a scalable, fee-free system and a centralized Coordinator that allows developers to control the network.

Palo Alto Networks Discovers New Cryptojacking Software

This week, security experts at Unit 42 Palo Alto Networks warned of a new self-propagating malware that conducts cryptojacking and DDoS attacks on Windows systems. It was named Lucifer.

According to the research, Lucifer is a hybrid malware that can hijack computer power for stealthy Monero mining and DDoS attacks. The program exploits old vulnerabilities in the Windows platform.

Once hacked, attackers execute commands to install XMRig Miner, a Monero mining application (XMR). Palo Alto Networks claims that the fraudulent Monero wallet has already received 0.493527 XMR. The researchers have provided some advice on how to avoid falling victim to Lucifer:

“It is highly recommended that timely updates and patches are installed for vulnerable software: Rejetto HTTP File Server, Jenkins, Oracle Weblogic, Drupal, Apache Struts, Laravel frameworks, and Microsoft Windows. Strong passwords will also help you avoid falling victim to a dictionary brute-force attack. "

Monero is most often used by hackers for cryptocurrency hidden mining. In May, hackers attacked several supercomputers in Europe to mine Monero. The supercomputer clusters were forced to shut down to investigate incidents. In the spring, the Slovak antivirus company ESET announced that it had successfully counteracted a botnet of 35,000 computers in Latin America that mined XMR.

Binance Launches Perpetual Compound Contracts Up To 50x Leverage

The COMP / USDT contract will become available on the Binance Futures platform on June 30 at 12:00 GMT and will allow you to open positions with up to 1 to 50x leverage.

COMP has been experiencing sharp fluctuations in the rate since the start of trading over the past two weeks and at the time of publication is worth about $ 240.

Compound founder Robert Leschner tweeted that the amount of assets provided by users for lending and earning awards in COMP recently exceeded $ 1 billion for the first time. Of this amount, most of the funds were deposited in BAT, ETH and USDC with 31%, 24% and 21% respectively.

Binance also announced today that it has added the ability to deposit fiat currencies on the non-custodial exchange Binance DEX via MoonPay. According to the announcement, the option is available in over 40 countries and allows direct purchase of BNB tokens to be credited to Binance DEX wallets.