Hackers steal $480,000 worth of NULS cryptocurrency from its dev team – The Next Web

Hackers ransacked accounts belonging to the development team of an obscure blockchain earlier today,stealing $480,000 worth of an obscure token known as NULS.

The NULS team confirmed the attack in a tweet posted this morning. In total, two million NULS ($480,000) were taken.

Of that stash, the team reported that more than half a million tokens have beenliquidated via cryptocurrency exchanges. That amount equates to roughly $131,600.

The team plans to hard fork the blockchain in an attempt to permanently freeze the remaining NULS cryptocurrency.

At pixel time, the price of NULShas been pretty much unaffected by the incident, which was reportedly the fault of a security vulnerability in the 2.2 version of the software.

This might be due to its value already being down over 95 percent since its all-time-high even before the attack was disclosed.

NULS network participants are urged to update their node software to the latest version as soon as possible.

The response of the NULS team is reminiscent of how Ethereum core developers chose to handle the hacking of The DAO in 2016.

The DAO was a decentralized autonomous organization powered by smart contracts that operated similarly to a venture capital fund, but investor-driven.

Indeed, after hackers stole $40 million worth of Ether from The DAO, Ethereum devssplit the blockchain into two versions: one in which those affected by the hack could reclaim their funds (Ethereum), and another that continued to uphold the original version of the blockchain ledger (which became Ethereum Classic).

That particular hard fork has remained controversial to this day, with critics using it as proof of the centralization of Ethereums governance.

The NULS blockchain, however, is much less popular than Ethereum, so its unlikely this hard fork will causethat much of a stir.

Published December 23, 2019 14:05 UTC

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Hackers steal $480,000 worth of NULS cryptocurrency from its dev team - The Next Web

The $3 Bilion Bitcoin Dump Isnt Going to Happen – newsBTC

At the heights of last years so-called hash war, Bitcoin SV founder Craig Wright had threatened to crash rival cryptocurrency bitcoin to $1,000.

The threat itself came from the claim that Mr. Wright is Satoshi Nakamoto, the pseudonymous creator of bitcoin and that he holds billions of dollars worth of the benchmark cryptocurrency. Mr. Wright even sued people who refused to acknowledge him as the original bitcoin creator.

But the clock turned when he himself got sued for being 50 percent Satoshi. Ira Kleiman, brother of late Dave Kleiman who allegedly helped Mr. Wright mint the first batch of bitcoin, accused him of stealing Daves share of 1 million BTC.

The US court found Mr. Wright guilty. It ordered him to pay half of the BTC valued about $5 billion at the time of judgment back to Mr. Ira. Mr. Wright told the court that he and Late Mr. Dave had locked that bitcoin in a complicated trust. He said he could not retrieve the cryptocurrency anymore.

However, in an interview he gave later to Modern Consensus, Mr. Wright kept theorizing what Mr. Ira could do if he gains access to 1 million BTC.

They might have to convince Ira not to dump it, he told the interviewer. I cant convince him not to dump it. Ira has to do what Ira has to do. And it wouldnt have been me. And I dont need it. He does.

Mr. Wright never refuted the existence of the trust that apparently holds 1.1 million BTC. Nevertheless, he is adamant about not having any access to the private keys to those coins.

With a court order hanging by his neck, the market doubts that Mr. Wright might sell whatever bitcoin he currently holds (supposedly a large amount). He proclaimed after the courts ruling against him that Mr. Ira alone could tank the bitcoin market by $2-3 billion.

If youd left me alone, I would have sat on my f*cking money and you wouldnt have to worry, Mr. Wright said. And the biggest whale ever has to dump because he has to pay tax. Its not a transfer. Florida has an estate tax. Trust me. This is not an outcome I would have liked.

But to this date, Mr. Wright has not paid a penny to either Mr. Ira nor his legal counsels as ordered by the US court. In the last hearing held on December 18, Mr. Wrights lawyers played offense with Mr. Ira, questioning how he managed to pay $400,000 in cash for his home right after his brothers demise.

When Mr. Wright threatened to crash Bitcoin to $1,000 in November 2018, it appeared as he had a huge stash of the cryptocurrency. But since the court ruling, he is not making such threats.

In his latest interview with Bloomberg, Mr. Wright said he does not want to dump his Bitcoin fortune because the move would hurt many people in the industry.

The sum of all events leaves the market with two potential outcomes: Either Mr. Wright has about $3 billion worth of Bitcoin or he doesnt. If the controversial Satoshi has the money, he is bluffing about not having them. And if he does not have the money, he is straightforwardly lying.

The conclusion narrows down to one thing: that $3 billion-dump is not going to happen, after all. One bear at a time!

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The $3 Bilion Bitcoin Dump Isnt Going to Happen - newsBTC

How VeChain Cryptocurrency Was Able to Track and Freeze $6.1M of Stolen Funds – newsBTC

The VeChain Foundation updates the cryptocurrency community on the recent buyback wallet hack. Following the agreement of the Authority Masternodes, by way of voting, VeChain released a patch to freeze the majority of the hackers accounts.

A little over a week ago, the VeChain Foundation admitted to the theft of 1.1 billion VET tokens.

CEO, Sunny Lu was quick to reassure investors that the VeChain network is as secure as ever. But the incident did highlight a weakness in their internal practices.

In a Periscope broadcast, Lu explained the circumstances behind the hack. He said a member of the team, who is responsible for overseeing the buyback process, did not follow procedures when creating the buyback wallet.

Lu expanded on this by admitting a trojan infected machine, with keylogging software, enabled the hacker to obtain private key information. From there, the hacker transferred cryptocurrency assets out of the buyback wallet, into an account he controls.

Its caused by a mis-mangement action The responsible person, who did not follow compliance protocol, will hold the consequence of internal management actions.

The cryptocurrency community, as a whole, has praised VeChain for its quick response and transparent approach to the matter. And, by all accounts, it seems as though VeChains reputation remains intact.

During the last AMA session, a couple of weeks ago, I was just talking about one of the major challenges to VeChain, which is the internal management. And yesterday, unfortunately we just had a really big lesson.

Yesterday, the VeChain Foundation issued an update on the buyback wallet hack. Through the use of cryptocurrency data analysis tools, the Foundation has compiled a list of hundreds of wallets that have received stolen funds.

The relevant exchanges were approached with a blacklist of addresses, in order to prevent the stolen deposits from hitting the market.

However, the Steering Committee decided that more decisive action is needed, to stem the rot. On 18th December they passed a motion to contact all Authority Masternodes, with a view to issuing an emergency patch to freeze these accounts.

The Authority Masternodes voted in agreement with this. And as a result, the hacker has lost control over the majority of the stolen funds.

Currently, 469 addresses owned by the thief have been blocked by the Authority Masternodes, which froze about 727 million VETs.

In addition, the VeChain Foundation will continue working with exchanges, regarding the retrieval of the rest of the stolen funds.

Its a well-known fact that VeChain has ambitions to decentralize its platform. And plans are already underway to achieving this goal, for example, in the recent announcement of their decentralized governance model.

And while many in the cryptocurrency community have praised VeChain, and Sunny Lu, for a professional and decisive approach to the mistake, in reality, their actions highlight just how centralized VeChain is. Even despite Authority Masternodes voting to agree to the patch implementation.

After all, this means Authority Masternodes can potentially collude to control the VeChain network. And while that is an unlikely scenario, it still highlights the centralized power held by the Authority Masternodes.

Whats more, for an international supply chain solution to have true value, it must be impartial. The patch implementation demonstrates, rightly or wrongly, that VeChain Masternodes are not neutral.

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How VeChain Cryptocurrency Was Able to Track and Freeze $6.1M of Stolen Funds - newsBTC

Zimbabwe Could End Corruption With This Cryptocurrency Initiative – Bitcoinist

Cryptocurrency has long been trumpeted and used as a tool to escape the hardships of abusive, inflationary financial regimes. Step forward an audacious plan to economically jailbreak the entire population of Zimbabwe with Dai.

Bitcoin use has soared in Zimbabwe over the past year, as the government has applied increasingly oppressive legislation on citizens in an attempt to prop up the failing economic system. A ban on foreign currency transactions sent LocalBitcoins use soaring, resulting in large premiums on BTC price in the region.

US Dollars are still transacted on the black market but this leaves a heavy reliance on cash, as digital payment methods are not accessible. For digital payments, citizens were using local mobile phone-based cash-in cash-out services. These were also banned in October, but reinstated after a public outcry.

But still, any payments in local currency are affected by increasing inflation, and the volatility of bitcoin makes it a less than ideal alternative.

Team Toast, developer of the decentralised and oppression resilient fiat-to-crypto gateway, DAIHard, has put forward a plan for the entire nation. A Blueprint for an Economic Jailbreak if you would,which they have published as The ZimDai Whitepaper.

Utilising the Dai stablecoin, DAIHard and Bis as its major tools, it attempts to overcome challenges such as user education and ease of use, state opposition, patchy and government-controlled internet connectivity, and funding issues.

The core of the plans revolves around recruiting a network of ZimDai agents. These agents could initially be anybody who can use cryptocurrency/Dai services with confidence, and use this to offer bank-like services to others.

Services would include inter-city transfers, international Dai to cash-in-hand for remittances from abroad, access to South African bank accounts, or simply education on how to set up and use the Dai stable cryptocurrency. Agents would charge a small commission for these services, but user would still be avoiding the huge fees charged by banks and other financial institutions.

The project is currently looking at a potential token sale to raise funds from the cryptocurrency community in order to put the plan into action and start recruiting agents.

Clearly, there is still much work to do. But at Christmas, it is nice to see a project using cryptocurrency for the good of others, rather than a desire for profit. After all, wasnt that a big part of the whole idea in the first place?

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Zimbabwe Could End Corruption With This Cryptocurrency Initiative - Bitcoinist

How China’s National Cryptocurrency Will Improve the Nation’s Economy – Bitcoinist

According to recent information, Chinas e-yuan will roll out in early 2020, and it will be very cautious, initially only focusing on consumer spending.

Recent reports regarding Chinas upcoming cryptocurrency claim that Beijing is preparing to launch the so-called e-yuan in early 2020. This will be the worlds first digital sovereign currency. However, the reports also indicate that China plans to be very tentative with its new coin and the initial rollout process.

The new technology is bound to be very disruptive, which is why China plans to take each step with extreme care, and initially focus on consumer spending.

As many are likely aware, there are many among the worlds largest monetary authorities that are currently studying cryptocurrencies. Some of them are even planning of creating their own versions of digital money. However, this time, the Peoples Bank of China is taking the lead, likely due to concerns about Bitcoin and Facebooks Libra.

Just like the space race from half a century ago, the world is in a rush to see who will be the first to gain the lead in the crypto space, with China currently being ahead of everyone else; especially the US. Of course, the country has been rather secretive and cryptic about its upcoming crypto.

But, earlier this year, in November, the Peoples Bank of Chinas head of digital currency research institute, Mu Changchun did give away a few hints. According to him, the e-yuan will come to the public via several commercial banks, including Ant Financial and Tencent. Both of them are the nations online payments giants.

While the new form of digital money will likely bring a number of benefits to its users, it will also greatly benefit the countrys government. Thanks to the underlying technology the blockchain, Chinas government will have the ability to follow all payments done with e-yuan at all times.

This will be very helpful to the countrys financial watchdogs, which would be able to detect criminal activities such as money laundering, tax evasion, and any other kind of fraudulent activity. As for the coins users, all payments and interbank settlements would become significantly more secure and efficient.

The new technology would also improve the situation in parts of China that were not previously covered properly. Not to mention the fact that it would help the countrys efforts to clean up as much as $341 billion of bad debt. It will also solve some of Chinas biggest problems, such as the practice of pledging the same asset for multiple loans. With distributed ledgers potential for storing and quickly retrieving this type of data, the country will become a lot more efficient at identifying and eliminating this type of fraud.

Finally, it will also be able to improve the situation for a lot of local businesses, which still trade discounted acceptance notes. Their digitization will also lead to a reduction of fraud, which will help businesses and the country, in general, move forward.

With blockchain and crypto still being unregulated and uncertain around the world, many have speculated whether or not Chinas decision to accept blockchain and launch e-yuan is such a good idea. Bitcoinist discussed this at length in one of their posts published around a month ago. However, there are some who support the move and believe that the new mechanism will allow Chinese yuan to be used in everyday transactions around the world, such as Circles CEO, Jeremy Allaire.

Do you think that Chinas acceptance of blockchain and its launch of a national cryptocurrency are a good decision? Let us know your thoughts in the comments below.

Images via Shutterstock

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How China's National Cryptocurrency Will Improve the Nation's Economy - Bitcoinist

Artificial Intelligence Identifies Previously Unknown Features Associated with Cancer Recurrence – Imaging Technology News

December 27, 2019 Artificial intelligence (AI) technology developed by the RIKEN Center for Advanced Intelligence Project (AIP) in Japan has successfully found features in pathology images from human cancer patients, without annotation, that could be understood by human doctors. Further, the AI identified features relevant to cancer prognosis that were not previously noted by pathologists, leading to a higher accuracy of prostate cancer recurrence compared to pathologist-based diagnosis. Combining the predictions made by the AI with predictions by human pathologists led to an even greater accuracy.

According to Yoichiro Yamamoto, M.D., Ph.D., the first author of the study published in Nature Communications, "This technology could contribute to personalized medicine by making highly accurate prediction of cancer recurrence possible by acquiring new knowledge from images. It could also contribute to understanding how AI can be used safely in medicine by helping to resolve the issue of AI being seen as a 'black box.'"

The research group led by Yamamoto and Go Kimura, in collaboration with a number of university hospitals in Japan, adopted an approach called "unsupervised learning." As long as humans teach the AI, it is not possible to acquire knowledge beyond what is currently known. Rather than being "taught" medical knowledge, the AI was asked to learn using unsupervised deep neural networks, known as autoencoders, without being given any medical knowledge. The researchers developed a method for translating the features found by the AI only numbers initially into high-resolution images that can be understood by humans.

To perform this feat the group acquired 13,188 whole-mount pathology slide images of the prostate from Nippon Medical School Hospital (NMSH), The amount of data was enormous, equivalent to approximately 86 billion image patches (sub-images divided for deep neural networks), and the computation was performed on AIP's powerful RAIDEN supercomputer.

The AI learned using pathology images without diagnostic annotation from 11 million image patches. Features found by AI included cancer diagnostic criteria that have been used worldwide, on the Gleason score, but also features involving the stroma connective tissues supporting an organ in non-cancer areas that experts were not aware of. In order to evaluate these AI-found features, the research group verified the performance of recurrence prediction using the remaining cases from NMSH (internal validation). The group found that the features discovered by the AI were more accurate (AUC=0.820) than predictions made based on the human-established cancer criteria developed by pathologists, the Gleason score (AUC=0.744). Furthermore, combining both AI-found features and the human-established criteria predicted the recurrence more accurately than using either method alone (AUC=0.842). The group confirmed the results using another dataset including 2,276 whole-mount pathology images (10 billion image patches) from St. Marianna University Hospital and Aichi Medical University Hospital (external validation).

"I was very happy," said Yamamoto, "to discover that the AI was able to identify cancer on its own from unannotated pathology images. I was extremely surprised to see that AI found features that can be used to predict recurrence that pathologists had not identified."

He continued, "We have shown that AI can automatically acquire human-understandable knowledge from diagnostic annotation-free histopathology images. This 'newborn' knowledge could be useful for patients by allowing highly-accurate predictions of cancer recurrence. What is very nice is that we found that combining the AI's predictions with those of a pathologist increased the accuracy even further, showing that AI can be used hand-in-hand with doctors to improve medical care. In addition, the AI can be used as a tool to discover characteristics of diseases that have not been noted so far, and since it does not require human knowledge, it could be used in other fields outside medicine."

For more information:www.riken.jp/en/research/labs/aip/

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Artificial Intelligence in Transportation Market 2020: New Innovative Solutions to Boost Global Growth with New Technology, Business Strategies,…

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Close to Home | Artificial Intelligence and us – Mindanao Times

A curious event in 2018 when Facebooks AI robots started communicating among themselves with their own language which programming experts on Facebook could not understand had the company shutting down their bots and no news of having opened it yet again.

This happening with Facebook is not isolated. The AlphaGo incident where a professional human player of the game was beaten by a robot sent alarm to human beings concerned. AlphaGo is a computer program that plays the Chinese board game called Go. It was in March 2016 that AlphaGo beat Gos Best Player Lee Sedol in the game where combinations of moves are said to be as many as the stars in the universe.

A workshop called Sprit, Science, and Artificial Intelligence, facilitated by social scientist and activist Nicanor Perlas, discusses why these leaps on technology and the seemingly subsequent surrender of humans to it should be something that must be met with our full consciousness and wakefulness. With the technologys lure of conveniences and perfection, we human beings are slowly giving up our inherent capacities.

While we are so out to believe that technology is neutral, we need to dig deeper to come face to face with its inner logic. I used to say, and these days, I hear many say often, that technology is neither good or bad. That it is up to us to make it advantageous or otherwise. It sure looks like that on the surface level. But just beneath it, lies the inner logic of technology: if we look deeper, technology makes us give up our inherent capacities as human beings.

So then, it is best to ask ourselves: IF we have been created in the Divines image and likeness, what could be our inherent capacities? What could have been planted in us if we are to be the true and full human beings that the Divine intends us to be?

Technology tycoon Elon Musk has been very vocal about the threats to humanity that pervade with the proliferation of Artificial Intelligence (AI). Recently, Tesla, Musks company, released all its patents to help humanity survive. In first world countries, it is said that teachers are being replaced by robots and computers. If you have seen Jimmy Falons interview with the robot named Sophia, it looks amusing at a glance, but if given a thought, one might think of the danger with human resources being replaced by these technological devices that seem to supersede us in terms of intelligence.

The lure of technology in the name of AI (now gearing up to be Artificial Super Intelligence, [ASI]) has three facets: Super Health, Super Intelligence, and Immortality. This has been created by AI companies to counter human imperfections. People get sick, so they offer super health, people often think at a very slow pace and what poor memory, so they offer super intelligence. Finally, people die, so they offer immortality. The proponents of these ideas think that consciousness resides on the brain, and so by creating artificial bodies that can accommodate the consciousness in the brain, thus making immortality at hand. They call this Transhumanism.

This Transhumanism gear of AI is slowly leading the human being to mass extinction as this would mean no more reproduction as humans. Are we, as humanity, moving like the sleeping children who were led by the Pied Piper of Hamelin to the abyss?

We will be convinced of this technology hype if we do not stop and discern over this lures. But taking time to contemplate over these things, it will be revealed that all these lures are become effective once we deviate from the path of nature. Mother Nature has been cradling our humanity.

For our super health, we have the plants and the four elements to take care of us. For our super intelligence, our thoughts and capacity to create has been inherent in us, provided that we commune with her. It is almost forgotten but our ancestors showed super intelligence. There were documents that tell of our ancestors being capable of telepathy and teleportation. Yes, truth is stranger than fiction. And finally, for our concern of death. We only need to be assured that we no longer die. A Spiritual Being in the name of Christ had long defeated death for us. But if we only look at it in a materialist perspective, we cannot have the faculties to understand it. Nonetheless, it still needs to be said.

While AI poses an abominable threat to the existence of humanity, there is no need to fear. The call is to face this task wide awake and conscious. The AI has become a dragon to defeat because we have not been living up to who were truly are. Now, this dragon wants us to show our courage and together brave this challenge for the future of our humanity. Many, I, myself included, believe that by going back to nature, the human being will make manifest once more that no one is stronger than us except God. Simply because, we are the summit of His creations His own image and likeness.

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Close to Home | Artificial Intelligence and us - Mindanao Times

China should step up regulation of artificial intelligence in finance, think tank says – msnNOW

Jason Lee/REUTERS A Chinese flag flutters in front of the Great Hall of the People in Beijing, China, May 27, 2019. REUTERS/Jason Lee

QINGDAO, China/BEIJING (Reuters) - China should introduce a regulatory framework for artificial intelligence in the finance industry, and enhance technology used by regulators to strengthen industry-wide supervision, policy advisers at a leading think tank said on Sunday.

"We should not deify artificial intelligence as it could go wrong just like any other technology," said the former chief of China's securities regulator, Xiao Gang, who is now a senior researcher at the China Finance 40 Forum.

"The point is how we make sure it is safe for use and include it with proper supervision," Xiao told a forum in Qingdao on China's east coast.

Technology to regulate intelligent finance - referring to banking, securities and other financial products that employ technology such as facial recognition and big-data analysis to improve sales and investment returns - has largely lagged development, showed a report from the China Finance 40 Forum.

Evaluation of emerging technologies and industry-wide contingency plans should be fully considered, while authorities should draft laws and regulations on privacy protection and data security, the report showed.

Lessons should be learned from the boom and bust of the online peer-to-peer (P2P) lending sector where regulations were not introduced quickly enough, said economics professor Huang Yiping at the National School of Development of Peking University.

China's P2P industry was once widely seen as an important source of credit, but has lately been undermined by pyramid-scheme scandals and absent bosses, sparking public anger as well as a broader government crackdown.

"Changes have to be made among policy makers," said Zhang Chenghui, chief of the finance research bureau at the Development Research Institute of the State Council.

"We suggest regulation on intelligent finance to be written in to the 14th five-year plan of the country's development, and each financial regulator - including the central bank, banking and insurance regulators and the securities watchdog - should appoint its own chief technology officer to enhance supervision of the sector."

Zhang also suggested the government brings together the data platforms of each financial regulatory body to better monitor potential risk and act quickly as problems arise.

(Reporting by Cheng Leng in Qingdao, China, and Ryan Woo in Beijing; Editing by Christopher Cushing)

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China should step up regulation of artificial intelligence in finance, think tank says - msnNOW

China’s Cryptography Law: Embarking on a New Era of Cryptography Regulation [Brought to you by JunHe] – Legal Business Online

Fang Zhou and Yue (Brett) Zhang of JunHe review the old regulatory system of cryptography law and how the newly introduced PRC Cryptography Law brings a more flexible approach for cipher products to flourish in China

On Oct. 26, 2019, the Standing Committee of the National Peoples Congress passed the PRC Cryptography Law (Cryptography Law) (). The Cryptography Law is the first cryptography statute at a national law level, replacing old regulations that have been in use for more than two decades. By introducing major changes to the existing regulatory regime on cipher products, the Cryptography Law marks a new era of cipher regulation in China, particularly in relation to the use of cipher in commercial environment.

The Cryptography Law introduces classification of ciphers based on the nature of the data or information they intend to protect:

The Cryptography Law does not stipulate general approval procedure for R&D, manufacture, sale, use and import of plain commercial cipher products. Instead, the Cryptography Law plans to regulate commercial cipher products by way of formulating and implementing relevant national standards, which presumably should be technical in nature and may also incorporate overseas or internationally recognized standards with necessary localization. As exceptions, the Cryptography Law permits the PRC government to establish import/export approval for commercial cipher products that concern Chinas national security, public interests and welfare, or international commitments made by the PRC government.

The Cryptography Law makes it clear that a non-discriminatory principle should be observed in relation to foreign invested companies and their activities involving commercial cipher. It further requires that no PRC authority may force any foreign invested companies to disclose or transfer their commercial cipher by administrative measures.

Despite the general non-approval approach, the Cryptography Law provides certain exceptional cases where commercial cipher products may be subject to additional certification or assessment requirements:

LOOKING FORWARD

However, it remains to be seen how the PRC authority will define exceptional cases through future implementation of the Cryptography Law, particularly with respect to the scope of key terms such as national security or public welfare. Giving these exceptional cases a broad scope means more commercial cipher products would need to obtain certification or pass review or assessment procedures supervised by the authorities. This may, to some extent, undermine the benefit of the non-approval principle set out by the Cryptography Law because such procedures may be structured as a modified form of governmental approval.

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China's Cryptography Law: Embarking on a New Era of Cryptography Regulation [Brought to you by JunHe] - Legal Business Online