A good week for BTC seeing prices exceed $12,000 up about 22%, forming a bullish formation indicating new players in the market. ETH rose more than 50% this month, due to the bullish market sentiment and overall rise of Defi and the progressing RTH 2.0. XRP rallied more than 30% also this week to about 25 cents, close to its year high at $0.33.
Delving a little into Altcoins, NEO performed well recently seeing prices up more than 8%, with some of its dApps securing interoperability-focused partnerships. The project is well-positioned for a short-term growth under current favourable market conditions. In other Altcoin news Chainlink’s oracle service is now available on the NEAR platform to allow developers to build infrastructure for building future applications, such as dApps.
Other news of interest, on 29 July 2020, a piece of news caught readers’ attention “One Million E-Mails and 9,500 Home Addresses Hacked From Ledger”. An astonishing headline given Ledger is considered one of the best fortified wallet technology suppliers in the virtual asset industry.
Upon further discover, however, one realised that the news headline was misleading. It turns out that the incident is about a compromise of the company’s non-virtual-asset-related e-commerce and marketing database not the hardware technology where virtual assets are stored. Nevertheless, the damage has been done to the company’s reputation. It’s bad for the crypto industry also, given the overall vulnerable public perception of the industry’s safety records.
Lessons that HKbitEX learned from the Ledger’s incident is that security breaches do not discriminate against the any component of an integrated business – just because one’s core infrastructure is bullet-proof does not mean that there are no other vulnerabilities that are non-penetrable.
In fact, the weakest link in the defence line is highly likely the so-called peripheral systems of an organisation, i.e., company website where customer’s info (email, e.g.) are likely stored in some form. HKbitEX will step up its information security measures to ensure all parts of the firm are equally well protected. The crypto industry cannot afford more safety related incidents, frankly.
Happy Trading!
