Ethereum Classic Under Multiple 51% Attacks | This Week in Bitcoin – Aug 10, 2020

Hi, I’m Nate Martin from, and here’s what’s happened this week
in Bitcoin. Ethereum Classic has suffered
its second 51% attack in less than a week, bringing the ongoing security
of the network into question. During the attack, the offending miner managed to double-spend
$5.6 million worth of ETC after spending only $200,000 to acquire
the hash power for the attack. The ETC team was advising its clients
to halt interactions with the network while corrective steps were taken. The US branch of global
cryptocurrency exchange, Binance has halted all trading and orders
following an incident.

CEO Catherine Coley tweeted,
“Your funds are safe” and she added that the incident
was not a hack. In a later update Binance.US clarified, that they noticed an error that was
not allowing users to see their orders and they didn’t want users trading blindly. $1.4 million in BTC and ETH was stolen
from Spanish crypto firm, 2Gether. The firm stated that it won’t be
able to rapidly repay all its users, whose pooled funds were stolen. 2Gether, which provides wallet, exchange,
and crypto payment card services, has drawn up a plan involving the issuance
of new tokens to affected customers. The Xapo crypto custody and card service, the second biggest
identified holder of Bitcoin, transferred nearly 100,000 BTC. Bitcoins worth over $1.1 Billion
were transferred for a fee of only $3.55. The funds were moved to what is now
the third-largest Bitcoin address by value. Before we conclude,
this week’s Bitcoin quick question is: can I store multiple altcoins
on a hardware wallet? The answer is yes, although
which altcoins you are able to hold depends on the hardware wallet
you choose to use.

The most popular hardware wallets
are Trezor and Ledger. Ledger, for example, is known to support
a wide variety of altcoins on both of their models,
the Nano S and the newer Nano X. Trezor, however, does not support
popular altcoins like XRP, Cardano, EOS or Monero
on its popular Trezor One model. It does, however, support them
on their advanced Model T. The important thing to confirm
when choosing your hardware wallet is that it supports Ethereum-based tokens, as it is the most popular platform
for developers to create their token.

For complete comparison of hardware wallets,
including altcoin support, visit the link in the description below. Have a question you want us to answer?
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ad free browsing that can also earn you rewards. Just visit the link in the description below. That’s what’s happened this week in Bitcoin.
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