TokenCard

Ethereum Based Debit Card ‘TokenCard’ ICO Raises $12.7 Million in 30 Minutes

admin Altcoins, Bitcoin 2.0, ICO's, Smart Contracts, Visa 0 Comments

TokenCard, which according to their website aims to create a smart contract powered debit card, just managed to raise almost $13 million in about 30 minutes through eth itself as well as other ethereum based tokens, such as SingularDTV (SNGLS). The majority of the funding came through eth, with almost 170,000 sent, valued at around $12,782,000. Some 1.6 million SNGLS tokens were sent with the next biggest being 6,600 Golem (GNT) tokens, which in combination are valued at around half a million dollars. Tokencard ICO stats according to their website. So the figures sort of don’t add up, but they could be using a different price for eth. The token sale, however, has encountered problems. An ethereum proponent and ICO participant found out that those who sent SNGLS received far more tokens than those who sent eth, paying a dollar equivalent of $0.0699 per token while ethers paid in a range of $0.52 to $0.78. A representative from Monolith Studio, which is to create the TokenCard, stated “all is fine” before adding that “on a scale for [sic] 1 to 10 in terms of seriousness; this is a 1.” Many would disagree, giving blatant unfairness in the token sale process, …

Criminals Can Unravel Visa Security Codes With Ease, Study Shows

Criminals Can Unravel Visa Security Codes With Ease, Study Shows

admin Credit Card Companies, Cyber Crime & Cyber Terrorism, Dark Web Film, Security, Visa 0 Comments

Many Bitcoin users have compared the digital currency to settlement networks like Visa. However, one important technical aspect which separates Bitcoin from the rest is security. In early November, Tesco Bank suspended all user transactions after 20,000 clients lost an estimated $700 per account. A study published in the academic journal IEEE Security & Privacy, led by Newcastle University’s Mohammed Ali, revealed that an attack called “Distributed Guessing Attack” could have been used in the breach of Tesco Bank accounts. Essentially, the Distributed Guessing Attack (DGA) is a method which allows hackers and criminals to gain access to Visa credit card numbers as well as their security codes within six seconds by a process of elimination. Ali, the author of the study, stated that the process of elimination with credit card networks like Visa is made possible as they permit an unlimited number of guesses for each card data field. Ali says: “The unlimited guesses, when combined with the variations in the payment data fields make it frighteningly easy for attackers to generate all the card details one field at a time.” “Each generated card field can be used in succession to generate the next field and so on. If …