Understanding mining algorithms Mining algorithms are the backbone of blockchain-based networks like Bitcoin and other protocols. In blockchain technology, mining algorithms are necessary for transaction verification and network security. A mining algorithm instructs miners’ computers to follow a set of rules to generate a valid block. Proof-of-work (PoW) is the well-known consensus algorithm used by…
A recent attack compromised Monero’s community crowdfunding wallet, wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000. The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero developer Luigi. According to him, the source of the breach has not been identified yet. “The CCS…
Global cryptocurrency exchange OKX will delist several p including Monero (XMR), in early 2024. OKX officially announced on Dec. 29 that it will delist a number of trading pairs involving major privacy tokens like Monero and Zcash (ZEC), as well as partly private coins like Dash (DASH) and Horizen (ZEN). The OKX exchange will remove a…
Finland’s National Bureau of Investigation reportedly tracked Monero (XMR) transactions as part of an investigation over Julius Aleksanteri Kivimäki’s criminal trial. Kivimäki is accused of hacking a private mental health firm’s database and demanding ransom payments in cryptocurrencies. According to local media reports, prosecutors dropped new evidence on Jan. 22 showing a crypto trail leading to Kivimäki’s…
Major privacy-focused cryptocurrency Monero has plummeted to multimonth lows amid Binance announcing the upcoming delisting of the token from its platform. Binance will delist Monero (XMR) alongside other tokens like Aragon (ANT), Multichain (MULTI) and Vai (VAI) on Feb. 20, 2024, the exchange announced on Feb. 6. As a result of the delisting, Binance will remove all…
In episode 49 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw and guest Antoni Zolciak, co-founder of Aleph Zero, delve into the complex world of privacy in the Web3 ecosystem, with a particular focus on privacy-centric projects. Zolciak, who is deeply entrenched in the evolution of privacy protocols, highlights the challenges and advancements…
Users of a major darknet marketplace say they’ve been unable to withdraw Bitcoin (BTC) and Monero (XMR) as of Tuesday, March 5, amid growing fears of an “exit scam.” The marketplace — Incognito Market — is known mainly as a platform to trade narcotics and is valued between $10 million to $30 million, according to…
Crypto exchange Kraken has announced that it is winding down support for the Monero (XMR) privacy token for its customers based in Ireland and Belgium. Kraken posted a notice saying it would halt the trading and deposits for XMR from May 10. The exchange added that all margin trading positions must be closed before that…
A peer-to-peer (P2P) trading platform for privacy coin Monero has shuttered its services effective immediately, adding to the recent wave of crypto privacy closures and arrests. On May 7, LocalMonero announced that, effective immediately, all new signups and advertisement postings for Monero (XMR) trades are disabled. On May 14, the platform will disable the trading of the…
A bill has been introduced in the United States House of Representatives to ban cryptocurrency mixers for two years. Called the Blockchain Integrity Act, it is sponsored by five Democratic congresspeople led by Sean Casten. Casten defined a crypto mixer in a statement as a pool that allows users to “generate a new address and…