What Happened Today in Crypto? – November 27

Rogue Developer Allegedly Compromised Countless Bitcoin Wallets

Event-stream, a Node.js module that is being used in millions of different web applications including Bitcoin wallets, was recently compromised by a rogue developer. According to reports, a user going by the name of right9ctrl, who had low GitHub coding activity, asked to receive publishing rights to a certain event-stream library. As the previous maintainer did not do much work on it for years, he allowed it.

After receiving necessary permissions, the developer infected the module with a malware (knowingly or unknowingly), and then patched the problem, likely in order to avoid detection. However, those who installed this module are still affected, including those who use BitPay’s open-source wallet for Bitcoin — Copay.

Hong Kong’s Modern Terminals Adopts Blockchain

The second largest terminal operator in Hong Kong, Modern Terminals, has just announced that it will join a project called TradeLens. This is a blockchain-based technological solution that is being created by the joint efforts of IBM and Maersk. The project’s goal is to digitize and streamline global supply chain’s processes. As a result, the developers expect to achieve lower costs and higher efficiency.

Prior to TradeLens project, ports around the world used paper records which led to losses of billions of dollars in past decades. TradeLens can overcome such issues, improve shipment time by 40%, and lead supply chain participants to an overall economic saving.

Ledger Goes To New York: Hardware Wallet Maker Opens an Office for Institutional Investors

Ledger, one of the best-known producers of hardware cryptocurrency wallets, has announced that it will open a new office in New York. The office will serve institutional investors, and Ledger stated that it aims for NYC due to its position in the world of finances.

Many have taken this as a sign that Ledger expects an increase in institutional clients, as well as a growing interest in cryptocurrency markets, in general. Many have also taken this as a confirmation that corporate clients are actively searching for a safe way into the crypto market.

French tobacco firm planning to start selling Bitcoin

KeplerK, a tobacco-selling company from France has recently announced plans to sell Bitcoin in its stores located throughout the country. While the company has previously announced that they have an approval to conduct this plan, the French version of SEC has issued a statement denying this.

The concern of the financial regulator seems to be that the company will not have the necessary liquidity to cover all exchanges. At the same time, experts agree that there are ways for the company to solve this issue. The firm has yet to respond, although for now, it doesn’t seem like they are planning any changes.

Michael Lempres Leaves Coinbase

According to reports, Michael Lempres, Coinbase’s head of policy, is soon to leave the firm for another position at a venture capital company. The company in question is Andreessen Horowitz, which is also among the exchange’s earliest investors. Considering that there were no announcements regarding Lempres’ replacement, many assume that Coinbase is currently looking for candidates, although this is also not confirmed at the time of writing.

Although Mike Lempres’ departure from the exchange comes at the time when scams, hacks, and regulatory uncertainty are at their highest, the exchange still acknowledged his past contributions and wished him the best in his new position.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Ali Raza is finance editor at TheOofy. He is a journalist with experience in web journalism and digital marketing. Ali holds a master degree in finance and enjoys writing about cybersecurity, cryptocurrencies, and technology.