Ledger Client Details Dropped Bitcoin News Summary August 3, 2020

There was some scary news for users of the Ledger hardware wallet publishing. The company’s internal records were broken, revealing customer details containing up to one million email addresses. The full names, numbers and addresses of a further 9,500 customers were dropped. While funds secured by Ledger devices are still secure, any users emailed by the company saying they have been affected should be wary of phishing or even real-world attacks .

The perpetrators of Twitter’s high-profile hack last week, where accounts of various celebrities and leaders were used in a crypto theft scam. A teenage girl from Tampa, Florida in the US is alleged to have attempted to launder the stolen coins through Coinbase and BitPay, after failing to mix them properly, and was promptly identified.

After ripping off one of the biggest cryptocurrency scams ever, the core team behind PlusToken has finally been arrested by police in China. 27 individuals were apprehended and detained as part of the fraudulent scheme which attracted over $ 5.8 billion.

Twitch, the streaming platform with an estimated 15 million daily users, runs a 10% discount especially for subscribers who pay with Bitcoin. Twitch is mainly used by gamers to stream their play sessions.

Before we close, this week’s “Bitcoin quick question” is what happens to your Bitcoins if you die?

The answer is – it depends. Did you back up your Bitcoins, and ensure that someone you trust could access your backups if something bad happens?

Bitcoins, or any cryptocurrency for that matter, are mathematical tests. These mathematical proofs can be accessed using your mobile or desktop wallet apps, your secure hardware wallet, or they can even be written on a piece of paper. As long as someone on your behalf can access the mathematical proofs – your bitcoins will be secure.

And if they don’t? Your relatives will have to try to find your backups, or even guess your passwords. For that reason, it is important to be prepared for any scenario. You could leave instructions in your will, leave a trail of clues known only to your relatives, or even create a dead man switch. If you want to learn more about Bitcoin legacy planning, visit the link in the description below.

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That’s what happened this week in Bitcoin. See you next week.

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