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Update: BitMEX Reassures Its Users That All Funds Are Safe, Claims Trolls Targeted Its Twitter Account

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  • Yuri Molchan
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    Earlier today, news of a leak of thousands of BitMEX users emerged on Twitter, now BitMEX accounts reports a hack

Update: BitMEX Reassures Its Users That All Funds Are Safe, Claims Trolls Targeted Its Twitter Account
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Cryptocurrency derivatives BitMEX has swiftly addressed all the FUD surrounding the alleged "hack" that send shockwaves across the crypto community a few hours ago. The company claims that its Twitter account was targeted by "trolls" while reassuring users that all their funds are safe.

Earlier on Friday, an accident happened on the BitMEX crypto exchange when thousands of it users had their email addresses leaked.

BitMEX responded quickly, saying that they were working on the issue.

Binance’s CZ tweeted that all users who trade both on BitMEX and Binance should change their email addresses asap to prevent any troubles with their accounts on Binance.

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Binance provided a step-by-step guide for that. Other members of the community began offering advice on not using SMS 2FA and saying that the victims of the leak should change their passwords immediately to prevent hackers from stepping in.

Later, BitMEX tweeted that it had been hacked. However, a few minutes later, the tweet was removed.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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  • Alex Dovbnya
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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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