Crypto-Centric VC Fund Lures in Billionaire Investor Paul Tudor Jones and Rapper LL Cool J

Crypto-Centric VC Fund Lures in Billionaire Investor Paul Tudor Jones and Rapper LL Cool JThis week the former Digital Currency Group (DCG) Vice President of Investments, Travis Scher, announced a $72 million crypto-focused venture capital fund backed by the billionaire investor Paul Tudor Jones and hip-hop star LL Cool J. The crypto VC fund was invoked by Scher, the private equity veteran Glenn Hutchins, and his son James Hutchins […]
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Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect the Industry to Accelerate, Companies Are Hiring

Bitcoin Businesses on the Mend: Report Shows 57% of Crypto Execs Expect Industry to Accelerate, Companies Are HiringDigital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry […]

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Tim Draper’s Venture Studio to Triple-Down on Blockchain Projects With a $25M Fund

Tim Draper's Venture Studio to Triple-Down on Blockchain Projects With a $25M FundAt the LA Blockchain Summit, the blockchain and fintech venture studio Draper Goren Holm announced the launch of a $25 million blockchain fund called “Fund 1.” According to the announcement the money will be used for promising blockchain and fintech startups in Series A and seed investments. On October 6, 2020, the Los Angeles-based venture […]

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Crypto Management App Denies Being Hacked

London-based crypto-financial technology startup denied Sixgill’s claims that its database was stolen by hackers.

Plutus, a crypto finance app founded in 2015, denied social media reports that its database was compromised by a hacking attack launched by alleged threat actors.

On July 9, Israel-based threat intelligence firm, Sixgill, published an alert through their official Twitter account which stated that hackers have been sharing a database stolen from the crypto app since July 7, with no additional details revealed.

Official Plutus statement on the alleged cyber-incident

However, a representative from Plutus sent Cointelegraph the following statement:

“We have investigated several possible attack vectors and not found any evidence of hacking. We want to reassure our customers that there is no risk of losing either their fiat or crypto balances. Our services are non-custodial by design which removes the possibility of company hacks having any impact on customer assets. So far, we have not found any evidence to suggest a successful hacking attempt.”

According to the screenshot published by Sixgill, the alleged attackers reportedly uploaded the information of 1205 to an unidentified website, together with “bcrypt” passwords. These are related to the password used by the Plutus’ users to access their wallets through the site.

Recently, Plutus​ announced that it started offering rewards through its debit card when users shop Nike’s online store. Doing so unlocks up to 3% in crypto and 9% cash rewards for those purchases.

Cointelegraph reached out to Sixgill for additional details but received no response as of press time. This article will be updated, should a response come in.

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