To celebrate the $MAVIA token listing, Bybit crypto exchange has announced a massive airdrop extravaganza for all traders and users.
Mavia is a Web3 mobile strategy game developed by Skrice Studios, with backing by Binance Labs, Delphi Digital, KickStreaming and Mechanism Capital.
Airdrop details
Total prize pool: 1,250,000 MAVIA and 30,000 USDT
Event Period: Feb 5, 2024 — Feb 26, 2024, 10AM UTC
Perk 1: 1,200,000 MAVIA Airdrop
To participate in the MAVIA airdrop, just follow these steps:
Follow the Bybit@Bybit_Official and Mavia@MaviaGame X accounts.
Quote/Re-tweet this post and attach a screenshot of your player base.
Here’s an example of the screenshot:
Complete Identity Verification Lv. 1 on Bybit.
Deposit 100 USDT and trade MAVIA, or deposit at least $100 worth of MAVIA before the event ends.
Answer the questions in the form when you register.
30,000 participants will be randomly selected to win 40 MAVIA!
New to Bybit? Signing up for a Bybit account is quick and easy.
Perk 2: Invite New Users, Unlock 5 MAVIA Each!
Invite new users to join Bybit via this referral link, and participate in Perk 1. Both you and your qualified referee will receive 5 MAVIA. Rewards will be distributed on a first-come, first served basis.
[Affiliate Special] Perk 3: Invite New Users, Unlock 5 USDT Each
For Affiliates and new referees of Affiliates: If you invite new users to join Bybit via this referral link and participate in Perk 1, both you and your qualified referee will each receive 5 USDT. Rewards will be distributed on a first-come, first-served basis.
Terms and Conditions:
Perk 1
Institutional users or Market Makers are not eligible for this event.
Only deposits and trades made within the event period will be considered in the reward calculation.
Users will still be eligible for the event even if they withdraw USDT during the event.
Deposits made using a Sub Account will not be counted toward this event.
The rewards will be credited to their Bybit Funding Account, Spot Account or Unified Trading Account within 14 days after the event ends.
Perk 2
New users must sign up using a referral code or link from their referral during the event period to be eligible for this event.
Rewards from this event can be combined with the existing Referral Program. Both referrals and referees can enjoy all associated perks.
The rewards will be credited to their Spot Account within 14 days after the event ends.
Users who signed up for their Bybit accounts via Affiliate referral are not eligible for rewards from Perk 2.
Perk 3
This perk is only available for Affiliates and new referees of Affiliates.
Users who are eligible for Perk 3 are excluded from Perk 2.
General
Users must complete Identity Verification Lv.1 during the event period to participate in the event.
Bybit reserves the right to disqualify any participants who engage in dishonest or abusive activities during the event, including bulk-account registrations to farm additional bonuses and any other activities in connection with unlawful, fraudulent, or harmful purposes.
Bybit reserves the right to modify the terms of this event without notifying users in advance.
Bybit reserves the right of final interpretation of this event. If you have any questions, please contact our Customer Support.
New York, USA, 22.2.22 — NFT marketplace, Mintable, is sending 3 NFTs that were stolen in a recent OpenSea exploit, back to their rightful owners. They found the NFTs on the LooksRare marketplace, which has garnered its own reputation for over USD 10 billion in wash trading and stolen NFTs, while acquiring NFTs for Mintable’s most recent flash sale.
This report updates on what WEFUZZ, Coinbase Crypto Community Fund grant recipient, has been working on over the first part of their year-long Crypto development grant. This specifically covers their work on a decentralized, crowdsourced security audit and bug bounty solution.
By WEFUZZ, Coinbase Crypto Community Fund grant recipient
WEFUZZ implements a fully decentralized, crowdsourced security audit and bug bounty solution: a set of smart contracts that allow developers and companies to get their smart contracts, blockchains, websites, etc., audited by the auditors and hackers community. With this work, WEFUZZ aims to become the *Hacker DAO*.
Crowdsourcing is a sourcing model in which individuals or organizations obtain goods or services — including ideas, voting, micro-tasks etc., from a large, relatively open, and rapidly evolving group of participants. Companies like Uber, Gitcoin and GoJek already use this model. Crowdsourcing model offers improved costs, speed, quality, flexibility, scalability, and diversity.
The traditional crowdsourcing system consists mainly of three roles: requesters, workers (auditors in our case), and a centralized system. Requesters submit tasks to be completed through the crowdsourcing system. A set of auditors complete this task and submit solutions to the crowdsourcing system. Requesters will then select a proper solution (usually the first or the best one that solves the task) and reward the corresponding worker
This makes centralized systems vulnerable. User’s sensitive information (e.g. name, email address etc.,) and vulnerability reports are saved in the database of these centralized systems, which has the inherent risk of privacy disclosure and data loss. Centralized choke points are not only attack vectors for leaks and hacks, but also for outages.
Crowdsourcing companies are keen on maximizing their benefits and require requesters paying for services, which in turn increase user’s costs. Most crowdsourcing systems demand a 10–25% service fee.
All these issues add up to the already existing concerns of smart contract and multi-chains owners and developers (the audit requesters), freelance auditors’ and ethical hackers’ concerns. Some of these concerns are:
Ensuring their assets are safe from cyber theft, data hacks or any other risk that can result in a loss of funds and compromised data
Being able to get audits done in a cost-effective way — be it private or public security audits
Making sure the smart contracts are audited by multiple auditors
Hackers do not want to share sensitive personal data
Hackers and auditors and developers need complete transparency
WEFUZZ is a fully decentralized, crowdsourced audit and bug bounty platform aiming to be the Hacker DAO. WEFUZZ aims to provide reliability, fairness, security and low service fees by design.
The decentralized platform has many advantages such as higher user security, service availability, and lower costs. Smart contracts running on a chosen blockchain are used to perform the whole process of crowdsourcing tasks which contains posting audit and bounty campaigns, submitting audit and bug reports, bounty assignment, etc.
WEFUZZ solution offers numerous added benefits to users:
Data Security: Reports are encrypted with auditors’ and target developers’ public key, so that the bug reports only gets read by who it is intended for. Files are encrypted and stored on the decentralized network storage. No more data breaches, hacks, password leaks or any other risk affecting existing cloud based audit and bug bounty platforms.
Cost Effectiveness: Allowing smart contract developers, multi-chain developers, and companies to get audits performed in a cost-effective way directly by the auditors and hacker crowd on the WEFUZZ platform. This helps the developers and companies avoid huge fees and congestion issues affecting the traditional bug bounty platforms.
Flexible anonymity: Auditors and hackers can choose to remain anonymous while submitting reports, protecting their privacy, and still getting paid.
Communication Security: No centralized data storage, complete anonymity, no data transfers, no moderators and complete end-to-end encryption. All the data resides encrypted on the Solana blockchain and all the files reside on the IPFS blockchain.
Audit Requestors: Developers, companies or any individual can request audits or start a private/public bug bounty campaign.
Auditors: Auditors can be anyone from ethical hackers to audit firms who can perform the requested audits or participate in bug bounty campaigns.
Judges: Judges are community members who are either elected by the community or have been raised to the Judge category through reputation.
Currently, we are working on the conceptualization, technical architecture, and system design of WEFUZZ, besides building our MVP on Solana and Polygon blockchains, and testing the optimal chain for our project.
Please join our Discord and follow us on our Twitter and Medium to keep track of the progress. We are going to release the code and other tools we build as part of the research and development in this Github account.
Dubai, U.A.E., February 22nd, 2022 — MRHB DeFi, the world’s first ethics-based decentralized finance (DeFi) platform, is announcing the 22.2.22 launch of Sahal Wallet, a non-custodial cryptocurrency wallet that functions as a gateway to the entire MRHB ecosystem of ethical DeFi products.
Since launching the Coinbase Wallet browser extension as a standalone self-custody option in November, we’ve seen incredible adoption. Wallet extension makes it even easier to explore web3 by bringing the world of decentralized apps (dapps) to more devices. Today, we’re adding support for Ledger hardware wallets to Coinbase Wallet extension, providing an additional layer of security and greater peace of mind for our users.
Ledger is an industry leader in hardware wallets, with more than 4 million people putting their trust in Ledger to keep their crypto safe. To celebrate today’s launch, we have partnered with Ledger to release the Nano X Coinbase Edition, which is available for a limited time in Ledger’s online store.
Building the most user-friendly self-custody experience in crypto means giving our users more ways to keep their crypto secure while they access web3 and the world of crypto. And today’s launch is just the beginning — we will continue to build out support for more hardware wallets across all of our users’ devices.
Coinbase Wallet is your passport to collecting NFTs, participating in DeFi, joining a DAO, and so much more. As you start to live more of your life on the blockchain, it’s more important than ever to keep your assets safe.
Fortunately, there are many steps you can take to keep you and your assets safe as you explore web3. It all starts with your recovery phrase, backing it up in a secure location, and making sure to never share it with anyone. And as a reminder, Coinbase will never ask you for your recovery phrase.
Coinbase Wallet offers additional layers of security for our users. For users of Wallet browser extension, we recommend adding a password to keep your assets safe. And in the Coinbase Wallet mobile app, you can use biometrics or a PIN to secure your Wallet.
Today, we are adding support for Ledger hardware wallets in the Coinbase Wallet browser extension, introducing an additional security option for our users. Hardware wallets are physical devices that store the private keys to your crypto wallet offline. Because every transaction on the blockchain requires both a user’s public and private keys, a hardware wallet ensures that only the user who holds the physical device can complete a transaction.
Using a hardware wallet is a lot like using two factor authentication to secure a website login, but instead of a six digit code that is sent as an SMS or generated in an authenticator app, your hardware wallet is used to physically confirm transactions with the press of a button.
Whether you are a first-time hardware wallet user or already have a Ledger it is easy to use Coinbase Wallet to connect to the ever-growing world of NFTs, dapps, and DeFi. All you need to do is download the Coinbase Wallet browser extension, connect your Ledger to your computer, and follow the on-screen instructions.
While today’s launch brings support for Ledger devices to the Wallet extension, we have ambitious plans to support more types of hardware wallets not only in Coinbase Wallet extension, but with our mobile apps as well. We will soon also add support for users with multiple active wallet addresses on a single Ledger device to select which address they want to use with Coinbase Wallet.
We want to empower everyone to use dapps and access web3, and that requires building the easiest-to-use and most accessible self-custody wallet in the ecosystem. Today’s release solves another set of important user needs, including the ability to use a hardware wallet for enhanced security.
You can experience the latest enhancements for yourself by downloading Coinbase Wallet for free from the App Store on iOS, Google Play on Android, or the Chrome web store. Make sure to follow us on Twitter @CoinbaseWallet for the latest Wallet-related news.
Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase.com. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.
Ledger and the Ledger logo are registered trademarks of Ledger SAS. Purchase of the Ledger Nano X Coinbase Edition can be made on Ledger’s website and subject to Ledger Sales Terms and Conditions and Privacy Policy. Subject to availability.
At Coinbase, our number one priority is ensuring that we uphold our security commitments to our customers. On February 11, 2022, we received a report from a third-party researcher indicating that they had uncovered a flaw in Coinbase’s trading interface. We promptly mobilized our security incident response team to identify and patch the bug, and resolved the underlying system issue without any impact to customer funds.
This blog post provides a deeper look into the timeline of events surrounding the bug report, as well as an explanation of the bug itself and the steps we took to resolve it and ensure it cannot happen again.
(note, all events occurred on February 11, 2022, and all times are in PST)
10:16 AM: A member of the crypto community tweets that they have uncovered a serious flaw in the Coinbase trading interface, and requests contacts in the Coinbase Security team.
11:00 AM: Based on limited initial information provided by intermediaries, Coinbase Security declares an incident and mobilizes engineering resources to begin testing all trading interfaces to determine the validity of the alleged bug.
11:21 AM: The crypto researcher files a vulnerability report via HackerOne, Coinbase’s bug bounty platform, indicating that the flaw resides in a specific API for Retail Advanced Trading. Coinbase engineers also complete a review of all other user interfaces and Coinbase Exchange APIs and determine that they are not impacted.
11:42 AM: Coinbase engineers are able to reproduce the bug, and the Retail Advanced Trading platform is placed into cancel-only mode, disabling new trades.
4:01 PM: A patch is validated and released, resolving the incident.
The underlying cause of the bug was a missing logic validation check in a Retail Brokerage API endpoint, which allowed a user to submit trades to a specific order book using a mismatched source account. This API is only utilized by our Retail Advanced Trading platform, which is currently in limited beta release.
To give an example:
A user has an account with 100 SHIB, and a second account with 0 BTC.
The user submits a market order to the BTC-USD order book to sell 100 BTC, but manually edits their API request to specify their SHIB account as the source of funds.
Here, the validation service would check to determine whether the source account had a sufficient balance to complete the trade, but not whether the source account matched the proposed asset for submitting the trade.
As a result, a market order to sell 100 BTC on the BTC-USD order book would be entered on the Coinbase Exchange.
There were mitigating factors that would have limited the impact of this flaw had it been exploited at scale. For example, Coinbase Exchange has automatic price protection circuit breakers, and our trade surveillance team continuously monitors our markets for health and anomalous trading activity.
Thanks to the researcher who responsibly disclosed this issue, Coinbase was able to fix this bug in a matter of hours, and conclusively determine that it has never been maliciously exploited. We have also implemented additional checks to ensure that it cannot happen again.
Coinbase strongly supports independent security research, and when those researchers uncover serious issues, we want to ensure that they are rewarded accordingly. As a result, we are paying our largest-ever bug bounty for this finding: $250,000.
We welcome future submissions from this researcher and others via our HackerOne program: https://hackerone.com/coinbase.
MRHB DeFi follows the successful DEX (decentralized exchange) listing on Pancakeswap with its first CEX (centralized exchange) listing on LBank as it continues to bring DeFi opportunities to communities previously discouraged or excluded from the cryptoverse.
Coinbase is proud to announce the launch of the Travel Rule Universal Solution Technology (TRUST), an industry-driven solution designed to comply with a requirement known as the Travel Rule while protecting the security and privacy of our customers. TRUST is a platform that allows cryptocurrency exchanges to securely send information legally required by the Travel Rule. The solution is named TRUST because that’s what we seek to instill in our customers when they use our products and services.
The current U.S. TRUST membership includes the following: Anchorage, Avanti, BitGo, bitFlyer, Bittrex, BlockFi, Circle, Coinbase, Fidelity Digital Assetsˢᵐ, Gemini, Kraken, Paxos, Robinhood, Standard Custody & Trust, Symbridge, TradeStation, Zero Hash, and Zodia Custody. And we are soon expanding to other global jurisdictions.
Why is TRUST necessary?
The Travel Rule requires financial institutions to share certain basic information about their customers when sending funds over a certain amount to another financial institution. Custodial cryptocurrency exchanges (like other financial institutions) have to satisfy this rule, which was written before crypto even existed. To do this, a leading group of crypto exchanges came together to create a solution in the crypto space, while continuing to protect the security and privacy of our customers’ personal information. This unprecedented effort led to a jointly designed solution, TRUST, which we hope will soon become the industry standard for complying with these requirements.
What was the goal in designing the TRUST solution, and how was it achieved?
The core goal in designing TRUST was to achieve top-tier compliance with the Travel Rule, while fully honoring customers’ expectations over how their information is handled. To do this, important safeguards were incorporated as part of the TRUST solution:
No central store of personal data: We never centrally store sensitive customer information where it could be targeted by an attacker or misused by a third party. The required information is only directly sent from one TRUST member to another, through end-to-end encrypted channels, and the receiver is required to safeguard it.
Proof of address ownership: TRUST includes a mechanism for the receiving exchange to prove that it’s the owner of the receiving crypto address before customer information is sent — to ensure the right information is sent to the right exchange.
Core security & privacy standards: We require all TRUST members to meet core anti-money laundering, security, and privacy requirements before joining the solution. And we are partnering with Exiger, a global market leader in technology-enabled compliance and risk management solutions, to help us meet that bar, and to provide ongoing compliance support.
Now that TRUST has launched, what are the next steps?
The next step is adding new members, so that TRUST can provide comprehensive compliance across the crypto industry. The Travel Rule’s reach is expanding internationally, and so must the TRUST solution. TRUST is focused on expanding to many other jurisdictions this year.
The launch of TRUST resoundingly demonstrates that top-tier compliance can go hand-in-hand with a core industry value — robust protection of customer privacy and security.
By Shilpa Dhar, VP of Product, and Moheeth Alvi, Lead Product Manager, Payments
Introducing an instant, convenient way for your friends and family in Mexico to cash out the crypto you send them.
Initially, recipients in Mexico will be able to cash out crypto in local currency at over 37,000 locations across the country, or save the crypto they’ve received in their Coinbase account.
In 2020, immigrants and expats from around the world sent approximately $700 billion from the US to their family and friends back in their home countries, according to the World Bank. But many challenges exist with today’s traditional cross border payment offerings: sender fees can reach up to 6–7%, and recipients can only receive funds as cash in their local currency so they don’t have an option to save, grow, or protect their funds from losing purchasing power due to currency depreciation.
Coinbase has long presented a way to instantly send crypto (including stablecoins such as USDC) to family and friends anywhere in the world for free, and to allow recipients to invest in any of the 100+ cryptocurrencies that we support. Today, we’re introducing the ability for recipients in Mexico to cash out their crypto holdings in their local currency. The lower price of sending and cashing out crypto and flexibility in how to store funds will allow recipients to keep even more of their money.
Instantly Send Funds And Cash Out
Here’s how it works: customers today can already instantly send crypto to recipients in Mexico directly from their Coinbase app. Once sent, the recipient will receive a notification and can immediately view the crypto balance in their Coinbase account. From there, the recipient can choose to cash out or save the funds in their Coinbase account. If they choose to cash out any part of their balance, they can generate a redemption code from their Coinbase app that can be used to receive cash at 37,000 physical retail outlets and convenience stores located across Mexico. If they choose to keep their funds on Coinbase, they can simply hold the crypto asset they received or convert and invest their balance in any of the 100+ cryptocurrencies that Coinbase supports. That includes USDC, a stablecoin pegged to the US Dollar, which will help the recipient hedge against any devaluation of their local currency.
Free through March 31st
Coinbase customers in Mexico will be able to cash out their crypto using this new service free of charge through March 31, 2022. After that date, customers will be charged a nominal fee that’s still 25–50% cheaper than traditional cross border payment solutions.
We recognize this is a global issue. And while we’re starting in Mexico, over time we’ll consider other regions where customers face similar challenges.
Coinbase’s mission is to increase economic freedom around the world, and this new product is core to enabling that mission. We want to make it fast and easy for users to send crypto to anyone in the world, and allow recipients to participate in the cryptoeconomy. We’re just getting started.
By Nana Murugesan, VP, International and Business Development
Coinbase will adopt a go broad and go deep approach to scale globally in order to further its mission of bringing more economic freedom to each and every individual and business around the world. Leadership roles are now open across the globe to build our international presence.
Go Broad: launch foundational products that are a gateway to Web3 and crypto in every country*
Go Deep: launch localized infrastructure and public facing products with a full suite of services
I joined Coinbase around a month ago to lead business development and international operations teams to further our mission, strategy, and culture around the world. In this blog, I wanted to share our international strategy, how we are thinking about building our international operations, and the exciting leadership roles we just opened up around the world for those interested to join us!
By its very nature, crypto is global and decentralized, and as stated in our blog yesterday, we have an ambitious mission to increase economic freedom in the world that will rely on our ability to bring our products to customers globally. Crypto can have a seismic impact in driving toward a more equitable global economy. This is for a number of reasons, including, but not limited to, the fact that in new high growth markets, the barriers to entry into the traditional financial system may be beyond the reach of many citizens. For instance, traditional financial systems may require official identification or a credit history to access financial services and the security it provides. In larger, more diversified economies, we take these things for granted, but in many parts of the world, they’re unavailable to a majority of the population.
There are billions of people around the world who are underbanked or unbanked. According to the World Bank’s Global Financial Inclusion database, 1.7 billion adults are unbanked, and while the number of underbanked is harder to identify, it’s an issue that impacts almost every country. Yet two-thirds of those identified as unbanked own a mobile phone that could help them access financial services. These numbers are even worse for women, who are roughly 10 percent less likely than men to have access to financial services. Where women are not financially empowered, the trend lines are also more profoundly negative, correlated to a less established civil society and the seeds of undemocratic norms. These are precisely the types of challenges that crypto is uniquely equipped to solve.
Economic freedom is unevenly distributed around the world. Crypto enables economic freedom. At Coinbase, we believe everyone deserves access to financial services that can empower them to create a better life for themselves and their families, regardless of their location, gender or socioeconomic status.
Going global is complicated and this is compounded by rapidly evolving regulatory international frameworks for crypto. Our approach globally will be consistent with our approach in the United States: we will work with governments and regulators in different markets, and will always aim to be the most trusted and compliant crypto company in any market. As our co-founder & CEO Brian Armstrong has said, “clear rules of the road allow for technological innovation and investment and give the public and policy makers confidence that these markets are fair.” That is why, in Brian’s words, “we see [regulation] as a business enabler.” We will take that perspective in our global expansion.
A key first step of our strategy is to hire experienced regional and country leaders across the globe. We are now kicking off an extensive global expansion strategy, with hiring and investment plans to enter these markets which will ultimately allow Coinbase to serve customers more locally:
Americas — Latin America, Canada
EMEA — Europe, Middle East and North Africa, Sub-Saharan Africa
APAC — South Asia, Southeast Asia and Oceania, North and East Asia
[Link to newly opened Regional Managing Directors, Country Directors, and other Global & Regional Leadership roles. And, keep an eye out for more roles opening in the coming months]
With these leaders in place, we will develop and execute on in-market plans to (1) launch our products, (2) establish our presence with top local talent, (3) grow our customer base, (4) build our business, and (5) collaborate closely with our external constituents [including regulators, financial institutions and partners]. In parallel, we will explore new market entry through acquisitions.
To accelerate the growth of the cryptoeconomy globally, Coinbase Ventures will double down on regional investments, adding to our portfolio of platforms such as CoinSwitch Kuber and CoinDCX in India, Bitso in Latin America, and Rain in the Middle East.
We understand that a one-size-fits-all approach won’t work as each market is unique, with its own set of opportunities, challenges, political dynamics, and cultural norms. To address this, we plan to take a go broad and go deep approach.
Coinbase’s mission is to increase economic freedom in the world, and we take this commitment seriously. The first tenet of our global strategy is to get crypto into the hands of any person who wants it, regardless of their financial status. This means we may enter international markets at scale with our decentralized and non-custodial products such as Coinbase Wallet. This allows us to offer local communities a light-weight, user-controlled, simple and secure interaction with the crypto economy and to enable fun experiences such as NFT drops from local creators. As regulatory frameworks and markets develop, we will look to go deep, as elaborated below.
In those countries that have clearly defined crypto regulation and there is a clear path for us to offer services in a way that is fully compliant with local laws and with a reasonable content moderation philosophy, we will plan to provide access to a full suite tailored to the local market. For our retail customers, this includes our custodial, full-fiat trading products, such as our main Coinbase App, and products that host user generated content (or include social features) such as our upcoming Coinbase NFT marketplace. For our institutional customers, we will plan to offer a full suite of advanced prime brokerage services, including custody and private client support.
I am excited to embark on this journey, and I look forward to providing updates along the way. At Coinbase we’re building an open financial system for the world and we’re always looking for top talent ready to do the best work of their careers to help us get there. If you think this could be you, we’re hiring!
