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Ethereum Classic [ETC] Geth security alert: “unnecessary drama” resolved

Laira Rebecca



Ethereum Classic [ETC] Geth security alert: "unnecessary drama" resolved
Source: Pixabay

ETCDEV’s Founder and Technical Lead, Igor Artamonov recently announced an Ethereum Classic security alert. According to him, an unknown person took admin control of Ethereum Classic community organization with Classic Geth and removed all the other admins. The team had recommended all the users not to download Classic Geth until the issue was resolved.

However, within a couple of hours, ETCDEV’s program manager Darcy Reno mentioned that the whole issue was just mistake by Igor. His tweet read:

“There seems to be a mistake here – Igor had added an owner at their request which is correct and fine. That new owner seems to have reverted existing owners to members by some accident or misunderstanding. That user has said that they will revert the change today.”

Classic Geth is an Ethereum Classic repository on Github. The latest version of the project was released 2 weeks back. Geth is the main Ethereum Classic client,  a multipurpose command line tool that runs a full Ethereum Classic node. This is a Go language implementation of Ethereum Classic, supporting the original blockchain and its philosophy of immutability, censorship-resistance, and resilient distributed applications.

During the short investigation period by ETCDEV team, its Director, Anthony Lusardi tweeted:

“We are in contact with GitHub and working to regain control. The user who took ownership has not made any changes to any repositories as of the time of this tweet. However, as the note indicates, please proceed with caution.”

He also mentioned that no changes have been made to any repositories currently. Another ETC developer mentioned on Twitter that “the repositories require approved reviewers prior to PR merge and all build pipelines have been paused until the situation has been resolved. All clients are currently uneffected”.

Later, Anthony Lusardi tweeted:

“All is fine now. Issue and an incredible amount of unnecessary drama is resolved. Hooray!”

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Laira is a full-time writer at AMBCrypto. She is a Computer Science graduate and she has about 1-year experience in writing. Her enthusiasm and keen interest in developing her knowledge about blockchain and cryptocurrency led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.


Rabobank announces plans to drop its crypto-project

Sarvesh Kumar



Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,

“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.

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