Ethereum News Daily TheBitTimes.com

Binance’s new self-custodial crypto wallet will be tied to the exchange’s infrastructure, and users won’t be able to export private keys. Cryptocurrency exchange Binance has become the latest company to roll out its non-custodial crypto wallet as its market volume share has weakened in the last three months. In a press release on Nov. 8, Binance said it has developed its solution dubbed “Web3 Wallet” in partnership with the product and engineering team at Trust Wallet. It is worth noting that Binance acquired this cryptocurrency wallet in July 2018. Shortly after the news on the solution broke, Trust Wallet’s native token TWT plunged by more than 10% down to $1.45, according to CoinGecko. TWT price | Source: CoinGecko Although Trust Wallet helped Binance develop the wallet , control over Web3 Wallet’s Features , such as operations and services, will be autonomously controlled by the exchange only. According to the press release, Bin...

Hackers have reportedly exploited a weakness in popular crypto wallet tool Libbitcoin Explorer that has allowed them to steal funds from multiple blockchains. According to software security expert Distrust, which led the investigation, the ‘Milk Sad’ issue (so named because those were the first two words in the seed phrase of the broken key generation process), suffers from a “flawed seed subcommand for the generation of new wallet private key entropy.” As a result, it produces insecure output. “Think of this as securing your online bank account with a password manager that creates a long random password, but it often creates the same passwords for every user. Malicious people have figured this out and drained funds on any account they can find,” investigators say. Distrust warns that the effective security is reduced to a point where a powerful gaming PC can brute-force the seeds in less than one day . Researchers didn’t confirm exactly which wallet s had been affected by the Lib...