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Bitcoin Developer James Lopp Has a Warning for Trezor Wallet Owners After One User's Alleged Loss of Funds

  • Alex Dovbnya
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    James Lopp urges Trezor wallet owners to bookmark the company’s website after one user allegedly falls victim to typosquatting

Bitcoin Developer James Lopp Has a Warning for Trezor Wallet Owners After One User's Alleged Loss of Funds
Cover image via news.u.today

Cypherpunk and Bitcoin developer Jameson Lopp has taken Twitter to warn his followers about the practice of typosquatting (when bad actors make barely noticeable changes in the domains of popular websites). In such a way, they want to lure in unsuspecting victims.

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His “security notice” came on the heels of a post on r/Bitcoin whose author allegedly lost his Bitcoin funds, asking whether his hardware wallet was hacked. One Redditor explained that he was most likely redirected to a fake Trezor website due to a typo.
Bitcoin Developer James Lopp Has a Warning for Trezor Wallet Owners After One User's Alleged Loss of Funds
Lopp encourages Trezor owners to bookmark trezor.io instead of manually typing the site’s name when there is a need to access your funds.

However, the OP claims that he visited a genuine website. Hence, it appears that typosquatting wasn’t the problem, but it’s unclear whether his story is legitimate.

What’s your take on this story? Feel free to leave a comment!

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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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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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