Cryptocurrency Platform Ethereum Raided by Hacker, $50 Million Stolen

Cryptocurrency Platform Ethereum Raided by Hacker, $50 Million Stolen

A hacker removed $50 million in Ether through the Decentralized Autonomous Organization, plunging investors as a panic, many argue that no theft has occurred.

Ether, the digital currency that has been billed as the ‘next’ bitcoin, plunged in value on Friday whenever a hacker exploited a software flaw in the Decentralized Autonomous Organization (DAO), delivering the equivalent of $50 million Ether into the ether and the cryptocurrency investment community into a panic.

If this sounds bewildering, we’ll try to explain.

Ether is the currency supported by the Ethereum blockchain, a platform designed to offer greater flexibility for decentralized peer-to-peer-traded currencies than jobs developed on the top of the bitcoin protocol. Ethereum permits the creation of ‘smart contracts,’ which enables a variety of business deals and not just currency transfers.

The DAO is an organization that is completely leaderless on the Ethereum platform and run entirely on computer code. It makes use of these smart contracts to create a venture money fund devoted to sponsoring new cryptocurrency tasks. All DAO choices are taken with a vote of its members who use digital tokens, purchased with Ether, to register their vote. This way, DAO had raised $162 million to help fund fledgling tasks.

Remain Calm

But DAO members watched in horror, in real-time, on Friday, as a hacker exposed a software flaw to siphon $50 million of th (more…)

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UFC Sold for an Eye-Gouging $4 Billion. The Fertittas have actually offered

UFC Sold for an Eye-Gouging $4 Billion. The Fertittas have actually offered UFC for $4 billion in a single of the biggest deals into the reputation for sport.

The Ultimate Fighting Championship, which Station Casinos’ Fertitta brothers took from the fringe organization as soon as described by John McCain as ‘human cockfighting,’ up to a sports that are global, is offered by the brothers for $4 billion.

The championships owner that is new US skill agency WME-IMG, which includes been backed within the deal by private equity groups Silver Lake and KKR, since well as the family investment workplace of Michael Dell, founder of Dell computers.

The Fertittas, who’ll retain passive minority stakes in the company, paid simply $2 million for the brand and its assets in 2001, at a low point for the championships.

Becoming a Heavyweight

UFC was dogged by accusations of brutality and vilified by politicians at that time, perhaps not least of that has been senior U.S. Senator John McCain from Arizona, who assisted persuade 36 states to ban ‘no-holds-barred fighting’ and spend per view companies to eliminate it from their schedules.

It ended up being banned in New York just before UFC 12 was due to start up, forcing organizers to find a venue that is new in Alabama 1xbet регистрация зеркало. New York just lifted that ban earlier this year.

But under the Fertittas’ stewardship, UFC gained a new degree of respectability as promoters worked with state athletics commissions to impose new rules that curbed some of (more…)

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Pennsylvania Casino Industry Posts Record Revenues

Pennsylvania Casino Industry Posts Record Revenues

Sands Bethlehem, which grabbed the lion’s share of Pennsylvania’s record table game haul, but missed out overall to its rival that is closest, Parx Casino.

Pennsylvania’s gambling enterprises reported the greatest leads to their nine-year history for the 12 months ending June 30, 2016. Based on the Pennsylvania Gaming Control Board, income from slots and table games topped $3.2 billion for the period, toppling the record that is previous $86 million. Year table games revenue alone was $839 million, up nearly 8 percent on last.

Sheldon Adelson’s Sands Bethlehem may be the biggest casino in the state and, needlessly to say, it took the lion’s share of table games income, some $228.1 million, up 12.4 percent year-on-year, and dwarfing its closest competitor, Parx Casino, which took $155 million.

Rogue Chip Smuggler

Sands achieved this impressive figure, incidentally, inspite of the revelation that among the casino’s dining table game supervisors was charged today with removing high-domination chips from the casino secreted in her bra.

Local girl Brandy Micheli-Cheatham, 44, ended up being spotted by eagle-eyed security staff stuffing six purple chips, each well worth $500, into her underclothing. She admitted to your crime after being apprehended by casino staff who had initially figured she had been just pleased to see them.

Despite all the exciting distractions down at the Sands, Adelson’s joint was not top of the list for (more…)

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UFC Sold for an Eye-Gouging $4 Billion. The Fertittas have actually offered

UFC Sold for an Eye-Gouging $4 Billion. The Fertittas have actually offered UFC for $4 billion in one single of the largest deals in the reputation for sport.

The Ultimate Fighting Championship, which Station Casinos’ Fertitta brothers took from a fringe organization when described by John McCain as ‘human cockfighting,’ to a global activities empire, has been sold by the brothers for $4 billion.

The championships new owner is US skill agency WME-IMG, that has been backed within the deal by private equity teams Silver Lake and KKR, because well as your family investment office of Michael Dell, founder of Dell computers.

The Fertittas, who can retain minority that is passive in the organization, paid just $2 million for the brand name and its assets in 2001, at a low point for the championships.

Being a Heavyweight

UFC was dogged by accusations of brutality and vilified by politicians at the time, maybe not least of that was senior U.S. Senator John McCain from Arizona, whom helped persuade 36 states to ban ‘no-holds-barred fighting’ and pay per view providers to eliminate it from their schedules.

It was banned in New York just before UFC 12 was due to start up, forcing organizers to find a new venue, in Alabama. New York just lifted that ban earlier this year.

But under the Fertittas’ stewardship, UFC gained a new degree of respectability as promoters worked with state athletics commissions to impose new rules that curbed a few of its previous excesses, allowing it to (more…)

Continue Reading
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