Class Action Lawsuit Against Ledger, Shopify for Data Breach (April 9, 2021)

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Good afternoon. Welcome to Friday Focus, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.    

Market Price as of April 9, 2021:

Bitcoin$58,066+3.44%
Ethereum$2,081.35+4.64%
BNB$418.14+10.76%
DOT$41.41+4.18%
ADA$1.23+4.24%
SLP$0.05+4.3%


Bitcoin closed April 8, 2021, at $58,066 per BTC. We’re down 1.2% in the last 7 days and up 100.5% since the year began. This is also 5.91% below the all-time high of $61,711, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $1,084,829,613,788 which is 53.64% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $2,024,063,889,535  +3.7%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

Christie’s

Christie’s to Auction Off Nine CryptoPunks NFTs

CryptoPunks is a series of 10,000 unique images each of them tied  to an NFT. These “punks” by the way, are selling ridiculous sums of money. Last Feb. 17, for example, one male “punk” was sold for $136,000. It was claimed for free in 2017 and the previous owner rejected multiple bids from $14 to $54,000 in the past, before finally getting sold.

January this year, a punk was also sold for $760,000 worth of ETH at that time. 

This one? $7.5 million: 

Today, legendary auction house Christie’s will be auctioning off 9 CryptoPunks. 

Ledger

Class action lawsuit filed against crypto wallet firm Ledger, Shopify over 2020 customer data breach

In the summer of 2020, there were news of phishing attacks against Ledger users, leading the firm to discover that it suffered a data breach in June 2020. The hardware wallets were not compromised, but due to the data leak, some users reported threat of home invasion and other scare tactics. Hackers and criminals knew their emails and physical addresses to issue threat of violence unless they give their crypto. 

According to The Block, the question for this case is who will be responsible for what. This is what’s written in the complaint:

“[b]y operating in the crypto-asset security space, Ledger places itself between user’s funds and would-be hackers. The anonymity of its customer list is a key and obvious element of the security that Ledger offers.”

The law firm handling the case also has this to say:

“The case is noteworthy because two very large and sophisticated companies handling sensitive information will need to explain why it took them so long to warn their customers about such an awful and highly damaging incident.”

Forbes

Forbes Sold an NFT of Its Winklevoss Issue Cover for $333,333

Forbes COO Randall Lane said in a statement:

“We like to say our covers of the world’s billionaires and next-generation entrepreneurs are the most-valuable real-estate in media for their ability to capture the people who are shaping our world in real time. As we watch the rapid rise of cryptocurrency and its mainstreaming across the world, we’re capturing a unique moment in time and also playing a role ourselves.”

Meitu

China’s Meitu Buys More Bitcoin

The HK-listed app developer said it purchased 175.6 BTC for $10 million. This brings the company’s total holdings to over 940 BTC. The company also owns 31,000 ETH as part of its foray into the blockchain industry.

According to Decrypt, Meitu said that the investment was done because they believe crypto has ample room to appreciate in value. The crypto could serve as an alternative to cash.

Coinbase Institutional previously announced that it handled the buying and storing of Meitu’s coins.

What else is happening

  • Binance CEO Changpeng Zhao Says ‘I Just Want to Keep Crypto’
  • Mati Greenspan warns SEC’s latest action could threaten future of all cryptocurrencies
  • Tesla’s landlord accepts crypto — Will Elon Musk pay rent in Bitcoin?
  • Government Ban on Bitcoin Would Be ‘Foolish’: SEC’s Hester Peirce

This article is published on BitPinas: Class Action Lawsuit Against Ledger, Shopify for Data Breach (April 9, 2021)

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]