Ethereum Berlin Coinbase

“Consensus Errors” on Coinbase Following Ethereum’s Berlin Upgrade

Ethereum Berlin Coinbase

Ethereum’s latest network upgrade, Berlin, went live on 15 April, Thursday morning. However, a consensus issue appears to have disrupted a number of services that rely on a particular Ethereum software client, including exchange giant Coinbase and crypto hardware waller maker Ledger.

The bug only affects the Open Ethereum software client, which supports 12% of nodes on the Ethereum network. It did not affect nodes running Ethereum’s most used client, Go Ethereum.

In response to the consensus issue, Coinbase halted Ether (ETH) and ERC-20 token withdrawals from Coinbase and Coinbase Pro services. The exchange fully resolved the issue eleven hours later.

Crypto hardware wallet maker Ledger said its users’ ETH balance in the Ledger Live app might not update due to the Berlin upgrade issue. Additionally, the consensus issue also hit other crypto companies such as BitGo and Coin Metrics.

Ethereum’s Berlin upgrade is part of the network’s transformation towards Ethereum 2.0. The major focus is reducing gas fess and allowing new transaction types.

In a new blockchain validation model, Ethereum 2.0 will rely on people pooling their Ether together for a chance to validate new transactions. So far on the Ethereum 2.0 Beacon Chain, more than $8 billion in Ether has been deposited to the staking account.

Celsius Suffers Third-Party Data Breach

Following Berlin, Ethereum’s next network upgrade would be “London” in July, which plans to reduce the supply of Ether. Instead of a user sending a gas fee to a miner for a transaction to be added to blockchain, the network would set the fee itself and then burn it.

Meanwhile, Ether has surpassed $2,500 for the first time in the wake of the network’s Berlin upgrade. After reaching a new all-time high of $2,544, Ether is now trading at $2,488, up 0.5% over the last 24 hours.

On the other hand, crypto lending platform Celsius has discovered a data breach with one of its third-party service providers. Personal information of Celsius’ customers has been exposed.

According to Celsius, the hackers gained access to a “third-party email distribution system” Celsius uses. They used this information to send fraudulent emails and text messages to Celsius’ customers.

Some of the Celsius customers report phishing messages over SMS and email from hackers asking them to reveal the private keys to their funds.

In a blog post, Celsius CEO Alex Mashinsky stressed that all customers’ funds are safe. And the hackers have not breached any of the company’s internal systems. “We are conducting a full internal investigation to see if there was anything at all that could have been done to prevent this.”

Last year, a similar data leak hit Celsius’ competitor BlockFi, as well as the crypto wallet provider Ledger.

What is Ethermon?

You’ve probably heard of Pokemon right? Well have you ever imagined if Pokemon could one day be on the blockchain? Well let me tell you

Read More »