GCR

To get the latest alerts on China and Asia Cryptocurrency happenings (crypto news), subscribe to our newsletter below. It’ll be a quick, hassle-free update to your inbox daily.

EOS vulnerabilities identified by Chinese company; South Korea allowing ICOs; Bithumb lower withdrawal limit for anonymous accounts

Top News

– China’s largest internet security company yesterday announced that the upcoming EOS mainnet launch scheduled for June 2, 2018 could potentially be delayed due to a series of high-risk security vulnerabilities that could cripple the entire EOS network. These vulnerabilities would enable remote attacks on all EOS nodes, Qihoo 360 claimed. EOS have not responded directly but local news Jinse noted that EOS asked 360 not to report the vulnerability, claimed that the vulnerabilities have been fixed on the same day (by around 2:00 am EST today) http://bit.ly/2ITiWj9 
Original weibo article reporting the issue here, http://bit.ly/2IWDibl

– Nearly eight months after a blanket ban on initial coin offerings (ICOs), South Korea’s National Assembly has reportedly made an official recommendation to allow domestic ICOs in the country http://bit.ly/2IRroiR

– One of South Korea’s largest cryptocurrency exchanges, Bithumb, has reportedly announced that it will gradually lower the withdrawal limit for any accounts that have not been converted to real-name ones, citing risks of financial crimes. http://bit.ly/2IT5tIg

– Huobi Blockchain Industry Weekly: Last week (May 21–27), average number of bitcoin and ethereum transactions were down, bitcoin miner’s fees and ethereum miner’s fees have fallen sharply. TRON had the highest git commits; DateCoin had the highest number of Telegram following. http://bit.ly/2IUfl4E

Coin and Exchange News

– Singapore-headquartered startup Uppsala Foundation has raised US$8 million in its initial coin offering (ICO) for the development of its fraud prevention blockchain, Sentinel Protocol. The public token sale reached its sales target under four minutes, the company said. http://bit.ly/2IV3N0Y

– A Singapore-based company called D1 Mint will buy $20 million worth of diamonds to support its new cryptocurrency coin. http://bit.ly/2ISkFFI

– Zilliqa, a public blockchain, is designing to bring the theory of sharding into action. http://bit.ly/2LDB5PW

– Binance Lists Theta Token. http://bit.ly/2LHK2HI

– On May 31, 2018, the TRON Foundation will release its mainnet, Odyssey 2.0 http://bit.ly/2IWOMLS

Business News

– Per one China company’s security team, 80% of digital currency wallets have hidden security problems where 38% of the core code is not reinforced. http://bit.ly/2IQMpua

– Baidu Encyclopedia will record entry on “blockchain”. http://bit.ly/2LFTAD7

Macro and Regulation Watch

– A Chinese government analysis has concluded the average lifespan of a blockchain project is 1.22 years. http://bit.ly/2LDUqR7

– Chinese authorities continue to standardize the blockchain sector, aiming to form National Blockchain Standardization Committee by the end of 2018. http://bit.ly/2ITDJ6t