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Savannah Fortis
Sep 22, 2023


NANSEN THIRD-PARTY VENDOR SUFFERS SECURITY BREACH, USER DATA AFFECTED

The crypto analytics provider says a security breach of a third-party vendor has
affected nearly 7% of users in the system who were promptly informed of the
incident.

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Prominent crypto and blockchain analytics company Nansen posted on social media
platform X (formerly Twitter) that one of its third-party vendors suffered a
security breach affecting 6.8% of its users.

According to Nansen, the breach gave hackers access to admin rights for an
account used to “provision customer access” to its platform.



Without directly naming the company affected, it said this vendor is “an
established company that is used by many Fortune 500 companies,” along with
other companies in the industry, to manage data. 


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The users affected by the breach reportedly had their email addresses exposed,
along with some password hashes, and some had their blockchain addresses
compromised.

Nansen said it has identified and informed those affected and asked all to
change their passwords. It also clarified that wallet funds were unaffected by
the event. 

Related: PayPal’s PYUSD struggles with early adoption — Nansen

Nansen is a prominent resource in the crypto space and provides on-chain
analytics about many of the industry’s major players. 

In a recent interview with Cointelegraph, Nansen CEO Alex Svanevik said that he
believes in the future, a protocol will exist that creates a balance between
blockchain transparency and user privacy and is compliant with regulators.

In May, the company was among many suffering the effects of the ongoing bear
market, laying off around 30% of its workforce.

Magazine: How to protect your crypto in a volatile market: Bitcoin OGs and
experts weigh in

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 * #Business
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Ezra Reguerra
Sep 22, 2023


BITCOIN MINING CAN HELP REDUCE UP TO 8% OF GLOBAL EMISSIONS: REPORT

The report highlighted that Bitcoin mining can convert wasted methane emissions
into less harmful emissions.

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A paper published by the Institute of Risk Management (IRM) concluded that
Bitcoin

BTC

$27,125

has the potential to be a catalyst for a global energy transition. 

IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen
published a report titled “Bitcoin and the Energy Transition: From Risk to
Opportunity.” The paper argued that while BTC was perceived as a risk because of
its energy consumption, it can also catalyze energy transition and lead to new
solutions for energy challenges worldwide.

Within the report, the authors also highlighted the important function of energy
and the increasing need for reliable, clean and more affordable energy sources.
Despite the criticisms of Bitcoin’s energy intensity, the study provided a more
balanced view of Bitcoin by showing the potential benefits BTC can bring to the
energy industry.

Amount of vented methane that can be used in Bitcoin mining. Source: IRM

According to the report, Bitcoin mining can reduce global emissions by up to 8%
by 2030. This can be done by converting the world’s wasted methane emissions
into less harmful emissions. The report cited a theoretical case saying that
using captured methane to power Bitcoin mining operations can reduce the amount
of methane vented into the atmosphere. 

Related: Bitcoin energy pivot achieves what ‘few industries can claim’ —
Bloomberg analyst

The paper also presented other opportunities for Bitcoin to contribute to the
energy sector. According to the report, Bitcoin can contribute to energy
efficiency through electricity grid management by using Bitcoin miners and
transferring heat from miners to greenhouses.

“We have shown that while Bitcoin is a consumer of electricity, this does not
translate to it being a high emitter of carbon dioxide and other atmospheric
pollutants. Bitcoin can be the catalyst to a cleaner, more energy-abundant
future for all,” the authors wrote.

Magazine: How to protect your crypto in a volatile market: Bitcoin OGs and
experts weigh in

Delivered every Monday
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 * #Bitcoin
 * #Mining
 * #Bitcoin Mining
 * #Environment



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