Blockchain Bites: Chase Class Action, 30 Words for Censorship and a Bitcoin Bug

Chase Bank has settled a class action lawsuit brought by defendants who claim the J.P. Morgan subsidiary overcharged credit card fees for crypto purchases.

A new report shows that a million "Timelocked" bitcoin transactions are open to a hypothetical exploit, while CoinKite has unveiled a new way to recharge hardware wallets.

You're reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they're significant.

A subsidiary of JP Morgan Chase, the bank has agreed to settle a class-action lawsuit resulting from the bank's decision in 2018 to charge higher fees on Chase credit cards that had classified the crypto purchases as "Cash advances."

Timelock FaultIn a new report, pseudonymous engineer 0xb10c found more than a million of "Time-locked" bitcoin transactions made between September 2019 and March 2020 were not accurately enforced by the network, increasing the risk of a hypothetical form of attack in which miners could essentially steal bitcoin from other miners.

The bug affects 10% of time-locked transactions, or 2% of bitcoin transactions overall.

Crypto Long & ShortSeveral "Blue chip" crypto firms - including Coinbase, Genesis Capital and BitGo - have revealed plans to knit new connective systems for crypto trading and investment, and become prime brokers.

CoinDesk's Head of Research Noelle Acheson posits the move might "Solve part of the fragmentation of crypto markets by giving investors access to several exchanges via one account." In turn, this could lead to a new cycle of development and new market participants in the latest Crypto Long & Short newsletter.

'We Need 30 Different Words for Censorship'The latest episode of Let's Talk Bitcoin features Stephanie Murphy, Jonathan Mohan, Andreas M. Antonopoulos and Adam B. Levine to discuss censorship, fascism and what we learned from Edward Snowden.

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