Huobi supports Dominica’s Digital Identity Program to Promote Dominica’s Digital Economy

HuobiPubblicato 2023-03-08Pubblicato ultima volta 2023-03-08

Introduzione

Huobi announced a partnership with TRON and DMC Labs to support the launch of Dominica Digital Identity (DDID) program.

Huobi announced a partnership with TRON and DMC Labs to support the launch of Dominica Digital Identity (DDID) program.

As part of Huobi's broader global expansion, this partnership will promote the growth of Dominica’s metaverse and digital economy.

Huobi started to accept registrations for DDIDs in the Dominica Metaverse on its platform since early 2023. DDID holders can potentially enjoy benefits such as the right to open bank or financial investment accounts. It also allows DDID holders to register companies that provide digital services according to local laws and regulations. Additionally, DDIDs can be accepted for KYC verification on major trading platforms.

Dominica's DID initiative is part of TRON's latest partnership with Dominica. This initiative includes the establishment of the Dominica Metaverse, the operation of the DDID, and Dominica Coin (DMC) program.

Huobi's global advisory board member and Founder of TRON H.E. Justin Sun commented that DIDs are poised to be an integral part of the next wave in crypto and it will attract more countries and regions to establish their own digital identity systems in the future. Huobi will use this experience for more partnerships with other countries and regions.

"This digital identification project is a significant milestone for us as it marks the first Web 3.0 initiative since the passage of our Crypto Ordinance last year. We are excited about the prospect of blockchain innovation and look forward to continued collaboration with Tron to advance the digital economy for Dominica," said Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica.

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Coldcard Hardware Wallet Hacked: 594 Bitcoin Withdrawn in 25 Minutes

The Coldcard hardware wallet has been compromised, with hackers stealing approximately 594.5 Bitcoin (~$40 million) from 500 addresses in just 25 minutes. The root cause was a critical software bug, undetected for five years, which disabled the device's secure chip for generating true random numbers. This led to the creation of private keys based on predictable data like the processor's serial number, drastically reducing cryptographic security. The attackers exploited this offline by brute-forcing possible seed phrases, finding active addresses on the public ledger, and signing transactions. Initially, Coinkite (Coldcard's maker) claimed only older models were at risk but later admitted all devices running the compromised firmware were vulnerable. CEO Rodolphe Novak (NVK) apologized but ruled out financial compensation for affected users. To secure funds, owners must urgently update their firmware to specific safe versions, generate a completely new seed phrase on the updated device, and transfer all assets to new addresses created with that new seed. While a BIP-39 passphrase can help, it does not replace this migration process. Other Coinkite products like TAPSIGNER were not affected. This incident underscores that even specialized hardware requires rigorous, independent code audits, especially for cryptographic functions. It parallels past failures, like a 2006 OpenSSL bug in Debian, and raises questions about whether automated code analysis can ever fully replace human scrutiny in critical security areas.

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Coldcard Hardware Wallet Hacked: 594 Bitcoin Withdrawn in 25 Minutes

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