Critical bug found in Coinomi Wallet – February 27

Current Bitcoin Price: $3776 (as of 14:00 PM PST)

The cryptocurrency market has fallen by a clean 1.5% today. Bitcoin itself is only down 1%, while Ethereum and XRP are both down by about 3%. The fourth largest cryptocurrency by market cap, EOS, is up 1.5% today following a week of red.

Aside from EOS, Binance Coin is also up an impressive 3%, considering the remainder of the market’s sluggish performance.

Top Bitcoin & Crypto News Stories for 27th February 2018

Critical bug found in Coinomi Wallet

Coinomi is a cryptocurrency storage platform that allows you to store all your digital assets in one place. The very nature of cryptocurrencies makes this difficult with traditional wallets, and that’s why combination wallets like Coinomi are so popular.

A critical bug has been discovered in the Coinomi Wallet, following the theft of over $60 thousand from a Reddit user’s wallet. He writes that “they simply take your crypto-currency wallet’s passphrases/seeds and spell check it by sending it remotely to Google servers in clear plain text!”

Ledger under fire for device space

The Ledger Nano S is one of the most popular hardware wallets in the cryptocurrency space. Famed for its small size and fantastic ease of use, it appears to have one major flaw: a lack of storage space.

Ledger has come under fire for this, following news that the latest firmware for the wallet will make it impossible to install Bitcoin, Ethereum, and XRP apps concurrently on a single Ledger device.

EOS development slowing down considerably

Cryptocurrency projects tend to share their development with the public through a platform called GitHub. While this has the benefit of allowing followers to clearly see development, that same benefit turns into a downside when no development is taking place.

That’s exactly the case with EOS, for which development has slowed down considerably as judged by the recent releases (or lack thereof) on their GitHub page.