Samsung's Galaxy S10 Appears to Include 'Blockchain Tutorials' for Its Crypto Key Storage

South Korean tech giant Samsung has recently hosted its Unpacked event in San Francisco, introducing the world to its new flagship model Galaxy S10, which appears to include blockchain tutorials for its built-in crypto key storage solution.

The cryptocurrency community has been expecting the flagship model to feature a built-in cryptocurrency wallet, as leaked images appeared to show an image of it, and made it seem it would support Ethereum, and presumably ERC-20 tokens. The tech giant had late last year filed a trademark application for a cryptocurrency wallet software.

During Unpacked, however, no mention of a built-in cryptocurrency wallet was made. In a press release posted soon after, Samsung noted it includes a line on housing private keys for “blockchain-enabled” mobile services. The document reads:

Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.

While Samsung stopped short of calling it a cryptocurrency wallet, the company made it clear users would be able to store their private keys securely using the smartphone’s hardware. This, however, didn’t imply it would have a friendly user interface for users to interact with blockchain applications, or send and receive cryptocurrency.

In a recently shared video Twitter user Heslin Kim revealed the Galaxy S10 does include a built-in cryptocurrency wallet, along with what appear to be “blockchain tutorials” guiding users through it.

Various cryptocurrency users believe Samsung adding the crypto key storage is bullish, as it’ll expose millions of users to the cryptocurrency space. The smartphone’s crypto key storage appears to let users store both bitcoin and ether.

Why the tech giant stopped short of calling it a cryptocurrency wallet is unclear, although some believe it was trying not to scare away its core audience.

This, as the crypto market’s over 85% decline from 2017 highs, as well as recent events involving millions getting lost because QuadrigaCX’s CEO passed away, could be a turn off for various Samsung users.

Crypto Scammers Responsible for $24 Million in Bitcoin Theft Through First Half of 2020: Report

Michael LaVere
  • New Whale Alert report shows crypto scammers have raked in $24 million in bitcoin through the first six months of 2020.
  • One scammer leveraged YouTube advertising to steal $130k in BTC per day. 

Crypto monitoring service Whale Alert has published a report showing that crypto scammers are responsible for $24 million in bitcoin theft through the first half of the year, including the exploitation of YouTube advertising. 

According to the report “Chasing Crypto Criminals” published July 10, cyber-thieves are finding easy prey in the form of bitcoin and other crypto-asset investors. Whale Alert summarized its exhaustive reviews of hundreds of websites and thousands of reports of theft as “crypto crime pays. A lot.” 

Whale Alert claimed there was little risk involved for crypto-based criminals, despite the massive economic impact being imposed on victims. The report confirmed at least $38 million in bitcoin alone being stolen via scams over the past four years, excluding the use of Ponzi schemes. 

The report reads, 

Some of the most successful scams made over $130,000 in a single day with nothing more than a one page website, a bitcoin address and a decent amount of YouTube advertising.

Whale Alert outlined another scam which brought in $1.5 million over six months through promoting a fake cryptocurrency exchange. The report claims the advertisement took victims to an “amateurish website riddled with spelling errors,” before tricking users into depositing their funds. 

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