Security patch applied to heartbleed vulnerability

The Heartbleed Bug is a serious vulnerability in the popular OpenSSL cryptographic software library. This weakness allows stealing the information protected, under normal conditions, by the SSL/TLS encryption used to secure the Internet. SSL/TLS provides communication security and privacy over the Internet for applications such as web, email, instant messaging (IM) and some virtual private networks (VPNs).

The Heartbleed bug allows anyone on the Internet to read the memory of the systems protected by the vulnerable versions of the OpenSSL software. This compromises the secret keys used to identify the service providers and to encrypt the traffic, the names and passwords of the users and the actual content. This allows attackers to eavesdrop on communications, steal data directly from the services and users and to impersonate services and users.”

Bug was introduced to OpenSSL in December 2011 and has been out in the wild since OpenSSL release 1.0.1 on 14th of March 2012. OpenSSL 1.0.1g released on 7th of April 2014 fixes the bug.

You can read more info and the extent of effect this issue could cause on HeartBleed. Summary and vulnerability of the bug can be found on National Vulunerability Database website maintained by US govt.

Unocoin was exposed to such vulnerability as we use the same OpenSSL library to provide SSL security (that makes Unocoin run on HTTPS with a green address bar instead of HTTP). A security patch has been applied to our server on 8th April 2014.

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Unocoin BUY and SELL price calculator

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The latest addition to Unocoin has been a quick buying and selling price calculator to our home page. This work even if you have not logged in and renders very beautifully on the mobile phone as well.

Unocoin Campaigns – buy and sell BIG

Unocoin Campaigns are there to connect bitcoin buyers and sellers. These campaigns are meant for large bitcoin buy and sell orders else they can be bought and sold on normal buy/sell service directly for small orders. When ever a verified user approaches us to offer his order on a campaign, we will not accept the order directly but instead create a campaign for him which will be visible to registered users. When the counter party approaches us that they want to participate in a perticular campaign, we make sure they are a verified user as well and facilitate the trade. To put it in simple words, campaigning is like escrow service where the second party will never be known to the first party and is also unknown to us till they turn up themselves. To list a campaign, you wont be able to do it directly through your account and you need to call us and discuss with us about your plans. To participate in the campaign as well, you need to call us and inform the campaign id before you fund your unocoin wallet or our bank account. The good thing about campaigns is that, it runs on fixed prices. From the first party we accept to list the campain while agreeing to a fixed price as decided by the first party. We will add a small commission(that includes the transaction fee and service tax) and again offer that in campaign here for a fixed price. The price for a perticular campaign never gets changed. The phone numbers to call to get a campaign listed or to participate in the campaign are provided on the campaigns page that is accessible after the user logs in.

Merchendize section on Unocoin

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We just introduced Merchandize section on Unocoin.com where you will be able to buy bitcoin related articles and souvenirs using bitcoins in your Unocoin wallet. The first item available for now is 5X physical bitcoin by CoinMonk that holds 0.01 BTC each and will be shipped to you anywhere in India free of cost. This is a great and sweet way to introduce someone to bitcoins. The product comes with a bitcoin wallet (paper wallet) of its own along with introduction to bitcoin and its advantages in a leaflet nicely packaged that is surely giftable. Check it out. You can reach Merchandize section through the left menu after you login.

-Unocoin Team

Unocoin Launched

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Unocoin successfully got launched at the Global Bitcoin Conference 2013 held at Sheraton hotel in Bangalore in front of 150 deligates. As of now we have applied strict buying and selling limits on all accounts while we ease out any small remaining issues that could arise during real transaction processing that was not identified during our beta testing. We look forward to go full fledged in about 2 weeks time.