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Ransomware Gang Failed to Deploy an Attack Against 30 US Firms

Cybersecurity firm Symantec blocked a ransomware attack by a group known for demanding payment in Bitcoin (BTC) directed at 30 U.S.-based firms and Fortune 500 companies.The announcement published by the cybersecurity firm claims that the Evil Group, the malware gang behind the attacks, targeted the IT infrastructures of the firms. Still, the companies were alerted in time to prevent deployment of the ransomware. The group used the ransomware WastedLocker and managed to breach...

How Global Stablecoins Can Promote Financial Stability in the World

In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, the United States Federal Reserve and, most recently, from the Financial Stability Board all emphasize numerous risks under the banner of “financial stability.” The concern is with global stablecoins, which the FSB defines as having...

Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin (BTC).According to a June 15 announcement, Antalya Homes claims to have recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey.Per the company, the coronavirus pandemic forced the real estate industry to innovate. More precisely, Antalya Homes reacted by offering virtual home tours and adding support...

Driven by Financial Institutions, Stablecoin Acceptance Turns a Corner

Major financial institutions love certainty, and that will help the crypto community immensely. Let’s get down to basics: A stablecoin is a type of digital asset designed to solve the problem of the hypervolatility of cryptocurrencies.This year is an exciting time for stablecoins as interest among financial institutions picks up speed. For example, Wisdomtree, a regulated money manager, has made plans to launch a stablecoin as an extension of its business in exchange-traded...

Options Trading Is a Huge Step for the Crypto Derivatives Market

For those of us involved in the cryptocurrency space, we've gotten used to the fast-paced nature of this rapidly growing industry. New technology quickly becomes old, bright shiny projects lose their luster, and what started out as a few privacy advocates sending “magic internet money” to one another has mushroomed into a whole new asset class with a robust infrastructure established around it. Every new product, application or financial instrument that we add...

Investor Claims There’s No Way to Cash Out From Grayscale’s Bitcoin Trust

Qiao Wang — Investor, analyst and head of product at crypto market data firm Messari — raised major criticism about the way in which the Grayscale Bitcoin Trust, or GBTC, is set up.In a June 11 tweet, Wang cites Grayscale’s official website, according to which “Grayscale Bitcoin Trust does not currently operate a redemption program and may halt creations from time to time.” He suggested that the absence of a redemption mechanism can...

BitPay’s Prepaid Mastercard Launches in US to Make Crypto Accessible

Blockchain payments provider BitPay has launched a Mastercard prepaid card for crypto users in the United States. The BitPay Card enables customers to convert their cryptocurrency into fiat, which can then be loaded onto the card and spent anywhere Mastercard debit is accepted.Card holders can also withdraw U.S. dollars from ATMs and make online purchases. BitPay CEO Stephen Pair told Cointelegraph that the BitPay Card is specifically targeted at crypto holders, serving as...

Crypto Ransom Amounts Skyrocketed 200% in 2019

A study revealed by digital forensics firm, Crypsis Group, shows an actively growing trend in the ransoms demanded by ransomware attackers. Amounts sharply rose 200% from 2018 to 2019.According to the 2020 Incident Response and Data Breach Report, it’s no surprise that cybercriminals have claimed “exorbitant” crypto ransoms in the past three years. The firm pointed out that the median amount of funds demanded as ransom was $115,123.Attackers are getting sophisticatedCrypsis Group says...

Crypto and Fiat Currencies Are Worlds Apart, Here Are the Reasons Why

One of the core narratives of Bitcoin (BTC) since inception is the oft-stated goal of separating money and state. While this has certainly been a powerful creed in the currency’s early adoption by the crypto-anarchist and techno-libertarian communities, what does this actually mean? It’s quite simply a call for a neutral form of money.When stripped of the more political messaging, Bitcoin is fundamentally the introduction of a credibly neutral, global system of value...

Libra Exec Hirings Suggest Commitment to Anti-Crypto Regulations

Following a big-time update to its white paper in mid-April, the Libra Association has over the past couple of weeks made a string of striking new additions to its core governance team, including appointing Robert Werner as its general counsel and Stuart Levey as its CEO. Before joining the Libra Association, Werner served as the director of the Financial Crimes Enforcement Network, known as FinCEN, as well as holding a number of top...
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