Canadian Teen Charged for $50 Million Cryptocurrency Theft
Canadian authorities indict eighteen-year-old Sami Bensaki on four criminal charges of SIM swap fraud, with the help of which $ 50 million was stolen in the form of digital assets.
According to the prosecutor’s office, the young Montreal hacker was part of a gang that robbed Canadian and American cryptocurrency owners. All thefts in the territory of the two countries were committed in the spring of 2018, and most of the victims were participants in the New York conference Consensus, where the fraudsters allegedly chose targets..
The victims were not only investors, but also leading developers, managers of crypto projects.
The gang reportedly tricked the services of mobile operators to translate the victims’ phone numbers onto their own SIM cards. This allowed attackers to bypass most authentication and password recovery mechanisms that rely on confirmation through a code in a text message or an incoming number..
Sami Bensaki was arrested in November 2019, but in December he was released on bail of $ 153,000, banning access to any devices with Internet access, as well as any form of ownership and exchange of cryptocurrencies..
Around the same time, the Australian police also carried out a successful operation to detain drug couriers from whom they confiscated cryptocurrency for a record for a strange amount of $ 1 million.
Facebook is exploring the prospects for changing the concept of the Libra cryptocurrency project and the possibility of supporting new stablecoins, including those issued by central banks.
According to Bloomberg, Libra Association consortium discusses the issue of modernizing its cryptocurrency and transforming the project into a payment network that will work with various digital assets.
The organization plans to diversify its activities and in parallel with the initially announced stablecoin, launch new ones, pegged to only one specific currency, for example, the US dollar, euro or pound sterling. Since several central banks have already announced plans to launch digital counterparts national currencies, the association is also considering the possibility of their support and storage in the Calibra wallet.
Facebook intends to create a global payment network that will allow any of its 1.7 billion users to transfer funds quickly and easily. However, the scale and pegging of the Libra stablecoin to the currency basket stunned regulators, who began to put pressure on the team and slow down the development of products in every possible way..
Because most countries refused to accept the project in its current form, the consortium began to look for points of contact with governments, part which ready to go compromise on mutually beneficial terms.
A simple explanation of blockchain (and why it is relevant to lawyers)
BCL nomination winner «Digital law» competition «The best by right» PLATFORMA became bankruptcy trustee Alexey Leonov for his contribution to the development of CFA (bankruptcy case of citizen Tsarkov).
This year, the expert community of digital economy lawyers as part of the annual competition for practicing lawyers «The best by right» organized the first nomination in the field of digital law in Russia. The BCL nomination dealt with litigation related to the digital economy, cryptocurrency and blockchain projects.
According to the managing partner of the law firm «Effective business resources» Alexandra Zhuravleva, a dispute related to the bankruptcy of citizen Tsarkov, helped to determine the legal status of cryptocurrency in Russia, and most importantly, to outline the vector of legislative regulation in this area. We began to form judicial practice, since Alexei Leonov managed to achieve the inclusion of virtual currency in the bankruptcy estate of the debtor and the recognition of this asset as other property.
Alexey Leonov himself hopes that his work will help society move towards «a bright digital future». However, he adds that there is a lot of work ahead to analyze the further practice of using virtual assets in bankruptcy procedures..
Program founders BCL also announced that the winner of the competition will become one of the new teachers of the next course of the course, which will begin on April 8 in the State Duma.
Lawyers really have to do a lot of work in order to form the correct legal basis for the regulation of the cryptoindustry, since the authorities sometimes drastic measures are taken to control digital assets. We previously reported that in Russian cashing of cryptocurrencies recognized as a way of money laundering.
MUST HAVE Apps for Crypto Traders (Shown on Galaxy S9 Plus)
Malwarebytes cybersecurity experts report that cryptocurrency price monitoring app for macOS was actually a Trojan in disguise.
Over the weekend, a software developer and community member with the nickname 1vladimir discovered a suspicious feature in the CoinTicker monitoring service for changes in coin rates right on your Mac dashboard. After studying in detail, he found a script that automatically downloads two backdoors allowing a developer to remotely access and control a user's connected device.
The deliberately added app defect ran in the background and was well disguised as a standard product feature. The developer community confirmed the threat and immediately initiated the removal of the Github repository from which the malware was downloading backdoors. Some believe that CoinTicker was originally designed as a wrapper for the distribution of a Trojan.
So far, the number of infected devices is unknown, but the episode once again reminds of the tricks that hackers go to to gain access to the funds of crypto investors. Experts note that now more and more malware for hidden mining is being integrated into functional products and mobile wallets, so they recommend using proven applications and services..
To help virtual currency holders protect their savings, Japanese tech giant Sony announced the creation of a contactless hardware wallet for cryptocurrencies based on IC smart card technology.
Sberbank has suspended work on projects related to cryptocurrency due to the negative attitude of the Bank of Russia to virtual assets.
This was stated at a press conference by the vice-president of the bank, Andrey Shemetov, as reports TASS.
According to him, Sberbank was awaiting relevant legislation that would allow commercial transactions with cryptocurrency. Since the financial regulator is currently negative about this, then decided to pause cryptocurrency plans.
Andrey Shemetov did not specify exactly what plans were in question. IN during the boom period of 2017, the Swiss division of the bank planned to offer customers to open crypto accounts.
Recently, Sberbank also sent a client a request for data on income from cryptocurrencies, used mining equipment and wallet address..
Earlier, we also reported that the State Duma postponed consideration of the bill on the CFA due to FATF requirements.
Turkey’s new economic development plan contains a number of points related to the blockchain, including the development of a central bank digital currency based on this technology..
The official document presented this week describes the main directions of the country’s economy until 2023. In addition to the basis for the national digital currency, the technology is planned to be integrated into the transport and customs sphere. For this, the authorities will create the necessary legal and technological infrastructure..
Blockchain, combined with artificial intelligence and IoT devices, will also be used to improve social services. How it is not yet known exactly.
Additionally, the government describes a number of initiatives that are not directly related to cryptocurrency and distributed ledger, but will have an impact on the activities of companies associated with them. Among them, the creation of a regulated «sandboxes» and an association specializing in electronic money.
Turkish officials began discussing the idea of launching a central bank digital currency in early 2018, but there has been no previous official confirmation of such plans.. While some government officials are still skeptical about cryptocurrencies in general, a recent Statistica poll showed that around 20% of Turkey’s population had already invested in virtual currency in 2019..
Such development plans are already becoming common practice. According to a recent IMF study, many central banks are considering introducing some form of digital currency to partially replace cash and improve the efficiency of the financial system..
Answering Your Questions About Russia. Jobs, Best Cities, Travel and Safety
The Federal Customs Service plans to impose a duty on all foreign online purchases.
Now, without additional payments, you can order goods with a total value of up to €1000 and with a total weight of less than 31 kg. Officials propose to reduce the limit amount to 200 euros by 2020. Purchases exceeding this limit will be subject to a 30% duty, and for all other purchases the rate will be 20%. Additionally, it is planned to enter a combined rate, for example, 1 euro per 1 kg of weight of goods.
FCS claims that the innovation will increase budget revenues by 25 billion rubles, as well as increase the level of competitiveness of national online stores. The changes will consist of several stages, gradually reducing the threshold value of duty-free purchases to zero. The norms have already been agreed in the EAEU, and from next year the maximum amount will be reduced to €500.
Recall that the Russian customs confirmed the ban on the import of mining equipment without the permission of the FSB.
How China’s New Cryptocurrency Could Challenge Facebook’s Libra | WSJ
The digital yuan can be transferred without the Internet, an account and even without the knowledge of the bank, almost like cash.
Changchun Mu, the new head of the People’s Bank of China’s digital currency division, spoke about some of the technical features of the future currency and said that in this regard, it will surpass Facebook’s cryptocurrency. Libra.
According to him, the Internet, a mobile network or a special account will not be needed to transfer the digital yuan. Operations can be performed by physical contact of two phones on which a suitable wallet is installed. Presumably we are talking about near-field communication technology (NFC).
In addition, you will not need a bank account to work with digital currency, so the traditional financial system will not be able to control transactions, which will allow users to maintain confidentiality..
However, high-tech yuan will only be distributed through commercial banks, which will have to buy them. at Central Bank of China at the rate of 1: 1 to fiat. To open a wallet, you will also need to contact a financial institution or commercial organization..
An incentive to accelerate development digital yuan has become the official Facebook announcement of work on Libra, but the CEO of Huawei believes that the Celestial Empire will launch its project before the social network.
Jp morgan chase, one of the largest banks in the world, has developed its own cryptocurrency JPM Coin and is preparing for global tests in real conditions.
The trial transactions should begin in a few months. JPM Coin will be used for part of international settlements between large companies and institutional institutions. The network will become an alternative to traditional bank transfers, such as SWIFT, and will also reduce the transaction time from a few days to a couple of seconds..
The coin is also planned to be used for instant settlement for securities issues, replacing funds in the internal accounts of separate divisions of corporations that are clients of JP Morgan and potentially for mobile payments.
The new settlement method will be introduced gradually, starting with a small volume of JPM Coin. According to representatives of the financial giant, the use of cryptocurrency, even exclusively in an institutional environment, will not create restrictions, since most corporations and banks are their clients..
Facebook is also secretly developing its own cryptocurrency. and recently began to rapidly expand the staff of its blockchain division.
💹 Why I think this Asset will go higher over Time.
For the first time in China, an official transaction for the sale of real estate for bitcoins was held.
Zhang Keke, Marketing Director of NEO Global Development, wrote about this on Twitter. The report said that the first sale of real estate in Shenzhen was successfully completed, in which the seller accepted payment in bitcoins, equivalent to 5.5 million yuan. In addition, the whole procedure was carried out using the NEO platform, on which a smart contract was created, a digital identifier was assigned, and the system independently made the transfer of digital assets..
Attached to the message is a photograph of the receipt confirming the transaction. The amount of the payment was 102.9 MTC. Zhang Keke Hopes This Will Become The Start Of Cryptocurrency Usage In The Coming Era «smart economy».
Recall that KAMAZ believes that the future belongs to blockchain and smart contracts.
Get Paid For Watching Ads: Brave Browser Opt-In Walkthrough [Basic Attention Token Tutorial]
Brave web browser has launched an option that will allow users to receive rewards for viewing ads in the form of Basic Attention Token (BAT) cryptocurrency.
Initially, the blockchain browser blocks ads and trackers, but when Brave Ads is connected, users will be able to earn 70% of ad revenue. The reward will be paid to the crypto wallet only in the form of the native token of the project.
Brave does not communicate information about user behavior, but independently selects the appropriate ads to display. The innovation will allow companies coordinate with people interested in advertising, reducing costs and risks associated with privacy, security and fraud.
By default, the received BAT will be automatically distributed to subscriptions of frequently visited sites and payment for additional services, but if the function is disabled, the funds will start accumulating in the wallet. So far, the accrued tokens cannot be withdrawn due to the lack of a KYC solution, which is already being developed. After the introduction of the user identification system, they will be able to freely dispose of BAT without fear of fraud. Withdrawals can be made through partners of the company, such as Uphold and Coinbase.
In two years, the Brave web browser has become popular and is installed by default in HTC smartphones, including the Exodus 1 model. At the time of this writing, Basic Attention Token traded at $ 0.413 and ranks 22nd in the cryptocurrency rating with a total capitalization of $ 518.3 million.
Circle USD Coin Releases public Attestation amid Tether (USDT) FUD
Circle Internet Financial Ltd, based on Goldman Sachs American FinTech, received a $ 110 million capitalization, making it the highest-funded US startup.
Circle Internet Financial Ltd is backed by Chinese giant Bitmain, which invested $ 110 million in another round, bringing the startup to a total funding level of $ 3 billion. It is known that IDG Capital Partners, which is a co-investor of both companies, took part in the round..
In addition, during the round, it was announced the start of a joint work with Bitmain to create a dollar-backed cryptocurrency USD Coin (USDC), which would be based on government regulation through the national currency. To reduce volatility and ensure stability, Circle customers will be asked to hold $ 1 for each USDC coin.
Circle CEO Jeremy Alley claims the blockchain dollar, — a solution that opens up amazing opportunities for the national currency.
Earlier we wrote about how Circle were able to become the owners of the famous Poloniex exchange.