Čvn 03

Industry Report: PayPal Gets Into the Bitcoin Game

Source: bitcoin

Bitcoin Industry Report

Paypal says “yes” to digital currency; content creators may find themselves getting rich; and Russia is the world’s latest cyber-attack victim. Want to catch up on your digital currency news? Take a look below and see what you’ve been missing.

Also read: Industry Report: The USPS Does Digital Currency

PAYPAL

PayPal has filed a patent for a new device that will allow for the acceptance of digital currency.

The e-payment network has long hinted at a possible relationship with bitcoin, but several weren’t sure if purchasing bitcoins through PayPal’s platform was as far as the relationship would go. Happily, this doesn’t seem to be the case.

The patent describes the application states:

“The module includes a chassis which has a modular device connector. A payment database in the chassis stores funding source information and security information.”

The patent also describes a payment card possessing a digital currency wallet, virtual memory and instructions designed to aid users in configuring their wallets with respective machines and technology, and hardware processors linked to the card.

SATOSHIPAY

Micro-transactions conglomerate SatoshiPay is releasing a new API, which can be integrated into several different websites and online platforms.

Its purpose – to give content creators a new opportunity to receive funds through nanopayments from those who visit their pages.

It’s not always easy finding revenue in the field of content creation, and SatoshiPay is aiming to change that.

CEO Meinhard Benn explained:

“We have been delighted by the response we’ve received from the developer community, and we’re excited to announce the API. Our mission is to enable developers to use SatoshiPay for any kind of digital product or service they want to implement nanopayments into. We believe this will enable us to significantly scale our reach as developers can use our system in any way they can dream. We will continue to add features frequently to support our growing ecosystems of developers and partners.”

RUSSIAN BANKS

What would digital currency news be without a hacking story? Six Russian banks (including international mega-bank Metropol), are now short nearly $30 million USD due to the efforts of what some are labeling a large hacker collective, and thus far, about 14 separate arrests have been made.

The string of attacks allegedly took place between March and April 2016 and occurred through the distribution of malware known as Lurk, a banking Trojan that has proven to be quite dangerous when in criminal hands.

This last year hasn’t been particularly kind to Russian financiers. Since mid-2015, about 18 separate incidents have occurred, resulting in approximately 3 billion rubles stolen. Authorities have made several investigations and arrested 50 individuals since that time.

Know of any stories that should be included in our weekly industry reports? Let us know by posting your comments below!


Images courtesy of almudenamilianishop.com, satoshipay.io, rferl.org.

The post Industry Report: PayPal Gets Into the Bitcoin Game appeared first on Bitcoinist.net.

Industry Report: PayPal Gets Into the Bitcoin Game

Share
Čvn 01

Six Russian Banks Lose US$25.7m To Hacker Collective

Source: bitcoin

Bitcoinist_Hacker Collective

According to Russian news sources, over US$25.7m has been stolen from Russian banks. This has nothing to do with yet another Swift network breach, though. A hacker collective is involved in the creation and distribution of malware, used to steal money from Russian bank accounts.

Also read: Sandjacking iOS Exploit Threatens Bitcoin and Ethereum Wallets

Earlier today, Russian law enforcement officials have arrested fourteen people of an undisclosed hacker collective. All of these people are suspected of being involved in the usage of malware to steal funds from Russia bank accounts. Preliminary results indicate more than US$25.7m has been taken. The Russian Federal Security Service has also confiscated a lot of computer equipment, combined with financial documents, bank cards, and cash sums.

The Rising Number of Hacker Collective Threats

 

A total of six banks has been affected by this hacker collective, including the Russian International Bank, Metropol, and Metallinvestbank.The attacks took place between March and April of 2016, although no specific dates were announced. All of these banks suffered from remote access attacks, which were made possible due to the distribution of malware.

Kaspersky Labs has indicated the hacker collective made use of the Lurk banking trojan. Doing so allowed the assailants to steal funds from bank accounts in both Russia and other countries. Lurk has been a powerful tool in the hands of the wrong people, as it has been used for over five years by hackers looking to sluice funds to offshore accounts.

It is not the first time these types of attacks take place in Russia, though. Damages caused by hackers and internet criminals have exceeded US$45m over the past year. Especially the number of attacks against financial institutions seems to be increasing exponentially. Since mid-2015, law enforcement has tracked 18 different incidents, resulting in over 3 billion rubles being stolen.

At the same time, several attacks have been prevented from causing even more damage. If that had not been the case, there would have been an additional US$30 million in damages, according to TASS. After thorough investigations, over 50 hackers have been arrested, and more than 80 searches have been conducted so far.

What are your thoughts on the rising number of cyber attacks against banks? Let us know in the comments below!

Source: TASS

Images courtesy of Shutterstock, Wikipedia

The post Six Russian Banks Lose US$25.7m To Hacker Collective appeared first on Bitcoinist.net.

Six Russian Banks Lose US.7m To Hacker Collective

Share