Banking and Finance

Experts Point to North Korea as Culprit Behind South Korea Bitcoin Hacking

Experts Point to North Korea as Culprit Behind South Korea Bitcoin Hacking

South Korea’s Cyber Warfare Research Center is pointing at North Korean hackers as prime suspects for the attack on at least one of their Bitcoin exchanges. Cybersecurity firm Cybereason says that the hacking might have been done in retaliation to the tightening of economic sanctions brought by North Korea’s missile tests. The company’s senior intelligence director Ross Rustici warns that financial institutions and exchanges can expect more malicious attacks to follow, most likely focusing on institutions in South Korea, Japan, and US. Regions where security is weak, such as Southeast Asia, the Baltics, and countries in Africa may also be […]

Car Sharing May Soon Use Blockchain Tech

Car Sharing May Soon Use Blockchain Tech

Detroit, Michigan – Last Wednesday, accounting firm EY announced the it will be launching a blockchain based system named Tesseract which should help revolutionize record keeping in the vehicle sharing industry. Blockchain, the technology used by cryptocurrency, can also be used to track vehicle ownership and usage, compute insurance costs and other transactions. EY’s John Simlett says that they may use blockchain to manage shared use and ownership of large fleets, which users can access using their smartphones.     Similarly, Toyota has already announced in May that they will be working with MIT, BigchainDB, Oaken Innovations, and startup Commuterz to […]

IRS Warns Public of Ransomware-Carrying Fake Emails

IRS Warns Public of Ransomware-Carrying Fake Emails

The Internal Revenue Services has announced that a phishing email campaign is currently circulating fake emails bearing the seal of the IRS and FBI which intend to spread a form of ransomware that is yet to be identified.       Around a month before the warning, the IRS launched a security awareness campaign called “Don’t Take The Bait” to educate tax professionals about possible cyber threats that they may encounter. IRS Commissioner John Koskinen said that people need to be extra vigilant about email scams that prompt them to open an attachment. He added that the IRS won’t send parties with […]

Indonesian ATM Network Goes Down After Satellite Problems

Indonesian ATM Network Goes Down After Satellite Problems

Jakarta, Indonesia – Last weekend, thousands of ATMs and EDC payments across Indonesia went offline after the Telekom-1 satellite, owned by PT Telekomunikasi Indonesia (Telkom), had suffered an outage. The issue affected more than 100,000 machines belonging to different banks including Bank Central Asia and Bank Rakyat Indonesia. The problem was caused by a directional shift in the satellite’s antenna. Connection has since been shifted to two other satellites that cover Indonesia. However, it may take up to two full weeks before service is fully restored. Telkom’s president director Alex Sinaga says that they will be deciding in the next […]

Several Apps on Google Play Infected with BankBot Malware

Several Apps on Google Play Infected with BankBot Malware

Security researchers have confirmed that the apps “Bubble Shooter Wild Life” and “Earn Real Money Gift Cards”, which can be downloaded from Google Play, carry a banking trojan called BankBot. Securify co-founder Han Sahin said that the malware was able to bypass Google’s internal scanner since the infected apps act as a downloader which drops the trojan onto the device. Another researcher from Zscaler supported these findings and added that the malicious apps usually employ techniques such as time delays and code obfuscation. Due to recent malware issues plaguing Google Play, users are reminded to be extra cautious when downloading […]

CoinMiner Malware Uses EternalBlue to Force Infected PCs to Mine Cryptocurrency

CoinMiner Malware Uses EternalBlue to Force Infected PCs to Mine Cryptocurrency

Trend Micro researchers have reported that cyber criminals are now hijacking Windows PCs with a fileless malware that forces the computer to mine cryptocurrency. The ‘CoinMiner’ malware exploits the EternalBlue flaw used by WannaCry and NotPetya. Microsoft has already released a patch for the vulnerability last March, but for computers that haven’t been updated, the malware will trigger a WMI script to download malware or mining software every three hours. Trend Micro recommends that admins SMBv1 file-sharing protocol, and use the Microsoft tool that can trace WMI activity.      Source: ZDNet

Food and Retail Giants Join IBM in Exploring Blockchain

Food and Retail Giants Join IBM in Exploring Blockchain

It was reported last Tuesday that ten major companies will be joining IBM in exploring the potential of blockchain technology for improving safety and tracking food supply chains. The companies that will be participating are Nestle, Unilever, Dole, McCormick, Walmart, Tyson Foods, Kroger Co., Golden State Foods, Driscoll’s Inc. and Berkshire Hathaway’s McLane Co. VP of IBM blockchain business development Brigid McDermott said that aside from building the technology, the project also seeks to build the ecosystem. Known as the underpinning system of cryptocurrency, blockchain is a decentralized, open ledger which is maintained by a network of computers.   Source: […]

Singapore to Speed Up E-payment Adoption

Singapore to Speed Up E-payment Adoption

Last Sunday, Singapore Prime Minister Lee Hsien Loong discussed the state of e-payment adoption in his annual National Day Rally Speech. Lee revealed that despite being a well-connected, digitally literate society, majority of transactions in the country still use cash and cheques. He said the reason for this is the lack of interoperability between systems; consumers feel encumbered with carrying multiple cards and costs discourage businesses to carry multiple readers. Lee added that to help promote cashless payments, the Monetary Authority of Singapore has launched a single, unified POS terminal, as well as a peer-to-peer transfer service..   Source: ZDNet

Hackers Breach Enigma Project, Take Off With $475,000 in Ethereum

Hackers Breach Enigma Project, Take Off With $475,000 in Ethereum

Earlier this week, the website, Slack channel, and mailing list of the Enigma Project was breached during the company’s initial coin offering. No individual or group has yet been identified to be responsible for the attack. The hacker was able to send an email to Enigma’s subscribers which included a compromised link to “https://www.enigma.co/presale” where the recipient is supposed to send the money to buy tokens. A message with the compromised link was also sent to users in the Enigma group via Slack. The company issued a warning over Twitter, Facebook, while users warned each other on Twitter, Reddit and […]

Fintech Startup N26 Acquires 500,000 Customers

Fintech Startup N26 Acquires 500,000 Customers

Berlin, Germany – German direct bank N26 has reported acquiring 500,000 customers in Europe, which is an additional of 200,000 since March. The company also disclosed that they get around 1500 more customers each day. However, co-founder and CEO Valentin Stalf said that their growth is still 60% organic, and they are still planning to increase ads and branding efforts. At present, customers who sign up get a current account with a Mastercard, send and receive money with German IBAN, and make card purchases without foreign transaction fees. N26 is also in the process of adding more financial services including […]

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