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New Ransomware Uses Social Media, Demands Payment in Bitcoin

Bank Innovation

A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin.

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Bitcoin Tracker: How Secure Are Bitcoins?

PYMNTS

Security in the digital age is a goal for most retailers and consumers — and nearly everyone else in the business world. When it comes to personal information, especially data linked to payment accounts, the level of privacy and accuracy of security are key in keeping the retail world spinning. Although most U.S.

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Bitcoin Daily: BoE Economist Cites Benefits Of Digital Assets; Online Gamblers Choose Crypto To Cash Out; One Charged In $2M Crypto Theft

PYMNTS

While recognizing that digital currencies do pose risks, including the possibility of imposing “a macro-economic cost,” Haldane argued that a digital currency could mitigate technological constraints on lending, provide additional payments security, and increase stability. “I In other news, the U.S.

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US Treasury Secretary Sees Libra As National Security Threat

PYMNTS

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. In a press conference on Monday (July 15), Mnuchin warned that Libra “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”.

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Amazon’s Bitcoin Embrace And Cannabis Burgers Top The Week’s News

PYMNTS

Amazon Embraces Bitcoin. Bitcoin , through the lightning network, will soon be available as an option to pay on Amazon and other eCommerce sites. Amazon itself does not handle the bitcoin, and it was not clear which financial institutions are converting it from crypto to fiat (real currency) so merchants can receive actual money.

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Bitcoin Daily: S. Korea Eyes Crypto Capital Gains Tax; Crypto Lawyers See Rise In Demand

PYMNTS

A South Korean court referenced the coins saying they “have been recognized only as a function of currency and have not been subject to income tax, but recently, virtual assets (like Bitcoin) are increasingly being traded as goods with property value. And, the U.S. Abra, which works by letting users bet on price movements of listed U.S.

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Twitter Stock Down As Worries Grow Over Hacking

PYMNTS

According to a report in Reuters , citing a blog post by Twitter , the social media company said it discovered the traffic to a customer support forum while looking into a security hole that makes user data, such as phone country codes, accessible to hackers. Twitter said it fixed that security vulnerability on Nov.