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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 Daily: Block.one Gets Patent For DLT That Monetizes Social Media Posts; Bitfinex Seeks US Subpoenas To Track Down $800M In User Funds

PYMNTS

Block.one, which is behind the EOSIO (EOS) protocol, now has a patent for a blockchain-based bidding system for promotional exposure for social media, according to Cointelegraph. According to Block.one, the first hash value of the original content will be stored on the distributed ledger technology (DLT).

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New App Lets Users Tip On Twitter With Bitcoin

PYMNTS

Twitter users can now send small bitcoin transactions as a tip if they like a tweet, according to reports. The app lets people send bitcoin payments over the Lightning Network, which is an instantaneous and inexpensive way for people to send and receive bitcoin. There are plans for Tippin’s future, too.

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Bitcoin Daily: African Open Blockchain Ecosystem In The Works; Authorities Shut Down Bitcoin Scam In Brazil

PYMNTS

Sekunjalo Investment Holdings has teamed up with Chinese public blockchain leader Ultrain Technology Limited to develop a pan-African open blockchain system called the African Chain 3.0, Police in Brazil have shut down a bitcoin investment scheme that allegedly stole $359 million. according to reports.

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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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Bitcoin Daily: VeChain Blockchain Platform Loses $6.7M In Cyberattack; Bottle Pay Bitcoin Startup Shuts Down Amid New EU Regulations

PYMNTS

In other news, Sweden’s Riksbank has put into place the public procurement of a supplier of technology to the eKrona pilot project and intends to make an agreement with Accenture, according to an announcement. The main goal of the project is to widen the bank’s understanding of the eKrona’s technological potential.

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Bitcoin Daily: TV Show Creator Sues Facebook For Bitcoin Ad Scam; Vancouver Cracks Down On Bitcoin ATMs

PYMNTS

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 De Mol’s lawyers accuse the social media giant of failing to prevent the ads, as well as not responding fast enough to complaints.

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