City hiring to rumble on despite Brexit as Bitcoin boom creates jobs
The Bitcoin boom is set to boost hiring in the City this year as financial companies race to stay ahead of the game in developing Blockchain technology, a leading headhunter has predicted.
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US cybersecurity firm Recorded Future has released a new report linking Lazarus, a North Korean hacking group, to various South Korean cryptocurrency exchange hacking attacks and security breaches.
In a report entitled “North Korea Targeted South Korean Cryptocurrency Users and Exchange in Late 2017 Campaign,” the firm’s researchers stated that the same type of malware used in the Sony Pictures security breach and WannaCry ransomware attack was utilized to target Coinlink, a South Korea-based cryptocurrency exchange. $7 mln stolen from Bithumb
In February 2017, Bithumb the South Korean cryptocurrency exchange fell victim to a security breach that led to the loss of around $7 mln of user funds, mostly in Bitcoin and Ethereum’s native cryptocurrency Ether.
The report released by Recorded Future noted that the $7 mln Bithumb security breach has been linked to North Korean hackers. Insikt Group researchers, a group of cybersecurity researchers that closely track the activities of North Korean hackers regularly, revealed that Lazarus Group, in particular, has used a wide range of tools from spear phishing attacks to malware distribution through communication platforms to gain access to cryptocurrency wallets and accounts.
Insikt Group researchers disclosed that Lazarus Group hackers initiated a massive malware campaign in the fall of 2017 and since then, North Korean hackers have focused on spreading malware by attaching files containing fraudulent software to gain access to individual devices.
Motivation of North Korean hackers
Prior to the release of Recorded Future’s report, several other cybersecurity firms had accused North Korean hacking groups of targeting South Korean cryptocurrency trading platforms with sophisticated malware and phishing attack tools.
Researchers at FireEye linked six targeted cyber attacks against South Korean cryptocurrency exchanges to state-financed hackers based in North Korea. Most recently, as Cointelegraph reported, police investigators and the Korea Internet and Security Agency initiated a full investigation into a security breach that led to the bankruptcy of YouBit, a South Korean cryptocurrency trading platform.
At the time.
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Indian Banks Suspending Bitcoin Exchange Accounts—
Bitcoin exchanges are under fire in India, as many of the nation’s top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality. The banks cite the risk of dubious transactions, according to local reports.
The news follows the request of advocate Bivas Chatterjee who recently filed a public interest litigation (PIL) in Calcutta to impose immediate regulations on Bitcoin and other cryptocurrencies. Additionally, the Ministry of Finance referred to Bitcoin as a ponzi scheme before the end of last year.
The international mood toward Bitcoin has continued to tighten, particularly with US Treasury secretary Steven Mnuchin stating that the G20 nations will begin working together to make sure that Bitcoin and other cryptocurrencies are properly regulated.
(Jan. 21 update: This article originally mistakenly claimed that the Metropolitan Bank put a halt on all wire transfers for cryptocurrency exchanges. According to a statement issued by the Metropolitan, there were no changes in its policy and the 'halt' was misreported by the media. We apologize for the confusion this article might have caused)✔️
Cryptocurrency terminologies and abbreviations.
1) Pump And Dump: massive buying and selling of cryptocurrencies by a person or multiple people to benefit by manipulating the market values.
2)BLOCK: a block holds a digital list of transactions.
3)BLOCKCHAIN: It is a digital, distributed ledger that is trustless, secure and contains a list of transactions.
4)FIAT: a regulated or centralised currency of a nation.
5)HASHRATE: speed of which a block is created.
6)MINING: process of computer hardware that solves mathematical equations for a Cryptocurrency network to confirm transactions and increase security.
7)WHALE: a person or entity that holds a lucrative amount of CryptoCurrency that can manipulate the market values.
8)ALTCOIN: an altcoin is every alternative coin besides BITCOIN. Example, Dash or Zec
9) CRYPTOCURRENCY: a digital currency that uses encryption techniques to create units of currency.
1)ATH: All Time High.
2)PoW:Proof Of Work.
3)P2P:Peer To Peer.
4)FUD: Fear, Uncertainty and Doubt.
5)FOMO: Fear Of Missing.
6)HODL: Hold On for Dear Life.
7)ICO: Intial Coin Offering
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