Biggest Bank in Venezuela Suffers 5 Day Outage After Hack Attempt
The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being perpetrated in the form of a massive hack. More than 16 million customers are still without banking services at the time of writing. Bank of Venezuela Hacked In “Terrorist Attack” The Bank of Venezuela, one of the biggest financial institutions in the country, servicing....
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A recent breach of customer data at a UAE-based bank, which resulted in a Bitcoin ransom, represents a formidable hack that has exposed customer data. Some say it could be the largest in UAE history. Sharjah bank suffered the hack on November 18. The hacker then held the sensitive customer data ransom, leaking the information on social media since the initial breach. The hacker went by the moniker Hacker Buba and claims he won’t stop until bank staff pays him an undisclosed amount of bitcoins. Twitter suspended Hacker Buba’s account, but the following day he had a new account and uploaded....
The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet in a country that has just exited hyperinflation and still suffers high levels of inflation. However, the establishment of a 3% tax targeting expenses in foreign currency and crypto is having some effects in this regard.
Venezuela Seeks to Strengthen Its Fiat Currency
After having defacto dollarization, which the president of the country called an “escape valve” from....
Some unfortunate news is in the bitcoin books. Following an outage of global digital currency exchange Bitfinex, everybody’s favorite coin has undergone quite a plunge, and is hovering around $671 USD at press time, a drop of nearly $100 in the last 48 hours. Bitcoin Price Plunges Following Bitfinex Outage. As Bitcoinist.net recently wrote: “The Bitcoin price has taken a tumble today with the Bitfinex trading outage, starting around 5 PM Eastern Time, and continuing into the night… Bitfinex is citing “server migration issues” as the source of the outage delaying their projected re-launch....
Perhaps the biggest announcement is how SurBitcoin saw their bank account being revoked this week. The bitcoin situation in Venezuela seems to be evolving in the wrong direction as of late. After four miners were arrested last week, four others were taken into custody this week. Moreover, the country’s leading bitcoin exchange had its bank account revoked. Things are not looking all that great for cryptocurrency in Venezuela, although bitcoin will find a way to route around these problems. The four new arrests in Venezuela paint a troublesome future for cryptocurrency in the country.....
Bitfinex, while still listed on its website as being in the "beta-phase," is the largest USD based bitcoin exchange. Bitfinex is currently experiencing an outage, as they have acknowledged on twitter. Beyond tweets acknowledging the existence of an issue, Bitfinex has not yet released any information concerning the current service interruption. This latest outage follows an outage just four days ago on July 6th. Few details have been released about that outage, though it was addressed quickly. In late may of this year, Bitfinex' hot wallet was hacked to the tune of $5,400,000. No customer....