Bitcoin

Bitcoin Daily: QuickBit Confirms Data Breach Impacting 300K Users; Iran Says Crypto Mining Is Legit

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Swedish cryptocurrency exchange QuickBit revealed to investors that it accidentally leaked 300,000 customer records via an unprotected MongoDB database.

“QuickBit has recently adopted a third-party system for supplementary security screening of customers. In connection with the delivery of this system, it has been on a server that has been visible outside QuickBits firewall for a few days, and thus accessible to the person who has the right tools,” the company reported, according to CoinDesk. “During the delivery period, a database has been exposed with information about name, address, e-mail address and truncated (not complete) card information for approximately 2% of QuickBit’s customers.”

In other news, Iran announced that it now recognizes cryptocurrency mining as an industry, and is looking at ways to regulate the activity in the country. The nation has become popular with crypto miners because of its cheap electricity rates.

“A mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a cabinet meeting,” Central Bank of Iran governor Abdolnaser Hemmati said in a statement.

Palestine might turn to digital currencies as an alternative to the Israeli shekel fiat currency.

Palestinian Prime Minister Mohammad Shtayyeh made the revelation on July 9 at the opening of the Palestine Center for Computer Emergency Response in Ramallah.

“The Palestinian economy has about 25 billion shekels [$7 billion] circulating in the local economy, but we’re not forced to remain dependent on the shekel,” he said, according to Cointelegraph.

However, one expert was quick to point out that 170,000 Palestinians earn their salaries in shekels, and 80 percent of the transactions in Israel are in this currency.

“Israel won’t accept dealing with another currency, and the shekel surplus predicament in Palestine will remain unchanged,” said an economic and social sciences professor at Najah University in Nablus.

And a company that has built a solution to track and manage prescription medications using blockchain announced that it has received “indicative” support from the Ugandan government to explore the use of its product in the country.

“The Ugandan President, Minister of Health and National Drug Authority all understand the need to act fast to tackle the country’s counterfeit drug problem and recognize the benefits offered by tracing medication on the secure, scalable blockchain framework we are developing. We see this as an important opportunity for MediConnect to form part of Uganda’s national infrastructure and protect its citizens by ensuring all drugs in circulation are authentic and safe,” said MediConnect CEO Dexter Blackstock.

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