Bitcoin

Bitcoin Daily: North Korean Hackers Target South Korean Crypto Exchange; Coinbase Pres Leaving Co

North Korean hackers have targeted South Korean cryptocurrency exchange UpBit.

According to Hard Fork, security firm East Security discovered that the hackers sent a phishing email to UpBit users asking for more information from customers regarding a fake sweepstakes payout. There was a file attached to the email claiming to include more information, but would instead run malicious code when opened.

East Security believes a North Korean hacking group called Kim Soo-Ki is responsible for the email scam.

In other news, Coinbase has announced that president and chief operating officer Asiff Hirji is leaving the company.

“We’re incredibly grateful for Asiff’s contributions over the past 18 months,” Brian Armstrong, co-founder and CEO of Coinbase, said in a statement, according to Coindesk. “His experience and mentorship helped guide Coinbase through an important chapter in its history. He joined at a critical time when both the company and crypto space were going through rapid growth, bringing his extensive experience to bear when it was most necessary.”

There are also reports that Tina Bhatnagar, Coinbase’s current vice president of operations and technology, is leaving. The company also confirmed that Emilie Choi, the company’s vice president of business, data and international, would be taking over as chief operating officer.

The Financial Stability Board (FSB) has warned that regulators need to increase their risk assessments of the cryptocurrency sector.

The watchdog warned that quick technological change may lead to gaps in policies on digital money, which could impact financial stability.

Although global bodies are taking a closer look at protecting crypto investors, as well as financial stability and money laundering, regulation differs depending on jurisdictions, the FSB said, according to Reuters.

And Block.one has announced the launch of Voice, a blockchain-based social media application designed so that the value of good content gets circulated back into sustaining the community.

“The truth is, current social media platforms are designed to use their users,” Brendan Blumer, CEO of Block.one said in a press release. “Just look at the business model. Our content. Our data. Our attention. These are all incredibly valuable things. But right now, it’s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.”

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