Bitcoin

Bitcoin Daily: Japan's Coincheck Victim Of Data Hack; Binance Korea Teams With Blockchain Startup On AML

Japanese crypto firm Coincheck has become the victim of a data breach, with attackers utilizing private information to impersonate the firm.

Coincheck came under attack by an unknown third party, which was able to gain access to an account it held with Onamae.com, and then used an official email to send “fraudulent” emails to users between May 31 and June 1.

The attacks affected around 200 users, who apparently had their private data exposed as a result, including names, email addresses and ID photos.

The motive of the attack is unclear, but it could have been an attempt to phish for “know your customer” details to try and access customer accounts. Coincheck has suspended crypto remittances for the time being due to the attack.

Crypto scams have become common in the field as the form becomes more widely accepted.

Binance’s Korean crypto arm will work with Coinfirm, a blockchain analysis firm, to help boost anti-money-laundering compliance.

The partnership will integrate Coinfirm’s AML solution with Binance Korea’s services on Binance Cloud, which is used for digital asset exchanges.

Jaewon Baek, Binance Korea’s money laundering reporting officer, said in a press release that Coinfirm “has one of the most advanced analytics systems and data on virtual asset wallets related to money laundering crimes.”

The technology will be used to monitor transactions and crypto addresses to help watch out for money laundering cases.

Crypto.com has achieved ISO/IEC 27701:2019 certification, making it the first cryptocurrency company to achieve such; the certification is a recognition of the way Crypto.com holds privacy rights in high esteem.

According to a press release, the certification means Crypto.com, which was established in 2016, maintains privacy standards that are sufficient to protect data from risks.

ISO/IEC 27701:2019 is the world’s first standard for privacy rights management for personally identifiable information (PII). The audit was conducted by SGS, which works in inspection and certification. ISO/IEC 27701:2019 establishes requirements for implementing, maintaining and continuously improving a Privacy Information Management System (PIMS).

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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