Bitcoin

Bitcoin Daily: MUFG To Issue Crypto For Payment App; Unsuccessful Hackers Demanded $7.5M In Crypto From Argentina's Telecom SA To Stop Attack

Bitcoin Daily: MUFG To Issue Crypto For Payment App; Unsuccessful Hackers Demanded $7.5M In Crypto From Argentina's Telecom SA To Stop Attack

Mitsubishi UFJ Financial Group (MUFG), the biggest banking enterprise in Japan, is scheduled to release a cryptocurrency later this year, CoinDesk reported.

The digital currency will be rolled out with the help of a holding company in Japan called Recruit Group that runs Hot Pepper Gourmet, an eatery search service.

At first, the cryptocurrency will be used in a mobile payment app for member firms that are on the website of Recruit, which has approximately 1 million member stores.

The news comes as MUFG deemphasized news of a cryptocurrency rollout in December, as it noted that it had made a Recruit joint venture agreement but “no other decision” had occurred.

In other news, attackers who reportedly propagated an ineffective ransomware hack on Telecom SA, a top communications firm in Argentina, sought a digital currency ransom to let impacted workstations resume their usual status, CoinDesk reported.

Discussion about renumeration in digital currency started occurring on social media following a tweet from an economist that hackers were seeking $7.5 million in monero. The Twitter post reportedly came with a picture that showed the attackers indicated they would increase the amount of the ransom by two times if payment did not come by 48 hours at the latest.

Telecom SA indicated it “curtailed” the breach sans the need for the digital currency payment, per CoinDesk, which cited a La Nacion report.

The firm’s network reportedly suffered the attack for as long as 72 hours and impacted work access to a virtual private network (VPN) in addition to many databases, CoinDesk reported, citing El Periodista.

La Nacion “confirmed" the hack, per CoinDesk, but noted it just impacted workstations of staffers who offer remote client service. The outlet had also noted that attackers sought the funds to reportedly provide keys that would let devices get system access back.

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