Bitcoin

Bitcoin Daily: COVID-19 Credentials Initiative Works On Certificate; Blackmoon Crypto Exchange To Shutter

Bitcoin Daily

Those creating self-sovereign identity (SSI) tools based on blockchain are working together on a so-called “immunity passport” to assist in halting the coronavirus’ proliferation, CoinDesk reported.

The COVID-19 Credentials Initiative (CCI) is putting effort toward a digital certificate that allows people to show, and ask for evidence from others of, a recovery from COVID-19, a receipt of vaccination, or a positive test result for antibodies.

Healthcare organizations would make the certificates, but the user would control them. They will be provided to others in a peer-to-peer fashion. More than 60 groups in the SSI industry are working on the effort, including Evernym, TNO and Streetcred, among others.

And, Blackmoon Crypto, which was first a place to exchange Ethereum tokens backed by shares in mainstream firms, is shuttering, CoinDesk reported.

The exchange had sought to be the first to sell the digital tokens of Telegram. The report follows a court order that made the issuance of grams uncertain.

The exchange reportedly made the closure known in an email, per an unnamed user cited in the report. Those who have the BMC coins of Blackmoon will reportedly be able to turn the tokens into USDC stablecoins. All fees have reportedly been called off, and withdraw limits are said to have been taken away.

Oleg Seydak, the CEO of Blackmoon, told the outlet that the cost of regulatory compliance was the rationale for shuttering the exchange.

In other news, traffic on Russia’s digital currency exchanges jumped more than 5.5 percent in March’s final week compared to February averages, per a Qrator Labs study, Cointelegraph reported.

Qrator Labs, for its part, connected the rising figures with heightened interest in the currency markets.

The organization also noted large growth in denial-of-service attacks (DDoS) events on digital currency exchanges. The number of DDoS attacks on digital currency exchanges rocketed by as high as 486 percent over the same time frame. In addition, Russia’s foreign exchange market traffic has risen by approximately 3 percent.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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