New Ransomware Employs Never-Before-Seen Attack Method

A new study warns of a new ransomware attack method that runs a virtual machine on target computers in order to infect them with the ransomware. This may play the attack beyond the reach of the computer’s local antivirus software. According to the UK-based cybersecurity firm Sophos, the Ragnar Locker attack is quite selective when choosing its victims. Ragnar’s targets tend to be companies rather than individual users. Almost 1,850 BTC in ransom demanded in a single attack Ragnar Locker asks victims for large amounts of money to decrypt their…

Plus Token Leadership Faces Criminal Prosecution in China

One of the ringleaders of Plus Token is now facing criminal charges in China. Plus Token is one of the largest apparent scams in the cryptocurrency industry’s history. According to local media, Zhou will face public prosecutors in the Court of Jianhu County, Yancheng City, Jiangsu Province. As the local government only supplied Zhou’s family name, at press time we can’t confirm exactly which Zhou this refers to. Zhou reportedly publicized and promoted the PlusToken wallet App, a so-called crypto currency financial management application, through Wechat and other avenues over…

Bitflyer Donates Cheezy Pies to Shelters In Honor of BTC Pizza Day

Bitcoin Pizza Day commemorates a historic event roughly 10 years ago, when coder Laszlo Hanyecz made the first commercial purchase using Bitcoin (BTC). In celebration of this well-loved community holiday, BitFlyer donated pizzas to a number of organizations. “We ordered the pizzas ourselves from a local chain and delivered them to the homeless shelters,” BitFlyer COO Joel Edgerton told Cointelegraph on May 22. “We worked closely with the managers of the shelters to ensure they get the appropriate amount and get there on time.”  BitFlyer sending slices all over “Bitcoin Pizza…

Crypto Exchanges Speak Out as Binance Takes CoinMarketCap’s Top Spot

For an industry that is supposed to be based upon decentralization, it appears to be getting crowded at the top, with a number of companies transforming into unspoken oligarchs, each wielding huge influence — or at least that’s what some critics argue. One of the most remarkable crypto companies operating today is Binance. In only three short years, Binance has enjoyed a meteoric rise to the top. Criticism of Binance, philosophical or otherwise, can’t fail to take into account the impressive stream of innovation the firm seems to channel. Headed…

Russia Proposes 2M Rub Fine and 7 Years in Jail for Illegal Crypto Use

Russian lawmakers have suggested punishments of up to 2 million rubles ($27,800) and seven years in prison for illegal turnover of digital assets and cryptocurrencies. As reported by the Russian business channel, RBC, the draft amendments to the administrative and criminal offences codes were confirmed as genuine, but have not yet been agreed into law. Sliding scale of punishment The punishments suggested are on a sliding scale, starting with administrative offences for violating proposed rules governing transactions using digital currencies in payment for goods or services rendered. In this case…

“It’s Just a Matter of Time” Before BTC Break’s All-Time High, Investment App CEO Says

Aleks Svetski, co-founder and CEO of Bitcoin (BTC) investing application Amber, said the asset could be on route to hit its all-time price high once again.  “It’s just a matter of time – there’s a perfect storm brewing and the pressure will have to go somewhere,” Svetski told Cointelegraph in a May 21 email, adding:  “With Bitcoin, supply is fixed, and its utility as an un-inflatable and incorruptible money is only increasing – the only thing left to move is price. A longer time horizon could mean accumulation potential With…

Bitcoin Will Create a New Economic Elite in 2020

As many economies slowly begin opening up again, their stability remains uncertain. ​2020 will go down in the history books as the year financial markets suffered their worst day since 1987 and oil’s value went negative​ for the first time. Bitcoin (BTC) continues to increase in popularity across the globe, particularly as ​emerging markets ​with populations counting billions begin to recognize its potential. The asset has proven extraordinary resilience in the worst economic crisis of our living time — even overtaking gold as the ​best performing asset​ of 2020. The…

Baseline Demo Showcases Secure Enterprise Collaboration on Ethereum

The Baseline Protocol has successfully executed a proof-of-concept in which multiple companies privately and securely synchronized data and managed purchase orders on top of the Ethereum (ETH) mainnet. The concept demonstrates how enterprises can use the protocol to securely collaborate in executing business processes over Ethereum without exposing valuable proprietary data. Baseline Protocol’s development was spearheaded by ConsenSys, Microsoft, and Ernst & Young. Baseline concept advances enterprise use-cases for Ethereum On May 21, Baseline Protocol published a demo detailing “multiple companies digitally managing purchase orders and volume discount agreements across…