Scams

New Scam Targeting Brave Browser Users

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  • Phishing is a commonly used internet scam
  • The scammers intended to steal personal information and keys
  • BAT is trying to address the matter

A new Phishing campaign targeting users of the Brave browser has been discovered. A Reddit user noticed the scam making the rounds on social media.

Brave users targeted

A Reddit user sounded the alert on June 12, 2019, stating that scammers are doing mass emailing to try and have people download a fake upgrade for the Brave browser by promising 30 BAT (Basic Attention Token) tokens to the early birds. The Phishing site, {brave-browser.info} has been designed to look exactly like the actual brave site https://brave.com/. The fake version of the now-popular browser has been designed to steal the keys on a user’s PC and other personal data.

Phishing is one of the most dangerous and most commonly used internet scams these days. In a phishing attack, the scammers attempt to trick innocent victims to provide sensitive information involving fake websites and emails that resemble the legitimate ones. Users are vulnerable because they almost always do not discriminate between legitimate and malicious websites and emails therefore subjecting themselves to fraud and identity theft.

Personal data at risk

For the unsuspecting user, this could mean great financial risks or loss of money through fake transactions but in other cases, it means stolen personal information that the attackers can use for their personal gain. The stolen information is a risk not only to the users but can put even financial institutions to great risks through huge amounts of fraudulent transactions.

The Phishing process can also be used to install ransomware and illegal software in a user’s system without the knowledge of the user so the attackers can continually continue to steal information from the user or their computer. There have been several Phishing attacks targeting owners and users of the Basic Attention Token (BAT). In the past these attacks sent a message that a user needed to check their crypto balance but in this case they are tricking users to upgrade their browsers with the promise of some free tokens.

Earlier in January, Brave announced it was previewing its opt-in advertising feature, Brave Ads and opened the feature to all users of its desktop browser for macOS, Windows, and Linux. Brave Ads is an opt-in digital advertising feature built with user privacy in mind. Come April 2019, the company launched the 1st ad platform built on privacy. Brave desktop browser (0.63.48) users who opt into Brave Ads receive 70% of ad revenue share. Brave puts the user in control, rewards them for their attention, and helps fund content creators, making it popular. A Reddit user Bat-Chriscat said BAT was aware of the problem and was trying to address the matter.


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Bitpoint Hack Shows That Regulators’ Scrutiny Does Not Equal Safety

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On July 12, 2019, Tokyo-headquartered cryptocurrency exchange Bitpoint promptly suspended its services after noticing an error in the outgoing funds transfer system. Soon, an official announcement followed, revealing that the trading platform had lost around 3.5 billion yen (roughly $32 million) as a result of a security breach. The exchange’s administration has managed to find a portion of the missing funds since the initial announcement was published. Nevertheless, the security breach seems to continue the streak of hacks targeting Japan-based exchanges.

Details of the hack

According to the breakdown of the hack published by Bitpoint’s parent firm, Remixpoint Inc., Bitcoin (BTC) accounted for the highest share of total losses. The total amount of stolen BTC (1,225) is worth over 15 billion yen (just over $138 million). Further, over 28 million XRP (10 billion yen, or $92 million) and 11,169 ETH (3.3 billion yen, or $30 million were…



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Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing

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David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports on July 16, Marcus delivered his comments at the ongoing hearing on Facebook’s Libra with the Banking Committee of the U.S. Senate.

Addressing the issues of money laundering and terrorism financing, Senator Cortez Mastro asked Marcus how Facebook is going to ensure that the platform is not being used for such purposes. Marcus responded that “this is something that I care about deeply, personally.” Marcus added that the company will have an Anti-Money Laundering program, reiterating Facebook’s commitment to FinCEN.

Marcus stated that “Calibra will be affordable and accessible and also safe and secure” and will comply with FinCEN and state regulation. According to Marcus, Libra Corporation will still register with FinCEN despite the…



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R3 to Support a Startup-Focused Stock Exchange in Brazil

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Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms.

Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16.

The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes.

Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019.

Banco Maré CEO Alexander Albuquerque claimed that the new venture aims to democratize risky investment and bring the low-income public to the stock market.

Earlier in June, Cointelegraph reported that the…



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Is There a Future for Privacy Coins in the United States? » The Merkle Hash

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Cryptocurrencies which provides users with privacy and anonymity are often looked down upon by politicians and other officials. Especially in the US, privacy coins such as Monero and ZCash might face an uphill battle in the future. The most recent White House press conference only confirms these currencies are designed for criminals and no one else. 

The Stigmas Remain

For quite some time now, the term “privacy coins” is associated with illegal activity on the internet and in the real world. This is primarily because of the privacy and anonymity features these currencies tend to provide to its users. In the case of Monero, for example, it is impossible to determine who owns how many coins, or who is sending and receiving transactions. This makes it a thorn in the side of government officials and financial experts, as they only see the negative side of this…



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‘I like bitcoin,’ says House GOP leader McCarthy, hits Facebook Libra

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House Minority Leader Kevin McCarthy told CNBC on Tuesday that he likes the decentralized nature and the security of bitcoin.

“I like bitcoin” and the security of the blockchain ledger technology behind cryptocurrencies, the California Republican said, as he criticized Facebook’s plans for a Libra digital coin ahead of hearings on Capitol Hill this week.

Libra will be pegged to a basket of government-backed money, compared with bitcoin, which is highly volatile in price and derives value from factors including its ability to enable instantaneous, anonymous, global payments and as an investment.

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McCarthy did, however, say that bitcoin is not where it needs to be yet, alluding to the risks of cryptocurrencies being used by criminals and money launderers.

While Libra promises more stability, McCarthy remains concerned.

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