Another Free Ransomware Decryptor Released

Malware lab, Emsisoft, released a free decryptor tool on June 4. The tool enables victims to recover files encrypted by Tycoon ransomware attacks without needing to pay the ransom. Researchers from the BlackBerry’s security unit first discovered the ransomware. They stated in TechCrunch that Tycoon uses a Java file format to make it more difficult to detect before deploying its payload that encrypts the files. How does Tycoon work Speaking with Cointelegraph, Brett Callow, threat analyst of Emsisoft, said: “Tycoon is a Java-based, human-operated ransomware that appears to specifically target…

Former Chinese Central Bank Exec Praises “Commercial Success” of Bitcoin

The former vice president of the People’s Bank of China, or PBoC, Wu Xiaoling, praised what she calls a “commercial success” for Bitcoin (BTC) on June 5. These kind words come despite a number of vital weaknesses left to address. According to local Chinese outlet, Sina, Wu stated in the preface of the book — “Talking to Top Cadres about Digital Currencies” — that the cryptocurrency is the most successful commercial application of blockchain so far. The former PBoC’s executive also stressed that no other blockchain-related project had achieved the…

Marshall Islands Seeks to Establish a “Self-Sovereign Identity” With New Blockchain-Based Currency

The Marshall Islands’ project says its creation of a digital sovereign currency, named SOV, aims to be a “game-changer”. It could also pioneer how governments respond to crises such as the COVID-19 pandemic. In an exclusive interview with Cointelegraph, Joel Telpner, chairman of Sullivan’s Fintech and Blockchain Practice and Marshall Islands crypto advisor, highlighted that the project still faces “a lot” of challenges ahead, but looks forward to making the work “rewarding.” The current phase of SOV’s project Telpner said that the Islands’ government is currently in an 18 month…

Crypto Tidbits: $200M of Bitcoin Liquidated, Ethereum DeFi Adoption Limited, Bloomberg Is Bullish

Another week, another round of Crypto Tidbits. The past seven days have been volatile days for Bitcoin and other cryptocurrencies. The cryptocurrency on June 1st rallied past $10,000 for the first time in many weeks, reaching as high as $10,400. It was an explosive move that had many expecting more upside. One Wall Street analyst went as far as to say that the breakout past $10,000 was the biggest in BTC’s storied history. But just as fast as Bitcoin rallied, the asset tanked. Just 24 hours after the asset moved…

South Korean Crypto Exchange Is First to List Kakao’s Token

South Korean tech giant, Kakao, listed its Klaytn blockchain-issued Klay (KLAY) token via a local cryptocurrency exchange on June 5. This news follows their launch of a new crypto wallet feature in KakaoTalk earlier the week. After registering over 100,000 users thanks to their new crypto-related features, Tech M reports that Kakao reached an agreement with Coinone to list its KLAY tokens. A Klay-South Korean won pairing is now live trading in one of the top four crypto exchanges in the country. ICOs are still illegal in South Korea The…

The Latest Ransomware Victim Is a NASA Contractor

As SpaceX and NASA celebrated their first human-operated rocket launch on May 30, cybercriminals behind a ransomware known as DopplePaymer launched an attack against one of NASA’s IT contractors. According to a blog post by the hackers, the gang managed to breach the network of the Maryland-based Digital Management Inc, or DMI. This company provides IT and cyber-security services to several Fortune 100 companies and government agencies. DopplePaymer hackers leaked almost 20 archive files belonging to NASA through a portal operated by the gang, including HR documents and project plans. Some…

Of Street Marches and Market Manipulators, May 30–June 5

Cointelegraph’s weekly newsletter on the latest in law, policy and regulation for the crypto and fintech industry.  Editor’s note A lockdown spring is giving way to a protest summer in the U.S., and this will be an especially U.S.-focused edition of Law Decoded. Washington’s focus has shifted from the novel coronavirus over to the mass demonstrations around the country as well as near the White House. The world watches the combined police and military response that has met the protests.  Policymakers are still working to clean up the mess that…

Revolut Confirms Firing 62 Employees in the Wake of Coronavirus

Revolut fired a number of employees since the coronavirus outbreak began, according to a story from Wired. The European fintech company responded with a statement on the numbers and rationale. “As in many companies, COVID-19 necessitated cost cutting across our business and, in the last resort, we made 62 redundancies globally, representing less than 3% of our staff,” a Revolut spokesperson told Cointelegraph on June 5.  Revolut allegedly asked staff to quit   Job redundancy refers to a certain title or position that companies determine as obsolete or no longer necessary,…

Poloniex Lists Binance Coin Following Tensions Over Steem

Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and BUSD wallets are now live on the exchange, with markets for the corresponding pairings slated to launch in post-only mode to ensure stability before full trading functionality rolls out. Binance tokens listed on Poloniex The listings bring support for six new pairings, with Binance Coin now tradeable against Bitcoin (BTC), Tether (USDT), and Tron (TRX) in addition to…

Grayscale Is Buying Up More Than Just Bitcoin

While great attention has been paid to the recent enormous accumulation activities of the Grayscale’s Bitcoin Investment Trust, or BIT, the crypto fund manager has also been aggressively growing its Ether (ETH) stash.  Speaking on a recent episode of the Coinscrum markets podcast, Grayscale’s director of investor relations, Ray Sharif-Askary, revealed that $110 million worth of ETH has been purchased by the firm during 2020 so far. Institutional investors diversify with ETH As such, Grayscale’s purchases are equal to 0.4% of Ethereum’s total market cap in the past five months.…