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Bitcoin Demand Surges in Lebanon

M. Ali

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Bitcoin lebanon

Demand for bitcoin is jumping in Lebanon after the country is facing one the worst financial crisis since the 1975-90 civil war. According to Saida Online (a popular Lebanese news portal), many Lebanese have investors also considered BTC as a store of value and a hedge against the aggressive expansionary monetary policies adopted by the central bank of Lebanon.

Protests that have swept Lebanon since Oct. 17 have added to pressures in the financial system, deepening a hard currency crunch that has left many importers unable to bring in goods, forced up prices and increased fears of financial collapse. The protests, fueled by rage against a ruling class seen as looting Lebanon, have slowed an already weak economy. Many businesses have shed jobs or slashed salaries and moved workers onto part time.

The crisis has shaken confidence in a banking system that has been a cornerstone of Lebanon’s post-war stability. Several Lebanese banks have imposed new caps on interest rates on deposits and pay savers half the interest due on foreign currency holdings in Lebanese pounds.

Bitcoin and other cryptocurrencies are not fully legalized in Lebanon, yet many investors in Lebanon are currently trading bitcoin through Whatsapp and Telegram groups.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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Major Cryptocurrency Twitter Accounts Got Hacked

M. Ali

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Many popular cryptocurrency-related verified Twitter accounts got simultaneously compromised and tweeted an identical “CryptoForHealth” scam message. The hackers are shilling a scam-site to try and get individuals to send them Bitcoin.

Complete list of hacked accounts so far: – @cz_binance@AngeloBTC@SatoshiLite@bitcoin@justinsuntron@binance@coinbase@Tronfoundation@kucoincom@bitfinex@elonmusk@kucoincom

It’s unclear what entity hacked into the accounts or how they were able to gain access, though some Twitter comments suspect it may be a hack of Twitter’s application programming interface (API), a computing point of contact between two networks that allow certain interactions between the two.

Some twitter users claim that hackers got access to “Twitter Panel”, which is basically hacking one of the Twitter admins/employees. This gives direct admin access to accounts and allows individuals to chance e-mail & password.

Stay tuned for updates.

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TATA Launches Cryptocurrency Trading Platform

Sying Tien

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TATA Consultancy Services (TCS), the leading Indian multinational IT service and consulting company announced the launch of a new cryptocurrency trading platform called Quartz Smart Solution for banks and investments.

The new platform will support multiple cryptocurrencies, digital assets, digital coins linked to fiat currencies, trading channels and public blockchain networks, thereby offering choice and flexibility to customers in their trading and investment strategies.

Quartz Smart Solution has been developed in collaboration with blockchain startup Quartz, incubated by TCS. Its Smart Ledgers product consists of ‘Smart Solutions,’ a set of distributed ledger technology for businesses across industries; ‘Quartz DevKit’ a low code smart contract development platform; ‘Quartz Gateway’ for integrating existing solutions with varied ecosystems and ‘Quartz Command Center’ for administering and monitoring the ecosystem.

TATA Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) service and consulting company with headquartered in Mumbai, Maharashtra, India. It is a subsidiary of the Tata Group and operates in 149 locations across 46 countries.

TCS is the second largest Indian company by market capitalization. Tata consultancy services is now placed among the most valuable IT services brands worldwide.

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Egyptian Man Arrested for Mining Ethereum in Badr City

M. Ali

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Egyptian Man Arrested for Mining Ethereum in Badr City

Egyptian National Police (ENP) have smashed a mining farm for mining Ethereum cyrptocurrency and arrested a man in Badr City (located north east in the Cairo Governorate).

Ethereum (ETH) is just like Bitcoin, a cryptocurrency, that is a decentralised digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Eth network without the need for intermediaries.

We were tipped off about the presence of a sophisticated computerized system at an address in Badr City that are being used to illegally mine cryptocurrencies

Quoted from the MOI’s press release

During Badr City’s mining farm raid, police have seized 19 mining rigs that were used in the “Illegal mining” operations. Mining farm is a data center, technically equipped with dedicated computers or miners to mine cryptocurrencies.

Badr City Mining Farm

One man was arrested on charges of money laundering through cryptocurrency.

Bitcoin and other cryptocurrencies are illegal in Egypt. It may still be possible for Egyptians to acquire Bitcoins through online cryptocurrency exchanges or by purchasing Bitcoins from Facebook and Telegram crypto groups, however, that would be illegal.

MOI Press Release Video

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