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Huawei CEO: China Can Issue Our Own Version Of Libra

Sying Tien

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During press conference held in Italy on July 18th, Ren Zhengfei, Huawei CEO was asked by Fabio Savelli (an Italian reporter at The Evening Post ) about Facebook plans to issue a digital currency.

Fabio Savelli asked: We know that Facebook has announced that it will issue a digital currency based on blockchain , called “Libra Coin”. Do you think this is a US technology company to maintain the world domination with the US government? , do you think that when issuing digital currency, will they consider Chinese companies or put Chinese currency in their currency baskets?

And Ren Zhengfei answer was: China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always stronger than an Internet company.

This was published by the Chinese media outlet Sina.

Professional Trader, Social media scholar and a Crypto expert. If you have any comments, suggestions or questions feel free to contact me at [email protected] and i will get back to you shortly.

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Bitcoin

Bitcoin User Losses $16.2 Million in BTC After Using an Old Electrum Wallet

M. Ali

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An anonymous Bitcoin user is claiming to have lost $16,000,000 (1400 Bitcoins) due to installing an old Electrum wallet version that is running malicious servers.

The user created an issue and explained what happened on the official Electrum’s github page.

It seems the victim was using an infected version of Electrum wallet that asked him to install some sort of malicious updates that triggered the transfer of hist entire Bitcoin balance to a scammers address.

According to bitcoin blockchain the transfer of the stolen funds happened yesterday.

Electrum is a light client, which means it must connect to the blockchain through a server, which by default is chosen from a list of public Electrum servers. Anyone can operate such a public server and some users will be randomly connected to it.

When broadcasting a transaction on Electrum, it gets sent to the Electrum Server you are connected to for propagation to the network. The server should try to add the transaction to its mempool and further propagate it to other Bitcoin nodes.

it seems the attackers have set up a public Electrum Server targeting the old wallets’ users, which was tweaked so that instead of propagating the user’s transaction as it should, it always returns a malicious error message directing the Electrum clients to a phishing website to “upgrade” their Electrum version.

The only way to keep your Bitcoin and other digital currencies safe is to either use an offline wallet or a trusted hardware wallet.

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Bitcoin

New Jersey Man Paid 40 BTC to Hire a Hitman

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New Jersey Man Paid 40 BTC to Hire a Hitman

Federal agents arrested John Michael Musbach,31-year-old computer tech, of Haddonfield, New Jersey, and and charged with murder-for-hire for hiring a hitman to kill the child victim of his abuse, U.S. Attorney Craig Carpenito alleged in a statement.

Musbach, who pleaded guilty to endangering the welfare of a child by sexual contact in 2017, allegedly used unnamed darkweb black-market website and paid 40 Bitcoin to hire a hitman to assassinate a 14-year-old victim. Investigators did not name the website at the center of Musbach’s case. But descriptions of its sales pitch in court filings matched those associated with the now-defunct Besa Mafia site.

Musbach was arrested in March 2016 and charged with child pornography. He ultimately pleaded guilty to the endangering charge and was sentenced Feb. 9, 2018, to a two-year suspended sentence. He was also placed on parole supervision for life.

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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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