Lithuania’s LBCOIN, The World’s First Collectible Digital Coin, is Sent to the ECB Council

The world’s first collectible digital coin called LBCOIN was sent to the email inbox of European Central Bank policy makers on Monday from one of their colleagues.

The coin came to Governing Council members as a link to an e-wallet with six digital tokens. These tokens feature a portrait of one of the 20 signatories of Liithunai’s 1918 declaration of independence.

“I’m curious how popular this is going to be among Governing Council members,” said Vitas Vasiliauskas, Lithuania’s central bank governor. “I’ve asked for feedback,” he added.

Just last week, ECB President Christine Lagarde said that they would soon discuss whether or not the eurozone should create its very own digital currency.

Currently, finance chiefs of the euro region are working on devising a regime to regulate fiat-backed stablecoins.

Call for a Digital Euro

Before being sent to the colleagues, the LBCOIN was demonstrated at last week’s Governing Council meeting about how it works.

Based on blockchain technology, the project took three years to complete, Vasiliauskas said.

“We’re the first to issue” such a coin, he said. “The whole experience gave us ample possibilities to comprehend the technology.”

The users of the tokens can also trade them among themselves after activating the tokens. The specific set of them can also be exchanged for a credit card-sized physical coin that has a nominal value of 19.18 euros.

The central bank governor believes the LBCOIN experience will help ECB in reaching the decision on a digital euro. According to him, it was the social media giant Facebook’s stablecoin Libra that helped euro-area central banks in recognizing that digitization can revolutionize the financial system.

“We absolutely need to move forward, we see the Chinese are already testing it in practice, launching the CBDC in certain regions,” he said. “Europe shouldn’t sleep through this again.”

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Author: AnTy

Data Breach at Popular Hardware Crypto Wallet Ledger Affects Million; Trezor Fires Shots

Popular crypto hardware wallet Ledger reported the leak of 1 million email addresses and 9,500 detailed personal information of its customers.

Ledger’s competitor, Trezor, took this opportunity to advertise, “After 90 days, we get rid of all sensitive data about your order in our e-shop database (even e-mail addresses),” complete with promo code “DATAPRIVACY” to offer a discount on its products. But it’s limited to 9500 users.

The company came to know of the data breach on July 14th when a researcher participating in Ledger’s bounty program made them aware of it; Ledger shared in its official report. Ledger immediately fixed the breach and conducted an internal investigation.

Now, a week after patching the breach, the company discovered the vulnerability had been exploited on June 25th by an unauthorized third party. The entity accessed Ledger’s e-commerce and marketing database through an API key, which has now been deactivated and is no longer accessible.

The database access, which has been used to send order confirmations and promotional emails, including mostly email addresses along with contact and order details such as first and last name, postal address, email address, and phone number.

Approximately 1 million email addresses were affected, and a subset of 9500 customers was exposed for first and last name, postal address, phone number, or ordered products.

“Your payment information and crypto funds are safe,” as the data breach has no link and impact on hardware wallets, crypto assets, or Ledger Live security, ensuring the company.

The company has since then informed all of its customers about the situation, and those whose detailed personal information is exposed have been sent dedicated emails.

Ledger has also notified the CNIL, the French Data Protection Authority, which ensures that data privacy law is applied to the collection, storage, and use of personal data.

Last week, they partnered with Orange Cyberdefense to assess the situation and are actively monitoring the evidence of databases being sold on the internet.

The company is now extending the scope of its security and organizational program to e-commerce, which initially focused on Products (HW and Vault). Further steps are taken to meet the requirements listed in ISO 27001.

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Author: AnTy

Defunct QuadrigaCX Exchange Victims Are Being Contacted By The FBI

The Federal Bureau of Investigation is now reaching out to QuadrigaCX victims via email in what appears to be confirmation that the federal agency has started carrying out investigations to try and establish what could have led to the collapse of the Canadian cryptocurrency exchange platform.

Valerie Gauthier, a victim specialist has been emailing multiple people who had engaged in dealings with the platform. According to multiple exchanges that she has engaged with the victims, she is looking to alert them about a news portal that contains information and details about the case against the crypto platform. In some of the exchanges that have been shared with CoinDesk, Valerie notes that:

“A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at its time,” she went on to add that the victims could get in touch with the federal agency by writing an email to [email protected]

She was, however, quick to state that:

“inquiries about the status of the case will not be addressed.”

It appears that the agency has been conducting its own investigations into the collapse of the platform since early 2019. The FBI had released a statement in June last year stating that it was interested in speaking with people who had worked with the cryptocurrency exchange.

Public Questionnaire

The agency had at the time sent out a public questionnaire it wanted the public to fill and submit to them. Multiple people who spoke to CoinDesk noted that they had filled the questionnaire and sent it back to the agency.

So far, the federal agency is among four other national agencies that are interested in looking into the operations of the crypto company. The Canadian Royal Mounted Police has also been undertaking its own investigations.

Payment Processor

On other news, Roger Knox, on Monday went before a judge in Boston and pled guilty to engaging in securities fraud. You should note that Roger is the operator and founder of Wintercap, the Swiss-based asset management company.

He is accused of being a part of numerous schemes aimed at manipulating the market, including taking part in microcap securities pump and dump operations.

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Author: Daniel W

Estonian Authorities Leak Over 200 Email Addresses From Crypto Trading Companies

The authorities from Estonia have leaked the email addresses of over 200 crypto trading firms during a recent data breach. The Estonian Police and Board Guard recently started a plan to follow anti-money laundering activities in the country, so it emailed several companies in the country with questions that should be answered.

This email’s recipients were not hidden, however, which has shown to the world the email addresses of several other companies and prompted people in the crypto industry to claim that the police were very irresponsible.

In the email, all crypto companies were given a total of four weeks to answer. Participation was deemed mandatory as they should release data about their operations to the authorities so that the police could fight money laundering and terrorism.

The guidelines of the email are backed by the Estonian law, but the European Union’s General Regulation and Personal Data Protection laws require a level of confidentiality in this kind of dealing, and the authorities seem to have failed at that, which can cause a lawsuit.

This is not the first time that this kind of incident happens in the industry. In fact, it is the second this month. Some time ago, BitMEX also shared the emails of several customers by sending a mass email, which caused several people in the industry to criticize it.

Data privacy is being taken more seriously every day and yet companies and institutions fail to uphold their responsibility to protect the privacy of their clients. Unfortunately, while these problems are not completely overcome, we’ll continue to face issues in the industry.

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Author: Gabriel Machado

BitMEX: Only User Emails Were Leaked as They Update Clients on the New Indices

BitMEX crypto exchange released an apology on its blog post after email data was disclosed from their system over the weekend. The firm has assured its clients that their team is working 24/7 to ensure all security concerns are addressed.

BitMEX Email System Leak

Crypto trader emails were recently leaked when BitMEX was ending an index weighting upgrade update to its users. The digital exchange has come out to say that they rarely send emails and the recent disclosure was unfortunate. BitMEX found themselves in this situation after their internally designed email distribution system included a concatenated “To” function which resulted in the leak.

Basically, the email recipients can see other users’ addresses under the “To” function. BitMEX further defended themselves noting that their engineers were not to blame but the processes. According to the publication by its Deputy Chief Operating Officer, Vivien Khoo, the firm had not done a proper QA for the single SendGrid API.

The leak has affected most BitMEX users and the firm recommended self-diagnosis for its users to determine whether their emails were leaked. Users who received an email addressed to them only are not victims but those who “To” contained other addresses are at the risk of exposure. Some BitMEX clients, however, did not get any emails as the process was stopped immediately when they detected a leak.

Security Steps Taken by BitMEX

Since the disclosure was discovered, BitMEX employees have been working round the clock to minimize the risk affiliated with the event. Most notably, they have taken the initiative to flag accounts with suspicious activity between now and when the disclosure occurred. This includes those that do not have a 2FA or may have requested to withdraw BTC to an unfamiliar address.

In addition, BitMEX urged its clientele to be vigilant against phishers who intend to scam them online using their “name”. They should also make sure that they have enabled two-factor authentication and rely only on BitMEX’s official communication channel.

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Author: Lujan Odera