Another Free Ransomware Decryptor Released

Emsisoft launched a free tool that decrypts files affected by a variant of the Tycoon ransomware attack. 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…

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

Wu Xiaoling highlighted the benefits of the Bitcoin network and highlighted some of the weaknesses it faces nowadays. 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…

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If Bitcoin Closes Above $10,500, Expect an Explosive Rally to $14,000: Analysts

Bitcoin has seen quite the volatile past seven days. The cryptocurrency broke out on June 1st past $10,000, rallying as high as $10,450 on major exchanges in a move that liquidated dozens of millions worth of short positions on BitMEX. The move was notable. So notable that a prominent analyst, Raoul Pal of Real Vision and formerly of Goldman Sachs said that it was BTC’s “biggest chart pattern break out thus far.”   But as quick as the asset rallied, it was rejected at $10,500. The cryptocurrency plunged $1,600 in three…

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

Joel Telpner reveals some of the steps the Marshall Islands is taking to launch its national digital 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.”…

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Patoshi Researcher Says “Altruistic” Satoshi Will Never Spend His 1.1M Bitcoin

Bitcoin founder Satoshi Nakamoto will never spend his “1.1 million bitcoins” because he is altruistic, Patoshi Pattern researcher Sergio Demian Lerner has said. The Patoshi Pattern exploits privacy flaws of an early protocol, v.01, to identify blocks possibly minded by Satoshi Nakamoto. Lerner said the Bitcoin creator is unlikely to use his coins, which have not moved since 2009, as a fair basis for the inception of the cryptocurrency. During a recent Ask-Me-Anything (AMA) session on Reddit, Lerner tied his assumption to the fact that the 1.1 million BTC attributed…

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

Kakao’s KLAY token is now trading with a South Korea won pairing despite the country’s restrictions on ICOs. 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…

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Here’s the Single Factor that Could Trigger a Bitcoin Selloff to $7,600

Bitcoin has entered a firm consolidation phase as it struggles to garner any notable upwards momentum It does appear that the resistance existing within the upper-$9,000 region is insurmountable, with another rejection here potentially proving to be grave There are a few factors that suggest the cryptocurrency is poised to see some notable downside in the days and weeks ahead One such factor is the existence of a CME futures gap at $7,600. This coincides with other analyst’s downside targets Bitcoin has seen some turbulent price action throughout the past…

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The Latest Ransomware Victim is a NASA Contractor

A DopplePaymer ransomware attack reportedly targeted one of NASA’s IT contractors in the United States. 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…

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Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be for everyone. The United States Federal Reserve has expanded a great deal since the start of the coronavirus outbreak and a few months prior as well. This week a letter to Senator Tom Cotton from Fed Chair Jerome Powell indicates the…

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Revolut Confirms Firing 62 Employees in the Wake of Coronavirus

London-based tech startup Revolut confirmed its employee downsizing numbers. 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…

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