Hackers Breach Amazon Cloud to Mine Bitcoin

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According to a recent report by security intelligence group RedLock, hackers were able to breach into the Amazon Cloud services of two companies in order to mine Bitcoin. Amazon Cloud Used for Bitcoin Mining In a recent article,Business Insiderreported that hackers were able to hack into the AWS cloud services&8217 infrastructure of two companies in order to mine Bitcoin. According to the security firm RedLock, the two affected companies wereAviva and Gemalto. The security firmnRead MorenThe

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Malaysia’s Central Bank Signals Year-End Bitcoin Ban

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Malaysias Central Bank Signals Year-End Bitcoin Ban

Malaysia central bank Governor is taking bitcoin cues from China. His glib statements are attracting widespread regional attention, as Southeast Asia’s 4th largest economy attempts to reconcile notorious financial conservatism with radical financial change.

Also read: Malaysian Central Bank Focuses on Adapting Fintech Regulation

Malaysia, Regional Fiscal Powerhouse

Asian Institute of Finance (AIF) hosted its 9th International Conference on Financial Crime and Terrorism Financing (ICFTF) 2017 in Kuala Lumpur, Malaysia.

AIF is the promotional arm for both the country’s central bank, Bank Negara Malaysia (BNM), and its regulatory body, Suruhanjaya Sekuriti Securities Commission Maylasia.

ICFTF’s keynote was given by Tan Sri Muhammad bin Ibrahim, BNM Governor since 2016.

Fifty years at an average 6.5 percent growth rate will do that, as will outperforming Australia and France …

The conference billed itself as exploring “current and new trends in financial crime and the next generation of detection and technological capabilities expected of anti-financial crime professionals to meet global and regulatory expectations.”

In addition to BNM’s Mr. Ibrahim, this year’s ICFTF listed talks by global law enforcement outfits such as the US Department of Justice’s East Asia and Pacific Regional Legal Advisor for Cybercrime. In half-a-dozen plenary sessions speakers also included major banks, international businesses, and service providers.

Such an august lineup is proof enough Malaysia has arrived on the world financial stage.

Fifty years at an average 6.5 percent growth rate will do that, as well as economically outperforming Australia and France (World Economic Forum’s recent Competitive Rankings).

Old Wine, New Bottles

As a result, there’s probably little wonder the country views a decentralized, unregulated currency as perhaps nothing more than a potential wrench thrown at its half century boom.

Previous official dispatches on bitcoin have been dismissive, terse.

Prior to Governor Ibrahim’s tenure, BNM issued notice in 2014, “The Bitcoin is not recognised as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.”

Bank Negara Malaysia Signals Year-End Bitcoin Ban
BNM Governor Muhammad Ibrahim

Fair enough. Be careful. This isn’t something we’re going to endorse nor protect you from, seemed to be the country’s official stance.

Just Wait

Mr. Ibrahim finished his formal ICFTF remarks and soon addressed reporters.

“This (ban on cryptocurrencies) is something that we will decide on by the end of the year,” he said.

A Malaysian cryptocurrency acceptance would mean “collecting the data, and also making sure whatever they do will be (made) transparent,” The Malaysian Insight quoted him as saying.

The tabloid reiterated how “guidelines would also address the risks associated with money laundering and terrorism financing in Malaysia,” by now an all-too familiar trope.

“Just wait,” he scolded. “Now is only October. In less than three months, we will give you the details.”

Bitcoin enthusiasts are waiting.

What do you think? Will Malaysian government bans have any negative impact on bitcoin? Tell us in the comments.


Photos courtesy of: ZyZiXuN.net, Saw Siow Feng


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. 

The post Malaysia’s Central Bank Signals Year-End Bitcoin Ban appeared first on Bitcoin News.

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BMCHAIN ICO Ends Today, HitBTC Exchange Listing to Follow

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The BMCHAIN team reported on the successful completion of negotiations with one of the largest cryptocurrency exchanges in the world. Recently, HitBTC officially announced plans to add BMT in its listings already in October. It is stated that the token will be traded in pairs with BTC and ETH. Note This is a press release. HitBTC is included in the Top Exchanges by the daily trading volume. Over the past day, the total volume ofnRead MorenThe post BMCHAIN ICO Ends Today, HitBTC Exchange Listing

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Support for Segwit2x, the New York Agreement, and the Upcoming Bitcoin Fork Explained

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The post Support for Segwit2x, the New York Agreement, and the Upcoming Bitcoin Fork Explained appeared first on 99 Bitcoins.nA little over three months ago,SegWit, a Bitcoin upgrade, was activated after a long and hefty debate. The result of this debate also created an altcoin called Bitcoin Cash, which was created as the opposition to the Segwit solution. Now, we&8217re on the verge of another split in the Bitcoin network called Segwit2x. For a …n

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Bombardier’s new Global 7000 makes trade show debut

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MONTREAL (Reuters) – Bombardier Inc’s largest business jet is making its debut on Sunday in Las Vegas, giving a glimpse of the ultra long-range plane the Canadian company is counting on for growth at a time of sluggish industry sales and as it fights a trade battle over a separate jet.

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Altcoin Exchange Performs First Atomic Swap Between Bitcoin and Ethereum

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Altcoin Exchange Performs First Atomic Swap Between Bitcoin and Ethereum

On October 7, 2017, the decentralized cryptocurrency trading platform Altcoin Exchange announced the team performed the first atomic swap between the Ethereum and Bitcoin blockchains. The exchange says this is the startup’s first step towards creating a trustless exchange process.

Also Read: Bitcoin Illegal in Nepal? Police Arrest Seven Individuals for Trading Operations

Altcoin Exchange Performs the First Atomic Swap Between Bitcoin and Ethereum

Altcoin Exchange Performs First Atomic Swap Between Bitcoin and EthereumIn the cryptocurrency space, atomic swaps are a pretty hot topic, and there are only a few blockchains that have exchanged this way. Atomic swaps allow two parties to transact between two blockchains in a trustless manner without counterparty risk. So far only a few altcoins have performed this function with bitcoin; including currencies like litecoin, decred, and vertcoin. On October 7th the Altcoin Exchange development team processed a swap between both bitcoin and ethereum networks.

“We have completed the very first  Ethereum <> Bitcoin atomic swap! More details coming soon,” the Altcoin Exchange team announced this week.

The Altcoin Exchange team transferred 0.12345 ETH for 0.12345 BTC using an on-chain open source process. Altcoin Exchange plans to launch the project’s Github repository this Tuesday, the company’s CEO Andrew Gazdecki told news.Bitcoin.com.

The Centralized Trading Model Will Soon Be a Memory of the Past

Gazdecki tells us that decentralized exchanges are the “future of cryptocurrency trading” and atomic swaps will be a big part of the business model. Altcoin Exchange believes the team’s demonstration of an atomic swap between ethereum and bitcoin means the centralized trading model is soon to be a memory of the past. Gazdecki explains that atomic swaps will replace traditional exchange transactions with a more secure method and just as speedy.

Since 2011 Twenty Six Cryptocurrency Exchanges Bit the Dust – Altcoin Exchange Believes Atomic Swaps Will Prevent These Losses

Altcoin Exchange Performs First Atomic Swap Between Bitcoin and EthereumThe team at Altcoin Exchange says they still has some work to do with the code as far as privacy and order matching comes. The group says they are also thankful for the decred development team and Litecoin’s Charlie Lee for help pioneering the atomic swap effort.

“Since June of 2011, 26 exchanges have been compromised, resulting in the loss of millions of dollars worth of coins. To prevent more of these types of hacks, decentralized exchanges are needed, and atomic swaps bring us one step closer to achieving this goal,” Gazdecki explains to news.Bitcoin.com.

What makes the technology behind Atomic Swaps so exciting is it allows for nearly instant direct trades between cryptocurrencies. We believe this to be a critical component for creating a truly decentralized exchange that executes transactions at the same speed in which centralized exchanges are able to but without the risk of hacking and theft.

The atomic swaps performed by Altcoin Exchange between the bitcoin and ethereum blockchains can be viewed here with the swap initiation, the participation, and redeem A and redeem B.

What do you think about the first atomic swap between bitcoin and ethereum? Let us know in the comments below.


Images via Shutterstock, the Altcoin Exchange, and Pixabay.


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