Subject: SCN Daily News (HTML) Monday, 12 August 2019
Date: 12/08/2019, 10:17

Smart Card News Online

Monday, 12 August 2019

Coinbase Stops Hack Attack Targeting 200 Employees

The California-based digital currency exchange Coinbase stops hack attack that could potentially have left the exchange with loss of billions of dollars. The said hack targetted over two hundred employees in the exchange; however, swift action allowed the exchange to overcome the hacking attack that could have caused devastating losses to the company and investors.

Link: Cryptopolitan

Cryptocurrency Patent has been Applied by Walmart

Walmart registered for a patent for "digital currency" on July 31 which is attached to fiat, maintained by the blockchain, which is a stablecoin. Another patent filing proposes that United States Walmart might develop its own U.S. dollar-backed digital currency, which resembles Facebook's cryptocurrency Libra.

Link: CryptoNewsZ

Majority of Drivers get the WRONG Answer in Police Poll about using Mobile Payments at Drive-thrus

Victoria Police posted a poll on Facebook about the little known rule and saw well over half of voters get the answer wrong.

'If you intend to use your mobile phone to pay at the drive-thru window, apply the hand brake, switch the engine off and then access your mobile phone,' Victoria Police wrote.

Link: Daily Mail

Visa Contactless Cards Vulnerable to Fraudsters

A newly discovered vulnerability in Visa's contactless payment cards could allow fraudsters to bypass the payment limit of GBP 30.00.

For transactions over GBP 30.00, the proxy device intercepts the communication data between the card and the payment gateway, which prevents the verification process by the card and also transmits a false message to the payment gateways stating that the verification process has been achieved through other means, the researcher says.

Link: Bank Info Security

Has Binance Been Hacked?

Binance, which ranks as the top exchange by volume traded, said in a company statement today that the individual had demanded 300 bitcoin-the equivalent of more than $3 million-to halt the release of 10,000 photos showing "know your customer" data from the organisation.

Link: News Week

British Tax Authority Pursues Crypto Exchanges' Customer Information

To fight tax evasion, UK's tax, payments, and customs body, HMRC (Her Majesty's Revenue and Customs) is lobbying for customer information from crypto exchange platforms. HMRC is reportedly requesting customers' names and transaction details from virtual currency exchanges to identify tax evasion cases.

Link: Tron Weekly Journal

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