"Latin America’s Reddit" with Bitcoin tipping hacked

Taringa, Latin American social site with Bitcoin tipping, hacked and nearly all of the users' data compromised
05 September 2017   1544

Taringa, Latin American social site with Bitcoin tipping, has fallen prey to a hackers' attack and nearly all of the users' (which is about 28 million) data has been compromised.

According to cointelegraph.com, Taringa had instituted a system to pay users for content production using Bitcoin. The site even partnered with Xapo to create digital wallets for content producers. Now hack of data may allow access to those wallets.

It is likely that the attackers have made the database containing nicks, email addresses and encrypted passwords. No phone numbers and access credentials from other social networks have been compromised as well as addresses of bitcoin wallets from the Taringa program!

Taringa's statement translated by cointelegraph.com

As reported, Taringa was using an aging encryption system for passwords called MD5. The hackers managed to to crack 95% of the 27 million passwords. Taringa has assured customers that wallet addresses were not compromised. However, the surety of the promise actually remains unclear.  

Bithumb Filed Appeal Against Korean Tax Office

Looks like the korean exchange doesn't really want to pay an additional tax worth $67 000 000
16 January 2020   97

The South Korean cryptocurrency exchange Bithumb has filed a complaint against the National Tax Service (NTS) because of the requirement to pay additional taxes for the transactions of its foreign customers.

The company claims that cryptocurrencies do not have an official status in the territory of South Korea, which is why the authorities cannot have sufficient reasons to levy any taxes.

The tax court will have to decide within 90 days whether to retain or withdraw from Bithumb the obligation to pay the $ 69.1 million tax that was assigned to it by NTS in November. The Office declares that the withdrawal of income from accounts in Korean won by foreign residents is a taxable event. It is assumed that the exchange itself had to withhold tax from its foreign customers.

We paid the full amount and have since been preparing for arguments. We believe we will be given a chance to clarify our stance in court.



 The ministry has its own position on this issue.

Bitcoin under the current law is not an asset. It is clear and simple. The Ministry of Economy and Finance already made that clear. The NTS pushing ahead with the tax imposition is baseless and groundless, especially since it is still awaiting the ministry opinion on the same matter it sought again.


Choi Hwoa-in

Adviser to Financial Supervisory Service

According to the expert, the NTS maneuver is well thought out and aimed at starting to levy a tax on income that is currently not taxable.

We cannot comment on the ongoing matter. We will await the judgment from the Tax Tribunal.



Earlier, Bithumb was ordered to pay an additional $ 67 million in tax.