Luno Exchange Funds Frozen by Malaysian Tax Officials

Luno problems arose shortly after the central bank of Malaysia published a bill on the regulation of the sphere of cryptocurrencies
16 January 2018   118

London cryptocurrency exchange Luno faced issues with Malaysia's tax service. This is reported by Bitcoin.com.

On January 13, the Malaysian Internal Revenue Service (IRB) froze the account of the exchange at a local bank.

As part of this, IRB has requested that we provide them with information on all our Malaysian customers: identification, deposits/withdrawals, and transactions. We are working closely with the IRB to limit the parameters of this broad request. Navigating this requires everyone to work together to figure out optimal solutions to ensure the industry is safe and conducive to business — We are supportive of the recent measures by Bank Negara Malaysia to come up with reporting requirements for digital currency exchanges. As set out in our privacy policy, we value our customers’ privacy and strive to protect your personal information. We will only provide personal information where we are legally required to do so and are working with our local advisers to ensure that any disclosure is consistent with our obligations to you, our customers.

Luno Team

Malaysian users of Luno still have the opportunity to exchange bitcoins and Ethereum for the national currency. 

Luno problems arose shortly after the central bank of Malaysia published a bill on the regulation of the sphere of cryptocurrencies, which set out a number of requirements for companies operating in the region and citizens of the country.

Tesla's cloud account hacked to mine cryptocurrency

Independent security group discovered Tesla's cloud account being hacked and infected with a miner-virus
21 February 2018   23

Cryptocurrencies are on the rise and all sorts of shady characters are trying to get in with dubious methods. Recent string of hacking attacks is a perfect example. And now not only exchanges and users with their hard-earned coins are in danger, but also companies with large cloud infrastructure face the same threat.

RedLock, a security research firm, reports that electric car manufacturer Tesla's cloud account information has been leaked to the internet, which allowed hackers to access the company's cloud. It has been hacked and hardware infected with a miner virus called Stratum. The mining protocol masks itself with low CPU usage and obscuring the IP of the mining server.

Of course, RedLock immediately contacted Tesla with this information and the company quickly got to fixing the breach. Tesla's spokesperson assured us that customer personal information hasn't been compromised, and that the vulnerability was patched in a matter of hours. Only small test park of internally-used engineering sample cars has been impacted and no indication whatsoever discovered that actual customer cars have been compromised in any way.

It certanly looks possible, because according to the same RedLock Cloud Security Intelligence group mining profitability of Tesla's cloud is worth a lot more that all the customer data available could be sold for on the black market. This also isn't the first instance of such a hack with no data being stolen. In fact, hacks with intention of hijacking mining capacity has already targeted Gemalto, a world's largest SIM-card manufacturer, and Aviva, a British insurance company, just to name a few.