Square to Receive BitLicense in New York

The company applied for the BitLicense back in March
19 June 2018   659

The provider of payment solutions Square received the seventh BitLicense account - a special license that gives the right to conduct business in the state of New York. This is stated in the message of the Department of Financial Services of the State of New York (NYDFS).

NYDFS Twitter
NYDFS Twitter

DFS is pleased to approve Square’s application and welcomes them to New York’s expanding and well-regulated virtual currency market. DFS continues to work in support of a vibrant and competitive virtual currency market that connects and empowers New Yorkers in a global marketplace while ensuring strong state-regulatory oversight is in place.
 

Maria Vullo

Superintendent, NYDFS

As noted in the NYDFS report, the agency carried out a comprehensive analysis of the Square application, including the company's policy on combating money laundering and fraud, its capitalization, consumer protection and cybersecurity policy. The new licensor is subject to constant supervision by the Department.

We are thrilled to now provide New Yorkers with Cash App’s quick and simple way to buy and sell bitcoin. Square and the New York State DFS share a vision of empowering people with greater access to the financial system and today’s news is an important step in realizing that goal.
 

Brian Grassadonia

Head, Cash App

In January Square made the purchase and sale of bitcoin available to almost all US citizens, with the exception of Wyoming, New York and two other states where the regulation of the sphere is particularly strict. The company applied for BitLicense in March.

G Suite & Target Twitter Accounts Hacked

Scammers hacked verified G Suite and Target Twitter account to use it for another fake "crypto giveaway"; 5.8634 bitcoins received
14 November 2018   99

Twitter accounts of one of the leaders in US retail Target and Google G Suite services were hacked by unknown, who immediately announced the free giveaway of bitcoins. The legitimate owners returned access to their pages quickly enough, but fraudsters still managed to get about $ 30,000.

After hacking the account G Suite, which has more than 800k subscribers, announced the distribution of 10 000 BTC. As reported by The Next Web, this post was deleted after 10 minutes. At the moment, Google has not commented on the situation.

Scammers message
Scammers message

Account Target, which has a little less than 2M subscribers, announced the distribution of 5 000 BTC.

Representatives Target confirmed hack of account, starting an investigation into the circumstances of the incident.

Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now.

As exploers show, there were no transfers to the of hackers of the G Suite account. However, with the help of a post on the Target page, attackers were able to get 5.8634 bitcoins.