Three Crypto Exchanges in Chile closed by State Bank

Banco del Estado de Chile gave the notice to Chilean cryptocurrency exchanges Buda, Orionx, and Cryptomkt that their accounts will be dropped
03 April 2018   1137

This happens after the exchanges were also targeted with account closings by Itaú Unibanco Holding S.A. of Brazil and The Bank of Nova Scotia (Scotiabank of Canada). Regional news branch El Mercurio announces Banco del Estado de Chile (Banco Estado) is shuttering the accounts of three cryptocurrency exchanges. “Banco Estado adopted the decision,” a bank statement explained, “for now, not to operate with companies dedicated to issuing or creating, brokerage, intermediation or serve as a platform for cryptocurrency calls.”

Banco Estado is the only public bank in the country, which is directing all the governmental financial activity. It is traditionally focused on serving small businesses and the unbanked. It is Chile’s largest owner of debit cards. It is the third largest bank in the nation, and constantly valued as the safest bank in Latin America.

El Mercurio underlines that Banco Estado was the final chance for these three exchanges, which have also been compressed by Scotiabank and Itaú prior to the state bank’s announcement. This allegation was the only mention by the bank as for why it is closing down the accounts of the exchanges.

Orionx replied the newspaper it wasn’t the end of the world and also convinced that  users’ money is “fully backed and there is no insolvency risk.” Also Pablo Chavez of Buda claimed that the summary closings may let him launching a bank of his own, but he looked apathetic about those objects. Martín Jofré of Cryptomkt echoed Mr. Chavez, admitting Banco Estado has a financial lifeline.

Last month the above-mentioned cryptocurrency exchanges called on the country’s banking association in order to point out a clear position on the matter. Similar tactic had been often used in different countries under the pretext of money laundering or tax avoidance. Last year fall revealed a few banks in Singapore stopped doing business with several startups operating with cryptocurrencies. In Kuala Lumpur (Malaysia) the trading platform Luno had its bank account frozen by the tax officials.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   266

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.