Venezuela can issue own cryptocurrency

Venezuelan authorities together with Onixcoin are working on own cryptocurrency
10 October 2017   1220

In connection with the extremely difficult economic situation in the country, Venezuelan authorities are considering the possibility of creating their own crypto currency. This is reported by The Merkle.

As the newspaper notes, the central bank of the country seriously thought about the creation of a national crypto currency. This measure is forced, because, according to experts, it can help to overcome hyperinflation. Together with the central bank of Venezuela, Onixcoin is working on the concept of the national crypto currency.

Also, the government of the South American country is considering various opportunities for development of mining in Venezuela.

Because of the raging hyperinflation in Venezuela cryptocurrencies are in high demand. In particular, local businessmen agree to accept even digital collector cards with Pepe frog, created on the Counterparty block-platform.

On the other hand, the Venezuelan authorities are severely suppressing the production of crypto-currency, accusing the miners of Internet fraud and the theft of electricity.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   125

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.