Chinese Central Bank: Digital Yuan also works with WeChat and Alipay

More and more details about the digital yuan are coming to light.

The planned digital yuan is said to work with the main payment networks in the country

Mu Changchun, head of the digital currency research institute at People’s Bank of ChinaChina, said the digital yuan issued by the central bank will work with major mobile payment service providers such as WeChat Pay and Alipay.

According to a report from the South China Morning Post, Mu said at a conference that the digital yuan will not compete with Bitcoin Billionaire and Alipay:

„They don’t operate in the same dimension. WeChat and Alipay are wallets, while the digital yuan is the money in the wallet.“

These statements contradict previous reports from local sources that China is planning to launch its digital currency as an alternative to the two payment giants.

The digital yuan is currently available to selected users via an exclusive mobile wallet application. At the conference, Mu said that among the mobile wallets for the digital yuan, there are also fakes. Several such fake digital wallets for the yuan are already on the market.

Mu said reducing the impact of counterfeit wallets was only possible if everyone involved, from the central bank to users, took the necessary precautions

Mu also stated that the digital yuan operates with a centralized infrastructure. This distinguishes it from private currencies such as Facebook’s Libra and Bitcoin ( BTC ).

China is making rapid strides on its central bank digital currency . Last week, it published a bill to create a legal framework for the digital yuan. The central bank is currently conducting pilot tests for its CBDC across the country.

Local authorities distributed $ 1.5 million worth of digital yuan to 50,000 out of 1.9 million people who applied for a giveaway.

Kraken security chief warns of fraudulent crypto listings

Kraken is warning the crypto community against a new type of fraud.

The crooks thus pass themselves off as the exchange in order to target crypto projects about an alleged listing on their platform.

Malicious individuals use LinkedIn and Telegram to achieve their ends

These days, it’s not easy being a blockchain startup. The regulatory landscape is blurry to say the least, and worst of all, scammers are targeting you. Currently, it is precisely against this that the cryptocurrency exchange Bitcoin Era is warning the community.

Kraken Security Chief Nicholas Percoco announced in a tweet that there is a “very active” scam that is currently targeting the crypto community. The bad guys have created a number of false identities and disguise themselves as „members of the ‚Kraken Listing Team,‘ he explained, adding that they are using Telegram and LinkedIn for their scam.

These are NOT Kraker employees, but actually fake accounts used by crooks.

Phishing scam

The phishing scam targeting Kraken is part of what is called “Punycode phishing”. Attackers thus use Unicode characters that mimic its well-known brand. In this case, Mr. Percoco says to pay attention to the letter “k” used in the e-mail system. Security chief Kraken points out that the company would never be the first to contact a project about a listing. He made it clear that the process begins with an email to the exchange from the project developers – not the exchange on social media.

After making contact, they will continue with an email. They will ask for this, if they don’t already have it with LinkedIn or Telegram.

Their email will be sent from a Punycode domain that looks more or less legitimate.

Note: these are not the “ks” you are looking for.

Phishing attacks on the rise in the crypto sector

Kraken is not the only exchange to be targeted by phishing attacks, far from it. Last month, the US Department of Justice announced that two Russian nationals, Danil Potekhin and Dmitrii Karasavidi, have been charged with defrauding three crypto exchange platforms and their clients over nearly $ 17 million. In addition, the US Department of the Treasury said it has taken sanctions against Russian nationals for prosecuting US victims in “malicious cyber activity”.

Bitcoin do Espaço: BitMEX instala o nó de satélite BTC do Blockstream

BitMEX, uma das principais bolsas de derivativos de moeda criptográfica do mundo, criou um sistema de satélite Bitcoin para operar um nó sem a necessidade de conexão à Internet.

Uma das principais e populares bolsas de derivativos Bitcoin do mundo, BitMEX, instalou o sistema de satélite Bitcoin da Blockstream.

É uma forma de baixar e verificar a cadeia de bloqueio do Bitcoin Loophole através de um satélite sem ter que estar conectado à Internet. Além do fato de uma das principais trocas estar mostrando um suporte aberto para o Bitcoin, isto também apresenta características empolgantes da maior moeda criptográfica do mundo e sua rede subjacente.

Bitcoin do Espaço: O BitMEX executa um nó de Bitcoin completo através de um satélite

Em um post publicado hoje, BitMEX, um dos líderes mundiais na troca de margens Bitcoin, anunciou que instalou com sucesso um nó de Blockstream Bitcoin Satellite.

A equipe concluiu que a instalação do nó foi relativamente fácil, e levou apenas algumas horas. Em essência, o que se tem que fazer é „instalar a antena parabólica, apontar na direção certa, conectá-la a um laptop rodando Linux e executar algum software Blockstream personalizado, juntamente com uma versão modificada do Bitcoin Core 0.19.1“.

BitMEX revelou que a parte mais desafiadora foi o alinhamento real da antena parabólica com o satélite geoestacionário. Usando a ferramenta de alinhamento corretamente, contudo, significava que a equipe tinha que passar cerca de 15 minutos depois disso para que ela fosse montada.

Um destaque importante da rede

Além de apoiar a rede, em geral, os pés destacam uma das qualidades importantes da rede Bitcoin – a resistência à censura.

Uma das perguntas mais comuns que as pessoas geralmente fazem é: „O que aconteceria com a Bitcoin se a Internet parasse?“.

Bem, se a conexão via satélite tiver largura de banda suficiente, esta é uma solução perfeita para esse problema. É uma maneira de baixar e verificar a rede Bitcoin através de um satélite, sem ter que estar conectado à rede mundial de computadores.

É claro, como BitMEX apontou corretamente:

Embora muitos entusiastas do Bitcoin provavelmente achem a instalação e o funcionamento do sistema agradável, é improvável que ele sirva para qualquer propósito prático para a maioria dos usuários.

Week in crypto: BitMEX and Donald Trump caused tension in the markets

Once again we have a hectic week where two news items have threatened the stability of the crypto market and Bitcoin.

What a week the crypto market has had! This 2020 has been quite busy, crypto markets are not exempt from it, not even Bitcoin. Today we bring you the week’s highlights so that nothing takes you unawares.

Highlights of the week

It’s been such a busy week that we can’t believe it’s finally over. Today we summarize everything that has caused the charges against BitMEX and the news related to the president of the United States, Donald Trump, in the crypto market.

BitMEX: Is Bitcoin shaking?

We will start with the BitMEX news because it generated a lot of controversy in the crypto social networks. Mainly because of concerns about the impact the news would have on Bitcoin.

On October 1 we reported in Crypt Trend that the U.S. Commodity Futures Trading Commission (CFTC) filed charges against BitMEX for operating illegally in the country and failing to comply with anti-money laundering standards.

However, it does not end there. BitMEX was also charged the same day by the Federal Prosecutor for the District of New York, who filed criminal charges against the owners of the crypto exchange; Arthur Hayes, Ben Delo and Samuel Reed, for conspiracy and violation of the Bank Secrecy Act.

The news, as expected, led to a relatively slight drop in the price of Bitcoin. In this regard, the crypto community on Twitter noted that Bitcoin was proving resilient.

Still, there was concern. In fact, Nic Carter, co-founder of Coin Metrics, pointed out at the time that BitMEX had around $2 billion in BTC crypto.

The concern at the time was that there would be problems with withdrawing the funds. However, BitMEX began to process withdrawals in order to prove that the funds were safe.

But the withdrawals were such that within hours BitMEX had already experienced an exodus of over 40,000 Bitcoin reported Glassnode.

Added to this, according to BitInfoCharts data, Bitcoin’s average transaction fees doubled last week. Thus, the average rate for yesterday was $2.44; on September 27 it was $1.55.

Trump, a debate, COVID-19 and the crypto market

This week saw the Donald Trump v. Joe Biden presidential debate, which was described by many as the worst debate they had ever seen.

Clearly, the immediate question that emerged on the social networks after the debate: Do we have to choose between these two options? Was one of them the winner of the debate?

Not to mention that Donald Trump later tweeted that he had been a clear winner. Of course, many questioned this.

Media such as El País carried out their own analysis and in the case of the latter, their prediction is that Joe Biden is the favourite to win the elections.

But, we in the crypto community, can also look to predictive markets such as FTX and Augur. During and after the debate these markets saw significant movement; most pointed to Trump as a clear loser.

However, also this week, the US President announced that he had tested positive for COVID-19; which changed everything.

Crypto forecasting markets such as Augur have Joe Biden as their favourite, but some point out that COVID’s diagnosis could help Trump quite a bit.

In fact after the news, Biden’s chances of winning the election fell by over 5%, according to FTX election prediction contract data.

However, the global markets did not react very well to the news and were stained red on Thursday afternoon. Primarily because the news came when they failed to approve the $2.2 billion aid package.

Crypto healthy market, especially Bitcoin

A few years ago the two previous news stories would have rocked the crypto market and probably brought down the price of Bitcoin (BTC). Nevertheless, crypto managed to hold on.

Thus we begin the month with an upward trend. At the start of this week, Bitcoin Review was valued at $10,900. On Thursday it fell around $400, to recover a little before falling another $200 on Friday.

However, the leading crypto is currently valued at $10,640 according to the CryptoTrend tool, Crypto Online. So we can see some maturity in the market.

Crypto Research: Do Ethereum miners manipulate the blocks?

This week we reported in Crypto Trend that, according to a report carried out by researcher Frank Topbottom, Ethereum miners manipulate the blocks.

The question to be answered is: For what purpose? Well, basically they are doing it to take advantage of the DeFi boom and, believe it or not, it is not an illegal action under the rules of the network.

50 BTCs from the Satoshi crypto era appear

One of the perhaps most curious news items this week is that 50 Bitcoins from the Satoshi era were moved to a Bitfinex wallet.

Yes, those Bitcoins were extracted in May 2010, before Satoshi Nakamoto disappeared. So it caused a lot of speculation in the crypto community, especially on Twitter.

The news came just as the Bitcoin balance on the crypto exchanges fell to a low of 23 months.

Two obsolete blocks in the Bitcoin Blockchain!

Yes, this week two obsolete blocks were found in the Bitcoin Blockchain. No, this is not the first time.

The obsolete blocks indicate a bad propagation of the network. They result in wasted work, less test work, which can make the network easier to attack.