Russia puts cryptocurrency under a ban

Russian parliamentarians have developed a package of bills that assume administrative and criminal responsibility for the use of cryptocurrencies. Experts believe that such measures can lead to the destruction of the blockchain industry in Russia.

"People who currently own cryptocurrency will be forced to get rid of it before the law comes into force, or risk "going underground", and this is a loss or risk," said Dmitry Kirillov, a senior tax lawyer at Bryan Cave Leighton Paisner. Based on the amendments, mining or exchanging 3.5 bitcoins will lead to criminal liability.

Penalties are provided for any use of digital assets, from the organization of a crypto exchange and mining farm, attempts to pay with cryptocurrency on the Internet. Fines range from 500 thousand rubles ($7,000) for individuals and up to 2 million rubles ($28,000) for legal entities.

Founder of the stable cryptocurrency platform Stasis.net Gregory Klumov called the new amendments "putting nails in the coffin of financial innovation and technological progress."
"In fact, it is proposed to build a new iron curtain in the digital economy with their own hands," said Yuri Pripachkin, president of the Russian Association of Cryptoeconomics and Blockchain.

Currently, in the Russian Federation, in addition to software, the hardware is being actively developed - means for storing tokens, cryptocurrencies. Many young specialists from the Russian Federation are already involved in this industry, and experts are worried that the adoption of this bill will put an end to the innovative economy.

Earlier, E Hacking News reported that, according to First Deputy Chairman of the Bank of Russia, Blockchain is not a panacea, and cryptocurrency is not money. So, the Central Bank of Russia is not going to change its negative attitude to these assets.

source https://www.ehackingnews.com/2020/05/russia-puts-cryptocurrency-under-ban.html

Comments

Betting and Gambling Websites under Cyberattack from Chinese Hackers

Since last year's summers, Chinese hackers have been targeting South Asian companies that own online gambling and betting websites. The gambling companies in South Asia have confirmed the hacks, whereas rumors of cyberattacks on betting websites have also emerged from Europe, and the Middle East, however, the rumors are yet to confirm, says the reports of cybersecurity group Trend Micro and Talent-Jump. Cybersecurity experts claim that no money was stolen in these hacks against the gambling websites. However, hackers have stolen source codes and databases. The motive of the attack was not a cybercrime, but rather espionage intended attack to gain intelligence. According to the experts, a group named ' DRBControl ' is responsible for the cyberattack. According to the reports of Trend Micro, the hacking techniques used in this particular cyberattack incident is similar to methods done by Emissary Panda and Winnti. All of these hacking groups are from China that has launc

Information security experts have warned Russians about bonus card fraud schemes.

Fraudsters several thousand times tried to illegally take advantage of discount bonuses of Russians in 2019. Some attackers gained access to customers' personal accounts, and then bought the products using bonuses, said Alexey Sizov, head of the anti-fraud department of the Application Security Systems Center at Jet Infosystems. According to him, a fraudster can register a personal account on a card that was issued to another person. The victim will accumulate points without knowing about the existence of his profile, and the attacker will write off bonuses, said Sizov. The expert added that this is mainly done by novice scammers. According to him, loyalty programs are poorly protected, unlike banking operations. He said that they are estimated at 50 billion rubles ($760 milliard) for the 30 largest retailers. Alexey Fedorov, Chairman of the Business Russia Trade Committee, said that in 2019, the number of bonus and discount thefts "increased significantly."

Provider Volia reported to the cyber police about the intense cyberattacks on the server

Cable provider Volia appealed to the Cyber Police on the fact of fixing a DDoS attack on the Kharkov servers of the company, which has been ongoing since May 31. "For three days, from May 31 to today, the Volia infrastructure in Kharkov is subjected to cyberattacks. At first, they were carried out only on subscriber subsystems, later they switched to telecommunications infrastructure. As a result, more than 100,000 subscribers experienced problems using the Internet, IPTV, multi-screen platform, and digital TV," said the company. In total, the complete lack of access to Volia's services, according to the provider, lasted 12 minutes on May 31, 45 minutes on June 1. There was also an attack on the website volia.com, but it was managed to neutralize. "DDoS attacks were massive and well-organized. The type of attack is UDP flood and channel capacity overflow with the traffic of more than 200 GB. UDP is a protocol used for online streaming services - streaming, te

Hacking and Cyber Security News

Search This Blog