Mastercard Will Start Supporting Cryptocurrencies Directly on its Network – Finance Bitcoin News

Mastercard Will Start Supporting Cryptocurrencies Directly on its Network – Finance Bitcoin News

Payments giant Mastercard has announced that it is preparing to allow a number of cryptocurrencies to move through its network directly. Customers, merchants, and businesses will no longer need to convert cryptocurrencies into fiat currencies to transfer through the Mastercard network. A state-affiliate cybersecurity expert warned about hackers exploiting the Russian government’s IT facilities to mine cryptocurrencies. The deputy Share
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Expertise is quick altering its gears. And there’s no room for the people who find themselves sitting and watching the change. To be a part of the long run, it’s essential to take motion and educate your self with each new factor […]

Mastercard Will Start Supporting Cryptocurrencies Directly on its Network

Payments giant Mastercard has announced that it is preparing to allow a number of cryptocurrencies to move through its network directly. Customers, merchants, and businesses will no longer need to convert cryptocurrencies into fiat currencies to transfer through the Mastercard network.

Mastercard announced Wednesday that it will start “bringing crypto onto its network.” In a blog post on the company’s official website, Raj Dhamodharan, Executive Vice President of Digital Asset and Blockchain, explained that “digital assets are becoming a more important part of the payments world.” He noted that customers are using Mastercards to buy cryptocurrencies, especially during bitcoin’s bull runs, elaborating:

We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work.

“We will be very thoughtful about which assets we support based on our principles for digital currencies,” the executive emphasized, adding that the same standard applies to stablecoins. “We are here to enable customers, merchants and businesses to move digital value,” he opined.

Dhamodharan pointed out that Mastercard is involved in a number of crypto projects, having teamed up with Wirex and Bitpay last year to create crypto cards that allow people to transact using their cryptocurrencies. The company then joined forces with crypto exchange LVL this year. “These relationships — with many more planned in the pipeline — build on our many years of crypto collaborations,” he said.

Even though Mastercard is involved in a number of crypto projects, Dhamodharan said that “cryptocurrencies still don’t move through our network. Our crypto partners convert the digital assets on their end to traditional currencies, then transmit them through to the Mastercard network.” He continued:

Our change to supporting digital assets directly will allow many more merchants to accept crypto — an ability that’s currently limited by proprietary methods unique to each digital asset. This change will also cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional [fiat currencies] to make purchases.

Lastly, Dhamodharan said that his company is “actively engaging” with several major central banks worldwide as they explore central bank digital currencies (CBDCs). “Last year, we created a test platform for these banks to use these currencies in a simulated environment,” he noted, adding that Mastercard already has “one of the payments industry’s biggest blockchain patent portfolios to draw from to make these projects successful.”

Commenting on the Mastercard news, bitcoin bull Mike Novogratz tweeted: “The Mastercard news is huge. A few months ago it would have been all the crypto community would focus on for the ensuing month. Now we are getting so much good news it almost goes unnoticed. Let me repeat. It is huge news. Crypto adoption is here.”

Recently, Mad Money host Jim Cramer said that Mastercard, along with Paypal and Elon Musk’s Tesla, is driving bitcoin more into the mainstream. Tesla revealed Monday that it has put $1.5 billion into bitcoin.

What do you think about Mastercard directly supporting cryptocurrencies on its network? Let us know in the comments section below.

Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: Finance

by
Kevin Helms


Expert warns Hackers are Targeting Russian Government's IT Infrastructure to Mine Cryptocurrencies – Security Bitcoin News

Expert warns Hackers are Targeting Russian Government’s IT Infrastructure to Mine Cryptocurrencies – Security Bitcoin News

Expert Warns on Hackers Targeting Russian Government's IT Infrastructure to Mine Cryptocurrencies

A state-affiliate cybersecurity expert warned about hackers exploiting the Russian government’s IT facilities to mine cryptocurrencies. The deputy director of the National Coordination Center for Computer Incidents believes such threat actors have been very active in recent times.

According to TASS, Nikolai Murashov pointed out that hackers managed to inject unknown malware into the infrastructure of Russian government entities, medical institutions, defense contractors, and even research institutes.

The cybercriminals then look for IT resources to use to illicitly mine cryptos. He added:

For the first time, there have been cases of the introduction of malicious software that encrypts user data into the information infrastructure of medical institutions.

However, the expert didn’t provide more details about the attacks during his speech at the XXIII National Information Security Forum “Infoforum-2021” in Moscow. Also, he didn’t clarify if some of these attacks are related to ransomware incidents.

Murashov raised red flags on the global cybersecurity landscape, as he considers it currently “tense.” He backs up his statement by saying that hackers have been actively targeting government bodies across the board to “steal information.”

The National Coordination Center for Computer Incidents was created by the Federal Security Service (FSB) in 2018. Among their tasks include detecting, warning and mitigating cyberattacks in Russia.

But crypto mining remains a low-profile type of cyberattack in current times. At least, that’s one of the findings published by the cybersecurity firm Group-IB in their “Hi-Tech Crime Trends 2020–2021” report.

Per the firm, crypto mining is not a highly attractive method for threat actors to provide funding, at least in Russia.

In fact, hackers actively rely on encrypting malware and then threatening to leak the encrypted info, asking for a ransom payment.

What do you think about the warning issued by the Russian government-affiliate cybersecurity expert? Let us know in the comments section below.

Source: news.bitcoin.com

Author: Security

by
Felipe Erazo


Darknet Market Joker’s Stash Retires After Raking in $1 Billion in Cryptocurrencies – Crypto Money Daily

Darknet Market Joker’s Stash Retires After Raking in $1 Billion in Cryptocurrencies – Crypto Money Daily

One of the largest darknet marketplaces for selling identity data and stolen credit card information, Joker’s Stash retired last month after making off with a cool $1 billion in cryptocurrencies. Weeks ago, U.S. and European officials seized some of the web portal’s servers tied to Joker’s Stash site, but were unable to completely shut operations down.

A number of reports indicate that the world’s largest darknet market (DNM), in terms of stolen credit card and identity sales, has called it quits after operating since 2014. Joker’s Stash explained in mid-January that the business would be closing shop in mid-February and it has followed through with the plan.

The blockchain analysis firm Elliptic detailed that the Joker’s Stash raked in more than $1 billion in cryptocurrencies during its tenure. Elliptic also revealed that the estimate was a conservative calculation based on the revenue Joker’s Stash took in during the years and all the fees.

On January 15, Joker’s Stash admins said the site would go dark on February 15, but Elliptic monitored the web portal and said the DNM went offline on February 3, 2021. Joker’s Stash had a lucky run up until 2020, when reports detailed that the owner of the DNM contracted the coronavirus and had to go to the hospital for seven days.

At the time, Joker’s Stash customers started complaining and having issues with card data and identification intel reliability. Both Krebs on Security and Gemini Advisory have published reports with a comprehensive analysis on the Joker’s Stash operations.

Ever since the admin caught Covid-19 and the weeks that followed, Gemini Advisory said the business saw a “severe decline” in volumes. The image below, created by Gemini shows the decline in Joker’s Stash CNP and CP data toward the end of August 2020.

But Covid-19 wasn’t the only issue Joker’s Stash operation dealt with in 2020, as the law enforcement officials from Europe and the U.S. stepped in as well. Interpol and the U.S. Department of Justice (DoJ) seized a number of its servers on December 16, 2020. But much like The Pirate Bay, Joker’s Stash set up new infrastructure on the web and operations continued until the retirement announcement.

“Joker goes on a well-deserved retirement. Joker’s Stash is closing,” the farewell letter said. “When we opened years ago, nobody knew us. Today we are one of the largest card/dumps marketplaces.”

Admins promised to leave the store’s “Stash” open for 30 more days and told people not to fall for any phony websites that could appear in the future. In capital letters, Joker’s Stash said that it would “never open again.” Joker’s Stash made it clear that customers should not trust any imposters going forward.

The hoard Joker’s Stash obtained from payment card records stemmed from firms that saw large data breaches over the years. Gemini Advisory said that Joker’s Stash data came from high-profile hacks that saw the loss of massive amounts of confidential customer data.

Merchants caught in the hacker’s crossfires include Whole Foods, Saks Fifth Avenue, Hilton Hotels, Hy-Vee supermarkets, and Lord and Taylor.

What do you think about the Joker’s Stash admins retiring after operating since 2014 and raking in $1 billion in digital assets? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: cryptomoneydaily.com


Top 5 Resources To Help You Educate Yourself On Cryptocurrencies

Top 5 Resources To Help You Educate Yourself On Cryptocurrencies

Expertise is quick altering its gears. And there’s no room for the people who find themselves sitting and watching the change. To be a part of the long run, it’s essential to take motion and educate your self with each new factor you see out there.

A good way to start out in direction of an awesome future is to teach your self about Cryptocurrency and Blockchain and their future potential. No different business has displayed such exceptional efficiency during the last decade.

In the event you’re a newbie, you would possibly discover the entire Cryptocurrency and Blockchain know-how a bit overwhelming. If you’re unsure about Cryptocurrency, The Crypto Genius might be a great help to you.

To help you get a deep insight into what Cryptocurrency and Blockchain technology is all about, we have prepared this article for you. Here we have assembled some of the best resources for you to educate yourself on Cryptocurrencies.

Some platforms are obvious, and some will surely surprise you. We are going to dissect them all and see how potent they are in terms of resources.

For everyone out there looking to enter the Crypto trade market, Community forums are the best place to educate yourself about Cryptocurrencies. Forums are created with a purpose, so you will find only the interested people joining the conversation.

As these forums are less crowded than teh social media platform, we can easily filter out unnecessary people and keep the conversation relevant, authentic, and clean. For instance, Cryptocurrency forums like Reddit are getting popular and are thriving more than ever.

Researching about a certain topic is a time-consuming process, and no matter how interesting a topic is, it can become boring at times. In the case of Cryptocurrency, which is a new concept in the industry, you will find that there is hardly any good information.

Fortunately, there are several Crypto based podcasts on iTunes and other platforms helping needy users like you. However, note that, before entering the world of Cryptocurrency podcast, ensure that you start your journey with episode one. Otherwise, you will hardly understand anything. By mastering these practices, you will see that you are advancing at a rapid pace.

When we talked about the Community forums, we have already talked about how to clean area matters. But that can not be said for social media platforms. Hence, the only way you can use social media platforms to educate yourself is by following verified account holders.

By implementing verification, social media have helped the user to find credible and authentic accounts. With the verified account, you can rest assured that the information shared by those accounts are credible and authentic.

While some believe that YouTube is a social media platform, there is a distinction that makes YouTube a social media platform. YouTube caters to video content that caters to more education importance than the other social media platforms.

Since Cryptocurrencies are on the rise in the market, many verified YouTubers make informational videos on Cryptocurrencies.

White papers are the new way to learn about Cryptocurrencies. What are white papers? Unlike the other sources we mentioned in the list, the white paper needs a more technological approach. The best way to understand the white paper is that they are more detailed reports designed by the experts to educate their audiences. 

Do not worry; you do not have to be a developer to understand the concept. It is just a term used in the technological industry. However, be wary of the white papers that lack technical terms.

Out of all the resources that we mentioned in the list, nothing can match your thirst for knowledge. Every platform has its down points. You need to be careful while using these platforms to educate yourself.

Once you start understanding Cryptocurrencies, you can relate other information as well. Combine every source of knowledge together to complete your understanding of Cryptocurrencies.

Although Cryptocurrencies might not be your career, knowing about them will only be beneficial.

Source: www.insurtechcaribbean.com


Mastercard Will Start Supporting Cryptocurrencies Directly on its Network – Finance Bitcoin News

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