Yesterday i gave news from Japan, Australia, USA today i have 2 news from South Korea.
Nayana Pays 1 MIllion USD in BTC to Hackers
Nayana which is a big hosting company got attacked by Erbus ransomware - the virus that encrypts all data on computers and wants BTC to be paid for them.
Sadly over 150 of their servers were encrypted by the virus causing almost 3,5k of their clients websites to go offline for 8 days.
When company saw nothing can be done, they paid BTC to attackers to bring back their clients websites online.
The problem started at 10th, with this blog post
Lousy google translate version:
Due to some problems even after paying all files that had Korean titles/names couldnt be recovered so they got lost.
While its of course bad that this happened since tech companies should be more secure its worth nothing how this company really cares of customers and did what they could, even paying this huge amount to hackers, to get everyone back online.
Im postivie loads of companies would just go bancrupt but this guys are the fighers.
Korean Gov to Legalize and Regulate Bitcoin
This is to avoid tax evasion and money laundering but also making current exchanges fully legal and cover users with potential law against unfair exchanges. Financial Services Commission will have to approve exchanges if this passes to let them operate.
Due to lousy Google Translates this is what i more or less understood. If you have more info please write in comments i know we have active KR people here who can help with more info.
Current Korean Exchanges Volume
Notice that 3 Korean exchanges are in top17 of volumes and Bithumb is actually placed at 4th position.
Bithumb Markets
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UPDATE - BITHUMB HACKED
With a reported 75.7% share of the South Korean bitcoin market volume, Bithumb is one of the five largest bitcoin exchanges in the world and hosts over 13,000 bitcoins worth of trading volume daily, or roughly 10 percent of the global bitcoin trade.
https://bravenewcoin.com/news/fourth-largest-bitcoin-exchange-bithumb-hacked-for-billions-of-won
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That's some unfortunate news. I wonder if this will budge BTC prices at all.
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Hahah, hilarious!
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Could this lead to crypto currency long term bearish move?
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Good luck with said regulation. Governments, prepare to get fucked.
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I don't feel hacking can ever be truly prevented. Every creation has a creator and more often than not all creators with power abuse it. Whoever truly created bitcoin without a shadow of doubt knows how to obtain every single token at any moment...rest assure that! Very nice share @kingscrown
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This is very ignorant and incorrect. What do you have to back this up - just a gut feeling based on your lack of knowledge?
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Please tell me how can a programmer create something and not know how to control their creation? I designed all the codes of my new video game called jacobt...and every single code I have stored on my files, I have this game synced to be played with billions and trillions if possible online. At any given moment I have the crash code button, at any given moment I have the shutdown interactions button, let me tell you something sir...with all due respect! You can't think of any thought that hasn't already been thought of, try to create a word or idea without using any letters or ideas currently used. Bitcoins are created and like any creation...it can be destroyed, cheers!
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UGH... for starts the entire bitcoin core code is on github, and open sourced. It's been audited and peer reviewed probably more than any other code in existence today.
Just because you spew shit form your mouth doesn't make it correct, valid, or even remotely entertaining. Instead of doing this, why don't you ask questions.
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To further complicate this conversation, here's something for both of you to ponder:
http://www.zerohedge.com/news/2017-06-12/exposed-real-creator-bitcoin-likely-nsa-one-world-currency
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He lacks knowledge @jabobt:) patience with these kinds, eventually they will realize the power of bitcoin and crypt o, cheers!
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Thank u for your information.
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The Blockchain cannot be regulated. If they try, they will be fucked so hard they will not dare to even dream about the letter B anymore, filthy parasite officials.
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Their IT is so weak for a big company in KR. If I were them, I will use the money to invest in a better IT team then pay to the hacker I think. Many people in the world think IT is not important and they do not spend resource on IT. That is why they pay to hacker.
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So all the Asian countries are taking over bitcoin by legalizing and it will create some interest for the citizens and i do expect some heavy investment like we saw when Japan legalized bitcoin and more people will start investing in bitcoin which could make some difference in the price of bitcoin.
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Been saying that for a while now, esp. in the U.S. between "cavity searches" for your smart phone through customs and on highway pullovers (you know, to make sure you weren't risking lives texting through your blue tooth connection or something), it's gonna get a lot worse before it starts getting better...
Did hear one funny (if not sad) story recently that one TSA agent was apparently giving special pat-downs trying to catch people attempting to smuggle bitcoins through customs. You really just can't make this stuff up! lol
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it would be handy to carry some of those commemorative physical bitcoins you can get on ebay to "surrender" them to the TSA thugs
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I see a new currency. 'Decoy Coin!' the physical crypto that distracts the TSA.
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lol wat? XD
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Wonder how they picked who they were going to search for bitcoins?
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Best way for government to control something is legalize it, then regulate it, same with the cannabis industry.
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a clear path for governments to follow
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Incredible news, Korea has now put themselves ahead of the US . I'm glad to see bitcoin adoption spreading like wildfire. And as mass adoption continues, bitcoin profits will spill into Steem!^_^ thanks for posting!
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Very interesting, sad that btc got legalized to track and regulate it :D
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Hackers always demand bitcoin, this puts such a huge stain on the market from it reaching mainstream popularity. Everybody wants BTC! There needs be a ransom coin for hackers so they don't have cripple BTC and its progress. Good info!
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Like Potcoin, right?! This way they can opt into being more easily tracked?
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Great Idea - Tell hackers to use their own coin, "Ransom Coin"... leave BTC alone.
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agreed
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lmao at this thread. thanks for the late night giggle
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Or put your money in LTC
https://steemit.com/litecoin/@davebrewer/s1e3-of-nypn-bitcoin-and-litecoin-price-increases-explained-by-rising-tensions-between-the-us-and-north-korea
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Regulate means control. If Bitcoin becomes government regulated/controlled on one country then other government's will probably follow. Not good.
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If they don't start to find ways to track accounts for tax purposes and money laundering, we will see stronger and more panicked measures taken in hindsight.
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I guess my thinking is that government involvement will just make things worse. Crypto will turn into more of a regulated stock market instead of the semi wild West that it is today.
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My thoughts exactly
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@slowwalker @abdullar @clayop maybe you guys can share more light on this
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Good step of progress for cryptos going mainstream!
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I don't know why these attackers would use bitcoin to do this? It is so slow now and not anonymous. What is your explaination for this?
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Go and legalize what's already legal.
Next day companys gets infected again...pays amount in Ethereum.
Day2136 company gets infected again...pays amount in zcash.
You can't win this fight on the currency side.
And I'm grateful that online crimal activites use btc because they're people as well! I would rather have ransomware on my pc then a currupt government!
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Resteem for shure! Upvote! Your The Best!
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How can this be regulated??
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Insurance companies should go forward and start to provide service lines for protecting from hackers. Those insurance products is going to provide a compensation in BTC, in case of breach.
Look closer: https://steemit.com/bitcoin/@zkazhmag/insurance-in-crypto-world
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This really is not good for the crypto space. These ransomware sadly give the politicians an excuse to regulate BTC. Lets just hope that will not be the case.
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Wow... This is great. Since the big people in government has choose to be gaining all the benefits along without letting it reach the low life people...
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It seems it's not just the Korean Government that want to regulate Bitcoin. If Bitcoin does become regulated then surly it defeats the entire purpose of its creation, as to have regulation you then have a middleman just like with the big banks.
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BITCOIN, why u no go up ლ(ಠ益ಠლ)
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Wow nice, good job @kingscrown
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Regulate means control. If Bitcoin becomes government regulated/controlled on one country then other government's will probably follow. Not good.
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Do Not Pay any Hacker Ransom. I perpetuates more hacking/ransom events. and will not stop until they stop paying the ransom hackers.
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Wow
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We should always be careful from those trashes
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thanks for your sharing
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Niceu
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And they just impeached their evil dictator! Go Korea! 축하합니다.....wait is this good or bad?
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Oh..
First to say, i'm newbie, 'Meconomic' just call me 미코노미
I agree and also empathize with that kind of situation ; Crypto Currency is the hot and global issues in South Korea and other countries, and many people have great interest and enter the market. So in that reason, i think that the present status which u posted must be expected because there is the uncertainty and risk, especially on the side of security, safety, system, regulation.
Anyway, thank you for your nice posting, and i'm happy to get the chance to think deeply by reading this article:)
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Hey friend help me,I just learned steemit.
Promote me .
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We know regulation is coming....fortunately and unfortunately
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With the continual increase in the price of BTC, there is no doubt that other countries will follow suit with either increased regulation or taxation. Sadly I think this trend will continue.
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I arent too tech savvie, but feel that the use of bitcoin in these cyber attacks is further criminalising the use of crypto currencies.... I would love to see more positive news in the mainstream media about BTC and the other crypto currencies. In the UK, it feels like the government put up barriers to make it harder to use crypto. Glad the Korean government are taking steps to be more accepting of bitcoin xxx
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haha, maybe we need to return to just using fiat USD since no blackmail or ransoms ever occurred prior to the invention of btc
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The govt of India is going to tax bitcoin. I wonder how..
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This sounds an awful lot like the WannaCry virus a couple months back. Vin Armani puts forth a VERY interesting theory as to what and why in this show https://steemit.com/bitcoin/@activistpost/wannacry-ransomware-exposed-as-a-false-flag-to-attack-bitcoin he also found some very hinky goings on with bitcoin trades.
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That virus is called randsomware, not randomware.
Thanks for the information
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Typo, thanks!
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You welcome
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:O
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Oh wow this is news! This may be considered a blow to cyber security and makes those holders anxious of future attacks. To think that this won't happen again will be an under sight. Not only did they not get everything back as per agreement (I'm assuming here) they also payed the ransom providing future opportunities for other hackers. Thanks for the info @kingscrown
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Yes Sir,
At the moment, Bithumb, Korbit and Coinone, the three largest digital currency trading platforms in South Korea that control nearly 100 percent of the South Korean Bitcoin exchange market, have no legal grounds according to Park and the Financial Supervisory Service.
Therefore, the three exchanges along with other small trading platforms in South Korea will have to be licensed and regulated by the South Korean Financial Supervisory Service, which will require the retention of capital of at least $436,000.
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This post received a 1.1% upvote from @randowhale thanks to @buzzbeergeek! For more information, click here!
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This must be devastating.. wish these guys recover fast!
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thanks for sharing this news with us mate
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They are looking for an excuse to regulate change, the future, transformation.
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This is a just a bill proposal, still a long way to get to become law. Check this article on #Bitcoin.com
https://news.bitcoin.com/south-korea-prepares-bill-to-provide-legal-framework-for-cryptocurrencies/
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Asian market on crypto going to be pioneer !
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It's a shame.I hope it does not happen in the future.
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upvoted and followed :)
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good
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there have been hackers since before the creation of bitcoin, nothing can stop bad thing from happening in the existence of good thing. What matters most is that, let the probability of good innovations surpasses the bad ones. What of numerous criminal activities that has been existing with fiat currency without any trace?
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Thank you for the info! We appreciate
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Why I use Bittrex! The more that stuff like this happens the harder governments are going to be on cryptos! This doesn't bode well for anyone regardless of where you are.
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Yes it is hard to say if it is positive or negative - if that is the only way to get the information back then they have to do it.
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This is all just a sign of the times....we live in interesting times already and I think it's going to get a lot more interesting in the next couple of years. Hold on tight....I think it's going to be quite an interesting ride!
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Some time ago I saw a man who was so confident about the system of virtual money.
I wrote a comment of criticism that there is no perfect thing in this world.
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it is terrible that any successful company can be extorted to pay ransom and i reckon it gives bitcoin a bad image in the community
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Hackers are everywhere whenever a new technology introduced a new hacker will born with new superior ideas and will hack and stop the game. :)
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This is some interesting facts thanks for the info!
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Wow thats pretty scary, tell us more!
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Surprised...
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How would the Korean tax entity be able to track this? Ok, I'm no expert but I would think whatever comes into the country you can track and tax I would guess, but money being sent out of the country via a cryptocurrency transaction, can this be tracked? That I think would make money laundering very possible. Of course I am a layman in these kinds of matters so most probably I am wrong.
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What a good company. Looking out for the customers. They could have easily folded, but their fighting on. A credit to them. Other companies should follow their lead.
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Breaking news
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https://steemit.com/steem/@cryptopizza/like-my-post-and-let-s-see-how-much-voting-power-do-you-have-you-may-get-more-than-this-in-future-choice-is-yours
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Are you serious ???
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Informative.
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Great article @kingscrown. I've been telling my followers to monitor trade volumes for weeks.
My most recent post uses trade volumes in China to explain the falling price of ant shares and the rising price of Litecoin. I'd love the opinion of an expert if you've got a moment to hlp out a newbie?
https://steemit.com/litecoin/@beachbuminvestor/why-is-antshares-dropping-and-litecoin-going-up-beachbuminvestor-says-look-to-the-trade-volumes
Thanks,
Fish
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I wonder why the countries around the world are so resistant to accept the new DIGITAL CURRENCY. Instead of opting for difficult ways to earn for oneself, it offers you the most befitting amount which is very self sufficient.
It really is pleasing that KOREA has taken a big step towards accepting bitcoin as it may now carve a way for other countries to see the benefits of it.
@kingscrown great post buddy. THUMBS UP !!!
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Hello Friend Nice Post by You
Please see my post under the title
"Please Check the POST"
& Respond...
Your upvoting can educate someone
Thank you very much
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I am Korean. You are right! Korean company paid a huge amount of money to the hackers.
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Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following category:
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thanks, curious to see how the Korean news shakes up their gov.
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Thanks for that news,it was only a matter of time before someone attempts to regulate it.
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wou, interesnting
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thats is great !
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Another example of why it's not a great idea to pay these attackers off. You rarely get your files recovered properly. The financial sacrifice is admirable, though.
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That is so screwed up. It would be a difficult decision to make whether to pay the ransom or not if you were head of the company.
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hi sir can u help me with my niece! please see link below :( please pease
https://steemit.com/steemit/@belle.julz/my-nephew-is-in-need-of-your-kindful-heart-201774t10420347z
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Its just shame..!!!
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