News of the week

FitMetrix User Records Exposed

01 FitMetrix

Booking giant’s Mindbody own fitness tech and performance tracking company, has exposed millions of user records because several of its servers were without a password. Last week, a security researcher found three FitMetrix unprotected servers on Amazon Web Service leaking customer data, which was already indexed by search engine Shodan in September. 113.5 million Records were exposed; each contained a user’s name, gender, email address, phone numbers, profile photos, primary workout location, emergency contacts and more.

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India Showing Interest in a State-Backed Cryptocurrency

02 India

Indian government is evaluating the possibility of creating own cryptocurrency and has set up a panel that will discuss questions regarding cryptocurrencies and blockchain, encourage studies. The panel will discuss new amendments to the existing draft bill on cryptocurrencies. One of the proposals is to make any possession of cryptocurrency without the government’s approval a punishable crime. The panel is expected to present its report on regulations by the end of 2018.

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Largest South Korean Crypto Exchange Sells Stake in $350 Million Deal

03 BitHumb

Bithumb has sold more than 38 percent of its total ownership to a blockchain consortium based in Singapore for $350 million. The exchange confirmed the deal was signed on Oct. 11 with BK Global Consortium, a blockchain investment firm formed by BK Global. The acquisition deal valued Bithumb at around $880 million. The news comes just months after several of Bithumb’s shareholders revealed the crypto exchange’s financial numbers, showing it made net profits of about $35 million in the first half of this year, despite a rough June for the firm after a $40 million hack.

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Research: Nearly $1 Billion Stolen In Crypto Hacks This Year

04 Crypto Hacks

The crypto hacks losses continue to rise, with nearly $1 billion stolen so far this year. As for now hackers stole more than $927 million from the exchanges and platforms, according to a report from security firm CipherTrace. The document indicates the losses are 3.5 times higher than the levels seen in 2017. CipherTrace estimates the total figure will reach over $1 billion by the end of 2018. The most notable theft of the year 2018 was the hack of Japanese exchange Coincheck, which saw $530 million-worth of cryptocurrency stolen.

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Syrian Rojava Will Use Crypto

05 Syria Rojava

Democratic Federation of Northern Syria, a region in Northern Syria, is looking to cryptocurrency as a way to overcome economic sanctions from Turkey, Iran, Syria and Iraq. The state is putting a new emphasis on monetary independence, looking to get away from its primary currency Syrian lira, the main currency of the Syrian state (which Rojava has just spent years fighting.

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SEC Expands Restrictions on ICOs

06 SEC

 

The U.S. Securities and Exchange Commission (SEC) putting a lot of ICO projects at risk, according to a recent joint investigation by Yahoo Finance and Decrypt Media. Hundrends of crypto and blockchain startups that conducted token sales have eventually found that they had violated securities laws despite their endeavors to comply with regulations. In response to SEC pressure, dozens of firms have reportedly “quietly agreed” to refund investors’ money and pay fines, rather than attempt to reach a legal compliance. Many startups that were subpoenaed by the SEC did not know how to satisfy the commission’s demands, and were unable to consult with other firms on how to handle the matter.

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