The Ministry of Culture, Sports and Tourism suspect that the hackers stole the ID and password of the YouTube account. Meanwhile, Pang Xue Kai believes that creating a bourse can help further local crypto projects emerge in Indonesia.
The executive power in Seoul and Google recently stated that cybercriminals had attacked the official YouTube channel of the South Korean government. According to Yonhap news agency, the hackers played a crypto-related video with billionaire entrepreneur Elon Musk.
The YouTube channel seems to have been subject to a cyberattack as its name changed to SpaceX Invest. In addition, it showed a broadcast dedicated to cryptocurrencies, including an interview with the founder and CEO of SpaceX.
A spokesperson of the Ministry of Culture, Sports and Tourism, responsible for the YouTube account, said their employees noticed the situation. The official said they immediately took security measures and could restore control over the channel in one and a half hours.
They mainly suspect that the hackers stole the ID and password of the government YouTube account. Google, the parent company of YouTube, reportedly confirmed the hack while reporting that the case is under investigation.
Hackers also attacked another YouTube account, run by the Korea Tourism Organization (KTO), earlier this week. The criminals targeted the channel with over half a million subscribers, which is still unavailable, on two consecutive days. A representative of the KTO said that Google automatically blocks access when it detects abnormal activities with an account.
Meanwhile, the Indonesian Government Plans to Launch a Crypto Bourse
According to local financial media, Indonesian Deputy Trade Minister Jerry Sambuaga recently said the government plans to launch a crypto bourse before 2023.
The government official explained that the initiative sought to protect consumers amid the rising interest in cryptocurrencies.
He pointed out that they postponed the launch of the bourse, scheduled for 2021, due to the complicated process.
Minister Sambuaga also stated they would comply with all the requirements, follow all the procedures, and take the necessary steps. He highlighted that this proves that they are being careful not to miss any details.
Sambuaga said that creating a bourse needs preparation, like including validated entities. In addition, he noted that there are minimum capital and other custodian depository-related requirements, among other technical aspects.
Pang Xue Kai, the CEO of Tokocrypto, believes a bourse can help increase the interest in the sector from institutional investors. The executive considers that the industry will grow with the emergence of further local projects.
Although Indonesia allows trading cryptocurrencies as commodities, it does not recognize them as a payment method. The Indonesian Directorate General of Taxes has set income tax on capital gains from crypto investments at 0.1%.
According to the Commodities and Futures Trading Regulatory Agency, transactions with crypto increased by 1,224% to 859.4 trillion rupiahs (IDR) in 2021. In the first quarter of 2022, 15.1 million crypto users in Indonesia traded IDR 212 worth of cryptocurrencies.
By Alexander Salazar
