Mexican Oil Company Pemex Is Demanded by Hackers to Pay USD 5 Million in Bitcoin

According to a statement made by the company, the attack affected less than 5% of its computers. Hackers indicated that Pemex had lost the deadline to get a “special discount.”

Hackers demanded almost USD 5 million in Bitcoin from the company Petróleos Mexicanos (Pemex), also saying that the company had lost the opportunity to obtain a “special discount” by not paying immediately after the attack, which ruined part of the computer systems of the company.

The cyberattack, which Pemex detected on November 10th, forced the company to disconnect computers throughout Mexico, even stopping payment systems. In this way, hackers continue to increasingly target large companies, which they attack with malicious programs that can disable the systems that monitor all their processes, from supply chains to production, eliminating the malware after receiving substantial payments.

A ransom note that appeared on Pemex computers referred to a darknet website affiliated with “DoppelPaymer.” This is a relatively new type of ransomware, which the cybersecurity firm CrowdStrike cites as responsible for the attacks against the Chilean Ministry of Agriculture and the city of Edcouch in Texas, USA.

The website required Pemex 565 BTC, almost USD 5 million at the current exchange, giving the oil company 48 hours to pay and indicating an e-mail address to make contact. After they wrote to the said e-mail address, the alleged hackers replied, saying that the company had missed the deadline for a “special price,” referring to the discounts offered to ransomware victims for making advance payments.

This attack represents a new threat to Pemex, which is struggling to pay large debts, reverse years of declining oil production and avoid reductions in its credit scores. However, the company reported that its storage and distribution facilities were working normally and that the attack had affected less than 5% of its computers.

Regarding this, a person that works in the production and exploration area of ​​Pemex reported that this division was not affected. However, according to statements from another source, who spoke on condition of anonymity, last Tuesday Pemex was reconnecting unaffected computers to its network with software patches, in addition to cleaning infected computers.

It is also explained that initially there was confusion about the type of ransomware that was used in the attack. A Pemex official said in an e-mail that it was Ryuk, a ransomware that usually targets companies with annual revenues of between USD 500 and 1 billion, well below Pemex levels.

After the attack, Pemex had to communicate with the staff through the WhatsApp mobile messaging service, since employees could not open their e-mail accounts, according to another source that was also not authorized to speak with journalists. The person added that, due to the disconnection of all computers in finance, there could eventually be problems with payments.

Companies that are digitally taken as hostages can suffer catastrophic damage, whether or not they pay a ransom. The Norwegian aluminum producer, Norsk Hydro, was attacked in March this year by a ransomware that expanded to 160 sites, forcing parts of the company to operate on paper and pencil. The company refused to pay the ransom but explained that the attack generated up to USD 71 million in cleaning costs, of which only USD 3.6 million have been paid by insurance.

By Willmen Blanco

Anonymous Self-Destructive Chats Can Be Rented through Lightning Network with an Application

Kumo.chat makes it possible to create private and anonymous chat rooms that last 24 hours. The conversations held in the platform are not registered in any database.

It was reported that an application to create private and anonymous chat rooms that, in the style of the action movie Mission Impossible, self-destruct in 24 hours, has been active since the beginning of the month. The software, called Kumo.chat, allows users to rent a chat room using bitcoins, through the second layer Lightning Network.

The Lightning application was launched on November 7th by developer Stuart Kuentzel, who said that his intention is to show how simple it is to integrate applications paid with bitcoins using Lightning Network. As Kumo.chat is an open-source development, Kuentzel has invited any interested person to contribute to its development or to provide ideas for its improvement.

According to the information available, Kumo.chat does not keep records of interactions in any database, to ensure that messages will be destroyed along with the chat room, one day after they have been created. In this way, users do not need to worry about their conversations being accessed by third parties, monitored by governments or used for harmful purposes.

Kuentzel defines Kumo.chat application as shareable, anonymous and self-destructive chat rooms powered by the Lightning Network.

If users want to create an anonymous chat on Kumo.chat, they have to pay a rent of 10,000 satoshis (0.00010000 BTC), equivalent to USD 0.87 at the current price. In addition, they must set a password, which they will share with the partners that will have access to the room. Only with the use of the password is it possible to join a conversation or see what is discussed in a certain chat room.

Additionally, Kuentzel said in his Twitter account on Wednesday 13th that he had added emojis to the chats to make the user experience more comfortable. It was also known that the developers of Spending-Bitcoin, a global directory of businesses that accept payments with bitcoins, have already incorporated Kumo.chat into their listings.

A similar application, which is oriented towards privacy and resistance to censorship, was recently presented by developer Joost Jager, of Lightning Labs. In this case, Jager announced the development of proof of concept (PoC) for a use case of the Lightning Network, in the matter of decentralized private messaging.

This application, which is called Whatsapp, would use the Bitcoin Lightning Network to send messages without a central entity with the power to limit interactions. According to its creator, it would be similar to talking privately with a person face to face. Jager explained that this can be done without having to request permission.

The emergence of multiple use cases and applications powered by Lightning Network shows that developers are not satisfied with the financial use of the network, but are seeking to go further. Currently, the Bitcoin micropayment network, Lightning Network, has almost 6,000 nodes with active channels and a routing capacity of USD 7 million in bitcoins.

By Willmen Blanco

Central Bank of France Develops a New Program Related to Cryptocurrencies

In an attempt to improve technological processes using blockchain technology, the Central Bank of France offered jobs for an expert in this technology.

Blockchain technology has revolutionized the way of performing some administrative and financial processes, as well as cryptocurrencies have facilitated the conduct of commercial transactions between nations and also have improved capital liquidation without the need for money to use clearinghouses or intermediaries.

These benefits turn out to be of great financial utility, in this way, some countries have sought to adapt this technology to their needs.

In order to maintain the global vanguard of new financial technologies, many countries are evaluating blockchain technology as a platform to be used in their processes. Different countries are developing a government cryptocurrency which allows business transactions to be expedited and connect with the rest of the world. For example, recently France has announced that they are creating a program related to these digital assets.

Although some governments in the world have found themselves worried about keeping up to date with emerging technologies and adapting to them, France had been strong in its position to ban the use of these assets. This happens to the point of refusing, even, that Libra, the cryptocurrency that would be developed by Facebook, was introduced into the French territory.

Despite this, France is aware that it is necessary to know the blockchain technology and everything related to these digital assets. It is for this reason that, recently, the Central Bank of France published, last October 16th, a vacancy to work within its offices. It looks for an expert in blockchain technology.

As it is known, the vacancy is for a blockchain analyst who will have as its main responsibility to help the French institution to implement a digital currency of its own development.

The interest of the Central Bank of France demonstrates the importance that blockchain takes in global financial markets, being even, for the most industrialized countries, a vital requirement to have knowledge in this technology for current and future trade.

The Race of Different Countries for Crypto-technology

For some years, certain world governments have taken cryptocurrencies into account for commercial use, even to boost sectors of the economy that lack of dynamism, such as the case of Venezuela, which, having a strong economic crisis, announced the launch of its own national cryptocurrency, Petro.

However, interest in these technologies had not increased very much until, midway this year; the Social Media Giant Facebook announced the development of its cryptoasset, Libra.

The idea of ​​a cryptocurrency backed, not only by the social network but in addition buy a group of more than 20 powerful world-class companies, generated strong alarms in governments who were threatened and argued that it could unbalance the currency market worldwide if that project came to light.

Because of this, some governments refused to use these assets and others, such as France, activated a prohibition measure so that the cryptocurrency, even without being launched on the market, could not operate in its territory.

In additional response, France now evaluates to begin the investigation of these technologies and, for this reason, its Central Bank is looking for an expert who can guide the financial institution for the development of a virtual currency issued by the country.

By María Rodríguez

Lightning Network Could Be Used as A Private Message Service

“Whatsat”, a version of the Lightning Network, could integrate an instant messaging service to payment networks, without the need to have a central entity that controls or manages messages between users

One of the most important networks in terms of payment processing and transaction scalability, Lightning Network (LN), could use its network to enable a private and decentralized instant messaging service.

This is according to Joot Jager’s announcement, who is one of the developers of Lightning Lab. In that way, Jager revealed that they are in a test phase for the tool, called “Whatsat” (no WhatsApp), which is an alternative version designed for the network of LN. It can be adapted for a private courier service.

Similarly, this messaging platform could be backed by processes similar to the Bitcoin network security standards. And that unlike other messaging services that distort the text of the messages so that they are illegible, in this service there will not be an entity that limits its users, so they can use the service in the best way for the person who uses the tool.

Regarding this aspect, Jager commented, during an interview, that this platform can be used by anyone who is interested. “Lightning is a peer-to-peer network in which anyone can participate. There is no central entity that has the ultimate power to decide which users are allowed to communicate”, he argued.

The issue of messaging can be one of the most complex issues of the new digital era since anyone with computer skills can intercept unencrypted messages to be used for negative or illegal purposes. It is for this reason that there are many companies that offer high levels of security for their users, among which stands out Wire and Signal.

Jager added that he recognizes the privacy of communications as one of the most important issues that should be reserved in this new era.

“I like to compare private messaging with talking face-to-face with someone, we can do this without having to ask permission (…) this is a freedom that is so natural, that we hardly realize how important it is since we are humans but continue to digitize ourselves a little more every day, I think it makes sense that we extend this freedom to the digital domains”.

Although the application is still in a phase of “birth”, for Jager it represents a passionate project without doubts. It is not yet known with certainty if it can be used with Bitcoins.

In the end, Jager commented that the LN platform has always been able to include extra information, which is the one that can currently be developed to be used as a messaging service. Without having to modify the network software, this extra space can be standardized and used as instant messaging.

Users of cryptocurrencies now would count on a platform not only to make payments but also to send messages safely and maintaining the privacy they need.

By María Rodríguez

Number of Bitcoin ATMs Worldwide Broke a New Record

The United States of America is the country with over 65 % of the machines installed in the entire world.

The number of Bitcoin (BTC) ATMs installed around the world broke a record again, surpassing six thousand and achieving a new milestone. The number continues to grow and the installation of ATMs does not show signs of stopping.

CoinATMRadar recently reported that over 65% of the 6,004 ATMs installed are located in the United States, where there are 3,924 ATMs. Last month, 108 machines were installed and the average daily number of Bitcoin ATMs installed is 11, according to the data offered by the online resource. This is the fastest pace.

Europe has almost 20% of the total amount of these machines to use and exchange cryptocurrencies, and Asia has only 2%. Over three-quarters of the devices are in North America so Canada has 653 machines to complement the number that the United States has.

To complete the top four of the regions with more ATMs, the United Kingdom has 272 machines and Austria has 189. Spain (86), and Switzerland and the Czech Republic are the countries that follow in the list.

One Thousand Machines in Five Months

Since last June, the total number of ATMs worldwide increased by 1,000. This is proof that the industry is growing.

These machines are also known as Bitcoin ATMs or simply as BTMs, which allow users to buy BTC. Additionally, over 35% of these machines also have two-way capabilities enabling sell crypto for cash.

The Miami International Airport also has a BTM. It was installed, last October, by BTM firm Bitstop. The company’s co-founder and Chief Strategy Officer, Doug Carillo claimed that Bitcoin is useful for travelers and, for that reason, they decide to install a BTM there.

“More and more people prefer to travel with Bitcoin instead of cash for convenience and security. Miami International Airport is a perfect place for our customers to conveniently exchange their dollars for Bitcoin and vice versa when traveling domestically or abroad”, he said.

A Complicated Scenario

But not everyone is happy with the growth in the installation of Bitcoin ATMs, especially in the United States, where, interestingly, is the highest amount of Bitcoin ATMs.

Early November, the US Internal Revenue Service Criminal Investigation Chief, John Fort, said that the regulator of that country is “wary” with the potential “tax issues” generated by Bitcoin ATMs. It is investigating, with different agencies, cases of the possible use of these machines for tax evasion.

“They are required to abide by the same Know-Your-Customer, Anti-Money Laundering regulations, and we believe some have varying levels of adherence to those regulations”, Fort said.

Besides, the mayor of Vancouver, Kennedy Stewart, proposed to ban the installation of cryptocurrencies in that city of Canada because he considers them “the perfect tool for money laundering”.

Due to the lack of regulation that currently exists, Asian investors call for regulatory “clarity” in the United States to trade and prevent future problems. Establishing some rules, they think, would make it possible to operate without uncertainty. Something positive for companies and users.

By María Rodríguez

Alliance with Startups Will Allow Switzerland Enter in the Crypto World

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It is expected that payments with cryptocurrencies can be made very soon in Switzerland, this as part of the agreements between government entities and two startup companies.

Startup companies Worldline and Bitcoin Suisse will make significant efforts to launch a project that helps Switzerland set up a cryptocurrency payment platform.

According to the data provided by both companies related to the project, it was known that this initiative has as its starting point the European country for the development of the tool capable of allowing the use of digital currencies for the payment of goods and services.

After the system has been tested and properly established, it is expected to seek to expand it to the rest of the European continent.

Two of the largest and most important companies in the continent are working together to develop the project.

Worldline is a company dedicated to the area of ​​payments and market services in Europe. On the other hand, Bitcoin Suisse functions as a financial intermediary.

This company, based in the same country, will allow access to the necessary assets for payments. In this way, the intention of the alliance will be to help merchants and consumers to introduce digital currencies in the commercial sector.

Since the acquisition of Six Payment Service by Worldline at the end of last year, all its infrastructures now belong to the payment services company, which granted the project as central facilities for the development of payment methods and platforms with crypto.

According to the statement issued by both companies, for this project, it was openly commented that the main objective of this association will focus on “strengthening the leadership position of Switzerland as a strong center in the crypto financial services industry”.

In this regard, Marc Schluep, who is CEO of Worldline, gave his opinion on this project. He was enthusiastic about the recent partnership.

“Through cooperation with Bitcoin Suisse, merchants can benefit from an entirely new offering without taking any conversion risk. Bitcoin Suisse has developed extensive technical experience and internal financial crypto through its more than six years of trading experience, brokerage, and cryptocurrency storage. After a successful launch in Switzerland, Worldline will launch its new cryptocurrency payment service in Europe”.

On the other hand, Arthur Vayloyan, CEO of Bitcoin Suisse, said he was proud of the alliance and also said that it is a big step for the crypto market.

“Our partnership with Worldline is a major step forward on the journey to bring crypto payments into broader adoption. Bitcoin Suisse is proud to serve as the processor of cryptocurrencies in Worldline’s payment service system. We applaud them for their pioneering spirit in taking this monumental step and pointing the way forward for others”.

Switzerland has been one of the few countries in the world that have supported the so-called “crypto-revolution”, even to the point of carrying out concrete actions, such as the statement of the Central Bank of the country itself, which issued its opinion declaring its support for cryptocurrencies.

In addition, Switzerland seems to agree with the incorporation of Libra, the cryptocurrency that Facebook plans to launch in a few months, into its economy.

By María Rodríguez