Malware Targeting Discord Users’ Credit Cards Grows, According to Kaspersky

The cybersecurity firm identifies four malicious packages to steal sensitive information from programmers who are on Discord. Hackers steal credit card data and monitor personal accounts. The malware campaign was created for Brazilian users.

Cybersecurity giant Kaspersky has warned about the theft of credit card information by Discord, a communication platform widely used by the crypto community to discuss projects, foster ideas, and build new links for the entire chain.

The company’s researchers identified four open-source malicious packages to steal sensitive information from developers on Discord.

How the Malware Campaign Works

Kaspersky analysts have discovered a new malicious campaign in Brazil called LofyLife, which uses four open source packages to spread Volt Stealer and Lofy Stealer malware within Discord. Trojans want to steal user credentials and credit card information used in the app.

Experts found four Trojan packages in the repository containing malicious scripts with the keyword “Brazil”, an indication that the campaign is targeting Brazilian users.

Once installed on the targeted victims’ machines, the malicious repositories look like development packages used for common Discord tasks, such as text editing or certain game features. However, they contain complex corrupted JavaScript and Python codes, as well as Trojans that go by the names of Lofy Stealer and Volt Stealer, respectively.

Volt Stealer is a known malware used to steal Discord tokens on infected machines, along with the victim’s IP address, which are sent over HTTP to the cybercriminal. New to the campaign is Lofy Stealer, a new malicious code capable of infecting Discord users’ files and monitoring the victim’s actions within their account.

After being infected by Lofy Stealer, everything a user does on their account is tracked from email or password changes, security settings like multi-factor authentication (MFA), and even adding new payment methods such as new credit cards. The collected information is also sent to the remote endpoint controlled by the criminals.

Threat to Community of Developers

The campaign is yet another example of a growing threat to the developer community, who may unknowingly download malware while using open source programming packages within Discord.

“Heavily obfuscated malicious packages using Javascript and Python are pushed to the NPM repository for potential typo attacks (mistyping a URL in the browser). Publicly available information suggests that the packages are primarily targeted at Discord users with a focus on Brazil,” explains Fabio Assolini, Director of Kaspersky’s Global Research and Analysis Team for Latin America.

Considering what has been stated above, among the most common tips, experts on the subject point out that it is always important to check the links before clicking. Email addresses and web pages that seem trustworthy are often addressed with barely noticeable changes. It is worth, then, reading many times before clicking, and, as always, doing your own research before making decisions.

By Audy Castaneda

A Korean Lawyer Investigates the Terra Crash, Which Kwon Views as a Great Bet

Prosecutors collected evidence from seven cryptocurrency exchanges related to the bankruptcy of Terra and told its crew to stay in Korea. Traders awaited the pronouncements of Do Kwon, who said the project was not a fraud but had had bad luck.

The founder of Terraform Labs, Do Kwon, reportedly hired a South Korean lawyer to organize an investigation by national authorities.

According to local media, the executive sent a letter to a lawyer from the Seoul Southern District Prosecutor’s Office. The latter investigates the collapsed project, renamed Terra Classic (LUNC), to face the authorities in the legal circumstance.

In a recent interview with Coinage Media, Do Kwon claimed there were no charges against him. However, the prosecutors in South Korea behind the Terraform Labs case conducted an extensive investigation.

They collected evidence from 15 organizations, including seven cryptocurrency exchanges, linked to the bankruptcy of now extinct Terra. Besides, they reported the matter to Do Kwon, who was in Singapore, and told the rest of the company to stay in Korea.

Since mid-May 2022, Terra has become a target of extreme attention in Korea. The Financial Services Commission and the Financial Supervisory Authority had to recreate the strength of financial activity death to investigate the firm.

After that, the Korean police struggled to find a way to freeze the assets of the Luna Foundation Guard. That organization burned around USD 3 billion worth of Bitcoin in 3 days hoping to preserve Terra but failed.

The Seoul Metropolitan Police Department continued investigating Terraform Labs for alleged embezzlement and rejected the US Securities and Exchange Commission (SEC) appeal.

Do Kwon must testify before the Korean National Assembly at the proposal of Congressman Yun Chang-Hyun. In addition, the developer wants to prepare for lawsuits from many Korean traders.

On May 28th, the co-founder of Terra managed to relaunch the project by developing a new blockchain called Terra two. It still exists as a different blotch by CEO Do Kwon, although its developments are not excellent.

The Founder of Terra Thinks the LUNA Crash Is a Great Bet

The events related to Terraform Labs contributed to an indecision environment that enveloped the market. Investors decreased their trust due to the vulnerability in the network, while irregularities might have damaged the infrastructure, generating an asset leak.

The latter incident added to the factors that influenced the drop of cryptocurrencies.

Several months after the collapse of Terra, including the stablecoin UST, there has been little information from the developers. The CEO of Terra has not issued many opinions on the matter, adopting a limited stance.

The lack of data has led traders to await the pronouncements of Do Kwon, but his comments have reflected an optimistic view. He has said that the project is not fraudulent but has been unlucky.

The CEO and co-founder of Terraform Labs considers the crash to be a great bet. Amid the controversy over the collapse, he believes in the possibility of the ecosystem recovering.

By Alexander Salazar

Medellin, First City in Latin America to Have its Own Version in the Metaverse

In Medellin Fun City people will be able to buy the lot, build their house, and buy objects or products in different stores. According to Juan Camilo Villa, CEO of Sparklife SPS, in the future people will have the possibility of making their assets profitable in the Medellin metaverse.

Medellin Fun City will be the project that will take the city of flowers to the metaverse. Soon lots will be sold in this digital environment so that those interested can get to know Medellin from the metaverse.

Sparklife SPS and Villas Capital Commerce are the companies behind Medellin Fun City, the project that seeks to make the city of flowers the first in the region to reach the metaverse. To do this, companies are using NFT technology and cryptocurrencies.

The project will put up for sale a total of 150 lots of different sizes and in different locations in Medellin. All spaces were developed on the Unreal platform.

The idea is that in Medellin Fun City people can buy the lot, build their houses, buy objects or products in different stores, and even interact in the public and private spaces of the city.

Similarly, according to Juan Camilo Villa, CEO of Sparklife SPS, in the future people will have the opportunity to make their assets profitable.

“Medellin is the third best city in the world to live in right now, cataloged by international entities, and I think the city is a good brand to start with this first metaverse in Latin America.”

Requirements to be part of Medellin Fun City

Those interested in being part of Medellin Fun City must meet some simple requirements. First of all, they must have more than 200,000 SPS (Sparklife’s currency, that is, more than 900,000 Colombian pesos) in their Metamask wallet.

The important thing is that they have that money saved until the day of the purchase of the lot. In addition, they must be in the official Sparklife community on Telegram, and register for the pre-sale, through the Bot that they will find in the Telegram community.

Flower Fair and Astronea, First with the Metaverse

This year Medellin made the first approach to the metaverse. Recently, the 2022 Flower Fair allowed people from all over the world to enjoy this great event through the metaverse. This was possible thanks to the commitment of the District of Medellin in alliance with the company Sparklife so that local or foreign people connect to the first metaverse-city in Latin America.

This original initiative was born with the intention of “decentralizing the Flower Fair and positioning Medellin as a Software Valley.” People with access to a mobile device or computer were able to interact virtually with various spaces in the capital of Antioquia.

In addition, in recent months the launch of Astronea was also announced, a collection of 2,120 NFTs that will be sold to all those who wish to be part of the project with which it is intended to launch the first NFT nightclub in Latin America.

The nightclub will be called 10-60, it will have a capacity of 2,000 people; according to its creators, it will make users feel as if they were inside a spaceship.

By Audy Castaneda

Genesis Trading CEO Resigns after Cutting 20% of Staff

Michael Moro, CEO of Genesis Trading, will step down, as pressure mounts over exposure to Three Arrows Capital (3AC).

The New York firm, a household name in institutional cryptocurrency lending has announced a 20% headcount reduction effective August 17, 2022.

This comes on the heels of an announcement by the company that it had borrowed $40bn in the second quarter, down 9% from the first quarter, as institutional interest in lending cooled amid a recession in the crypto market.

The cryptocurrency market has fallen from a peak of around $3 trillion to around $1.12 trillion at press time.

Genesis derivatives trading fell 4% from the first quarter.

Continuous Commitment to Operational Excellence

The Director of Operations will assume the position of Director General for the time being. At the same time, the company is looking for a permanent replacement for Moro, who will be an advisor during the hiring process. Tom Conheeny will join the Genesis board, along with risk, compliance, and technology executives.

Derar Islim, Chief Operating Officer, said the board reorganization and staff reduction were part of the company’s ongoing commitment to operational excellence.

Moro, a former Citi executive, said it was an honor to lead the company for almost a decade since he opened a Bitcoin trading desk in 2013.

Under Moro’s supervision, Genesis acquired Qu Capital, a quantitative trading firm, and Vo1t, a digital currency custodian. It also established a presence in London, New York, and Singapore.

Matrix of Genesis, DCG, Assumed Its Responsibilities

Genesis announced exposure to 3AC in July 2022 and sold the hedge fund guarantee after it failed to respond to a margin call. Genesis had required an average margin of more than 80% from the Singapore hedge fund which recently filed for bankruptcy and was ordered liquidated by a court in the British Virgin Islands.

Genesis’s parent company, Digital Currency Group, took over some of the lender’s responsibilities to allow it to continue operating.

Genesis lends to cryptocurrency firms looking to short digital assets or lock cryptocurrencies for yield.

Genesis joins Coinbase, Crypto.com, Bitpanda, and Blockchain.com, which have all made headcount reductions in response to declining user engagement and revenue.

Deribit, a company specializing in cryptocurrency derivatives, a product not currently offered by US-based exchanges, was among the creditors that backed the 3AC liquidation. Blockchain.com also weighed in.

By Audy Castaneda

While Nexo Sues Its Former Director, Michael Saylor Suggests Buying More Bitcoin

Nexo wants its former director to transfer BTC and ETH to the company, as he led it to lose USD 7.9 million. After Elon Musk joked about buying the Manchester United club, Michael Saylor suggested he buy more Bitcoin instead.

Nexo recently sued its former director Georgi Shulev for allegedly violating the agreement, according to a Law 360 report.

They want Shulev to transfer Bitcoin (BTC) and Ether (ETH) to the company, a deal for which he will get USD 1 million. The cryptocurrency lending platform said he had blocked his BitMEX trading account during a hard time, which caused a USD 7.9 million loss.

HDR Global, the parent company of BitMEX, requested the UK Supreme Court to identify the account owner. That happened after Shulev left his position as Director of Nexo in 2019. Shulev and Nexo must notify HDR when the cryptocurrency lending platform has regained control of the account.

Shulev said he could not notify HDR he had solved the dispute with Nexo as the latter had not paid the first of 5 installments.

Amid the liquidity looming over cryptocurrency lenders, Nexo promised to rescue Celsius Network and Vauld. However, Celsius refused to help, while Vauld is still under scrutiny and must wait until September to be sure Nexo will save it.

Michael Saylor Recommends Elon Musk Buy More Bitcoin

Michael Saylor, the CEO of MicroStrategy, suggested Elon Musk buy more Bitcoin after the latter joked about buying the Manchester United club.

The CEO of the electric car company Tesla said he would buy Manchester United, which is 20th in the Premier League table. Following the joke, many people speculated that it would improve its condition, but the billionaire denied the purchase.

In late July, Tesla announced the results of its second quarterly report, indicating it had sold 75% of its reserves in Bitcoin. The company obtained USD 936 million and added it to its balance sheet, which had 42,000 BTC before the sale. Billionaire entrepreneur Elon Musk had bought those coins for around USD 30,000 each.

According to the report, end-of-quarter cash, cash equivalents, and short-term marketable securities increased by USD 902 million to USD 18.9 billion. Free cash flow of USD 621 million drove it, offset by debt payments of USD 402 million.

At the end of the second quarter, Tesla converted about 75% of its Bitcoin holdings into fiat money. With those conversions, they added USD 936 million in cash to their balance sheet.

Meanwhile, Michael Saylor stated that Bitcoin would bring hope for Argentina more than any investment amid the rise in inflation rates. The billionaire has already suggested that the South American nation adopt BTC for the second time.

Saylor said the reference interest rate had reached 69.5% in Argentina over the last week. It has increased by 1,750 bps in two weeks, while the official inflation rate has risen to 71%. Since he believes it might exceed 90% in late 2022, he recommends buying Bitcoin as more than an investment.

The CEO of MicroStrategy questioned Vitalik Buterin, the co-founder of Ethereum, who announced the new ETH upgrade was 40% complete. Saylor asked whether the project was economically, technically, or ethically sound.

By Alexander Salazar

The CEO of Kraken Thinks the Sanctions against Tornado Cash Are Too Severe

Powell said that transparent people would view the sanctions as exaggerated, as they even removed the code repositories. The executive stated Kraken would block transactions from addresses associated with Tornado Cash, although he highlighted the importance of financial privacy.

Jesse Powell recently commented that the US Treasury Department had imposed exaggerated sanctions against Tornado Cash.

The CEO of Kraken highlighted that the government agency took those measures following the collapse of Terra (LUNA) in May.

The executive said that transparent people would view it as a gut reaction to what happened with UST and LUNA. He thinks regulators have exaggerated their actions to protect people by removing the code repositories.

Kraken to Freeze Funds in Compliance with the Sanctions

Powell considers that the financial privacy of users is as relevant as freedom of expression. He even suggested that Tornado Cash might survive a challenge in court.

Despite stating it favored financial privacy, Kraken is willing to comply with the sanctions. In that regard, the cryptocurrency exchange would block transactions from addresses related to Tornado Cash.

The CEO of Kraken said they would ban any address associated with Tornado Cash from making withdrawals. He added that they might freeze the funds from wallets in the cryptocurrency mixer.

The US Treasury Department sanctioned Tornado Cash, accusing it of laundering over USD 7 billion since 2019.

The Opinion of Kraken about the Position of Circle

The CEO of Kraken also judged the position of the crypto industry in the case of Tornado Cash. The executive highlighted Circle Internet Financial, the issuer of the stablecoin USDC.

Jeremy Allaire, the CEO of Circle, recently pointed out that they had frozen USDC in smart contracts of Tornado Cash. In that sense, Jesse Powell commented that having a digital currency that governments can control through unconstitutional action causes fear.

Finally, Powell decided not to comment on reports that regulators investigated the exchange for allegedly violating sanctions against Iran. Those measures ban exporting goods or services to any person or entity from that middle-eastern country.

A spokesperson for the US Treasury stated they did not confirm or comment on potential or ongoing investigations. He said that they used their tools and authorities to enforce the sanctions that protect national security.

Meanwhile, Celsius Considers New Financing Offers to Escape Bankruptcy

A lawyer of Celsius Network recently said that the firm had received cash offers to help it finance its possible restructuring.

The committee said they would meet Celsius within the following seven days while working on the upcoming case.

Celsius imposed a moratorium on withdrawals in June to protect itself from bankruptcy. The firm is now working with specialized attorneys to explore its restructuring options.

According to Bloomberg, they are weighing various financing packages from different parties. However, it is unclear whether they are equity-based or debt-based or what the terms of the deal would be.

By Alexander Salazar