Heena Sharma Blog

  Cyber-security researchers have identified a stash of 167 counterfeit Android and iOS apps being used by hackers to steal money from people who believe they have installed a financial trading, banking or cryptocurrency app from a trusted organization. Researchers at cyber-security firm Sophos investigated the fake apps and found that many were very similar. The attackers targeted users through dating sites and lured victims into installing money-stealing apps disguised as popular brands. Some apps included an embedded customer support "chat" option. When researchers tried to communicate with the support teams using the chat, the replies they received used near-identical language. The researchers also uncovered a single server loaded with 167 fake trading and cryptocurrency apps. Taken together, this suggests that the scams could all be operated by the same group. Read More

  SpaceX will launch the " DOGE-1 Mission to the Moon " in the first quarter of next year, with Elon Musk's commercial rocket company accepting the meme-inspired cryptocurrency dogecoin as payment. "SpaceX launching satellite Doge-1 to the moon next year - Mission paid for in Doge - 1st crypto in space - 1st meme in space", Musk said in a tweet https://bit.ly/3betdTm. Geometric Energy Corporation announced the dogecoin-funded mission earlier on Sunday, with the statement not disclosing the mission's financial value. "This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero was quoted as saying in the statement released by Geometric Energy. Musk said on Twitter in April that SpaceX was going to put a "literal Dogecoin on the literal moon". Read More

  Prime Minister Narendra Modi 's account on the micro-blogging website Twitter was hacked briefly. The social media giant confirmed the compromise and said "active investigation" was underway. The hack appears to have happened during the wee hours of Thursday and the hacker group John Wick posted tweets appeared urging followers to make donations to 'PM National Relief Fund for COVID-19' through cryptocurrency. The account is linked to Modi's personal website narendramodi.in and has around 2.5 million followers since it was created in May 2011. "We're aware of this activity and have taken steps to secure the compromised account. We are actively investigating the situation. At this time, we are not aware of additional accounts being impacted," said Twitter India spokeswoman in response to queries. Read More               

The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018. Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'. The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian. The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies. Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted. Read More

Facebook's proposed digital currency must have legal and regulatory issues worked out in key economies before it can be put into use, the Group of Seven economies said Thursday. In a new report on stablecoins -- a type of digital currency backed by reserves assets -- the G7 also urged regulators to coordinate their work to prevent issuers from seeking out the most favorable country from which to operate. "For stablecoin developers, a sound legal basis in all relevant jurisdictions... is an absolute prerequisite," according to the report from the G7 working group led by Benoit Coeure, a European Central Bank board member. Facebook's Libra has generated intense scrutiny from officials worldwide who worry about the impact it could have on the financial system. France's Economy Minister Bruno Le Maire is due to hold a news conference to discuss the report's findings. Digital currencies are ripe for use by terrorist organizations or for money launde...

Facebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app , focusing first on the remittances market in India, according to people familiar with the matter. The company is developing a stablecoin -- a type of digital currency pegged to the U.S. dollar -- to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said. Facebook has long been expected to make a move in financial services, after hiring former PayPal president David Marcus to run its Messenger app in 2014. In May, Marcus became the head of the company’s blockchain initiatives, which haven’t been discussed publicly in detail. Facebook has been on a hiring spree, and now has about 40 people in its block...