HyperLinq : Weekly Digital Asset Digest 26
The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access relevant news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!
Australian Hacker Pleads Guilty to Stealing $450,000 in XRP Last Year : Max Boddy | CoinTelegraph
Australian citizen Katherine Nguyen has pleaded guilty to stealing $450,000 in XRP — over 100,000 tokens — in January 2018. Local news channel 7News Sydney reported the latest about the case on Aug 23. According to the report, Nguyen hacked into the email account of a man with the same last name. Police reportedly investigated the theft for 10 months before locating and arresting her. Nguyen has since pleaded guilty to the theft, for which she will reportedly face jail time. A special hearing will be held in October to resolve some factual disputes and determine her sentence. Nguyen was first charged with the crime in October 2018. Yesterday, Australia received backlash over a new bill that would put a limit on cash transactions — including cryptocurrency transactions. The proposed bill, entitled "Currency Bill 2019", would ban all cash transactions worth over 10,000 AUD . Over 7,000 individuals have subsequently signed a petition against this bill. The motivation for capping cash transactions is purportedly to deter illicit activities, including money laundering and tax evasion.
Binance Offers VIP Accounts to Hacked Users : John Biggs | CoinDesk
After an August 7 post about potential KYC leaks at Binance the company has released an update from its "security and investigations team" stating that it will give affected users VIP accounts on the site. Binance notes that though some of the photos match actual accounts others are lacking key details or show evidence of manipulation. "During our review of the leaked images, there were multiple photoshopped or otherwise altered images which do not match the KYC images in our database and are being accounted into the comprehensive investigation. In addition, every image processed through Binance for KYC purposes is embedded with a concealed digital watermark, which was notably absent from all of the leaked images. We have robust measures in place to safeguard our customers’ assets and information, including an updated KYC verification system and AI-based facial verification function introduced in 2018, as well as the storage and indexing of KYC data with sophisticated data security technology upgraded in 2019", wrote the company.
Andrew Yang Wants to Make US Elections Fraud-Proof Using Blockchain : Max Boddy | CoinTelegraph
Democratic candidate Andrew Yang says he will implement blockchain-based mobile voting if he wins the 2020 United States presidential election. On his campaign website, the blockchain advocate says he believes American citizens should have the option of voting on a mobile device — with blockchain technology used for verification purposes. As an upshot, Yang hopes that mobile voting will drive increased participation in elections. On his website, the candidate claims that presidential elections currently have about 50% participation from the public — and low turnout "rewards extreme points of view as opposed to the popular will". In April, Yang also called for clear guidelines for investors, companies and individuals on cryptocurrencies — adding that blockchain has vast potential. As previously reported by CoinTelegraph, the ruling party of the Russian Federation, United Russia, launched a blockchain-based platform for voting in primary elections back in March.
You Can Now Earn Bitcoin Rewards for Postmates Purchases : William Foxley | CoinDesk
Food delivery is about to get a little sweeter for the users of the bitcoin rewards platform Lolli. The startup announced Wednesday that it has partnered with delivery service Postmates, making the popular app the latest partner for Lolli’s rewards program. Lolli has added a range of new partners this summer including national grocery chain Safeway in July and Hotels.com in June. Lolli claims over 750 online retail partners including Walmart and Sephora, among others. Lolli has said that about 40 percent of its users are new to the cryptocurrency scene. "This is another step towards the mainstream adoption of bitcoin as Postmates is used daily by people across the US", Adelman said. "One of Lolli’s objectives to make bitcoin a part of people’s everyday lives. Our partnership with Postmates achieves this".
India: Supreme Court Gives Central Bank 2 Weeks to Justify Crypto Ban : William Suberg | CoinTelegraph
India’s Supreme Court has slammed the country’s central bank over its handling of a cryptocurrency business ban and ordered it to address complaints. In the latest session of an ongoing hearing into the actions of the Reserve Bank of India on Aug 21, the court ruled that officials had not appropriately responded to concerns from the cryptocurrency industry over its actions. The RBI forbade banks from servicing crypto operators such as exchanges in July 2018 — effectively stopping such platforms from continuing to operate in India. "Now justice Nariman questions RBI why you have not properly responded to the representation. You just said that we are forwarding to Govt. Angrily says this is not an answer", one update on Twitter read. Offers to defer the case for 2 weeks as part heard, let the answer come on reconsideration of banking ban by RBI. RBI has agreed." The case comes at the same time as the Indian government considers making cryptocurrency illegal for all Indians. In July, a government committee recommended Delhi moves to ban all tokens except an official digital version of the rupee.
Facebook-Owned WhatsApp Looks to Launch Digital Payments in Indonesia : Max Boddy | CoinTelegraph
Facebook-owned messaging service, WhatsApp, is purportedly in preliminary talks with multiple digital payments firms as well as a state-owned bank to launch digital payment services in Indonesia. Reuters reported that they had learned of this development from anonymous sources on Aug 20. WhatsApp’s plan for Indonesia is to support payments through digital wallets in the region, according to Reuters’ sources. The report further speculates that Facebook’s dealings in Indonesia could become a template that they later use to dodge local regulations, pertaining to bans on foreign digital wallets. A Facebook spokesperson confirmed that WhatsApp was negotiating with financial partners Indonesia, but declined to provide specifics. The launch of these services is, however, not expected until 2020, since WhatsApp is looking to launch in India at the same time or sooner, per the sources. According to the report, Facebook is still waiting on regulatory approval from India before they can launch WhatsApp-based payments.