#Brazil’s #central bank has created a permissioned digital ledger platform that will enable data sharing among financial regulators, #Finextra reports today, June 20.
The ledger, called the Information Integration Platform for Regulators (Pier), will be used by regulators to exchange information on general authorization processes of financial institutions, ranging from administrative processes to the conduct of employees. Additional information not related to administrative sanctioning processes can also be shared if mutual interest is shown.
Pier, developed by the Banco Central de Brasil’s IT department (Deinf), will connect the Securities and Exchange Commission of Brazil (CVM), and the National Pension Funds Authority (Previc). The platform is currently in alpha testing, with plans to go live at the end of 2018.
Deputy head of Deinf, Aristides Cavalcante, said in a statement that the impetus to develop a #blockchain platform came from the benefits of horizontal information sharing, adding that “Furthermore, as the blockchain platform records every data request using cryptographic signatures, it is possible to certify at any moment the authorship, and that no entity has tampered with the data, and thus guaranteeing information authenticity." In April, Cointelegraph published an #Expert Take on how a presidential cryptocurrency money laundering scheme has led Brazil to implement more blockchain tech, specifically with the use of documenting funding on the #Ethereum (ETH) blockchain.
Breaking: #SouthKorean#Crypto#Exchange#Bithumb#Hacked, Thieves Steal $30 Million
South #Korean#cryptocurrency exchange Bithumb has suspended #deposits and withdrawals after losing $30 million worth of #cryptocurrencies as the result of an apparent #hack.
The Seoul-based company, once the world’s largest cryptocurrency #exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform.
It is not clear at what time the theft occurred, but Bithumb suspended deposits at approximately 00:53 #UTC and immediately began transferring all of its assets to cold wallets to prevent further losses. “We checked that some of cryptocurrencies valued about $30,000,000 was stolen,” Bithumb said on Twitter. “Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.” [Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.
— Bithumb (@BithumbOfficial) June 20, 2018
The theft presumably occurred as the result of a hack, though the exchange has not formally confirmed this. Given the relatively small size of the theft, it’s likely that a hacker managed to gain access to an internet-connected “hot wallet” for one of the more thinly-traded assets listed on the platform.
Bithumb said that the company will cover all losses so that users will not be affected, other than by the temporary inability to move their assets. Deposits and withdrawals were suspended as of the time of writing at 1:58 UTC.
Bithumb currently ranks as the world’s sixth-largest and South Korea’s second-largest cryptocurrency exchange, with a daily trading volume of just over $330 million, according to CoinMarketCap.
The incident marked the second time a South Korean exchange had been hacked this month. Less than two weeks ago, little-known bourse Coinrail lost approximately $37.2 million worth of coins, including a variety of #ERC-20 #tokens.