Leak at Ledger, FinCEN wants stricter regulation and a new Bitcoin fund

Photo by Dmitry Demidko on Unsplash

Personal data of thousands of customers Ledger leaked

The Bitcoin-space is startled by the news that the breached database was released publicly online. It showed that far more sensitive data had been stolen. The hack already happened in Juni 2019, but the attackers started dumping the data on online forums.

“When you have a data breach of this magnitude for such a small company, we won’t reimburse for a million users, all the devices, that’s just not possible. It would just kill the company,”

Ledger estimate that a portion of 270,000 users have had their names, delivery addresses and telephone numbers posted online. And yet, the firm won’t be providing any compensation.

Source: Decrypt

FinCEN proposes KYC for withdrawing Bitcoin to private wallets

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a notice of proposed rulemaking that would require money services business to submit reports, keep records and verify the identity of customers, specifically for withdrawing it out of the platforms.

They use another terminology for these non-custodial wallets: “digital currencies held in unhosted wallets … or held in wallets hosted in a jurisdiction identified by FinCEN.”

FinCEN defined “unhosted wallets” as a “software program or written record” through which users store the private keys needed to access and exchange cryptocurrencies like bitcoin.

The proposed rule would, in effect, require bitcoin exchanges to collect, store and share personal information from users who transfer their bitcoin private keys from those exchanges to their own private wallets, as well as transaction information.

Source: BitcoinMagazine.com

Former White House communications director is considering to launch a Bitcoin fund

SkyBridge Capital, the hedge fund managed by former White House communications director, Anthony Scaramucci, is considering to launch a Bitcoin fund, according to an application submitted with the US Securities and Exchange Commission (SEC).

The hedge fund’s Form D filed with the regulator detailed that it wants SkyBridge Bitcoin Fund L.P. as the issuer of the new fund, while SkyBridge Bitcoin Fund GP LLC will be a related person.

The filing means that Scaramucci, also a former Goldman Sachs vice president, wants to approach only accreted investors. Though the target size of the investment fund is not disclosed, it will seek a minimum investment of $50,000.

Source: Finance Magnates

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