Ransomware Group Attacks US And Demands Crypto Payment, Coinbase Expands In Asia

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Last Updated on 6 July 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Although it’s been proven time and time again that criminal dealings make up only a very small percentage of Bitcoin trades (this isn’t like with Silk Road anymore you know). The simple fact that Russian hacking group REvil (what a name, you gotta give ‘em that) has taken over some 1 million computers at some 200 US companies and is asking for about $70 million to release these, shines a bad light on crypto. As a result, Bitcoin is trading steady to slightly lower on Tuesday morning and is changing hands for about $34,000.

A post from the dark web site Happy Blog read:

On Friday we launched an attack on [managed service providers]. More than a million systems were infected.

It comes only a few weeks after American President Joe Biden met with Russian President Vladimir Putin in Geneva and asked the leader of the Kremlin to hold back the Russian hackers which have attacked the US on multiple occasions this year. Clearly, these Russians did not get the message.

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Coinbase expands in Asia

Meanwhile US crypto platform Coinbase is trying to aggrandize operations in Asia to take the fight directly to Binance, still the biggest crypto platform worldwide.

In order to aggressively expand in India, Coinbase has decided to offer new employees $1,000

Pankaj Gupta, VP of engineering at Coinbase India, explained:

We’re introducing a new program called CIkka — short for “Coinbase India Sikka” — offering each new employee in India a one-time $1000 in crypto when they start.

With the average monthly salary in India being around $300, that is a huge sum to be offering of course. Don’t be surprised if Coinbase is able to grow fast in the Asian subcontinent.