Identity – Ƀitsell X

German Authorities Shut Down 47 Crypto Exchange Services in Cybercrime Crackdown

September 20, 2024

German authorities have dismantled 47 exchange services involved in facilitating anonymous crypto transactions for criminal activities. These platforms bypassed anti-money laundering protocols, enabling cybercriminals to exchange digital currencies without identity verification. The takedown follows a series of other operations targeting major cybercrime networks. With seized user and transaction data, authorities are set to pursue further…
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Crypto KYC Solutions Advance to Ensure Adoption and Better User Experience

December 14, 2023

Know-your-customer (KYC) measures are becoming more important as the cryptocurrency sector grows. These models have proven to help digital asset service providers prevent against crimes such as money laundering, terrorist financing and more. Yet while KYC processes can help financial firms better understand who their customers are, many KYC models remain time-consuming and challenging. A…
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China Plans to Verify Identities of its 1.4 Billion Residents Through Blockchain-Based Platform

December 12, 2023

Image Source: Pexels China has unveiled plans to use blockchain technology for the verification of real-name identities of its vast population of 1.4 billion people. The announcement came from the Blockchain-based Service Network (BSN), China’s national-level blockchain initiative, according to a report from the Insider. The initiative, named RealDID, was spearheaded by China’s Ministry of Public…
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Galxe replacing 110% of funds users lost in recent front-end hack, over $400K

October 11, 2023

The platform was the victim of a phishing scam that routed users to a website that drained their wallets after they approved a transaction. Galxe is making users whole by 110% if they lost funds in a recent hack, the firm announced on Oct. 10. “We want to express our deepest gratitude to those who…
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Identity Verification Crucial to Preventing Crypto Scams, says Concordium Founder

October 6, 2023

Concordium founder Lars Seier Christensen believes identity verification is essential in preventing cryptocurrency scams. “To prevent scams, there has to be some level of identity verification, a means to verify that the parties involved in any given transactions are actually who they claim to be,” Christensen said in a recent interview. Christensen’s comments come as high-profile figures like Mark Cuban continue…
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Brazil rolls out blockchain-based digital ID

September 30, 2023

Brazil is launching its new national identity program powered by blockchain technology. Rio de Janeiro, Goiás, and Paraná will be the first states to issue identification documents on-chain. Over 214 million Brazilians will soon be using blockchain technology for digital identity, the government recently announced. Rio de Janeiro, Goiás, and Paraná will be the first…
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Buenos Aires to issue blockchain-based digital ID

September 28, 2023

The first documents to be available on-chain in Buenos Aires include birth and marriage certificates, along with proof of income and academic verification. Buenos Aires, the capital of Argentina, is making a major move toward integrating its bureaucracy with blockchain technology. Starting in October, the city’s 15 million residents can access identity documents via a…
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Animoca plans to develop digital IDs and point system for Web3

September 11, 2023

Animoca Brands closed a funding round supporting the acceleration of the Mocaverse to create digital IDs and point system for Web3 culture, gaming and entertainment. The gaming and Web3 company Animoca Brands announced on Sept. 11 the closing of a funding round to accelerate the development of its Mocaverse platform. Animoca raised $20 million in…
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How easy is a SIM swap hack and how does one guard against it?

July 17, 2023

As SIM swap attacks are often seen as non-demanding in terms of technical skills, users must pay due diligence to their identity security. Despite the rise of cybersecurity infrastructure, the online identity still faces many risks, including those related to the hacks of one’s phone numbers. In early July, LayerZero CEO Bryan Pellegrino became one…
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The Many Facts That Indicate Bitcoin’s Creator Satoshi Nakamoto Was More Than One Person

July 16, 2023

Ever since the genesis of Bitcoin, the identity of its creator, Satoshi Nakamoto, has remained shrouded in profound intrigue, evolving into one of the most captivating enigmas of all time. While numerous speculators picture a solitary genius behind its inception, it’s plausible that this anonymous architect may actually be a collective entity. Allow us to…
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Tag: Identity