Brazil Rolls Out Blockchain-Based Digital ID, Coinbase Gets Payment License In Singapore

Here are some of the major developments from the world of crypto over the past few days
Brazil Rolls Out Blockchain-Based Digital ID, Coinbase Gets Payment License In Singapore

Brazil is launching its new national identity program powered by Blockchain technology and over 214 million Brazilians will soon be using this Blockchain technology for digital identity.

Rio de Janeiro, Goiás and Paraná will be the first states to issue identification documents on-chain through a private Blockchain developed by Serpro, Brazil’s national data processing service. Thereafter, the entire country should be able to issue identity documents through Blockchain technology by Nov. 6, the government announced in a decree.

According to Alexandre Amorim, President of Serpro, the immutability and decentralisation of Blockchain made it an ideal technology for the country’s digital identification project. “Blockchain technology plays a critical role in protecting personal data and preventing fraud, offering a more secure digital experience for Brazilian citizens. Utilising the b-Cadastros blockchain platform significantly enhances the security and reliability of the National Identity Card project,” he said.

According to the Brazil government, the national ID project is crucial in targeting organised crime, besides allowing the government sectors to work together, while simultaneously offering a simpler way to access services and streamline administrative records.

Coinbase Gets Payment License In Singapore

United States-based cryptocurrency exchange Coinbase has obtained a payment license from Singapore’s central bank and is now expanding operations in the city state.

Coinbase announced in a statement on October 1, 2023 that it has obtained a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS). The new license — coming one year after Coinbase’s initial in-principle approval in Singapore — will allow the company to expand its digital payment token services to individuals and institutions in Singapore.

MPI-licensed firms are authorised to conduct payment services without being subjected to transaction limits of $SG 3 million ($2.2 million) for any payment service. The approved companies are also free from the $SG 6 million ($4.4 million) limit of monthly transactions for two or more payment services other than e-money account issuance and money-changing services.

North Korean Lazarus Hackers Using New Malware

North Korean hacking collective, the Lazarus Group, has been using a new type of “sophisticated” malware as part of its fake employment scams, which researchers warn is far more challenging to detect than its predecessor.

Peter Kálnai, senior malware researcher at the Slovak cybersecurity company, ESET, said that while analysing a recent fake job attack against a Spain-based aerospace firm, they found a publicly undocumented backdoor named LightlessCan.

The Lazarus Group’s fake job scam typically involves tricking victims with a potential offer of employment at a well-known firm. The attackers would entice victims to download a malicious payload masqueraded as documents to do all sorts of damage.

However, Kálnai says the new LightlessCan payload is a “significant advancement” compared with its predecessor, BlindingCan.  “LightlessCan mimics the functionalities of a wide range of native Windows commands, enabling discreet execution within the RAT itself instead of noisy console executions,” Kálnai said.

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