Tag Archives: brazil

Brazilian Crypto Exchange Mistakenly Sends User $35 Million on $127 Withdrawal

Advertisement Brazilian crypto exchange Bitcambio has reportedly sent one of its users a whopping RS $137 million – equivalent to about $35 million – after the user attempted to withdraw 500 reals, worth roughly $127. According to local news outlet Portal do Bitcoin, the cryptocurrency exchange started calling the user, Kaique Nunes, about the withdrawal shortly after. Speaking… Read More »

Report: Number of Routers Affected by Crypto Malware Doubled Since August, Reaching 415K

The number of MikroTik routers affected by cryptojacking malware has repotedly doubled since summer 2018, reaching 415,000, security researcher VriesHd tweeted Sunday, Dec. 2. Since August, VriesHd has been reporting on crypto malware that targets routers and forces them to mine cryptocurrencies along with the researchers from Bad Packets Report. They revealed that routers by Mikrotik, a Latvian… Read More »

Major Latin American Bank Conglomerate Itau to Create Blockchain Platform for Small Loans

Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4. Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services. The two entities have successfully conducted a proof-of-concept (PoC) for… Read More »

Crypto Exchange Huobi Dismisses 6 of Its 10 Employees in Brazil: Report

Advertisement Twitter Facebook LinkedIn Major cryptocurrency exchange Huobi has recently dismissed 60% of its workforce in Brazil, a country it entered a few months ago. While the motive behind the move is currently unclear, competition in the country could be the culprit. According to local news outlet Portal do Bitcoin, Huobi Brazil’s CEO Frank Tao confirmed over the… Read More »

Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil

Japanese bank holding and financial services company Mitsubishi UFJ Financial Group, Inc. (MUFG) said it will use Ripple (XRP) to create a new cross-border payments service to Brazil in a press release Nov. 9. MUFG, which has demonstrated an increasing interest in cryptocurrency products, will partner with Brazil’s Banco Bradesco to create the platform through its local subsidiary… Read More »

Japan’s Biggest Bank Will Use Ripple for Cross-Border Payments to Brazil

Japan’s biggest bank MUFG and Brazil’s Banco Bradesco are to collaborate on a new cross-border payment service based on Ripple technology. Memorandum of Understanding The two banks signed a Memorandum of Understanding (MOU), agreeing to co-develop the system. Mitsubishi UFJ Financial Group is Japan’s largest banking group and recently announced it would launch its own cryptocurrency. It provides… Read More »

World’s Fifth Largest Bank Will Use Ripple For a Japan-Brazil Cross-Border Interbank Payment Service

In an official press release issued by the MUFG on November 9, 2018, the finance giant announced the signing of a Memorandum of Understanding To Develop A New Cross-Border Payment Service as part of a joint effort between MUFG and Bradesco. The Brazilian subsidiary of Japan’s largest bank signed an agreement with Sao Paulo-based Banco Bradesco, a leading… Read More »

Brazil: Tether’s New Banking Partner Deltec Suspected of Accepting Laundered Funds

Brazilian law enforcement has solicited the help of Bahamian authorities to investigate suspicious transactions to Deltec Bank & Trust – the recently-announced new banking partner of controversial stablecoin Tether (USDT) – major Brazilian newspaper O Globo reports Nov. 6. As per the report, the Federal Public Prosecutor’s Office in São Paulo is on the trail of Paulo Vieira… Read More »

Brazil Tax Authority Orders Crypto Exchanges to Provide Monthly Reports

Brazil’s tax regulator, the Department of Federal Revenue, is requiring local cryptocurrency exchanges to report their operations on a monthly basis in order to verify tax compliance and improve the country’s fight against money laundering and corruption.Brazillian Cryptocurrency Exchanges to Report Monthly Trading Data to AuthoritiesCiting the examples of Australia and South Korea, the Brazillian authorities announced they… Read More »