Crypto Wallet Trezor Alerts False App

Trezor, a cryptocurrency wallet hardware provider, warned users on Monday (Jan. 18) of Trezor’s “malicious” fake app on the Google Play store, Cointelegraph reported.

According to Cointelegraph, the rogue app is still available to install and has been downloaded over 1,000 times.

In other news, the Dubai Financial Services Authority (DFSA) plans to develop a regulatory framework for digital assets.

“The DFSA is committed to staying ‘open to business’ in relation to innovation in the financial services sector and is continuing to explore how our regulatory regime can accommodate new and innovative business models,” said the DFSA in its Business Plan 2021-2022.

In the business plan, the DFSA stated that the framework must support the nation’s digital transformation, while improving its “cyber resilience.”

“We intend to take a regulatory approach that facilitates innovation while requiring strict adherence to DFSA’s licensing, prudential and conduct requirements,” the DFSA said in the plan.

Meanwhile, CoinDCX India launched a new mobile app, CoinDCX Go, on Tuesday (January 19), to provide a “fast check-in trading experience,” for new entrants, CoinDesk reported.

According to a survey conducted by CoinDCX, nearly 60 percent of Indians feel that investing cryptocurrency is “extremely challenging,” the report noted. CoinDCX, the largest crypto exchange in India, is trying to change that.

“The focus is to make consumers see the merits of the industry by paying attention to detail,” CoinDCX CEO Sumit Gupta said, according to CoinDesk.

CoinDCX Go users will be able to trade small amounts of 14 of the largest digital coins, including bitcoin, ether and a binance coin, according to CoinDesk. The app comes without deposit and withdrawal fees.

Crypto BitGo’s custodian will secure user funds, and the app will be protected by anti-money laundering (AML) algorithms, artificial intelligence (AI) algorithms, CoinDesk reported. The exchange sees potential in the app to attract 50 million new users.

A gang of men finally stole $ 448,700 in cash from a Hong Kong-based cryptocurrency trader on Monday (January 18), the South China Morning Post reported.

The trader had sold digital currency to one of the men in three separate transactions, according to the report. Believing he was interested in another transaction, he transferred $ 448,700 in digital money to his online wallet in exchange for the cash equivalent. Then three men with knives rushed to the room and stole the cash and his iPhone.

A similar robbery occurred on Jan. 4, according to the announcement, when a man was paid for handing over 15 bitcoin to a purchaser, but the cash was then immediately stolen back from him.

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NEW PYMNTS DATA: SHIFT PARADIGM STUDY RETAIL BANKING SERVICES – JANUARY 2021

About: January 2021, The Retail Banking Services Paradigm Change Report, PYMNTS examines how consumers choose to engage with their FIs when accessing information about various products and services, especially since the start of the pandemic.

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