August 16, 2019

1. Hi Norman!

Meet Norman, the latest virus plundering Monero 

What you need to know

A security company has discovered a new breed of cryptojacking malware, used to secretly mine cryptocurrency on unwilling victims’ computers. Varonis Security Research came across it after being called to investigate a company that suspected it had been hacked. It then named the delinquent software Norman.

Why it's important

Upon closer inspection, Norman is an XMRig-based cryptominer, something we’ve noticed previously has grown in popularity among the crypto-jacking community. In the first half of this year, a report from cybersecurity company Check Point said that XMRig-based crypto-miners have infected 6.3 percent of organizations worldwide. 

However, Check Point also reported that malicious crypto-miners are in decline overall, which is probably due to the closing of crypto-jacking service Coinhive back in March–leaving the throne empty for a new cryptojacking contender. Over to you, Norman. 

Read the story in full

2. Wright thrown out

Wright’s attempt to dismiss a longstanding suit against him came to a grinding halt as a district judge branded him untrustworthy. 

What you need to know

A Florida federal judge has denied self-proclaimed Bitcoin inventor Craig Wright’s motion to dismiss a lawsuit concerning the alleged theft of several billion dollars’ worth of Bitcoin from a former business partner, Dave Kleiman. 

Citing Walter Scott’s edict, “Oh what a tangled web we weave when first we practice to deceive,” Florida District Judge Beth Bloom said Wright had repeatedly misled the court by offering “conflicting statements.”

Why it's important

“Defendant argued that the Court cannot both rely upon and find that the statements and evidence provided by him are untrue,” wrote Bloom, quoting Wright saying: “Judge, if everything’s a lie, then the stuff they rely on when Wright files a contract, or when Wright makes a statement, can’t be credited either.” 

“Here, Defendant’s argument is novel,” Bloom continued. “He seems to argue that even though his numerous conflicting statements are the very reason confusion has been created as to the ownership of W&K, the Court should nonetheless use these statements as a basis to challenge the Court’s subject matter jurisdiction. In essence, the Defendant uses the evidence proffered as both his sword and his shield.”

Read more here

From the interweb

Here are the biggest stories in the cryptoverse:

Want to check out other great emails?

We have a whole host of awesome newsletters you can subscribe to. Step right this way to sign up.
Sign up to our newsletters

3. Bridging old worlds and new

MakerDAO's Dai can now be spent anywhere in the U.K. that accepts Visa


What you need to know

Dai stablecoins can now be used to buy things anywhere in the U.K. that accepts Visa, thanks to a new partnership announced todaybetween MakerDAO, Monolith, and Digix. 

Available in 31 countries across Europe, the Monolith debit card allows users to spend digital assets converted to GBP or EUR in their non-custodial Contract Wallet.


Why it's important

By allowing Dai holders to spend their tokens on everyday purchases, the partnership enables one of the first bridges between decentralized financial products and traditional retail markets.

As a result, the DeFi dream is one step closer to being “everywhere you want to be.”

We cover this story here

Paxful surges

Business is booming for Bitcoin peer-to-peer exchange Paxful, thanks in large part to the onboarding of “institutional clients” to its platform, according to Paxful CEO Ray Youssef.

Without naming names, Youssef told Decryptthat “smaller, entrepreneurial financial institutions” were responsible for a 70 percent surge in bank transfers on Paxful’s platform in July. In fact, between June and July, bank transfers on Paxful jumped from about $4 million to over $7 million in volume, according to a report from the company.

Read more here.

Thanks for reading today's Daily Debrief, see you tomorrow.

We're always looking for ways to improve this newsletter so if there's anything you'd like to see, get in touch! 

Like what you read?  Share the Daily Debrief with a friend.

They can simply click the button below to sign up and we'll do the rest.

Join The Daily Debrief 👉

How did we do?

Great!       Meh.        Bad.