News Bytes Daily Summary for Friday, May 4th: CoinTouch Shuts Down Over GDPR, Mastercard Blames Cryptocurrencies for Growth Drop, Kitty Malware Targets Drupal Sites to Mine Cryptocurrency, Basis Introduces “stable” Cryptocurrency

News Bytes for May 4, 2018

Use our news to inform cryptocurrency trading decisions, stay up-to-date on happenings in the industry, and more!

P2P Cryptocurrency Exchange CoinTouch Shuts Down Over GDPR Concerns

Blockchain’s own David Murray reports peer-to-peer (P2P) cryptocurrency exchange CoinTouch has shut its virtual doors over concerns related to the passage of the European Union’s new General Data Protection Regulation (GDPR), taking effect later this month.

Mastercard Blames Cryptocurrencies for Drop in First-quarter Growth

Mastercard customers can buy in and out of cryptocurrencies, and store them into their crypto wallet. But some banks have prohibited the practice including Bank of America, Chase, Citgroup, and JPMorgan who in February banned using credit cards for cryptocurrency purchases. Mastercard shares dropped by 2% this quarter with their CFO Martina Hund-Mejean stating that “this is due to the recent drop-off in crypto wallet funding,” on their earnings call Wednesday.

Kitty Malware is Targeting Drupal to Mine for Cryptocurrency

ZDNet reports that “The vulnerability allows threat actors to employ various attack vectors to compromise Drupal websites. Scanning, backdoor implementation, and cryptocurrency mining are all possible, as well as a data theft and account hijacking.” And even worse, “the malware is also commanded to infect other web resources with a mining script dubbed me0w.js”, which attacks any future visitors of the website as well.

Basis Introduces a “stable” Cryptocurrency That Aims to Cut Volatility

Backed by billionaire Stanley Druckenmiller and Federal Reserve chair runner-up Kevin Warsh, Basis “aims to keep a stable value around $1 by increasing and shrinking supply”, the company’s founder told CNBC Friday.

Carlie Fairchild

Carlie Fairchild is the Publisher of Linux Journal. She’s been actively engaged in the Linux community for two decades and is responsible for setting the magazine’s overall direction. Carlie leads a motley team of geeks and journalists to ensure that Linux Journal stays true to its founding ideologies of personal freedom and open-source technical innovation.

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