A report called “Encryption Trends in Mexico 2020/2021” surveyed a total of 353 representatives from companies throughout Mexico. The study, published by privacy research center the Ponemon Institute, indicated that 40% of the Mexican companies surveyed were looking to adopt blockchain and cryptocurrencies in some form. Out of this segment, 71% were focused specifically on crypto usage. The figures also showed that 51% of these companies were intent on implementing blockchain for asset management and transaction handling purposes, while 37% expressed an interest in the implementation of smart contracts. Many of these companies could ultimately use blockchain to improve their …

Popular hardware wallet company Ledger recently announced that they had passed a notable security evaluation, known as SOC 2 Type 1. This certification came following a significant data breach the company suffered in June. Ledger did not, however, decide to conduct its security audit because of the breach, according to comments from a Ledger representative. "Ledger is always seeking to raise the security standards and has been working on getting the attestation prior to the data breach," the representative told Cointelegraph. News of Ledger's completed SOC 2 Type 1 audit came in October, essentially giving the market a level of …

A Gibraltar-based company says it is building a digital asset exchange that will be fully compliant with regulations from the United States Securities and Exchange Commission, the Financial Industry Regulatory Authority and the European Union. According to INX, the evolution of blockchain-based currencies and assets is finally beginning to gain steam — and governments around the world are beginning to realize that digital payments are here to stay. The company’s team consists of top executives from some of the world’s biggest financial institutions, including American Express, Morgan Stanley, Standard Chartered, HSBC, TD Ameritrade and Societe Generale. INX says its vision …

Ledger, a crypto company providing a number of hardware wallet solutions, has obtained a successful System and Organization Controls, or SOC, Type 1 test. Friedman LLP, a New York-based accounting firm, ran the SOC 2 Type 1 test on Ledger, according to a statement provided to Cointelegraph: "By obtaining the SOC 2 Type 1 report, we are now able to provide an additional layer of verified security to our clients, assuring that the Vault solution is secured at all times and that we have the processes in place to ensure availability." A crypto storage solution for larger players and companies, …

The KuCoin cryptocurrency exchange is partly restoring deposits and withdrawals following a major hack. As KuCoin officially announced on Oct. 7, the platform has completed the wallet security upgrade for major cryptos like Bitcoin (BTC), Ether (ETH), and Tether (USDT). Following the upgrade, KuCoin has resumed the deposit and withdrawal service of BTC, ETH, and ERC-20-based USDT. According to the announcement, USDT running on other blockchains like EOS, Tron, and Omni is not yet available for withdrawals. KuCoin stated: “KuCoin is gradually restoring the deposit and withdrawal services of all tokens, and the full service of USDT will also resume …

China’s first blockchain-powered hospital is set to launch sometime in 2021, but some government officials voiced concerns over data security. According to Cn-Healthcare, the First Affiliated Hospital of Dalian Medical University will launch a pilot program by January 2021 as blockchain integration is still incomplete. The hospital will use the blockchain to store patient and treatment information. The operators also said that such a blockchain-powered platform will allow patients to access the so-called “internet hospital” services via a WeChat applet, whose blockchain network stores consultation and treatment data by aiming to maximize contactless solutions due to the pandemic. However, officials …

The Royal United Services Institute and the Association of Certified Anti-Money Laundering Specialists, collaborating with YouGov, conducted a survey on authorities' perception of the crypto industry. "The RUSI-ACAMS Cryptocurrency Risk & Compliance Survey provides unprecedented insight into how governments, the cryptocurrency industry, traditional financial institutions, and others view the use of cryptocurrency, including its inherent risks and the robustness of compliance controls within the cryptocurrency sector," the survey says. The endeavor questioned authorities worldwide, ultimately receiving 566 different insights. The survey reveals a number of results, including disagreement on the safety of crypto-asset use. Mainstream entities polled see the asset …

IoTeX, a privacy-focused platform for the Internet of Things, has partnered with camera manufacturer Tenvis Technology to offer Ucam, an indoor security camera powered by blockchain technology. Head of business development at IoTeX Larry Pang told Cointelegraph that Ucam users can access their camera data through a decentralized system and log in with an “uncrackable” password. The camera or a user’s mobile phone handles all the computing, meaning decryption occurs on the devices, letting users control their own data. “A private key is used to end-to-end encrypt all the data,” said Pang. “We need to have technology that guarantees our …

Crypto exchange security is once again in the news after hackers breached KuCoin. But this shouldn’t surprise people as exchanges are vulnerable by design, according to Bybit CEO Ben Zhou. Zhou told Cointelegraph that exchanges act as a single point of failure. As a centralized web application, exchanges are susceptible to the same security issues as all other websites. Security becomes even more important as investors and traders are increasingly taking exchanges to task to protect funds. The vast majority of crypto exchange servers and storage networks, Zhou said, keep digital currencies in hot wallets. If hot wallets are not …

Back in April of 2020, Cointelegraph took a close look at the KuCoin cryptocurrency exchange. Investigating the apparent lock of the primary domain name, which was a result of a legal case under the jurisdiction of the High Court of Singapore, we concluded that: In the absence of clarity from any of the individuals mentioned in this article, or from the company itself, users of the KuCoin cryptocurrency exchange will likely want answers on whether they are sending their money to Singapore, the Seychelles, China — or anywhere else in the world. Now $150 million is missing from KuCoin in …

Keeping pace with the rapidly developing decentralized finance niche within the crypto industry, major crypto exchange Binance has called on blockchain auditing company CertiK to beef up its platform's security. "The rapid innovation and experimentation of DeFi is what makes it so great, but speed should not compromise security," CertiK's chief operating officer, Daryl Hok, told Cointelegraph. "We're providing a way for early adopters to continue to reap the benefits without having to be the guinea pigs bearing the brunt of the risk. As security experts in the field, we're in a unique position to extend the security promise to …

INX, a cryptocurrency firm holding the first-ever token initial public offering approved by the Securities and Exchange Commission, has chosen a digital asset custody provider. According to an announcement Thursday, INX has enlisted Israeli crypto startup GK8 for digital asset custody for its upcoming crypto exchange. INX tweeted that the platform will use GK8's end-to-end platform for managing and safeguarding digital assets. The platform includes GK8’s patented “air-gapped vault that can create, sign, and send blockchain transactions while staying 100% offline,” INX noted. Based in Gibraltar, INX is planning to raise $117 million from its ongoing security token IPO targeting …