Coinbase announced the expansion of its crypto Visa debit card service to six new countries across Europe. The expansion follows the card’s April debut in the U.K. and should see a rollout to more countries in the coming months.
Six more countries in the E.U. get access to Coinbase Card
The leading cryptocurrency exchange in the U.S., Coinbase, will see its Visa debit card service expand to six more European countries this month. According to the company’s official blog post, the Coinbase card will now be available to customers in Spain, Germany, France, Italy, Ireland, and the Netherlands.
Coinbase’s Visa debit card debuted in the U.K. in April this year after securing an e-money license in the country. After the launch, Zeeshan Feroz, the CEO of Coinbase U.K., told CNBC that the company was applying for a European e-money license and that it was hoping to expand to other European countries in the months that followed.
Paying with cryptocurrencies simplified
The Coinbase Card will be available in the 6 European countries as of June 12, the company said, with its CEO adding that it has seen “extremely strong take-up” since its U.K. launch.
While there is currently no official information on how many Coinbase Cards were issued in the past two months, Feroz said that the company “blew past” the initial 1,000 cards it offered users for free.
He also said that Coinbase plans on expanding the card into other markets as well, but is still searching for the right banking partners.
Users of the Coinbase Card are able to make fast, contactless payments everywhere where Visa cards are accepted. After syncing with Coinbase’s mobile app, users can select which cryptocurrency in their wallet they want to spend and switch seamlessly between Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic(ETC), Litecoin (LTC), and other ERC-20 tokens.
Customers interested in the Coinbase Card can request it through the Coinbase app by joining the waitlist. Once the waitlist closes, the users’ crypto balance will immediately be available through the in-app virtual card while they wait for the physical card to be sent through the post.
Mozilla Closes Holes That Led to Coinbase Hacks
19-11707 – first appeared in April 15 and hackers used them to spear-phish Coinbase employees. When they visited sites linked in the email the browser would download a piece of spyware to steal logins and other data.
Some detail from the exploit suggests that the bug could escalate privileges outside of the “sandbox” where most Mozilla code runs:
Insufficient vetting of parameters passed with the Prompt:Open IPC message between child and parent processes can result in the non-sandboxed parent process opening web content chosen by a compromised child process. When combined with additional vulnerabilities this could result in executing arbitrary code on the user’s computer.
The two vulnerabilities combined to create a perfect storm, allowing hackers to run malware installers instantly. Researchers discovered the exploits on April 15 and they suspect that hackers saw them in Mozilla’s Bugzilla bug tracking database and exploited them before they could be patched. The hack did not effect Coinbase users.
Mozilla is asking users to update their browsers in order close these holes.
Coinbase CFO on speculative trading, Facebook’s Libra runs into trademark trouble and more
Crypto News – 22 June
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Recent Firefox zero-day attack targeted Coinbase employees
It is being reported by ZDNet that the recent announcement made by Mozilla to update Firefox due to a vulnerability came from a specific attack that was unleashed against both Coinbase as well as other exchanges. Fortunately the attack was deterred and all funds are still safe.
Coinbase originally detected the attack on Monday and subsequently announced the following to Mozilla:
“On Monday, Coinbase detected & blocked an attempt by an attacker to leverage the reported 0-day, along with a separate 0-day Firefox sandbox escape, to target Coinbase employees.”
This is what prompted Mozilla to issue a patch for the code and immediately warn all users to update. What makes the story stranger though, is the fact that the exploit was originally on April 15th by Groß, a security researcher with Google Project Zero security team.
The article compiles a list of scenarios in which the attackers could have found out about the exploit, despite Mozilla not having disclosed the information yet:
“- the attackers discovered the same RCE bug on their own
– they obtained the info from an insider with access to Mozilla’s security bugs portal
– they compromised a Mozilla employee’s account and accessed the Bugzilla portal’s security section
– or, they hacked the Bugzilla portal, similar to an incident from 2015″
While it is unclear how it happened, what is important is that the software has been patched and Coinbase was able to intercept the attack before any issues arose. Philip Martin, a member of the Coinbase security team, is quoted:
“We walked back the entire attack, recovered and reported the 0-day to Firefox, pulled apart the malware and [infrastructure] used in the attack, and are working with various orgs to continue burning down [the] attacker’s infrastructure and digging into the attacker involved.”
For now, all is well, but this could have led to a major hack of one of the largest and most popular crypto exchanges out there. Will we see further attacks? Stick with Chepicap for all updates!
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