Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions – Bitcoin News

Bitcoin News— PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC […]

Bitcoin News—Scammers Trick Crypto Users With Faked USDT Balances, Slowmist Reports – News Bytes Bitcoin News. Slowmist, teaming up with Imtoken, has exposed a new cryptocurrency scam exploiting offline transactions and using USDT, where scammers manipulate Ethereum RPC to falsify USDT balances in the victim’s wallet. The con artists coax victims into changing their Ethereum RPC URL to one they control, making it appear as though USDT funds were deposited, only […]

Bitcoin News—Jack Dorsey's Block Faces DOJ Probe Over Alleged Transactions With Sanctioned Nations and Terrorist Groups – News Bytes Bitcoin News. Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions […]

Bitcoin News—Jameson Lopp's Bitcoin Testnet 'Griefing' Stirs Controversy – News Bytes Bitcoin News. Jameson Lopp, a prominent figure in the Bitcoin community, deliberately “griefed” one of Bitcoin’s testnets by generating three years’ worth of blocks in a single week to highlight a vulnerability, sparking outrage among fellow Bitcoin developers. Using just 20 lines of code and about $1 worth of electricity, Lopp’s action, intended to draw attention to […]