Revolut has reported a data breach to the Lithuanian State Data Protection Inspectorate. Personal info such as names, addresses, email addresses, telephone numbers, payment card data and account details for about 50,000 of its customers across the globe may have been exposed.
Revolut claims that the hackers, who used social engineering methods to infiltrate its database, have been identified and locked out. However, the attack reveals that substantial risk is involved in entrusting centralized financial institutions with our personal data. In a letter posted on Reddit, Revolut said that the customer’s card data had been hashed and that no PINs or passwords had been compromised. It added that, “Although your money is safe, you may be at increased risk of fraud. We recommend that you be especially vigilant for any suspicious activity, including suspicious emails, phone calls or messages.”
The Helium Foundation announced that its community has voted to move its mainnet to the Solana blockchain. A total of 7,447 votes were cast, of which 6,177 supported the proposal and 1,270 voted against it. The move comes right after Nova Labs, the developer of Helium Network, had announced a partnership with T-Mobile to launch a 5G wireless service for smartphones.
As per the proposal, Helium network and governance tokens — HNT, IOT and MOBILE — will relocate to the Solana Blockchain. The developers said that the move will enable reliable, faster and more scalable data transfer, including consistent mining and increased utility for its native HNT token.
The United States Commodity Futures Trading Commission (CFTC) has filed a federal civil enforcement action against a decentralized autonomous organization and the holders of its governance tokens. Charges have been brought against respondent bZeroX, LLC and its founders Tom Bean and Kyle Kistner for “illegally offering leveraged and margined retail commodity transactions in digital assets.” The financial watchdog has imposed a penalty of $250,000 on these respondents.
The suit filed by the CFTC in the Northern District Court of California has also charged Ooki DAO, alleging that it used its decentralized structure to evade regulatory purview. “DAOs are not immune from enforcement and may not violate the law with impunity.” The CFTC classified Ooki DAO as “an unincorporated association, comprised of holders of Ooki Tokens,” thus chargeable in the lawsuit. “
“The Ooki DAO has never been registered with the commission in any capacity,” the complaint noted. “The order finds the DAO was an unincorporated association of which Bean and Kistner were actively participating members and liable for the Ooki DAO’s violations of the Commodity Exchange Act and CFTC regulations,” the Commission stated.
Following the filing, the CFTC Commissioner Summer Mersinger dissented by calling the move “blatant regulation by enforcement” and noted that the action fails to “rely on the legal authority” of CFTC’s mandate. “I cannot agree with the Commission’s approach of determining liability… we cannot arbitrarily decide who is accountable…” Mersinger said.