South America: Crypto and Blockchain News Roundup, 24th to 30th August 2018

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South America: Crypto and Blockchain News Roundup, 24th to 30th August 2018

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South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.


Crypto jacking incidents becoming more common: The Argentinian online community is experiencing increased software and malware attacks resulting in cryptojacking and other cryptocurrency-related cyber crimes.

More than 55% of the online community suffered malware attacks in the country and while most were related to personal identity theft and data theft, increased instances of cryptojacking are being reported as well.

More than 160 million malware attacks were recorded by Kaspersky anti-virus lab throughout Latin America. While the number of cryptocurrency-related attacks weren’t clear, they are clearly on the rise based on the reported user incidents.


Crypto investment platform hacked, data of 264,000 users leaked: Popular Brazilian cryptocurrency investment platform Atlas was hacked earlier this week, leaking user information. The parent company repeatedly made reassurances that funds were safe.

The security breach was first announced by a Youtube channel Investimentos Digitais (Digital Investments). All in all, there are 14,500 records regarding leaked user balance data. Overall, there are around USD 39 million worth of BTC deposited on the platform.

According to a popular Brazilian crypto blog Portal do Bitcoin, users have come forward, claiming that the data is real. Atlas acknowledged the situation and said:

“We would like to point out that this wasn’t a Bitcoin theft or a violation of our accounts in the exchanges. However, our customer base was exposed. At the time of the incident, we took immediate steps to protect the database and [the] passwords and private keys are encrypted.”

New security measures were also announced by Atlas within a short time to protect user funds.

Architect launches Bitcoin hostel in Rio: A cryptocurrency-themed hostel was announced by Alessandro Santos, an engineer and architect from Paraty, a city located 260 km away from Sao Paulo.

The hostel announced last week as Hostel Bitcoin and booked for its inaugural day. Santos says that the hostel’s services including breakfast, tours and lodging can be paid in cryptocurrencies. Right now, only Bitcoin is available but soon, the hostel will also accept Ripple and Monero.

Government sends crypto exchanges questionnaires: The Brazilian government has sent top cryptocurrency exchanges operating in the country a series of questionnaires.

The 14-point questionnaire was sent through the government’s contract forms throughout the last two weeks. Some received it earlier and some later. The document was sent by the Finance Deparment of the government and signed by prosecutor Ana Paula Bez Batti.

While it is illegal to share the questionnaire, a copy was obtained by Portal do Bitcoin and the questions mostly revolved around operations of the crypto exchanges.


P2P Bitcoin trading spikes in Chile: Chile saw a massive spike in trading volumes in P2P cryptocurrency trading platforms like LocalBitcoins recently following regional trend accelerated by spiraling local currencies.

It is believed the fears of hyperinflation like in neighboring country Venezuela are still present in the country, reminiscent of its own period of inflation back in the 1970s and 1980s. These are pushing people to adopt cryptocurrencies to cushion any effects of hyperinflation in the local currencies.


Petro crypto nowhere to be found: Petro, the state cryptocurrency, is facing difficulties in adoption in the country as the current system braces for its deployment. Shops, banks and retailers are nowhere close to adopting it.

President Nicholas Maduro, an avid supporter of the state cryptocurrency, added to the confusion by saying salaries, pensions and the like will now be pegged to the cryptocurrency. Experts believe that the Bolivar-Petro tether is now workable.

The president also ordered the banks to adopt cryptocurrencies  in the country, creating another economic crisis in the country.


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