Samsung Stores in Three Baltic Countries Start Accepting Cryptocurrency Payments

  • Samsung stores in the Baltic region are reportedly accepting payments in various different cryptocurrencies, including bitcoin and ethereum.
  • Per reports, Samsung will start accepting cryptos in other regions and online.

Electronics giant Samsung has recently started accepting cryptocurrency payments in Latvia, Estonia, and Lithuania, and is reportedly going to start accepting various cryptos on other regions in the future.

According to a blog post published by cryptocurrency payment processor CopPay, Samsung is now accepting bitcoin (BTC), litecoin (LTC), ethereum (ETH), dash (DASH), ripple (XRP), NEM (XEM) and steem (STEEM) in its Baltic region stores. The post reads:

Customers in Tallinn, Riga, Vilnius and Kaunas can buy Samsung smartphones, tablets, laptops, TV-sets, and more with digital money.

CopPay

Per CopPay, there’s a “growing trend toward business digitalization and allowing customer to pay for goods and services in cryptocurrency,” a trend that the electronics giant is seemingly joining.

The European cryptocurrency payment processor further noted that the “crypto-payment feature will be available soon at Samsung’s internet stores,” presumably meaning users outside of the Baltic region will be able to buy smartphones, tablets, laptops, and more using cryptocurrency.

Cryptocurrencies have been notably growing in popularity in the Baltic states, with most of them having relatively lax regulations towards the sector. In Latvia, as CryptoGlobe covered, the government may impose a 20% capital gains tax on crypto transactions.

While regulators in these countries have warned that investing in cryptocurrencies is risky and that these aren’t recognized as legal tender, it’s seemingly legal to buy, sell, and hold cryptocurrencies.

Samsung itself has been slowly entering the cryptocurrency space. Earlier this year, it started producing cryptocurrency mining chips. In April, the South-Koran giant revealed it was looking into distributed ledger technology to improve efficiency for its massive global shipments network.

It’s worth pointing out that CopPay lets merchants who use its services either keep received funds in crypto, trade them for their equivalent in fiat, or a mixture of both options. Whether Samsung will keep the cryptocurrencies it receives is unclear.

Bitcoin Ransomware Hackers Lose Control of Their Decryption Tool

Michael LaVere
  • Software firm Emsisoft warns that attacks broke their own decryption tool for the Ryuk ransomware.
  • Affected users are at risk of having their files deleted despite paying the bitcoin ransom. 

A security firm has warned that the Ryuk bitcoin ransomware has broken its own decryption tool, causing affected users to lose their files even after sending the BTC ransom. 

Software company Emsisoft told news outlet The Next Web that the hackers behind the Ryuk ransomware are responsible for the decryption error. According to the security firm, a recent update made to Ryuk caused the program to alter the way it calculates the length files, inadvertently making the decryption tool defunct, 

As a result, the decryptor provided by the Ryuk authors will truncate files, cutting off one too many bytes in the process of decrypting the file. Depending on the exact file type, this may or may not cause major issues.

Users who pay the crypto ransom are still at risk of losing their files and data, depending on where the byte cutoff is made. 

Emsisoft recommends Ryuk victims backup encrypted data before running the decryption key,

A final word of advice: prior to running any ransomware decryptor – whether it was supplied by a bad actor or by a security company – be sure to back up the encrypted data first. Should the tool not work as expected, you’ll be able to try again.

Featured Image Credit: Photo via Pixabay.com