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Amazon is ‘not close to adding crypto as a payment method’

Nov 22, 2019 Palo Alto / CA / USA – Close up of Amazon logo and Smile symbol at one of their corporate offices located in Silicon Valley, San Francisco bay area

After rumours circulated suggesting Amazon might add cryptocurrency as a payment option to its e-commerce platform, Amazon CEO Andy Jassy has quickly shut the rumours down.

In an interview with CNBC, Jassy said the e-commerce giant is not close to adding cryptocurrency as a payment option, though he believes in the asset class’ future, and that cryptocurrencies will “become bigger in the longer term.” In addition to digital currencies, Jassy also commented on Non-Fungible Tokens (NFTs), saying that it might be possible to sell NFTs on Amazon one day, and that the digital asset class that is currently plagued by scammers will “continue to grow significantly.”

Regardless, people can still shop off Amazon and pay with crypto — though not directly. Third-party websites like purse.io allow you to shop off Amazon’s extensive catalogue and pay with Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Zcash.

A lot of big companies have either started accepting cryptocurrencies as a payment method, while others have integrated the digital assets in some capacity.

For example, eBay allowed listings of NFTs on its platform as ‘Digital Collectibles,’ with the possibility that it will start accepting crypto as a payment method in the future. Twitter, on the other hand, allows its users to tip their favourite creators with Bitcoin, whereas Meta CEO Zuckerberg said last month that NFTs will arrive on Instagram ‘in the near term.’

Source: CNBC 

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Hamilton teen charged in $46 million crypto theft

An arrest has been made in a $46 million crypto theft that occurred back in March of 2020. The accused? A teenager from Hamilton, Ontario.

The investigation, which involved the FBI, the United States Secret Service and Hamilton Police, found that the victim was targeted by a SIM swap attack, where the accused manipulated cellular network providers to intercept two-factor authorization requests.

According to Hamilton Police, “This is currently the biggest cryptocurrency theft reported from one person.” Further, investigators stated that the accused was apprehended after part of the digital currency was used to acquire a rare username in a gaming community. ‘Gamer42069?’ We don’t know. The feds didn’t release the username information.

The accused is charged with theft over $5,000 and possession of property (the rare username) obtained fraudulently.

Via: CTV News