Crypto Developer Raises $4 Mln From Samsung, Others to Launch Wallet Without Private Keys

ZenGo uses new forms of transaction signing to simplify the crypto experience for non-technical new crypto users Israeli cryptocurrency developer KZen has raised $4 million from backers including South Korean electronics giant Samsung, industry news outlet The Block reported on April 17.The company’s product, smartphone wallet app ZenGo — currently in beta phase testing — aims to simplify custodial wallet usage for entry-level cryptocurrency users.Using a combination of split key storage and biometric security features, the company hopes users will be able to benefit from a simple wallet user interface while not relying on a third party or themselves to hold their private keys and other sensitive information.A smartphone and cloud storage form the two sharers of information needed to sign a transaction, part of a setup called threshold signatures.“ZenGo uses open source threshold cryptography to replace the private key and all the troubles related to securely managing non-custodial wallets,” CEO and cofounder, Ouriel Ohayon, wrote in a blog post on April 15.…

Report: Malware Targets Israeli Fintech Firms Working in Crypto, Forex Trading

According to a cybersecurity company, Israeli fintech companies are being targeted by malware. Israeli fintech companies that work with forex and crypto trading are being targeted by malware, according to a blog post from threat research department Unit 42 of cybersecurity company Palo Alto Networks published on March 19.Per the report, Unit 42 first encountered an older version of the malware in question, Cardinal RAT, in 2017.…