Posts in category

Bitcoin Scams


This post was originally published here Cryptocurrency exchange YoBit is going to perform a pump scheme on random coins, according to an Oct. 10 tweet. A pump and dump scheme is a form of fraud that attempts to artificially boost the price of an asset through misleading or false recommendations. YoBit Pump in 22 hrs: …

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This post was originally published here Ethereum-based adult entertainment platform SpankChain has suffered a smart contract security breach that led to loss of around $38,000, the firm reported on its Medium page Oct. 9. The hack, which purportedly took place Oct. 6, was detected by SpankChain a day after, and was announced today in a …

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This post was originally published here This week, a United States federal district judge ruled that an allegedly fraudulent crypto token meets the definition of a commodity. That brought the case under the Commodity Futures Trading Commission’s (CFTC) purview, which has long argued that virtual currencies constitute commodities. Here what it means — and how …

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The U.S. Federal Trade Commission (FTC) is warning consumers about a new type of bitcoin scam that attempts to blackmail men. Scammers are sending letters threatening to expose an alleged secret to men, and asking for a “confidentiality fee” paid through bitcoin, wrote Cristina Miranda, a member of the FTC’s Division of Consumer and Business …

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Over $6.2 mln (662.4 mln yen) of cryptocurrency was lost in 2017 due to fraud and theft, according to statistics released from Japan’s National Police Agency (NPA), local news outlet Nikkei reports today, March 22. This number does not include the over $500 mln hack of NEM from Japanese crypto exchange Coincheck in late January. …

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Bitcoin (BTC) tech entrepreneur Jonathan Hamel appeared in front of Canada’s House of Commons Standard Committee on Finance yesterday, March 19, and declared: “Pay close attention, other cryptocurrencies are downright scams, like BCash [Bitcoin Cash (BCH)].” Hamel first posted on Twitter about his upcoming testimony during a Parliamentary cryptocurrency discussion, without mentioning BCH: I will …

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While Bitcoin may have revolutionized the way we look at transactions and banking, the brief nine-year existence of cryptocurrencies has been checkered with some monumental hackings and thefts. In a constantly evolving space, Blockchain technology is pushing the envelope while battling against attacks from all sides. Unfortunately, criminality is a reality, but there has been some …

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The Australian Taxation Office (ATO) has recently issued a warning about a new type of scam claiming fake tax debt on behalf of ATO, and requesting tax payment via Bitcoin (BTC) and other cryptocurrencies in a public release updated on March 14. In the warning, ATO Assistant Commissioner Kath Anderson stated that the new kind …

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Microsoft’s Windows Defender Antivirus has blocked an attack of more than 400,000 attempts over a span of 12 hours for trojans to infect users with a cryptocurrency miner, according to a Microsoft blog post on March 7. Windows Defender’s research showed that a little before noon (PST) on March 6, Windows Defender Antivirus began detecting …

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Hacked Japanese cryptocurrency exchange Coincheck will return stolen funds to customers “by the end of next week,” it announced March 8. According to a blog post quoted by Cointelegraph Japan, Coincheck, which lost $534 mln in NEM tokens to hackers in January 2018, will also seek to reopen its exchange services by the same deadline. …

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The Poloniex cryptocurrency exchange tweeted that they would be undergoing scheduled maintenance on their wallet service on Thursday, March 8, which has extended without comment from the company for over a day. Poloniex stated that the routine maintenance, which could affect withdrawals for certain currencies, would begin around 12:30 p.m. EST Thursday and that wallets …

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North Korean hackers are suspected in a cyberattack on Turkey’s financial sector, as stated in a report released by McAfee March 8. The McAfee Advanced Threat Research team identified an attempt by the hacking group Hidden Cobra to breach the security of Turkish government-backed financial institutions on March 2 and 3. While McAfee policy is …

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New Jersey regulators sent a cease and desist order to organizers of the Initial Coin Offering (ICO) endorsed by Steven Seagal, documents show March 7. The summary order, filed by State of New Jersey Bureau of Securities (BoS), accuses the entities behind Bitcoiin2Gen (B2G) of “fraudulently offering unregistered securities in violation of the Securities Law.” …

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The Australian Federal Police (AFP) are investigating two employees at the Bureau of Meteorology for allegedly using the bureau’s computers to mine cryptocurrencies, the Australian Broadcasting Corporation (ABC) reports today, March 8. The AFP appeared at the Bureau of Meteorology last week, Feb. 28, with a search warrant and questioned two IT employees, one of …

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US cryptocurrency exchange and wallet provider Coinbase faces a fresh lawsuit, filed March 2, alleging it “kept” funds that its users sent via email, but which recipients never claimed. A class action document filed at the United States District Court for the Northern District of California by Restis Law Firm on behalf of two Coinbase …

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Federal prosecutors are seeking the forfeiture of more than 500 Bitcoin (BTC) (worth about about $5.5 mln) seized during the investigation of a group producing fake identity documents, according to the Ohio Department of Justice’s March 1 news release. A federal grand jury has indicted four people from Ohio for producing and transferring fake driver’s …

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Researchers at the BIG Blockchain Intelligence Group Inc. have traced some of the $534 mln in NEM (XEM) stolen in the Jan. 26 Coincheck hack to a Vancouver-based crypto exchange, according to their March 1 press release. The Japan Communist Party Central Committee’s newspaper also reported today, March 2, that 24 mln NEM coins from …

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Apple co-founder Steve Wozniak allegedly lost seven bitcoins to fraudsters using a stolen credit card, the India Economic Times reported Monday, Feb. 26. The tech veteran was speaking at the Global Business Summit 2018 in New Delhi when India Economic Times reported him admitting to the audience he had lost the funds – seven bitcoins …

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Four unknown men kidnapped Yury Mayorov, the creator of cryptocurrency PRIZM, Forklog news outlet reported yesterday, Feb. 26. According to Forklog, Mayorov was robbed of $20,000, 300 bitcoins (BTC), and three iPhones. Data on CoinMarketCap shows that PRIZM has a total market cap of around $15.5 mln, and is trading at around $1.04 by press …

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Elon Musk, the tech billionaire and entrepreneur known for founding and leading Tesla Motors and SpaceX, revealed on Twitter Thursday Feb. 22, how much Bitcoin (BTC) he owns — 0.25 BTC or about $2,478 as of press time, or 0.000012% of his total net worth. Musk’s cryptocurrency holdings reveal comes after a number of fake …

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