Tagged: bitcoin

Report: Softbank Founder Masayoshi Son Lost $130 Million on Bitcoin

The Wall Street Journal has reported this week that, on the advice of “a Bitcoin evangelist,” Softbank founder Masayoshi Son invested big in Bitcoins at the height of the market, then lost $130 million when he sold his position as the coin began to crash…. Read More

Indiana Family Worried About Bitcoin-Rich Seasteader Wanted by Thai Authorities

Relatives of Chad Elwartowski, a “pure libertarian” wanted by the Thai government for setting up a “seasteading” platform on an abandoned oil rig within the country’s waters say they are concerned about his well-being. Elwartowski’s sister, Delynne Elwartowski, told the Detroit Free Press that her… Read More

UBS Tech Analyst: If It’s Like Other Bubbles, Bitcoin Could Take 22 Years to Recover

Numerous cryptocurrency commentators, most of whom are “bag holders” themselves, have been fond of announcing in the press and on social media the inevitable and imminent outsize ballooning of the price of Bitcoin. This phenomenon was particularly common during Bitcoin’s parabolic run up at the… Read More

FinCEN Fines and Bars Independent Cryptocurrency Exchanger

The Financial Crimes Enforcement Network (FinCEN), part of the US Department of Treasury, has fined the operator of a peer-to-peer cryptocurrency trading service $35,350 USD and barred him from money-transmitting, “for willfully violating the Bank Secrecy Act’s (BSA) registration, program, and reporting requirements.” In a release… Read More

Bitcoin Nonprofit BitGive Announces New User Experience With Uphold Partnership

BitGive, a Bitcoin 501(c)(3) nonprofit announced this week it has formed a partnership with Uphold, a digital money platform, to have donation tracking platform GiveTrack integrated with Uphold through API. BitGive reported that through the integration, users will be able to donate to any of… Read More

Bitcoin-Funded Seasteading Project in Thailand Sparks National Security Incident

A libertarian “seasteading” venture launched by a Bitcoin-rich American and his Thai wife off the coast of Phuket has induced a national security response from the Thai Navy, Bangkok Post reports. Chad Andrew Elwartowski and Supranee Thepdet (aka “Nadia Summergirl”) have reportedly established “a living… Read More

Winklevosses and Shrem, Early Bitcoiners, Settle Old Score

The Winklevoss twins have reached a settlement with Charlie Shrem in the case they brought against him last November claiming he stole $61 000 USD of their funds and used them to buy 5000 Bitcoins in 2012. While details of the settlement are not publicly… Read More

In New Jersey’s Largest Ever Pill Bust, Three Men Accused of Laundering $2.3 Million Using Bitcoins

Three New Jersey men have been indicted in what the New York District Attorney claims is the largest seizure of illicit pills ever executed in New Jersey State. The accused, Chester Anderson, 44, Jarrette Codd, 41, and Ronald McCarty, 51, allegedly ran drug “store fronts”… Read More

China: WeiyangX Fintech Review

China Implements First National Standard for Insurance Sector On April 11th, China has implemented its first national standard for the insurance industry. The national standard incorporates 817 entries of professional terms, serving as a fundamental standard for various terms in the insurance sector, according to… Read More

Millions Stolen in Attack on Electrum Bitcoin Wallet Service

Hackers have launched a 140 000-machine botnet DoS (denial of service) attack against servers hosting popular Bitcoin wallet service Electrum, Hard Fork reports, and millions of dollars of Bitcoins have already been stolen from Electrum wallet users as a result. Electrum is a bitcoin “hot… Read More

Prolific Romanian Cryptojackers, ID Thieves and Fraudsters Convicted in Ohio

Two of three Romanian cybercriminals who targeted American citizens and businesses from abroad in elaborate cybercrime schemes initiated in 2007 have been convicted in Ohio. Bogdan Nicolescu, 36, and Radu Miclaus, 37, will be sentenced August 14th after being found guilty of 21 counts of… Read More

Head of Mt Gox Harmed Investor Group Steps Down, Accuses Former Mt Gox CEO of Trying to “Rob Peter to Pay Paul”

The coordinator of Mt Gox Legal (MGL), a group of investors seeking redress following the loss of funds on now defunct early Bitcoin exchange, Mt Gox, has sent a letter to fellow investors stating that he stepping down and is selling his claim for $600… Read More

Prolific 22-Year-Old Unlicensed Bitcoins Dealer Sentenced to Two Years Imprisonment

Jacob Burrell Campos, 22, from Rosarito, Mexico, has been sentenced to two years in prison and will forfeit $823,357 “in illicit profits” after being convicted of running an unlicensed money transmission business, that, “…(sold) hundreds of thousands of dollars in Bitcoin to over 1,000 customers throughout… Read More

China’s State Planning Commission Proposes Ban on Cryptocurrency Mining

China’s National Development and Reform Commission (NDRC) has reportedly added cryptocurrency mining to, “a revised list of industries it wants to encourage, restrict or eliminate,” Reuters reports. Cryptocurrency mining appears on the list along with 450 other industrial activities the NDRC says should be, “phased out… Read More

Bitcoin Donations Sought as Julian Assange Arrested, Removed from Ecuadorian Embassy in London

Julian Assange, the controversial founder of the transparency group Wikileaks, was arrested by British police and removed from the Ecuadorian embassy early this morning. A statement from London’s Metropolitan Police reported by the Washington Post indicates that Assange was, “arrested on behalf of the United… Read More

London Crypto Extortionist Who Worked for Russian Crime Group Sentenced to Six Years

A 24-year-old hacker who used malware-disseminating ads on porn sites to lock millions of computers and extort cryptocurrency ransoms received a six-year prison sentence this week in London, The Register reports. According to The Birmingham Mail, the accused, Zain Qaiser, “worked for an international Russian… Read More

Bitfury Confirms Layoffs at Hut 8 Cryptocurrency Mines in Alberta

The price of Bitcoins made a newsworthy jump of 20% last Monday morning, and that gain is still holding, but the lean early months of 2018 saw a second round of layoffs at Hut 8, “Canada’s largest cryptocurrency miner,” CBC reports. Hut 8 runs 85… Read More

Wealth Manager: Bitcoin is Gambling- Do Not Buy It. Buy Investments “That Pay You to Own Them”

Though Bitcoin’s much-reported recent reawakening from its 15-month slumber may entice certain investors into the fray, wealth manager Peter Mallouk warns that Bitcoin and other cryptocurrencies remain poor investments, CNBC Make It reports.  “What we’re going to see, most likely, is, we’re going to see… Read More

“CIA” (Not Really) Demands Bitcoins In Latest Sextortion Scam

A new batch of “sextortion” emails are making the rounds, says cybersecurity firm Trustwave, and the latest scam has two unique features. Sextortion spam may be randomly distributed or sent deliberately to high net worth individuals or people known to have or likely to have… Read More

Alleged Toronto Drug Dealer Forfeits $1.9 Million in Bitcoins

An alleged drug dealer from the Toronto suburb of Mississauga, who pleaded guilty in December to using Bitcoins to buy drugs and a gun on the Dark Net, has had the bulk of his Bitcoins seized this week by a Toronto court, The Toronto Star… Read More

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