Bitcoin Crime Crypto russia Sberbank 

Russia’s KGB Successor Warns Terrorists are Turning to Cryptocurrencies

By CCN: Terrorist organizations getting support in the form of cryptocurrency are becoming the norm, according to Russia’s FSB director Alexander Bortnikov. As per local news portal RBC, citing media agency Tass, the chief of Russia’s Federal Security Service (the FSB’s successor) reported on the latest updates in the international terrorist networks at a meeting of the heads of security agencies of Commonwealth of Independent States (CIS) member states. “Electronic payment systems and cryptocurrencies are increasingly being used by terrorists to move money received from some states and organizations that…

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Bitcoin Crime bitgo Crypto Sean Coonce 

Crypto Engineer Details ‘Embarrassing’ $100,000 SIM-Hack Bitcoin Theft

By CCN: SIM hijackers aiming to steal bitcoin and other cryptocurrencies are getting bolder and more daring. No longer are they just going for the soft targets but are now even pursuing the technologically adept and sophisticated. One such victim is the engineering manager at cryptocurrency custodian BitGo, Sean Coonce. In a bold move, the blockchain engineer has publicly revealed that attackers stole bitcoin worth more than $100,000 from his Coinbase account. The attackers managed this over a period of 24 hours while carefully concealing any evidence that something was…

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bitcoin Bitcoin Crime Bitcoin Trading Crypto india 

Indian Bitcoin Trader Hangs Himself, Blames Senior Indian Cop in Suicide Note

By CCN: A bitcoin trader in India’s Gujarat State has been pushed to suicide after incurring losses in a cryptocurrency investment he made on behalf of a senior police officer. According to Ahmedabad Mirror, the Bharat Patel hanged himself early Sunday. This was after Chirag Savani, a deputy superintendent of police, and his elder brother, Harnish Savani (AKA Montu) pressured him to compensate them for losses they incurred after investing in bitcoin. In a suicide note, Patel explained that he had invested money belonging to the two brothers in bitcoin….

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Bitcoin Crime Crypto Sextortion U.K. u.s. 

Embarrassed Wankers Cough Up $1 Million in Bitcoin to Sextortinists

By CCN: Long ago the fear of going blind was drummed in people to prevent self-pleasure. Now the biggest fear seems to not being able to look your co-workers, friends and relatives straight in the eye if a compromising video of you lands in their hands. Scammers have realized this and are extorting bitcoin from victims and making a fortune out of it. According to an investigation conducted by cybersecurity firm Area 1, sextortionists have so far made $949,000. Initially reported by Fortune, the report claims that the average payout…

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Bitcoin Crime Crypto roger ver Ross Ulbricht silk road 

‘Bitcoin Jesus’ Preaches Libertarian Gospel of Crypto & Crack Cocaine

By CCN: Roger Ver took to YouTube to read another letter from Ross Ulbricht, creator of the first darknet market using Bitcoin. The libertarian idealist used the opportunity to rail against the war on drugs. Roger Ver Reads Letter from Silk Road Founder Ross Ulbricht Roger Ver – once nicknamed “Bitcoin Jesus” for his rabid crypto evangelism –  is more recently best known as a major proponent of Bitcoin Cash, which he views as remaining more faithful to the vision of Satoshi Nakamoto than Bitcoin. Ross Ulbricht, meanwhile, is currently…

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Binance Bitcoin Crime Bitcoin Exchange bitcoin hack Changpeng Zhao Crypto 

Binance Suffers a Security Breach, CZ Calls It ‘Not the Best of Days’

By CCN: Binance, the No. 1 cryptocurrency exchange based on trading volume, has been hacked. Changpeng “CZ” Zhao, who is at the helm of the exchange, made the announcement on Twitter after previously sharing that “unscheduled server maintanance” was unfolding. As it turns out, it was much worse than imagined, with hackers making away with 7,000 bitcoins, which at the current BTC price is worth approximately $40 million. The funds were stolen from Binance’s hot wallet, which was comprised of 2% of the exchange’s bitcoin holdings. Binance issued the following statement:…

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Bitcoin Crime Bitcoin Scams coincheck Crypto QuadrigaCX 

Q1 2019 Thefts, Fraud Hit $1.2 Billion

By Even as the bearish conditions in the crypto markets persisted in this year’s first quarter, bad actors in the sector continued to thrive. According to cybersecurity firm CipherTrace, during the first quarter of the year, the amount that bad actors generated from stealing from bitcoin exchanges and operating cryptocurrrency scams reached $1.2 billion in this year’s first quarter, as initially reported by Reuters. Cryptocurrency thefts, fraud hit $1.2 billion in first quarter: report #Cryptocurrency thefts alone reached $356 million in first quarter of 2019; Cross-border payments from US…

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bitcoin Bitcoin Crime Bitcoin Scams Crypto singapore 

Singapore Police Rescue Victim from Elaborate Bitcoin Machine Scam

By A police investigation involving bitcoin machines at Tampines One Mall in Singapore saved a 32-year-old man from scammers impersonating officials. They also helped a 49-year-old man not to transfer any more of his bitcoin to the alleged lying thieves. Singapore police warned on Saturday: “Do not fall for scammers who impersonate officials from China and ask victims to transfer money using bitcoin machines.” Also: “No government agency in Singapore will demand payment over the telephone or other social messaging platforms, such as WeChat or Facebook, or demand that…

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bitcoin Bitcoin Crime Bitcoin Exchange bitfinex Crypto Tether 

$850 Million Bitfinex Bombshell Disproves Crazy Bitcoin Conspiracy

By CCN: ShapeShift CEO Erik Voorhees made a valid observation on Twitter today, pointing out that there’s some degree of irony in the charges potentially facing embattled Bitcoin exchange Bitfinex: Tether had the cash reserves, despite wide speculation that the company had issued far more crypto tokens than it could settle. Ironically, this latest Bitfinex drama may be the one thing that disproves the “Bitfinex’ed” conspiracy theory. If USD in that amount was seized/stolen/held by Crypto Capital, then the USD backing Tether DID actually exist after all. @Bitfinexed claim was…

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bitcoin Bitcoin Crime Chainalysis Crypto 

Bitcoin is Criminals’ ‘Favorite’, Used in 95% of Crypto Crimes: Forensic

Bitcoin is the reigning champion of cryptocurrency criminals. That’s the conclusion of blockchain analysis firm Chainalysis, which discovered that bitcoin is used in 95% of crypto crimes. This finding isn’t surprising since bitcoin is by far the most popular and widely used of the 2,000 digital currencies around today. Levin: ‘bitcoin is by far the favorite’ of criminals “Bitcoin is by far the favorite,” Jonathan Levin, co-founder of Chainalysis, told Fortune. Interestingly, Levin says bitcoin is preferred over “privacy coins” such as Monero because it’s the most valuable and most-traded….

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