Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange

The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX. The accounts were frozen on October 25, Leah Li, a spokeswoman for Binance, told CoinDesk. The action was taken in response to pleas from WEX users who have been […]

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Judge Orders Trading Firm, CEO to Pay $2.5 Million in Bitcoin Ponzi Case

The Commodity Futures Trading Commission has won a legal battle against a New York resident and his company for running a Ponzi scheme centered around bitcoin. Between 2014 and early 2016, Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman ran a scheme wherein they successfully solicited $600,000 from 80 customers, claiming that customers would earn […]

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Crypto Mining Attacks Soar in First Half of 2018

Malicious cryptomining attacks jumped 956 percent from the first half of 2017 to the first half of 2018, IT security firm Trend Micro reported Wednesday. In its latest Midyear Security Roundup, Trend Micro researchers noted that there were more than 787,000 detections of malicious cryptocurrency mining software in the first six months of 2018, up […]

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Crypto Stock Exchange Operator Pleads Guilty to Fraud

The man behind two now-defunct cryptocurrency investment sites has pled guilty to securities fraud and obstruction of justice charges. The U.S. Attorney for the Southern District of New York announced the guilty plea on Monday, coming days after it was reported that Montroll was close to a deal with prosecutors. Jon Montroll was arrested back […]

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Federal Judge Wavers as CFTC Seeks Injunction in Crypto Fraud Case

The Commodity Futures Trading Commission (CFTC) is wrapping up its case against CabbageTech owner and accused crypto-fraudster Patrick McDonnell – but the hearings in New York this week have been anything but simple. The U.S. regulator is seeking a permanent injunction against McDonnell, who allegedly defrauded investors out of nearly $500,000, according to a lawsuit […]

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Over 1,000 Cryptocurrencies are “Dead Projects”

While not all cryptocurrencies and tokens are built to last, the math shows token projects and forked digital currencies abandoned, shut down, and scammed are far greater than one may think. “Dead Coins” As per data collated by Coinopsy and Dead Coins, two digital currency tracking websites, an estimated 1,000 cryptocurrencies projects are lacking any […]

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US Senators Discuss Crypto Threat to Domestic Elections

Cryptocurrencies are “tailor-made” for foreign powers hoping to influence American elections, a security consultant told a group of U.S. senators on Tuesday. Scott Dueweke, director of threat analysis company DarkTower, was one of several witnesses appearing before the Senate Subcommittee on Crime and Terrorism to discuss the potential use of cryptocurrencies by foreign agents in order to […]

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Judge Reopens Cryptsy Customer Class Action Against Coinbase

A judge in the U.S. District Court for the Southern District of Florida has reopened a case involving cryptocurrency startup Coinbase and the now-defunct exchange service Cryptsy. Cryptsy collapsed in early 2016 amid allegations of fraud and mismanagement and claims that it had been hacked and subsequently drained of its funds. That decline – preceded […]

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‘Cryptojacking’ Software Attack Hits Hundreds of Websites

Hackers have injected hundreds of websites running the Drupal content management system with malicious software used to mine the cryptocurrency monero. This latest incident was uncovered by Troy Mursch, the security researcher behind the website Bad Packets Report. He wrote Saturday that more than 300 sites had been compromised by hackers who installed the browser […]

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Iceland’s Missing Bitcoin Miners May Be In China

Iceland’s 600 missing bitcoin mining machines may be in China, local news reported last week. According to RUV, Icelandic police have sent Chinese authorities an inquiry after the latter country confiscated 600 mining computers. Police in the Tianjin area reportedly seized the machines after detecting unusually high electricity consumption, per Xinhua News. The Chinese news agency explained […]

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