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Florida City Pays out Bitcoin Ransom to Hackers

Florida City Pays out Bitcoin Ransom to Hackers

In Florida, Riviera Beach’s city council has been forced to pay out a ransom of USD 600,000 in Bitcoin to hackers who targeted its computer systems. With email and 911 dispatches affected by the attack in May, River Beach City Council voted to pay off the hackers in order to protect their systems. Although Bitcoin is rarely used as ransom …


Investment Heavyweights Add Investment Spark to Digital Security Firm Fireblocks

Investment Heavyweights Add Investment Spark to Digital Security Firm Fireblocks

Fireblocks, a platform which secures and protects digital assets in transit, is getting some serious backing for its latest project from the proprietary investment arm of Fidelity International. The USD 16 million in Series A funding from investment heavyweights including Cyberstarts, Tenaya Capital, and Eight Road will now enable Fireblocks to seek further backing and further increase its development. The …


Big Brother Creator Suing Facebook over Fake Crypto Ads

Big Brother Creator Suing Facebook over Fake Crypto Ads (1)

John de Mol, Dutch billionaire and creator of the much-franchised reality show Big Brother, is to sue media giant Facebook for allowing fake ads on its platform to promote fraudulent Bitcoin-related businesses claiming that they had entrepreneur’s backing. De Mol, whose image was also used in some of the advertising, claims that he was not alone in being targeted in …


US Crypto Users Hit by Sim Jacking Flurry

US Crypto Users Hit by Sim Jacking Flurry

Over the past week, the US cryptocurrency community has been reeling from a recent wave of sustained SIM swapping attacks. The attacks were limited to the US alone and seemed to have targeted T-Mobile and AT&T customers. SIM swapping/jacking is a type of account takeover fraud that generally targets a weakness in two-factor authentication and two-step verification, where the second …


Australian IT Worker Charged for Crypto Mining at Government Agency

Australian IT Worker Charged for Crypto Mining at Government Agency (1)

Another case of an opportunist tapping into government computer systems in order to mine cryptocurrency has been revealed; this time in Australia. An Australian IT worker is facing charges after allegedly abusing his position as a contractor and illegally using government agency computer systems, according to Sydney police. Although the activity of illegally using government equipment for mining is quite …


Binance CEO Takes Sequoia Capital Back to Court on Reputation Claims

Binance CEO Takes Sequoia Capital Back to Court on Reputation Claims

Crypto exchange Binance‘s CEO Changpeng Zhao has just extended litigation battles with VC investor Sequoia Capital, after suing a unit of the firm in court, following an initial dismissal of their case against him. Zhao has claimed that the suit by Sequoia Capital China has already damaged his reputation, regardless of its dismissal. He says that it prevented him from …


US Court Awards Crypto SIM Swapping Victim $75 Million

US Court Awards Crypto SIM Swapping Victim $75 Million (1)

The Supreme Court in California has ruled in favor of crypto entrepreneur Michael Terpin, awarding him compensation and punitive damages equalling to USD 75.8 million. The judgment went against a 21-year old Nicolas Truglia, whom Terpin names as the person responsible for the theft of his cryptocurrency. Amid ongoing investigations into Truglia, who has been arrested for six other crimes, for …


Florida Court Orders Craig Wright to List Owned Bitcoin Addresses

Florida Court Orders Craig Wright to List Owned Bitcoin Addresses

Satoshi Nakamoto claimant Craig Wright has been ordered by a court in Florida to provide a list of owned Bitcoin addresses, which invariably might go a long way to prove whether or not he’s the real deal – Satoshi Nakamoto. According to a Tweet by WizSec Bitcoin Research, a court order has been issued to Wright to produce the lists …


IBM to Use Blockchain Against Bicycle Thieves

IBM to Use Blockchain Against Bicycle Thieves (1)

Forbes reports that IBM Benelux (Belgium-Netherlands-Luxembourg) is turning to blockchain technology to assist with the fight against bicycle theft in Netherlands, where 84% of the population owns one or more bicycles. There are more bicycles in the Netherlands than there are people. And since there are 17 million inhabitants with 13.5 million cyclists, it comes as little surprise that there  …


Australian Crypto Scams in 2018 Totaled $4.3 Million

Australian Crypto Scams Reported in 2018 Totaled $4.3 Million

Australia has become well known for its big push towards endorsing both blockchain and cryptocurrency use, but like anywhere the country is prone to scams as recent figures just released have revealed, with over USD 4 million dollars lost to cryptocurrency scams in 2018. However, it appears that the AUD 6.1 million lost to cryptocurrency scams last year was just …


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