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Istanbul Cryptocurrency Firm Loses $2.47 Million, Hackers In Custody

An undisclosed cryptocurrency exchange in Istanbul, Turkey was hacked this week of a reported USD 2.47 million. The company was attacked by a group which has now been detained by Turkish authorities after a nationwide investigation across 8 provinces, and so far has only recovered USD 256,000 of the stolen funds. The exchange alerted the authorities at the time, reporting …


Cryptopia Gets Green Light to Reopen After Hacking

Cryptopia Gets Green Light to Reopen After Hacking

New Zealand cryptocurrency exchange Cryptopia, which was hacked almost exactly a month ago, has been given the green light to reopen as local police wind up their inquiries. Cryptopia has over 2 million global users and offers trading for one of the world’s largest range of cryptocurrencies. January’s hacking resulted in the loss of some $USD 6 million worth of …


Fake Photo Scams Largely Ineffective but Illustrate Need for Cold Storage

Fake Photo Scams Largely Ineffective but Illustrate Need for Cold Storage

With reported instances of the latest ploy for hackers to access user funds, photo scamming is further proof that cryptocurrency cold storage is by far the safest way to keep digital assets secure. Doctored images are now for sale on dark web forums according to research by Hold Security and warnings from Bank Info Security, and can be purchased for …


HSBC Whistleblower Is Developing His Own Cryptocurrency

HSBC Whistleblower Is Developing His Own Cryptocurrency

Hervé Falciani, the French-Italian whistleblower who helped track down tax evaders with 130,00 Swiss bank accounts in the 2008 Valencia Polytechnic University crash, is to launch a new cryptocurrency. Falciani became renowned as the HSBC ex-employee turned whistleblower who provided several European countries classified information on thousands of Swiss bank clients who were evading taxes, most of which were managed …


Winklevoss Twins Ordered to Pay Legal Costs for Shrem Case

Winklevoss Twins Ordered to Pay Legal Costs for Shrem Case

Bitcoin entrepreneurs and Gemini founders Tyler and Cameron Winklevoss have been ordered to pay USD 45,000 in legal costs in an ongoing case from 2013 against convicted BitInstant owner Charlie Shrem. The payment relates to a lengthy court case in which the Winklevoss twins had instigated an investigation and asset freeze on Shrem concerning money owed to the brothers from a …


Bitcoin is Money Says Florida Judge After Court Ruling

Bitcoin is Money Says Florida Judge After Court Ruling

A Florida appeals court has overturned an acquittal that based its original decision on the grounds that Bitcoin was not actually classified as money at the time. The original decision had thrown out charges against Michell Espinoza, who sold bitcoin worth around $1350 to an undercover police detective in 2014, on the grounds that Bitcoin was not legally money, but …


Report: Japan, South Korea Playground for Bad Actors in 2018

Report: Japan, South Korea Playground for Bad Actors in 2018

The latest CipherTrace report into cybercrime has revealed that much of the USD 1.7 billion worth of cryptocurrency stolen in 2018 came from the Asian Bitcoin arena of Japan and South Korea. In the “Cryptocurrency Anti-Money Laundering Report, 2018 Q4”, it is stated that out of the funds either stolen through hack or scams, about USD 950 million came from cyber …


Italian Court Orders BitGrail to Repay Missing Crypto Worth $170 Million

Italian Court Orders BitGrail to Repay Missing $170 Million Crypto

The long-running case against cryptocurrency exchange BitGrail has reached another stage in Italian courts with a judge ordering the exchange’s founder to repay a missing USD 170 million worth of cryptocurrency. The original hacking prompted BitGrail to freeze trading in February, followed by the Nano community starting a legal fund through creditor Espen Enger who represented nearly 600 victims at …


UK Man Arrested for Alleged Role in $11.4 Million IOTA Heist

UK Man Arrested for Alleged Role in $11.4 Million IOTA Heist

A 36-year-old Oxford man was arrested in the UK yesterday on suspicion of defrauding cryptocurrency investors out of USD 11.4 million worth of IOTA, according to the BBC. The man is alleged to have stolen the cryptocurrency from 85 different people and had become the subject of a Europe-wide investigation involving state police from Hesse in Germany, Europol, and the …


Cambridge Scholars Invent Scheme to Track Stolen Bitcoin

Cambridge Scholars Invent Scheme to Track Stolen Bitcoin

A group of students from the UK’s prestigious Cambridge University has outlined a system whereby stolen Bitcoins might be able to be traced. With the official number of stolen Bitcoins currently standing at over USD 1 billion in BTC, until now, such coins have remained largely untraceable. But three students, Mansoor Ahmed, Ilia Shumailor and Rose Anderson, have released their …


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