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Here’s Where $800 Of Bitcoin Buys You $10,000 Cash

Researchers from cloud security-as-a-service provider Armor’s Threat Resistance Unit (TRU) have been taking a deep dive into a dozen dark markets and forums. Analysis of the data compiled from trawling these English and Russian-speaking criminal marketplaces has been published in the annual Armor Black Market Report. As well as the usual tracking of the prices for stolen credit cards, bank account credentials and Distributed Denial of Service (DDoS) for-hire operators, there was one surprising new trend: a Bitcoin to cash conversion scheme that offers criminal buyers the opportunity to buy cash for pennies on the dollar. Paying $800 (£647) in Bitcoin gets you $10,000 (£8,095) in cash.

The Black Market Report

The Armor Black Market Report is the result of researchers from the Armor TRU trawling through underground internet markets and criminal forums. These “dark markets” are notorious for selling just about anything that can be stolen online, from personal and financial data to illicit services such as articles of incorporation for creating shell companies, the distribution malicious spam and even hackers for hire who will scrub your credit history.

The TRU research team analyzed and compiled data from twelve dark markets and criminal forums visited between February and June 2019. It came as no surprise to me that they found cybercriminal after cybercriminal selling credentials for as yet “unhacked” Windows remote desktop (RDP) servers. These are often used by ransomware actors looking for an entry point into corporate networks. That these credentials were being sold for as little as $20 (£16) was unexpected though. The cost of entry, quite literally, to the ransomware threat sector has never been cheaper.

Today In: Innovation

Neither, for that matter, has the cost of cold, hard cash. The TRU researchers found that, partly to get noticed in a crowded market and partly to offset the risk of monetizing stolen banking and credit card accounts, entrepreneurial threat actors are selling cash for between 10 and 12 cents on the dollar. This isn’t, as you might have guessed, a case of criminal philanthropy.

Instead, it’s a method for criminals to offload the risk of monetizing stolen account credentials by transferring the funds available rather than taking possession of them. It’s still money laundering, and it’s illegal, but it puts the most significant weight of risk onto the buyer.

Here’s how the buy cash for Bitcoin scheme works

The seller offers bundles of cash in various amounts, from $2,500 (£2,020) to $10,000 (£8,095) in exchange for a pre-paid fee in Bitcoin. That fee varies between 10% and 12%. Which means that $10,000 of cold cash can be bought for $800 in Bitcoin.

The buyer makes the payment and then chooses how they would like to collect the cash. This can be a straightforward transfer of funds to a bank or PayPal account or wired via Western Union. As well as getting a significant return on their illicit investment, the purchaser no longer has to worry about monetizing online bank account or credit card credentials. It’s a turn-key service; there’s no risky logging into compromised accounts, no money mules to worry about, just the (totally illegal) collection of cash.

“For those scammers who don’t possess the technical skills and a robust money mule network to monetize online bank account or credit card credentials, this is an offer that can be very attractive,” Chris Hinkley, head of Armor’s TRU team said, “the threat actors are still selling financial account and credit card credentials outright, but this clever service gives them an additional channel for monetizing the large amounts of financial data available on the underground.”

Money mules served well by dark market documentation

One of the other interesting things to come out of this analysis was the fact that cybercriminals are selling articles of incorporation and sole proprietorship papers on the dark market. Not shocking, but interesting. While the cash for Bitcoin transactions gets rid of the money mule requirement, there are still plenty of people who adopt that role, and these papers are aimed at them. A money mule is someone who transfers stolen money between accounts in exchange for a fee of between 10% and 20% of the value. For a money mule to be successful, they need to open business bank accounts that don’t trigger fraud alerts on larger transfer volumes. To open these accounts, they need an Employer Identification Number (EIN) assigned by the U.S. Internal Revenue Service, and that’s where the documentation to create shell companies enters the equation. The documentation does not come cheap, however. Sole proprietorship papers complete with EIN were found on sale for $1,611 (£1,298), and Articles of Incorporation with EIN were $811 (£653).

Follow me on Twitter or LinkedIn. Check out my website.

I’m a three-decade veteran technology journalist and have been a contributing editor at PC Pro magazine since the first issue in 1994. A three-time winner of the BT Security Journalist of the Year award (2006, 2008, 2010) I was also fortunate enough to be named BT Technology Journalist of the Year in 1996 for a forward-looking feature in PC Pro called ‘Threats to the Internet.’ In 2011 I was honored with the Enigma Award for a lifetime contribution to IT security journalism. Contact me in confidence at davey@happygeek.com if you have a story to reveal or research to share

Source: Here’s Where $800 Of Bitcoin Buys You $10,000 Cash

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Warning Issued After Malware Is Found To Have Hijacked Bitcoin Blockchain

Bitcoin’s blockchain has been hijacked by a new strain of the Glupteba malware that uses the network to resist attacks, cyber security researchers have warned.

The malware uses the bitcoin blockchain to update, meaning it can continue running even if a device’s antivirus software blocks its connection to servers run by the hackers, security intelligence blog Trend Micro reported this week.

The Glupteba malware, first discovered in December 2018, is distributed through advertising designed to spread viruses through script and can steal an infected devices’ browsing history, website cookies, and account names and passwords with this particular variant found to be targeting file-sharing websites.

However, according to researchers, the new version of the malware can also mine the privacy-specialized monero cryptocurrency and threaten the security of Instagram users’ accounts.

The malware uses the Electrum bitcoin wallet to send bitcoin transactions that the attackers use to gain access to systems.

“This technique makes it more convenient for the threat actor to replace command and control servers,” Trend Micro researchers wrote. A command and control server is the centralized computer that issues commands to an infected network of devices.

The Glupteba malware, first discovered in December 2018, is distributed through advertising designed to spread viruses through script and can steal an infected devices’ browsing history, website cookies, and account names and passwords with this particular variant found to be targeting file-sharing websites.

However, according to researchers, the new version of the malware can also mine the privacy-specialized monero cryptocurrency and threaten the security of Instagram users’ accounts.

The malware uses the Electrum bitcoin wallet to send bitcoin transactions that the attackers use to gain access to systems.

“This technique makes it more convenient for the threat actor to replace command and control servers,” Trend Micro researchers wrote. A command and control server is the centralized computer that issues commands to an infected network of devices.

“If they lose control of a command and control server for any reason, they simply need to add a new bitcoin script and the infected machines obtain a new command and control server by decrypting the script data and reconnecting.”

It’s not the first time the bitcoin blockchain has been taken advantage of by criminals, with German researchers last year discovering child abuse imagery shared via the decentralized network.

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I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Warning Issued After Malware Is Found To Have Hijacked Bitcoin Blockchain

by Christian Karam & Vitaly Kamluk The blockchain is the public ledger stacking all bitcoin/altcoins transactions. It is constantly growing as “completed” blocks are automatically added to it with a new set of records. The blocks are added to the blockchain in a linear and chronological order. The blockchain has complete information about the addresses and their balances right from the genesis block to the most recently completed block through the mining process. Depending on the crypto-currency and the implementation of its protocols, there would be a fixed open space, where data can be stored, referenced or hosted on the blockchain within encrypted transactions and their records. This very versatile nature of the blockchain offers great opportunities for future innovation especially in decentralized systems. The research focus revolves around the threat of embedding decentralized chunks of malware on the blockchain by either hosting it or referencing it with cascaded pointers. Transactions and data are encrypted throughout the blockchain networks using different versions of public/private key encryption. Could malware survive eternally inside crypto-transactions? A proof of concept will be explained highlighting the concerns revolving around the “abuse and bloating” of the blockchain while comparing it to previous malware hosting and deployment models. In this talk, INTERPOL will frame the scope of this future threat and provide potential solutions for a threat surrounding the blockchain technology.

Bitcoin Warning As Serious Security Vulnerabilities Uncovered

Bitcoin developers have been trying to make the world’s most popular cryptocurrency more useful for payments, with the somewhat controversial Lightning Network one of the most popular projects.

However, serious security vulnerabilities have this week been discovered on the bitcoin Lightning Network, which could result in users losing their funds if nodes are not upgraded.

“Security issues have been found in various Lightning projects which could cause loss of funds,” wrote software developer, Rusty Russell, who authored the majority part of bitcoin’s Lightning Network protocol specification, in a post shared via a Lightning Network mailing list. “Full details will be released in four weeks, please upgrade well before then.”

The specifics of the vulnerability will be disclosed on 27 September, a common software security practise to both prevent bug exploitation and give developers time to patch problems.

The vulnerability appears to be related to the lightning-ready bitcoin wallet Eclair, which Russell also advised users to update.

The Lightning Network, first proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper, creates a layer on top of the bitcoin blockchain, where transactions can be passed back and forth before being added to the underlying blockchain.

Today In: Money

This should mean bitcoin transaction speeds are increased while costs are significantly reduced.

There are now a few different Lightning-ready wallets available, as well as companies that are able to process them on behalf of merchants.

However, low user numbers mean bitcoin lightning nodes currently lose money when they process transactions, according to recent reports.

When sending a Lightning payment, two parties deposit the funds at one bitcoin address, a so-called channel, in which they can exchange funds a limitless number of times.

This maintains bitcoin’s security but means small, regular payments don’t need to be added to the underlying blockchain until the channel is closed.

Questions have been raised about what Lightning Network adoption will mean for the bitcoin price, with much of the price dependent on transaction fees picked up by miners.

Most are though confident that with increased bitcoin adoption the price will continue to rise.

Follow me on Twitter.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Bitcoin Warning As Serious Security Vulnerabilities Uncovered

By Daniel Chechik, Ben Hayak, and Orit Kravitz Chechik A mysterious vulnerability from 2011 almost made the Bitcoin network collapse. Silk Road, MTGox, and potentially many more trading websites claim to be prone to “Transaction Malleability.” We will shed some light and show in practice how to exploit this vulnerability.

The Large Bitcoin Collider Is Generating Trillions of Keys and Breaking Into Wallets – VICE

Since we first published this article, major security flaws in the Large Bitcoin Collider client have come to light. Check out our follow-up reporting on these issues here.

For nearly a year, a group of cryptography enthusiasts has been pooling their resources on a quixotic quest to brute-force crack one of bitcoin’s cryptographic algorithms for creating wallet addresses. This is thought to be impossible today, but if they succeed, at least one element of bitcoin’s cryptography will be instantly obsolete.

It’s probably due to the scope of the challenge that the project is called the Large Bitcoin Collider, after the Large Hadron Collider, the world’s largest particle accelerator. But instead of new physics, the Large Bitcoin Collider is hunting cryptographic collisions—essentially proving that a supposedly unique and random string of numbers can be duplicated. More on collisions and their ramifications for bitcoin later, but along the way the LBC is using its computing power to try and bust open bitcoin wallets owned by other people, and potentially taking the coins inside.

Read More: The Great Physical Bitcoin Robbery

The basics are this: bitcoin addresses containing funds can be accessed by private keys, which are generated at the same time as the address. Technically, a number of private keys could work with any given address, but you’d need a huge amount of computing power to brute force your way through enough possibilities to find any of them. The LBC attempts to accomplish this by recruiting the computing power of anyone who’s willing to download and run their software.

Finding a private key that works with an existing wallet is a fast-and-loose version of “cracking,” and gives the attacker access to all the funds inside. But when someone in the LBC pool finds a working private key, do they get to keep the coins?

“In principle yes, although there is a process defined where—if someone appears with an alternate key—the pool members consider him the owner of the address,” “Rico,” the pseudonymous lead of LBC, told me in an email. He would only tell me that he’s a computer programmer “past his 40s,” who lives in Europe.

As for the legality of all this, LBC advises participants with a rather laissez-faire attitude.

“Depending on your jurisdiction, this may be considered theft and is therefore illegal,” the site’s FAQ states. “However, there are many jusrisdictions [sic] where you could perfectly legally claim 5-10% of the value found. So you should consider if you want 100% and become a criminal or if you get 10% and still be a law abiding citizen.”

The LBC has been working for just under a year. So far, Rico claims, the project has generated over 3,000 trillion private keys and checked them against existing bitcoin addresses to see if they work, and has found three that do and contain bitcoin. They’ve found over 30 private keys in total, some of which are for so-called “puzzle” addresses that are suspected to have been generated as easy bait for crackers.

“This project has been called many things: Impossible, illegal, pointless, cool, etc.”

Cracking wallets may seem malicious on the surface—and if an LBC participant knowingly steals funds, it might just be—but it also has research value. Bitcoin security researcher Ryan Castellucci has done work cracking wallets as a proof-of-concept in order to model attacker behaviour and defend against it.

“The thing that disappoints me about this is that they’re only checking addresses that have a balance instead of all addresses that have ever been used,” he said in an interview over the phone. “For research, it’s much more interesting to check all addresses that have ever been used, because that will show you if there’ve been weak addresses created in the past and if they’ve been cleaned out by attackers.”

But cracking wallets is just one part of the LBC’s mission. The other is to find a genuine cryptographic collision, which would mean it’s possible to generate inputs that, when put through the bitcoin address hashing algorithm, generate an identical pair. If it were ever to happen, bitcoin would have to use a new cryptographic algorithm for addresses. This would be similar to Google creating a collision with the once-popular SHA-1 cryptographic algorithm, which ended its usefulness for good.

Read More: I Broke Bitcoin

“Finding a P2PKH-collision [one cryptographic method of creating bitcoin addresses] would probably mean the end of P2PKH but not bitcoin,” Rico explained, regarding the ramifications of finding a collision. “Bitcoin would evolve with new address types. Most certainly it wouldn’t ‘die’ because of this.”

Castellucci also urged caution when it comes to getting all riled up about the LBC’s search for a cryptographic collision in bitcoin.

“To effectively find [a collision], you would have to find some way to generate [keys] much, much faster than is currently known to be possible,” he said. “Unless they find some sort of breakthrough in cracking techniques, the brute force strategy they’re using poses no threat to anybody’s bitcoin.”

“Someone could play the lottery three weeks in a row and win every time,” he explained. “That theoretically could happen, but it’s safe to assume it won’t.” Castellucci isn’t alone in this belief. Others, on the /r/bitcoin subreddit for example, have been much less kind and called the LBC “pointless.” But that hasn’t deterred Rico.

“Since it’s inception [around] 8 months ago, this project has been called many things: Impossible, illegal, pointless, cool, etc.,” Rico wrote.

“I think there is more waiting to be uncovered by the LBC—including a collision,” he continued. “So with that in mind we really do not care much about what ‘someone on Reddit’ said.”

Motherboard is nominated for three Webby Awards for Best Science YouTube Channel , Best Drama , Best Tech/Science Podcast . Please vote for us!

Source: The Large Bitcoin Collider Is Generating Trillions of Keys and Breaking Into Wallets – VICE

NYSE-Linked Bitcoin Exchange Bakkt Just Unveiled a Major Acquisition

Bakkt – the cryptocurrency startup launched by New York Stock Exchange (NYSE) owner Intercontinental Exchange – just yanked the lid off the full range of its blockchain ambitions.

The firm announced today that it has acquired Digital Asset Custody Company (DACC) as part of its efforts to gain regulatory approval for its crypto products.

Reportedly, Bakkt is less concerned with merely building a Bitcoin exchange than they are with offering institutional custody and payment platform services, all of which still requires regulatory approval.

Bakkt Acquires Crypto Custodian DACC

bakkt bitcoin futures

Bitcoin startup Bakkt acquired a crypto custodian to help bring its regulated platform to market. | Source: Shutterstock

The company recently announced its application for a BitLicense, and it is also pushing to become a trust company in New York. The company’s efforts have been repeatedly stalled by regulatory delays, despite positive news around its partnerships with Starbucks, Microsoft, and others.

Coinbase previously acquired a trust charter with the New York Department of Financial Services. Becoming a trust can be a faster process than becoming a BitLicense recipient, which can take several years. Bakkt says in a new blog post that it’s applied for a charter, and recently we reported that they’re also seeking a BitLicense.

Bakkt wants to offer Bitcoin futures contracts that pay out in cryptocurrency, which would set them apart from other Bitcoin futures offerings. Bakkt has several other ambitious projects in mind, but it must get through several layers of red tape before it finally launches.

Adam White wrote in Bakkt’s blog today:

“To provide regulated custody, we have filed with the New York Department of Financial Services for approval to become a trust company and in this capacity serve as a Qualified Custodian for digital assets. […] It is with that same commitment to setting a new standard for securely storing digital assets that we’re excited to announce that we have acquired Digital Asset Custody Company (DACC). DACC shares our security-first mindset and brings extensive experience offering secure, scalable custody solutions to institutional clients. The team’s experience integrating multiple blockchains and operating cutting-edge consensus mechanisms is a valuable addition to our team and future product line.”

Bakkt CEO Kelly Loeffler told Fortune:

“From the ground up what ICE has been building for two years is the safest version of a custody solution for digital assets.”

Custody: The Key to Mass Bitcoin Adoption?

bitcoin wallet crypto

A lack of regulated custodians has kept many crypto-curious institutions out of the burgeoning asset class. | Source: Shutterstock

Bakkt and Coinbase have both claimed that offering secure, modern custodial solutions for cryptocurrency will encourage institutional investors to expand their portfolios to include the speculative asset class. Thus far, Coinbase and Circle’s offerings have yet to make a significant dent in the overall market.

Fidelity, a traditional assets management company, also nears completion of its custodial solution. A range of options doesn’t necessarily equate to investor interest, but their availability may play a vital role during any future bull run. Institutional investors will, at a minimum, have several popular options to choose from if they consider getting into the market, opportunities that didn’t exist in previous times.

Bakkt’s current push is three-pronged:

  • They’ve acquired a company already engaged in playing custodian to digital assets.
  • They’ve applied for a BitLicense.
  • They’re working to become a registered trust.

There are other avenues they might still pursue, such as operating without New York as an available market at first. What is clear is that the company is anxious to get into the game, and the recent bull market activity is probably not far from their mind.

Source: NYSE-Linked Bitcoin Exchange Bakkt Just Unveiled a Major Acquisition

Crypto Dusting’ Attack Sends Illegally Obtained Bitcoin to Random Cryptocurrency Wallets

Crypto dusting attack, a hack on cryptocurrency wallets is used to distribute laundered money to the wallets of unsuspecting customers, which in turn, affects their reputation and draws the attention of law enforcement, reports DarkReading on January 8, 2019. According to DarkReading, crypto dusting is a new attack which distributes illegally obtained funds from an unknown source to the wallets of innocent cryptocurrency holders……

Source: ‘Crypto Dusting’ Attack Sends Illegally Obtained Bitcoin to Random Cryptocurrency Wallets

Debunked: Bitcoin Dev. Jimmy Song Exposes Fradulent ‘Satoshi’ Tweet – P. H. Madore

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There was some recent buzz from both sides of the Bitcoin Cash chain split regarding an allegedly authentic tweet from pseudonymous Bitcoin inventor Satoshi Nakamoto. The tweet, and indeed the entire account, is no longer available from Twitter proper.

“I do not want to be public, but, there is an issue with SegWit. If it is not fixed, there will be nothing and I would have failed. There is only one way that Bitcoin survives and it is important to me that it works. Important enough, that I may be known openly. He then provides a signature which, on the surface, appears legitimate.”

However, according to people much more educated on the subject, the signature was definitely falsified. Jimmy Song is a veteran blockchain developer who has previously worked on Armory Wallet and Paxos, as well as in the financial space as a partner at Blockchain Capital. He frequently blogs on Bitcoin subjects, and clearly could not resist the urge to deconstruct any dreams people had that Satoshi Nakamoto was back from the grave with an anti-SegWit message in hand. His post doesn’t gloss over the technicalities, which we will ignore here. However, he concludes that the signature was fake, and then reproduces the forgery in his own example.

“The Tweet is equivalent to someone that’s ‘proving’ that they ran a marathon in under 2 hours while allowing us to only observe them at the finish line. The nonsense signature is equivalent to someone ‘running’ a marathon in under 2 hours by starting close to the finish line.”

He notes that billionaire Calvin Ayre used the tweet from @satoshi as proof that the Bitcoin creator “lives” (a fact few besides those who believe he was either Hal Finney or Dave Kleiman dispute) and used it in the ongoing war with Bitcoin.com and Bitcoin Cash ABC.

More on the @Satoshi Handle

A bit of web history research reveals that the account @satoshi has existed almost as long as the social media platform itself, and it must have been only recently started tweeting about anything related to Bitcoin. As recently as 2013, when news of Bitcoin was spreading rapidly, and CCN was just getting started, there were less than 50 followers, and the account was private.

Twitter accounts have frequently been sold online, with prices ranging depending on popularity of the account, username, and follower account. There are sites dedicated to the practice. Satoshi is a Japanese name meaning “clear thinking, quick-witted, wise.” In 2007, Twitter was generally a plaything of the technorati, not taken overly seriously. Blogspot would have been considered a more viable platform to develop a following. The day of the microblog was many eons off in web history, really coinciding with the smartphone revolution.

We present the above unrelated facts to float a potential theory: whoever made the fake signature tweet claiming to be Satoshi Nakamoto this past week probably bought the Twitter handle. As to who that person is, well, it would seem Twitter is reviewing the account – perhaps the real Satoshi is welcome to claim it, but just as likely, the company has decided the account violated their wide-berth terms of use.

This is, of course, not the first time someone has come to the fore claiming to be Satoshi Nakamoto with an urgent message from Bitcoin past.


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Bitcoin Scammers Hack into Twitter Accounts of Target, The Body Shop (Among Others) – Jodie Lauren Smith

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Target and The Body Shop were targeted in a new wave of verified Twitter account hacks. This new attack follows a wave of similar attacks, including the attack where hackers masqueraded as Elon Musk by changing the name of other verified accounts they hacked into. Hackers used Elon Musk’s identity and credibility within the industry to encourage users ot part with their Bitcoin in exchange for more Bitcoin that never materialized.

In this latest attack, a crypto giveaway was the focus of the tweets, and a link was included so users could take part. More than a few high profile accounts were targeted including TargetToledo Rockets, The Body Shop, Universal Music Czech Republic, the Agriculture and Horticulture Development Board (AHDB).

It is not yet clear how hackers managed to hack the accounts, however since the English used within the tweets is substandard, it is assumed the hackers are not native English speakers. While this may seem like a hint to most people that the Twitter account is not genuine, often this is intentional. For example with Nigerian inheritance and love scams, the scammers often use poor English as a means of making sure they only receive responses from the most gullible people, which are usually the most vulnerable people to these types of scams.

The relative success of these scams goes to highlight the trust people put into the verified account ‘tick’ on Twitter profiles. For many people, as soon as they see the tick, they believe they are dealing with a legitimate person or company that they can trust. Hackers are exploiting this to target a wide array of people. The attacks also prey on people’s excitement over cryptocurrency and the desire to get involved in this new and exciting area of financial technology. Many people have been wanting to dip their toe in the cryptocurrency pool, but aren’t sure how to go about it. Big businesses that are accessible to the public also add an air of legitimacy for those people wanting to segway into crypto.

Twitter hasn’t released a formal response specifically around these attacks, although pressure is mounting for them to do so. Twitter needs to find a way to make these types of attacks impossible, otherwise, users will become more fearful and less trusting of the platform.

Hopefully, Twitter can find a solution before the next wave of attacks. This seems to be a method hackers wanting to scam people out of cryptocurrency keep returning to, suggesting that it is very profitable and worth the effort to hack the accounts.

 

 

 

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U.S. Trader Fined $1.1 Million and Sentenced to 15 Months for Commiting Bitcoin Fraud – Aisshwarya Tiwari

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According to a report by Bloomberg, published November 13, 2018, U.S. resident named Joseph Kim has been fined $1.1 million and sentenced to 15 months in prison for orchestrating fraudulent schemes related to bitcoin (BTC), and litecoin (LTC), thus duping his employer and several other customers of their money. In 2017, the U.S. Commodity Futures Trading Commission (CFTC) found out that Kim had transferred $601,000 worth of bitcoin and litecoin from his employer’s cryptocurrency exchange wallet to his wallet. The misappropriation of funds was done sometime between September and November 2017, when Kim used to work for a Chicago based trading firm…………

Read more: https://btcmanager.com/u-s-trader-bitcoin-fraud/

 

 

 

 

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