Tag Archives: Security & Ransomware

Law enforcement has taken three men into custody over what sources are calling the biggest crypto scam in history.The “Biggest” Scam Is in the BooksMatthew Brent Goettsche and Jobadiah Sinclair Weeks from Colorado along with Frank Abel from California have been arrested for initiating a cryptocurrency scam through a fake company called Bit Club Network that may have cheated investors out of $722 million in crypto funds. If the numbers are accurate, Bit Club outdoes the money stolen or lost in...

Last week, Live Bitcoin News reported on a story involving a cryptocurrency exchange known as Dunamis Coins Resources Limited, based in Uganda. The exchange was under fire from users who say they were duped into providing money to the business as part of a shady job application process.Case of Uganda Exchange Grows LargerThe exchange was requiring all those interested in seeking consideration for its crypto and blockchain-based jobs to donate $5. The trouble was that about a month later, the...

Several Chinese nationals have been arrested in Thailand and are under suspicion of being involved in an international cryptocurrency scam.Cryptocurrency Attracts More Crime in ThailandRoughly 24 people are now in police custody. All were allegedly part of an organization that targeted investors in China through a cold-calling scheme that persuaded them to purchase “bitcoin at inflated rates,” according to law enforcement officials. All were arrested in a rented office known as “Galaxy Place”...

Recently, Live Bitcoin News published a story regarding Virgil Griffith, a man who last April, traveled to North Korea despite U.S. regulatory scrutiny to deliver a blockchain seminar.Griffith Has a Few DefendersDuring the lecture, it is believed that Griffith may have provided cryptocurrency knowledge to listeners regarding how they could potentially utilize both cryptocurrency and blockchain technology to override U.S. sanctions. This didn’t sit well with the American government, and...

Another cryptocurrency exchange has been the subject of a potential theft. This time around, the victim is IDAX, and its CEO is accused of stealing the private keys that allows access to customer funds.IDAX: The Latest Victim of Crypto ThieveryIf this doesn’t sound familiar, it should. The situation is basically a play on what happened earlier this year with Quadriga CX, the notorious cryptocurrency exchange in Canada that’s been responsible for the loss of roughly $200 million crypto funds....

Researchers at the hacking group Bad Packets are doing a widespread scan of the internet to see which pages, sites and channels are potentially using the sandbox software Docker as a means of mining cryptocurrency.Bad Packets: Good SolutionsMalicious actors are running rampant in the cryptocurrency world. We’ve seen this recently through the hack of popular South Korean crypto exchange Up Bit, which was robbed of nearly $50 million in ether funds just last Wednesday. It wasn’t a pretty sight,...

A privacy-based technology known as Mimble Wimble has been integrated into various privacy tokens since last January. The trouble is, it may not be as private as people originally thought.Mimble Wimble Isn’t Doing Enough to Keep Your Identity a SecretA new study shows that the first privacy coins to implement the technology are ones referred to as Grin and Beam, both of which are very new and are hardly being used at all at press time. This could be why the technology is so easily...

SIM-swapping cases appear to be a recurring incident in the cryptocurrency world, but the latest case involves two individuals displaying aggression that has yet to be seen in situations like this.SIM-Swapping: Is It Becoming More Common?The two people accused of the SIM-swapping are 21-year-old Eric Meiggs and 20-year-old Declan Harrington, who reportedly went after two very high-ranking social media executives. When they were caught, they allegedly spewed out threats to the victims’ family...

Digital wallet provider Ever Coin is offering the Ever Coin 2, a new mobile hardware wallet designed to give people more security when storing their crypto funds.Ever Coin Offering a New Way to Secure Your MoneyKeeping digital money in a hardware wallet is a lot safer than storing it in a standard exchange, which for the most part, remains vulnerable to hackers and other malicious actors. Many times, these hardware wallets require the knowledge of private keys in order to gain access to the...

The following is proof that work hours should be devoted to work. Andrei Rybkin, a former Russian nuclear scientist, has been sentenced to three years in prison for mining bitcoin utilizing a plant’s computing power.Rybkin: Heading to JailAside from serving time behind bars, Rybkin will have to pay a fee of more than $3,000 (about 200,000 rubles) to court authorities. Sentenced on Thursday, Rybkin is one of three people that were potentially involved in an illegal mining network that...