bitcoin

Mon
28
Nov
John Lister's picture

$3.36B in Bitcoin Hidden in Bathroom

The Department of Justice has found $3.36 billion of stolen money in a popcorn tin. But more than $2 billion of it no longer exists. It's not a case of corrupt law enforcement, but rather a spectacular example of the bizarre world of cryptocurrency. ... It raises head scratching questions about what money really is in 2022. The money was seized in a raid of the home of James Zhong. He's now admitted to stealing it in a hacking attack on the controversial online marketplace Silk Road. That's a site where goods and services, many of them illegal, were bought and sold using cryptocurrency. Bogus ... (view more)

Wed
27
Apr
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Crypto Guru Jailed Over North Korea Visit

An American man who helped North Korea evade US sanctions through cryptocurrencies has received a jail sentence of more than five years. Virgil Griffith had visited Pyongyang to tell officials how to use digital currencies. He pleaded guilty to ... breaching the International Emergency Economic Powers Act. The act allows the US president to limit the ways US citizens carry out commerce abroad by declaring an international emergency. One such limitation, introduced in 2008 and renewed annually, blocks US citizens from exporting technology, goods or services to the US. Griffith violated that ... (view more)

Wed
16
Feb
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Report: Most Ransomware Money Tied to Russia

Nearly three in every four dollars paid to ransomware scammers goes to Russian-affiliated groups according to new research. The authors also accuse Russia of turning a blind eye to large-scale money laundering. The figures come from Chainalysis, ... which tracks crime involving cryptocurrencies. These are "virtual" currencies such as Bitcoin where all transactions are tracked on a public "ledger". The way cryptocurrencies work means its relatively straightforward to track the amount of money a particular user has spent or received. However, it's often difficult to prove who a particular user is. ... (view more)

Wed
24
Mar
John Lister's picture

Computer Chips In Short Supply

A serious shortage of processor chips is affecting the supply chain of computers and other electronic devices. It's caused by a combination of supply and demand changes. The problem has caused not just price rises but a lack of availability. Devices ... as diverse as the latest iPhone model, the PS5 games console and high-tech cars have all been delayed or in short supply. The Guardian reports that the problem is partly down to a backlog caused by chip production factories shutting down for social distancing reasons in the early stages of the pandemic. However, even as that clears, demand is ... (view more)

Tue
16
Mar
John Lister's picture

India to Outlaw Bitcoin

The Indian government plans to outlaw cryptocurrencies such as Bitcoin. The measure is expected to become law, though it's unclear if it will be enforceable in practice. Politicians in the country have long been hostile to cryptocurrencies, which ... use blockchain technology. That's where all transactions are recorded on a digital "ledger" which exists as multiple copies across the Internet, removing any central control. India's government previously banned "real world" financial institutions from providing any services to cryptocurrency operators, for example in exchanging the virtual ... (view more)

Wed
23
Sep
John Lister's picture

Hospital Hacker Must Pay $1.5M, Jailed 5 Years

A man who was part of a hacking gang that stole medical records and tried to blackmail an accounting company has been sentenced to five years in prison. Nathan Wyatt was a member of a group calling themselves The Dark Overlord. British-born Wyatt ... had previously been extradited to the United States. He was charged with conspiracy against the US, threatening damage to a protected computer, and aggravated identify theft. Originally Wyatt pleaded not guilty. He later changed his plea to guilty on the conspiracy charge and received a five year prison sentence and ordered to pay $1,467,048 in ... (view more)

Wed
15
Apr
John Lister's picture

Webcam Bitcoin Blackmail Scam Returns

An email scam that aims to exploit embarrassment appears to be back in full effect. The scam involves the recipient getting a message falsely claiming somebody has hacked their computer through an adult website, then accessed their webcam and filmed ... the person enjoying said website. It goes on to claim the hacker has gathered a list of contacts from the user's email and Facebook accounts and threatens to send a copy of the embarrassing video to the person's friends and family. To stop this, the victim must pay the equivalent of $1,900 in the cryptocurrency Bitcoin. Email Allegedly Tracked The ... (view more)

Thu
06
Feb
John Lister's picture

Report: Malware Attacks Fall Year-on-Year

A computer security company claims malware attacks are on the decrease. The difference appears to be that criminals are more closely targeting attacks, which could be good news for the average user. The figures come from Sonicwall, which offers ... firewalls and other cyber security solutions. The data is based on the attacks and attempted attacks it detected among customers covering 1.1 million sites in 215 countries. (Source: sonicwall.com ) Although the actual numbers it gives aren't necessarily meaningful, the year-on-year comparisons between its new report covering 2019 and the one it did ... (view more)

Wed
29
Jan
John Lister's picture

Malware Botnet Mysteriously Hijacked

A malicious network of 500,000 computers used to spread malware around the globe has been taken over by do-gooders in an apparent hijack meant to foil cyber criminals. Victims of the botnet have not only found the stealth malware removed from their ... system, but are also receiving an on screen warning to update their computers. It appears the malware creators are themselves the victim of a hack attack by an online vigilante. Phorpiex Botnet a Decade Old, 500k Strong The malware concerned is distributed through the Phorpiex botnet, which has been operating for nearly 10 years. A botnet is a ... (view more)

Thu
27
Jun
John Lister's picture

Florida Gov't Ransomware Tops $1 Million Payout

Officials in Lake City, Florida have voted to pay half a million dollars to hackers to regain access to computer files. It's the second such payment by a local government in the state in as many weeks. Lake City's government computer system was hit ... by a ransomware attack in which hackers remotely encrypt files and then demand payment to unlock them. They asked for 42 units of the digital cryptocurrency Bitcoin, worth roughly $500,000. That payment method makes it much harder to trace the recipients. The good news in this case is that public safety networks are unaffected and that all ... (view more)

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