Bitcoin SV’s blockchain suffers block reorganisation

While Bitcoin SV or Bitcoin Satoshi Vision (BSV)’s staunchest supporter Craig Wright is busy with lawsuits against people who criticize him, the project is crumbling under the weight of its own expectations.

On April 18th , BitcoinSV blockchain has suffered a series of “block re-oganizations,” putting the integrity of its network in question.

According to BitMEX Research, the analysis wing of cryptocurrency exchange BitMEX, their “Bitcoin Cash SV [sic] node experienced two block re-organizations. First, a three-block re-organization, followed by a six-block re-organization.”

The company announced it on its Twitter account, raising questions about the series of block organizations that the blockchain is suffering from.

Block re-organizations occur when cryptocurrency miners are forced to “orphan” blocks after they’ve been mined. This can happen when the network is too slow to “propagate” blocks effectively, and bigger blocks (like the ones featured by BitcoinSV) are especially susceptible to orphaning.

Blockchain reorgs occur when miners are forced to orphan blocks after mining them. This usually happens when the size of a block is too large or when the network is too slow to propagate these new blocks. BSV has an especially large maximum block size of 128 MB, which was one of the major points of contentions of its fork. Note that a few months ago, Bitcoin Cash blockchain forked to create two parallel chains- Bitcoin Cash ABC and Bitcoin Satoshi Vision.

While BitMEX detected two block reorgs, the trouble runs deeper. The last time this occurred was in November 2018, when two blocks – one 16MB and another 13MB in size – were orphaned for being too large. At the time, BitMEX researchers also blamed bad network connectivity. This means that the chain has undergone three reorgs in just six months.

BitcoinSV is a fork of Bitcoin Cash (which is a fork of Bitcoin). It raised Bitcoin Cash‘s block size limit from 32MB to 128MB. Bitcoin‘s block size limit is still 1MB.

Bitcoin hacker steals money and passwords from Dark Web users, jailed

Blockchain and cryptocurrency related crimes are something heard about in a very scarce quantity. But this week, a 37 year-old man in the US has been sentenced to one year and one day in prison for fraud in connection with a Bitcoin $BTC▲2.4% phishing scheme designed to rob victims of their cryptocurrency.

Michael Richo was allegedly running an elaborate bitcoin phishing scheme, all with the purpose of stealing confidential information from unaware victims, including various sums of cryptocurrency which they held.

Richo, of New Haven, was also ordered to forfeit $352,000 in cash, various computers and electronic devices, such as digital and hardware-based wallets, which contained a vast array of different precious metals and virtual coins that he purchased with the proceeds of his offense.

It was during the trial that evidence, such as court documents from the trial in question, as well as supplementary statements, illustrate just where Richo was going in order to target individuals for his Phishing attacks – The Dark Web.

Per court documents associated with Richo’s case, he will be subject to three years of supervised release once he’s out of prison. His operation involved targeting individuals on the dark web using marketplaces.

He did so by posting fake links to online marketplaces on dark web forums. Once users clicked on them, these links would then direct users to fake login pages that resembled the real login pages for various dark web marketplaces. Once the victim entered his credentials, the hacker would steal them. He would then monitor the individual’s Bitcoin balance at the real marketplace and would withdraw the coins once the person deposited the funds. He would then either deposit the funds directly to his bitcoin wallet, or sell them on cryptocurrency exchanges for US dollars. The US dollars obtained as a result were deposited into bank accounts under his control or provided to him through Green Dot Cards, Western Union transfers, and MoneyGram transfers.

Electricity Wastage Leading to a Ban on Cryptocurrency Mining in China



In the wake of cryptocurrency mining being listed as one of the hazardous and wasteful activities by China’s central state planner, the National Development and Reform Commission, Chinese government has decided to ban cryptocurrency mining in the country. China, after remaining the hub of bitcoin mining has now plans drafted to terminate the activity.

The list generated by China’s central state planner included more than 450 activities  which failed to abide by the regulations  and are categorized unsafe for either they lead to a wastage of resources or pollutes the environment.  

Drawing inferences from an anonymous Chinese bitcoin trader, Reuters noted, “Bitcoin mining wastes a lot of electricity,”

Bitcoin, one of the most popular cryptocurrency hit a record high by the end of 2017 and touched $5,000 for the first time ever since November.  This week, it was down by 1.4 percent along with Ripple’s XRP and Ethereum, which fell down by the same margin.

Lately, cryptocurrency has been under inspection in China and eventually, it led to the banning of initial coin offerings and shutting down of local trading exchanges. With electricity being a crucial factor determining the ban, countries with inexpensive electricity have now emerged as the key hosts of cryptocurrency mining.




Don’t change your birth year to 2007 to Twitter or you’ll be locked out

There are tons of hoaxes constantly doing the rounds on Twitter, including the recent Bitcoin scam. Today, I want to warn you about one that’s taken over the platform over the past couple of days: the “birth year hoax“.

It’s as simple as it is stupid: it encourages you to head into your settings and change your birth year to 2007, in order to unlock a colourful feed or a ‘retro’ theme across the site. Instead, users who fall for the scam will be locked out of their accounts because Twitter prohibits anyone under the age of 13 from using the site.

So, as soon as you change your birth year, Twitter thinks that you’re only 12 years old, and blocks your account.

Twitter has automatically prevented users under 13 from using the social network since May last year and its terms of use state that the social network is "not directed to children."

You were promised a new timeline of colour options. You ended up getting blocked from the social networking site.

Earlier this week, rumours were circulating that changing your birthyear would give you access to Twitter's nostalgic old appearance.

Twitter has warned users to ignore a hoax suggesting an alternative colour scheme will appear in the app if they change their birth year to 2007. Users won't get a new colour scheme on the Twitter app if they change their birth year, the social network says.

If you, like many people, were lured into changing your birth year on Twitter to 2007 to unlock new colour schemes, you fell victim to one of the social media's latest hoaxes.

"Please don't do this," the company said via a tweet.

If you’ve unfortunately fallen prey to this scam and are locked out of your account, follow the instructions in the email the company has sent you to regain access.

Crypto-jacking: A New Vector of the Cyber-Cons after Ransomware!




Apparently, according to the records of 2018, after getting bored with ransomware attacks, crypto-jacking has become the new tool of cyber-cons for harvesting crypto-currency.



Crypto-jacking by nature is more insidious and stealthy and hence in the past year has emerged as a better way of harvesting crypto-currency.

Initially, the best choice for doing the same was ransomware, but having surpassed it, Crypto-jacking is now cyber-cons’ favorite option.

2018, unlike any other year in the cyber-crime history saw a lot of cyber-attacks, wherein the crypto-jacking attacks constituted to be amongst the most.

The report of IBM strictly mentioned that the crypto-currency attacks hiked by quite a large number.

Whereas, ransomware attacks plummeted by 45% including both mobile and desktop platforms.

The major reason behind this shift of inclination towards crypto-jacking happens to be the less-disruptive and furtive disposition.

After a ransomware is introduced to the victim, the attack weapon goes waste after just one attack, leaving no chances for a recurrence.

Meanwhile, in the case of crypto-jacking, a recurrence is almost ensured, making it possible for more profits from a single weapon.

Somehow, crypto-jacking appears to be the more malicious of the two, which if ignored could lead to serious ramifications.

Reportedly, crypto-jacking could soon transform from currency mining to fabrication its own botnets to function spyware attacks.

Leaving the users with the only advice and option; to use the latest versions of anti-viruses and keep the systems updated.


PayPal Credentials Stolen Through Phishing Attacks




Recently an in-developed ransomware has been found that attempts to take the user's PayPal credentials through a phishing attack notwithstanding encrypting files. The ransomware itself is 'unremarkable', yet the cleverest part is the ransom note as it offers a choice to the user to pay through PayPal just as the typical Bitcoin course.

Found by the MalwareHunterTeam, the trick offers criminals a one-two punch of advantages: Individuals who pay utilizing the internet's payment technique will be coordinated to a persuading looking phishing website which will endeavor to take the unfortunate user's PayPal credentials.

Be that as it may, in case of the PayPal phishing site choice when users tap on the "Buy Now" button, they are thusly directed to the Credit card part of the phish, in this way skirting the login.

What's more, when the victim submits their data, it is sent to http://ppyc-ve0rf.890m.com/s2 [.]php, where personal data of the individual, for example, their address is stolen. The phishing page at that point tells the user that their account unlocked and they are diverted to the PayPal login page and incited to sign in.

Since ransomware is growing to be progressively advanced and for this situation, it's much increasingly deadly joined with yet another attack vector i.e. phishing. Consequently it's not constantly conceivable to abstain from being hit by ransomware, yet in the event that one is, some basic steps can help diminish its effect.

Jake Moore, cyber security expert at ESET says this phishing attempt “inherently uses classic techniques that have been used for years and can usually be overcome by educating users” later adds,  “Targets will always need to be on guard when sent to a link and it’s vital they actively check the URL - especially when the phishing site looks very genuine.”

In this manner the most reasonable activity is not to give away one’s personal details except if one is certain beyond a shadow of a doubt that the site is genuine. Also abstaining from tapping on any link or download or open a document except if the user is certain that it is from a 'reliable source'.


Trezor Wallet: Not So Hack-Safe After All!









The hackers have found another way to penetrate the safety walls of the seemingly “quite safe” Trezor Wallet.


One of the inquisitive crypto-mining fans took to twitter, to shout out that the device which goes by the name of Trezor wallet has a vulnerability which lays bare  "un-password-protected" users.


This is not the first time such an attack has been possible on devices of the aforementioned kind and the researchers deem it as inevitable, given the poor fabrication of the devices.


At the Chaos Communication Congress, the theme was solidly elucidated and discussed upon, by specialists who talked about the hack-ability of crypt0-wallets.


The Congress spread across the different kinds of vulnerabilities, hardware, software and firmware could be affected by.


The gathered specialists expounded about recurring and systematic problems in wallets.


The team also worked upon creating a library of malicious attacks related with harvesting of funds from the hardware wallet.


The vulnerabilities these wallets possess, the ways to move around them and the available courses of action were discussed at the congress at length.


The team demonstrated how breaking the boot-loader protection and breaking web interfaces which are used to communicate with the wallets, is done.


Some physical attacks such as “Glitching”(an attempt at bypassing security of the micro-controllers of the wallet) were also a part of the CCC team’s drill.


The vulnerabilities uncovered by the team, have detailed implications which could only be solved via a firmware update or even a new hardware revision.


There is hope as to companies deliberating on the severity of the situation and that they will put forth some improvements.


With an extreme rise in the trend if hardware wallets, there has also been an extreme rise in the users, given these devices hoard a consequent number of crypto-currency.


There exist crypto-traders who work essentially and daily over and on these famous wallets.


Thousands and Millions of dollars’ worth crypto-currency is stored within the “walls” of these hardware wallets, rendering the reason behind all these attacks on them, apparent.


As to what the recently found attack did? It majorly concerned and focused upon breaking the interfaces that aid the communication with the wallet.

  
The Trezor wallet was attached to various devices which included a socket with an FPGA. Then supposedly a code was run to give the hackers access to the seed and pin.
But the hack would only go through if the wallet wasn’t password protected.


The engineer who is in charge of Trezor, Pavol Rusnak, took to twitter to let the public know that they weren’t previously privy to the situation.


But, now that they are, by the end of January a new firmware update will see its way through to the wallet.


He also cited that the issue is currently being investigated and that it soon is expected to be patched.


Moscow’s First Cable Car System Hacked a Day after Launch




Moscow's Mayor Sergei Sobyanin in an extravagant ceremony propelled Moscow's first cable car service promising free rides for the first month. In any case, tragically, just 2 days after the service was made accessible, hackers apparently hacked into the cable car system and tainted them with ransomware.

As per the local news outlets, who previously reported the incident and Moscow's Mayor, the main computer for the cable car system was tainted with ransomware and was requesting a payoff installment in bitcoins to unscramble the documents required for the operation of the cable car.

"According to the agency interlocutor, a message was received from an unknown person on the head computer of the Moscow Cable Cars operating company requesting to transfer bitcoins to him in exchange for decrypting all the electronic files of the computer that is responsible for the cable car operation. The amount of the ransom, said in the letter, depends "on the speed of response to the letter." As a result, there was a failure in the cable car."

The attack or rather the infection happened on Wednesday, November 28, at around 14:00, local time.

The attack was severe to the point that it had its effect on even the servers of the Moscow Ropeway (MKD), which apparently halted the majority of its task when it was informed about it.

The office's servers were exposed to a security review on November 29, and the infection was fortunately removed. Cable Car transports continued on the 30th, as per a message posted on the MKD's official website.

As of yet there are no points of interest thought about the kind of ransom ware that tainted the MKD's servers, or even the amount of the Bitcoin ransom demanded.


Malware that hijacks clipboard monitoring over 2.3 million bitcoin addresses


Bleeping Computer today revealed that they discovered a type of “clipboard hijacker” malware that monitors over 2.3 million bitcoin addresses.

A clipboard hijacker malware works by tricking users by switching the bitcoin address from their clipboard to another address that the attacker control. Since bitcoin addresses are long and hard to remember, this method works easily for hackers since users simply copy paste addresses from one application to another when sending cryptocoins.

The malware reportedly comes as a part of the All-Radio 4.27 Portable malware affecting Windows computers and monitors the Windows clipboard for a bitcoin address. Unless the user double-checks the address after pasting it, the bitcoin will go to the attackers’ address.

“While we have covered cryptocurrency clipboard hijackers in the past and they are not new, most of the previous samples monitored for 400-600 thousand cryptocurrency addresses,” their report on the malware read. They also posted a video showing how the malware works: 


Bitcoin users are advised to always double-check the address before making a transaction and to have a trusted antivirus program installed on their device.


Japan Cryptocurrency Exchange Coincheck starts refunds for $530m hack

The cryptocurrency exchange that fell to a hack of about $534 million in January this year has now started reimbursing the affected customers that lost fund in the hack.

In its blog post, Coincheck said that it will refund users as per its original compensation plan at the rate of 88.549JPY ($0.83) per NEM stolen and that to qualify for reparations, users must have held that amount of NEM on their platform at 23:59:59 JST on 26 January, 2018.

The total amount reimbursed will equal to about $420 million.

After the hack, Coincheck had imposed restrictions on trading and withdrawal of some cryptocurrencies on the exchange. The company is now going to lift some of these restrictions to allow for withdrawals and sales, according to another blog post.

It also said that it is working on evaluating the risks associated with each currency and will “confirm the technical security of our systems regarding these currencies in order to resume normal operations.”

The exchange also plans to resume deposits and purchases of all currencies, and open for new registrations once security and management systems have been updated.

“Once again, we would like to apologize for the inconveniences that the illicit transfer of NEM from out platform and the resulting suspension in services has caused our customers and anyone else affected by this incident. Thank you for your patience,” the company said in its blog post.

Hacker Infiltrates the Company's IT Network; Businesses affected suffered an estimated $1.5 Million damages.






A 37-year-old man from Edmonton is facing fraud and extortion charges against him after a local business network was allegedly hacked by him.

The police said in a release that they had received a report over the alleged hacking of their IT infrastructure in July 2017. And believe that the suspect infiltrated the company’s IT Network and quite successfully took control over their email and smartphone servers and demanded payment in bitcoins in order to keep any further harm to the business.

 The EPS Cyber Crime Investigations Unit investigated the case further and managed to identify the alleged suspect successfully.

 The police postulate that the same man is responsible for hacking the networks of no less than four other Edmonton-based companies.

 “Once the networks were accessed, the suspect targeted financial data, including online store accounts and email accounts, from the companies as well as the employees.” Says, Const. Phil Hawkins.

Including moreover, he clarified that the type of intrusion that occurred in this case, which resulted in a momentous loss to the business, including the time and resources has affected the business in such a way that it suffered an estimated $1.5 million in combined damages.


The 37-year-old Jeffrey Johnston, therefore, is charged with 18 criminal offences including, three counts each dealing with mischief in relation to computer data, two each of fraudulently obtaining computer service, along with mischief related to data and unauthorized use of computer services and not to mention single counts of theft over $5,000.

Leaked US Army Cyber Protection Brigade Memorandum appears to show Privacy Solutions compromised




The picture being referred to is a leaked picture of a memorandum on image board 4chan, complete with Department of Defence letterhead, seeming, by all accounts, to be from the United States Army’s Cyber Protection Brigade.

The posted picture displays an official document brought up on a terminal screen, on one side of which is a Common Access Card or CAC, complete with picture, conventional of a Department of Defence employee. It seems, by all accounts, to be a legitimate one, however it reeks of incredulity and skepticism. Be that as it may, it's as yet not clear with respect to why somebody would want this data leaked.

However another sensible theory can be that, there might be some sort of involvement of the cryptocommunity. Nevertheless an extraordinary method to constrain utilization of privacy solutions is to convey into the environment rumours about their being anything but, a sort of scheming way of spreading trepidation, uncertainty and doubt.

 “The success we have had with Tor, I2P, and VPN, cannot be replicated with those currencies that do not rely on nodes. There is a growing trend in the employment of Stealth addresses and ring signatures that will require additional R&D.” reads the document.

the memo's first line uncovers a unit required with the National Security Administration (NSA) and Cyber Protection Team (CPT) encouraging all the more financing for "new contracts and extra subsidizing to meet GWOT and drug interdiction targets aimed in July's Command update brief," Global War On Terror (GWOT) being a go-to pretext for about two decades of obtrusive military and law enforcement action.

“In order to put the CPT back on track, we need to identify and employ additional personnel who are familiar with the Crypto Note code available for use in anonymous currencies,” the memo stressed.
Crypto Note which is likewise the application layer for privacy tokens, for example, Bytecoin (BCN), Monero (XMR), utilizes a memory bound function which is hard to pipeline, that the pertinent agencies entrusted with monitoring and tracking internet solutions, and now coins, needs outside help with Crypto Note may say a lot about where the different government divisions are in terms of their security keenness.

The picture was distributed among Steemit, Veekly, and even Warosu exactly five months back, yet outlets, for example, Deep Dot Web may claim to have broken news. The document but is as yet worth dissecting, assuming its legitimacy.


As far as concerns its, Deep Dot Web claims to have contacted "a Monero developer, who spoke on state of obscurity," and the dev "said that the vast majority of the Monero engineers who have seen the leak trust it to be true. A few sources who were some time ago in the Armed force have additionally said they trust the report to be genuine." Offering ascend to the way that the contents of the document do give off an impression of being totally conceivable.

Japan cryptocurrency exchange to refund stolen assets worth $400m

Coincheck, one of Japan’s major cryptocurrency exchange, has promised to refund to its customers about $423m (£282m) stolen by hackers two days ago in one of the biggest thefts of digital funds.

The hack occurred on Friday, when the company detected an “unauthorised access” of the exchange and suspended trading for all cryptocurrencies apart from bitcoin.

The attackers were able to access the company’s NEM coins, which are a lesser known but still the world’s 10th biggest cryptocurrency by market capitalisation. The losses went up to about $534m (£380m).

The company has stated that it will reimburse the affected customers to nearly 90% of their loss using cash.

Over 260,000 are reported to have been affected by the hack.

According to Coincheck, the hackers were able to steal the NEM coins because they were kept in online “hot wallets” instead of the more secure and offline “cold wallets.”

The company claims that it is aware of the digital address where the coins have been transferred and believes the assets are recoverable.

Unknown Hackers demand Ransom in Bitcoin

Recently the news came out of a ransomware attack in Old Delhi after three of the hacked victims came forward to uncover more about the attack. The victims i.e. the traders were demanded ransom in Bitcoin from the unknown hackers.

Although it is believed that the hackers are supposedly from either Nigeria or Pakistan, they were responsible for encrypting files on the computers of the businessmen which comprised of key records. The hackers at that point, as indicated by the police coerced the victims, gave them the links to purchase bitcoins through which they needed to make payments for the release of critical documents.

 “Some traders paid in Bitcoins and got their data back. Some deposited the money from abroad. When my data was hacked, I spoke to fellow traders and learnt that there were other such cases. I wrote to the hackers and they agreed to decrypt the files for $1,750 (around Rs 1.11 lakh),” Mohan Goyal, one of the victims was quoted saying in the report.

According to reports, the hacked traders found the message that said there was a 'security issue' in the system displayed on their computers. The traders were then given case numbers and email addresses for correspondence. They were then at first offered decryption of five of their documents and files for free by the hackers, who later demanded the payment of ransom for the rest of the records.

While one of the IP address utilized by hackers was purportedly traced back to a system in Germany, but the fingers remain pointed towards hackers from Nigeria and Pakistan.

Experts say that for making it difficult to trace the money, getting the money in bitcoin works for the hackers. The Delhi crime branch which registered the FIR has already sent the hard disks of the complainants for further forensic tests. As of not long ago, three complaints already have been registered by the police and it is believed that the number of victims could be much higher.

Ripple passes Ethereum to become World’s Second-Largest Cryptocurrency

Ripple has overtaken Ethereum as world’s second-largest cryptocurrency. Its XRP token climbed more than 50% on Saturday.

In just 24 hours, Ripple rose to as much as $2.20.

Ripple has had one of the biggest growth amongst digital tokens this year, going from less than a cent ($0.006523) in January, to $2.24 on Saturday, which represents a surge of almost 350 times in value.

This could be because of the increase in interest by speculators, as is the case of most cryptocurrencies, but various experts claim that Ripple is worth looking into.

The advantage of ripple, according to its backers, is that it is not just a cryptocurrency but is also used as a digital protocol that acts as a bridge to other currencies and doesn’t discriminate against peers, whether they are using digital money, fiat currencies, or even mobile minutes.

Unlike bitcoin and other cryptocurrencies, Ripple follows a centralised system and its owners are known.

The descend of SEBI on illicit coin offers

Everyone's eyes are presently on SEBI which has descended vigorously on unlawful 'initial coin offers' seeking for public or open ventures with a guarantee of significant yields from Bitcoins and other virtual monetary forms ,without any regulatory regime. Be that as it may, Sebi also isn't quick to take on the mantle of an administrative for such 'trading', as the underlying product, which is Bitcoin or any other such cryptographic currency, that isn't an approved product by RBI or some other agency.

In the meantime, it also cannot allow naïve financial specialists to be taken for a ride with unlawful guarantees by these trades and those asserting to be 'mint' digital forms of money. As of now a number of them are suspected to be indulging in false exercises.

These days a great deal of 'coin offerings' being made in India are nothing but fake shell games or fraudulent business models, which together sooner or later give auxiliary purchasing and offering in bitcoins or the other distinctively established digital currencies.

As of late the RBI had made open its dissatisfaction for every such currencies, having said that it has not affirmed any of them, at the same time the tax authorities have consistently been leading inquiries at different trades and have believed to have gathered data on huge measures of sections also including those of HNI's who could have traded there.

The regulators and the government agencies are too in a condition of problem as forcing an assessment would add up to giving a lawful status to such monetary forms, for which any agreement remains subtle given the colossal dangers, including money laundering and terrorist financing , attached with such exercises.

However, what has left the regulators flummoxed is a gravity-defying bitcoin rally to over Rs 10 lakhs for each unit, sprinkled with 'stories' of individuals making crores from thousands.

The RBI has, then again, kept issuing notices since 2013, from the time when the surge in bitcoins caught the attention of Indians. Yet the dangers have multiplied many now, in the wake of a huge spurt in the valuation of numerous such virtual currencies with a rapid development in the Initial Coin Offerings (ICOs).

Although a few entities have started falling back on ICOs to raise funds from investors, including HNI's and other individuals, who are getting lured into assertions of huge returns from bitcoins and other such variations, clearly getting fabricated in the digital world yet in addition reaching out to this present reality.


Larceny of $70 million from the largest crypto-mining marketplace

The notice announcing "service unavailable" as well as an official press release was displayed on the website of the Slovenian digital currency mining firm NiceHash, which it said endured a hack of its Bitcoin wallet on the seventh of December.

 In a video update that streamed live on Facebook, the CEO and co-founder Marko Kobal provided an update to a rather startling declaration that the organization, established in 2014, had been subjected to a hack and ensuing theft which additionally compromised its payment system also.

 The news was accompanied by the increasing reports of vacant wallets as well as an additionally expanded downtime period for the service's website; every one of the operations for the website in question has been halted for the following 24 hours.

As per Kobal, the attack began in the early hours of December 6 after a worker's PC had been compromised , he further added that their team is working with law enforcement and clarified that " we're still conducting a forensic analysis” to determine how it all happened and to discover the exact amount of bitcoin that was stolen.

Kobal went ahead to state that he couldn't give extra points of interest, however, he added that the attack seems, by all accounts, to be “an incredibly coordinated and highly sophisticated one.”

However the Wall Street Journal reported that, Andrej P. Škraba, the head of the marketing at NiceHash, affirmed to the outlet that roughly 4,700 bitcoins, worth up to $70 million disappeared from NiceHash's bitcoin wallet, Škraba also told the Journal that he too like Kobal trusted that "it was a professional attack", but would not give any more information on the matter, taking note of that the further improvements would be released at a later date.

NiceHash, which exhorted its clients to change their online passwords after it stopped operations on Wednesday, has given a couple of other insights about the attack on its payment system also.

"We ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service", it said on its website.

The Slovenian police said that were investigating the hack, but however, declined to further comment.

Suspected Criminal Mastermind detained for laundering money through Bitcoin



In Greece, Russian citizen Alexander Vinnik was detained. It is assumed that 38 year-old-man since 2011 is used Crypto Currency to launder more than 4 billion dollars.

Greek police said that Russian man is a head of a criminal group. It is alleged that Vinnik is one of the owners of the BTC-e.  BTC-e is one of the largest crypto currency exchanges in the world, based in Bulgaria, and its server is located in the Seychelles - It is also said that this is criminals favorite platform.

"He is also charged with identity theft, promotion of drug trafficking, and assistance in laundering proceeds from criminal activities for syndicates from around the world." the local report quotes the head of the crime investigation department at the US Internal Revenue Service.

U.S. authorities are sure that some part of money is money obtained as a result of a cyber attack on the Japanese digital currency exchange Mt.Gox, which is now closed.

Vinnik was detained in Greece on 25 July at the request of the American authorities. On set of charges to he faces up to 25 years in prison.

- Christina



Hacker surrenders, after Roger Ver puts $20,000 bounty on the Hacker


Be Careful who you are messing with, An attacker realized he picked a wrong victim when the victim decided to spend $20,000 to find him.

Roger Ver, the man known as "Bitcoin Jesus, who is the Angel investor in lots of Bitcoin startups, announced a 37.6BTC reward(about $20k) for information that leads to the arrest of the hacker who hijacked his Hotmail account and threatened to ruin his life.

It all started when the hacker managed to hijack an old Hotmail account of Roger by answering the security questions.

According to reddit, the attacker used the hotmail account to gain access to Roger's old facebook account and one of his domain accounts at register.com.  The attacker also attempts to hack his primary email account and domain name. 

The attacker using the screen name 'savaged' contacted Roger via Skype and demanded "37.63289114 BTC"

"I think we both know this won't be pleasent and let's be honest there is nothing you can do to have me caught, I've been around too long" The attacker said.

"Let's be honest I will sell [SSN REDACTED] + your information to fraudsters that will credit f*** you then get your moms social and credit f*** her too and ruin both your lives"

The hacker also claimed he is the one who hacked @UberFacts twitter account which has 6.7 M followers.

A Bounty on the Hacker:
But, Roger decided to follow a technique used in the movie called 'Ransom': Rather than giving the money to criminals, he posted he was putting a bounty on the hacker instead.



When the attacker learned of the bounty on his head, he got scared and deleted Roger's hotmail and gave the password for all other accounts and ran away.

"I just need to raise funds for my mother, but since you aren't going to help, all your passwords are: Nigger55" The person on the end of skype said.

"Goodbye, Sir, I am sincerely sorry I am just a middleman I was being told what to tell you."

Roger said in his tweets the things are back to control and not a single Bitcoin was stolen. 

Reserve Bank of India warns public against use of Virtual Currency Bitcoin


The Reserve Bank of India(RBI) has issued a warning against the use of Virtual currencies such as controversial Bitcoin saying that they poses a potential financial, legal and security related risks.

RBI warned in its press release that creating, trading or using any of virtual currencies including Bitcoin, Litecoins, bbqcoins, dogecoins are not authorized by any central bank or monetary authority.

RBI said since the virtual currencies are stored in digital form(electronic wallets), they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack.

The warning comes few days after Chinese government banned the use of Bitcoin in their countries Banks, pointing out the risks of using Virtual Currency.

Earlier this month, the French Central Bank also issued a warning about the Bitcoin transaction.