Tag: BTC

Players of the widely popular game League of Legends (LoL) in the Philippines faced a predicament after a significant cryptocurrency mining malware came to light on July 11, 2018. Garena+ Client Causes Havoc Daily eSports detailed the latest instance of the widespread mining attack, a first-of-its-kind. LoL players in the Philippines discovered a particular Garena client containing a malicious cryptocurrency…

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According to a study by cryptocurrency security firm CipherTrace of online heists, a record number of cryptocurrency tokens were stolen from cryptocurrency exchanges in the first half of 2018 alone. Cryptocurrency Heists on the Rise in 2018 CipherTrace reported that in the first half of 2018, there was more than three times the number of cryptocurrencies stolen and used in money…

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The Italy-based exchange BitGrail has halted all trading activities and defaulted the site as being “under maintenance” after it’s core team confirmed Italian law enforcement had seized all bitcoin in the companies accounts. This comes months after approximately $170 million worth of the cryptocurrency NANO was hacked and stolen from the exchange. The BitGrail Story Finally Coming to a Close…

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FCoin, a China-based cryptocurrency exchange which vowed to compete against Binance, the world’s biggest crypto exchange in volume, has single handedly clogged up the entire Ethereum network throughout the past week. Unnecessary Large Airdrops On July 2, the transaction fee of the Ethereum network reached 5862 ether, well surpassing its all-time high on January 10, when the total gas cost…

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After several reports and criticism of Bitcoin mining using electricity equivalent to all of Iceland’s households, the sector looks primed to create economic development and industry in the region. Bitcoin Miners Parlay a New Industry On July 4, 2018, Bloomberg reported Iceland is embracing Bitcoin mining farms and computing setups, contrary to previous resistance towards the industry. Iceland does not…

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With the endless cases of hacks and all forms of wrongdoing in the South Korean crypto space, it appears authorities are now ready to put a permanent end to the activities of bad actors within its digital currency industry. After imposing stringent Anti-Money Laundering (AML) and Know-your-Customer (KYC) laws, regulators are now ready to fight infringements of investors’ data privacy…

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European law authorities in Spain and Austria have reportedly seized several cryptocurrency tokens, including Bitcoin, IOTA and Lumen. The coins were discovered after officials raided a drug organization and arrested members of an organized crime group. The operation was carried out by a team of officials including officers from Spanish Garda Civil, Europol and the EU Law Enforcement Agency. Bitcoin…

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The world’s largest cryptocurrency exchange by trading volume, Binance, faced an embarrassing situation on July 3, 2018, as attackers took advantage of an API hack to sell a single Syscoin (SYS) for 96 bitcoins (BTC). Binance API Attacked Over a billion SYS were moved from a wallet, rumoured to be owned by Binance, after enterprising attackers took advantage of the…

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Even though bitcoin is going through a bear phase along with the rest of the cryptocurrency market, their ATMs are increasing in number. According to Statista, the number of bitcoin ATMs has grown from a mere 500 in January 2016 to over 2500 in April 2018. The majority of these ATMs have been set up in places where the average…

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Massive flooding in some parts of China has damaged several bitcoin mining farms, leaving Chinese miners with heavy losses, and resulting in a fall in the Bitcoin hash rate. Flooding and Mountain Collapse According to local reports, severe storms hit many areas including Sichuan Mianyang, Guangyuan, Chengdu, Aba and Meishan, causing flooding and land movements. The flooding resulted in the…

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