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Baltic Honeybadger 2017 • November 25-26, 2017

The Baltic Honeybadger conference is the first major event in Latvia dedicated to Bitcoin and the technologies built around it.…

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Tag: fraud

SEC Cracks Down On Yet Another Faulty ICO

Category: Commentary, Finance, News

SEC Cracks Down On Yet Another Faulty ICO

Two companies, a real-estate and diamond ICO, run by businessman Maksim Zaslavskiy blew up in smoke as SEC exposed fraudulent claims and unregistered Securities. But, why does this keep happening? REcoin and DRC World Zaslavskiy provided investors with the world’s “First Ever Cryptocurrency Backed by Real Estate” in which he allegedly reinvested investor’s contributions into different properties. The SEC reported…

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Startups are Using Ethereum’s Blockchain to Combat Ticket Touting and Fraud

Category: Business, Ethereum, News

Startups are Using Ethereum’s Blockchain to Combat Ticket Touting and Fraud

To combat increasing ticket touting, fraud, and counterfeiting, startups are utilizing leading blockchain networks including Bitcoin and Ethereum to create immutable and unalterable platforms to process the sale and distribution of tickets. The greatest advantages of cryptocurrencies and decentralized blockchain networks are their distributed nature and immutability. Since blockchain networks are operated by nodes and consensus protocols within a distributed…

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GAW Miner’s Joshua Garza Faces Up To 20 Years in Prison After Guilty Plea

Category: Bitcoin, News, Regulation

GAW Miner’s Joshua Garza Faces Up To 20 Years in Prison After Guilty Plea

Joshua Homero Garza, the man behind the Ponzi schemes which were disguised as cloud mining operators, GAW Miners and ZenMiner, pleaded guilty to one count of wire fraud in a Connecticut court on July 20. The announcement was made by the United States Attorney for the District of Connecticut, Deirdre M. Daly, and Patricia M. Ferrick, Special Agent in Charge…

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Ponzi Schemes GAW Miners and ZenMiner Fined $10 Million Each

Category: Bitcoin, News, Regulation

Ponzi Schemes GAW Miners and ZenMiner Fined $10 Million Each

Connecticut-based companies, GAW Miners and ZenMiner, have been ordered by the U.S. District Court for the District of Connecticut to pay $10 million each as fines for their fraudulent activities. The two companies were fronted by Homero Joshua Garza but ceased their operations when accusations leveled against them reached a crescendo. Both GAW Miners and ZenMiner operated as bitcoin cloud…

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7 Bitcoin Scams You Need To Be Aware Of

Category: Bitcoin, Commentary, Finance, News

7 Bitcoin Scams You Need To Be Aware Of

As the price of bitcoin has increased substantially over the last few years, so has the number of malicious individuals and organizations looking to take advantage of others in the Bitcoin community. Bitcoin scams are not a new occurrence as they have been around since the currency first gained some popularity. Today, however, there is a broad range of bitcoin…

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Iowa University Explores Effectiveness of Blockchain in Detecting Online Fraud

Category: Business, News, Tech

Iowa University Explores Effectiveness of Blockchain in Detecting Online Fraud

The University of Iowa, an educational institution with a considerable reputation for its engineering and technology research departments, recently released a paper on detecting fraud for online businesses using blockchain technology. Researchers at the university looked into the effectiveness of blockchain technology in detecting objective fraud and ultimately, its applicability in the online fraud security market. Blockchain technology, can be…

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Defrauded HashOcean Cloud-mining Investors Seek Reparation

Category: Business, News, Tech

Defrauded HashOcean Cloud-mining Investors Seek Reparation

Cloud-mining site Hashocean.com mysteriously vanished some time after 6:00 pm on June 25th 2016. This has come as a major financial blow to the estimated 700,000 users of the site. In an interview with BTCMANAGER, HashOcean user Chris Butler of Las Vegas, Nevada said that he normally receives a daily email report from HashOcean containing his “Daily Profit Calculation” for participating…

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Hope for Cryptsy? Hacker Pledges to Regain Stolen Funds

Category: Business, News

Hope for Cryptsy? Hacker Pledges to Regain Stolen Funds

Cryptsy, the embattled bitcoin exchange from which over 13,000 BTC were stolen, appears to have partnered with an anonymous hacker known only as Cryptcracker to regain their funds, according to a signed contract posted on their blog. Cryptsy was founded in 2013 and went on to service over 270,000 customers, according to their website. In 2015, the platform started showing…

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London Bitcoin Forum Scams Attendees, Sponsors and Hosts

Category: News

London Bitcoin Forum Scams Attendees, Sponsors and Hosts

Conferences are money makers in just about any trade organization. Occasionally, however, they can nothing but great deal of smoke and mirrors, duping both participants and sponsors. In what has been revealed to be a scam, the London Bitcoin Forum seems to have swindled a fair number of people in what was originally billed as “Bringing together 900 attendees, more than…

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Cyber Threat Alliance: CryptoWall Earns US$325 Million from 400,000 Successful Infections

Category: Business, News, Tech

Cyber Threat Alliance: CryptoWall Earns US$325 Million from 400,000 Successful Infections

The world’s most popular anti-virus service providers, Symantec Corp, Intel Security, Palo Alto Networks and Fortinet, have formed a cyber-security group named Cyber Threat Alliance (CTA) to explore the evolution and impact of aggressive CryptoWall ransomware. The first published report of the CTA entitled “Lucrative Ransomware Attacks: Analysis of the CryptoWall Version 3 Threat” provides financial institutions and tech organizations…

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