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The Bayesian Method For Deanonymising A Large Percentage of Bitcoin Transactions

Although bitcoin is famous for its anonymity level, it is agreed that it is not completely anonymous as there are multiple ways for tracking the sender of bitcoin transactions in most cases. We will discuss the Bayesian method for identification of bitcoin addresses throughout this article. The Bayesian method for identification of bitcoin addresses can be broken down into 3 ... Read More »

Seven Arrested In German Vendor Bust

Two men from Duisburg (aged 20 and 28), Germany and five suspects (aged 22 to 30) from Goslar, Hameln, Vreden, Esslohe, and Saarbrücken, were arrested in suspicion of running a vendor shop on the dark web. According to documents at the König-Heinrich-Platz Court, the seven suspects were running a vendor shop on the dark net selling narcotics, including marijuana, cocaine, ... Read More »

Judge Closed the Case Against a Friend of Shiny Flakes, Fined Him 1350 Euros

In 2015, the German Federal Police arrested a notorious vendor—both darknet and clearnet. The vendor, Maximilian S., operated under the name “Shiny Flakes.” After a long and surprising trial period, the Leipzig District Court sentenced the 20-year-old to seven years in prison. German police raided 38 homes following the Shiny Flakes bust and seized massive amounts of illegal substances. A ... Read More »

Another Suspect Claimed Someone Else Used His Address to Buy from the Darknet

We recently wrote about the 45-year-old Kyle Nathan Smith who pleaded not guilty to several drug importation charges. Customs intercepted packages of MDMA with his address on the packages. Then local law enforcement found drugs in similar packaging in the man’s home. However, claiming that someone else used his computer to buy drugs worked; the judge found him not guilty. ... Read More »

Bulgarian Captured in Avalanche Sting Pleaded Not Guilty to the Whole Indictment

Krasimir Nikolov, a 44-year-old from Bulgaria, is one of the individuals arrested in the international Avalanche bust in December. The U.S. Attorney’s Office for the Western District of Pennsylvania filed an indictment that charged Nikolov with unauthorized access to a computer to obtain financial information, four counts of bank fraud, and conspiracy. On December 22, Nikolov pleaded not guilty to ... Read More »

ISIS Supporters Used Orbot and Telegram to Communicate with ISIS Handlers

In June, the National Investigation Agency in Hyderabad arrested eight individuals for conspiracy to commit terror attacks. The eight planned attacks on carrying parts of the city at religious establishments and government buildings. For six months, the eight remained in custody, and the National Investigation Agency (NIA) searched their electronic devices for any trace of evidence that pointed to a ... Read More »

Man Busted for Shipping Darknet Packages to His Mother’s Address

In August 2016, a 36-year-old from Vorchdorf ordered drugs from the darknet. The man, a 36-year-old shipped the packages to his mother’s address; the rehab program he participated in would catch these types of mailings. The Frankfurt Customs Office, between August and December, intercepted four packages sent to the mother’s house in Unterach. The Federal Police sent word to the ... Read More »

Bitcoin news roundup December 31, 2016

This week’s summary of various cryptocurrency news and developments: New developments: The IRS and DOJ want to stop Coinbase customer from interfering in its summons After the IRS filed a “John Doe” summons targeting Coinbase in an attempt to access its user records on November 17, a battle ensued in which Coinbase is attempting to defend the privacy of its ... Read More »

Man Sentenced to 17 Years for Transporting 991 Grams of Cocaine in a Printer

U.S. District Judge Mitchell S. Goldberg, on December 22, convicted a four-time drug trafficker to 204 months in prison. Angel Catalino Ivostraza-Torres, a 53-year-old from North Philidelphia, received one count of possession with intent to distribute 500 grams of cocaine—first-degree distribution. In total, according to court documents, Ivostraza-Torres possessed 991 grams of cocaine. Investigators, based on evidence built against Ivostraza-Torres, ... Read More »

A New Model For Incentivizing Producers of Renewable Energy Via Ethereum’s Blockchain

A group of researchers published a paper to help the US State Public Utilities Commissions (PUC) establish an inexpensive framework that enables them to create a unique system for rewarding producers of renewable energy via “Renewable Energy Credits” REC in the form of a cryptocurrency released on Ethereum’s blockchain. The standards proposed by the researchers reward Renewable Energy Producers QP ... Read More »

Freedom Hosting Owner Files Another Appeal to Fight US Extradition

In December 2015, the High Court in Dublin ordered the extradition of Eric Eoin Marques, the accused-host of Freedom Hosting. The extradition of Marques, a 31-year-old Dublin man who held both Irish and US citizenships, halted pending two appeal cases. He appealed the extradition and that Ireland had no right to try him (and why the Director of Public Prosecutions ... Read More »

Law Enforcement Busted Two Slovenian Darknet Vendors for Selling Firearms and Grenades

Europol and the Ljubljana Police Directorate (Policijska uprava Ljubljana or LPD) recently announced the arrest of two darknet weapons vendors. Europol’s Focal Point Firearms unit aided the LPD in identifying two Slovenian nationals suspected of distributing automatic weapons via the darknet. The two, until their December 13 arrest also sold grenades, ammunition, knives, and handguns. They received 11 counts of ... Read More »

Turkish Government Permanently Bans Tor and VPN Services

In an effort to prevent people from circumventing internet censorship, the Turkish government blocked access to Tor. According to TurkeyBlocks, the government imposed an immediate 12-hour ban on Tor, VPNs, and social media. The social media and messaging services made their way back online after the 12-hour mark, but the Tor ban remains blocked. TurkeyBlocks monitors internet censorship in real ... Read More »

Citizens Turn To Bitcoin in the Wake of Global Demonetization

The process of demonetization is currently underway on a global-scale with several currencies seeing restrictions in both the circulation and use of national banknotes. India was the first and the most predominant example of the demonetization fiasco that is now plaguing several countries across the globe in what is being called a bid to fight corruption and money laundering. Countries ... Read More »

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Indian Middleman Charged With Money Laundering For Trading Bitcoin

A bitcoin trader was arrested in India and charged with money laundering last Sunday. A group of undercover journalists from India’s Today reported that they lifted the shades off a small “internet broker” that offered exchange of India’s demonetized banknotes, the 500 and 1000 rupees, to bitcoin. According to the Indian police, a man named, Vijay, used a small shop ... Read More »