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Bitcoin News Roundup 2st October 2016

This week’s summary of various cryptocurrency news and developments New developments: IBM claims 65% of world’s major banks will use blockchain by 2019 A recent report from IBM suggests that by 2019, 65% of the world’s major banks will be using blockchain technology. The CEO Ginni Rmoetty, speaking at the Sibos Conference, said that she wasn’t talking about bitcoin or ... Read More »

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German Police Busted A Major Deepweb Vendor And Nobody Noticed

Following a deepweb crack-down promised by law enforcement in Germany, another suspected deepweb vendor has been arrested. While little information is known, the current details indicate the arrestees ran a large scale global operation. In July, the Federal Police in Germany announced that investigating the deepweb has become a priority for federal law enforcement. This newfound focus came directly from ... Read More »

Croatian Police Arrest Suspects After Intercepting 57g Ecstasy Shipment

Two Croatian men were arrested for drug trafficking after local police seized an ecstasy package heading into the country. Local police are becoming aware of an influx of darknet packages travelling through the post office. In mid-September, the narcotics department of the Criminal Police Directorate performed a controlled delivery with a shipment of ecstasy. The number of pills received remains ... Read More »

Russian Hackers Empty Out User Credentials from Big Name Tech Companies

An unnamed group of security researches claims to have intercepted configuration files used in the attacks against a number of the U.S.’ big names in the Technology industry. The group says that the hackers were using a Russian server and spoke Russian in their online communications. The hackers are suspected to have been stealing user information from more than 85 ... Read More »

Yahoo Announces 500m Accounts Were Compromised

It’s been announced that at least 500m Yahoo accounts have been breached. Personal data includes names, passwords, emails, phone numbers, and security questions. Yahoo was officially hacked in early 2014 by a state-sponsored hacking collective. Yahoo is currently investigating the hack in cooperation with law enforcement. Yahoo stated that it does not believe any bank or credit card details were compromised in the hack. ... Read More »

Dutch Brothers Arrested For Stealing Power For Their Bitcoin Mining Operation

Two brothers (whose names were not disclosed) from the Netherlands were arrested for stealing power from a local utility provider in Rotterdam. According to the Dutch authorities, the 39 and 42-year-old men were using the stolen power to fuel their small bitcoin mining operation. The duo was also charged with money laundering. Also, at the younger brother’s place, who owned ... Read More »

Death Penalty Call For Child Sex Offender Peter Scully In Philippines

According to chief prosecutor Jaime Umpa, there is a death penalty call in child sex predator, Peter Scully’s case. The 53-year-old Australian citizen is currently standing before Cagayan De Oro court where prosecutors want to re-introduce death penalty to properly punish the man. Umpa told the media Scully’s deeds are the most shocking officials had ever seen. The Australian man ... Read More »

Third Judge Rules FBI’s Playpen Warrant Invalid

In Iowa, Federal Judge Robert Pratt ordered the evidence resulting from an arrest in the FBI’s Playpen investigation be suppressed. The warrant was issued in part of the FBI’s operation to hack Tor users. The FBI took control of a child pornography site, Playpen, for two weeks in order to unmask its users. Including Judge Pratt’s suppression, this is only the third case out of 200 ... Read More »

Federal Judge Rules That Bitcoin Is Legal Money In Court Case

Potentially setting the standard for future cases, a New York federal judge ruled that Bitcoin is a form of legal currency. On September 19, Judge Alison Nathan of the Southern District Court of New York likely ended the year-long Coin.mx case. Anthony Murgio, one of the Coin.mx operators, was indicted in July 2016 for working without a money transmission license. ... Read More »

Houston Man Arrested After Attempting To Purchase Explosives On AlphaBay

In Houston, a 50-year-old man was arrested for attempting to purchase explosives from the deepweb, federal prosecutors announced. The accused Cary Lee Ogborn, as it turns out, was unknowingly in contact with an undercover agent the entire time. According to the criminal complaint, Ogborn attempted to find and purchase explosives on AlphaBay in early August 2016. The FBI looked into ... Read More »

Mozilla is Fixing a Major Flaw in Firefox

Mozilla has announced that it will be patching a flaw in Firefox that if exploited could be used to impersonate the victim’s browser software update server. Doing so would allow attackers to inject malicious code into the victim’s computer.  Mozilla also stated that the vulnerability can also be used to unmask Tor users. Tor developer Georg Koppen stated: “The security hole allows ... Read More »

CEO and CTO of Popular Bitcoin Exchange Arrested

Bitcoin exchange owners are notoriously known for being in trouble with the law. From the imprisonment of Mark Karpelès, the CEO of bitcoin exchange Mt. Gox to the Cripsty exchange case, many have found themselves facing the law on money related charges. This time, the CEO, CTO and head of IT of a well-known Bitcoin exchange are facing charges of ... Read More »

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Bitcoin Price Analysis 28 September 2016

This week the mood around Bitcoin was frenetic and bullish, with great news coming out from fundamentals and price technicals. A Bitcoin report bumped up its Bitcoin price valuation to $850 citing improved fundamentals. Public blockchains also got a boost at the Global Blockchain Summit in Shanghai despite the massive proliferation of private distributed ledger consortiums. Bitcoin is back! Much ... Read More »

PlayPen Admin Found Guilty

Steven W. Chase, a 57-year-old man from Florida, was found guilty of running the infamous dark web child porn website, PlayPen. A press release by the Department of Justice (DOJ) said the former admin was found guilty of one count of engaging in a child exploitation enterprise, one count of advertising child pornography, three counts of transportation of child pornography ... Read More »

Unbreakable Encryption is One Step Closer to Becoming Usable Technology

The University of Rochester has begun work on what they call a Quantum Enigma Machine. This new machine is said to be responsible for unbreakable encryption. It will also shorten encryption keys, and make data interception much more difficult than it already is. American Mathematician Claude Shannon came up with a binary system that would allow him to transmit messages under three stipulations: the key ... Read More »