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Tag Archives: bitcoin

Maryland Men Admit Selling Xanax and Laundering Bitcoin Worth Millions

In a case directly connected to the Department of Justice’s Operation Dark Gold, two Maryland men pleaded guilty to federal charges stemming from a multimillion-dollar Xanax distribution operation and a massive Bitcoin laundering conspiracy. On July 3, the Department of Justice announced the arrests of more than 30 different suspected darkweb drug dealers and their co-conspirators. Dubbed “Operation Dark Gold,” ... Read More »

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Bitcoin price weekly analysis – 15.10.2018

Bitcoin price dropped by around 7.5% during the previous week. The market’s bears managed to take bitcoin price to break out of the symmetrical triangle pattern, we observed during our previous analysis, towards the downside to record a weekly low of $6,220 last Thursday. However, after the week’s low was recorded, bitcoin price began rising again up to $6,400 on ... Read More »

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Distribution of Bitcoin and Ethereum Nodes Across the Globe – An Analytical Study

With the rising popularity of cryptocurrencies during the past couple of years, the cost of mining the most valuable coins have skyrocketed too. Almost every country on the planet hosts mining rigs operated by individuals who invest hundreds to thousands of dollars to mine crypto. A recently published paper examined closely one overarching question regarding the cryptocurrency mining phenomenon: what ... Read More »

Weekly Bitcoin Price Analysis – 9.10.18

Bitcoin price has been moving sideways during most of last week’s trading sessions, as the market’s bulls failed to push the market above the symmetrical triangle pattern that we spotted on the charts during last week’s bitcoin price analysis. Bitcoin price failed to breach the resistance around $6,757.5, which corresponds to the 23.6% Fibonacci retracement level, as candlesticks bounced off ... Read More »

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Weekly Bitcoin Price Analysis – 30.9.18

Bitcoin price was more or less stable last week, and gains did not exceed 2% during the week’s trading sessions. Even though this is not what crypto investors expected to happen, it seems that we are in the “silence before the storm” phase, as we are just two months away from the bullish rally that usually takes place towards the ... Read More »

Reasons why Bitcoin crimes has reduced when compared to the previous year

The relevance of cryptocurrency in the world economy is increasing and many believe that bitcoin and crime go hand-in-hand because blockchain technology does not need any formal registration before one could create an account. However, it could be noted that an official of the US Drug Enforcement Agency had last month said that cryptocurrency crimes dropped by 80% with bitcoin contributing only 10% of such crimes presently, irrespective of its large volume of trades and holders. This could be seen by the publication on cointelegraph that US DEA crypto crimes dropped by 80%. Here are several reasons that Bitcoin crimes are reducing tremendously: There ... Read More »

Bitcoin Fraudster gets a Suspended Sentence

Aaron Brown, 23, a Liverpool resident was handed 18 weeks suspended sentence by Judge Ian Conrad, QC of the Liverpool Crown Court. Brown was given the sentence after he successfully defrauded two London bitcoin investors. According to Prosecutor Derek Jones, Brown made attempts of Supplying something he did not have. Brown was finally arrested and charged after having managed to ... Read More »

Bitcoin Platform Operator Pleads Guilty to Stealing Clients’ Funds.

On July 24, United States attorney Geoffrey S. Berman announced that an operator for currently defunct bitcoin platforms pleaded guilty to securities fraud and obstruction of justice. The operator is guilty of using clients’ funds for his own expenses and lying about details of a hack on his platform that resulted in the loss of 6,000 bitcoins. Jon E. Montroll, ... Read More »

Bitcoin Trader ‘Bitcoin Maven” Sentenced to Federal Prison

United States District Judge Manuel L. Real of the Central District of California sentenced the so-called “Bitcoin Maven” to one year in prison for illegally laundering bitcoin. In order to enforce a prison stay, Judge Real sentenced convicted the money launderer to 12 months and a single day, forcing prison time instead of jail time. Theresa Lynn Tetley, 50, worked ... Read More »

Canadian Authorities Seize Bitcoin from Alleged Silk Road Vendor

According to a Canadian news outlet, the British Columbia Civil Forfeiture Office has claimed $1.4 million in Bitcoin seized after the arrest of a man allegedly connected to the famed Silk Road vendor MarijuanaIsMyMuse. However, the man was arrested in 2013, sentenced in 2015, and free only nine months later. Neither the Civil Forfeiture Office nor the Vancouver Police have ... Read More »

Man Sentenced for Running an Illegal Bitcoin Exchange

U.S. Attorney Annette L. Hayes announced that Louis Ong, 37, had been sentenced for effectively laundering millions of dollars in Bitcoin for undercover agents who had indicated their money originated from a successful drug distribution operation. U.S. District Judge Robert S. Lasnik sentenced the man to three years of supervised release, suspended with 20 days in jail and a $1 ... Read More »

Amazon Patent to Help Unmask Bitcoin Users by Subscribing to “Data Stream”

Amazon, the world’s largest retailer, has a new patent that takes the unique authoritative opinion contrary to the decentralized pseudo-anonymous outlook for virtual currency—namely, bitcoin. The patent uses its data-stores to establish the active participants in bitcoin transactions so as to trade the said information on to a subscriber base, a crucial component that would be very useful in law ... Read More »

Justice does not know what to do with bitcoins

Benton County sheriffs mine Bitcoin for dark web investigations

As the conversation on the good and bad of cryptocurrency rages, the sheriff’s office in Benton County is way ahead of the talk. In 2017, their unit dedicated to handling cyber crimes decided to venture into the untamed waters of Bitcoin mining. Their interest in the matter, however, was purely out of need and not for wealth creation. In other ... Read More »