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Tag Archives: bitcoins

US Collects $48m on 114,336 Bitcoins from Ross Ulbricht

The Silk Road case proved controversial for hundreds of reasons. As many know, the United States Justice Department auctioned off Silk Road Bitcoins in 2014 and 2015. Ross Ulbricht challenged the seizure of the market’s bitcoins. Now, according to the Acting US Attorney for Manhattan, Ulbricht dropped the claims, allowing the United States government to collect the proceeds of the ... Read More »

ZombieCoin – Using Bitcoin’s Network To Create Next Generation Botnets

A botnet represents a network of a large number of compromised machines, which are distinctively referred to as bots or zombies, and are remotely controlled by the “botmaster”. Botnets were originally coded to act as means for vandalism and to “show off” hacking skills, yet they have presently evolved into sophisticated tools that are continuously being leveraged for online financial ... Read More »

Homeland Security May Study Bitcoin’s Link to Terrorism

In a situation similar to one DeepDotWeb has routinely covered, a US congresswoman proposed a bill that added Bitcoin threat assessment to the Department of Homeland Security’s list of duties. Like Europol and Interpol, congresswoman Kathleen Rice requested that the DHS “investigate whether terrorists use virtual currencies, or receive funding with them.” Rice, a ranking Democrat in the House Counterterrorism ... Read More »

Canadian College Required to Pay 30 Bitcoins by Ransomware, Investigation Opens

Cambrian college, a Canadian university based in Sudbury, Ontario, recently fell victim to a severe ransomware attack which disabled the majority of the functions and services designed for students and professors of the university. According to the representatives of Cambrian college, the ransomware specifically targeted servers and databases of platforms used by students and professors throughout the school year. Although ... Read More »

Tutorial – How To Store Your Bitcoins Securely Using Cold Storage

Tutorial – How To Store Your Bitcoins Securely Using Cold Storage By Tamer Sameeh Cold storage is the process of storing your bitcoins offline. This represents the most secure way to store your bitcoins, especially when large number of coins are considered. There are multiple methods for cold storage: Paper wallets USB drives or other forms of offline storage mediums ... Read More »

Justice does not know what to do with bitcoins

Belgian Government Waits To Sell Confiscated Bitcoins For A Better Price

Belgian authorities are currently sitting on more than 1,000 BTC they seized from darknet narcotics vendors. The Ministry of Justice seeks to sell the seized cryptocurrency at the price it was worth when authorities confiscated the bitcoins from the criminals. Law enforcement authorities arrested the 25-year-old Stijn Victor in Torhout, Belgium, who was working as a computer programmer by the ... Read More »

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Indian Drug Enforcement Officer Caught Stealing Bitcoins

Satyendra Kumar Singh an investigator with the Ahmedabad division of India’s Narcotics Control Bureau has been accused of unfreezing bitcoin accounts that were frozen during a drug investigation in 2015. That 2015 investigation involved five men in their twenties who were operating a company called Provizer Pharma. Provizer sold drugs online to people all over the world. The State of ... Read More »

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Modular Stacking and Bitcoin’s Evolution

Throughout the past few years, bitcoin has offered us a simple, inexpensive and highly secure way for sending payments to anyone, anywhere in the world. Moreover, being open source software, bitcoin is inherently versatile as it is structured in the form of open ended modular stacks whose capabilities are boosted by the functionalities innately provided by the uppermost layers , ... Read More »

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A Bitcoin Framework For Sending Bitcoins Using Low-end Mobile Phones

Bitcoin is a decentralized peer-to-peer (P2P) currency that was innovated to provide a payment system that omits the need for banks and third party intermediaries. In some parts of the developing world, bank fees can be unaffordable, especially in poor rural communities. Moreover, access to retail banking services can be limited in such areas, which can lead to imbalances in ... Read More »

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VirtualPatent – Tracing Online Ideas Via Decentralized Trusted Timestamping Using Bitcoin’s Blockchain

Social networks and other forms of online discussion platforms have made it possible for ideas to be disseminated in the blink of an eye. Nevertheless, there are several logical justifications that render individuals hesitant to share their ideas on the internet. For example, academic researchers usually prefer not to make their contributions public, until they have been formally published to ... Read More »

Belgian Amphetamine Vendor Sentenced to Forfeit 946 Bitcoins and Spend 40 Months in Prison

A Belgian court judge, last year, formally charged a 25-year-old computer programmer for running a million-dollar darknet operation from his family home. The 25-year-old—Stijn Victor, from Torhout, Belgium—ran a smooth network until a few simple mistakes caused his downfall. Shortly thereafter, hearings proceeded; the prosecution pushed for five years in prison, and the defense pushed for 300 hours of community ... Read More »

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ARMA and GARCHA: Bitcoin’s Dependency Analysis On The Exchange Rate Of Global Fiat Currencies

Throughout the past few years, the value of bitcoin, and a handful of other cryptocurrencies, has skyrocketed. Moreover, bouts of uncertainty in regards to the fiat economy have been usually accompanied by sharp bitcoin price surges during the past couple of years which urged a large number of researchers to study the dependency between bitcoin and some of the world’s ... Read More »

A new technique utilizing sub-chains to improve bitcoin’s scalability

The scalability of bitcoin is one of the main issues hurdling its mass adoption. Moreover, oephan risk related to the blockchain’s large blocks limits the transactional capacity of bitcoin. A paper published on Ledger Journal has proposed a new technique that utilizes the concept of weak blocks, or functional difficulty blocks, to construct subchains that extend between adjacent real block ... Read More »

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Teechan : Improving Bitcoin’s Scalability Via Creation Of Off-Chain Payment Channels

Despite the massive potential of the blockchain technology, bitcoin’s blockchain protocol has rather limited transaction throughput and latency rates. Throughout the past few years, massive efforts have been focused on addressing bitcoin’s scalability problem to boost adoption of the currency. Creating off-chain payment channels has appealed many researchers as convenient means for improving the transaction throughput rate and the low ... Read More »

Combining Bitcoin’s Zero Knowledge Proof ZKP Protocol With Graph Isomerism’s Problem

The European Commission stated in a report published in 2013, that their cyber security polls have concluded that in response to the current online security problems; 38% of European internet users have modified their internet behavior, 18% became less likely to make online purchases and 15% are now more reluctant to use internet banking. The report also revealed that 74% ... Read More »