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Key Bitcoin developer calls on FBI to recover $3.6M in digital coinArs Technica - 4 Jan 2023 02:23
So much for enthusiasts championing the decentralization of cryptocurrencies.
FTX founder Sam Bankman-Fried allowed $250 million bond, house arrestBusiness Standard - 23 Dec 2022 03:03
The cryptocurrency entrepreneur Sam Bankman-Fried can post USD 250 million bond and live in his parents' home in California while he awaits trial on charges that he swindled investors and looted... customer deposits on his FTX trading platform, a judge said on Thursday. Assistant US Attorney Nicolas Roos said in US District Court in Manhattan that Bankman-Fried, 30, perpetrated a fraud of epic proportions. Roos proposed strict bail terms, including a USD 250 million bond and house arrest at his parents' home in Palo Alto, California. An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said. Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an...
Sam Bankman-Fried, ex-CEO of failed crypto firm FTX, arrested in Bahamas at US requestChicago Tribune - 13 Dec 2022 03:51
US authorities say former CEO of failed crypto firm FTX Sam Bankman-Fried has been arrested in Bahamas at US request.
'FTX Accounts Drainer' Now Holds Over 250,000 ETH, Address Is the 27th Largest Ethereum WalletBitcoin.com - 20 Nov 2022 01:35
The exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity’s holdings. The wallet is now situated in the top 30 largest... wallet positions in terms of ethereum holdings. The address dubbed the “FTX Accounts Drainer” now holds 250,735 ethereum on Saturday, Nov. 19, […]
Binance walks away from FTX crypto exchange bailoutBBC - 10 Nov 2022 00:31
Binance will not pursue the deal for its smaller rival citing reports of 'mishandled customer funds'.
US justice department seizes bitcoins worth more than $3bn stolen a decade agoThe Guardian - 8 Nov 2022 01:10
A search of James Zhong's Georgia home uncovered 50,000 bitcoins found on a circuit board in the bottom of a popcorn tin The United States is seeking the forfeiture of more than $1bn in bitcoin stolen... from the Silk Road online marketplace, federal prosecutors in Manhattan said on Monday. In the second largest seizure in US Department of Justice history, Internal Revenue Service (IRS) agents obtained the 50,000 bitcoins during a November 2021 search of the defendant James Zhong's home in Gainesville, Georgia.
Feds freeze $30m in cryptocurrency stolen from Axie InfinityThe Register - 10 Sep 2022 00:08
But the North Korean criminals are still over half a billion digicash dollars up Federal investigators and private companies seized $30 million in cryptocurrency stolen in March by North Korean-linked... APT gang Lazarus Group from a video game developer, the latest example of the growing skills of government and cybersecurity experts to track and recover such ill-gotten gains....
Dutch arrest man linked to currency mixer Tornado CashPhys.org - 14 Aug 2022 09:51
Dutch financial prosecutors say they detained a man suspected of involvement in "concealing criminal financial flows and facilitating money laundering" through the virtual currency mixer Tornado Cash.
U.S. Sanctions Virtual Currency Mixer Tornado Cash for Alleged Use in LaunderingThe Hacker News - 9 Aug 2022 16:13
The U.S. Treasury Department on Monday placed sanctions against crypto mixing service Tornado Cash, citing its use by the North Korea-backed Lazarus Group in the high-profile hacks of Ethereum bridges... to launder and cash out the ill-gotten money. Tornado Cash, which allows users to move cryptocurrency assets between accounts by obfuscating their origin and destination, is estimated to have been
Electricity used to mine bitcoin plummets as crypto crisis widensThe Guardian - 24 Jun 2022 13:49
Consumption down by third since 11 June, with even sharper falls among other cryptocurrency networks The amount of electricity consumed by the largest cryptocurrency networks has decreased by up to... 50% as the "crypto winter" continues to eat at the incomes of "miners" and financial contagion spreads further throughout the sector. The electricity consumption of the bitcoin network has fallen by a third from its high of 11 June, down to an annualised 131 terawatt-hours a year, according to estimates from the crypto analyst Digiconomist. That still equates to the annual consumption of Argentina, with a single conventional bitcoin transaction using the same amount of electricity that a typical US household would use over 50 days.
Elon Musk says he never told people to invest in crypto. Here's what he has said.Mashable - 22 Jun 2022 00:50
With the entire cryptocurrency market currently tanking and major crypto firms becoming insolvent, one would think Elon Musk might reflect on some of his recent statements with a little... contrition.After all, Musk is a big proponent of cryptocurrency, right? "I have never said that people should invest in crypto," Elon Musk told the crowd during his virtual appearance at the Qatar Economic Forum after he was asked about the present state of cryptocurrency. Tweet may have been deleted (opens in a new tab) Musk continued. "In the case of Tesla, SpaceX, myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets," he said. This appears to be true, technically. Musk does not seem to have ever uttered the words "people should invest in crypto" or any sort of...
El Salvador's Bitcoin investment suffers amid crypto meltdownCNN - 15 Jun 2022 02:38
El Salvador has embraced Bitcoin like no other country, with the government purchasing hundreds of coins last year as it announced that the cryptocurrency would become legal tender.
'Crypto muggings': thieves in London target digital investors by taking phonesThe Guardian - 8 May 2022 13:58
Exclusive: Thousands of pounds stolen in cases seen by the Guardian in reports from City of London police Thieves are targeting digital currency investors on the street in a wave of "crypto muggings",... police have warned, with victims reporting that thousands of pounds have been stolen after their mobile phones were seized. Anonymised crime reports provided to the Guardian by City of London police, as part of a freedom of information request, reveal criminals are combining physical muscle with digital knowhow to part people from their cryptocurrency.
Biden's New Executive Order On Digital Assets Fuels U.S. Crypto EconomyForbes - 12 Mar 2022 05:51
Brett Harrison, President of FTX.US, said, "Some amount of regulation is important to allow institutions to come in and feel confident in being able to put their money into this emerging space like... cryptocurrency."
Crypto.com Finally Admits It Lost $30 Million in a HackWired - 22 Jan 2022 16:00
Plus: Scammer arrests, the NSA plays defense, and more of the week's top security news.
Legal Experts Say It's Too Late to Ban Crypto, India Needs Comprehensive RegulationBitcoin.com - 29 Dec 2021 06:30
Indian legal experts reportedly say that it is too late to ban cryptocurrency despite calls for a complete crypto ban by the central bank, the Reserve Bank of India (RBI). The Swadeshi Jagran Manch... (SJM), an affiliate of the nationalist Rashtriya Swayamsevak Sangh, also passed a resolution calling for an outright ban on crypto. Meanwhile, […]
Bored Ape Yacht Club: Someone accidentally sold a $300k NFT for $3K - CNETCNET - 13 Dec 2021 05:06
"Fat finger" errors occasionally happen in traditional finance, but they're usually stopped or reversed. Not so with NFTs and cryptocurrency.
Italy makes life uncomfortable for unvaccinated peopleFox News - 6 Dec 2021 15:08
Italy is making life more uncomfortable for unvaccinated people this holiday season, excluding them from indoor restaurants, theaters and museums starting Monday to reduce the spread of coronavirus... and encourage vaccine skeptics to get their shots.
El Salvador to build cryptocurrency-fueled 'Bitcoin City' at the base of one of its volcanosDaily Mail - 22 Nov 2021 03:35
El Salvador's President Nayib Bukele announced plans to build a bitcoin city called 'Bitcoin City' in a circular form at the base of the Conchagua Volcano, using its energy to mine the cryptocurrency.
Bitcoin futures ETF debuts with highest ever first day 'natural' volume of $1BCoin Telegraph - 20 Oct 2021 03:24
ProShares' Bitcoin Strategy ETF saw around $1 billion volume on its opening day, with 24.313 million BITO shares changing hands.
Bitcoin-mining power plant raises ire of environmentalistsABC News - 17 Oct 2021 01:12
Operation took over a power plant to find cheap energy for currency mining.
British Museum enters world of NFTs with digital Hokusai postcardsThe Guardian - 24 Sep 2021 14:30
Partnership with new platform LaCollection aims to inspire next generation of art collectors The British Museum is venturing into the emerging world of non-fungible tokens by partnering with a new... platform to launch digital postcards of the work of Katsushika Hokusai. NFTs - unique digital assets stored on the blockchain - have gripped the arts sector since the digital artist Mike Winkelmann, better known as Beeple, made history in March by selling an NFT for $69.4m.
Crypto: Why did Visa just buy a 'CryptoPunk' NFT for $150,000? The payments giant wants 'a seat at the table as the crypto economy evolves'Market Watch - 25 Aug 2021 03:52
Visa said it purchased a "CryptoPunk" nonfungible token, or NFT, for nearly $150,000, jumping into the growing frenzy in digital assets that some argue could be a game-changer in the realm of art,... music and ownership of virtual assets.
Poly Network hacker returns nearly all $610M in stolen assetsAppleInsider - 14 Aug 2021 05:04
One of the largest cryptocurrency thefts in history has turned into one of the oddest, with the perpetrator or perpetrators returning nearly all $610 million in assets to victim Poly Network. Earlier... this week, decentralized finance platform Poly Network was hacked and an estimated $610 million in crypto swiped. The company pleaded with the attacker or attackers, urging them to return the funds and avoid prosecution.As of Wednesday, the supposed hacker or hackers returned $260 million in assets, reports The Wall Street Journal. Another batch of returns brought that amount up to $342 million on Thursday, CNBC.
Poly Network Offers $500,000 Reward to Hacker Who Stole and Then Returned $611 Million in CryptoGizmodo - 14 Aug 2021 00:45
A cryptocurrency platform that was hacked and had hundreds of millions of dollars stolen from it has now offered the thief a "reward" of $500,000 after the criminal returned almost all of the money.