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Bitcoin Exchange Accidentally Allowed Customers To Buy Coins For $0

Bitcoin Exchange Accidentally Allowed Customers To Buy Coins For $0

AmiMoJo writes: “A system glitch at cryptocurrency exchange site Zaif enabled users to obtain digital money for free, with one apparently “purchasing” Bitcoin valued at $20,000,000,000,000 and then attempting to cash in on it…” according to the Japanese newspaper Asahi Shimbun. “The glitch, which lasted for 18 minutes from 5:40 p.m. to 5:58 p.m. on Feb. 16, affected Zaif’s price calculation system, enabling customers to buy cryptocurrencies for nothing.” CoinDesk adds that “At least one customer attempted to resell their bitcoin, but the large amount of the cryptocurrency offered soon drew attention even outside the exchange. The firm later cancelled the transactions and corrected the users’ balances. However, a source suggests that the correction is still being agreed with one of the seven users who attempted to transfer the free bitcoin away from the Zaif platform.”

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Posted by amiller in bitcoin, Blog

Chinese Mining Company Bitmain Has Higher Profits Than NVIDIA

According to a recent report Chinese mining hardware giant Bitmain has had higher profits in 2017 than long-time GPU giant NVIDIA. A report published February 21 from investment research company Bernstein, says that the four-year-old Bitmain reportedly made between $3 and $4 billion in operating profit in 2017, whereas NVIDIA made about $3 billion during the same period.

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Posted by amiller in All News, AntMiner, bitcoin, Bitmain, Blog, Cryptocurrency Mining, Cryptocurreny, Hardware News, Mining, Nvidia, Samsung, TSMC
The Los Angeles Times Website Is Unintentionally Serving a Cryptocurrency Mining Script

The Los Angeles Times Website Is Unintentionally Serving a Cryptocurrency Mining Script

troublemaker_23 shares a report from iTWire: The Los Angeles Times website is serving a cryptocurrency mining script which appears to have been placed there by malicious attackers, according to a well-known security expert. British infosec researcher Kevin Beaumont, who has warned that Amazon AWS servers could be held to ransom due to lax security, tweeted that the newspaper’s site was serving a script created by Coinhive. The Coinhive script mines for the monero cryptocurrency. The S3 bucket used by the LA Times is apparently world-writable and an ethical hacker appears to have left a warning in the repository, warning of possible misuse and asking the owner to secure the bucket.

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Posted by amiller in bitcoin, Blog
Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies

Poland's Central Bank Accused of Paying YouTubers To Make Videos That Attack the Legitimacy of Cryptocurrencies

Poland’s central bank has been accused of hiring YouTubers to “start a smear campaign” against cryptocurrencies in the country, Business Insider reports. From the story: According to Business Insider Poland, the Narodowy Bank Polski spent around 91,000 zloty ($27,300) on a marketing campaign designed to attack the legitimacy of cryptocurrencies. The money was spent on platforms including Google and Facebook, but was also used to pay a Polish Youtube partner network called Gamellon. The Gamellon network reportedly represents many of Poland’s top YouTubers, including popular prankster Marcin Dubiel. In December, Dubiel published a video titled “STRACILEM WSZYSTKIE PIENIADZE?!” — which loosely translates as “I LOST ALL MY MONEY?!” In the satirical video, Dubiel invests all his money in a fake cryptocurrency called Dubielcoin, gets rich, but then sees its value plunge and loses everything. It has racked up over 500,000 views.

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Posted by amiller in bitcoin, Blog

New Steam Game Has a 1 Bitcoin Prize For Beating It

Game developer Gem Rose Accent is offering a 1 Bitcoin prize, which is currently worth $10,449.01 at the time of writing this post, for the first person to beat their new game. The game is MonteCrypto: The Bitcoin Enigma, where players have to navigate through a very complicated maze from a first-person perspective and solve 24 puzzles to finish the game.

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Posted by amiller in All News, bitcoin, Blog, game, Gaming News, Gem Rose Accent, MonteCrypto: The Bitcoin Enigma, Steam
Venezuela Launches Oil-Backed Cryptocurrency

Venezuela Launches Oil-Backed Cryptocurrency

Venezuela has launched a cryptocurrency backed by oil in an attempt to bypass tough economic sanctions imposed by the U.S. government. “The ‘Petro’ is intended to bolster the country’s crumbling economy, which has been suffering from hyperinflation and devaluation for years,” reports the BBC. “Venezuela claims it is the world’s first sovereign cryptocurrency.” From the report: Critics say the move is a desperate attempt by Caracas to raise cash at a time when Venezuela lacks the ability to repay its $150 billion of foreign debt. Opposition leaders said the sale constitutes an illegal issuing of debt, while the US Treasury Department warned it may violate sanctions imposed last year. The government says the currency aims to circumvent US sanctions on the economy. President Nicolas Maduro has said each tokens will be backed by a barrel of Venezuelan crude. The Latin American country has the world’s largest proven oil reserves. A total of 100 million Petros will be sold, with an initial value set at $60, based on the price of a barrel of Venezuelan crude in mid-January. The official website published a guide to setting up a virtual wallet in which to hold the cryptocurrency, but did not provide a link for actually doing so on Tuesday.

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Posted by amiller in bitcoin, Blog
Salon Magazine Mines Monero On Your Computer If You Use an Ad Blocker

Salon Magazine Mines Monero On Your Computer If You Use an Ad Blocker

dryriver shares a report from BBC: News organizations have tried many novel ways to make readers pay — but this idea is possibly the most audacious yet. If a reader chooses to block its advertising, U.S. publication Salon will use that person’s computer to mine for Monero, a cryptocurrency similar to Bitcoin. Creating new tokens of a cryptocurrency typically requires complex calculations that use up a lot of computing power. Salon told readers: “We intend to use a small percentage of your spare processing power to contribute to the advancement of technological discovery, evolution and innovation.” The site is making use of CoinHive, a controversial mining tool that was recently used in an attack involving government websites in the UK, U.S. and elsewhere. However, unlike that incident, where hackers took control of visitors’ computers to mine cryptocurrency, Salon notifies users and requires them to agree before the tool begins mining.

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Posted by amiller in bitcoin, Blog
Kaspersky Says Telegram Flaw Used For Cryptocurrency Mining

Kaspersky Says Telegram Flaw Used For Cryptocurrency Mining

According to Kaspersky Lab, hackers have been exploiting a vulnerability in Telegram’s desktop client to mine cryptocurrencies such as Monero and ZCash. “Kaspersky said on its website that users were tricked into downloading malicious software onto their computers that used their processing power to mine currency, or serve as a backdoor for attackers to remotely control a machine,” reports Bloomberg. From the report: While analyzing the servers of malicious actors, Kaspersky researchers also found archives containing a cache of Telegram data that had been stolen from victims. The Russian security firm said it “reported the vulnerability to Telegram and, at the time of publication, the zero-day flaw has not since been observed in messenger’s products.”

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Posted by amiller in bitcoin, Blog

US and UK Government Website Infected With Crypto-Mining Malware

It seems that potentially thousands of websites run by U.S. and UK government agencies were infected Sunday with malware that caused visitors to secretly mine cryptocurrency. Government websites are already known for being slow and having horrible out-dated web design standards, and now they are embedded with crypto-mining malware that slows things down even more.

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Posted by amiller in All News, bitcoin, Blog, Browsealoud, Crypto-mining, Cryptocurrency, Exploit, government, Mining, Web News
Energy Riches Fuel Bitcoin Craze For Speculation-shy Iceland

Energy Riches Fuel Bitcoin Craze For Speculation-shy Iceland

Iceland is expected to use more energy “mining” bitcoins and other virtual currencies this year than it uses to power its homes. From a report: With massive amounts of electricity needed to run the computers that create bitcoins, large virtual currency companies have established a base in the North Atlantic island nation blessed with an abundance of renewable energy. The new industry’s relatively sudden growth prompted lawmaker Smari McCarthy of Iceland’s Pirate Party to suggest taxing the profits of bitcoin mines. The initiative is likely to be well received by Icelanders, who are skeptical of speculative financial ventures after the country’s catastrophic 2008 banking crash. “Under normal circumstances, companies that are creating value in Iceland pay a certain amount of tax to the government,” McCarthy told The Associated Press. “These companies are not doing that, and we might want to ask ourselves whether they should.”

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Posted by amiller in bitcoin, Blog