bitcoin

Auto Added by WPeMatico

Hackers Keep Robbing Cryptocurrency YouTubers

Hackers Keep Robbing Cryptocurrency YouTubers

Hackers are going after YouTubers who make videos about cryptocurrencies. Adrianne Jeffries, reporting for The Verge: Cryptocurrency vlogging has exploded on YouTube over the last two years. In the last 90 days, there were 122,000 videos on cryptocurrency or Bitcoin uploaded to YouTube, garnering 328 million views, according to video analytics platform Tubular Labs. As it turns out, YouTubers are juicy targets for hackers because they share so much information about themselves. They often share their screens as they make trades, which can reveal what apps, usernames, and cryptocurrency addresses they use. They may even tell their followers what systems they use to secure their holdings, which can end up being a blueprint for attackers. “You have to be very careful about that stuff as a YouTuber,” says Peter Saddington, the host of Decentralized TV on YouTube who infamously bought a Lamborghini with his Bitcoin earnings. “In my early days of YouTube, I used to show my trades. I learned that was not a good idea.” Saddington was hacked in late 2017.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
German ICO Savedroid Pulls Exit Scam After Raising $50 Million

German ICO Savedroid Pulls Exit Scam After Raising $50 Million

German company Savedroid has pulled a classic exit scam after raising $50 million in ICO and direct funding. The site is currently displaying a South Park meme with the caption “Aannnd it’s gone.” The founder, Dr. Yassin Hankir, has posted a tweet thanking investors and saying “Over and out.” TechCrunch reports: A reverse image search found Hankir’s photo on this page for Founder Institute, and he has pitched his product at multiple events, including this one in German. Savedroid was originally supposed to use AI to manage user investments and promised a crypto-backed credit card, a claim that CCN notes is popular with scam ICOs. It ran for a number of months and was clearly well-managed as the group was able to open an office and appear at multiple events.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
Cambridge Analytica Planned To Launch Its Own Cryptocurrency

Cambridge Analytica Planned To Launch Its Own Cryptocurrency

Cambridge Analytica, the data analytics firm that harvested millions of Facebook profiles of U.S. voters, attempted to develop its own cryptocurrency this past year and intended to raise funds through an initial coin offering. The digital coin would have helped people store online personal data and even sell it, former Cambridge Analytica employee Brittany Kaiser told The New York Times. The Verge reports: Cambridge Analytica, which obtained the data of 87 million Facebook users, was hoping to raise as much as $30 million through the venture, anonymous sources told Reuters. Cambridge Analytica confirmed to Reuters that it had previously explored blockchain technology, but did not confirm the coin offering and didnâ(TM)t say whether efforts are still underway. The company also reportedly attempted to promote another digital currency behind the scenes. It arranged for potential investors to take a vacation trip to Macau in support of Dragon Coin, a cryptocurrency aimed at casino players. Dragon Coin has been supported by a Macau gangster Wan Kuok-koi, nicknamed Broken Tooth, according to documents obtained by the Times. Cambridge Analytica started working on its own initial coin offering mid-2017 and the initiative was overseen in part by CEO Alexander Nix and former employee Brittany Kaiser. The companyâ(TM)s plans to launch an ICO were still in the early stages when Nix was suspended last month and the Facebook data leak started to gain public attention.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
New York's Attorney General Is Investigating Bitcoin Exchanges

New York's Attorney General Is Investigating Bitcoin Exchanges

The office of New York Attorney General Eric Schneiderman announced today that it has launched an investigation into bitcoin exchanges. He’s reportedly looking into thirteen major exchanges, including Coinbase, Gemini Trust, and Bitfinex, requesting information on their operations and what measures they have in place to protect consumers. The Verge reports: “Too often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms,” Schneiderman said in a statement. His office sent detailed questionnaires to the thirteen exchanges, asking them to disclose who owns and controls them, and how their basic operation and transaction fees work. The questionnaire also asks for specific details on how exchanges might suspend trading or delay orders, indicating Schneiderman is particularly concerned with exchanges manipulating the timing of public orders. The investigation will attempt to shed more transparency on how platforms combat market manipulation attempts and suspicious trading, as well as bots, theft, and fraud. Many of the exchanges Schneiderman is targeting, such as Beijing-based Huobi, have headquarters located outside the U.S., but the attorney general has jurisdiction over any foreign business operating in New York. Coin Center’s director of research Peter Van Valkenburgh tells The Verge that the new investigation might be overkill, given the existing rules already in place for bitcoin exchanges. “Far from being unregulated,” he says, “these businesses must contend with state money transmission licensing laws, federal anti-money laundering law, CFTC scrutiny for commodities spot market manipulation, SEC scrutiny for securities trading (should any tokens traded be securities), and in this case, state consumer protection investigations from the several attorneys general.”

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
Coinbase Buys Earn.com For Reported $100 Million, Adds Key Executive

Coinbase Buys Earn.com For Reported $100 Million, Adds Key Executive

Digital currency exchange Coinbase announced today that it has acquired Earn.com, a portal that allows people to make money by answering emails or completing other tasks. Coinbase did not disclose the terms of the deal but according to Recode, the offer was more than $100 million. As part of the acquisition, the crypto company will bring on Earn’s founder and CEO Balaji Srinivasan as its first-ever chief technology officer. From the report: Srinivasan will act as “technological evangelist” for both the industry, and for Coinbase in his new role, the company said. “Balaji has become one of the most respected technologists in the crypto field and is considered one of the technology industry’s few true originalists,” Coinbase CEO Brian Armstrong said in a blog post Monday. Srinivasan holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering from Stanford University, and has taught courses in data mining, stats, genomics, blockchain at his alma mater. He will also be responsible for recruiting more talent, an effort that the San Francisco-based company has beefed up in recent months.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
A Coal Power Plant is Being Reopened For Blockchain Mining

A Coal Power Plant is Being Reopened For Blockchain Mining

An anonymous reader shares a report: Sure, you could mine bitcoin on that old PC in your garage, or you could use a whole power station to do it. That’s the idea behind the Blockchain Application Centre — an Aussie tech initiative that will see one of the country’s now-shuttered coal-fired power plants reopened to provide cheap power for blockchain applications. It’s the work of Australian tech company IOT Group, which has partnered with local power company Hunter Energy on the project. According to The Age, Hunter Energy will recommission the Redbank power station in the Hunter Valley, two hours drive north of Sydney. Once the power plant is reopened (expected to be completed within 12 months), it will offer wholesale or “pre-grid” power prices to blockchain companies, allowing them to do things like mining cryptocurrencies, without having to pay retail power prices.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
438 Bitcoins Worth Nearly $3.5 Million Stolen From Exchange In India, CSO Accused

438 Bitcoins Worth Nearly $3.5 Million Stolen From Exchange In India, CSO Accused

William Robinson shares a report from The Economic Times: Nearly 438 bitcoins, worth nearly $3.5 million, were stolen from a top exchange firm in India in what is being billed as the biggest cryptocurrency theft in the country so far. The exchange, which has over two hundred thousand users across the country, found that all the bitcoins that were stored offline had vanished. It was later found that the private keys — the password that is kept by the company and is stored offline — were leaked online, leading to the hack. The company tried to trace the hackers, but found that all the data logs of the affected wallets had been erased, leaving no trails about where the bitcoins were transferred. Coinsecure, a Delhi-based cryptocurrency exchange, is accusing its CSO, Amitabh Saxena, of siphoning off the money from the firm’s wallet. The exchange is urging the government to seize Saxena’s passport, fearing that he may leave the country.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
Japan Could Have More Than 3 Million Cryptocurrency Traders

Japan Could Have More Than 3 Million Cryptocurrency Traders

According to Japan’s Financial Services Agency (FSA), the country has at least 3.5 million individuals that are trading with cryptocurrencies as actual assets. “Among them, crypto investors in their 20s, 30s and 40s make up a major share, accounting for 28, 34, and 22 percent, respectively, of the total crypto trader population in Japan,” reports CoinDesk. From the report: Announced at the first meeting of a cryptocurrency exchange study group established by the FSA in early March, the data release marks the latest effort by the financial watchdog in bringing greater transparency to the industry following a recent hack of one of the domestic exchange Coincheck. According to the FSA, the study and disclosure of the domestic trading statistics is a first step towards a more comprehensive examination over institutional issues in the cryptocurrency trading space in Japan. In comparison, the financial regulator also disclosed in the latest report that the number of traders investing in cryptocurrency margins and futures is about 142,842 as of the end of March. What’s perhaps notable is the major contrast in the growth of yearly trading volume drawn to these two different types of investments. According to the FSA’s data, for example, yearly trading volume of the actual bitcoin cryptocurrency has grown from $22 million as of Mar. 31 in 2014 to $97 billion in 2017. Yet at the same time, trading on margins, credit and futures of bitcoin as an underlying asset has surged from only $2 million in 2014 to a whopping $543 billion just in 2017 alone, the agency said.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
George Soros, Rockefeller Take Their Marks Before Diving Into the Cryptocurrency Pool

George Soros, Rockefeller Take Their Marks Before Diving Into the Cryptocurrency Pool

john of sparta shares a report from Business Insider (Warning: source may be paywalled; alternative source): Reports of a crackdown on cryptocurrency advertisements by tech giants such as Google and Facebook as well as regulatory uncertainty in Asia and the U.S. have weighed on the coin for much of March and April. The coin is down 50% since the beginning of the year. But investors appeared to be more bullish during Sunday’s trade following reports that two Wall Street icons were looking to get into the market for cryptos. More notably, the investment fund founded by billionaire George Soros is preparing to dive into cryptocurrency trading, even though Soros himself previously described them as a “bubble.” Adam Fisher, who oversees global macroeconomic investing for Soros Fund Management, has gained internal approval to invest in and trade cryptocurrencies, according to a Bloomberg News report. Also, Venrock — a venture capital firm founded by descendants of famed capitalist John D. Rockefeller — announced it was partnering with a cryptocurrency investment firm based in Brooklyn. Fortune first reported on the partnership.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog
GPU Prices Soar as Bitcoin Miners Buy Up Hardware To Build Rigs

GPU Prices Soar as Bitcoin Miners Buy Up Hardware To Build Rigs

“Bitcoin and other cryptocurrency miners have created a dearth of mid-range and high-end GPU cards that are selling for twice as much as suggested retail,” reports Computerworld. “The reason: miners are setting up server farms with the cards.”

Lucas123 writes: GPU prices have more than doubled in some cases… Some of the most popular GPUs can’t even be found anymore as they’ve sold out due to demand. Meanwhile, some retailers are pushing back against bitcoin miners by showing favoritism to their traditional gamer customers, allowing them to purchase GPUs at manufacturer’s suggested retail price. Earlier this year, NVIDIA asked retailers of its hardware to prioritize sales to gamers over cryptocurrency miners.

Read more of this story at Slashdot.

Go to Source

Posted by amiller in bitcoin, Blog