Tag Archives: Security

China detains Bitcoin fraud suspects

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“Chinese police have detained three people who allegedly operated an online Bitcoin trading platform, shut it down unexpectedly, and vanished with investors’ assets.  An investor surnamed Qiao lost 90,000 yuan (14,669 U.S. dollars) and reported the case to Dongyang police, who started an investigation immediately.  Three suspects were caught in mid-November in southwest China’s Guizhou Province, east China’s Anhui Province and south China’s Shenzhen City.  The other two suspects are a 24-year-old man surnamed Jin, who was in charge of the platform’s daily operations, and a 33-year-old man surnamed Huang, who was responsible for financial management.”

http://www.shanghaidaily.com/article/article_xinhua.aspx?id=184636

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Dark Wallet Meeting – interview with Wendell Davis

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“Bitcoin Dark Wallet development by The Unsystem Crew. ‘Your key, your privacy, your sovereignty’. Interview with Wendell Davis : Creator of Hive Wallet.”

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A Short Interview With Blockchain.info Investor Roger Ver

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“Blockchain.info is and has for a while been the Mecca of Bitcoin transactions. Making networking information and data easily viewable. Not only that, the service offers a wildly popular online wallet feature in use by tens of thousands.  Such a well-oiled machine, it seems, and as such, I was interested in getting more information about the service. Blockchain.info investor Roger Ver took some time to answer a few of my questions. I am posting them here as I consider them to be share-worthy.”

http://newsbtc.com/2013/12/03/short-interview-blockchain-info-investor-roger-ver/

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There’s a £60m Bitcoin heist going down right now: watch in real-time

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“Sheep Marketplace closed down over the weekend after someone got away with 96,000 bitcoins – and angry users are chasing him around the internet.  In a normal robbery that money would be gone by now, but it isn’t. Bitcoin is pseudonymous, not anonymous, and bitcoins can’t just disappear. It works because each and every transaction is public and visible to each and every other person using the Bitcoin network, and a person is only as anonymous as their link to their wallet.  Right now, as you’re reading this, you can watch as the the thief starts trying to move their bitcoins on again – it’s currently down to 92,000 bitcoins and dropping as smaller chunks begin going out.”

http://www.newstatesman.com/future-proof/2013/12/theres-%C2%A360m-bitcoin-heist-going-down-right-now-and-you-can-watch-real-time

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Did A Silk Road Successor Just Commit the Perfect Bitcoin Scam?

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“Yesterday, Sheep Marketplace, an anonymous digital narcotics bazaar that grew popular after the shutdown of the Silk Road, announced that it had been robbed of 5,400 bitcoins—the equivalent of $6 million at current exchange rates—and then promptly shut itself down. This came just days after Black Market Reloaded announced it would be shutting down due to an inability to absorb a massive influx of new users leaving Sheep Marketplace.  So, was the Sheep Marketplace a scam, or was the site, as its admins claim, the victim of theft? The consensus on Reddit, SheepMarketScam, and the site’s forum is that the black market’s creators were the thieves.”

http://motherboard.vice.com/blog/did-one-of-the-silk-roads-successors-just-commit-the-perfect-bitcoin-scam

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Toolbar enslaves PCs for Bitcoin mining

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“Web browser toolbars generally are a pain. Many of them promise the earth, but in reality all they do is redirect searches, mine users’ data and slow down computers. One, however, has been discovered taking its users’ computer resources to mine Bitcoins for its developers.  According to security company Malwarebytes, the Myfreeproxy toolbar is designed to let users easily toggle a proxy server, allowing them to anonymise web browsing or watch foreign internet streaming broadcasts such as Hulu or Netflix US.  However, buried in plain sight in the end user licence agreement (EULA) is a clause giving the program permission to install a Bitcoin miner on the user’s machine.”

http://www.theinquirer.net/inquirer/news/2316375/toolbar-enslaves-pcs-for-bitcoin-mining

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Can We Ever Trust Black Market Websites Again?

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“When you thought that customers were safe from vendors because of the review and escrow system, and vendors were safe from the authorities because of all the technical efforts made by the market site owners (and lack of mistakes, unlike the Silk Road owner) to ensure everyone’s anonymity, making the whole thing a great place to engage in illegal activities, turns out there’s a new problem in town: market sites scamming vendors and customers alike.  Atlantis was the first to go, taking everyone’s money. Then one of the markets that popped up after SR went down and was gaining popularity also shut down, also taking everyone’s money with it.”

http://www.manuelflara.com/can-we-ever-trust-black-market-websites-again/

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Bitcoin developers offer $10,000 virtual bounty to fix mystery Mac bug

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“Price fluctuations and hackers aren’t the only challenge facing the virtual currency Bitcoin, with developers pooling funds for a virtual bounty offered to anyone who can fix a bug they fear could hemper take up.  Bitcoin developers and their counterparts backing the younger, rival virtual currency Litecoin have thrown together a virtual bounty worth around $10,000 for anyone who can figure out what’s causing a data corruption issue in certain Bitcoin and Litecoin wallets on Macs.  According to Warren Togami, a developer who contributes to both Bitcoin and Litecoin, the unusual step of offering a sizeable bounty has been taken because the bug is considered critical enough to stifle Bitcoin uptake.”

http://www.zdnet.com/bitcoin-developers-offer-10000-virtual-bounty-to-fix-mystery-mac-bug-7000023632/

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As bitcoin booms, so does bitcoin bank robbery

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“Robbing a bank is such a hassle in the real world, with all the complicated logistics of weapons, vaults, dye packs, and getaway cars. It’s a lot more straightforward to rob digital currency exchanges and payment processors. To paraphrase bank robberWillie Sutton, that’s where the bitcoins are.  The huge interest in bitcoin and the concurrent surge in the value of the currency—bitcoin has risen 6,000% versus the US dollar in the last year and 300% just this month—has also created a growing incentive for larcenous hackers.”

http://qz.com/150946/as-bitcoin-booms-so-does-bitcoin-bank-robbery/

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Bitcoin Payment Processor BIPS Attacked, Over $1m Stolen

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“Kris Henriksen, BIPS’ CEO, said most of the missing funds were ‘from the company’s own holdings’. The heist, however, was apparently not due to any vulnerability in the code itself.  The Copenhagen, Denmark-based company was targeted on 15th November by a massive DDoS attack. Then on 17th November, it was followed up by a subsequent attack that disabled the site and ‘overloaded our managed switches and disconnected the iSCSI connection to the SAN on BIPS servers’.  ‘Regrettably, despite several layers of protection, the attack caused vulnerability to the system, which has then enabled the attacker/s to gain access and compromise several wallets,’ the company said.”

http://www.coindesk.com/bitcoin-payment-processor-bips-attacked-1m-stolen/

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