Venture capital investors have invested in Bitcoin $50 million and lost a pair of socks

In 2014, the Studio Planet Money venture capitalist Ben Horowitz argued about the fate of Bitcoin with financial columnist Felix Salmona.

Ben Horowitz, invested his time in Facebook and Twitter invested $ 50 million in startups related to Bitcoin. He believed that Bitcoin will change the world and will fully conquer the market of online shopping.

Felix salmon, financial blogger and cryptomathic, held the opposite view. He published an essay called “the Bitcoin bubble that will surely burst.” Horowitz wrote a commentary to the essay in which the author proposed to make a bet on the future of Bitcoin.

The two forces met in the Studio of Planet Money (NPR) and made a bet of five years. The confidence of Ben Horowitz was based on the understanding that Bitcoin is a major technological achievement, due to which people will be cheaper and easier to buy and sell things through the Internet.

According to Ben, how do I shop on the Internet — basically, using credit and debit cards — is a problem for many enterprises whose business is based on such sales. First, enterprises have to pay the companies making the credit card a Commission of about 2.5% of everything they sell. For some companies it very much. In addition, according to Ben, the company issuing credit cards deny some law-abiding customers because they are considered potential fraud.

Felix was skeptical about the success of Bitcoin. In particular, he was troubled by the fact that the number of bitcoins is limited. And it should mean that over time Bitcoin will become more valuable. In other words, deflation is inevitable. The rising price of Bitcoin will make it inconvenient for shopping on the Internet.

Ben and Felix agreed to meet after the survey, which will give Planet Money an independent company to find out whether the Americans Bitcoin for online purchases. If more than 10% of respondents answered in the affirmative — Ben will win, otherwise the winner will be Felix. The stakes in this dispute have become socks from Alpaca wool, which in 2014 could be bought for bitcoins.

Planet Money recently announced the winner. According to the results of an independent survey among 900 Americans, only 3% of respondents have used the cryptocurrency for payment of online purchases in the last month. Felix salmon won the dispute and a pair of lovely socks.

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Cryptocurrency exchange Coinnest by mistake gave the clients crypts for $5 million

Cliché — an auction of unprecedented generosity — perhaps when the reg is so appropriate. The crypto currency exchange Coinnest instead of airdrop WGT tokens by mistake gave the users bitcoins and other coins, as well as Korean won in excess of $ 5 million, and is now trying to recover the funds.

How should We Game the Token is not known — in the ranking Coinmarketcap it is not. For what amount he was going to give Coinnest, we don’t know, but obviously not on $ 5.3 million In any case, it was about a fairly ordinary event for the exchange and its customers, which, however, was unforgettable for all participants.

The total value of the distributed assets amounted to about 6 billion Korean won — part of the sum in the result of a server failure, the clients of the exchange, by the way, I immediately got in won. However, other members of airdrop was more fortunate — instead of tokens WGT they got more expensive cryptocurrency, including bitcoin.

The server problem was resolved on January 19, the company continues attempts to return the funds, and encourages users to understand. In particular, the exchange managed to return half of the funds in won, however, with the crypt, the situation is worse. Exchange blocked the withdrawal within half an hour after the failed, and did not restore it until now, but it was not fast enough.

Many of the traders who received bitcoins is obviously an inexpensive tokens, hastened to take advantage of this gift by selling them. Instant reset bitcoin even cause his fall rate to $ 50, that raises questions is already to the exchange.

If the sale of bitcoins in the amount of significantly less than $ 5 million (after all of the money was issued in won and other currencies, and it is unlikely every one of the recipients of Bitcoin rushed to sell it, seeing such a drop in prices) has fallen off the rate to $ 50, what exchange liquidity?

Coinnest a year ago was named one of the five largest South Korean kryptomere and took a seat in the middle of the first hundred of the largest in terms of turnover. Given the suspicion of inflated trading volumes on the South Korean stock exchanges, which in the case of Komid resulted in charges, and then the prison term its CEO and his subordinate, the results kind of stress test of liquidity at least make you think.

The situation is compounded by the fact that SEO Coinnest has experience with law enforcement on a specific topic — however, in his case, talking about the inflated volume of trading was not. He was arrested and held in investigation into alleged misappropriation of client funds and receiving bribes for the listing of the token.

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In Norway, the kidnapped wife of a millionaire: Criminals need 9 million euros in Monero

In Norway amiss. According to local police, 68-year-old millionaire’s wife Anna Elizabeth Falkevik had been missing since October 31. Her husband, Tom Hagen takes 172 place in the list of the richest people in the country. On the part of the kidnappers Hagen has already received several threats and letters demanding to pay 9 million euros in coins with Monero.

Cryptocurrency in exchange for life

Anna Elizabeth Valkevich was abducted ten weeks ago from a private bath. In her house the police found no signs of forced entry, but the theft proof was. Tom Hagen came home on 31 October and found a letter with a ransom demand — Monero in the equivalent of 9 million euros. The text was written in Norwegian with errors. The attackers threatened to kill the victim if Hagen draws on the case the police.

Since the abduction of Anna-Elisabeth Falkevik could not hear anything. Detectives tend to the version that the criminals had attracted quite a large as Hagen in the amount of $ 200 million. The businessman is engaged in property investment and owns 70% of shares in major energy companies in Norway Elkraft.

Local police recruited by the Interpol and Europol. News of Norway notified about the incident and asked the citizens to provide any information which though somehow will help law enforcement agencies in search of the kidnapped.

“Our goal is to find the woman alive and reunite her with her family. Serious crimes time is a critical factor. We depend on clues that may lead us to Anna Elizabeth Falkevik.”

According to news edition VG.no, the Hagen family may be involved in high-profile cases and conflicts that are associated with the loss of Falkevik. Last fall, Tom Hagen was involved in a trial of the firm’s Financial Funds as its co-founder. However, the police never found between these cases there is no connection.

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A Harvard student hacked into the phones of businessmen from the Silicon valley and stole $1 million in cryptocurrencies

According to local media, a resident of Manhattan Nicholas Traglia allegedly stole $ 1 million in cryptocurrencies at the head of a company in Silicon valley, cracking his phone.

The young man (21), which, according to his account in Facebook, studying at Harvard University, charged with 21 serious criminal offence. November 14, Federal agents arrested Truglio in his apartment in new York.

According to the investigation, Troglio managed to hack the phones of six of the victims, but to steal the funds he managed only one of them, the CEO of Silicon valley Robert Ross. Truglia used the scheme a SIM swap. In this scheme, the hacker calls the mobile provider intended victim and claims to have lost or damaged your SIM card, and then transfers the telephone number of the victim on his phone. After that, he gets access to the phone data of the victim.

During a search Truglio agents found the hardware wallet, so was able to return $ 300,000 of the stolen funds. The accused, allegedly, October 26, withdrew $ 1 million from two accounts Ross on Coinbase and Gemini (what the cryptocurrency, not reported).

Truglio accused of theft in especially large sizes, change computer data to commit fraud and unauthorised use of personal data. He will have a deportation in Santa Clara, California, where charges will be filed.

Interestingly, in September of this year, Truglia accused the campaign of his “friends” that they broke into his apartment and torture forced the young man to tell them the details of his cryptocurrency account.

One of them, twenty-five year old Stephen Orso, allegedly demanded Truglio “tell him the credentials of his cryptocurrency accounts; he plunged the head of the victim in a tub of water, hit in the stomach with the legs and drip on his hot wax”, is told in the materials of the case.

The incident happened on September 7th this year. Orso, the son of a wealthy venture capitalist, and his three friends — David Lake, Steven Dorn and Chris David — after which lasted all night party accompanied by his friend, Truglio in his apartment in the skyscraper. It is reported that, Truglia, like his friends, was very drunk.

Lawyer friends Truglio Stacey Richman said that Truglia invented this story to cover up her own theft. According to her, she gave the Prosecutor an audiotape on which, Treglia admits that he lied.

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Anonymous bought a million litecoin. Now he owns the biggest LTC wallet

Last week, the Litecoin system has processed one of the largest transactions in its history. Someone bought 1.15 million coins LTC totaling $ 61 million. It is noteworthy, that the fee for the group transaction was only 50 cents

Looks like the funds have been reallocated from several outdated addresses to a new address with multipoles Segwit. Now it is the largest number of litecoin. The most money in the previous address reset, indicating the same owner.

As they say on AMBCrypto, transfer of legacy addresses were made in multiple transactions 20 thousand LTC. At least four of them had the remains of more than 150 thousand coins. Data about the owner of the wallets are missing. It is also unknown whether address one person or group of persons.

What are the advantages SegWit?

A deprecated address different from SegWit addresses of the transaction speed and security. Operations inside SegWit have lower Commission. The innovation allows for a “group” of transactions, which saves time.

Also worth noting is a new opportunity to change the unique identifier of the transaction in advance of confirmation. This allows users to mask the transaction, even if all prerequisites are met.

Recently appeared information about the upcoming update Litecoin Core 0.17, after which a Commission within the network of Litecoin was to fall ten times.

Today Litecoin is trading at $ 51. The capitalization of the coins exceeds $ 3 billion and a daily turnover of 375 million.

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Bitmain has lost $ 5.5 million because of an unknown hacker. Company sues

In addition to the difficult financial situation, Bitmain also has serious problems with hackers. Recently in the district court for the Western district of Washington there was a lawsuit in the case of an anonymous hacker who stole $ 5.5 million from the wallets mining giant. A situation occurred in April, but the official document representatives of the company filled in only recently.

Bitmain against hackers

As stated in the document, an unknown hacker under the name John Doe was able to obtain control over the company’s account on Binance. Bitcoins to wallet, Bitmain the offender used to manipulate the price Aldona Decentraland (MANA). After a few successful transactions anonymous brought their “profits”.

Lawyers Bitmain declare that the loss of the company “has exceeded 5.5 million dollars in Bitcoin and other digital assets.” According to them, crook “managed to steal almost 617 BTC”. The incident happened on April 22, the day the price of Bitcoin was $ 8935$ .

Part of the circuit the hacker is also listed in the lawsuit. The prosecution argues that the offender used two accounts of the exchange on Binance and two accounts on Bittrex (there were also 2.3 million coins MANA). Then John Doe manipulated the price Aldona placing buy orders “significantly above the market price”.

In other words, Doe inflated the local bubble, with the price of the asset. After other bidders have begun to act in their interests, the hacker leaked the unsuspecting traders a couple million MANA. For this price Aldona plummeted, and he got the opportunity to take the stolen cryptocurrency from the exchange to your wallet.

According to Cointelegraph, the damage from the hacking of exchanges in the first nine months of 2018, 2.5 times the statistics of 2017.

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Hackers managed to hack another cryptocurrency exchange and steal $ 59 million

Cointelegraph Japan reported that an unknown group of hackers managed to crack one of the Japanese cryptocurrency exchanges and steal cryptocurrencies in the amount of 59 million.

According to local media, the incident in which hackers managed to steal 6.7 billion yen occurred on September 14. With hot wallets of users were stolen 4.5 billion yen, and purses of the company was stolen 2.2 billion yen. All the attackers managed to steal about 59,7 million dollars.

Tech Bureau Inc., which is upravlaushiy company hacked cryptocurrency exchange Zaif, said in a press release that on September 17, there was a bug server, and then Zaif has suspended withdrawals and deposits. September 18, the exchange realized that it was hacking and reported the incident to the Japanese regulator, the financial services Agency (FSA). Hackers managed to steal 5.966 bitcoins (BTC) and (BCH) and MonaCoin (MONA).

According to the Tech Bureau Inc, firm Fisco Digital Asset Group will help Zaif to cover the stolen assets of clients, providing 5 billion yen (44.5 million USD). Tech Bureau entered into an agreement with Fisco the dismissal of more than half Directors and corporate auditors, Fisco will also become the majority shareholder in the company.

According to CoinMarketCap, the exchange Zaif is on 101st place in the ranking of cryptocurrency exchanges by trading volume.

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The Korean investor has exchanged their bitcoins, worth 2.3 million euros on a pile of counterfeit bills

The hapless investor from South Korea turned out to be a victim of fraud. Reportedly, the victim during the transaction exchanged their bitcoins, worth 2.3 million euros in counterfeit cash. The deception was discovered immediately, but only after the victim was found in a pile of fake banknotes new banknotes of 500 euros.

The fact that the 500 Euro banknote is quite difficult to find in our time on-site Ersouza. From 2016, the bill was gradually withdrawn from circulation by decree of the European Central Bank and replaced videosevennine €100 and €20. The abolition of the biggest Euro banknotes explained by the fight against the financing of terrorist activities and illegal employment.

As shown by the described case, such action was not taken in vain. The South Korean investor, whose name has been kept secret, met with the citizen of Serbia in July this year to sell their bitcoins. The meeting was held at the hotel in nice, France. As soon as the man found a fresh print on the printer 500-Ki, he immediately informed the police about the incident. Soon the Serbian scammer has been arrested in Cannes, where he lived in a luxury hotel. At the time of arrest on the man’s hand flashed a new watch, worth € 100,000.

Apparently, these two meetings discussed a potential investment in a company, so the crook and managed to get the deal done with fake money. Serb accused of fraud and involvement in organized criminal networks, said attorney Gerard pod.

The moral of the story is the fraud of Fiat money has reached colossal proportions. Blame the ongoing issue of new banknotes. In developing countries this problem is even more acute, because counterfeit operations are controlled by hostile governments to destabilize the economy.

This is another reason for the popularity of cryptocurrency. You cannot copy a Bitcoin. A network of thousands of nodes checks for each transaction, so fake tokens no chance to exist.

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Moscow mining-the hotel was given the farm of the client, cost 1.4 million rubles

On August 15 the Department of internal Affairs “Yakimanka” asked a resident of Moscow, a statement about misappropriation of his property by employees of the management company. According to available information, staff mining-the hotel has expropriated the tenant capacity owned computer equipment for mining cryptocurrency.

According to the victim, he found that on the street Serafimovicha, d. 2, employees of the management company misappropriated its mining equipment, which was in rented premises.

The victim was estimated to have suffered any damage in 1.4 million rubles. The police has started investigation of the incident.

Two months ago there were at least a loud crime. 25-the summer inhabitant of Moscow has filed a complaint with the police alleging that the fraudsters under the pretext of facilitating the sale of bitcoins, deceived him and fled with the cryptocurrency amounting to 45.3 million rubles.

As a result, police detained 27-the summer inhabitant of the Moscow region town of Korolev, an employee of the LLC “Center Med Group”. It is known that criminal case under article “Fraud committed in especially large size”.

Earlier, in Moscow, was detained a gang of robbers, specializing in the theft of mining equipment. It is known that the criminals saw the announcement of 21-year-old Alexander of selling the farm for mining up to 2 million rubles. Posing as buyers, scammers have set up a meeting for the transaction. At gunpoint, the bandits took from the seller the equipment and fled the scene. Robbers managed to be detained, now in operational service carry out investigative activities.

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UK: the damage from the activities of the crypto scams in the summer of 2018, amounted to 2.5 million dollars

British police said that as a result of fraudulent acts associated with cryptocurrencies, the loss amounted to about 2 million pounds (2.5 million dollars).

In a statement to the police statistics, prepared by the National centre for combating fraud and cybercrime, according to which only in June and July of fraud victims lost $ 2.5 million. The average loss was about 10 thousand pounds (12 thousand 700 U.S. dollars) per person. Director of the Department for the fight against fraud Pauline Smith commented on this:

For anyone who is investing or thinking of investing in cryptocurrencies is extremely important to carefully research the company they plan to invest. Statistics show that the crooks are using this market, offering investment in cryptocurrencies in combination with a variety of fraudulent schemes.

Typically, scammers promise a quick buck on the trading and mining. But once the victim makes the initial payment, the scammers convince them to invest more to get more profit.

In order to combat fraudulent activities associated with cryptocurrencies, Academy of economic crime city of London (ECA) has developed a one day course “Cryptocurrencies for Investigators” to teach officers the basics of cryptography and to give basic knowledge in the field of cryptocurrency.

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