Cryptocurrency Analysis and News Portal
A former software engineer at Microsoft received a nine-year prison sentence Monday for an elaborate multi-million dollar criminal scheme involving bitcoin and digital gift cards.Ukrainian citizen Volodymyr Kvashuk, 26, was sentenced in the U.S. District Court in Seattle for 18 federal felonies related to his scheme to defraud Microsoft of
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The case should remind members of the cryptocurrency community of the dangers of storing crypto on hot wallets, especially those secured via two-factor authentication methods such as text confirmation. Weakly secured cellular accounts are often an inadequate defense against hackers bent on compromising known crypto holders’ wallets. Source
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The popular personal investing platform did not do enough to help targeted customers, victims claim. Source
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A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies.St. Petersburg’s Petrogradsky District
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On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin (BTC), as a virtual currency, does not enjoy the same property protection as other assets.The case goes back to 2018, when the
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U.S. District Judge Consuelo Marshall has rejected AT&T’s bid to dismiss a lawsuit that alleges the company was negligent for failing to prevent the theft of $1.8 million in crypto from investor Seth Shapiro.In the judge’s order allowing the suit to continue, Shapiro’s claims of negligence, negligent supervision, claims brought
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After almost a month following a massive hack, the Iota Foundation has brought their network back online.The Iota network was relaunched on Tuesday following the Feb. 12 attack on the platform’s Trinity Wallet software. Although the network was shut down that same day to prevent further security breaches, 8.55
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The organization that created the popular JPEG picture format believes blockchain could be used to verify images, as well as flag fakes and image theft.The Joint Photographic Experts Group (JPEG) said blockchain has "great potential" as the basis of a system that would use a combination of encryption, hash signatures
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The U.S. Commodity Futures Trading Commission (CFTC) is suing an alleged Ponzi scammer on claims he and his company raised half a million dollars for cryptocurrency investments, which instead went to personal uses.According to a press release, Breonna Clark, otherwise known as Eliot Clark or Alexander Pak, and his firm
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IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft. IOTA said it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation. The foundation is evaluating an exploit on an
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