Category: blockchain

FBI and US Marshals warn of heinous scammers demanding payments via Bitcoin ATMs


The United States Marshals and Federal Bureau of Investigation don’t want you to forget about Bitcoin scammers pretending to be people they’re not. According to a tweet from late last week, the US Marshals has updated its warning about cryptocurrency scammers that coerce their victims to send them money through Bitcoin ATMs. UPDATED FRAUD ADVISORY – Spoofers using government phone numbers, government employees’ names,demanding payment via bitcoin ATMs: https://t.co/ZMBG3hNJmj — U.S. Marshals (@USMarshalsHQ) December 6, 2019 In the full update, US Marshals say that scammers call targets and attempt to collect a fine by claiming they have failed to report…

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Nvidia lawyer pushes court to dismiss cryptocurrency mining chip lawsuit


Graphics card manufacturer Nvidia has argued that investors cherry-picked corporate statements while ignoring others that supposedly showed transparency, as a lawsuit over its failing cryptocurrency mining chips intensifies. Nvidia‘s legal counsel also claimed that investors can’t rely on “speculative expectations of third-party analysts” as the basis of their suit, which should be dismissed, Law360 reports. Spurned investors have alleged that Nvidia‘s financial reports misled them into believing that high-demand for its gaming chips was entirely separate from the cryptocurrency boom. Their suit claims the firm had told analysts that most of its cryptocurrency-related sales came from its Crypto SKU, a…

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Moonday Mornings: IRS readies to tax your cryptocurrency — no matter what


Welcome to Monday, it’s the start of another week and that means it’s time for Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines. Take a look. 1. New cryptocurrency tax form from IRS According to CNBC, the US Internal Revenue Service has released a new tax form, asking cryptocurrency traders to declare their holdings. The IRS’ new “Schedule 1 for the 2019 tax season,” asks tax payers if they received, sold, sent, exchanged, or acquired virtual currency by any other means over the past year. Earlier this year, the IRS started sending letters to known cryptocurrency traders…

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Millennials would rather cop Bitcoin than Disney and Netflix stocks


According to a recently published report from investment management firm Charles Schwab, millennials invested more in Bitcoin than they did in the likes of Disney or Netflix over Q3 of this year. The figures come from the quarterly Schwab Report, which benchmarks the activity of retirement plan investors within self-directed brokerage accounts. Schwab’s figures show that millennials (25-39 years old) hold 1.84 percent of their assets in the Grayscale Bitcoin Trust (GBTC). The GBTC is an investment product — from Digital Currency Group — that sells shares in the fund to accredited investors. The fund is managed for investors by…

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Ugandan cryptocurrency startup promises jobs — steals employees’ money instead


A number of Ugandan citizens have been left in the lurch after being promised jobs at a cryptocurrency startup that’s gone dark. Independent Ugandan newspaper Daily Monitor reports that dozens of people in the Masaka District have been fleeced of their own money and employment after falling for the promises of a bogus cryptocurrency business. According to the report, Dunamiscoins Resources Limited opened in Masaka Town last month and began inviting individuals to invest and become part of its “digital currency network.” However, just a month after opening, Dunamiscoins’ offices have reportedly closed down. A businessman who worked next door…

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‘Godman’ fugitive establishes island nation, plans to use crypto instead of fiat


One of India’s self-proclaimed “godmen” has established his own island nation off the coast of Ecuador, and wants to use cryptocurrency as the basis for its economic policy. Nithyananda, a fugitive on the run over allegations of rape and abduction, yesterday announced he’d founded the Republic of Kailaasa — a supposedly sovereign state that would serve as the world’s “greatest and purest Hindu nation,” The Guardian reports. The republic is described as a “nation without borders created by dispossessed Hindus from around the world who lost the right to practice Hinduism authentically in their own countries.” Three prominent personalities from Ahmedabad, the location…

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70 cryptocurrency hedge funds have closed so far this year, investors weary of Bitcoin


If the latest trend continues, it looks like cryptocurrency focused hedge funds could be on the way out. According to specialist researchers, Crypto Fund Research, more than 70 hedge funds specializing in investments into digital asset projects have closed this year, Bloomberg reports. The majority of the closures identified came from North America and Europe, with 28 and 23 respectively. This trend runs contrary to recent research from Fidelity Investments that suggested institutional investments in cryptocurrency were likely to increase over the coming five years. Investors are reportedly nervous about venturing too deep into the cryptocurrency market because of its…

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North Korean hackers may be behind malware distributed by cryptocurrrency trading platform


A new macOS malware packaged by a cryptocurrency trading platform has been uncovered by security researchers. The malware is believed to be the work of notorious North Korean hacking group Lazarus. Security researcher Dinesh Devadoss tweeted their discovery of the malware yesterday. A detailed analysis of the malware can be read here. Another #Lazarus #macOS #trojan md5: 6588d262529dc372c400bef8478c2eechxxps://unioncrypto.vip/ Contains code: Loads Mach-O from memory and execute it / Writes to a file and execute it@patrickwardle @thomasareed pic.twitter.com/Mpru8FHELi — Dinesh_Devadoss (@dineshdina04) December 3, 2019 The malware masquerades as a cryptocurrency arbitrage platform, a service typically used to take advantage of price…

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Drugs hidden in child’s toy lead police to massive $1M cryptocurrency stash


Australian police have reportedly seized a record amount of cryptocurrency after intercepting a drug delivery from the UK. The dodgy drug delivery eventually led police to search a property in Marangaroo, Perth and seize AUD$1,524,102 ($1,022,827) worth of cryptocurrency. Detective Senior Sergeant Paul Matthews, the officer in charge of the drug and firearm squad, said the confiscation is believed to be the biggest single haul obtained by the Western Australia police. A 25-year-old woman and a 27-year-old man have also been arrested in connection to the bust. The assets have been frozen and the pair are due to appear in…

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Danish bank staff banned from buying Bitcoin with their own money — urged to dump holdings


A Danish bank has successfully won a court case that means it can now prevent its staff from buying Bitcoin and other cryptocurrencies. That sounds fine on the surface, but a potential ban doesn’t refer to buying cryptocurrency “on the job,” it extends into employees’ private lives. According to a release made by Danish court yesterday, Nordea Bank is now free to prevent its staff from buying and trading cryptocurrencies in their own time, Bloomberg reports. They are also banned from buying crypto on behalf of others too. How the bank will enforce a ban and what happens if someone…

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