Category: cryptocurrency

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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Bitcoin-hungry hackers ‘target major US data center firm’ with ransomware


A prominent data center provider in the US has reportedly been hit by the Sodinokibi ransomware, which several months ago earned a hacker $287,000 worth of Bitcoin in just three days. According to ZDNet, CyrusOne is working with law enforcement and forensic firms to analyze the attack. The company is also assisting customers to restore the lost data. CyrusOne is yet to disclose the attack. ZDNet reached out to CyrusOne but says a spokesperson was not available for comment at press time. Sodinokibi: What we know Sodinokibi has been doing the rounds in recent months. Back in June, it attacked at least…

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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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Telegram shills refuse to accept OneCoin is a scam as websites go offline


Some of the websites associated with “cryptocurrency” scam OneCoin have been taken offline as legal investigations into the scheme continue. Rumors began mounting last week, and were confirmed not long after, as the OneCoin.eu website was placed in “server hold” on December 1, BehindMLM reports. Yesterday, reports suggested that the OneCoin.eu account was under legal investigation. Earlier today, more websites associated with OneCoin have also gone offline. Both oneacademy.eu and oneworldfoundation.eu are inactive. These websites are also placed in “server hold” status. At the time of writing, another website associated to the scam, Onelife.eu remains active. Towards the end of…

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Ethereum dev to be released pending trial amid claims charges against him are exaggerated


Virgil Griffith, the Ethereum developer arrested last week after allegedly traveling to North Korea to give a talk on cryptocurrency, will be released from prison pending trial after a judge ruled there was enough evidence to move a case against him. At the same time, an Italian man who allegedly attended the same cryptocurrency in North Korea has said the charges against Griffith are exaggerated, CoinDesk reports. As previously reported by Hard Fork, Griffith is accused of breaking the International Emergency Economic Powers Act after he allegedly explained to North Korea how blockchain could be leveraged to evade US sanctions. “The…

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