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Cryptocurrency

Moderators: mntiwana, mrtools

Re: Cryptocurrency

#121
ChuChu Rocket wrote:
Wed Feb 06, 2019 5:02 pm
Yeah spot on man. Imagine if your bank manager just randomly died and then you couldn't access your funds or even buy groceries because no one else had the password to the system.
Why would people invest or put their money into these Crypto exchanges? To make a few trades and buy goodies off the dark web? Hmm :?
A testament is important, when the boss of a company dies and he is only one who is payment authorized the company is death - and with it his work. This alone makes him a big idiot, but all the others he had responsibility for... I had thought everyone learns the 1x1 of founding a company - especially as a crypto exchange. Unbelievable. All the stories around cryptos, hodlers and crypto exchanges... Einstein was absolutely right when he said the universe is limited, the human stupidity is not.


Re: Cryptocurrency

#122
Cryptocurrencies have their advantages - they're easy to use, they're decentralized, you can use them internationally, transactions are fast, etc.etc.
However, these constant cryptocurrency exchange hacks and incidents like the one above prove that cryptocurrencies aren't ready to replace fiat currencies yet.

Re: Cryptocurrency

#123
A Canadian court gave Quadriga 30 days to repay customers 250 million CAD (190 million USD), after the founder of the biggest Canadian crypto exchange died, leaving no passwords for the digital wallets stored with the exchange.

A Halifax judge ordered a 30 days stay, which will prevent creditors from filling lawsuits against the company.

According to the court files Quadriga owes about 115 000 clients the equivalent of about 250 million Canadian Dollars or roughly 190 million USD. The company has only 30 million USD in bank drafts.

11 Fishy Things About the QuadrigaCX Mystery

#124
mlawson71 wrote:
Fri Feb 08, 2019 1:49 am
after the founder of the biggest Canadian crypto exchange died, leaving no passwords for the digital wallets stored with the exchange.
QuadrigaCX scandal haha what a shit scam. Guy faked his death in India and ran off with everyones chips :lol:

Look at his funny face. What a gimp.

Gerald_Cotten_QuadrigaCX_meme.jpg
Gerald_Cotten_QuadrigaCX_meme.jpg (68.6 KiB) Viewed 123 times

Here's an article too:

11 Fishy Things About the QuadrigaCX Mystery

Ever since Canada-based cryptocurrency exchange QuadrigaCX went dark last week, leaving more than $190 million worth of customer funds unaccounted for, the situation’s seemed a bit…off. How could an exchange responsible for millions of dollars leave its wallets’ access to only one man, a man who was allegedly suffering from Crohn’s disease and required “monoclonal antibody therapy every eighth week“? Even a CEO in perfect health could succumb to accident, or act irresponsibly with a private key.

But that’s just the algae-obscured surface covering this fishy conspiracy-laden pond. The more “facts” that come to light, the fishier it smells.

Of course no one should make light of a man’s death, and the court has appointed “an independent third party” to tie up QuadrigaCX’s loose ends. But a mysterious case where a man leaves $100,000 to his two dogs weeks before he’s reported dead in a foreign country with nearly $200 million worth of other people’s money is just too much for any conspiracy theorist worth their salt to ignore.

QuadrigaCX’s website is gone. In its place is this perplexing letter to customers.

The QuadrigaCX website describes its “liquidity issues” as problems accessing “very significant cryptocurrency reserves held in cold wallets.” Only if you scroll down to the Q&A section do you find that Gerald Cotten “took sole responsibility” for these wallets. This is clearly a high risk move—perhaps the kind that someone would make if they’re planning to eventually sneak away to a foreign country, fake their death, and walk away with numerous cold wallet keys and millions in cryptocurrency.

Never mind, maybe there aren’t any cold wallets for QuadrigaCX.

According to an in-depth report by “ProofofResearch” published on the ZeroNoncense Blog, there are “no identifiable cold wallet reserves for QuadrigaCX.” In fact, it looks as if the exchange was using new customer deposits to pay out other customers asking to withdraw their funds. Sounds like a certain series of failed “businesses” started by everyone’s favorite festival planner.

The amount of bitcoin currently owned by QuadrigaCX is significantly less than what Cotten’s wife reported in an affidavit on January 31.

ZeroNoncense also reports that in an affidavit by Jennifer Robertson, Cotten’s wife of about a month, QuadrigaCX’s balances were: “Bitcoin: 26,488.59834, Bitcoin Cash: 11,378.79082, Bitcoin Cash SV: 11,149.74262, Bitcoin Gold: 35,230.42779, Litecoin: 199,888.408, and Ethereum: 429,966.0131.” Meanwhile, through blockchain analysis, ZeroNoncense found there to be less than 1,000 BTC held by Quadriga, “with 1,000 being a very generous estimate at this point in time.”

You read that right. Cotten only got married about a month before his alleged death.

When he died in India, he was apparently on his honeymoon doing charity work at an orphanage with his wife. David Gerard writes that Cotten and Robertson married in October 2018 and had been together for “a few years” before that. This is clearly a tragic situation—but conspiracy theorists see is as a suspicious move in conjunction with other facts further down on this list.

Robertson may have legally changed her last name in 2016.

If the couple were indeed together for “a few years,” then they were likely a pair when Robertson changed her last name from Griffith, a juicy tidbit Reddit user blue_dodo discovered. Of course it’s possible that there are multiple Jennifer Robertsons in Halifax, Nova Scotia, but only one has recently been involved in multi-million-dollar mystery.

Cotten allegedly died on December 9, but his death wasn’t announced until January.

This detail is really just built for conspiracy theorists to latch onto, as it suggests a window long enough for someone who faked his own death to reinvent himself.

A request for information from the hospital where Cotten allegedly died turned up nothing.


Yes, Fortis Escorts, the hospital in Jaipur, India where Cotten allegedly passed, did confirm his death. Here’s a statement from the funeral home, courtesy of CoinDesk, and here’s a death certificate. However, when BREAKERMAG called Fortis Escorts to request additional details, a receptionist said there was no one available at the department that could answer our questions.

There is a precedent for fake death certificates being issued in India.

Just last month, The Times of India reported that six people were arrested for creating multiple false death certificates for people trying to claim insurance. Similar stories taking place in India abound.

Cotten filed a will less than two weeks before his death.

According to Bloomberg, Cotten signed his last will and testament in late November, leaving everything to his wife, the executor of his estate, and his two beloved chihuahuas, who will inherit $100,000. (So where does that leave conspiracy theorists? Is Cotten his own wife? Is he not a man at all, but just a pair of chihuahuas who somehow managed to legally marry a human woman several months ago? Are these questions any wilder than the actual details of this case?)

Small sums are being removed from the exchange’s Litecoin wallet.

Redditors are very much on the case. User whereMyCryptoAt found several timestamped transactions in which Litecoin funds are trickling out of QuadrigaCX wallets.

QuadrigaCX appears to have been liquidating funds since 2017.

It’s not just these recent Litecoin transactions former QuadrigaCX customers should be worried about. Apparently, the exchange has been playing the liquidation game for the past two years.

Source: https://breakermag.com/11-fishy-things- ... x-mystery/
外国為替ニュースFundamentals! News Coverage

Re: Cryptocurrency

#125
Was a body ever produced by the family after he supposedly passed away? Where do they claim his remains are?
Because this does seem like a scam.


Crypto broker hacked affecting 1.3 mln users

#126
Security Alert: Half A Million Old Coinmama Logins Hacked, No Indication of KYC/AML Breach

  • 450,00 Coinmama login/password pairs found for sale
  • The credentials are old, only prior to 5 Aug, 2017

coinmama-hack.jpeg
coinmama-hack.jpeg (30.82 KiB) Viewed 60 times

The fiat-crypto exchange Coinmama have been hacked, they said in an official post, as roughly 450,000 email-password pairs have been found for sale on the dark web. Critically, the hacked credentials are not from recent accounts - only accounts made prior to 5 August, 2017 have been stolen.

The stolen Coinmama credentials are part of a far larger booty. ZDNet reported on February 14 that a total of 747 million credentials grifted from 24 total entities were up for sale, of which the Coinmama tranche is a tiny fraction.

The entire collection was for sale on the “Dream Market” dark web market for about $15,000. But ZDNet also reported the collection is no longer for sale on the open market, because of buyers’ complaints that the public sale would - ironically - lead to leaks of the stolen goods. Some websites, like Haveibeenpwned.com, index stolen credentials so that users can check if their own credentials are compromised and known to identity thieves.

Coinmama are on guard for “any external indication that the compromised data is being used,” and encourage users with potentially affected accounts to change their passwords as soon as possible.

There was no mention of whether Coinmama users’ personal details were also leaked, in addition to username/password pairs. The exchange requires an extensive amount of Know-Your-Customer/Anti-Money-Laundering information to be submitted, in order to take full advantage of the service, including multiple IDs and even utility bills.

Dark Web Sales
CryptoGlobe recently reported that $600 million worth of bitcoin was used for dark web transactions during 2018, an amount only slightly down since the previous year. An economist at Chainalysis, a blockchain security analytics firm, speculated that increased law enforcement on dark web markets may account for the drop.

Another collection of stolen credentials of similar size was recently put up for sale on the dark web. But there is no immediate indication that the sales are in fact the same collection.

Sources: https://www.btcwires.com/ (image) & https://www.cryptoglobe.com/latest/2019 ... ml-breach/ (article)
外国為替ニュースFundamentals! News Coverage

Re: Cryptocurrency

#128
mlawson71 wrote:
Wed Feb 20, 2019 3:06 am
I've long learned to never use the same password twice.
Smart! I tend to be forgetful. How do you keep tabs on all the passwords? Write them down somewhere?
外国為替ニュースFundamentals! News Coverage

Re: Cryptocurrency

#129
Two pension funds in Virginia, US will take part in a new 40 million USD venture capital fund focused on the crypto market and managed by Morgan Creek Digital.

According to a statement by Morgan Creek Digital other investors in the fund include an insurance company, a university endowment and a private foundation.

Until now many institutional investors avoided the crypto market as a whole, because of the speculations of market manipulations and the general lack of transparency and regulation.

Now the two Virginia pension funds join several other institutions in the US, including Yale University, that invested in digital assets last year.


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