Re: Bitcoin news

It really is a very bad look for the cryptocurrency industry.
When was the last time we heard about a forex broker being hacked, let alone a bank?

Auscoin website taken down after executive’s arrest

This is the same turkey that was flaunting his cars and taking selfies with tennis players a few weeks ago :?

Auscoin website taken down after executive’s arrest
Visitors to are receiving this error message.

The website of Australian cryptocurrency exchange Auscoin has been taken offline, following the arrest of founder Sam Karagiozis.
In a sign the company is in serious trouble, visitors to are receiving an error message that says “this page isn’t working.” It’s unclear if and when the page will be back up and running.

Micky broke the story about the arrest by Australian Federal Police on Friday, but chose not to identify the suspect for legal reasons. Several mainstream news outlets have since named Karagiozis as the person taken into custody.

The 27 year old, who has the words “self made” tattooed on his fingers, has been charged with trafficking about 30 kilograms of drugs, including cocaine, MDMA and methamphetamine.

Police will allege he played a key role in directing the operations of a criminal syndicate, which used various dark net sites, Bitcoin accounts and legitimate businesses for the sourcing, payment and distribution of illicit drugs.

Auscoin founder Sam Karagiozis

Following the arrest, financial regulator AUSTRAC suspended the registrations of two digital currency exchange businesses he is associated with, one of them being Auscoin.

Several bank accounts, real estate properties, motor vehicles, a motorbike, cash and cryptocurrency, worth more than AU$2M have also been restrained by the AFP, following a court order.

It was only two months ago that Karagiozis was boasting about the success of Auscoin in a struggling cryptocurrency market.

“We currently have 31 Auscoin ATMs in Australia … and our turnover is $500,000 a week, which is just insane considering how much the price of Bitcoin has dropped,” Karagiozis told the Daily Mail.

According to The Age, Karagiozis was refused bail in the Melbourne Magistrate’s Court last week.

Source: ... es-arrest/
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Re: Bitcoin News & Discussion

he Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA) are considering new rules for the crypto trading platforms in the country in the aftermath of the scandal around Quadriga CX, which deprived investors of about 135,000,000 USD in crypto assets, reports Reuters.

The plan involves setting tailored regulatory requirements to address the “novel features and risks” associated with the crypto exchange platforms.

“We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while maintaining investor protection,” Andrew Kriegler IIROC CEO said in a statement.

Re: Bitcoin News & Discussion

momo3HC wrote:
Sun Apr 07, 2019 8:07 pm
Nobody...? Nothing...?
what investments with bitcoin?? trading?? yeah......... all the hodlers think its gonna shoot up 2 the sky now but we will see if it breaks 5k for good.........
crypto still sux tho & scams & hacking are everywhere :thumbdown:
Contribution Inspector & GIF Animator at your service

John McAfee Vows to Unmask Bitcoin’s Satoshi Nakamoto

This guy. He scams us with his anti-virus software now he claims to know who made Bitcoin! :lol:

John McAfee Vows to Unmask Bitcoin’s Satoshi Nakamoto


  • McAfee says the Bitcoin creator is alive and residing in U.S.
  • ‘Finding Satoshi was a piece of cake,’ software pioneer says

John McAfee, the eccentric antivirus pioneer known for his brushes with the law, said he has spoken with Bitcoin creator Satoshi Nakamoto and plans to reveal the person’s identity.

But the timing of the announcement is up in the air. After previously telling Bloomberg he would expose Nakamoto “within a week,” he backed off the plan. McAfee said Tuesday on Twitter the controversy could hurt his efforts to fight an extradition to the U.S.

The background of Nakamoto -- a pseudonym that is thought to refer to a person or group of people -- has been fiercely debated for years, with a long list of discredited theories fueling suspicion Bitcoin’s pioneer is probably dead. In recent days, McAfee has said that Nakamoto is a man living in the U.S.

“I’ve spoken with him, and he is not a happy camper about my attempt to out him,” McAfee said in a phone interview from the Bahamas.

McAfee’s antics and erratic behavior have overshadowed his past as a software pioneer, and it’s hard to know whether he’s finally tracked down the real Nakamoto -- a feat that many others have failed to pull off.

‘People Forget’

But McAfee said in the interview that he has spent a lifetime pursuing hackers, making him well-suited to this task.

“People forget that I am a technologist,” he said. “I am one of the best.”

In delaying the revelation, McAfee posted a letter from Mario Gray, his extradition lawyer, saying that exposing Nakamoto could make him the target of lawsuits -- forcing him to defend himself “on many fronts.”

“Releasing the identity of Satoshi at this time could influence the trial and risk my extradition,” he said in a tweet. “I cannot risk that. I’ll wait.”

The entrepreneur founded McAfee Associates in 1987, though the company has since passed through several hands. He was a person of interest in a murder in Belize, after which he returned to the U.S. In recent years, McAfee has been investing in digital coins, as well as promoting them -- for a fee -- in his own Twitter feed. He also is running for U.S. president.

If Nakamoto is indeed alive, that could throw a wrench into Bitcoin trading. Nakamoto -- possibly along with fellow pioneers of the crypto currency -- is believed to be one of the largest holders of Bitcoins. He may possess nearly 1 million of them, a huge chunk when you consider that entire circulating supply is about 17.6 million coins. The stake would be worth $5.6 billion at current prices.

Because these coins haven’t been moved in 10 years, most people have presumed Nakamoto was dead -- a theory supported by a lawsuit filed by the estate of a Florida man that claims he helped invent Bitcoin.

Pressure on Prices

Nakamoto wrote the white paper outlining Bitcoin in 2008, and then worked with a group of people to develop the currency, which debuted the following year, McAfee said.

If Nakamoto isn’t dead, then these coins could potentially enter the market. And their sale would put pressure on Bitcoin prices. Every time a trustee of the now-defunct exchange Mt. Gox sold Bitcoins to pay back creditors, the currency’s price dipped sharply.

Theories about Nakamoto have circulated for years. The New York Times and New Yorker have both tried to find the person or people behind the pseudonym. In a 2014 cover story, Newsweek identified the real Nakamoto as a California physicist, who denied the report. In a 2016 blog post and interviews with three media outlets, Australian entrepreneur Craig Wright had said that he is Nakamoto.

Dorian S. Nakamoto, identified by Newsweek magazine as the founder of Bitcoin

McAfee’s threat to out Nakamoto was prompted in part by a recent libel lawsuit that Wright filed against a podcaster who questioned if Wright is Nakamoto. Wright isn’t the man he found and spoke to, McAfee told Bloomberg.

“My entire life I’ve been tracking people who are the best in the world, and hiding their identity,” he said in the interview. “Finding Satoshi was a piece of cake for me.”

Source: ... ithin-days
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Binance hacked $40 million lost

With hacks like these it's a wonder why people invest in Crypto :thumbdown:

Binance says more than $40 million in bitcoin stolen in ‘large scale’ hack


Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world’s largest by volume, the startup reported Tuesday.

Binance announced that a “large scale security breach” was discovered earlier on May 7, finding that malicious actors were able to access user API keys, two-factor authentication codes and “potentially other info,” the exchange’s CEO, Changpeng Zhao, said in a letter. As a result, they were able to withdraw roughly $41 million in bitcoin from the exchange, according to a transaction published in the security notice.

The disclosure comes hours after Zhao tweeted that the exchange was undertaking “some unscheduled server maintenance,” writing that “funds are #safu.” After the disclosure announcement, Zhao tweeted that the exchange would “provide a more detailed update shortly.”

The exchange may not yet have identified all impacted accounts, he said. And according to Binance’s statement, the breach only impacted Binance’s hot wallet, which contains roughly 2 percent of the exchange’s total bitcoin holdings.

“All of our other wallets are secure and unharmed,” he said, adding:

“The hackers had the patience to wait, and execute well-prepared actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed.”

The withdrawal triggered internal alarms after it was executed, and Zhao said the exchange froze withdrawals following the discovery. While deposits and withdrawals will remain suspended for the next week, trading will be re-enabled, though he cautioned that “the hackers may still control certain user accounts.”

Binance will conduct “a thorough security review” encompassing its systems and data during the next week.

The exchange will use its Secure Asset Fund for Users (SAFU fund) to cover the loss, which won’t impact users, according to the notice.

The fund consists of 10 percent of all trading fees absorbed by the exchange, and was initially launched to protect Binance’s users “in extreme cases,” according to a previous notice. It is stored in its own cold wallet.

“In this difficult time, we strive to maintain transparency and would be appreciative of your support,” Zhao said Tuesday.

He concluded the note by saying he would participate in a previously scheduled Twitter “ask-me-anything.”

Markets react

Prices have so far responded with bitcoin, the world’s premier cryptocurrency, dropping $290 alongside most other cryptocurrencies, which are down between 1-10 percent at press time.


Litecoin and ether both experienced between 4-6 percent losses while bitcoin managed to resume in the green, thanks largely to its bullish rally yesterday that saw prices reach as high as $5,972 on the Coinbase exchange.

Binance’s native crypto, Binance Coin (BNB), is also down 8.05 percent and unable to escape the controversy from today’s news.

Source: ... ge-binance
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Re: Bitcoin News & Discussion

So last week, when Bitcoin dropped sharply and we were wondering why (or at least I was) - that was caused by a court decision.

The Supreme Court of New York decision to ordered Tether to stop loaning money to Bitfinex caused Bitocin to lose 15% of its value in just 15 minutes to 6600 USD, before it recovered to just over 7000 USD.

The flash crash started with a major sell order on Bitstamp. Between 3:45 GMT and 4:15 GMT more then 5000 bitcoins changed hands, with the price dropping to 6178 USD, for a few minutes, down from 7700 USD.

Currently both Bitfinex and its sister company Tether are under investigation by the New York Attorney General.

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