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A ransomware attack is holding Baltimore's networks hostage
A ransomware attack brought Baltimore city government's computers to a halt yesterday. The hackers are reportedly holding the city's files hostage, demanding up to 13 Bitcoins (about $76,280) to free the city's systems. As of this afternoon, the city has quarantined the ransomware, the Baltimore Sun reports. But, in a press conference, the city said it is not sure when all of the systems will be functioning again.
Hackers stole $40 million from a major Bitcoin exchange
Binance, one of the world's largest cryptocurrency exchanges, announced that it lost $40 million (7,000 Bitcoins) in a "large scale security breach." The company said that hackers accessed a hot wallet that contained about two percent of its total BTC holdings. They used phishing and viruses to obtain user data and managed to bypass security checks, preventing Binance from blocking the transaction. The company said that "no user funds will be affected," as has an emergency fund that will cover the incident "in full."
E*Trade may offer trading for Bitcoin and Ethereum
Cryptocurrency traders might soon have an important ally. A Bloomberg source claims E*Trade is in the midst of work to enable trading cryptocurrencies, starting with Bitcoin and Ethereum. It would think about adding other currencies going forward, according to the tipster. It's not certain exactly when trading would open.
Cryptocurrency exchange accused of covering up $850 million loss
In the evolving story of a so-called "stablecoin" the office of New York Attorney General Letitia James accused iFinex Inc. -- operator of the Bitfinex exchange and the Tether cryptocurrency -- of trying to cover up "the apparent loss of $850 million dollars of co-mingled client and corporate funds." While researchers have tied Tether transactions to the spike in Bitcoin value that occurred between March 2017 and March 2018, this issue of the missing money is allegedly tied to a transfer of $850 million in funds to Crypto Capital Corp., a payment processor based in Panama.
iFixit pulls its Galaxy Fold teardown at Samsung's request
The Galaxy Fold won't make its planned launch date as Samsung looks into problems experienced by several reviewers with test units. In the meantime, the folks at iFixit did what they do best and pulled one apart, but on Thursday explained their choice to "withdraw" the teardown. While iFixit usually gets a device specifically for the purpose of pulling it apart, this one was apparently provided by a third party. Samsung then asked that "trusted partner" to have the teardown removed and iFixit -- while insisting it didn't have to -- acquiesced to keep the peace. iFixit called the device it undid "alarmingly fragile," but also noted in today's post that "Our team appreciated the chance to look inside this ambitious device. All new products face challenges—this one perhaps more than most." We still don't know exactly what Samsung might tweak before the Galaxy Fold is rescheduled for a proper retail launch, but it's possibly that the company doesn't want to expose problems, or any secrets before the thing is actually on sale. Either way, the teardown is out there now, and preserved in the Internet Archive if someone really wants to what a Fold test unit has inside and, perhaps more importantly, what it might lack in protection that would allow debris inside.
Silk Road 2 founder sentenced five years after the site was shut down
It's been nearly five years since the feds shut down Silk Road 2. But its founder is only now being sentenced to prison. According to Motherboard, Thomas White, also known as Dread Pirate Roberts 2 (DPR2) plead guilty to drug trafficking, money laundering and making indecent images of children. Now he faces five years and four months in prison.
China wants to ban Bitcoin mining because it 'seriously wasted resources'
As China tries to cut back on air pollution that has choked cities like Baoding and Shanghai, it's taking aim at cryptocurrency mining. The National Development and Reform Commission (NDRC), the country's chief planning regulator, has unveiled a paper with a proposal to ban Bitcoin mining, saying it has "seriously wasted resources."
Square will offer its new crypto employees payment in Bitcoin
Payments startup Square is turning its attention to cryptocurrency. According to tweets from CEO Jack Dorsey, the company is hiring engineers and a designer to "work full-time on open source contributions to the bitcoin/crypto ecosystem."
Mt. Gox CEO Mark Karpeles cleared of embezzlement charges
Former Mt. Gox chief Mark Karpeles has been found guilty of falsifying financial records but acquitted of all other charges, including embezzlement. According to Bloomberg, the court has given him a two-and-a-half year suspended sentence, which means he won't have to serve jail time unless he commits another violation within the next four years. Tokyo-based Mt. Gox used to be the biggest cryptocurrency exchange in the world until it lost $500 million worth of bitcoin in 2014 to a cyber heist.
QuadrigaCX's missing millions is the messiest Bitcoin saga yet
If there's one thing the internet excels at, it's helping people forget the rules of Occam's razor. For many, there are usually no simple explanations for anything, and everything is a signpost to a grand conspiracy to do others harm. In the wake of one man's death, people on the internet have indulged their worst instincts, although what's worse is that this time, they might have a point. QuadrigaCX was one of Canada's largest Bitcoin exchanges, controlling assets believed to be worth around $200 million CAD. Unfortunately, Gerald Cotten, its co-founder and CEO, passed away in December 2018. Cotten was the only one who could access the company funds, leaving it unable to pay its creditors.
HTC's blockchain phone can now be bought with real money
HTC is taking its blockchain phone a little more mainstream. Today, the company has announced that the Exodus 1 can be purchased for 750 US dollars. That's right, traditional money. The kind that can be used in any store across the United States. Until now, the beleaguered phone manufacturer has only accepted Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as tender. Presumably, that was a choice (and not just a lame marketing stunt) to ensure early adopters were open-minded crypto enthusiasts. In addition to USD, the company is adding the Ethereum-powered Binance Coin (BNB) as a way to acquire the niche handset.
Samsung Galaxy S10 leak hints at cryptocurrency wallet
Samsung' Galaxy S10 appears to have leaked again, but this time the big deal is what's on screen. Gregory Blake and Ben Geskin claim to have leaked images of a Samsung Blockchain KeyStore that would serve as a cryptocurrency wallet, whether you're bringing over an existing wallet or starting fresh. The imagery only shows it supporting Ethereum, but SamMobile noted that its sources also anticipated support for Bitcoin, Bitcoin Cash and ERC20.
Bitcoin's terrible 2018 doesn't bode well for the future of crypto
If someone approaches you saying that they have a way to get rich, quick, without any effort, then they're scamming you. If you don't believe me, then ask yourself this: If someone gave you a winning lottery ticket, would you hand it over to someone on the street? People get itchy when it comes to paying their taxes, let alone handing out bagfuls of cash on the sidewalk.
Ohio is the first state to accept bitcoin for paying business taxes
There's a lot of legal uncertainty in the US surrounding cryptocurrency, but Ohio is pressing forward. As of this week, it'll be the first state to accept bitcoin for paying tax bills. The Wall Street Journal notes this will be limited to businesses purposes and isn't going directly into Ohio's coffers (an Atlanta firm, BitPay, converts the virtual cash to dollars first). However, it could still be much more convenient for shops that take bitcoin and would rather not exchange the format just to cover their sales tax payments.
Bitcoin plummets to its lowest value in over a year
Bitcoin has plummeted to below $5,000, its lowest value in over a year, amid drops for the world's leading cryptocurrencies. Its value currently stands at $4,463 (as of 04:32AM ET), while its losses for the past week now total 16 percent and more than 65 percent for the year, according to CoinDesk.
Hublot's $25,000 watch can only be purchased with Bitcoin
Hublot has launched a new luxury watch under its Big Bang line that's not quite like any of its other models. You can't pay for it with cash or even an AMEX Black Card -- you can only purchase it online using Bitcoin. It's called the Meca-10 P2P, and it was designed for the cryptocurrency's 10th year anniversary. In fact, Hublot will engrave the unique Bitcoin transaction number you used to pay for the device on the edge of its bezel before shipping it. According to Bloomberg, one Meca-10 P2P will set you back around $25,000, based on the current Bitcoin value.
Winklevoss twins claim cryptocurrency guru stole 5,000 bitcoins
The Winkevoss twins are back in the news for their involvement in the cryptocurrency world, but this time they likely wouldn't want to celebrate. The New York Times has learned that the two sued crypto investor and ex-convict Charlie Shrem for allegedly stealing 5,000 bitcoins in 2012 -- no small amount when they'd be worth roughly $32 million today. The Winklevoss Capital Fund sent Shrem $250,000 in 2012 to buy bitcoins on its behalf, but delivered $189,000 worth based on the price at the time. The figure was lost in a larger dispute over an investment in Shrem's BitInstant, but it's clearly more important now.
HTC's blockchain phone can only be bought with cryptocurrency
If the idea of a HTC blockchain phone drives you wild, we've got good news: the "Exodus 1" is now available to pre-order -- it ships in December. But you can only buy it online for 0.15 bitcoins or 4.78 ether tokens, or roughly $960. (Not exactly cheap for an extremely niche device.)
Fake Flash updates upgrade software, but install crypto-mining malware
According to cybersecurity firm Palo Alto Networks, it discovered a fake Flash updater that has been duping conscientious computer users since August. The fake updater installs files to sneak a cryptocurrency mining bot called XMRig, which mines for Monero. But here's the catch, while the fake updater is installing the XMRig malware, it's also updating the user's Flash.
The weird, wild and expensive world of blockchain art
Is it still shocking in 2018 to see someone drop more than $50,000 on a digital playing card? Well, that's what happened when Gods Unchained, a blockchain-based digital card game, wrapped an auction on its rarest card to date: the Hyperion Mythic card. It sold for 146.279 ETH, which was worth about $54,000 at the time. If that doesn't shock you, how about the fact that a digital trading card of Elon Musk is currently on auction for about the same price?
