“Avoid Bitcoin like a plague.” Micheal O’Leary — the CEO of major budget airline Ryanair — has come out very bearish on Bitcoin (BTC). Recently speaking to The Times, O’Leary likened Bitcoin to a Ponzi scheme and advised investors to avoid it: “I have never, and would never, invest one cent in Bitcoin, which I…
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A man hired to fix a business’s IT systems for $1,700 was jailed for 20 months after stealing $38,000 of cryptocurrency he found while in the company network. An IT specialist was jailed for 20 months at Liverpool Crown Court on June 11, after stealing cryptocurrency worth over £30,000 ($38,000). According to the St Helens…
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On average, ransoms demanded by cryptocurrency ransomware hackers increased by 200% from 2018 to 2019. On average, the ransom demanded by cryptocurrency ransomware hackers increased by 200% from 2018 to 2019. According to a report published on June 5 by cybersecurity firm Crypsis Group, the average ransom demanded by cryptocurrency ransomware groups in 2019 reached…
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Sydney police have arrested an Australian woman for allegedly running a crime syndicate using Bitcoin to launder $3.23 million since 2017. An Australian woman was arrested by police at a Sydney shopping centre on May 1, after allegedly selling Bitcoin (BTC) for 60,000 Australian dollars ($38,800) in cash. According to a report from Daily Mail…
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The victims of an alleged $35 million crypto Ponzi are suing Wells Fargo for failing to enforce reporting requirements on an employee accused of co-masterminding the scam. Q3 Investment Recovery Vehicle (Q3IRV), an entity representing the more than 100 victims of the alleged $35 million Q3 Ponzi scheme, has filed a class-action lawsuit against Wells…
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A whistleblower has revealed a $70 million Bitcoin scam targeting British and Australian investors through fake news stories on Facebook. A whistleblower has revealed the existence of a 200-employee Ukrainian Bitcoin (BTC) trading scam that netted $70 million in 2019. The whistleblower outed the scam by providing footage and internal company documents to Swedish newspaper…
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An Australian minister has slammed the government for failing to prioritize ransomware amid increasing attacks. On Feb. 24, Tim Watts, Australia’s Shadow Assistant Minister for Cybersecurity, has published an article in the Financial Review on Feb. 24, criticizing the country’s government for its response to the 2019 “ransomware epidemic.” Watts states that Australia was not…
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How is the FATF’s AML guidance being implemented around the world, and what is its impact on the crypto industry? It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector. With the year-long adoption deadline fast approaching, how have the world’s…
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The senior adviser to Silk Road operator Ross Ulbricht had pled guilty to one count of conspiracy to distribute narcotics in a Manhattan Federal Court. A senior adviser to the operator of the Silk Road dark web marketplace has pled guilty to one count of conspiracy to distribute narcotics in a Manhattan federal court. According…
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One of the addresses involved in last week’s theft from South Korean crypto exchange Upbit has successfully moved 10,000 Ether (~$1.5 million) to an unknown wallet. One of the addresses involved in last week’s theft from South Korean crypto exchange Upbit is moving millions of dollars worth of stolen Ether (ETH) to an unknown wallet.…
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