2017’s Best 5 Bitcoin wallets for your Android mobile device Reviewed

Source From https://99bitcoins.com/best-4-bitcoin-wallets-android-mobile-review/

The post 2017’s Best 5 Bitcoin wallets for your Android mobile device Reviewed appeared first on 99 Bitcoins.

If you’re looking to store your first Bitcoins and you own an Android mobile device this post is for you. However, before I review the best Android Bitcoin wallets out there I just want to give you a word of warning. Mobile wallets (Android, or iOS) are the least secure form of Bitcoin wallets. This […]

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You Betcha Not Petya: New Cyberattack Neither Petya Nor Bitcoin Ransomware

Source From https://cointelegraph.com/news/you-betcha-not-petya-new-cyberattack-neither-petya-nor-bitcoin-ransomware

The virus spreading through the world’s computers demanding Bitcoin this week is not actually ransomware, researchers say.

The cyberattack infecting computers across the world on Tuesday was not ransomware and “not designed to make money,” research suggests.

After malicious software began locking user computers in Russia and Ukraine, then spreading throughout the world, experts initially believed it to be a reincarnation of the Petya ransomware.

However, as more details come to light, it appears the ransomware element – which like WannaCry last month asks users to pay $300 in Bitcoin to regain control – is, in fact, a front.

Analysts are now saying that this attack is a disk-wiping effort masquerading as a WannaCry-style ransomware to generate media hype.

“This is definitely not designed to make money. This is designed to spread fast and cause damage, with a plausibly deniable cover of ‘ransomware,’” a report by Medium researcher “the grugq” published on Wednesday determines.

A look at the Bitcoin wallet shown to victims appears to confirm this, the one address distributed in the attack having accumulated just under 4 BTC ($9,970) since Tuesday from 45 transactions.

Bitcoin Address

In the countries first affected, meanwhile, blame is once again turning political, with Ukraine suggesting state-sponsored Russian hackers were behind the attack.

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Safety Reminder / Phishing Scams

Source From https://research.tradeblock.com/safety-reminder-phishing-scams/

TradeBlock has been made aware of a phishing scam targeting visitors of our website. This scam uses a fraudulent copy of the TradeBlock website to lure users into downloading a potentially dangerous file. TradeBlock will never ask its users to download executable files. TradeBlock is accessible exclusively through the following URL: https://tradeblock.com. Please make sure to manually enter the URL…

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India’s Finance Minister Holds Private Meeting On Bitcoin Regulation

Source From https://news.bitcoin.com/indias-finance-minister-private-meeting-bitcoin-regulation/

Finance Minister

Just recently Bitcoin.com reported that the Indian government was soon planning to regulate bitcoin and the use of virtual currencies within the country. Now according to local reports, India’s Finance Minister Arun Jaitley held a private inter-ministerial meeting to discuss risks and concerns related to bitcoin regulation.

Also read: Indian Bitcoin Adoption Responds to Government Signalling for Regulation

After Hearing Public Opinion Indian Bureaucrats Meet Privately to Discuss Bitcoin Regulation Risks and Benefits

India’s Finance Minister Holds Private Meeting On Bitcoin Regulation
Parliament member Kirit Somaiya reviews public opinions concerning bitcoin regulation.

Many bitcoin proponents are focused on India as they believe the country will be the next in line to recognize and regulate the decentralized currency much like Japan. There have been several meetings and discussions with lawmakers like Parliament member Kirit Somaiya, Finance Minister Arun Jaitley, and many other figureheads. 

Kirit Somaiya has made some negative comments about bitcoin over Twitter in the past, but has recently listened to citizen feedback about regulating the cryptocurrency. This past March, Indian citizens were recently allowed to comment and send feedback on government bitcoin regulation to various politicians.

“I have taken up the issue of bitcoin at various levels, you may send your suggestions to me please,” explains Parliament member Kirit Somaiya this past spring via Twitter.

India’s Finance Minister Holds Private Meeting On Bitcoin Regulation

Many Senior Officials Attend Indian Finance Minister Arun Jaitley’s Inter-Ministerial Meeting  

India’s Finance Minister Holds Private Meeting On Bitcoin Regulation
On June 27, Indian Finance Minister Arun Jaitley held private meetings with government officials to discuss bitcoin regulation.

Now according to sources familiar with Indian government officials, the Finance Minister Jaitley’s inter-ministerial meeting discussed bitcoin regulation after hearing the public’s opinion. Attendees of the meeting included Economic Affairs Secretary Tapan Ray, IT Minister Ravi Shankar Prasad, NITI Aayog Vice Chairman Arvind Panagariya, Home Secretary Rajiv Mehrishi, Financial Services Secretary Anjuly Chib Duggal, and a variety of other Indian lawmakers.

Although Indian bureaucrats like Kirit Somaiya are skeptical of bitcoin, Jaitley has asked fellow lawmakers and citizens in the past to embrace the digital age and prepare for a cashless “mission mode” after last November’s demonetization. “Some of the banks have already had a lot of success, contrary to the argument which is made within the political system that Indians are not well adapted to this mode,” Jaitley said at the time.

India’s Media Headlines Say Bitcoin Regulation is Favorable Among Officials

Regulating virtual currencies in India has brought a lot of attention to the country’s official stance on bitcoin. This past April, legislators created a committee dedicated to researching the various risks and benefits in regards to India legally recognizing the cryptocurrency. On June 20 Bitcoin.com reported on a local Indian CNBC broadcast that stated most of the committee members said they were in favor of regulatory guidelines for virtual currencies.

It seems from Indian news outlets, and regional publication headlines, the Finance Ministry, Jaitley, and the Interdisciplinary Committee will be revealing the outcome of bitcoin regulation soon. Sources say no official decisions were made at Jaitley’s private event but “several issues concerning bitcoin were discussed.”

What do you think about Arun Jaitley’s private bitcoin discussion with fellow Indian bureaucrats? Do you think India will legally recognize and regulate bitcoin soon? Let us know what you think in the comments below.

Images via Shutterstock, Pixabay, and Paul J. Richards/AFP/Getty Images.      

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The post India’s Finance Minister Holds Private Meeting On Bitcoin Regulation appeared first on Bitcoin News.

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How to Use Your Bitcoin Wallet to Get Free Coins

Source From https://99bitcoins.com/how-to-use-your-bitcoin-wallet-to-get-free-coins/

The post How to Use Your Bitcoin Wallet to Get Free Coins appeared first on 99 Bitcoins.

Few things in life are as appealing as free money. For that reason, few things set off as many alarm bells as the promise of free money! After all, if something sounds too good to be true, it probably is… Right? We usually don’t post these type of posts but in this case,  the offer […]

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Former Mycelium Employee Quit After Token Sale Funds Were Used for ‘Vacation’

Source From https://coinjournal.net/former-mycelium-employee-quit-token-sale-funds-used-vacation/

On a recent episode of The Crypto Show, Daniel Krawisz, who previously worked as a backend developer at Mycelium, shared some of the issues he perceived with the bitcoin wallet provider’s token offering from last year. Mycelium’s initial coin offering (ICO) was designed as a way to offer shares in their bitcoin wallet to their […]

The post Former Mycelium Employee Quit After Token Sale Funds Were Used for ‘Vacation’ appeared first on Coinjournal.

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FBI: Hackers Extorted $28 Million in Cryptocurrencies Last Year

Source From https://bitcoinmagazine.com/articles/fbi-hackers-extorted-28-million-cryptocurrencies-last-year/

FBI report on cryptcurrencies and hackers

On June 22, the Federal Bureau of Investigation presented its annual Internet Crime Report for the year of 2016. The FBI analyzed the victim reports at the Internet Crime Complaint Center (IC3) and used the information from their database to publish the annual study. It is important to mention that, according to the Department of Justice’s research, only an estimated 15 percent of the U.S. fraud victims reported their crimes to law enforcement.

The FBI highlighted multiple “hot topics” regarding internet crimes for the year of 2016. This included Business Email Compromise (BEC), which resulted in the loss of $360 million from victims, currently standing in first place in the category of most damage caused. BEC is a sophisticated scam targeting companies working with international or foreign businesses or suppliers who conduct wire transfer payments at regular intervals.

Ransomware, an emerging “business form” among cyber criminals, was specially mentioned in the report. When launching such attacks, the hackers target electronic devices — mostly computers and laptops — with malware that locks up the data of the machines. After the criminals successfully breach the systems of the victims, they demand ransom from them. According to the FBI, in most cases, the ransom is paid in digital currencies, such as bitcoin. In 2016, the IC3 identified 2,673 complaints connected to ransomware attacks, with an estimated loss of over $2.4 million.

Another featured sort of internet crime was tech support fraud demanding approximately $7.8 million from the victims. The scam occurs when the criminals impersonate technical support agents from a computer software, security, cable or internet company. After the hackers get in contact with the victims, they convince them to provide remote access to their devices. Once the criminals have control over their systems, additional criminal activity occurs. Multiple companies, including Microsoft and Mozilla, alerted their customers on their websites regarding such fraudulent activities.

The IC3 recorded 17,146 cases of extortion with losses over $15 million, which occurred using the internet. By the FBI’s description, in extortion cases, cyber criminals “demand something of a value from a victim by threatening physical or financial harm or the release of sensitive data.” The agency identified various forms of the crime, including denial of service attacks, hitman schemes, “sextortion,” government impersonation schemes, loan schemes and high-profile data breaches. According to the FBI, cyber criminals often demand the payments in cryptocurrencies from the victims, which provides the perpetrators an additional layer of security since they are easy to send but harder to trace.

Compared to the previous year, the number of reported internet crime cases increased by 3.7 percent in 2016, with the damage caused to the victims rising by $380 million. Excluding the United States, the top five countries affected by internet crime are ranked in the following order: Canada (3,722 cases), India (2,188 cases), the United Kingdom (1,509 cases), Australia (936 cases) and France (568 cases). Among the states of the U.S., California had the most victims (39,547) followed by Texas (21,441) and Florida (21,068).

The FBI also compared the age groups affected by internet crime. Victims aged above 60 had the most damage ($339 million) and the most cases (55,043). People between the ages of 30 and 39 had the second most cases (54,670); however, they lost only 56 percent ($190 million) to the criminals compared to those over 60. Young persons under the age of 20 had both the least amount of cases (10,004) and damage ($6.7 million).


The post FBI: Hackers Extorted $28 Million in Cryptocurrencies Last Year appeared first on Bitcoin Magazine.

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