Hawaiian Electric Utility Scam Threatens Disconnection Unless Bitcoin Bill is Paid

It’s a case of an old scam in a new wineskin. Customers of electric utility companies in the state of Hawaii are being targeted by scammers who are relying on the relative anonymity offered by cryptocurrencies. The fraudsters are calling the customers of power firms that include Hawaii Electric Light, Maui Electric and Hawaiian Electric

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Bitcoin Mining Farm in Norway Receives Bomb Threat as Noise Complaints Mount

It appears that the cryptocurrency revolution is not all that welcome in Norway, with a bitcoin mining facility in a remote part of the country receiving a bomb threat. According to the Vakdalposten newspaper, the mining company, which is called Kryptovault and operates in the cities of Follum, Honefuss, and Dale, received the bomb threats … Continued

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Thailand Bitcoin Fraud Case Ropes in Bank Staff and Prominent Stock Investor

The investigation into the Thailand bitcoin fraud case involving a Finnish national who lost 5,564 bitcoins to Thai fraudsters has now widened its reach to include a stock investor and bank employees. According to the Bangkok Post, Prasit Srisuwan, an investor at the Stock Exchange of Thailand, as well as employees of three Thai commercial … Continued

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Thailand: Bitcoin Fraud Case Ropes in Bank Staff and Prominent Stock Investor

The investigation into the Thailand bitcoin fraud case involving a Finnish national who lost 5,564 bitcoins to Thai fraudsters has now widened its reach to include a stock investor and bank employees. According to the Bangkok Post, Prasit Srisuwan, an investor at the Stock Exchange of Thailand, as well as employees of three Thai commercial … Continued

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ICO Exit Scams Have Stolen Nearly $100 Million: Research

The cryptocurrency industry may be maturing, but that doesn’t mean it’s likely to shed its reputation as a playground for scam artists anytime soon. That’s according to a report from Diar, which found that ICO exit scams have now cost investors nearly $100 million. The majority of these stolen funds, an estimated $68 million, has … Continued

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Arizona Bitcoin Trader Sentenced to 41 Months in Prison for Money Laundering

An Arizona man with a particularly lengthy rap sheet that includes guns, ammo and drugs has been sentenced to prison for laundering drug money with bitcoin. Announced on Wednesday by a U.S. Attorney’s Office in Arizona, 54-year-old Thomas Costanzo, aka Morpheous Titania, has seen a sentence of 41 months in prison for charges related to … Continued

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SamSam Ransomware Makers Rake in $6 Million in Bitcoin: Research

The SamSam ransomware has grossed its creator over $6 million in Bitcoin since late 2015, according to research from cybersecurity firm Sophos. The UK-based cyber-security firm published its findings in what is believed to be the most comprehensive research on the SamSam ransomware. The study is based on the data collected by the researchers from … Continued

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SIM Hijackers Steal Over $5 Million in Bitcoin in First Reported Crime of its Kind

Forget cryptojacking, SIM hijacking now seems set to become even more lucrative for criminals looking to cash in with bitcoin from the burgeoning space. A 20-year old college student from Boston, Massachusetts was arrested in California earlier this month on charges of being part of a gang that hacked cellphone numbers before stealing over US$5

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Crypto Mining Firm CEO Exit Scams with $35 Million in Investor Funds

The CEO of Sky Mining, a crypto mining company in Vietnam, has disappeared with investor funds totaling about $35 million, according to a local news outlet. About 20 investors of Sky Mining reported the matter to the local police in the Phú Nhuận District after learning that “approximately 600 mining machines had been removed” by

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Coinbase Internal Probe Finds No Evidence Of Bitcoin Cash Insider Trading

A Coinbase internal investigation into alleged insider trading before it listed Bitcoin Cash has found no evidence to support the allegations. The exchange, which hired two law firms to carry out an in-house investigation of the accusations, has stated that no wrongdoing was found, and it will take no further action. Bitcoin Cash Allegations Since … Continued

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Bitcoin Ransomware Creators Avoid Jail Time for $11,000 Heist

Two brothers convicted of creating bitcoin ransomware and infecting more than 1,000 computers have narrowly avoided jail time and will instead perform community service. Authorities initially arrested the two Dutch brothers in 2015 for infecting thousands of computers during the previous two years. Three years later, the story is finally coming to an end, as … Continued

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Canadian Police Seize $1.8 Million in Bitcoin From Alleged Silk Road Drug Dealer

The Canadian province of British Columbia is seeking to set a precedent in cryptocurrency-related law enforcement by laying claim to $1.8 million worth of bitcoin, which it seized from a convicted drug dealer who allegedly operated under the pseudonym “ MarijuanaIsMyMuse” on the infamous dark web platform Silk Road. The Vancouver Star reports that the

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Bitcoin Stock Exchange Operator Pleads Guilty to Securities Fraud

The founder and operator of two shuttered online crypto investment platforms, including bitcoin stock exchange BitFunder, has pled guilty to securities fraud and obstruction of justice. The guilty plea was announced by the U.S. Attorney’s Office for the Southern District of New York this week wherein 37-year-old Texan Jon Montroll aka ‘Ukyo’ admitted to deceiving

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U.S. Judge Slaps Bitcoin Fraudster with $1.9 Million in Penalties

The United States Commodity Futures Trading Commission (CFTC) has successfully prosecuted a bitcoin fraudster in connection with his criminal bitcoin investment program, which he used to extract hundreds of thousands of dollars from his victims. Announcing the successful case in a press release, the CFTC revealed that on July 9, 2018, Dillon Michael Dean of

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U.S. Attorney Moves to Dismiss Murder-for-Hire Charges Against Ross Ulbricht

A U.S. Attorney for the District of Maryland has filed a motion to dismiss pending charges against Ross Ulbricht, known as “Dread Pirate Roberts,” who is serving a life sentence following his conviction for his role in the Silk Road marketplace which facilitated the sale of illegal drugs. The motion to drop the indictment and … Continued

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Judge Forces Alleged ICO Fraudster to Fork over $3.7 Million in Bitcoin

Dominic Lacroix, the subject of ICO fraud charges, transferred $3.7 million worth of bitcoins to a court-appointed administrator right in a Quebec City courtroom on July 6 as ordered by a judge, according to ICI Quebec. Canada’s Financial Markets Authority and the U.S. Securities and Exchange Commission claimed Lacroix was responsible for a fundraising scheme … Continued

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In a First, UK Police Seize Cannabis Grower’s Bitcoins Worth $1.6 Million

Among the many potential roles that bitcoin could play in society, it is hard to imagine plugging holes in police budgets being one of them. Until now. Surrey Police have become the first law enforcement agency in the United Kingdom to convert bitcoins that were seized from a drug dealer into British pounds, a portion … Continued

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Brazilian Police Bust Gang Who Used Bitcoin to Launder Millions of Dollars

Brazil’s Federal Police has recently arrested 12 individuals connected to a gang that allegedly used bitcoin to launder “millions of dollars” earned smuggling drugs into Europe, Asia, and Africa. According to local news outlet Folha de S.Paulo, the gang was busted in an operation dubbed “Antigoon,” in cooperation with the country’s Department of Federal Revenue.

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LocalBitcoins Trader ‘Bitcoin Maven’ Sentenced to Prison for Money Laundering

LocalBitcoins trader Theresa Lynn Tetley, better known as the “Bitcoin Maven,” has been sentenced to 12 months and a day in prison, a $20,000 fine, and three years supervision after release for laundering bitcoin as proceeds of narcotics sales and for her role in running an illegal bitcoin-for-cash exchange, according to the U.S. Attorney’s Office for … Continued

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Greek Court Agrees to Extradite Alleged Bitcoin Fraudster BTC-e Admin to France

Alexander Vinnik, a one-time admin of bitcoin platform BTC-e who was arrested in Greece last year on an international warrant for cybercrime, has been ordered by a Greek court to be extradited to France. The United States and Russia have also sought extraditions of Vinnik. Vinnik’s lawyer, Ilias Spyrliadis, said Vinnik is appealing the court’s

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