This week a cryptocurrency trader who traded altcoins and bitcoin on the digital currency exchange Bittrex lost over 7 BTC ($18,000 USD) while recording the entire theft. The trader from New Zealand revealed his testimony and believes he was hacked by malicious bots created to steal digital assets.

A Trader’s Worst Nightmare

 trader named Shayne who calls himself “Crypto is Key” detailed an unusual experience watching his Bittrex account that held eleven BTC drain down to four BTC. The victim explains the Bittrex account was shared with a buddy of his who helped him make decisions and trades. Additionally, he says the account was protected with two-factor authentication and a very long password. However, when he woke up and logged into Bittrex, he noticed his holding were being sold, and his account was missing 7 BTC which was withdrawn to an unknown address.

“Everyone’s worst nightmare concerning trading is losing their wealth to thieves,” explains the Bittrex trader.

   
Continue reading - https://news.bitcoin.com/revealing-digital-currency-online-horrible-idea/

This week a cryptocurrency trader who traded altcoins and bitcoin on the digital currency exchange Bittrex lost over 7 BTC ($18,000 USD) while recording the entire theft. The trader from New Zealand revealed his testimony and believes he was hacked by malicious bots created to steal digital assets.

A Trader’s Worst Nightmare

 trader named Shayne who calls himself “Crypto is Key” detailed an unusual experience watching his Bittrex account that held eleven BTC drain down to four BTC. The victim explains the Bittrex account was shared with a buddy of his who helped him make decisions and trades. Additionally, he says the account was protected with two-factor authentication and a very long password. However, when he woke up and logged into Bittrex, he noticed his holding were being sold, and his account was missing 7 BTC which was withdrawn to an unknown address.

“Everyone’s worst nightmare concerning trading is losing their wealth to thieves,” explains the Bittrex trader.

   
Continue reading - https://news.bitcoin.com/revealing-digital-currency-online-horrible-idea/

On June 22 to 26, many anarchists and freedom families congregated in Delton, Michigan for the Midwest Peace and Liberty Fest 5. It is a gathering for all liberty lovers who are looking to network, connect, mingle, and spend some time in nature. Bitcoin.com was lucky enough to make an appearance at the festival and provide attendees with cryptocurrency information and plenty of swag. 



Aesthetic of the Fest; Amazing Speaker Lineup

The mood of the fest was light and intimate. The festival grounds were lush and serene. They included a wooded area with an orchard, plenty of camping spots, and wildlife galore. The atmosphere seemed to encourage bonding between everyone involved. Most of the revelers were there to share their love of liberty, decentralization, and compassion. The fest’s website described it in a similar fashion:

“You can expect diverse and life-enriching experiences at this year’s Fest. We know how valuable free time, sharing meals, conversation, and connection with a like-minded community is, and with that in mind we’ve made sure to maintain the laid back and flexible nature of last year’s festival. We are also aware that there is value in highlighting the innovative and intelligent minds the liberty community has to offer from across the Midwest. At the pavilion, expect a line-up of Midwest sourced liberty enthusiasts offering talks, interactive discussions, demonstrations, and dialogues on the most pertinent issues relevant to your freedom.”

This year’s talks were no exception regarding the quality of speakers. Several of the greatest minds in the liberty movement provided talks. Some of the subjects included peaceful parenting, government overreach, dealing with police, and slashing healthcare costs. Speakers included Dayna Martin, Jeffery Tucker, Mary Ruwart, Adam Williams, Nick Hazelton, Paul Gordon, Andrew Marich, Shane Radliff, Jeff Wood, and others.

Solving the Bitcoin Scaling Dilemma by the Campfire; Jeffrey Tucker Talks about Bitcoin and Blockchain

One of the most pertinent cryptocurrency events at the festival was an impromptu bitcoin discussion panel that cropped up as the stars grew bright in the sky and the campfire crackled.

The discussion revolved around how to successfully resolve the scaling dilemma. Critiques on Blockstream and Core came up. There were also people who did not know much about bitcoin, so the fireside discussion offered a teachable moment for those individuals. Overall, the discussion was polite. It was also intimate and allowed for many details of each thought to be fleshed out.

Jeffery Tucker also referenced the importance of the blockchain revolution and the growing number of cryptocurrency millionaires in his talk. He called the emergence of these new wealthy crypto elite the new “blockchain aristocracy,” because they will be replacing the old order. He implied bitcoin and other cryptocurrencies are the technologies of liberty, and they are here to stay. He said this is a beautiful time to be alive.

Continue reading - https://news.bitcoin.com/midwest-peace-and-liberty-fest-intimate-fireside-bitcoin-conversations/

A large dining establishment in the center of Moscow reportedly became the first restaurant to accept bitcoin payments in Russia’s capital city on Tuesday, according to local media outlets. Valenok is part of the Novikov Group, which owns over 50 restaurants and franchises. Now the company is considering installing bitcoin ATMs as well.

First Restaurant to Accept Bitcoin in Moscow

Felt Boot Restaurant Valenok Becomes the First in Moscow to Accept BitcoinOn Tuesday, several Russian news outlets reported that Valenok has become the first restaurant in Moscow to accept bitcoin.

Named after the traditional Russian type of footwear, Valenok is symbolized by the world’s largest handmade felt boot, its website details. “A symbol of the restaurant is a giant six-meter felt boot (Valenok).” The Russian cuisine restaurant is located on the Tsvetnoy Boulevard in the center of Moscow. The spacious establishment occupies 2 floors, seats 340 people, and an average main course there costs about $10.

Valenok is part of the Novikov Group which owns over 50 eatery projects, including restaurants and several franchises, located in Russia, London, and Dubai.

Mikhail Petuhov, managing partner at Novikov Group, told BFM.ru that his customers are young, modern and sophisticated. He described the time he was asked by a friend why his restaurant did not accept bitcoin so he decided to try it out. Two transactions were made, which was exciting, the publication reported him saying. “In the restaurant business, I had not heard of such examples. So, there is no one to ask, unfortunately,” he added.

Felt Boot Restaurant Valenok Becomes the First in Moscow to Accept BitcoinPetuhov explained how bitcoin payments work at his restaurant: “The seller generates a QR-code that contains the amount to be paid and the seller’s wallet address. The buyer scans this code using his Bitcoin smartphone app and makes the transaction.”

Continue reading - https://news.bitcoin.com/restaurant-valenok-first-moscow-accept-bitcoin/

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.


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.

Continue reading - https://news.bitcoin.com/indias-finance-minister-private-meeting-bitcoin-regulation/

Yesterday’s global cyberattack showed, once again, how unprepared many organizations are when it comes to patching their systems to protect them from vulnerabilities, and so far, has received over $9,000.

Despite the global disruption the cyberattack presented, only $9,500 has been paid from victims, to this address 1Mz7153HMuxXTuR2R1t78mGSdzaAtNbBWX according to Blockchain.info. While it’s still early days, considering the scope that cyberattacks have the potential of producing, payouts seem to be a lot lower than previously thought.

WannaCry, the last global cyberattack that occurred in May, caused a significant amount of disruption among organizations and their computer systems, and yet, to date, it has only been able to raise over $130,000 from ransom demands.

When you consider the 2014 CryptoWall ransomware, which saw ransom payments reaching $325 million, the WannaCry figure pales in comparison.

Not Petya, but Something New

In a tweet from security firm Kaspersky Lab, this latest ransomware is an entirely new one. While it was initially thought to be an updated malicious virus known as Petya, it isn’t.

The security firm said:

    "Kaspersky Lab’s analysts are investigating the new wave of ransomware attacks targeting organizations across the world. Our preliminary findings suggest that it is not a variant of Petya ransomware as publicly reported, but a new ransomware that has not been seen before. That is why we have named it NotPetya."

Yet, similar to the WannaCry cyberattack, it appears that this new variant is also employing the Eternal Blue exploit.

In a blog post, the security firm said:

    "This appears to be a complex attack, which involves several attack vectors. We can confirm that a modified Eternal Blue exploit is used for propagation at least within corporate networks."

Will Victims be Able to Regain Access?

Interestingly, there is some indication that even though victims have paid the ransom demand of $300 worth of bitcoin, they may not be able to gain access to their files for the decryption key.

According to a report from the Business Insider, the hackers had provided an email address that victims were supposed to reply to with their Bitcoin wallet ID and a personal installation key. However, the operator behind the email address, German firm Posteo, had blocked access to it, preventing the hackers from reviewing it and from people emailing it.

In a statement released yesterday from the German company, they said:

    "At noon today we learned that ransomware blackmail is currently providing a Posteo address as a contact option. Our abuse team checked this immediately – and the mailbox immediately blocked. We do not tolerate any misuse of our platform."

Yet despite this, a quick check on Blockchain.info shows an increase in the number of transactions with several of them amounting to $300. The question remains: how will it be known who has paid and who to send the decryption key to?

https://www.cryptocoinsnews.com/10200-global-petya-ransomwares-bitcoin-earnings-far/

The government of Japan will test a blockchain powered platform for processing government tenders this fiscal year.

Japan is ditching its expensive centralized IT servers that are vulnerable to cyberattacks and data theft in favor of the same technology underpinning digital currencies like bitcoin.

According to a report today in the Nikkei, Japan’s Ministry of Internal Affairs and Communications will commence testing a blockchain-based system for processing government tenders this fiscal year through to March 2018.

A typical government tender process sees a governmental agency issuing a call for small, medium or large businesses in the private sector, inviting their competitive bids for a range of projects. The Japanese IA and Communications ministry sees the process to be significantly enhanced with blockchain technology. ‘Instead of applicants collecting the tax payment certificates and other necessary documents from various government offices, for example, the agency issuing the tender would be able to gather the information electronically,” the report revealed.

Current centralized systems are expensive to maintain due to cybersecurity-related costs. Furthermore, the risk of a data breach even restricts the kind of information that is currently shared with or within different government agencies, Nikkei cites Japanese officials as stating.

Transparency and immutability are core traits of blockchain technology and it’s easy to see why the Japanese government is tapping the innovative tech for data sharing and recording. In a separate project, the government is working toward unifying all property and land registries across the entire length of the country, into a single ledger powered by a blockchain. Currently, some 230 million land plots and 50 million buildings are registered in various local municipalities, land and justice ministries – each who maintain their own property registries. A trial will commence in select cities in summer 2018 before a nationwide rollout over five years.

In 2018, following the testing of these two pilot projects, the Japanese government will also reportedly unveil a roadmap outlining its plans to integrate blockchain technology in e-governance systems in a marked move toward decentralization.

https://www.cryptocoinsnews.com/japan-will-test-government-tenders-blockchain-year/

By now, most technically minded people agree that blockchain technology is good. The big question I’ve been asking myself lately is…. good for who?

The blockchain was developed to level the playing field between Wall Street and Main Street and through the power of the Internet narrow the gap between rich and poor.

However, lately, it seems that cigar smoking banksters of the world are getting their grubby hands all over the blockchains in ways that are a bit unsettling.

Just yesterday, it was announced that IBM will be taking charge of an ongoing project known as HyperLedger, which is Wall Streets version of a Blockchain for Bankers.

IBM has a particularly nefarious history when it comes to misusing technology, but that was a long time ago. We sincerely hope that they’ll get it right this time.

–Mati Greenspan
eToro, Senior Market Analyst

Please note: All data, figures & graphs are valid as of June 29th. All trading carries risk. Only risk capital you can afford to lose.


Bitcoin Bounce

It looks like the bitcoin dip did indeed find some major buyers but not the usual kind. Looking at the volumes over the last 24 hours we can see that the number one customer is the Korean exchange bithumb.

This is the first time that I’ve seen the Korean’s trump volumes of Poloniex.

We need to keep in mind that at this time Koreans do not have any practical use for bitcoins. They don’t have many stores that accept them, and the new government has more important things to deal with at this time than a regulatory framework for digital assets.

The only country that does have a rapidly growing number of vendors accepting bitcoin is Japan. As we can see above, bitFlyer is currently number 10. Not that they’ve gone down recently, but they certainly haven’t increased their buy orders since the peak.

Therefore, we can probably conclude that the reason bitcoin has been rising lately is due to speculation. Now, that’s not necessarily a bad thing, just something to keep in mind.

As always, please feel free to contact me directly with any questions, comments, and feedback. Have a spectacular day ahead!

https://hacked.com/blockchain-for-bankers-bitcoin-speculators/+&cd=2&hl=en&ct=clnk&gl=ua&client=firefox-b-ab

Bitcoin’s ability to rise above centralized state-sponsored tokens is the subject of timely reminders from the community.

Banks’ centralized digital tokens have come under fresh criticism from cryptocurrency experts and Max Keiser.

In a Twitter exchange yesterday, Keiser praised the perspective of computer scientist and Bitcoin enthusiast Datavetaren, who reiterated the vulnerabilities non-decentralized schemes face.

Datavetaren’s hacking example “demonstrates why centralization (single point of failure) prevents state actors from effectively competing with Bitcoin,”

Central banks in several countries have expressed particular interest in creating controlled digital tokens for a variety of uses.

The People’s Bank of China has extensively researched the concept and began testing a prototype last week. Meanwhile, Russia’s central bank is keenly assessing the implementation of the so-called ‘Russian Bitcoin’ which would also be strictly centrally managed.

Against this background, Datavetaren drew stark contrasts to Bitcoin’s inherent security model prohibiting such tokens entering the market.

The global banking industry itself is also grappling with the pitfalls of security, especially regarding the so-called ‘distributed ledger technology’ championed by groups such as the R3 CEV consortium.

Often hitting the headlines for the wrong reasons, the notionally Blockchain-focused group has been shedding high-profile members since last November.

Full article with Max Keiser`s quotes:

https://cointelegraph.com/news/centralized-state-digital-tokens-cant-compete-with-bitcoin-max-keiser

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

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.



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

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

Thank you bro. Your reply realy assured me that 4th bounty week really exist in this project.)

Any news about bounty paymants ? If guys from Encryptotel team recovered all the tokens, then nothing interferes with bounty paying.

I have to thanks managers you for bounty distribution. Despite initial delays, i am sure, all participants will get their ptoys.

Aha, signature campaign is still going?   So, it would be right thing to add week "4" to the signature spreadsheet. Because some participants there are unaware about current situation.

What a bad habit, stop talking with your supporters after successfull crowdsale and ico. Slack existing is good, but we are here, in this thread, and managers know that we are here, so why don`t they speak to us, guys?

Interesting. I want to check my bounty status on signature campaign and the  spreadsheet requires permission. Please fix this.

I cannot achieve Sr. Member for some reason. I already achieved 240 posts, but they stopped effect on my rank.

India possesses enormous economic potential. It would be perfect for all of bitcoin community when india`s autorities judge to recognize bitcoin as legal currency.

A network of Buddhist mediation practitioners in Thailand has reportedly been the target of a gang of operators pushing a possible bitcoin pyramid.

According to a report by the Bangkok Post, a network of practicing Buddhists monks in multiple temples across Thailand were approached by a gang, purporting to be Buddhist monks, to invest in bitcoin. The gang members gained the trust of the monks and promised them rich rewards with a minimum investment of 38,000 Thai baht (approx. $1117). Up to 700- 800 Buddhist followers were persuaded to invest in the scheme and were told of returns after 300 days. Additional returns were promised if they persuaded others to invest in the bitcoin fund.

The gang also allegedly referred to a senior monk as the primary investor of the fund, which they claimed was backed by a state bank. Both these claims were later found to be untrue.

The exaggerated rewards stoked suspicions among some and a representative for a mediation group at Wat Pa Kluya approached the Department of Special Investigation (DSI) to investigate the investment scheme and the gang.

“I was persuaded by a gang member myself,” the Bangkok Post quotes Charoenporn Unpranit as stating.

She added:

"But I did not join it. I was not convinced by them [the gang members]. But I have learned that the gang managed to persuade about 700-800 Buddhist followers in Uttaradit, Pathum Thani and Chiang Mai to invest in the fund by infiltrating temples."

As things stand, no investors have suffered losses so far, according to regional publication The Nation. Still, the offers being made to prospective investors are reportedly “too good” to be true.

The growing popularity of bitcoin has seen schemers abuse digital currencies around the world and it is no different in parts of south-eastern Asia. In September 2016, a multi-level-marketing (MLM) scheme that used bitcoin as its currency with returns of 144% every month went bust, after seeing deposits of over $1 million during its operation. The growth in such schemes saw the Vietnamese government warn against the use of digital currencies. As ever, bitcoin took the smear and the blame for being abused by schemers.

BITCF and SAMCO to Install Automated Check-Cashing Bitcoin ATMs in California

First Bitcoin Capital Corp (BITCF) and Simple Automated Money, Inc (SAMCO) have announced a partnership to introduce check-cashing Bitcoin ATMs into Northern California’s high traffic markets.


First Bitcoin Capital Corp have announced that they will be integrating check-cashing capabilities into high traffic ATM locations throughout Northern California in partnership with Simple Automated Money, Inc. BITCF is a publicly traded Canadian company that seeks to acquire bitcoin start-ups and invest in companies that are developing bitcoin software or hardware applications.

The partnership with SAMCO will begin with a trial of 3 check cashing kiosks in Northern California, before beginning a national rollout later this year. BITCF has also announced it has begun development for integrating bitcoin trading purchasing and selling capabilities throughout the current network of 85 SAMCO kiosks that are installed throughout America. BITCF has been distributing SAMCOs kiosks to medical cannabis dispensaries in California – an emerging market that BITCF seeks to capitalize upon.


It has been quite a busy month for BITCF, with other announcements that the company will be launching an ICO for an alternative cryptocurrency called Weedcoin. Weedcoin is proposed as an alternative payment option for the burgeoning cannabis industry, however, just like its major rival Potcoin, Weedcoin appears to offer nothing unique to cryptocurrency outside of a niche-specific name for marketing purposes. BITCF also announced plans to move ownership of its shares onto the bitcoin blockchain following recommendations by the company’s SEC counsel due to the required disclosures to OTC Markets – where the company’s shares were previously traded.

The company also garnered attention in April when it was announced that BITCF-owned cryptocurrency exchange COINQX would be the first exchange to offer speculation on the possible outcomes of the hard fork. It was announced that COINQX will be offering five additional ‘futures’, allegedly corresponding to different potential outcomes of the hard fork. The company added the following disclaimer to the announcement of said ‘futures’ markets, stating “none of these “futures” tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof)” – leaving many skeptical as to what the tokens represent.

https://news.bitcoin.com/bitcf-and-samco-to-install-automated-check-cashing-bitcoin-atms-throughout-california/