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Author Topic: [2016-09-18]Bitcoin Not Involved In Major US$40m Fraud Scheme  (Read 217 times)
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September 18, 2016, 07:29:33 PM

Bitcoin Not Involved In Major US$40m Fraud Scheme

Fraud is an international business, albeit some countries seem more prone to criminal activity than others. Six Nigerians have been arrested and sentenced for their role in a US$40m fraud scheme. Although Bitcoin was not involved – from what we can tell – they used any other means at their disposal to defraud users all over the world...
There are several different types of Bitcoin clients. Hybrid server-assisted clients like Electrum get a lot of their network information from centralized servers, but they also check the server's results using blockchain header data. This is perhaps somewhat more secure than either server-assisted clients or header-only clients.
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September 18, 2016, 11:03:30 PM

this article is kinda attacking the traditional finance and defending bitcoin Wink
like this sentence: " For once, Bitcoin was not involved in this fraud scheme."
and this one
All of this goes to show the majority of fraud cases are made possible thanks to existing financial services... Traditional finance continues to make illegal activity and fraud possible, whereas Bitcoin has no role to play in the process.

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