cryptocurrency

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Cryptocurrency Platform to Hackers: Please Return $600M

Crypto heist at decentralized finance platform Poly Network may be largest ever

(Newser) - Hackers have stolen more than $600 million worth of cryptocurrency in what is "likely to be one of the biggest cryptocurrency thefts ever," reports CNBC . In a message to the hackers, Poly Network, a platform allowing users to transfer tokens between different blockchains, said "the amount of...

Old World Meets New in Latest DC Hangup

Infrastructure bill is stalled by disagreement over cryptocurrency

(Newser) - An old-school political issue—infrastructure—is getting bogged down by the most newfangled of topics. Cryptocurrency. It seems that the giant, bipartisan infrastructure bill is hung up because senators can't agree on how much to regulate the burgeoning field, reports the Hill . The details get convoluted, both in terms...

Cops Use Steamroller to Crush Bitcoin Mining Rigs

Authorities in Malaysia say miners stole $2M in electricity from power lines

(Newser) - A crushing defeat for Bitcoin miners in Malaysia: Authorities in the city of Miri used a steamroller to flatten 1,069 Bitcoin mining rigs in the police station's parking lot, CNBC reports. The machines, which solve complex equations to unlock blocks of the cryptocurrency, were used in illegal operations...

World Bank Rejects a Nation's Plea for Bitcoin Help

Institution says it won't help El Salvador due to 'environmental and transparency shortcomings'

(Newser) - The first country in the world to adopt bitcoin as legal tender recently made a big ask of the World Bank, requesting that the international financial institution help it implement its plans—but it's a no from the group to El Salvador. "This is not something the World...

First Country Makes Bitcoin Legal Tender

'Nobody can refuse payment,' says El Salvador President Nayib Bukele

(Newser) - El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. The digital currency can be used in any transaction and any business will have...

Feds Seize Payment Made to Pipeline Hackers
Feds Seize Payment
Made to Pipeline Hackers
UPDATED
Jun 7, 2021 4:30 PM CDT

Feds Seize Payment Made to Pipeline Hackers

FBI led operation to recover Colonial Pipeline ransom payment from crypto wallet

(Newser) - The hackers who targeted the operator of a vital US pipeline system in a ransomware attack have lost most of their ill-gotten gains, the Justice Department says. Officials said Monday that a new FBI ransomware taskforce led an operation to recover ransom paid in cryptocurrency by Colonial Pipeline, the AP...

A Cryptocurrency CEO Died at 30, Then Things Got Weirder

QuadrigaCX had hundreds of millions of dollars—or did it?

(Newser) - When Gerald Cotten was in high school, the Ontario teen was known to hustle to get his work done in class so that he could spend any free time getting around the school's firewalls to play online games. If that sounds like the origin story of a future internet...

Cops Expecting Pot Farm Uncover Illegal Bitcoin Mine

Operation in UK was stealing electricity from the grid to power 100 computers

(Newser) - Police in Britain say a building they were watching had people coming and going at all hours, numerous wiring and ventilation ducts visible, and was emitting a lot of heat—all "classic cannabis factory signs." But when West Midlands police raided the factory in an industrial area last...

Bitcoin Plunges After China Announces Crackdown

Beijing bans financial services from taking part in cryptocurrency transactions

(Newser) - A bad month for cryptocurrency investors got worse this week following a big move from China. Regulators in Beijing banned financial services companies Tuesday from taking part in cryptocurrency transactions or providing crypto services to clients, the BBC reports. "Prices of cryptocurrency have skyrocketed and plummeted recently, and speculative...

Fake Elon Musks Make Millions in Bitcoin Scams
FTC: Beware Fake Elon Musks
May 18, 2021 8:43 PM CDT

FTC: Beware Fake Elon Musks

Bitcoin scammers have stolen millions by impersonating Tesla CEO

(Newser) - Cryptocurrency scams involving fake Elon Musks have cost people a lot of real money. The Federal Trade Commission says crypto scams have surged along with the value of the digital currencies. The FTC says that between October and March, it received more than 7,000 complaints about scams involving Bitcoin...

Elon Musk Crashes Bitcoin With Tesla News

Company won't be accepting BTC payments anymore

(Newser) - Bitcoin prices fell as much as 14% after a Wednesday tweet from Elon Musk with big news: Tesla will no longer accept Bitcoin payments. "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,...

Dogecoin's Price May Be 39 Cents, but It's Not a Joke

The shiba inu-adorned cryptocurrency is starting to be worth actual money

(Newser) - The big cryptocurrency story has been Bitcoin's tumble from a high of around $63,000 less than a week ago to roughly $55,000 Monday. But the underdog's story—we're talking, of course, about Dogecoin and its meteoric rise—has in the same timeframe attracted cheers from...

After Huge IPO, Coinbase Founder Suddenly One of World's Richest

Brian Armstrong added about $16B to his net worth

(Newser) - On Wednesday, Brian Armstrong skyrocketed into billionaire land—way into billionaire land. The 38-year-old founder and CEO of Coinbase added about $16 billion to his worth when the company went public at a valuation of around $100 billion, CNN reports. Armstrong owns roughly 40 million shares, a 21% stake. (Per...

Crypto Exchange Valued at $87B in Stock Market Debut

Bank stocks were mixed despite strong earnings reports

(Newser) - Most US stocks rose Wednesday following an encouraging start to what’s expected to be a thunderous earnings reporting season, but major indexes still ended mixed as drops in several tech heavyweights including Apple and Facebook weighed them down. The S&P 500 fell 0.4%, to 4,124.66...

He Used Bitcoin to Try to Buy Killer Chemical: 'I Plan to Use It Soon'

Jason Siesser of Missouri apparently had had a difficult breakup that may have spurred purchase

(Newser) - A Missouri man was sentenced Tuesday to 12 years behind bars after prosecutors say he tried to buy off the dark web a dangerous chemical weapon that could kill hundreds, using cryptocurrency for his purchase. Per court documents cited in a Justice Department release , Jason William Siesser, now 46, pleaded...

Man Blames Apple for $600K Bitcoin Theft

Scam cryptocurrency app was downloaded from the 'trusted' App Store

(Newser) - Apple says its App Store is "the world's most trusted marketplace for apps," where each submission is carefully reviewed. Still, one app on iOS was able to steal $1.6 million in bitcoin from at least five people, reports the Washington Post . On Feb. 1, Phillipe Christodoulou...

Someone Bought a $500K House They Can Only Pretend to Live In

Latest non-fungible token, or NFT, is a home on Mars to be viewed via images or augmented reality

(Newser) - Non-fungible tokens have become all the rage in recent days, with one artist selling his NFT earlier this month for a record $69.3 million . Now, the new cryptocurrency—a unique digital file linked to a blockchain, which often includes such content as artwork, videos, and even social media posts—...

Ocean Spray Guy Is Selling Viral Video as an NFT
Ocean Spray Guy Is
Selling Viral Video as an NFT
THE RUNDOWN
Mar 17, 2021 7:35 PM CDT

Ocean Spray Guy Is Selling Viral Video as an NFT

But Elon Musk has decided against selling a tweet

(Newser) - More than 80 million people have watched a TikTok video in which Idaho man Nathan Apodaca swigs from a bottle of Ocean Spray while skateboarding to Fleetwood Mac's "Dreams." The viewers didn't pay a penny, but they will now have a chance to buy the original...

Feds Say Massive North Korea Hack Was Revenge for Movie

Country's agents are 'world's leading bank robbers,' prosecutors say

(Newser) - North Korean operatives are the "world's leading bank robbers," federal prosecutors said Wednesday, announcing charges against three computer programmers in the regime's "General Reconnaissance Bureau." Jon Chang Hyok, Kim Il, and Park Jin Hyok are accused of taking part in cyberattacks that stole and...

Bitcoin Price Tops $50K for the First Time

More companies are getting behind digital currency

(Newser) - The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. The price of Bitcoin has risen almost 200% in the past three months, and its volatility was on display Tuesday. After rising above...

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