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Tag Archives: bitcoin

Man Sentenced for Running an Illegal Bitcoin Exchange

U.S. Attorney Annette L. Hayes announced that Louis Ong, 37, had been sentenced for effectively laundering millions of dollars in Bitcoin for undercover agents who had indicated their money originated from a successful drug distribution operation. U.S. District Judge Robert S. Lasnik sentenced the man to three years of supervised release, suspended with 20 days in jail and a $1 ... Read More »

Amazon Patent to Help Unmask Bitcoin Users by Subscribing to “Data Stream”

Amazon, the world’s largest retailer, has a new patent that takes the unique authoritative opinion contrary to the decentralized pseudo-anonymous outlook for virtual currency—namely, bitcoin. The patent uses its data-stores to establish the active participants in bitcoin transactions so as to trade the said information on to a subscriber base, a crucial component that would be very useful in law ... Read More »

Justice does not know what to do with bitcoins

Benton County sheriffs mine Bitcoin for dark web investigations

As the conversation on the good and bad of cryptocurrency rages, the sheriff’s office in Benton County is way ahead of the talk. In 2017, their unit dedicated to handling cyber crimes decided to venture into the untamed waters of Bitcoin mining. Their interest in the matter, however, was purely out of need and not for wealth creation. In other ... Read More »

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Spanish Police Smash a Bitcoin criminal gang–11 arrested over money laundering

The Spanish civil guard police have arrested 11 suspects and launched an investigation of 137 others dedicated to a major operation on money laundering. The alleged Bitcoin criminal gang was smashed for trafficking drugs and laundering money through the use of virtual currencies. Bitcoin has become increasingly popular in the recent past as an alternative form of currency. The digital ... Read More »

Snowden Documents Reveal the NSA Has Been Tracking Bitcoin Users Since at Least 2013

A series of documents recently published by The Intercept shows that the NSA has been tracking Bitcoin users for years. The documents were provided by NSA whistleblower Edward Snowden. While many other federal agencies are paying private contractors, such as Chainalysis, to provide information on Bitcoin transactions and users, the US intelligence community has been running their own cryptocurrency surveillance ... Read More »

Darknet Bust Leads to Portugal’s First Bitcoin Seizure

In Atouguia da Baleia, a judge sentenced a couple from Poland to prison for selling narcotics on the darknet. The husband received a seven year prison sentence and the wife received a sentence of only five and a half years. The Judicial Police seized the couple’s cryptocurrency earnings and, in doing so, made the first Bitcoin seizure in Portugal. Grezegorz, ... Read More »

How To Do Unlinkable Bitcoin Transactions

Cryptocurrency usage is growing everyday and, with it, people’s awareness about them is growing too. One of the greatest advantage of using Bitcoins or other cryptocurrencies, is the protection of your anonymity during and after the transaction; anyway, it’s crucial to point out that the word “anonymity” is here intended as the fact that your transactions are linked to your ... Read More »

Courtroom Confused by a Suspect’s Bitcoin Laundering Methods

In late January 2018, a 26-year-old from Pfaffenhofen, Bavaria, faced a judge at the Neuburg District Court for drug trafficking and drug distribution in no small amount. The Neuburg prosecutor accused the man of using the darknet to buy and sell hash and marijuana. According to the prosecutor, the defendant committed two types of drug distribution crimes; he sold hash ... Read More »

How to Anonymize your Bitcoin with Monero

When it comes to keeping your OPSEC on point you need to make sure you are keeping all your coins anonymous. ‘Dirty coins’ are crypto coins that have strong links to illegal activity – you don’t want this. Basically, to stay safe, you will want to clean your coins (probably Bitcoin). When one thinks of cleaning their Bitcoin the first ... Read More »

Bitcoin Transaction Fees Have Skyrocketed – How To Deal With That?

Bitcoin price has soared during the past few months, which was also associated with a sharp rise in transaction fees. Currently, on average costs around $20 to send a transaction across the bitcoin network. This has forced many businesses and individuals to refrain from using bitcoin, especially that the fees tended to be below $2 a couple of months ago. ... Read More »

Bitcoin News Roundup 14.1.18

This week’s summary of various cryptocurrency news and developments: New developments: Microsoft temporarily stopped accepting Bitcoin payments Software and hardware giant Microsoft halted Bitcoin payments this week, as first reported by Bleeping Computer, citing the “unstable” state of the cryptocurrency. When pressed, the company’s customer support revealed that Microsoft decided to stop accepting the cryptocurrency back in July 2017, due ... Read More »

Research: 47% Of All Bitcoin Transactions Involves Illegal Trading Mostly On ‘Darkweb’

Talis Putnins and Jonathan Karlsen, Professors at the University of Technology Business School in Sydney, together with Dr. Sean Foley from Sydney University, have been jointly working on a research whose results are shocking. In their yet to be published document ”Sex, Drugs, Darknet and Bitcoins,” the nearly half of all bitcoin transactions involve illegal trading either directly or indirectly ... Read More »

Bitcoin News roundup 7.1.17

This week’s summary of various cryptocurrency news and developments: New developments: Facebook CEO studying cryptocurrencies in quest for decentralization Mark Zuckerberg, in what he called personal challenges for the year ahead, revealed that he is studying cryptocurrencies and encryption to improve the social networking service he co-founded. He noted that this year he is going to focus on “fixing important ... Read More »

Feds to Sell Alleged Darknet Dealer’s Bitcoin

In December, a federal judge signed an order that allowed the U.S. government to sell bitcoin seized in an investigation into a fentanyl trafficking ring in Utah. Even though the defendants and original owners of the assets still faced charges in court, the U.S. Attorney’s Office moved to sell the digital currency and vehicles prior to any sentencing, citing the ... Read More »

Using Bitcoin Transaction Analysis In Deanonymizing Users of Tor Hidden Services

Anonymity over the world wide web has never been a more critical issue. To achieve bulletproof anonymity, multiple solutions are being currently implemented by internet users all over the world. The most popular of which is the Tor network that represents the busiest anonymous communication network on the internet serving millions of users every day. Tor also enables webmasters to ... Read More »