A British judge has ordered the confiscation of $1.1 million worth of cryptocurrency from a hacker who used phishing attacks to steal personal data and sell it on the dark web.
As The Telegraph reported on Aug. 23, judge Joanna Korner of Southwark Crown Court ruled that the police could confiscate $1.1 million worth of digital currency from Grant West.
In his cyber attacks, West allegedly operated under the online pseudonym “Courvoisier” and used phishing emails to steal customers’ personal data — including financial data, as well as credit and debit cards details — before selling it on the dark web with cryptocurrency.
78 million individual usernames
West targeted companies including Sainsbury’s — the second largest retail chain in the United Kingdom — general merchandise retailer Argos and Uber. During the investigation, the police seized an SD card containing 78 million individual usernames and passwords, and the information of 63,000 credit and debit cards.
West was reportedly sentenced to ten years for conspiracy to defraud and possession of criminal property in May. At the time of West’s arrest, the value of the cryptocurrency was around $1.96 million, but price volatility made it difficult for authorities to determine the exact value of the confiscation, according to prosecuting barrister Kevin Barry.
The seized digital currency is set to be sold and West’s victims will be compensated for damages.
In July, a gang of masked men raided a Bitcoin (BTC) exchange in the English city of Birmingham, sparking a police investigation. On that occasion, the group had reportedly attempted to steal a Bitcoin automatic teller machine using a rope attached to their car.
According to blockchain security company CipherTrace, outright thefts, scams and other kinds of misappropriation of funds from digital currency holders and trading platforms resulted in around $4.3 billion in losses throughout 2019.
ZenGo supports Tezos’ threshold signature after it open-sources TSS code
Keyless cryptocurrency wallet solution, ZenGo, was recently in the news for announcing that it will be the first wallet to support Facebook’s native cryptocurrency, Libra. ZenGo had revealed that the Libra testnet was available on its network and had launched a proof-of-concept, particularly designed for Libra.
Back in June, the keyless wallet solution had also announced the addition of a Threshold Signature Scheme [TSS] for Tezos. The latest addition would eliminate the need for using a single atomic private key, as it divides the responsibility among different parties. ZenGo has already implemented the same with the Malta-based Binance exchange’s native token, Binance Coin [BNB].
In a recent update, ZenGo has revealed that the keyless wallet solution would be open-sourcing the code in order to allow other community members to design similar TSS transactions. The firm shared the update with the community via Twitter. The tweet read,
ZenGo further revealed in a blog post that the keyless wallet solution had already added TSS support for Bitcoin, Ethereum, Binance Coin, and Zilliqa. Even though Facebook’s Libra is still in its testnet stage, ZenGo has also implemented a Threshold Signatures Scheme for the coin. As part of its expansion and experimentation with other coins, the keyless wallet solution has chosen Tezos.
Tezos had previously provided ZenGo with a grant to develop TSS for its blockchain.
The implementation of TSS in a blockchain requires it to be developer-friendly, as well as have a mature environment. According to ZenGo, Tezos meets all the requirements. Further, the Tezos blockchain uses the EdDSA algorithm and the Ed25519, similar to that of Libra and Cardano.
Stellar, EOS and Bitcoin Price Analysis and Prediction for September 17th: XLM, EOS, and BTC
As Monday comes to an end, cryptocurrency markets continue to trade sideways. Bitcoin has recently dropped slightly, meaning we could see some bearish pressure in the coming hours. Let’s take a look at some of our favorite cryptocurrencies and see what the charts have in store.
STELLAR PRICE ANALYSIS (XLM/USD)
The XLM/USD pair began the session recording a downside correction above the critical support level $0.0581. An upside rally later followed that pushed the price to test near $0.0589 resistance level. Conversely, the pair’s price is expected to end the session with a positive note as the short-term SMA that has crossed above the long-term SMA suggested so. Additionally, XLM/USD pair moved from $0.0587 to now changing hands at $0.0587 that give a positive outlook.
On the general outlook, XLM/USD pair has been on a sideways move as reflected by the horizontal channels that also acted as the price support and resistance level. Besides, the ranging market suggested lack of dominance in the market momentum.
STELLAR PRICE PREDICTION (XLM/USD)
A notable potential has been reflected by XLM today’s market performance. Thus a break above $0.0589 could lead to a further bullish rally; new targets should be set near $0.0650. Notably, the RSI indicator is currently pointing south that signals a bearish outlook, thereby a break below $0.0580 may lead to a downside move near $0.0400.
EOS PRICE ANALYSIS (EOS/USD)
EOS/USD was also seen walking sideways in the crypto market, with support and resistance level being stood at $4.0299 and $4.1419. However, the market began the session trading at $4.0578 and is currently changing hands at $4.1153 that translate to an upside gain of $1.4% over the intraday.
The market first recorded a fall that later on consolidates for a short-term below $4.0299 before an upside fluctuation that moved the price to a high of $4.1636, it later dropped slightly to the current price. Additionally, a positive outlook is quite possible, especially since the RSI indicator is still hovering above average. Besides, the moving averages also suggest a bullish breakout. It is therefore a recommendation for investors to wait for the price to bounce above $4.0299 to take a long position.
EOS PRICE PREDICTION (EOS/USD)
If the bulls can manage to drag the pair’s price above $4.1419, then an upward price rally near $4.2000 could be encountered. However, a break below $4.0290 might result in a massive decline near $2.5000
BITCOIN PRICE ANALYSIS (BTC/USD)
In the crypto market, the price of BTC/USD has also been inactive with no much going on rather than more ranging movement. Afterward, there is a lack of dominance between the bears and the bulls. Over the intraday, the price of BTC/USD has been trading within resistance level $10338.63 and support level $10273.31. However, at around 16:00, an intense bullish pressure was encountered that breached the resistance level. Nevertheless, rejection of higher prices was seen as the bears pick up the momentum and drop the price to a low of $10308.61 before it embarked to a steady flow.
The pair’s price was escalated from $10311.25 to $10298.00, which is the current price. Looking at the technical indicators, the moving averages, and the RSI is on neutral states that suggest a range-bound for a short-term.
BITCOIN PRICE PREDICTION (BTC/USD)
Despite, a ranging market, a big move is anticipated. According to analysts, a series of exponential moving averages have all aligned on the hourly chart that is expected to give a big move soon. On the downside correction, if the price breaks past $10270.00, then a wick down below $9000.00 is possible but may not last for long.
277 Chinese nationals arrested in Philippines for cryptocurrency scam
Recently, Philippines’ central bank approved two companies to run cryptocurrency exchanges and the country’s boxing champion, Manny Pacquiao released his own tokens. The country is most evidently steering toward increased crypto adoption.
However, along with this, the number of crypto-related crimes seemed to have surged as the Philippine police recently raided an office that reportedly indulged in duping Chinese investors as part of a cryptocurrency scam.
News outlet Inquirer.net reported the incident and revealed that the authorities were notified by the Chinese Embassy about the company that had deceived thousands of investors in China. Authorities who raided the office included agents from the Bureau of Immigration, the Presidential Anti-Corruption Commission and the National Police’s Integrity Monitoring and Enforcement Group.
The office that initiated the alleged crypto scam was Grapefruit Services Inc. and was raided on 11 September in Pasig City. As per the news outlet, a source revealed that the company was an authorized service provider of an offshore cryptocurrency firm, Golden Millennial Quickpay Inc. Ltd and was licensed by the Cagayan Economic Zone Authority [CEZA], a government-owned organization. Previously in February 2019, CEZA put forth a set of rules pertaining to crypto token offerings in order to secure investors.
The company was in trouble after it was found operating outside its registered jurisdiction, detailed the news outlet.
Additionally, the passports of all the employees of the company were canceled by the Chinese government and a total of 277 employees were arrested. All the arrested employees were Chinese nationals and the cancelation of their passports made them unauthorized workers in the Philippines.