bitcoin

Bitcoin Worth $72 million Stolen From Bitfinex Exchange in Hong Kong

HONG KONG, Aug 3 – Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, making it the second-biggest security breach ever of such an exchange. Bitfinex is one of the largest exchanges for bitcoin, and is known in the digital currency community for

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Australian Craig Wright Tells BBC He Is Bitcoin Creator

By Byron Kaye SYDNEY, May 2 – Australian tech entrepreneur Craig Wright has told the BBC he was the creator of controversial digital currency bitcoin after years of speculation about a person who until now has gone by the name of Satoshi Nakamoto. The BBC reported on Monday that Wright gave some technical proof demonstrating

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Britain Looking at Blockchain for Tracking Taxpayer Money, Payments

By Jemima Kelly LONDON, April 26 – The British government is exploring using the blockchain technology that underpins the bitcoin currency to increase efficiency in the distribution of taypayers’ money such as grants, a minister said on Tuesday. A blockchain works as a decentralised ledger that is verified and shared by a network of computers,

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Bitcoin or Broke

Is bitcoin a revolutionary technology or a passing fad for the Middle East? BY Arfa Shahid Despite speed, cost-efficiency and a simplified process, bitcoin, as a cryptocurrency, some argue, has failed to dominate the global financial system. Others, however,  continue to root for it as a future currency. Bitcoin was developed in 2008 by Satoshi

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Cyber-Attacks: Better Safe Than Sorry

Finding an effective weapon to thwart cyber-attacks BY Aji Joseph A few months ago, when cybercrime and extortion organization DD4BC, which stands for ‘DDoS for bitcoin,’ hacked into some of the U.K.’s leading banks and demanded ransom in bitcoins to avoid a total takedown of the system, it was just one in a long list of rising

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Los Angeles Hospital Pays Hackers $17,000 Ransom in Bitcoins

Feb 19 -While it was not the first hacked organization to acquiesce to attackers’ demands, the California hospital that paid $17,000 in ransom to hackers to regain control of its computer system was unusual in one notable way: It went public with the news. Hollywood Presbyterian Medical Center relented to the demands, President Allen Stefanek

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Eleven Big Banks Test Blockchain-Based Trading System

By Jemima Kelly LONDON, Jan 20 – Eleven major banks, including Barclays, UBS and HSBC, said on Wednesday they had tested a system that could make trading much faster and cheaper, using the technology that underpins crypto-currency bitcoin. The banks are part of a consortium of 42 major lenders, brought together last year by New

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