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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Dutch Arrest 10 Men Suspected of Using Bitcoin to Launder Money

AMSTERDAM, Jan 20 – Ten men suspected of using the digital currency Bitcoin to launder up to 20 million euros of criminal money made from online drug deals have been arrested in the Netherlands, Dutch prosecutors said on Wednesday. The men, described as all in their 20s and with Dutch nationality, were arrested on Tuesday

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