It is common mythology that Bitcoin users are thieves, hackers and tax cheats. The IRS doesn’t like tax cheats. The IRS is asking a court for a “John Doe” summons asking Coinbase, a Bitcoin exchange, to turn over information on any customers that match a certain criteria. The summons applies as long as the government […]
Continue reading → [DISPLAY_ACURAX_ICONS]A lot of big financial institutions are ‘investigating’ the use of the blockchain technology that the digital currency Bitcoin uses. I would point out that this is very different that endorsing the use of Bitcoin. In 2014 the Mount Gox Bitcoin exchange filed for bankruptcy after a breach lost $460 million. In May of this […]
Continue reading → [DISPLAY_ACURAX_ICONS]What happens when criminals make off with $2 million in cyber currency? That is a good question. The Bitcoin exchange Gatecoin, based in Hong Kong, detected the breach on May 13th. If you put your money in the bank, those deposits are protected by Federal law in the case of fraudulent transactions and protected by […]
Continue reading → [DISPLAY_ACURAX_ICONS]Bitstamp, a European bitcoin exchange, suffered a breach on January 4th of this year. According to a breach report apparently prepared for Bitstamp, the breach was a result of a determined adversary and a very typical but rookie mistake on the part of a Bitstamp administrator. The breach cost Bitstamp 18,997 bitcoins worth a little over […]
Continue reading → [DISPLAY_ACURAX_ICONS]