US seizes $1bn in bitcoin linked to Silk Road site

DoJ is suing for formal forfeiture of funds after tracking down the person holding them

The US government has seized more than $1bn worth of bitcoins connected to the shuttered darknet marketplace Silk Road and is suing for formal forfeiture of the funds.

The case is the biggest cryptocurrency seizure in history, and explains why the bitcoins changed hands this week. Analysts had noticed the transfer on the public blockchain and speculated that it was either due to an unknown Silk Road co-conspirator attempting to cash out, or because the funds had been stolen by hackers.

Continue reading...

Unicef now accepting donations through bitcoin and ether

Use of cryptocurrencies allows children’s agency to bypass fees of moving cash overseas quickly and increase financial transparency

The UN children’s agency, Unicef, has announced it is accepting and disbursing donations through cryptocurrencies ether and bitcoin.

Unicef’s new Cryptocurrency Fund is the latest in a series of efforts by aid organisations to experiment with “blockchain” currencies, which have the potential to transform charitable giving and increase financial transparency.

Continue reading...

Australian who says he invented bitcoin ordered to hand over up to $5bn

US court orders Craig Wright to share cryptocurrency haul with the estate of American programmer David Kleiman

The Australian man who claimed to have invented cryptocurrency bitcoin has been ordered to hand over half of his alleged bitcoin holdings, reported to be worth up to $5bn.

The IT security consultant Craig Wright, 49, was sued by the estate of David Kleiman, a programmer who died in 2013, for a share of Wright’s bitcoin haul over the pair’s involvement in the inception of the cryptocurrency from 2009 to 2013.

Continue reading...

$32m stolen from Tokyo cryptocurrency exchange in latest hack

Bitpoint suspends services after apparent theft of virtual monies including bitcoin

A cryptocurrency exchange in Tokyo has halted services after it lost $32m (£25m) in the latest apparent hack on volatile virtual monies.

Remixpoint, which runs the Bitpoint Japan exchange, discovered that about ¥3.5bn in various digital currencies had gone missing from under its management.

Continue reading...

China’s state planning agency seeks to ban bitcoin mining

Cryptocurrency mining added to list of industrial activities Beijing wants to phase out

Related: Bitcoin and cryptocurrencies – what digital money really means for our future

China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.

Continue reading...

How CEO helped traffickers

American authorities say the chief executive of a Vancouver-area company has pleaded guilty to aiding narcotics traffickers around the world by providing encrypted communications devices designed to thwart law enforcement. Vincent Ramos, CEO of Phantom Secure, was arrested March 7 in Bellingham, Wash., near Seattle, following a years-long undercover operation that included several American, Australian and Canadian agencies.

Bitcoin speculators dominate cryptocurrency use now, but criminals haven’t backed away

The ratio of legal to illegal activity in bitcoin has flipped, according to Lilita Infante at the U.S. Drug Enforcement Administration. When Infante started seeing bitcoin pop up in her cases at the DEA five years ago, her analysis of blockchain data showed criminal activity was behind about 90% of transactions in the cryptocurrency.

Bitcoin a shadowy realm as U.S. weighs security clearances

As the Pentagon struggles to recruit a more tech-savvy workforce, it's facing the confusion of many an old-timer: What to make of people who invest or trade in bitcoin. The question is whether owning bitcoins or lesser-known cryptocurrencies such as Ripple and Ethereum is an indicator of risky personal behavior -- one that should flag extra scrutiny in security clearances -- or just another investment choice.

Congress Sets Sights on Federal Cryptocurrency Rules

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in the Senate and House of Representatives for action to address the risks posed by virtual currencies to investors and the financial system, they said.

John Alexander retains Bennelong in by-election

'You p****d away your career being a spoiled brat': Craig Sager's daughter Kacy destroys axed ESPN reporter Britt McHenry in epic Twitter rant over family insult Cringeworthy moment Trump's pick for lifetime federal judge appointment fails to answer BASIC questions about the law and admits never having tried a case in brutal confirmation hearing hearing Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare penalty, expands child tax credits, dramatically lowers corporate taxes and opens up new Alaska oil drilling The man who stole my childhood: Dylan Farrow shares her grief at the release of Woody Allen's new movie being celebrated by stars Kate Winslet and Justin Timberlake Off the menu: Morgan Spurlock's 'Super Size Me' sequel is pulled from the Sundance Film Festival after his shocking sexual misconduct confession 'A bubble almost guaranteed to burst': Wolf of ... (more)

LI woman laundered $85K to support Isis: Feds

A Long Island woman has been charged in federal court in Central Islip with laundering more than $85,000, using Bitcoin and other cryptocurrencies, to support ISIS, officials said Thursday. Zoobia Shahnaz of Brentwood transferred those funds out of the country and then attempted to leave the United States and travel to Syria, according to the U.S. Justice Department.

Leon Cooperman: US Would Be in Recession If Hillary Had Won Presidency

Billionaire hedge fund manager Leon Coopermancontends that U.S. would be mired in an economic recession today if Hillary Clinton had won the 2016 presidential election. The nation is better off with President Donald Trump in the White House than it would have been under Clinton or her 2016 rival for the Democratic nomination, Sen. Bernie Sanders, Cooperman told CNBC.