The Loudest and Boldest Crypto Crimes of All Times

The Loudest and Boldest Crypto Crimes of All Times

While the crypto industry provides a large surface for creators,companies and innovative technologies to develop and thrive on, it is also a good opportunity for scammers, hackers and thieves to get hold of big amounts of money or take down important sites.

Today we will discuss the people who managed to make it into the headlines of multiple news outlets due to their outrageous crimes.

1. Icelandic miners in China

This story seems unbelievable from the title. Basically, what happened is: a group of Icelanders stole a huge amount of mining equipment, including computers, video cards, CPU processors etc. The total cost of all the stolen things equaled to over 2 million dollars.

Some arrests were made, but a couple of criminals managed to escape to China where they unfolded their illegal mining activities. However, hapless miners did not take into account the fact that such intensive mining required a whole lot of electricity, and such an unusual level of electricity consumption drew attention of the Chinese police.

All the equipment was arrested, and at the moment the police from Iceland and China are negotiating on what to do with the criminals.

2. A young hacker from Cali

A couple of months ago, the American police took into custody a 20-year-old college student named Joel Ortiz. This young man managed to go things that people twice as old would never be able to do.

Ortiz hacked cell phones of over 40 different people using the technique called SIM-swapping. By doing so, he added over 5 million USD to his bank account.

Unfortunately (for him), this also brought him 28 charges in court and a not very bright future ahead.

3. An Indian government conspiracy

Here we come with a good old scam. But this one is no ordinary scam like the ones that appear on Twitter every once in a while. This scam involved the members of the ruling party of the Indian government and whopping $750 million.

According to an Indian Congressman, some of the people occupying the highest positions in the government were covering up a major scam involving Bitcoin. The whole scheme was so well-planned and complex, that it was pretty much impossible to solve this case.

The accused politicians obviously denied all the accusations, and both parties keep barking at each other until this day.

Here were three crypto crime cases, solved and unsolved, that stood out due to their unusual nature, amounts of money stolen and even brilliance of execution. Anyway, none of them really deserve admiration, because all of these criminals caused a lot of trouble. Hopefully, our today’s characters and all of their “colleagues” will be punished for what they did, and the crypto industry will become a bit cleaner.

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OKEx Adds 4 Stablebcoins To Its Listing

A well-known cryptocurrency exchange OKEx announced the support of four stablecoins on its official Twitter account, namely: TrueUSD, USD // Coin, Gemini Dollar and Paxos Standard Token.

Starting from October 15, the platform users will be able to make deposits with these assets. Bidding will start the next day. Tokens will be traded not only in pairs with BTC, but also with Tether.

We also remind, an Internet giant GMO Internet announced the release of its own stablecoin, which will be backed by yen:

Japanese Internet Giant Launches Its Own Yen-Pegged Stablecoin

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Bitcoin Is in Danger: Chinese Hegemony Over the Industry

In June, we mentioned that according to the Ripple’s CEO, China owned about 50% of Bitcoin as there were 4 major mining pools which produced them. As the time has passed, the figures have also raised quite impressively.

As the research of Princeton University and Florida International University shows, now China account for 75% of the whole mining activity of Bitcoin, i.g. #1 cryptocurrency now has large geographical centralization. The biggest threat is that the Chinese authorities may start controlling it or even influencing its stability and security.

The study reports, since 2015, more that a half of total hash power has been composing by the mining pools based in China. One of those is an infamous company – Bitmain. Moreover, the research tells about the ways China can harm Bitcoin.

China adopted a nasty attitude towards Bitcoin long ago, thus nothing can prevent it from attack Bitcoin, thought hegemony over the network still does not allow the Chinese government to destroy it. Bitcoin is a decentralized network, but Chinese authorities spare no effort to control it, as it does to the whole China.

The report has summed up that China brings danger to Bitcoin. We remind you

Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

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Cryptocurrency Prices Today, October 15: Cryptocurrencies Are Growing

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) added 4.21% over the past 24 hours. The price at the time of writing is $6589 per coin.

Cryptocurrencies are in a stable green zone:

Bitcoin Cash added 3.47% over the past 24 hours and costs $462 per coin;

Ripple grew by 6.13% and costs $0.44;

EOS gained 3.55%, and its price is $5.43;

Litecoin increased by 2.15%, and its value is $54;

Cardano added 1.62%, and its cost is $0.074;

Stellar became more expensive by 3.02% and is $0.22 in price;

IOTA added 1.72%, and its cost is $0.58;

Dash gained 2.67%, and its price is $164;

Monero grew by 2.96% and is $105 in value.

Over the past 24 hours, Ethereum added 4.45%. The cost of the coin is $209.

The total market capitalization is $211 billion. Bitcoin accounts for 54.2% of the total. In monetary terms, it is $114 billion.

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Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

The Hurun Research Institute published an annual list of the richest entrepreneurs in China in 2018. This time, there are 13 businessmen who got listed there, they are somehow connected with mining cryptocurrency or owning crypto exchanges.

The highest position in the ranking among 13 crypto-personalities was taken by Zhan Ketuan, the founder of Bitmain. His assets, in total, are worth 29.5 billion yuan ($4.25 billion), which allows him to take #94 line in the list.

Next comes Wu Jihan, co-founder of Bitmain Technologies, whose capital counts for 16.5 billion yuan, he is at #240 position in the rating.

Despite the downturn in the cryptocurrency market, the founders of the world crypto exchanges still managed to make a pretty big fortunel. Zhao Changpen (Binance) – $2.1 billion, Li Ling (Huobi) – $1.4 billion, Star Xu (OkCoin) – $1 billion.

Jack Ma, the founder of Alibaba, is also worth mentioning who tops this rating. His equity totals $39 billion, allowing him to become China’s richest entrepreneur.

We remind you

Forbes Published A Ranking Of The Wealthiest Americans, Is there Any Crypto-Related Person?

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A Fake Account of Elon Musk Organized a Cryptocurrency Giveaway

elon musk was involved in a twitter scam

A Twitter account that pretended to be the CEO of Tesla, Elon Musk, tried to fool the community into sending him/her Bitcoins. The weird fact is that this account had a verification check which could possibly deceive a lot of people.

The original tweet was quickly deleted, but some users managed to document the evidence.

This scam raised a new wave of criticism because of the social networks’ inability to protect their users from scams and frauds.

We remind you:

Elon Musk: “I Want Ethereum, Even If It’s a Scam”

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