FBI Publishes PSA About Tech Support Fraud Targeting Cryptocurrency Holders

FBI releases PSA about increasing frequency of tech support fraud, now targeting cryptocurrency investors.

The FBI’s Internet Crime Complaint Center (IC3) has published a public service announcement on March 28 warning about the prevalence of scammers posing as tech support for a variety of industries, including the cryptocurrency sector.

The announcement defines tech support fraud as a “criminal claiming to provide customer, security, or technical support in an effort to defraud unwitting individuals,” and references the increasing frequency of this type of fraud leading to criminals“pos[ing] as government agents, even offering to recover supposed losses related to tech support fraud schemes or to request financial assistance with ‘apprehending’ criminals.”

Tech support fraud, which can occur through the telephone, search engines, pop-ups, locked screens, and phishing emails, is now also being perpetrated through the new targets of virtual currency exchanges, according to the FBI’s PSA.

The section on the new variations and trends of this type of fraud notes that virtual currency fraud has led to “individual victim losses often in the thousands of dollars.” The scam is carried out by a criminal who pretends to be a virtual currency service’s support representative in order to gain access to a crypto holder’s wallet, then transferring all of the crypto out while the fake “maintenance” is taking place, only to “cease all communication” and disappear with the funds.

The FBI suggests that the public update their ad-blocking and anti-virus software, examine customer support numbers found on search engines more carefully, and “resist[s] the pressure to act quickly” in online tech situations, as “criminals create a sense of urgency to produce fear and lure the victim into immediate action.”

Victims of any tech support fraud scams are asked to immediately report the incidents in as much detail as possible to the IC3.

In January of this year, the IC3 warned the public about a different new method of cryptocurrency extortion – false death threats to individuals that requested crypto and fiat ransoms to spare their lives.

Source: Coin Telegraph




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Huobi Officially Launches in South Korea with 100 Cryptocurrencies

Huobi Officially Launches in South Korea with 100 Cryptocurrencies

Huobi has officially launched in South Korea. The platform facilitates the trading of 100 cryptocurrencies and 208 markets. The exchange is also creating an investor protection fund and program to immediately compensate for any losses that are not investor error.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Huobi Korea Launched

Huobi Korea, a subsidiary of the Beijing-based crypto trading service provider Huobi, announced that it has officially launched on March 30.

Huobi Officially Launches in South Korea with 100 Cryptocurrencies

“Huobi Korea will list 100 coins and 208 markets (33 USDT markets, 98 BTC markets, 77 ETH markets),” Zdnet detailed. The exchange stated that it stores 98% of its customer assets in cold wallets. Furthermore, the exchange’s internal access procedure has been strengthened, according to the publication. “In order to open the repository, we have added security to complex procedures that require multiple people to authenticate together,” the news outlet conveyed, and quoted an official of the exchange explaining:

We are also creating an investor protection fund and run an investor protection program to immediately compensate for losses that are not investor error.

100 Cryptos

Huobi confirmed on Thursday that “In Huobi Korea, 100 coins can be traded,” noting that the exchange “will try to support more and more coins trading.”

Huobi Officially Launches in South Korea with 100 CryptocurrenciesThe supported cryptocurrencies, according to Huobi, include DAT, DBC, DGD, DTA, EDU, ABT, ACT, ADX, AIDOC, APPC, AST, BAT, BCD, BCH, BCX, BIFI, BLZ, BTC, BTG, BTM, CHAT, CMT, CTXC, CVC, LINK, LSK, LTC, LUN, MANA, MCO, MDS, ICC, IOST, ITC, ICC, IOST, ITO, EKO, ELA, ELF, ENG, EOS, ETC, ETH, EVX, GAS, GNT, GNX, MTP, MTL, MTN, MTX, NAS, NEO, OCN, OMG, ONT, OST, PAY, POWR, PROPY, QASH, QSP, QTUM, QUN, RCN, RDN, REQ, RPX, RUFF, SALT, SBTC, SMT, SNC, SNT, SOC, SRN, STK, STORJ, SWFTC, THETA, TNB, TNT, TOPC, TRX, USDT, UTK, VEN, WAX, WICC, WPR, XEM, XRP, YEE, ZEC, ZIL, ZLA, and ZRX.

Korean Won Support Coming Soon

Huobi Officially Launches in South Korea with 100 CryptocurrenciesAs for the Korean won trading, Huobi Korea wrote, “the KRW market is in the process of being prepared and will be available soon.”

The lack of won trading is likely due to the South Korean regulation which enforced the real-name system at the end of January. Since its implementation, Korean banks have only been issuing virtual accounts to the country’s largest four exchanges – Upbit, Bithumb, Coinone, and Korbit. However, Money Today reported on Thursday that a major bank in Korea, Shinhan Bank, is in talks to start issuing virtual accounts to a smaller crypto exchange, Coinplug.

The official from Huobi Korea was quoted by Zdnet saying:

We are concentrating our ability to prepare for the rapid opening of the Korean won market…All employees will work hard to provide safer and more stable trading services.

Huobi’s Global Expansion

Huobi is currently the third largest crypto exchange globally with a 24-hour trading volume of $1.32 billion at the time of this writing. South Korea’s largest exchange is the Kakao-backed Upbit with a trading volume of $745 million during the same time period.

Before China closed down cryptocurrency exchanges, Huobi was among the largest in the country. Today, the company has a presence in six countries – Korea, Singapore, USA, Japan, Hong Kong and China.

Last week, Huobi registered with the U.S. Financial Crimes Enforcement Network in preparation for its U.S. launch. Meanwhile, Japan’s SBI Group has stopped the capital and business tie-up with Huobi Group.

What do you think of Huobi’s launch in South Korea? Let us know in the comments section below.


Images courtesy of Shutterstock and Huobi Korea.


Need to calculate your bitcoin holdings? Check our tools section.

The post Huobi Officially Launches in South Korea with 100 Cryptocurrencies appeared first on Bitcoin News.

Source: Bitcoin News




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

These Are the Worst Performing Cryptocurrencies of 2018 – So Far

These Are the Worst Performing Cryptocurrencies of 2018

2018 has been a tough year for cryptocurrencies. It all started so promisingly, as January broke with the promise of $3 ripple and, in tron, an altcoin that was up 14,000% in 30 days. Things swiftly went south from there, and have been sinking ever since. Judged by their all-time high (ATH), the following coins are 2018’s greatest fallen angels.

Also read: Chinese Investors Use Wechat Brokers to Bypass ICO Ban

Meet 2018’s Worst in Class

Having shed $600 billion in three months, the cryptocurrency markets are having a torrid time. They’ll rally eventually, and when they do, more all-time highs may even be back on the agenda. With every single cryptocurrency mired in the red, singling out altcoins for underperforming seems a little unfair. But even without obsessing over USD value, analyzing the coins that have dropped the furthest from their ATH reveals 2018’s most over-hyped assets.

These Are the Worst Performing Cryptocurrencies of 2018

Recording the percentage drop and number of days since a coin reached its all-time high has become a popular metric on crypto tracker sites. In addition to Onchainfx, there’s now a dedicated site in the form of ATHcoinindex.com. Excluding coins whose ATH was fleetingly achieved as the result of a pump and dump, the biggest losers of this year is plain to see.

Lying in the Gutter While Looking at the Moon

Bitcoin Diamond: Astonishingly, someone once paid $105 for this garbage. It’s currently trading at $2.19. That’s a 98% retrace.

Bitcoin Gold: Spot the recurring theme. Bitcoin forks that add no real value have been hit the hardest. BTG somehow once traded at over $500. Now it’s sitting at $45, and even that feels expensive.

Einsteinium: This shitcoin has gone from  $2.83 to $0.11 in 101 days, and the team have only got themselves to blame. The coin dumped following a “big announcement” that proved to be anything of the sort, and the crypto bear market took care of the rest.

These Are the Worst Performing Cryptocurrencies of 2018
Cryptocurrencies ranked by the number of days since their ATH

Siacoin: It’s hard not to feel sorry for sia, which has had a tough year, what with Bitmain ASICs threatening its algorithm and increased competition from decentralized storage tokens. Sia’s down 90% in just 83 days.

NEM: NEM’s 2018 resembles Britney Spears’ 2007. First it pumped. Then it dumped, after Coincheck lost half a billion NEM in the biggest hack of all time. Then it pumped again after Coincheck began reimbursing victims of the hack. And now it’s dumped again and is sitting at $0.22, down 89% from its peak of $2.09.

These Are the Worst Performing Cryptocurrencies of 2018

Cardano: Like other entrants on this list, cardano isn’t a total shitcoin. It simply got pumped too fast, too soon amidst January’s ebullience and now it’s paying the price, down 89% in 85 days.

Verge: And then there’s verge, which was destined to dive deep the moment John McAfee began shilling it. The fact that the supposed privacy coin’s fundamentals are a mess and its developers can’t stop failing hasn’t helped either. Still, things are looking up. In just two weeks’ time, the verge team will announce the new partnership their community has stumped up $3 million for, whereupon a moon mission surely beckons. Surely.

Bytecoin: An 88% retracement isn’t justice enough for this bonafide scamcoin. And nothing of value was lost.

Digibyte: If there’s one thing digibyte can be relied on, it’s to disappoint. It’s down 88% in 82 days.

Ripple: If any coin encapsulates the altcoin mania that characterized the nascent days of 2018, it was ripple. It’s down 87% in 85 days, despite Ripple announcing a string of partnerships and pilot programs. Still, word on the street is Coinbase is going to list it any day now…

These Are the Worst Performing Cryptocurrencies of 2018

A Plea of Mitigation

The above coins are 2018’s worst performers in a close-run race that includes the likes of SALT, Gnosis, Civic, and Status. While these coins were clearly overbought and over-hyped, their decline owes a lot to bitcoin’s slippage. Some of these coins will recover when bitcoin starts to mend, while others will fade into oblivion, and not before time.

Do you think these altcoins have a chance of surpassing their all-time high again? Let us know in the comments section below.


Images courtesy of Shutterstock, Twitter, and Fox.


Need to calculate your bitcoin holdings? Check our tools section.

The post These Are the Worst Performing Cryptocurrencies of 2018 – So Far appeared first on Bitcoin News.

Source: Bitcoin News




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Cisco Developing Confidential Communications Via Blockchain In Patent Filing

IT giant Cisco has filed a patent for a Blockchain-based confidential group messaging system, aimed at ensuring more secure communication.

Cisco, a worldwide leader in IT and networking, is developing a method of confidential group communications based on Blockchain technology, according to a patent application released by the US Patent and Trademark Office (USPTO) March 29.

In the application, the company describes the way Blockchain can ensure more confidential and secure group messaging, file sharing, and tracking of membership history. The technology in the patent intends to address common challenges faced by ad hoc messaging groups:

“How group membership is established, communicated, updated, and secured from unauthorized tampering are common problems for which a construct is not available that can be effective in the context of dynamic, decentralized, and self-organizing group.” 

“This method permits ad hoc and decentralized group definition, dynamic and decentralized membership updates, open sharing, tamper resistance, and tracking of membership history.”

The method suggests establishing a secured network by using cryptographic keys. Only authorized participants will be allowed to join a group chat based on the aforementioned decentralized network.

The genesis block, which "defines the initial set of group members", is generated by the first participant. All actions of the chat, including adding and deleting members to the conversation, will be recorded in the subsequent blocks. Other possible applications of this technology suggest not only text messaging but also file sharing and even streaming media:

"In summary, presented herein is a method for achieving authorization in confidential group communications in terms of an ordered list of data blocks representing a tamper-resistant chronological account of group membership updates… There are many applications of these techniques. One such application is enabling end-to-end encryption of instant messaging, content sharing, and streamed media. This is useful in developing a protocol or application designed to enable confidential group communications."

Filed in December 2017, the document is a continuation of a previous application, where Cisco proposed to apply Blockchain to track Internet of Things (IoT) devices.

The publication of a patent application can grant the applicant certain provisional rights to the technology therein. If a patent is granted, the applicant can receive a reasonable royalty for infringing activity occurring from the date of publication of the patent application to the issue date of the patent.

Source: Coin Telegraph




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Bitkan CEO Discusses China, Bitcoin Cash, and the ‘K Site’

Bitkan CEO Discusses China, Bitcoin Cash, and the 'K Site'

During the Satoshi’s Vision Conference in Tokyo, news.Bitcoin.com spoke with the CEO of Bitkan, Fang Yu, about the recent regulatory actions against cryptocurrency exchanges in China alongside her company’s new venture a vertical paid market called the Bitkan ‘K Site.’ The project will attempt to establish a decentralized media outlet that offers incentives to content creators, readers, and the sharing economy. Fang Yu explains that the K Site will also provide a native token called ‘KAN,’ a micro-blog, videos, articles, Q&A forums, and more.

Also read: Massachusetts Censures Five ICO Crypto Startups in a Single Day

Bitkan CEO Discusses China, Bitcoin Cash, and the 'K Site' Bitkan plans to launch the K Site around April 20th, and the token will be cross-funded and not sold as an initial coin offering (ICO). The project is backed by investors such as Bitmain, IDG, FBG, Huobi, and others. The Shenzhen-based company’s CEO Fang Yu believes that a free and equal community culture is needed online and one that is reward based. This way a community can reflect on the ecosystem’s actual business instead of a community built on artificial demand.        

Bitkan’s CEO Fang Yu Discusses the Upcoming ‘K Site’ 

News.Bitcoin.com (BC): What happened last year with Bitkan’s OTC exchange?

Fang Yu (FY): Last year as you must know the Chinese government released some regulatory guidelines towards ICOs, and also the officials shut down exchanges. But later on, some exchanges secretly were using another way to reopen their trade. At the time Bitkan was still a company registered in China, and we thought we should follow the government’s guidance. So we shut down our OTC exchange, and Bitkan was the first OTC exchange to shut down.

BC: Can you tell our readers what Bitkan is doing now?

FY: So many people know Bitkan because of the OTC exchange, but Bitkan is also well known as a news service application. We’ve been established in China since 2013, so we have years of history in the industry. We still have lots of users, and so after we had shut down the OTC exchange, we noticed even after that happened our user base was still growing. It showed us with the users that demand is still increasing for our services. We also noticed in the industry last year the industry saw a huge blooming, but still, there are some problems.

For instance, in our region, we saw a lot of fake news and many new media outlets without responsibility. We hope that with our reputation and user base our platform can offer high-quality content and help gather the actual value of the industry. We want our platform to provide real content so our users can get it directly.

Bitkan CEO Discusses China, Bitcoin Cash, and the 'K Site'
The CEO of Bitkan, Fang Yu.

BC: So there is a token involved with this platform?

FY: The token is called KAN, and it is based on the Ethereum blockchain. An ICO token is not our goal; we wish to share the value of our token with our investors and our partners, which include tech media and other experts who are devoted to this industry and who can create high-quality content. We want the K site to be a decentralized platform. Decentralized is not just a technological thing but also an economic experience. It’s like the spirit of this industry, and we wish to share the economic growth, this project will not be ICO we will be cross funding.

BC: Are you positive or negative about the Chinese government allowing cryptocurrency trading again?

FY: So as far as we can see in the short term, the Chinese government won’t be positive towards the cryptocurrency industry. Now they are paying a lot of attention to blockchain technology. They want to use this technology to have a positive effect on the traditional industry as they think it is some kind of ‘revolution.’ For now, the Chinese government hasn’t released any new regulation towards the cryptocurrency industry. Which means they don’t have any changes to add towards the cryptocurrency environment. This is why Bitkan is looking into opportunities overseas. For example, we already have an office in Hong Kong, and Singapore to develop our community media business in these countries.

For now, we can see in China there are a lot of new blockchain projects — hundreds — and there are a lot of blockchain investors in the country. Most of these projects don’t show anything practical or any real applications.

It’s just some thinking and a white paper. But this direction is appealing to the government attitude which supports blockchain technology. For us, we think its another bubble, and it’s more dangerous than cryptocurrency.

BC: What are your thoughts on the scaling debate, and how do you feel about this event [Satoshi’s Vision] being a bitcoin cash-centric conference?

FY: In my opinion, we can see the bitcoin core team’s previous actions over the course of the years.

Which has led to bitcoin transactions becoming slow and the fees were quite high which gave the user experience trouble. They were afraid to transfer bitcoin between each other, but for bitcoin cash, the community is more open.

The technology is more open too, and they are very close to the real users who use cryptocurrencies daily for payments. In the future, Bitkan will use bitcoin cash as the fundamental option for content payment. We will use our action so users can choose which is the best cryptocurrency for them.

What do you think about Bitkan’s new venture called the K Site and the developments in China towards cryptocurrencies and blockchain projects? Let us know what you think in the comments below.


Images via Pixabay, Bitkan, and Fang Yu. 


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The post Bitkan CEO Discusses China, Bitcoin Cash, and the ‘K Site’ appeared first on Bitcoin News.

Source: Bitcoin News




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported