Petya Ransomware Funds Travel Throughout the Tumbling Process

As the mainstream media portrayed it to be the Petya ransomware was mad, and the creators made off with $8,000 in extortion funds. One of the reasons was due to their email being closed down. What is interesting about the Petya ransomware is the hackers chose to use one address to collect funds to multiple addresses used in these kinds of protocols. After a couple of days, the hackers began moving the money to various addresses. Individuals following the funds believe the money was sent through a platform that mixes bitcoins in order to obfuscate the procedure that is sending or a tumblerBitcoin casino beginners guide the best payout for bitcoin casino id=”attachment_52188″ class=”wp-caption aligncenter”>A depiction of a Coinjoin mix or tumbling process and best bitcoin casino 2015.

‘A Vast Majority of Transfers had Over fifty Total Transactions’

According to the publication Quartz these bitcoins will be hard for law enforcement to find. The information outlet says they followed the money as far as they could, but the bitcoins were sent through a series of transfers and among them was a legitimate bitcoin exchange. After the first few jumps, the publication details funds were sent to a”high volume address” which they supposed was the trading platform.

They could only speculate on which transactions belonged to Petya , after this stage Quartz explains.

“We gathered each spent output from that speech, then each spent output from these addresses, and so on,” explains Quartz columnist Keith Collins. “In order to restrict the number of rabbit holes that the crawler followed, we just included transfers which occurred within eight hours of the initial outgoing transaction from the first wallet. We considered high-volume pockets to be wallets that had three or more complete transactions, as returned from the Blockchain.info API, but the huge majority of those had more than ten total trades”

This picture depicts the Petya funds which were mixed through over 2000 addresses.

Taking Action Against Digital Currency Mixers

There are numerous ways for groups and individuals . These include the many other mixing platforms located on the deep web and tumblers like Joinmarket. Further, because they consider these cryptocurrencies provide better anonymity, some users elect to use altcoins such as Zcash and Monerohigh paying bitcoin casino faucet bitcoin casino usa visa In the future, many individuals think better forms of anonymization that is cryptocurrency will be arriving like types of Zero Knowledge platforms and Schnorr signatures. But, law enforcement and government officials have been saying for quite a while that anonymizers and bitcoin mixers should be illegal. As an example, the Basel Institute on Governance, Europol, Interpol, and U.S. officials have been talking about proposals to”take action against digital currency mixers/tumblers.”

Can Law Enforcement Really Follow 2373 Hops?

Details that the Petya funds were estimated to be sent to over 2373 addresses within the duration of the mixing process. “If we knew what bitcoin address or addresses the Petya money ended up in, we’d likely find thousands and thousands of transactions between that address and the starting address,” explains the information outlet. “That is more than we can ever graph.”

The news comes at a time when surveillance companies have become a popular topic, and lately Chainalysis claimed to know the Mt Gox bitcoins’ destination. Forensic companies may be fabricating they can follow these trades, with hackers mixing their coins through a series of transfers.

What do you think about mixing transactions? Do you think when funds are sent through a bitcoin tumbler law enforcement can follow the outputs? Let us know in the comments below.

Images via Shutterstock, Quartz, and Pixabay. 

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Taiwan to Regulate ICOs

FSC Chairman Wellington Koo.

The chairman of Taiwan’s Financial Supervisory Commission (FSC), Wellington Koo, has reportedly confirmed that the commission is drafting national standards for initial coin offerings (ICOs). The FSC aims”to create virtual tokens as simple to invest in as shares and equally as liquid,” the Taipei Times reported on Oct. 23.

In a finance committee meeting, Chinese Nationalist Party (KMT) legislator William Tseng requested Koo if the government would regulate ICOs. Tseng pointed out that 127 ICO whitepapers were discovered to be fake, the book described, including that 80 whitepapers were found to be incorrect as April. The legislator also quoted findings from Satis Group.

The news outlet conveyed the reply of Koo:

The commission would govern ICOs… [but] tokens exchanged for goods, like those used in accruing points at convenience stores or mileage points accepted by airlines, would not be addressed by the standards.

In May, China’s National Committee of Experts on the Internet Financial Security Technology, a Chinese government-backed industry organization, said it found 421 fake cryptocurrencies. Independently, the Wall Street Journal analyzed 1,450 ICOs and”found 271 with red flags that include plagiarized investor records, promises of guaranteed returns and fake or missing executive teams and bitcoin casino best bonus.”

Securities Tokens

Taiwan’s Securities and Futures Bureau Deputy Director-General Tsai Li-ling was quoted from the Taipei Times asserting:

People frequently confuse an ICObest bitcoin casino deposit bonus bitcoin casino no deposit bonus 2016 usa governor of Taiwan’s central bank, Yang Chin-long, told the finance committee that”the government tends to regard cryptocurrencies as virtual commodities or assets rather than currencies, because they have no intrinsic value.”  Tsai elaborated that”cryptocurrency trading is similar to trading in gold, for which the commission just implements money laundering controls.”

If a token functions like a security,”the commission would define it as a’securities token’ and subject it to the Securities and Exchange Act,” the book quoted Tsai describing, including:

The issuer would must disclose information similar to what companies which are publicly traded need to do.

Regarding the time period of the ICO standards,”The draft is to be completed by June next year,” the news outlet detailed, noting that”The commission has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not utilized as securities.”

“The more we regulate, the more this new financial behavior wanes,” Koo was quoted saying. In June, the FSC indicated that it intended to maintain a limited oversight of cryptocurrencies and focus on anti-money laundering measures. In April, news.Bitcoin.com reported that Taiwanese bitcoin regulations are expected by November.

What do you think of Taiwan regulating ICOs? Let us know in the comments section below.

Pictures courtesy of Shutterstock and Wikipedia.

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Source: bitcoincasinoreview.net

Taiwan to Regulate ICOs

FSC Chairman Wellington Koo.

The chairman of Taiwan’s Financial Supervisory Commission (FSC), Wellington Koo, has reportedly confirmed that the commission is drafting national standards for first coin offerings (ICOs). The FSC aims”to make virtual tokens as easy to invest in as shares and just as liquid,” the Taipei Times reported on Oct. 23.

At a finance committee meeting, Chinese Nationalist Party (KMT) legislator William Tseng requested Koo if the government would regulate ICOs. Tseng pointed out that 127 ICO whitepapers globally were discovered to be fake, the publication explained, adding that 80 whitepapers were found to be incorrect as April. Findings were quoted by the legislator from Satis Group.

The information outlet conveyed Koo’s reply:

The commission would regulate ICOs… [but] tokens exchanged for products, such as those used in accruing points at convenience stores or mileage points accepted by airlines, wouldn’t be covered by the standards.

In May, China’s National Committee of Experts on the Internet Financial Security Technology, a Chinese industry organization, said it found 421 fake cryptocurrencies. Independently, the Wall Street Journal analyzed 1,450 ICOs and”found 271 with red flags that include plagiarized investor records, guarantees of guaranteed returns and missing or fake executive teams and bitcoin casino best bonus.”

Securities Tokens

The Securities and Futures Bureau of taiwan Deputy Director-General Tsai Li-ling was quoted by the Taipei Times asserting:

An ICO frequently confuses using cryptocurrencies’ tradingOneHash review governor of Taiwan’s central bank, Yang Chin-long, told the finance committee that”the government will regard cryptocurrencies as virtual commodities or assets as opposed to currencies, because they don’t have any intrinsic value.”  Tsai elaborated that”cryptocurrency trading is like trading in gold, for which the commission only implements money laundering controls.”

If a token functions similar to a security,”the commission would define it as a’securities token’ and subject it to the Securities and Exchange Act,” the book quoted Tsai describing, adding:

The issuer would must disclose information like what companies that are traded need to do.

Regarding the time frame of the ICO standards,”The draft is to be completed by June next year,” the news outlet detailed, noting that”The commission has no intention of controlling the creativity and productivity associated with cryptocurrencies if they are not utilized as securities.”

“The more we govern, the more this new economic behavior wanes,” Koo was quoted saying. In June, the FSC indicated that it intended to maintain a limited oversight of cryptocurrencies and focus on anti-money laundering measures. In April, news.Bitcoin.com reported that Taiwanese bitcoin regulations are expected by November.

What do you think of Taiwan regulating ICOs? Let us know in the comments section below.

Pictures courtesy of Shutterstock and Wikipedia.

Have to compute your bitcoin holdings? Check our tools department.

Source: bitcoincasinoreview.info

Suchflex Turning Idle Computing Power Into an Incentivized Distributed System

A lot of people leave their computers running 24/7, and that power can be turned by Suchflex to a passive income.

The Alchemist Accelerator-funded startup aims to build without owning servers, the world’s largest data centre service. Its stage has been in beta since August and has been scaling operations since then.

At present, the platform has 6,000 active users and more than 600 computers contributing at any one time. Contributors can make money from the background and redeem funds at any time and bitcoin casino free spins usa. Gaming rigs can earn than the typical computer. Together with the aspect, corporate subscribers cover the computational resourcesfortunejack bitcoin casino bonus code bitcoin casino no deposit bonus codes Additionally, Suchflex uses cryptocurrencies to finance the system and as rewards for computer processing power.    

“Aside from selling computing tools to Machine Learning SMEs, Suchflex monetizes contributors’ computers using digital currencies. Digital currencies provide a consistent monetization coating for contributors of funds to the Suchflex network,” founder and CEO Ivan Zone told Bitcoin.com.

Serving Gamers and Bitcoin

Suchflex was founded by Ivan Zone. Zone has a background in machine learning understanding and trading algorithms. Co-founder and CTO John Heeter is a designer and developer in the gaming industry. The gaming industry and an important role in the Suchflex market play, with 50 percent of users being busy PC gamers.

Additionally, the decentralized movement is strongly supported by the Suchflex teambest bitcoin casino usa reviews bitcoin casino us bonus code signup We were told by founder Ivan Zone while discussing this future with Bitcoin.com :

Suchflex is motivated by and invested in the future of decentralized economies. To help realize that future, Suchflex provides volunteer Bitcoin full-nodes support to its users. Suchflex Bitcoin service is the easiest way to conduct a Bitcoin full-node on a laptop or PC. By conducting a Bitcoin full-node, users allow Bitcoin to continue to grow. Suchflex takes a neutral stance on the sort of full-nodes users should operate, giving them the choice of: Core, Unlimited, Classic and XT.

Suchflex Is Leaving Public Beta Soon

Its platform to be the app with users utilizing and benefiting breakthrough blockchain technology is wanted by the Suchflex team. Users simply choose whether to share GPU CPU and storage . Suchflex customers can elect to redeem USD or bitcoin through other payment processors or Coinbase.

The company is also currently enrolled in the San Francisco Alchemist Accelerator program. Right now, the firm retains the #1 spot for the”Enterprise startups and Fundraising” class. Suchflex is planning to depart its beta soon after Demo Day in January of 2017.  It is encouraging people to register for an account and take advantage of the promotions it is offering users.

What do you consider the Suchflex platform? Let us know in the comments below.

Images via Suchflex site and Shutterstock.

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