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US Federal Officials Recover $2.3M Bitcoin Ransom Paid To Colonial Pipeline Hacker Gang

US Federal Officials Recover $2.3M Bitcoin Ransom Paid To Colonial Pipeline Hacker Gang

Federal officials with a United States government task force have managed to recover over $2 million in crypto paid by Colonial Pipeline to the DarkSide Hacking Group that choreographed a devastating ransomware attack that crippled the East Coast oil pipeline, the Department of Justice announced on June 7. Colonial Pipeline paid a staggering $4.4 million […]

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US Federal Officials Recover $2.3M Bitcoin Ransom Paid To Colonial Pipeline Hacker Gang

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Federal officials with a United States government task force have managed to recover over $2 million in crypto paid by Colonial Pipeline to the DarkSide Hacking Group that choreographed a devastating ransomware attack that crippled the East Coast oil pipeline, the Department of Justice announced on June 7.

Colonial Pipeline paid a staggering $4.4 million in bitcoin to the Russia-based hacker ring to regain control of its systems which had ceased operating for close to a week last month. At the time, the firm was forced to stop the transportation of fuel across the US East Coast — subsequently causing oil shortages in several US states.

Speaking during a press conference on Monday, Deputy Attorney General Lisa Monaco indicated that Colonial Pipeline contacted lawforcement, allowing the U.S. task force to retrieve the bitcoin. This ransomware task force was created by the DoJ. “Today we turned the table on DarkSide. The Department of Justice has found and recovered the majority of the ransom paid,” Monaco said.

Monaco further posited:

“The sophisticated use of technology to hold businesses and even whole cities hostage for profit is decidedly a 21st century challenge, But the old adage ‘follow the money’ still applies. And that’s exactly what we do.”

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Documents filed with the U.S District for the Northern District of California indicate that the government seized 63.7 BTC ($worth 2.3 million) out of the 75 BTC that was paid to the hackers. The recovered bitcoin was transferred to an address whose private key is in the possession of the FBI. 

At the moment, the Darkside ransomware thugs still have approximately $2 million worth of crypto. The development was first reported by leading news publication CNN.

During the same press conference, FBI Deputy Associate Paul Abbate noted that the federal investigators seized the BTC from a wallet used to pay the ransom demand, thus preventing the DarkSide rogue hackers from using it.

Ransomware attacks have been roiling businesses and governments across the globe in recent months. One common denominator in these kinds of attacks is that the crooks demand to be paid in bitcoin or monero, primarily because of their perceived privacy.

The news comes as U.S. President Joe Biden is preparing to embark on his first trip abroad where he is expected to hold talks with G7 leaders and Russian President Vladimir Putin about how to prevent and deter ransomware attacks.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/us-federal-officials-recover-2-3m-bitcoin-ransom-paid-to-colonial-pipeline-hacker-gang/

Blockchain

Insights Into the World-Changing Potential of On-Chain Gaming

Blockchain technology and the decentralization movement are set to disrupt many industries, but perhaps none more than gambling. By bringing transparency to a once-opaque industry, on-chain gaming promises to shine a light onto a sector characterized by intransparency and a lack of fairness. What is Decentralized Gambling? Decentralized gambling takes control away from centralized organizations …

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Blockchain technology and the decentralization movement are set to disrupt many industries, but perhaps none more than gambling. By bringing transparency to a once-opaque industry, on-chain gaming promises to shine a light onto a sector characterized by intransparency and a lack of fairness.

What is Decentralized Gambling?

Decentralized gambling takes control away from centralized organizations which typically operate gambling sites. This design model opens the doors to player-centric mechanisms, one of which provable fairness. 

Insights Into the World-Changing Potential of On-Chain Gaming

All payouts and bets are verifiable with all transactions recorded on-chain, thereby leaving platforms with no choice but to acknowledge all activities carried out by players. With this model, no longer can casinos mess with the outcome of wagers or insist that a specific winning bet was never played. 

Decentralized gaming and gambling can also include the notion of community governance and utility tokens. With tokens available to the community, players have a stake in the platform, potentially reducing their house edge, being subject to rewards, earning a share of revenue, and providing a genuinely decentralized business model where no single party controls the mechanics of the site.

Insights Into the World-Changing Potential of On-Chain Gaming

Why Are Traditional Online Casinos Unfair?

Even if land-based casinos are well regulated, and the house edge is discernible, online casinos pose enormous risks to players. Online casinos have been widely reported to alter their software to issue false outcomes. Whether it is second dealing, rigged games or faulty slots, players are often at the mercy of unscrupulous operators or buggy software.

Many are operated by criminal organizations out of less-regulated jurisdictions and can be difficult to track down in the event of a non-payment of winnings. Online casinos have a well-earned reputation for engaging in fraud and theft, usually in the form of (unrevealed) unfair odds and rigging.

Online gambling is a $45 billion a year industry, and despite a sheer yearly growth, it lacks oversight whilst harboring unfair practices. Thankfully, on-chain gambling models can resolve all of those problems by providing a transparent and immutable record of every action taken on the casino. Thanks to its many user-centric benefits, decentralized gambling has become a buzzword despite many casinos not being fully decentralized, fair, or governed by smart contracts. 

Untapped Market Opportunity

After conducting careful studies of the current market, CryptoPunt was launched in hopes of resolving all paints generally associated with online gambling. All the games and the casino are fully decentralized, with completely auditable smart contracts. As such, all bets are recorded on-chain via the Polygon Matic ecosystem, the layer 2 Ethereum scaling solution, which also drastically reduces transaction costs for players.

Access to CryptoPunt will be via a standard web3-enabled Ethereum wallet like MetaMask, meaning that CryptoPunt provides a non-custodial payment policy, so users retain control over their private keys, with funds never moving in the absence of authorization. This model also ensures that there is no risk of delayed or denied withdrawals since wagering happens directly via a user’s web3 wallet – consequently, there are no deposit or withdrawal buttons. 

The first games to be launched will be Blackjack, Jackpot, and Coinflip, with many other entertainment options like Crash to follow. 

A recent look at the MVP of CryptoPunt has shown a beautiful user interface built for and by punters, offering a sleek, fun, and efficient experience. 

Introducing Community Tokens

To further enhance the platform’s decentralized credentials, CryptoPunt will be releasing $PUN, its very own native utility token. $PUN tokens will be issued as rewards to affiliate marketers, with 0.1% of all bets being automatically credited within their wallets. Token holders can also access lower house edges, giving them greater chances of winning, along with access to exclusive promotions and better rates. CryptoPunt has mentioned that it is actively developing the utility of the $PUN token to reward early buyers and create an ever-expanding gambling ecosystem. 

$PUN is the world’s first casino utility tokens to support both ERC-20 and BEP-20 standards and will be listed directly on the PancakeSwap & Uniswap decentralized exchanges. With a listing price of 25 cents, $PUN will hold an initial market cap of $1.2M. 

They are backed by industry heavyweights like VYSYN Capital, CryptoMarvels, Chain Ridge Capital, Insignius Capital, Dutch Crypto Investors, and BMW Capital. It is expected that CryptoPunt will demonstrate that on-chain and fully decentralized gambling is the only rational choice for the industry to not only survive but thrive.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptonewsz.com/insights-into-the-world-changing-potential-of-on-chain-gaming/

Continue Reading

Blockchain

Insights Into the World-Changing Potential of On-Chain Gaming

Blockchain technology and the decentralization movement are set to disrupt many industries, but perhaps none more than gambling. By bringing transparency to a once-opaque industry, on-chain gaming promises to shine a light onto a sector characterized by intransparency and a lack of fairness. What is Decentralized Gambling? Decentralized gambling takes control away from centralized organizations …

Published

on

Blockchain technology and the decentralization movement are set to disrupt many industries, but perhaps none more than gambling. By bringing transparency to a once-opaque industry, on-chain gaming promises to shine a light onto a sector characterized by intransparency and a lack of fairness.

What is Decentralized Gambling?

Decentralized gambling takes control away from centralized organizations which typically operate gambling sites. This design model opens the doors to player-centric mechanisms, one of which provable fairness. 

Insights Into the World-Changing Potential of On-Chain Gaming

All payouts and bets are verifiable with all transactions recorded on-chain, thereby leaving platforms with no choice but to acknowledge all activities carried out by players. With this model, no longer can casinos mess with the outcome of wagers or insist that a specific winning bet was never played. 

Decentralized gaming and gambling can also include the notion of community governance and utility tokens. With tokens available to the community, players have a stake in the platform, potentially reducing their house edge, being subject to rewards, earning a share of revenue, and providing a genuinely decentralized business model where no single party controls the mechanics of the site.

Insights Into the World-Changing Potential of On-Chain Gaming

Why Are Traditional Online Casinos Unfair?

Even if land-based casinos are well regulated, and the house edge is discernible, online casinos pose enormous risks to players. Online casinos have been widely reported to alter their software to issue false outcomes. Whether it is second dealing, rigged games or faulty slots, players are often at the mercy of unscrupulous operators or buggy software.

Many are operated by criminal organizations out of less-regulated jurisdictions and can be difficult to track down in the event of a non-payment of winnings. Online casinos have a well-earned reputation for engaging in fraud and theft, usually in the form of (unrevealed) unfair odds and rigging.

Online gambling is a $45 billion a year industry, and despite a sheer yearly growth, it lacks oversight whilst harboring unfair practices. Thankfully, on-chain gambling models can resolve all of those problems by providing a transparent and immutable record of every action taken on the casino. Thanks to its many user-centric benefits, decentralized gambling has become a buzzword despite many casinos not being fully decentralized, fair, or governed by smart contracts. 

Untapped Market Opportunity

After conducting careful studies of the current market, CryptoPunt was launched in hopes of resolving all paints generally associated with online gambling. All the games and the casino are fully decentralized, with completely auditable smart contracts. As such, all bets are recorded on-chain via the Polygon Matic ecosystem, the layer 2 Ethereum scaling solution, which also drastically reduces transaction costs for players.

Access to CryptoPunt will be via a standard web3-enabled Ethereum wallet like MetaMask, meaning that CryptoPunt provides a non-custodial payment policy, so users retain control over their private keys, with funds never moving in the absence of authorization. This model also ensures that there is no risk of delayed or denied withdrawals since wagering happens directly via a user’s web3 wallet – consequently, there are no deposit or withdrawal buttons. 

The first games to be launched will be Blackjack, Jackpot, and Coinflip, with many other entertainment options like Crash to follow. 

A recent look at the MVP of CryptoPunt has shown a beautiful user interface built for and by punters, offering a sleek, fun, and efficient experience. 

Introducing Community Tokens

To further enhance the platform’s decentralized credentials, CryptoPunt will be releasing $PUN, its very own native utility token. $PUN tokens will be issued as rewards to affiliate marketers, with 0.1% of all bets being automatically credited within their wallets. Token holders can also access lower house edges, giving them greater chances of winning, along with access to exclusive promotions and better rates. CryptoPunt has mentioned that it is actively developing the utility of the $PUN token to reward early buyers and create an ever-expanding gambling ecosystem. 

$PUN is the world’s first casino utility tokens to support both ERC-20 and BEP-20 standards and will be listed directly on the PancakeSwap & Uniswap decentralized exchanges. With a listing price of 25 cents, $PUN will hold an initial market cap of $1.2M. 

They are backed by industry heavyweights like VYSYN Capital, CryptoMarvels, Chain Ridge Capital, Insignius Capital, Dutch Crypto Investors, and BMW Capital. It is expected that CryptoPunt will demonstrate that on-chain and fully decentralized gambling is the only rational choice for the industry to not only survive but thrive.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptonewsz.com/insights-into-the-world-changing-potential-of-on-chain-gaming/

Continue Reading

Blockchain

Bitcoin: Is the price being ‘manipulated by one very influential individual’

Well, Dogecoin remained the hype-driven coin as Elon Musk continued the joke about the alt becoming ‘world’s cryptocurrency.’ However, the Tesla CEO expanded his reach and targeted Bitcoin; initially,

The post Bitcoin: Is the price being ‘manipulated by one very influential individual’ appeared first on AMBCrypto.

Published

on

Well, Dogecoin remained the hype-driven coin as Elon Musk continued the joke about the alt becoming ‘world’s cryptocurrency.’ However, the Tesla CEO expanded his reach and targeted Bitcoin; initially, he came out as an enthusiast. Musk’s optimism was reflected in Bitcoin’s price: Tesla announced it had bought $1.5 billion in Bitcoin and signaled its intent to start accepting Bitcoin as payment for vehicles. In March, the CEO tweeted, “you can now buy a Tesla with Bitcoin,” only to suspend the same due to concerns about fossil-fuel usage for Bitcoin mining and transactions.

Musk’s rollercoaster of emotions on Bitcoin impacted its price at every stage. Be it his support for BTC or Tesla investing in BTC followed by its sales shortly. This induced volatility in the Bitcoin market, which cannot be denied.

However, can we say Musk was manipulating the market? Not without evidence.

Sygnia CEO, Magda Wierzycka in an interview criticized the Tesla CEO and stated:

“What we have seen with Bitcoin is price manipulation by one very powerful and influential individual.”

Musk called this inaccurate and added:

“Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.”

He added that the company would resume allowing BTC transactions once there was confirmation that miners were using approximately 50% clean energy with a “positive future turned.”

Bitcoin’s current period of consolidation can be attributed to news about China cracking down on crypto and Elon Musk’s Tweets.

However, this raised the question of Bitcoin being an un-correlated asset. Recent times have provided evidence to the contrary. Many have stated that the cryptocurrency market has been getting influenced by industry decisions and individuals tweets.

Thomas Lee of Fundstrat opined that the impact of ‘institutional investors’ is still very small and the changes caused by a company or a person meant the market needed to evolve further.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-is-the-price-being-manipulated-by-one-very-influential-individual

Continue Reading

Blockchain

Bitcoin: Is the price being ‘manipulated by one very influential individual’

Well, Dogecoin remained the hype-driven coin as Elon Musk continued the joke about the alt becoming ‘world’s cryptocurrency.’ However, the Tesla CEO expanded his reach and targeted Bitcoin; initially,

The post Bitcoin: Is the price being ‘manipulated by one very influential individual’ appeared first on AMBCrypto.

Published

on

Well, Dogecoin remained the hype-driven coin as Elon Musk continued the joke about the alt becoming ‘world’s cryptocurrency.’ However, the Tesla CEO expanded his reach and targeted Bitcoin; initially, he came out as an enthusiast. Musk’s optimism was reflected in Bitcoin’s price: Tesla announced it had bought $1.5 billion in Bitcoin and signaled its intent to start accepting Bitcoin as payment for vehicles. In March, the CEO tweeted, “you can now buy a Tesla with Bitcoin,” only to suspend the same due to concerns about fossil-fuel usage for Bitcoin mining and transactions.

Musk’s rollercoaster of emotions on Bitcoin impacted its price at every stage. Be it his support for BTC or Tesla investing in BTC followed by its sales shortly. This induced volatility in the Bitcoin market, which cannot be denied.

However, can we say Musk was manipulating the market? Not without evidence.

Sygnia CEO, Magda Wierzycka in an interview criticized the Tesla CEO and stated:

“What we have seen with Bitcoin is price manipulation by one very powerful and influential individual.”

Musk called this inaccurate and added:

“Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.”

He added that the company would resume allowing BTC transactions once there was confirmation that miners were using approximately 50% clean energy with a “positive future turned.”

Bitcoin’s current period of consolidation can be attributed to news about China cracking down on crypto and Elon Musk’s Tweets.

However, this raised the question of Bitcoin being an un-correlated asset. Recent times have provided evidence to the contrary. Many have stated that the cryptocurrency market has been getting influenced by industry decisions and individuals tweets.

Thomas Lee of Fundstrat opined that the impact of ‘institutional investors’ is still very small and the changes caused by a company or a person meant the market needed to evolve further.


Subscribe to our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-is-the-price-being-manipulated-by-one-very-influential-individual

Continue Reading
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