Four scammers are in the latest Bitcoin news for allegedly stealing more than $200,000 from seven different Canadian cities. The heist was pulled off by substituting speed and convenience over security and fund safety – allowing the scammers to get away with the money from several Bitcoin ATMs across the Canadian cities.
Police are now on the trail. However, what’s more important is the fact that this theft is an indication of how malicious the elements are – and how sophisticated the Bitcoin scams are becoming. With new trends, it is easier to steal Bitcoin than ever before – especially from ATM machines which have always been vulnerable to attacks.
On a different note, this heist sends an alarm on ATM manufacturers such as Genesis and CoinSource, motivating them to step up and implement appropriate solutions which will tackle the risks associated with zero-confirmation transactions. Therefore, they will shield ordinary enthusiasts keen on exploring and even experimenting on Bitcoin.
Only a small percentage of people knows what Bitcoin actually is. The ones who know how BTC works is even lower. Even though zero-confirm transactions are fast and accepted by some merchants, it can also be disastrous for merchant if these transactions are reversed in a RBF or via double spending with higher fees.
The ease execution of this Bitcoin scam is what wonders many. In times when Bitcoin (BTC) is sitting below $4,000 and is in a stable position with no visible gains so far, the $200k worth of BTC that was stolen gave the scammers a bi of an advantage.
Dutch Crypto Scammer Steals $2.2M In BTC Mining Fraud
Firefox Quantum Browser Adopts New Anti Cryptojacking Features
"Today’s new Firefox release continues to bring fast and private together right at the crossroads of performance and security. It includes improvements that continue to keep Firefox fast while giving you more control and assurance through new features that your personal information is safe while you’re online with us," the Firefox Quantum release notes.Previously, Mozilla warned its audience that websites can deploy scripts that may launch a crypto miner on any user's machine - even without them being aware. This practice is known as cryptojacking in the world of cryptocurrency. In order to combat these practices, the Firefox Quantum was developed as a product of partnership between Mozilla and the online privacy company Disconnect. The crypto mining blocker was created to block people on their browser. As of now, users can toggle an opt-in feature that would block would-be cryptojackers from taking advantage of spare computing power and mining cryptocurrencies. Users can take a look and see how much faster Firefox is today at the following video, which went viral on many best cryptocurrency news sites because of the anti-cryptojacking features. https://www.youtube.com/watch?v=NzqJ09_cn28 In August 2018, Firefox featured cryptojacking protection - to later update them in its Nightly 68 and Beta 67 versions which emerged this April, just before the launch of the Firefox Quantum browser. The open-source Quantum also aims to mitigate the practices of so-called "fingerprinting" which makes a sort of a digital fingerprint of a user that is employed in order to monitor their activities on the Internet. In another report published in the altcoin news on April 23 by the cybersecurity company MalwareBytes, cryptojacking was called "essentially extinct" and:
“Marked by the popular drive-by mining company CoinHive shutting down operations in early March, consumer cryptomining seems to have gone the way of the dodo. Detections of consumer-focused bitcoin miners have dropped significantly over the last year and even from last quarter, while business-focused miners have increased from the previous quarter, especially in the APAC region.”So, the steps that Mozilla took in its Firefox Quantum definitely ramp up the browsing experience from a crypto perspective.
Crypto And Forex Scams Got Away With $34 Million In 2018: UK Report
“Scammers can be very convincing so always do your own research into any firm you are considering investing with, to make sure that they are the real deal.”The report is a viral topic in the latest cryptocurrency news - mostly because the FCA stated that scammers use social media to find potential investors. According to the regulator, crypto and forex scams like these often use pictures of celebrities with fake endorsements alongside images of luxury goods such as cars and watches. In 2018, the initial coin offering (ICOs) advisory firm Statis Group released a study in which it found that more than 80% of ICOs in 2017 were scams. The associated losses for that year, as the study showed, totaled around $1.34 billion. In the latest altcoin news, we can also see that new evidence surfaced, suggesting that purported Bitcoin (BTC) exchange Goxtrade is a Bitcoin scam. As the evidence shows, Goxtrade reportedly used the real names and photos of unaffiliated parties including the blockchain figure Amber Baldet to fill their website staff page and its absent from the UK's registry of companies and businesses. All in all, the number of crypto and forex scams is increasing and there must be certain regulation to prevent these billions which are lost on a yearly basis.
Investor Sues OneCoin Scheme Seeking Class Action
Join us on Facebook
- Bank Of Russia Is Interested In Developing A Gold-Backed Cryptocurrency
- Litecoin Is Leading The New $10 Billion Market Surge
- CME Futures Gaps Show Bitcoin Could Be Headed To $18,000 (Or Higher)
- Blockchain For Timepieces: World’s Oldest Watch Manufacturer Gets Involved
- Two Miners Reportedly Executed A 51% Attack On Bitcoin Cash (BCH) Blockchain
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News4 days ago
Bitcoin Whitepaper Copyright Registration Filed By Craig Wright
Analysis2 days ago
Expected Bitcoin Drop Leads Major Crypto Assets To Drop By 7%
Bitcoin News4 days ago
Teen Bitcoin Millionaire: BTC Will Die If 4 Major Issues Are Not Solved
Altcoin News4 days ago
Tether Issuer Claims It Had Invested Its Reserves Into Bitcoin
Blockchain News3 days ago
YouTuber PewDiePie Helps Blockchain Platform Grow Its User Base By 67%
Regulation3 days ago
Central Bank Of Laos Warns Against Using Cryptocurrency
Altcoin News4 days ago
Most Altcoins Report Moderate Gains, Bitcoin Reaches $8,000
Bitcoin News5 days ago
Bitcoin In Myanmar No More: CBM Sees It As Liability