Vulnerabilities / Threats

Bye, Bitcoin: Criminals Seek Other Crypto Currency

Law enforcement crackdowns, hack attacks, and market volatility drive Russian fraudsters to mint their own virtual currency systems.

Photo credit: zcopley.
Photo credit: zcopley.

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s404n1tn0cc
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s404n1tn0cc,
User Rank: Apprentice
2/20/2014 | 9:14:34 AM
So much for Law proofing.
      Seems sence the US invented the Ethernet it owns it and all Backdoors. Obviously they some how where able to get subpoenas. And direct access to the accounts. but when they did that the 34000000 dollars is now worth only 8500000. A tremendous shock to the system. 
asksqn
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asksqn,
User Rank: Ninja
2/19/2014 | 9:04:08 PM
Bitcoin, We Hardly Knew Ye
Notwithstanding the negative nellie approach to cryptocurrencies, Bitcoin will always be remembered for causing the widespread soiling of jockey shorts worn by members of the Federal Reserve, Greenspan, Bernanke and other keepers of the fiat money cartel.
Thomas Claburn
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Thomas Claburn,
User Rank: Ninja
2/18/2014 | 6:49:07 PM
Re: Why tie to physical location?
It would be fitting if cybercriminals took to using actual cans of Hormel Spam as currency.
Brian.Dean
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100%
Brian.Dean,
User Rank: Apprentice
2/18/2014 | 4:06:59 PM
Re: Why tie to physical location?
This is one area where technology is not being used for the good of society. The easiest way to limit illegal activities is by limiting/restricting free movement of finance. However, it is not all negative as technology that enables agencies to detect narcotics using sensors etc restores some of the balance.

I feel since Bitcoin is not doing too good even for legal activities, I wonder whether another crypto currency will every gain the kind the hype and value that Bitcoin gained during the month of November last year.  
Mathew
50%
50%
Mathew,
User Rank: Apprentice
2/18/2014 | 12:30:52 PM
Re: Why tie to physical location?
Good question. These are add-ons to Russian-language cybercrime forums. It doesn't mean that the admins or users reside in Russia. But if they do, they might want a way to cash out large amounts of money in rubles, for local spending.
Lorna Garey
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50%
Lorna Garey,
User Rank: Ninja
2/18/2014 | 12:00:58 PM
Why tie to physical location?
Mat, why would a group looking to launch a cyber-currency tie itself to a specific country, especially Russia? The U.S., EU and China also seem like bad bets. It's CYBER after all, so why not be completely separate from any physical location?
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