Author Archives: cazalla

CFTC Requests Public Comment LedgerX

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The CFTC, known for stating but never demonstrating its authority over Bitcoin, is asking for public comment on related applications submitted by LedgerX in its attempt to register as a swap execution facility and a derivatives clearing organisation. Comments must be submitted on or before January 30th 2015.

LedgerX, who's investors include Google Ventures, Lightspeed Venture Partners, Crypto Currency Partners and Eric Kagan, hopes to list physically settled digital currency option contracts in 2015.

Public comments are available to read and submit here.

OphionLocker, Latest Ransomware Which Is Spread Via Ad Networks

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F-Secure reports that a new piece of ransomware named OphionLocker is being distributed via ad networks. First spotted by Trojan7Malware, OphionLocker encrypts a user's files before demanding a ransom of 1 BTC and directing them to smu743glzfrxsqcl.onion via tor2web.org for further instructions.

Once infected, OphionLocker prompts users with a warning which states: Continue reading →

CFTC Restate Supposed Authority Over Bitcoin

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If you didn't hear the first time, the CFTC has restated its authority over virtual currencies such as Bitcoin including futures and swap contracts. The claimant of this authority, Chairman of the CFTC Timothy Massad, made such comments when he appeared before the US Senate Committee on Agriculture, Nutrition and Forestry. Massad's claim relies upon the Commodity Exchange Act's broad definition of what a commodity is. Continue reading →

Additional Information On A Normal Man AKA John D Powell

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As John D Powell took a plea deal and plead guilty to two charges of operating an unlicensed money service business, few court documents are available. The documents that are available depict an articulate man who experienced a run of misfortune prior to his involvement with Bitcoin.

In a letter to Judge Shadid, Mr Powell cites the break down of his marriage and stress of surviving an aortic dissection as explanation for his decision to operate an unlicensed Bitcoin exchange. One could be forgiven for mistaking Powell's letter as one penned by a murderer who is remorseful for his crimes and if as claimed by the State, Powell did process USD $3 million in Bitcoin, it's clear it was a beacon of light for him despite yielding to the court in his apology letter. Continue reading →

CoinJelly Exchange Warns Users They Have 24 Hours To Remove Coins

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Ownership of the Australian Bitcoin exchange CoinJelly is alleged to have changed hands and as a result of the purchase, CoinJelly users have been warned that they have 24 hours to remove their coins from the site. Despite the announcement, which was made via email and twitter, no notification of account closures has been made on the CoinJelly website although the sign up process has been disabled. Continue reading →

A Normal Man Sentenced To 48 Months Prison

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A Normal man1 has been sentenced by Chief U.S. District Judge James Shadid to 48 months in federal prison for operating a bitcoin exchange. 55 year old John Powell of Normal, Illinois plead guilty to two counts of operating an unlicensed money service business.

Powell received US $3 million over an 18 month period up until February 2014. Upon completion of the sentence, Powell will serve three years of supervised release.

Source – http://www.pantagraph.com/news/local/crime-and-courts/b-n-man-sentenced-for-illegal-bitcoin-operation/article_30069152-125b-5ef1-8d19-e8f8176678de.html

  1. top kek! ↩

BitPay Forget To Renew Bitcore.io Domain Name

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In February of this year, BitPay launched an open source JavaScript library titled Bitcore. The project aims to encourage and assist developers in building software which interfaces with the Bitcoin network. Unfortunately, it appears someone at BitPay has inadvertently allowed the bitcore.io domain registration to lapse and it now sits in pending delete status. Continue reading →

HashFast Asset Auction Cancelled

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Last Thursday, Bankruptcy Judge Dennis Montali approved a joint statement from HashFast and its creditors in which it is made clear that no-one other than Simon Barber is interested in purchasing the remaining assets. Early last month, HashFast was ordered to auction off its assets but plans for the auction have been scuttled at the last moment as the Bid Procedures Order only received "lowball offers."

In addition to the joint statement released last Thursday, a document dated October 31st was made available. This document shows that a Venezuelan congressman by the name of Guido Ochoa made a bid of $420,000, which was accepted, for all HashFast assets but the ASICs. Continue reading →