This evening Fiat stock broker and online investment management portal Scottrade revealed it was hacked in an email to customers. The advised customers that critical personally identifying information was in all probability taken from their servers. In the email they offer that they have evidence they were breeched roughly around 2013 and 2014 without being more specific. Numerous fiat based financial services providers this year have not only had to weather attacks to their own infrastructure, but attacks which leveraged information attained in other breaches degrading their ability to provide services at all. Information publicly disclosed on the Scottrade breach so far was offered in an email to customers which availed them of a dubious credit monitoring service. Users of fiat services like Scottrade and of supposedly Bitcoin services that swear allegiance to customs of the fiat identity theft tradition are advised to stop doing that before you find yourself insolvent. The full text of the email is available below: Continue reading
Category Archives: The Law
Bharara Snubbed By Supreme Court
Bloomberg reports that the United States Supreme Court has refused to consider whether convictions won by Preet Bharara should not have been overturned on appeal (archived). While this decision to decline entertaining Bharara's zealotry only immediately rescues three defendants from the jeopardy of having their cases revived, it lays the groundwork for hundreds of other defendants to have their convictions or guilty pleas vacated under the higher standard for insider trading criminal liability established by the appellate court. This is a severe blow to the embattled Bharara's office which will now be burdened by the influx of defendants looking for freedom from the sanctions criminally imposed on them by Bharara. This is just the latest even in a long downward spiral of reality hitting Preet Bharara after his unjustly criminal prosecution of Ross Ulbricht.
USMS Schedules Final Silk Road Auction
The United States Marshals Service has announced its final Silk Road auction to sell 44,341 Bitcoins. The Auction will be held November 5th. The Bitcoins will be sold in 21 lots of 2,000 with a 22nd lot of 2,341 Bitcoin. Per the Marshals service this is the last planned sale of Bitcoins criminally seized from Ross Ulbricht by Preet Bharara and his co-conspirators. The full details of the sale along with a calendar of sale milestones is reproduced below: Continue reading
Malleability Issues Continue Testing Zero-conf Faithful
Coinkite in a blog post revealed that a number of their customer's transactions are continuing to be affected by malleability issues (archived) which stem from valid signed transactions having more than one potential transaction ID number until mined. Previously malleability concerns stemmed from different possible valid encodings with MtGox being a noted transaction encoding deviant. The malleability issue affecting Coinkite is that a transaction ID may use either the low or high S value from the ECDSA signature of a transaction. Transaction ID's have never been a reliable tool for distinguishing unconfirmed transactions, and any service that depends on using them to distinguish unmined yet broadcasted transactions does so at their and their customer's peril. Considering the disastrous forking that resulted from the last attempt to soft fork away a malleability vector it is unlikely this can or will be addressed through a soft fork process. Transaction malleability is one of many reasons to wait for confirmation through mining before accepting a Bitcoin transaction.
Pumpkin Extortion Attempt Squashed
The Daily Mail reports (archive) a 53 year old ex-soldier has been jailed after he attempted to blackmail an elderly pumpkin farmer into paying him £50,0001 in bitcoin. Fearing for his livelihood, farmer David Bowman reported the threat to police and was then instructed by the UK's Foods Standards Agency to plough the field of concern, resulting in the loss of £120,0002 of stock. Continue reading
Editor Under Fire
A heavily redacted document detailing the deposition of CoinFire editor Michael Johnson regarding what were threats presumably made by Homero Joshua Garza of GAW Miners and his cohorts has been released. While the document does not mention Mr Garza by name, it is clear to anyone familiar with the GAW Miners and Paycoin debacles that many of the numerous gaps in the document are a reference to him and his partners in crime.
The original PDF document is available here, and the text of that document is quoted below. It outlines threats of assassination as well as Michael Johnson's eagnerness to work with LEA due to concerns for his own safety as well as that of family, friends and colleagues. Continue reading
India Imposes and US Considers Tariffs on Hot Rolled Steel
Last week India imposed a 20% tariff on a number of hot rolled steel products to "safeguard" domestic production. According to the Business Standard this has lead domestic producers to drop their customarily negotiated discounts and begin charging customers according to their actual published price sheets (archived). Earlier this month the United States began an investigation (archived) into hot rolled steel products of their own and have just announced that based on early findings they intend to continue the investigation (archived) as imports appear to impose "harm" on US producers in their determination through low prices. The US can be expected to follow India in introducing protectionist tariffs on hot rolled steel soon. As a larger tend expect bureaucracy heavy states struggling to support domestic industry such as the United States and India to begin ramping up their imposition of protectionist tariffs in an effort to keep the remains of their domestic production capacity from being gutted.
FDA Regulatory Overreach Allows Price Gouging
Recently news has been circulating that condemns Turing Pharmaceuticals for price gouging United States consumers of pyrimethamine1 an antimalarial which sells for under ten cents per dose in markets other than the United States where generic forms are available. Pyrimethamine is very popular in areas of the world where malaria is endemic due to its efficacy against most strains of the falciparum and vivax species of the Plasmodium malaria parasite, but in the United States it is typically used to treat toxoplasmosis in immunocompromised patients making it a niche treatment. Turing Pharmaceuticals managed to get a contract to exclusively market pyrimethamine in the United States thanks to FDA regulations. Because the FDA allows them exclusive marketing rights they can set prices arbitrarily, and if they can they must. Continue reading
trade name Daparim, released in 1953 ↩
Have Nude Pics of Yourself, go to Jail
In what is merely the most recent criminalization insanity to manifest in embarrassment of the US, two teenagers in Fayetteville, North Carolina have recently been charged with felonies for sexually exploiting themselves by having nude pictures of their own persons on their own phones. The male, 17, has been charged with exploitation of a minor and was prosecuted as an adult for his "selfies". He subsequently agreed to subject himself to a year of warrantless searches, which somehow has been found by the courts circus to not constitute self-exploitation. His girlfriend, 16, took a plea bargain, which entailed a $200 fine, 30 hours of community service, the inability to use a cell phone for one year, mandatory attendance at a "class in making good decisions", and an "order to stay in school and refrain from using drugs and alcohol". Following his girlfriend's state-mandated metamorphosis from a normal, sexually curious teenager to the passive victim of local mores well out of touch with reality, the male involved in the case accepted a "similar" plea bargain. Continue reading
Pirateat40 Pleads Guilty To Securities Fraud
Despite entering a plea of not guilty earlier this year, Trendon Shavers AKA pirateat40 has plead guilty to one charge of securities fraud related to the operation of a ponzi scheme, better known as the Bitcoin Savings and Trust. As reported by Reuters (archive), Shavers has agreed not to appeal any sentence at or below 41 months in duration and will face sentencing early next year on February 3rd.