PYMNTS

DECEMBER 1, 2020

Bitcoin saw a new all-time record high on Monday (Nov. Bitcoin’s price has been steadily rising in recent weeks, climbing above $19,000 last week , thanks to the pandemic-driven shift toward digital payments and cryptocurrency adoption by several mainstream companies, including Square and PayPal. Eastern Time.

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PYMNTS

FEBRUARY 9, 2020

The cost of crimes involving bitcoin and cryptocurrency hit $4.3 Chainalysis, the New York-based firm that works with clients like the Federal Bureau of Investigations in order to track scams and fraud, said the trend has been that Ponzi schemes mimicking investment opportunities have proven effective at leeching money away from victims.

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PYMNTS

MAY 20, 2020

Consumers will now be able to make automatic purchases of bitcoin via Cash App, and in smaller satoshi denominations that could lead to more accessibility, CoinDesk reports. Because bitcoin is valued at around $10,000, even just one is too expensive for many retail investors. But with satoshis, there are 2.1 crypto exchange.

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PYMNTS

JUNE 22, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever. Gox, the bitcoin exchange based in Japan. In 2017, Vinnik was arrested while on vacation in Greece at the request of U.S. authorities, AP reported. million penalty.

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PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It The exchange froze all withdrawals after noticing that large amounts of bitcoin, Ether, Ethereum Classic, XRP, Tether and Zcash were leaving the platform’s hot wallets. They allege that F.F. Meanwhile, U.K. 21), according to Cointelegraph.

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Bank Innovation

JUNE 2, 2017

Venmo not accepted,” future online sale ads might read, at least for this recent victim of fraud on the reigning “killer” P2P payment app. “Accepting payments in cash or crypto only.

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Abrigo

NOVEMBER 3, 2021

FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. Takeaway 3 The FinCEN releases also focus on money mule schemes and imposter fraud, both increasing due to the pandemic. . Fraudsters.

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PYMNTS

NOVEMBER 20, 2018

Late last year, the value of a single bitcoin hit $9,143, climbing nearly six points in just 24 hours for a market cap north of $152 billion. dollar, to help bitcoin reach its record highs. Even when it was flying high, bitcoin had its share of detractors. I’m not comfortable with it.

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PYMNTS

OCTOBER 3, 2017

Citing people familiar with the matter, the Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies. If the firm moves ahead with these plans, it will be the first high-profile Wall Street company to deal directly in the bitcoin trading market.

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PYMNTS

JULY 13, 2020

Two Nigerian scammers known for allegedly defrauding American companies for tens of millions of dollars that they transferred into bitcoin were extradited to the U.S. Ponle, according to the complaint, wasn’t that concerned with covering his tracks — he reportedly used the same address on the Bitcoin network since 2014.

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PYMNTS

OCTOBER 27, 2020

Blockchain industry stocks are on the rise as bitcoin reaches new heights, Seeking Alpha reported. Bitcoin reached higher than the $13,600 level intraday. The price of bitcoin was $13,750.90 27) afternoon Eastern Time. as of 7:19 p.m.

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PYMNTS

SEPTEMBER 15, 2020

District Court against four people for allegedly “fraudulently soliciting funds” from individuals to attempt to wager on changes in the price of bitcoin, according to a press release. The company noted that its collection of bitcoin might exceed the $250 million investment that the company made known in August.

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PYMNTS

JUNE 17, 2020

Its Federal Ministry for Digital and Economic Affairs provided a grant of $67,600 to the QualiSig program that taps into portions of the country’s digital identity infrastructure to make prototypes involving wellness data, fraud prevention and fake news. Users can add up to a little more than $700 in bitcoin to use toward payments for trips.

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PYMNTS

DECEMBER 31, 2018

Long ago and far away, bitcoin enthusiasm was measured in dollars, and what a difference a year makes. Well, that’s a popularity contest, and for bitcoin, popularity reigned as evidenced by the roughly $20,000 for which the cryptocurrency changed hands, a heady rise from the less-than $800 level that marked the beginning of 2017.

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PYMNTS

DECEMBER 20, 2020

Square 's Cash App has a new feature letting customers get bitcoin back with any transaction, CoinDesk reported. But bitcoin has been trending upward for the company and in general, with Square reporting $1.63 billion in bitcoin revenue from Cash App in its third quarter earnings. In other news, Nigeria is now the No.

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PYMNTS

SEPTEMBER 15, 2017

Bitcoin has been riding a bit of a rollercoaster in the past few weeks since hitting an all-time high of more than $4,800 per digital coin on Aug. To continue the rollercoaster analogy, the cryptocurrency’s value has been on a steep climb all year, and it stands to reason that bitcoin’s skyrocketing value must eventually slow and reverse.

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PYMNTS

JUNE 23, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever.

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PYMNTS

JULY 31, 2020

million worth of bitcoin in ransom this week to hackers who said they seized control of 30,000 company computers and two terabytes of data, Reuters reported on Friday (July 31). Corporate travel manager CWT paid $4.5

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PYMNTS

MAY 12, 2020

Bitcoin has long been the marquee name — shorthand, if you will — for the cryptocurrency space. And in recent months, the ride has been wild for bitcoin pricing amid the pandemic. On the other hand, bitcoin is also well off of its all-time highs of just under $20,000. bitcoin exchange.). based crypto exchanges.

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PYMNTS

OCTOBER 9, 2020

Bitcoin and other cryptocurrencies are continuing to attract attention from authorities for all the wrong reasons. Among the issues plaguing bitcoin and its peers is the fact that unlike credit card transactions, cryptocurrency payments are almost immediately irreversible. For instance, a new U.S. In unveiling the report , U.S. “To

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cryptocurrency Bitcoin US Security 205

PYMNTS

NOVEMBER 13, 2018

According to a report in The Next Web , scammers tweeted out links to scam giveaways that encourage users to send small amounts of cryptocurrency to have a chance at winning more than $31 million worth of bitcoin. Elon Musk , the founder of Tesla, was used in a different bitcoin Twitter scam.

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PYMNTS

MAY 1, 2019

Reports came from Bloomberg this week that bitcoin, the marquee name of cryptocurrencies, was trading at a several hundred dollar premium on one exchange: Bitfinex. Now, reports Bloomberg, investors have been exiting Tether and embracing bitcoin. Paying up for the privilege of crowding into bitcoin to get away from another crypto?

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PYMNTS

AUGUST 19, 2019

Through that ransomware they have been hijacking companies’ systems and demanding bitcoin payment in exchange for a decryption key. We are seeing gangs involved in drug trafficking and firearms offenses turning to fraud, targeting victims across the U.K. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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Chris Skinner

MARCH 1, 2020

Things we’re reading today include … Nationwide leads race for £1.9bn Sainsbury’s Bank deal Lloyds Bank faces fresh police inquiry over fraud claims Bank of England passed ‘misuse’ firm for due diligence three times ‘Swindled with bitcoin’: Australian victims count cost of online finance scam The rise and dramatic (..)

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PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. According to the court, Collins potentially began investing in bitcoin at an early stage, increasing his value over time.

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PYMNTS

APRIL 26, 2020

The owner of a site that wanted to sell fake coronavirus cures and accept payment in bitcoin has been seized by the U.S. The owner allegedly theorized with others about potentially selling “high markup in demand products” through the site, marking the price of the domain up and reportedly asking for payment in bitcoin.

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PYMNTS

DECEMBER 11, 2018

Bitcoin, the world’s best-known cryptocurrency, continued its downward slide on Tuesday (Dec. Tuesday morning saw one bitcoin trading at $3,333.60, which is down 2.1 28, when bitcoin traded near $4,200.66,” wrote Nancy Pakbaz, an analyst at DailyFX. Bitcoin isn’t the only cryptocurrency on tilt. Ether is down 3.3

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PYMNTS

JANUARY 23, 2019

The big bitcoin and crypto breach events are well-known news items. Gox hack that saw $473 million in bitcoin disappear, the Bitfinex hack in which $72 million in value was lost overnight and the reigning champion crypto hack, the January 2018 Coincheck hack that saw $530 million in cryptocurrency go missing. There was the Mt.

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Fraud Bitcoin cryptocurrency Security 177

PYMNTS

JULY 26, 2020

Bitcoin surpassed $10,000 on Sunday (July 26) for the first time since June, hitting $10,200, Reuters reported. Bitcoin has been negatively impacted by the pandemic over the past few months, halving for the third time in May and slicing the rewards bitcoin miners earn, per Reuters. ruled that bitcoin is money.

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Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

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PYMNTS

DECEMBER 11, 2018

BitPay has announced that OneGold, a marketplace that combines the benefits of gold and silver with blockchain-based digital assets, is now accepting bitcoin and bitcoin cash. When they started OneGold, we were ready to help them accept Bitcoin and Bitcoin Cash through BitPay.”.

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PYMNTS

JUNE 14, 2020

Xapo , a crypto wallet and bitcoin custodian, will no longer deal in credit card payments for digital asset purchases, according to an email from the company, as reported by CoinDesk. Xapo will also implement new restrictions on bank transfers, depending on a user’s location.

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PYMNTS

APRIL 28, 2019

Police in Singapore helped stop a scam that was targeting users of bitcoin machines at a local mall. The scammers then ordered the man to transfer a total of $1,000 ($734 USD) worth of bitcoin to their wallets on two occasions, which the victim did. The country is also the top of the list when it comes to general fraud schemes.

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Bank Innovation

OCTOBER 13, 2016

As we know, two of the most prized traits of blockchain technology, specifically when one is talking about the bitcoin blockchain, are its anonymity and its immutability. Unfortunately, those traits also lead to a fair amount of fraud; which is why Terbium Labs, a “dark web intelligence provider,” has teamed Read More.

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PYMNTS

OCTOBER 3, 2016

Hackers who steal money from corporate banks often use so-called “money mules,” people willing or tricked into withdrawing funds in cash and wiring the money to the bad guys, but according to Krebs on Security , the mules are increasingly being told to remit the money through bitcoin ATMs.

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PYMNTS

JUNE 21, 2018

Some defenders stated that the hack should be viewed only in light of the security (or lack thereof) of the exchange itself and does not reflect the fundamentals of bitcoin. Turns out, too, that bitcoin may not be ready for primetime, so to speak, and may face headwinds in a move toward mainstream use beyond mere speculation.

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PYMNTS

FEBRUARY 3, 2020

The Google Play store is once again offering the mobile game Bitcoin Blast that gives users bitcoin to play with, CoinDesk reported on Friday (Jan. Its crypto mining division was reportedly part of what could be the world’s biggest bitcoin mine under development in Texas. The New York Supreme Court awarded $13.8

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