Bithumb Hack May Cause BTC Network Overload

This is the position of many member of Bitcoin community
21 June 2018   389

At the time, when BTC fee reached fairly low level (around $0.5), many transcactions with 0.1BTC ($ 661) fee filled the network and caused a lot of unwanted situations, such as fee increase and transactions' queue. This is reported by Cryptovest.

Individuals from the crypto community blamed the Bithumb exchange hack. What is even more surprising in these transactions is that they are used to transfer relatively small amounts. The absolute majority of transactions carry about 0,3 BTC ($ 2,000), and after paying the commission to the final amount is 0.2 BTC ($ 1,330). It is worth noting that some of the transactions contain amounts ranging from 0.4 BTC to 2 BTC.

All of them, despite the fact that they are sent from multiple addresses, went to one wallet - 36MVds9jUMHsDTvww9hzokSPffapHdT8Jm.

Community members noted this when in the BTC network for the first time a congestion occurred, and commissions rose to the level of the end of February. The mempool of bitcoin in the meantime reached an impressive 26 MB.

WhalePanda Twitter
WhalePanda Twitter

WhalePanda assumes that this phenomenon is connected with the Bithumb hack. According to him, either the exchange is trying to send its funds to a cold wallet, or the attacker devastates its wallets. Many are inclined to favor the first version, although there are supporters and the second, who admit that Bithumb deleted information about the amount of stolen funds, since this value was not final. 

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   265

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.