BTC-e was used to cash 95% of ransomware payments

Researchers from Google, Chainalysis, California, San Diego and New York Universities came to this conclusion
28 July 2017   1760

Distributed database that is used to maintain a continuously growing list of records, called blocks

New details about "well-known" exchange. The BTC-e is responsible for cashing 95% of the proceeds of the bitcoin-extortioners since 2014. This is stated in the report, which was presented at the conference on computer security Black Hat USA 2017, and reported by the BleepingComputer.

The study involved Google, Chainalysis, as well as specialists from universities in California, San Diego and New York.

During the project called "Tracking Ransomware End to End" 34 families of viruses were analyzed. From a huge set of executable files, the research project was able to create an overall picture illustrating the amount of payments related to the extortion programs carried out over the past three and a half years.

Revenue per monthly
Revenue per monthly

Researchers note that 2016 was the most profitable year for ransomware, during which the monthly volume of pay-off payments reached $ 2 million or more. The largest increase in the incomes of extortionists also coincides with the periods of distribution of the programs of the Locky family and Cerber. So, crypto-hijacker Locky collected about $ 7.8 million, while Cerber - $ 6.9 million, and Cryptolocker - $ 2 million.

Ransomware Ecosystem
Ransomware Ecosystem


Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Researchers agreed that the end point of 95% of all payments was the BTC-e exchange. Criminals used it to convert Bitcoins into fiat money.

The alleged co-owner of BTC-e Alexander Vinnik was detained in Greece recently.

Worth reminding that Financial Crimes Enforcement Network  has imposed a $ 110 million penalty on the BTC-e crypto exchange for "deliberately violating US anti-money laundering laws (AML)." In addition, Alexander Vinnik is named the main suspect in the case of MtGox.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   110

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.