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   2236

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.

OKEx & Kraken to List Bitcoin SV

Kraken notes that Bitcoin SV doesn't meet its usual listing requirements
19 November 2018   51

OKEx Bitcoin exchange, charged holders of Bitcoin Cash with BCHABC and BCHSV coins. Bidding for each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.

Note that futures, margin trading and fiat pairs will remain unavailable for new assets. The withdrawal of coins is also closed indefinitely.

In turn, the Kraken exchange assigned the BCH ticker to the Bitcoin ABC chain, but also made a decision on the listing of Bitcoin SV (BSV).

WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of:

  • No known wallets supporting replay protection (be careful!)
  • No support in major block explorers
  • Miners apparently subsidized or operating at a loss
  • Representatives threatening and openly hostile toward other chains
  • Chain’s survival may be mutually exclusive with other chains
  • Supply is temporarily constrained because of limited wallet support
  • Some large holders have indicated they’d be dumping everything ASAP
  • Kraken has done only very minimal code review

Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.

Kraken Team

BSV trading will be available in pairs with Bitcoin, fiat USD and Euro.

Meanwhile, the BSV rate in the last 24 hours fell by almost 30%, dropping below $ 90.