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   2036

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.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   158

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.