BTC Seller Arrested by US Federal Authorities

Morgan Rockcoons is accused of laundering monetary instruments and the operation of an unlicensed money transmitting business
21 February 2018   574

A US resident was arrested by the Bureau for the Control and Enforcement of Immigration and Customs Law on February 9 after he sold the bitcoins to the agent under cover. This is reported by Bitcoin.com.

According to documents in the case filed by the Southern District Court of California, Morgan Rockcoons (also Morgan Rockwell) is accused of laundering money and servicing cash transfer operations without a license. The government intends to confiscate all assets belonging to it, relevant to the case.

Arrest Document
Arrest Document

In the episode of money laundering, the defendant is accused of deliberately transferring a financial transaction to a representative of law enforcement agencies in order to obtain income from certain unlawful activities. In 2016, Rockoons traded 9,998 BTC, at that time valued at $ 9,208, for $ 14,500 in fiat, which was handed to him by an undercover agent, saying that the money was received from the production and sale of TGC oil (tetrahydrocannabinol-containing oil). TGC is the main active ingredient of cannabis.

As for the charge for servicing money transfer operations without a license, it is less specific, since it is subject to the majority of US citizens who sell large amounts of crypto currency, without the appropriate license. In one of the previous cases of this kind, law enforcement authorities stated that any transaction over $ 3,000 must be made in accordance with all requirements for customer identification.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   98

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.
 

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.