Hackers Suspected of €24M Worth Crypto Stolen Busted

Six men in UK and Netherlands used fake websites with "typos" to still users' assets
26 June 2019   621

Law enforcement authorities in the UK and the Netherlands arrested six people suspected of a series of theft of bitcoins totaling more than 24 million euros. Europol and Eurojust also participated in the operation.

The arrests were carried out simultaneously on Tuesday morning, June 25, in several cities in the UK, as well as in Amsterdam and Rotterdam, and were the result of an investigation that lasted 14 months. Among the detainees was one woman.

In their activities, the attackers used "tiepsquatting", they registered domain names similar to the addresses of cryptocurrency exchanges and companies.

The user who made a typo when entering the address, got on the fake site, visually indistinguishable from the original. If he tried to enter his personal account, the criminals gained access to his data.

According to law enforcement, the victims of the scheme were at least 4,000 users from 12 different countries, while their number, as suggested by Europol, may be even higher.

The exact amount of stolen bitcoins is not specified.

Earlier it became known that Europol is developing a computer game that will allow employees to train to track cryptocurrency transactions in criminal offenses.

Wilshire Phoenix to Update BTC ETF Application

It's planned that the exchange traded fund will be provided not only by the crypto, but also with treasury bonds
17 October 2019   110

Wilshire Phoenix and NYSE Arca have amended the application for the launch of Bitcoin ETF.

The fund will be provided not only with the first cryptocurrency, but also with treasury bonds.

The custodian of digital assets will be Coinbase Custody. The company will confirm the availability of bitcoins in providing the fund within five working days from the moment of monthly rebalancing.

To determine the value of the bitcoins held, the fund will use the base rate of the Chicago Mercantile Exchange - CME CF Bitcoin Reference Rate (CMR CF BRR).

Wilshire Phoenix recommended that the US Securities and Exchange Commission (SEC) focus on the spot market for bitcoin, which plays a key role in determining its value.

The SEC has already begun to accept public comments on the updated proposal.

Wilshire Phoenix and NYSE Arca filed an initial application in May. At the end of September, the SEC postponed a decision on it.