By the end of Friday, the size of the reward for mining bitcoin will have been cut in half. The event—known as the halving—takes place roughly once every four years, and it can be fatal for the mining companies that compete for the newly minted cryptocurrency. “You don’t see that in any other industry,” says […]
Bitcoin Miners Brace for the ‘Halving’—and Race to Cash In Read More »
An analysis performed on behalf of WIRED by crypto auditing company Hacken identified red flags in the token’s underlying code that might in some circumstances betray a scam. Those included the absence of a function that prevents the issuer from stealing away with the pool of tokens set aside to make trading on the secondary
Crypto FOMO Is Back. So Are the Scams Read More »
Shakeeb Ahmed, a cybersecurity engineer convicted of stealing around $12 million in crypto, was sentenced on Friday to three years in prison. In a press release, the U.S. Attorney for the Southern District of New York announced the sentence. Ahmed was accused of hacking into two cryptocurrency exchanges, and stealing around $12 million in crypto,
Security engineer jailed for 3 years for $12M crypto hacks Read More »
The system, says Hamilton, is designed to be “anti-fragile,” meaning it depends on no party’s good will to achieve its end. Nobody but the originator and recipient have access to the contents of the file, all other parties are financially incentivized to cooperate, and redundancies ensure the payload is always available. “Little strings of data
Sarcophagus Is a Dead Man’s Switch for Your Crypto Wallet Read More »
The defense attempted to draw a distinction between the failure of Terraform’s crypto assets, whose risk profile it implied was well understood by investors, and the acts of fraud alleged by the SEC. “Failure doesn’t equal fraud,” David Patton, attorney to Kwon, reportedly told the courtroom in his opening statement. The defense also sought to
Crypto Magnate Do Kwon Found Liable for Multi-Billion-Dollar Fraud Read More »
Faruk was born in February 1994, the youngest of three. He was inseparable from his brother, Güven, and sister, Serap. They grew up camping, playing video games, and cooking together. Friends always pointed out their shared sense of humor. His parents ran a print and copy shop in the city of Kocaeli, down the street
He Emptied an Entire Crypto Exchange Onto a Thumb Drive. Then He Disappeared Read More »
On March 12, Russian-Swedish national Roman Sterlingov was found guilty of money laundering conspiracy and other violations by a federal jury in Washington, DC, for having operated Bitcoin Fog, a service criminals used to launder what authorities claim was hundreds of millions of dollars in ill-gotten gains. The conviction was heralded by the US Department
The Science of Crypto Forensics Survives a Court Battle—for Now Read More »
How do you know the internet has a deepfake porn problem? Just look at copyright takedown requests. WIRED found this week that Google is receiving thousands of Digital Millennium Copyright Act complaints for deepfake nudes, most of which are published by just a handful of websites. Experts say the deluge of DMCA takedown requests is
Automakers Are Telling Your Insurance Company How You Really Drive Read More »
Federal prosecutors asked a New York judge on Friday to sentence FTX founder Sam Bankman-Fried to between 40 and 50 years in prison for cryptocurrency crimes they described as a “historic fraud.” Prosecutors made the request as they submitted their presentence recommendations to a federal judge who will sentence the man who at one time
Sam Bankman-Fried deserves 40 to 50 years in prison, prosecutors say Read More »
A judge in the UK High Court has declared that Australian computer scientist Craig Wright is not Satoshi Nakamoto, the creator of Bitcoin, marking the end of a years-long debate. “The evidence is overwhelming,” said Honourable Mr. Justice James Mellor, delivering a surprise ruling at the close of the trial. “Dr. Wright is not the
Craig Wright Is Not Bitcoin Creator Satoshi Nakamoto, Judge Declares Read More »
