New York state lawmakers have passed a two-year ban on energy-hungry proof-of-work crypto mining that uses carbon-based fossil fuel power plants. Energy-Hungry Crypto-Mining One of the big environmental challenges of cryptocurrency mining is that it requires a large amount of power. For example, Bitcoin “mining” uses specialised Bitcoin computers that are constantly powered on and connected to the cryptocurrency…
With its volatile past and with a recent survey showing that almost one-third of US small businesses now accept them as payment, we look who accepts CryptoCoins in payment for goods and services. Cryptocurrencies CryptoCoins / cryptocurrencies are a digital or virtual currencies, secured by cryptography and with no central issuing or regulating authority. Instead, cryptocurrencies use a decentralised…
A report by blockchain data platform ‘Chainalysis’ has shown a 30 per cent increase in cryptocurrency being used for money laundering in 2021 compared to the previous year. $8.6 Billion The 2022 Crypto Crime Report noted how cybercriminals laundered a massive $8.6 billion worth of cryptocurrency in 2021. The figure was arrived at by compiling the amount of cryptocurrency…
Max, a.k.a. “Mr Goxx”, the hamster that found Internet fame through outperforming many human cryptocurrency-traders, has died. Experiment With ‘Wheel’ Results The hamster’s life as a crypto trader was down to him being used as part of an experiment by an anonymous German lecturer and prototyping specialist duo who set out to demonstrate the randomness of the crypto markets….
An FBI announcement has warned that scammers are now directing victims to use physical cryptocurrency ATMs and digital QR codes to complete payment transactions. What Are Cryptocurrency ATMs? A cryptocurrency ATM is a physical kiosk/terminal/device that connects to a cryptocurrency network (e.g. bitcoin) and allows customers to purchase crypto tokens with deposited cash. Cryptocurrency ATMs are connected to the…
On 12 August, the Poly Network DeFi platform announced that, following the theft of $610 Million in digital coins, the hacker thieves had returned $342 million. However, it’s been reported that more recently, almost all of the stolen crypto has now been returned. The Hack The original theft, which had taken place just two days before (10 Aug), saw…
Police in Sandwell in the West Midlands recently discovered a warehouse that had been converted to an operation to illegally supply large quantities of electricity for Bitcoin mining. Same Heat & Electricity Profile as a Cannabis Farm The warehouse was raided by police after the heat generated, which had been spotted by the heat camera on a police drone,…
