Bitfinex Security Breach

Bitfinex has had a security breach today and has halted trading.

At this point in time no one knows how many BTC have been stolen.

Here are the most important links to keep you updated:

There is a message at https://www.bitfinex.com

You can see the current status of the investigation here: https://bitfinex.statuspage.io

Constant updates can be found on Reddit at:

https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/

https://www.reddit.com/r/btc/comments/4vtv67/bitfinex_security_breach/

We will update this post as more information comes available…

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Bitcoin ‘creator’ backs out of Satoshi coin move ‘proof’

BBC writes:

The entrepreneur who has claimed to be the inventor of Bitcoin has reneged on a promise to present new “proof” to support his case.

Craig Wright had pledged to move some of the virtual currency from one of its early address blocks, an act many believe can only be done by the tech’s creator.

This would have addressed complaints that earlier evidence he had published online was misleading.

Dr Wright said that he was “sorry”.

“I believed that I could put years of anonymity and hiding behind me,” he blogged.

“But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot.

“When the rumours began, my qualifications and character were attacked. When those allegations were proven false, new allegations have already begun. I know now that I am not strong enough for this.”

Read the full article at the source: http://www.bbc.com/news/technology-36213580

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Craig Wright reveals himself as Satoshi Nakamoto

The economist writes:

FIVE months after Craig Steven Wright, an Australian computer scientist and businessman, was outed against his will as Satoshi Nakamoto, he says he is indeed the creator of bitcoin. On May 2nd he published a blog post offering cryptographic proof, backed up by other information, to make his case. Along with two other media organisations, The Economisthad access to Mr Wright before the publication of his post. Our conclusion is that he could well be Mr Nakamoto, but that nagging questions remain. In fact, it may never be possible to prove beyond reasonable doubt who really created bitcoin. Whether people, particularly bitcoin cognoscenti, actually believe Mr Wright will depend greatly on what he does next, after going public.

In December, after he was outed, Mr Wright stayed silent. So why has he now changed his mind? “I’m not seeking publicity, but want to set the record straight,” he explains. He says he called himself “Nakamoto” after a 17th-century Japanese philosopher and merchant, Tominaga Nakamoto, who was highly critical of the normative thought of his time and favoured free trade. (He doesn’t want to say why he picked “Satoshi”: “Some things should remain secret.”)

Continue reading at the source HERE

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Bitcoin Is Suddenly Surging Again

Bloomberg writes:

Bitcoin is back in the news, but this time it seems to be for all the right reasons.

After a blockbuster 2013, the digital currency tumbled throughout 2014 on negative headlines, such as the February 2014 bankruptcy filing of Mt. Gox, a Tokyo-based Bitcoin exchange. Since then, the currency has been bouncing back and forth between $200 and $300.

That is, until now.

Bitcoin has embarked on a seven-week winning streak, the longest since November 2013, according to Bloomberg data. Industry experts and insiders have a range of reasons for the recent surge.

Market participants are citing two big reasons for the rally. The first is enhanced interest and acceptance from established financial companies. Much of this is due to Bitcoin’s blockchain technology, which Goldman Sachs, Morgan Stanley, and a number of other firms have taken an interest in as they seek to apply it to overhauling the trading of securities, derivatives, and loans.

Read the fill article at bloomberg HERE

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US Government to Sell Over 44,000 Bitcoins Today

Coindesk reports:

The US Marshals Service (USMS) has begun its auction of 44,341 BTC seized from convicted Silk Road operator Ross Ulbricht, marking the final sale in a process that began in June 2014.

The tranche constitutes the remainder of as much as144,000 BTC seized from Ulbricht, who ran the Silk Road dark marketplace under the pseudonym Dread Pirate Roberts. Ulricht was sentenced to life in prisonin May, though he is appealing the verdict.

Read the full article at the source HERE

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Trading on Bitfinex halted

Trading on Bitfinex halted – data corruption the possible cause?

This post will be updated as new information becomes available.

There is also a reddit Thread with updates:

https://www.reddit.com/r/BitcoinMarkets/comments/3idgx2/bitfinex_halts_trading_due_to_data_corruption/

Update 8:33 UTC

Update on Reddit: “Trading has resumed. I’ll try to make a post in here today/tomorrow with a full recap of what has taken place.” Source

Update 08:20 PM UTC

It is possible to set and cancel trades. Still no news from bitfinex.

Update 08:05 PM UTC

Some trades are going through but it does not look normal. No official statement from bitfinex yet.


 

Bitfinex just stopped trading until all problems are fixed. Withdrawals are processed manually as mentioned in a tweet earlier.

Bitfinex tweeted:

Bitfinex had trading problems earlier this week and halted trading for several hours on Monday. Today after several short downtimes trading has stopped completely until all problems are fixed.

 

 

 

 

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Its not about Greece buying BTC, its about public realization of capital controls.

A great comment i came across on the Bitcoin subreddit by u/PhiMinD:

Bitcoin is just a lifeboat in the sea of doubt surrounding modern economic policies. The potential for people to utilize such a lifeboat, with a very particular set of skills, is highly likely. Also, judging by how small the Bitcoin community still is, the potential for growth is astronomical.

Its rather shortsighted to think otherwise.

You can find the post and all the comments HERE

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PayPal no longer works in Greece – and why that matters

An Article by Shelly Banjo:

Adding to their list of woes, Greeks can no longer use their PayPal accounts.

Limits on how much money Greeks can take out of banks put in place by their debt-stricken government as it negotiates with lenders have effectively crippled the online payment service, which relies on traditional banks and credit cards to transfer money.

According to a PayPal spokesman:

Due to the recent decisions of the Greek authorities on capital controls, funding of PayPal wallet from Greek bank accounts, as well as cross-border transactions, funded by any cards or bank accounts are currently not available. We aim to continue serving our valued customers in Greece in full, as we have for over a decade.

Continue reading the article at the source HERE

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MovieTickets.com Brings Bitcoin to Over 900 US Movie Theaters

Coindesk reports:

MovieTickets.com, one of the largest movie ticket purchasing platforms in the US, now enables movie-goers to buy movie tickets with bitcoin at 985 theaters.

The move was made possible through an integration with bitcoin payment processor GoCoin. As a result, theater chains that use the credit card processing services offered by MovieTickets.com will be able to accept bitcoin for any film offered.

GoCoin CEO Steve Beauregard indicated that this includes Regal Cinemas, the nation’s largest theater chain with more than 500 locations. Holdouts notably include AMC Theaters, which itself boasts more than 300 locations in North America.

The partnership is the latest betwen GoCoin and a movie industry firm, following the May announcement that it was in talks with production studio Lionsgate Films.

You can read the rest of the article at Coindesk here:

http://www.coindesk.com/movietickets-com-bitcoin-payments-900-movie-theaters/

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