Archive for the ‘Economics’ Category

Glitch on Bitcoin Exchange Drops Prices to Zero Dollars, User Tries to Make Off With Trillions

Zaif, A cryptocurrency exchange in Japan reportedly experienced a temporary glitch last week that suddenly offered investors their pick of coins for the low, low price of zero dollars. Several customers took advantage of the opportunity, but one really ran with it. According to Reuters, it was possible to buy cryptocurrencies for free on the […]

Tesla accused of knowingly selling defective vehicles in new lawsuit

A former Tesla employee claims the company knowingly sold defective cars, often referred to as “lemons,” and that he was demoted and eventually fired after reporting the practice to his superiors. He made these allegations in a lawsuit filed in late January in New Jersey Superior Court under the Conscientious Employee Protection Act (CEPA).The former […]

Coinbase empies bank accounts without consent

Digital currency exchange Coinbase said it inadvertently charged punters for transactions they never made, effectively draining money from their bank accounts. It has promised to refund the money taken. For the last few days, netizens have been complaining that funds had vanished from bank accounts linked to Coinbase without reason. Some people report multiple charges […]

Koinz Trading Bitcoin mining pyramid game enters receivership

At least 60 people fall for Koinz Trading, that claimed to buy and run a BTC miner for you for the price of EUR 6100 + EUR 23 per month. Payments stopped in September. Rumor has it that the founder Barry van Mourik was selling the computers to pay for his debts. Zeker zestig gedupeerden […]

LoopX Startup Pulls ICO Exit Scam and Disappears with $4.5 Million

A cryptocurrency startup named LoopX has pulled an exit scam after collecting around $4.5 million from users during an ICO (Initial Coin Offering) held for the past weeks. The LoopX team disappeared out of the blue at the start of the week when it took down its website and deleted its Facebook, Telegram, and YouTube […]

At least 4200 popular and large websites hijacked by hidden crypto-mining code after popular plugin pwned

Thousands of websites around the world – from the UK’s NHS and ICO to the US government’s court system – were today secretly mining crypto-coins on netizens’ web browsers for miscreants unknown. The affected sites all use a fairly popular plugin called Browsealoud, made by Brit biz Texthelp, which reads out webpages for blind or […]

The gender pay gap at Uber is small and has a reason

Specifically, the study stated, drivers who make runs for Uber more frequently are more likely to know where and when to operate in order to get the highest-paying fares. Thus, because women, on average, spend less time driving for Uber than their male counterparts, they are less likely to be around to grab the highest-paying […]

Japanese cryptocurrency exchange loses more than $500 million to hackers

Coincheck said that around 523 million of the exchange’s NEM coins were sent to another account around 3 a.m. local time (1 p.m. ET Thursday), according to a Google translation of a Japanese transcript of the Friday press conference from Logmi. The exchange has about 6 percent of yen-bitcoin trading, ranking fourth by market share […]

Hackers Hijacking CPUs to Mine Cryptocurrency Have Now Invaded YouTube Ads

As Ars Technica first reported on Friday, users on social media started complaining earlier this week that YouTube ads were triggering their anti-virus software. Specifically, the software was recognizing a script from a service called CoinHive. The script was originally released as a sort of altruistic idea that would allow sites to make a little […]

Security Breaches Don’t Affect Stock Price. Or don’t they?

Abstract: This report assesses the impact disclosure of data breaches has on the total returns and volatility of the affected companies’ stock, with a focus on the results relative to the performance of the firms’ peer industries, as represented through selected indices rather than the market as a whole. Financial performance is considered over a […]

Crypto-cash exchange BitConnect pulls plug amid Bitcoin bloodbath

Amid a cryptocurrency price correction that has seen the price of Bitcoin drop by half from its mid-December peak, UK-based cyber-cash lending and exchange biz BitConnect said it is shutting down. The firm, dogged by accusations that it is a Ponzi scheme, cited bad press, regulatory orders, and cyber attacks for its market exit this […]

Wall Street Analysts Are Embarrassingly Bad At Predicting The Future, Study Finds

The researchers looked at a database of long-term growth forecasts made for all domestic companies listed on a major stock exchange. The forecasts are made in December each year, and predict how well a company’s stocks will do over the next three to five years. From 1981 to 2016, they found that the top 10 […]

Major Cryptocurrency Index Excludes Korean Prices Without Warning, creates apparent drop in prices

CoinMarketCap, arguably the most prominent global index of cryptocurrency prices, triggered a wave of anxiety and anger this morning when it removed a group of Korean cryptocurency exchanges from its price calculations.Though the change was apparently made at midnight Sunday U.S. EST, CoinMarketCap did not publicize it until midday on Monday, saying that the Korean […]

Chrome Extension with 100,000 Users Caught Pushing Cryptocurrency Miner

A Chrome extension with over 105,000 users has been deploying an in-browser cryptocurrency miner to unsuspecting users for the past few weeks.The extension does not ask for user permission before hijacking their CPUs to mine Monero all the time the Chrome browser is open.Named “Archive Poster,” the extension is advertised as a mod for Tumblr […]

The Founder of Litecoin Says He No Longer Owns Any Litecoin

“[W]henever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence,” Lee, who […]

Coinbase Freezes Bitcoin Cash Trades, Launches Insider Trading Probe

Coinbase, one of the world’s most popular cryptocurrency apps, surprised its users by adding Bitcoin Cash to its offerings on Tuesday. But it appears that not everyone trading in the altcoin was blindsided by the move. Before the announcement, prices for Bitcoin Cash began climbing in other markets, and now a self-investigation of possible insider […]

Bitcoin exchange Youbit shuts after second hack attack – BBC News

A crypto-currency exchange in South Korea is shutting down after it was hacked for the second time in less than eight months. Youbit, which lets people buy and sell bitcoins and other virtual currencies, has filed for bankruptcy after losing 17% of its assets in the cyber-attack. It did not disclose how much the assets […]

Coinbase warns of potential outages

Over the course of this year we have invested significant resources to increase trading capacity on our platform and maintain availability of our service. We have increased the size of our support team by 640% and launched phone support in September. We have also invested heavily in our infrastructure and have increased the number of […]

‘Grinch bots’ are stealing Christmas

“Bots come in and buy up all the toys and then charge ludicrous prices​ a​midst the holiday shopping bustle​,” the New York Democrat said on Sunday. “​Cyber bots ​— ​we call them ‘Grinch bots’ — ​are expanding their reach and​ ​unfairly scooping up the hottest toys your parents can’t even click buy.​”​​For example, Schumer said, […]

An Ethereum Startup (Confido) Just Vanished After People Invested $374K

Confido is a startup that pitched itself as a blockchain-based app for making payments and tracking shipments. It sold digital tokens to investors over the Ethereum blockchain in an ICO that ran from November 6 to 8. During the token sale, Confido sold people bespoke digital tokens that represent their investment in exchange for ether, […]

Ex-agent in Silk Road probe gets more prison time for bitcoin theft

Shaun Bridges, 35, was sentenced by U.S. District Court Judge Richard Seeborg in San Francisco after pleading guilty in August to money laundering in the second criminal case to be brought against the former agent, prosecutors said.Bridges, who served in the Secret Service’s Baltimore field office, was sentenced in 2015 to 71 months in prison […]

~$300m of Etherium accidentally lost forever by Parity due to bug

More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.Unlike most cryptocurrency hacks, however, the money wasn’t deliberately taken: it was effectively destroyed by accident. […] On Tuesday […]

Bitcoin Pioneer Says New Coin to Work on Many Blockchains

The mobility means that if one blockchain dies out as the result of infighting among developers or slackened use, metronome owners can move their holdings elsewhere. That should help the coins retain value, and ensure their longevity, Garzik, co-founder of startup Bloq that created metronome, said in a phone interview. It will be unveiled Tuesday […]

AMD sales soar, actually makes a profit, beats expectations, share price… decimated

Personal TechAMD sales soar, actually makes a profit, beats expectations, share price… decimatedIntel’s antitrust shield even loses when it winsBy Shaun Nichols in San Francisco 25 Oct 2017 at 00:0816 Reg comments SHARE ▼guitar player on shuttertsock photo of (sisyphus) man rolling a rock up a hill. photo by SHutterstock/PHOTOCREO Michal BednarekAMD revenues were up, […]

This Company Added the Word ‘Blockchain’ to Its Name and Saw Its Shares Surge 394%

n-line Plc jumped as much as 394 percent on Friday after announcing plans to change its name to On-line Blockchain Plc, following an initial climb of 19 percent on Thursday when it first announced the news. It’s the biggest one-day gain for the small-cap company since its December 1996 listing. The trading volume that reached […]

 
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