Jack Daniels, a well-known name in the wine industry was just hit by a ransomware attack. The parent company of Jack Daniels, Brown-Forman Corp is claiming otherwise. But according to the ransomware gang REvil or Sodinokibi, the ransomware attack has been successful.

A cybersecurity service provider, AppGate put the incident into the limelight. It said, the manufacturer of Jack Daniels did fall victim to ransomware attack but it refused to pay the ransom amount to the hackers. After which the hackers claimed that it is selling the data on the darknet.

The famous whiskey manufacturer claims that it has successfully prevented the ransomware attack but REvil’s claims cannot be denied. The hackers have stolen sensitive data of the company and possibly stole it to the darknet.

Other Hacks By REvil

A security researcher at AppGate, Felipe Duarte pointed out that the hacker of whiskey manufacturer has revealed the screenshots of the stolen data. Duarte also confirmed that REvil has also attacked several other renowned companies.

Its main target has been from the oil, gas, insurance, and consulting industries. For example, quest-worldwide.com of Australia, eurecat.com in France, as well as the National Western Life of America.

The group of hackers has made a lot of money by selling the confidential data of some renowned companies. The data is sold to the highest bidder on the darknet or it can also be made public. If the ransom amount is paid to hackers by every other company, then these hackers will soon be able to attack many other companies.

An additional attack on a law firm known as GSMLaw was also done by REvil. These hackers have stolen almost gigabytes of legal documents containing information from many international celebrities.

This data was put on sale for $1.5 million on the “wall-of-shame” on the darknet blog. Duarte has also clarified that there’s no confirmation of the data stolen. It can be just a threat by REvil or an actual breach of data.

The Latest Popular Ransom Cryptocurrency Is Monero

Duarte has confirmed that Monero (XMR) is the latest favorite of hackers instead of Bitcoin (BTC). Recently REvil has migrated from Bitcoin to Monero to receive ransom payments. The only reason Monero is such popular among hackers is its ability to not be tracked.

Apart from many other attacks by REvil, the recent attack was on a Spanish state-owned railway infrastructure manager ADIF. After the railway infrastructure was attacked, hackers stole over 800 GB of data from ADIF.

Bitcoin price has already claimed 30% higher in the months of July. The volume has also increased to $334 billion in July among many top tired cryptocurrency exchanges. There are several factors which is effecting the price increase of Bitcoin. Let’s check what are the main three factors that are resulting more BTC price upside.

Factor 1- The spot-market is stagnant whereas derivatives-market is growing

The derivatives market spiked by 13.2% in July which shows a faster growth rate, while the spot-volume declined. The derivatives increased to $443 billion and the spot-volume declined 0.5% from its place. The dedicated is now representing 41% of the market-share of July. This trend is actually a presentation of the current cryptocurrency future which clearly says it’s bright.

This particular data can have two contradictory analyses. One of them is definitely, the growth and demand of bitcoin, overall. The demand is from the marketers and traders are reaching an overheated territory sometimes. When the bitcoin market will become the catalyst for the future market, it will definitely increase the chance of volatility.

The spot-market is not really complementing the futures volumes because the futures-contracts are leveraged, and as we can already see top-tiers are providing 100x leverage already, the chances of long-squeeze could increase resulting in a non-complementary spot-market.

Although many types of research by the end of July is showing that, spot volumes have picked up again amid the market bull run. The resistance still remains uncertain even though the spot volume and mainstream awareness are very much high to catalyze the bitcoin price breakout.

Factor 2- Bitcoin popularity

Tesla was the most viewed asset in America as reported on Aug 14, but another amazing news would be, bitcoin being on the second position. This popularity gain is 60% if shown in percentage since January. The futures volume and the drastic popularity of bitcoin are increasing very fast while the spot-volume is still lagging behind.

Factor 3- High hash rate

The all-time high rate of bitcoin blockchain hit on August 16. It was $129.07 million ‘tera’ hash/sec. This rise is good news for the mining industry and they are genuinely expecting higher bitcoin prices in the future. All these little yet noticeable factors in the bitcoin market is a potential factor for the rising value of the cryptocurrency market and the prices of bitcoin.

The thought of Winklevoss twins is that space mining is only around the corner.

Bitcoin is a popular cryptocurrency used in recent times. It is one of the easiest and adopted currencies by people and is also used for many reasons. From small to big purchases or investments, bitcoin has a significant role in the life of today’s generation. It was developed with blockchain technology and is the safest type of crypto, impossible to hack.

The controversy about the bitcoin regarding Winklevoss twins is trending nowadays. They supported bitcoin and told it a better investment than gold. They gave behind their statement that after Elon musk starts mining the asteroids, the supply of metal will increase.

Another reason given by the Winklevoss twins behind bitcoin as a better investment in an interview on the national level is that gold does not have a fixed supply, so bitcoin is a better investment.

In an interview with Portnoy, he asked the Winklevoss twins about their question whether the statement given by them on the gold and bitcoin is real or not? The founders of Gemini cryptocurrency positively answered this question with yes.

The further question that arose in front of Winklevoss twins was about the inferiority of bitcoin over gold. One of them had answered sensibly by saying a single statement that gold is only for the boomers, and bitcoin is the only fixed asset in the galaxy.

It is said that space mining is not the latest idea. Asteroids were mined with the profit, according to the planetary resources. This data was given by the website of the company data named Crunchbase. According to a report, the firm was later adopted by the Consensys, Etherum focused blockchain firm.

There is a prediction with some highly educated experts that if the development continues in this phase, then there will be soon the time when we will observe a new space race between the private companies that are looking forward to mining the minerals in space. According to the report of CNBC of May 2018, it is predicted that the materials that are lying in the core or belt of asteroids between Jupiter to mars hold great wealth, which could be equivalent to about $100 billion for every single person on the earth.

The title already spoke a lot about this matter. However, now let’s know in detail how some investors came up with a cryptocurrency scam in China and got red-handed by the police. Sounds quite a menacing one, isn’t it? So, let’s not waste any more time. Check this out and get updated about this horrible happening.

The News

Based on a very recent report, it came into notice that the Chinese police department has captured a scammers’ group as they introduced a brand new scam, a faux cryptocurrency strategy, in order to recover all the losses after they got deluded by numerous cons themselves related to crypto.

The Public Information Network Security Supervision Bureau made a statement in an article on WeChat that said that Yang, an investor, built up a false investment plan after being deprived of a sum of around 100000 yuan, which is equivalent to 14000 USD, to a cryptocurrency multilevel marketing project. He made a group with two other similarly deceived investors and introduced a brand new mobile application with a token known as “Baiye Chain”.

The report claims that this strategy made 20 such investors gather in Yancheng, Lianyungang, Huai’an, and many other places. The local police get to know this and immediately track them down and make a raid on their office in Lianyungang. On that account, Yang got handcuffed along with his group. They had already made an amount of more than 300000 yuan, nearly 43000 USD, in profits within then.

Scams Boost as CBDC Unfolds Looms

Another report arrived with the info that the crypto scandals in China have raised against CBDC pilot tests’ backdrop being continued in various regional cities. What the scammers are doing now is the impersonation of groups of “CBDC test” and making promises of more returns on the commencing investment amount which is actually starting from 10000 yuan, approximately equal to 1430 USD.

Adding to this, “the People’s Bank of China” made a clarification earlier this year that still there is not any timetable on an official launching of digital yuan.

End Line

So, that was all the information available for now about the specific fraud and anything related to it. Hopefully, there would be more updates coming regarding this mess. You must have gotten all the information you were looking for about this horrible phenomenon that really made the Chinese police department shook and exhausted.

The world is experiencing a frightening pandemic that has spread its tentacles over all aspects of humanity, and the crypto-currency exchange market is one of them. The altcoin did experience a little boost in its price recently; adding hope in the investors’ hearts but bigger news has popped its head around the corner which may not be that melodious to the ears of crypto-enthusiasts. Old wise gurus of the trading industry warn altcoin users that bitcoin may be facing an imminent threat due to a variety of reasons, the biggest of which is a bubble forming in the tepid waters of NASDAQ.

The Underlying Reason

An industry guru believes this imminent threat may be caused by an unexpected reason that not many have predicted. This expert who has run a highly-regarded trading research firm for forty years believes the NASDAQ bubble will be the game-changer. This has been looming over the head of traders due to a correlation between the biggest altcoin that is bitcoin and certain stocks. The correlation at first, was not very significant and had escaped the notice of the gatekeepers. But this insipid link had reached a huge rise that seems to be the end of crypto-times.

Over-estimation and other problems

The skewed schematic of the trading market is not the only problem plaguing potential crypto-currency investors. Another big hurdle lies in the over-estimation of technological stocks since the beginning of the month. This threatens the tell-tale formation of the NASDAQ bubble of financial ruin. This new disaster seems to be succeeding the previous disaster of the tech bubble from twenty years before, that pulled the chair underneath of many enthusiastic investors. This new one may cause even a more dangerous upheaval that will force Bitcoin to abandon hope and leave with whatever little they can save.

But it is better to take this news with a pinch of salt since the over-all faith in this block-chain based beauty remains song. Investors have never stopped putting more money in certain areas despite the crippling effects of the pandemic. With still long exchanges happening at various blockchain platforms, hope remains present. The bitcoin has even experienced a significant uptick in its recent valuations with a rise that has settled at around nine thousand and five hundred dollars. There is a mix of uncertainties and reliance among investors concerning crypto-currency; only time will tell where the money lies.

In another bitcoin scam, the Canadian cleaner falls victim. The name of the cleaner is Jocelyn. As per the statement by Jocelyn, she has spent all his life’s savings by investing in cryptocurrency. But, he was duped.

About Jocelyn

Jocelyn is a calendar, and he worked for Sean Moore. Sean Moore is a lobbyist who spoke on behalf of Jocelyn. He said that the fraudulent chat with Jocelyn is a small part of major fraud going on in the Crypto world.

Jocelyn had almost $10000 in crypto-assets, and she has saved this her entire life. She is a native of the Philippines, and she came to Canada to look for better opportunities for her daughter. She has been staying in Canada for more than eight years now. For the last years, she has worked at different places, and the $10,000 investment in crypto assets was her only savings. She thought of getting huge returns on her investment, but nature had something else made up for her.

The story of fraud

On a particular day, Jocelyn received a call from an unknown number. The women from the other side claimed that her Social Security Number was used for fraudulent means, and few hackers were using it for money laundering and drug-related business.

The women from the other side Jocelyn provide her Social Security Number so that they can investigate the matter. Jocelyn had no idea that all of these steps were a part of a bigger scam. Jocelyn was also asked to empty all her financial accounts. The women also asked Jocelyn to act as she was being monitored by hackers continuously. After that, Jocelyn was asked to visit the nearby Bitcoin ATM, where she had to transfer money, the women informed Jocelyn that her money would be back into her account once the investigation is over.

Jocelyn was too stressed about the issue, and she totally trusted the women and thought of her as a person from a higher authority who was helping her from the frauds of hackers.

She could not believe that she was being cheated by the same woman who was calling her.

Jocelyn asked when she will get her money back, and she was informed that she would receive it once the investigation is over.

After many days of calling, she received no reply or confirmation from their end. She informed this to Sean Moore, who understood that Jocelyn had been robbed. When they went to the bitcoin Atm, the guard informed them that they had no responsibility for the money, and he was not even sympathetic towards her condition.

These days, Cryptocurrency frauds are increasing as the number of hackers, and spammers are focused on getting money. Thus, it is important for the cryptocurrency agency as well as customers to care for their security. In addition to this, there is also a lack of knowledge and education among the users regarding the security and safety of cryptocurrency. We can only hope that incidents like these don’t get repeated in the future.

Users cannot change their habits easily. From cash transactions to digital payments, it was a long journey to transform the form of payment, and now one more platform is prepared for modern users. It is about using a virtual currency that one can carry on his digital device. Hence one does not need to carry cash anywhere as the transaction with the help of virtual currency can be easily done. Among these virtual currencies, the Bitcoin is the most known one. There are also many more currencies in this market. Many people are not interested in cryptocurrencies only because they have a negative image in the market. Most people associate cryptocurrency transactions with tax evasion and money laundering activities. This is true to some extent, and hackers also demand ransom in cryptocurrencies to avoid detection by law enforcement agencies. This is also an excellent platform for fraudsters to run Ponzi schemes that attract a lot of novice investors.

Let us take a look at some of the most famous pyramids that cheated investors in the crypto world. They usually promise high returns or pay money for referring to other investors. While this goes on smoothly for a few years, it later takes an ugly turn, and most investors lose their money in such schemes. If you are not experienced in this market, you should always stay cautious and stay away from companies that promise high returns in a short duration of time. Those who are behind short term benefits can be duped by them.

OneCoin

This is by far the biggest cryptocurrency pyramid that ran for three years from 2014 till 2017. About three million people were victims of this fraud, and the total amount of investor wealth that was lost was around $5 billion. The modus operandi was simple, and every person received a reward for inviting a new investor. They made claims that the value of OneCoin will exceed that of Bitcoins in the near future. The interesting thing is that they did not even have a blockchain, and it was functional only on their pyramid sites. The Bulgarian government issued warnings about this, and the pyramid was forced to leave that country. Later on, many other countries banned the pyramid, and the promoters vanished into thin air after the ban.

BitConnect

The most interesting part about this pyramid is that it was developed by unknown developers and still managed to collect over 3.5 billion in two years. It promised a return of 40% per month, and investors can start with a minimum amount of $1000. When this drew the attention of the authorities across the world, the price fell nearly 90%, and the organizers were arrested for fraud.

PlusToken

This pyramid scheme was widely announced on the WeChat platform and promised to deliver returns of 10-30% per month. More than 4 million people became victims of this scheme, and the total amount of investor wealth lost was close to $3 billion.

Why do such companies thrive in the crypto world?

Such companies usually prefer the crypto market as investors are looking for new opportunities in this market. Apart from that, it can be easily floated online, unlike various other schemes, and this gives the fraudsters some sort of protection. In some cases, the real identity of the people behind such schemes is not known, and they get away with the crime without much punishment. The investors in this segment are also more adventurous compared to the regular investors in the stock market or commodity market. Considering all these reasons, this cryptocurrency market is an attractive place for such financial pyramids.

The value of Bitcoin has been steadily increasing ever since it first came to the market in 2008. They are used all around the world and are the easiest way to make cross border payments instantly. It is also not affected by any economy or the global financial situation, making it a great investment for the future. Industry experts feel that its value will grow even more in the coming years. But despite the popularity of Bitcoin, most people are worried about the best ways to buy Bitcoin. While the process may seem easy for seasoned cryptocurrency enthusiasts, beginners might find all the different information overwhelming.  

Factors to Consider When Buying Bitcoin in 2020

The third halvening event to be held in 2020 is expected to reduce the award for miners by almost half. The previous two halvening events have been very beneficial as the value of Bitcoin has considerably increased, and the third one is expected to be even better. When people think of Bitcoin, most people fear to lose their money to scams. But, there is certainly a safe way to buy Bitcoin. There are plenty of companies out there that allow you to buy Bitcoin safely. The availability of these companies will depend on the country you are located in. It is all about being careful and considering the following factors when picking the right companies to choose from –

• Registered Company – It is important to look for a registered company to purchase Bitcoin from. It should be trusted and should have proper licensing to operate in your country. You should also check how long they have been in business in the country.
• Transparent Processing Fees – Transparency in fees is another factor that is essential when buying Bitcoin. The rates and the processing fees should be clearly displayed on the page before you hit the ‘buy’ button. You do not want to pay more than you had previously imagined.
• 24/7 Customer Support – The company should provide 24/7 customer support to assist their customers. There should be multiple options such as email, live chat, messages, or contact numbers so that customers can reach out in the best way possible.
• Payment Methods – Most companies provide different payment method options for their customers to choose from. Some of the popular options include debit/credit card, Skrill, bank transfer, PayPal, wallets, and others. 

Evaluating the best way to buy Bitcoin may take some time and patience. It is important not to rush things as the mistakes might be irreversible. Thus, you need to be absolutely sure when and where you would buy Bitcoin from. 

Types of Platforms to Buy Bitcoin Safely

There are three different ways for you to purchase Bitcoin from. Here is a detail of the different platforms you can buy Bitcoin from –

• Brokers – Brokers are websites through which you can purchase Bitcoin at a price set by them. Even though they have high processing fees, they are usually the most simplest to use. It is the reason why they are the most popular ways to buy Bitcoin.
• Trading Platforms – Trading platforms are websites or apps that connect the sellers and buyers. They do not directly deal with Bitcoins. The sellers sell their cryptocurrency, and the buyers pick them without directly communicating with each other. The platform charges a small fee for the service. It is also the cheapest way to buy Bitcoin, but there might be some limitations too.
• Peer-to-Peer Platforms – P2P platforms allow buyers to contact the sellers directly and vice versa. They have the option to negotiate on the price. But, these also come with a little risk as you will be dealing with an anonymous seller. But, P2P platforms are available in different countries; offer several payment options and others.

Irrespective of the way you choose to buy Bitcoin from, you need to be happy with the service and the price you get. There is no reason why you should worry about paying a little more if you get a quick and reliable service. If you have been worried about the best way to buy Bitcoin from, remember that it is much easier than you think. It is all about making the right choices.

Trading is an art, and if you wish to achieve at art, you have to do in-depth research. There are a few strategies that you can apply to trade bitcoins and exhale in it. But before we elaborate on the best strategy, there are a few things to know before you start trading bitcoins.

 Promising Strategy for Bitcoin Trading- OBV Indicator Analysis

The promising ways to start trading using OBV Indicator, as follows

 Check OBV Indicator

You need a good trading platform because you have to measure your gains. The OBV indicators are generally present in most trading platforms, that help traders check the money going in and out of the market. OBV can be expanded as On Balance Volume. Mitigating risk even before it happens, is the sign of a good trader. The risk of bitcoin trading is the fickle nature of bitcoin prices. Therefore, it is essential that you sketch a way out in the beginning.

 Research and Analysis

It is vital to do in-depth research on the strategy you have chosen. Read various books, journals, articles, listen to videos, podcasts, etc. before you choose your best option. A trading plan is the second important step if you want to achieve something by bitcoin trading. You should have a plan for each result that might befall on you. Even if you fail, you have to already pick your way out. All these plans might look foolproof, but they all come with risk.

 Smart Money Divergence

Bitcoin exchanges should be considered carefully. Everything depends on your choice of the bitcoin exchange. There are various bitcoin exchanges to choose from. Be careful with this decision. Make this decision after doing every research on bitcoin trading. You have to read a lot of books on bitcoin trading before you join the e-trading market. Theoretical knowledge is also necessary for trading along with practical experience.

 Trend Trading

The first strategy should be keeping an eye on the trends. It is very important to realize what strategy you are to follow and the outcomes you are expecting from it. Be prepared for every consequence you are about to face. Read blogs, journals, and expert reviews about the newest trends in bitcoin trading. This will help you trade better. The changes in the trends are results of various aspects like government regulations, other business organizations entering the cryptocurrency market, and so on. Therefore, it is important that you make sure to follow the trend, to trade better. 

 Hedging

Hedging is simply a protective measure to ensure that your money is never wasted. As you already know, that bitcoins are volatile, the amount fluctuates depending on the market. As a defensive measure, you need to hedge your bets to be on the safer side. For example, it would be desirable if you sell out your bitcoins wishing that the prices are down and you can buy it at lower rates. But if unfortunately, the prices go up, your strategy would fail. There are various other ways to increase your value, but that will surely come with some risks. Trading is all about risks if you are ready to take risks; you are already a trader.

 Conclusion

Bitcoin trading is a risky business. Therefore it is very important that you always have a risk management plan ready. Various strategies will help you gain huge profits if the calculations are right along with damage control management.

• Paying attention to the volume, that is, the stability and susceptibility of the market. Read the signs before investing or selling.

• Relative Strength Index is an important aspect to look for. RSI specifies the market situation, which in turn helps you in trade.

• Money Flow Index calculation is essential because it estimates the inflow and outflow of money.

The correct trading strategy is the one that comes out after using every measure possible along with damage control. You need to be patient, analytical, disciplined, and should have far-reaching insight about the decision you will take. Hence, analysis is the architect of a good trading strategy!

Civic Technologies, the software giant, has done some valuable research and has come up with Ethereum, an ingenious application that organizations can use to access their employees’ COVID-19 vaccination status.

Right now, the world’s focus is on preventing the spread of Coronavirus infection. Preventive vaccinations are in the final stages of clinical testing. After these become available, people can safely go back to their regular lives, and businesses will work on full strength. But till such time, the organizations will need to know who has used the vaccine. And this is what Ethereum will help with.

At the onset of this global pandemic, Civic Technologies made some additions and modifications to the Ethereum app for Circle Medical, an affiliate of UCSF hospital, San Francisco. This world-class medical research center is now using this app to record the Covid-19 test results of its staff. UCSF management also proposes to use this software for accessing the Covid-19 vaccination status of the workers.

The information remains in a digital blockchain format on the Ethereum app. It is completely secure and not under the control of any agency. Users have to share a unique key to share it with anyone. There is a record of all those who access the information. This makes it transparent, and everyone is accountable for their conduct. So if a person is sharing the COVID-19 test result, no one will know the name or identification details.

Several malls, stadiums, and other public service providers also plan to use it to ensure the visitors’ safety. Civic Technologies is in conversation with medical sector giants and government offices who wish to use Ethereum. The names of these are under non-disclosure protocols. Ethereum will have a large user base amongst all public entertainment giants. Even sports event organizers can use this app to ensure that all the spectators in a baseball stadium are vaccinated.   

The best thing about Ethereum’s blockchain technology is the security of data. A block stores the information, and a cluster of blocks form a chain. A group of computers manages these unalterable data. The storage is on an electronic ledger. The user has two keys, one is public and the second is private. One who has a unique public pass-key can access the user’s information. The private pass-key is for authentication and encryption of the records. So when the organization obtains the employee’s data, only the COVID-19 vaccination record will be visible. Ethereum will share no other information.

Any user can download the Ethereum application from either Google Play or Apple’s App Store. The login requires name, mobile number, and personal identification. Users can secure this app with a fingerprint or face ID. 

This app will then access the person’s COVID-19 vaccination details from the healthcare provider’s electronic records.

In the year 2017, Civic, as a start-up, was successful in raising $43 million for developing useful and innovative software applications. They came up with the Ethereum application at that time. It uses the latest blockchain technology for storing information on the cryptocurrency, Ether. The principle of blockchain is the distribution of information digitally without allowing storage. Users can trade and make secure electronic digital payments on this app.

This pioneering application, Ethereum, will support humanity in its fight against Coronavirus. The latest blockchain technology will help record the COVID-19 vaccination or test data with transparency and security. The app will access the documents from the healthcare providers’ website to preserve authenticity. Civic Technology’s Ethereum app will make sure that the world economy booms again healthily.