BBB: Businesses Hit By "Bitcoin Extortion" Scheme Safe From Bad Ratings
Remember those extortion letters a number of businesses began receiving a few weeks ago? The Better Business Bureau has come out to say "don't worry" about the whole thing. And just in case you're not briefed on the matter, a number of business owners received letters with an explicit threat: pay up or horrible things will happen to your business. The blackmail letters read: You business, BUSINESS NAME, has been targeted for extortion. The selection process is random, and was not triggered by any event under your control. Should you fail to pay the one-time monetary tribute, by the....
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A Tennessee man was recently found guilty on charges of extortion and wire fraud scheme in the attempted extortion of former Republican Presidential nominee, Mitt Romney. The extortion scheme from 2012 saw the accused demand $1 million in bitcoin in exchange for purportedly stolen tax returns belonging to Romney. A faux-hacker who tried to snag a million-dollar ransom in bitcoin in exchange for 2012 Republican Presidential nominee Mitt Romney’s tax records has been found guilty. In an announcement by the U.S. Department of Justice, Michael Mancil Brown, 37, was convicted of six counts of....
Extortion for Bitcoin has become more and more common within the United States, with families, businesses and even police departments under attack. Anywhere from a couple of bitcoins to one hundred or more are demanded. The problem has been domestic, but now other major Bitcoin markets like Australia and New Zealand are feeling the effects of those desperate enough for Bitcoin that they turn to a life of crime. A scourge of DOS attacks has hit the region, according to ZDNet. Extortion in Australia by an Unknown Group. The identity of the group or its participants is unknown at this time,....
Is El Salvador ’s decision to use Bitcoin as legal tender a risky proposition? Probably so. And now, we have the expert opinion of credit rating provider Fitch Ratings to prove it. To be fair, most of what they say is true. Bitcoin is volatile. At first, all businesses will probably exchange the BTC they […]
Cryptocurrency forums are littered with stories of scams and bad customer service. Now, a cryptocurrency ratings agency is hoping to quantify the community's view of various bitcoin businesses. Cryptoagency.org will use a reputation system to reflect a company's quality. But, the question remains, do we need a ratings system for cryptocurrency businesses? Roger Ver, bitcoin entrepreneur and CEO of Memory Dealers, who has had to deal with malicious parties himself in the bitcoin world, said that he doesn't believe the bitcoin industry has been disproportionately affected by scams. He....
The crypto exchange and finance platform said it got high ratings for privacy and security using standards developed by a U.S. government agency.