Feds Seize $25k in Bitcoin from Software Piracy Racket
Federal officials recently raided a software piracy racket and seized a wide range of upscale assets, which includes a huge chunk of digital currencies Bitcoin and Litecoin. As per the available information, the alleged software counterfeiting organization - known as Technolutions - had around 105 BTC and 999 LTC, which were held by its alleged operator Rex Yang. Other items cited in aforesaid civil forfeiture included $7 million in cash, gold and silver coins, as well as expensive rings, cars and one Rolex watch. They all were seized from a number of companies located in Maryland,....
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Welcome to the latest edition of the NewsBTC Weekly Bitcoin Recap, where we highlight our top stories of the week. Let's take a look at the biggest headlines for the week of February 8-14, 2015. 1. Hong Kong "Bitcoin Exchange" Mycoin Reportedly Goes Bankrupt - as reported on February 9th. Hong Kong-based Bitcoin exchange MyCoin.hk is reported to have gone bankrupt, taking away US$390 million worth investors' funds with it. In reality, only 8.1 million was stolen from gullible ponzi scheme victims. According to The South China Morning Post, the lost money belongs to a total of 3,000....
The major software developer’s new plan to combat piracy relies on the transparency of blockchain technology. Windows operating system and Office productivity suite have always been top performers on any software piracy platforms. So, it’s no wonder that Microsoft, the developer of both products, works hard to establish anti-piracy measures. In a new paper released by Microsoft’s research department, with the participation of researchers from Alibaba and Carnegie Mellon University, the Redmond-based software giant studied a blockchain-based incentive system to bolster anti-piracy....
When it comes to software piracy platforms, the top performers remain for the office productivity suite and Windows operating system. So it’s not a surprise that the developer of the two products, Microsoft, takes its moves in creating Ethereum backed anti-piracy measures. Microsoft’s research department released a recent document involving contributions of other researchers from Alibaba and Carnegie Mellon University. The document revealed that the software giant engaged in a blockchain-based reward system to fortify its anti-piracy campaigns. Related Reading | Total....
Pirates beware! Stellenbosch-based anti-piracy startup, Custos Media Technologies, has made a deal with the Technology Innovation Agency (TIA) of South Africa to help it grow and bring their services to a wider market. Under the agreement, TIA will provide a funding injection of 5.9 million rand, or approximately $407,000 USD, into the startup over the....
The connection between content piracy and bitcoin is no different than the connection shared by fiat currency with copyright infringements. Piracy has become a global issue, effecting artists, movie makers, game publishers and others who are into the media and multimedia business. Content piracy amounts to copyright infringement which is a crime. According to the Recording Industry Association of America, music privacy results in over $12.5 billion in economic losses, whereas video piracy amounts to $18.5 billion in a year. It is not just the Hollywood studios and record labels that are....