Spate of Bitcoin Extortion Bomb Threats Hit Government, Schools in Japan

Before mainstream media decides to take this opportunity and blast Bitcoin's reputation to smithereens once again, it is important to note any form of payment should not be held responsible for how people decide to use it. Sydney schools are facing a completely new kind of threat, as various pranksters have taken it upon themselves to report bomb hoaxes via phone. Terrorism is a serious issue that is on everybody’s mind right now, and law enforcement has to take every single one of these reports very seriously. Similar incidents have been reported in other countries as well, and all of....

An Israeli teenager, alleged to have made over 100 bomb threats against Jewish Community Centers and day schools in the United States is now accused of making millions in bitcoin through cybercrime on the dark web. A Jewish teenager with both American and Israeli citizenship was apprehended last month by Israeli authorities in Marc in Ashkelon, a coastal city in the south of Israel. Some reports identify him as Michael Kaydar, a 19-year-old who is accused of making over 100 hoax bomb threat calls to Jewish Community Centers and Jewish day schools across 33 states since January. He is also....

Ukrainian mall receives bomb threat from an unknown person, demands $200 BTC ransom to stop sending further threats. Cybercriminals are giving Bitcoin a bad name. Starting with hacking attempts, criminals have been trying to extort money from unsuspecting individuals and businesses by infecting their computers with ransomware or blackmailing them with ill-gotten confidential information. The ransom demand, in Bitcoin payments, is a common thread that unites all these threats. Deviating from standard operating procedures followed by hackers, an unknown individual or a group of individuals....

Cybercriminals have reportedly targeted a number of schools in Taiwan, threatening to destroy their computer systems and data if a bitcoin ransom isn’t paid. According to a report in Focus Taiwan, a national news agency, malicious hackers have compromised computer networks from 9 schools in Hualien, Taiwan’s largest county situated on the eastern coast of the country. The cybercriminals are demanding a payment of eight bitcoins (approx. $9,600), the Hualien County government revealed. Taking control of a number of schools’ printers, hackers have left a number of undisclosed threats with....

The government will use the “surplus” from its Bitcoin Trust account that currently contains 1,120 BTC. The government of El Salvador is embarking on its next Bitcoin-related project which involves building schools using profits the nation has made on the asset.Profits or the “surplus” from the state’s Bitcoin Trust account will be channeled into the construction of 20 schools according to President Nayib Bukele. On Nov. 2, the Press Secretary of the Presidency tweeted:“When this project was started, we had not made as much money in FIDEBITCOIN [state BTC Trust account] as we have made....