Category Archives: Cryptocurrency

BitCoin, LiteCoin, etc.

DigiSade: CryptoCurrency Mining – Digital Currency Portfolio Building Made Simple – Video

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DigiSade: CryptoCurrency Mining - Digital Currency Portfolio Building Made Simple
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DigiSade: CryptoCurrency Mining - Digital Currency Portfolio Building Made Simple - Video

Cryptocurrency candidates: Bitcoin enters politics

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Read MoreThis city could become the world's bitcoin capital

David says CoinVox has been approached by about 20 candidates who are seeking bitcoin funding in the coming election cycle.

Jared Polis represents the second congressional district of Colorado and is running for re-election to the House of Representatives this year. The description on his donation page reads, "I am proud to be one of the first members of Congress to promote personal financial freedom by accepting a digital currency for contributions."

Polis said his campaign was "eagerly awaiting" the FEC's decision on bitcoin donations in May. He has raised approximately $2,000 in bitcoins from more than 60 donors.

Christina Gagnier, Democratic candidate for the 35th congressional district in California, said her use of bitcoins has caught the attention of individuals who may not have been interested in her campaign otherwise.

"So far, it's not a huge percentage (of donations)," she said. "But I have engaged donors I haven't engaged before."

Read MoreTime for digital currencies to grow up

Bitcoin is converted into cash immediately upon donation to avoid volatility in the coin's value. It is created by online users who solve complicated mathematical puzzles and stored in digital "wallets."

Because this is the first election cycle in which virtual currency has been used, experts say there is no official data on how much bitcoin has been brought in during this election cycle so far.

"The $100 cap is an issue, and I wonder if the FEC will revisit that," Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University, said. "I expect to see people maxing out that $100 donation."

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Cryptocurrency candidates: Bitcoin enters politics

Hacker swipes $83,000 from Bitcoin mining pools

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Bitcoin.org

It's no longer surprising when we hear that a cryptocurrency exchange has suffered a security breach, but now a hacker has targeted mining pools -- and managed to steal $83,000 in cryptocurrency as a result.

The Dell SecureWorks Counter Threat Unit (CTU) research team said Thursday it has identified an exploit that can be used to lift cryptocurrency from mining pools, and at least one hacker has already taken advantage of the security flaw.

A hijacker was able to use a fake Border Gateway Protocol (BGP) broadcast in order to compromise networks belonging to some of the biggest names in the field -- including Amazon, Digital Ocean, and OVH -- between February and May 2014. According to the researchers, at least 51 networks were compromised from 19 different ISPs, and at least one hijacker was able to use this flaw to redirect cryptocurrency miners' connections to a hijacker-controlled mining pool, therefore collecting the miner's profit for themselves.

Miners were able to continue searching for blocks, which results in the minting of new bitcoins, but spoofed servers ensured that miners never received their cut -- instead, the hijacker took off with all of the earnings.

In total, it is believed this single hijacker has been able to earn $83,000 in roughly four months.

Although Bitcoin was the main target of the heist, with 1 BTC currently worth $589, it was not the only cryptocurrency affected.

"The threat actor hijacked the mining pool, so many cryptocurrencies were impacted," the researchers said. "The protocols make it impossible to identify exactly which ones, but CTU researchers have mapped activity to certain addresses."

One miner spoken to by Dell SecureWorks said he estimates 8,000 dogecoin were hijacked and stolen in March, worth $1.39. The miner later added a firewall rule to reject connections from the hacker's mining server, which rejected the hijack and led to normal mining regularity. While $1.39 is a tiny amount, if widespread, such hacking can be lucrative.

The researchers were eventually able to trace the fake broadcasts to a single router at an ISP in Canada. While the hijacker has not been identified, CTU believes the scheme can be blamed on a rogue employee of the ISP, an ex-employee with an unchanged router password, or simply a black-hat hacker.

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Hacker swipes $83,000 from Bitcoin mining pools