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UK police to auction bitcoin and other cryptocurrencies worth over $600K

Cryptocurrencies seized by a UK police force from a criminal are to be auctioned by an Ireland-based auction house. Wilsons Auctions announced last week that the Eastern Region Special Operations Unit has appointed them to manage the auction worth £500,000 (~$621,000) of cryptocurrencies, including bitcoin (BTC), ether (ETH) and XRP, among others. It is a no-reserve auction, meaning there is no established minimum price for the assets being auctioned. The Unit seized cryptocurrencies from a criminal who "illegally supplied online personal data and hacking services in exchange for thousands of pounds worth of cryptocurrency,” per the announcement. The international auction will start at 12 noon (GMT) on Sept. 25, with the cryptocurrencies divided into lots. Bitcoins will be sold in 0.25 to 2 BTC lots, while the other cryptocurrencies will be offered in larger lots. “A further 15 Lots of bitcoin will be included in the Unreserved Government Auction which will take place at 6 pm GMT on Thursday 26th September and will be available to both online and physical bidders,” Wilsons Auctions said. This is not the first time the house is managing auction of cryptocurrencies. Earlier this year, it held an auction worth $430,000, involving cryptocurrencies seized by Belgian law authorities. Previously, Wilsons Auctions held an auction of 167.7 monero (XMR) tokens, which had been seized by a U.K. law enforcement agency.
The Block Crypto

One Quarter Of UK Businesses Suffered From Cryptojacking, Security Firm Says

Up to a quarter of the UK’s small businesses may have been affected by crypto-jacking attacks, according to the British cyber security platform CybSafe. The figures were based on a survey of common cybersecurity threats for UK SMEs (Small-Medium Enterprises). The findings showed that 25% of the 250 respondents had suffered from cryptojacking in the past twelve months. Cryptojacking is a relatively new way of exploiting infected computers, where malware forces the PC to mine cryptocurrencies.  This results in high processor usage, which significantly slows down normal activities and could lead to overheating on less efficient systems. A popular infection method is to send phishing emails with malicious links or attachments, which then install the mining software. A simpler but less permanent method is web browser mining, which the company categorized together with OS-based miners. It is unclear whether the stated figure differentiates between voluntary or hidden browser mining. The research did not dive deeper into the specifics of which coin was mined, but it’s unlikely to be Bitcoin. Even if they gained access to computers with high-performance GPUs, it would still take more than 50,000 of them to match the performance of a single top-of-the-line ASIC. Monero has long been the coin of choice for web miners due to its CPU-friendliness, offering returns at least comparable in magnitude to GPUs which would make scaling on consumer hardware worthwhile. CybSafe CEO, Oz Alashe, warns that cryptojacking is not taken seriously enough. “Although there are signs now that the cryptojacking threat has somewhat declined over the last few months, businesses shouldn’t be fooled,” he cautioned. “Coinhive may have been shut down, but organisations shouldn’t assume that the threat has therefore vanished. As long as there is cryptocurrency for the taking, criminals will be looking to steal it.” CybSafe’s research also found cybersecurity measures were lacking in general, with only half of the companies conducting employee training, and as much as one quarter not using anti-virus software.    The post One Quarter Of UK Businesses Suffered From Cryptojacking, Security Firm Says appeared first on Crypto Briefing.
CryptoBriefing

Thieves Rob UK Children's Hospital & Steal Xbox One

Local news reports that thieves stole an Xbox One console from the Children's Assessment and Treatment Unit ward at Leeds Children's Hospital in the UK earlier today. Jerks Steal Game Console from Children Facing Life-Threatening Injuries In an act of brazen theft, the perpetrators divested the ward of a crucial piece of entertainment that helps […] The post Thieves Rob UK Children's Hospital & Steal Xbox One appeared first on CCN.com
CCN

Contactless Gets a Makeover in the UK

By Lina Andolf-Orup, Senior Director at Fingerprints The deadline hanging over Europe is finally here. No, not Brexit, but PSD2’s September 14 mandate for the implementation of SCA (or, to those unfamiliar, Strong Customer Authentication). The European law and its implementation by banks has stirred a lot of discussion across the continent – especially in the UK. Already leaders in the open banking game, its unsurprising that the British banking world has raced ahead in implementing – and commenting on – enhancements to their authentication methods. Wait, what is SCA? SCA outlines that strong authentication (a secure way to validate it’s you making the payment) needs at least two of the following: something you know (eg. your PIN), something you have (eg. your card), something you are (eg. Biometric ID). As contactless card payments only have one of these elements, the new rules now mean banks are required to request a PIN is entered after every five contactless payments, or once your payments have totalled £135. With the UK’s successful mobile-only challenger banks already utilising biometrics to authenticate in-app, adding biometrics to payment cards brings authentication harmony  Contactless Challengers Challenger banks in the UK, such as Revolut and Starling, have been especially proactive in their communications on SCA. The message of making contactless more secure is an especially pertinent one in the UK. While a nation of contactless lovers, fear of fraud remains high. Undoubtedly, SCA mandates will improve security if your card “fell into the wrong hands”. But SCA will also increase friction in some cases. For example, with increased PIN entry requests – contactless may be more secure, but it’s also less convenient… Revolut has already implemented a method to help combat this, sending mobile push notifications just before you’ll need to authenticate again and enabling consumers to reset their payment limit with fingerprint or face ID in-app. But that’s not the only way biometrics can help. Bridging the gap Biometric payment cards offer the perfect answer to SCA requirements. By adding strong authentication to the ‘tap’, consumers can benefit from greater security without harming the user experience of contactless. Or slowing throughput time for merchants! With the UK’s successful mobile-only challenger banks already utilising biometrics to authenticate in-app, adding biometrics to payment cards brings authentication harmony across form factors. And in recent weeks, the biometric payment card has garnered even more traction in the UK market. The message of making contactless more secure is an especially pertinent one in the UK. Use case: BBC explores “the biggest change to payment cards for a decade” Just a few weeks ago, the BBC (or the British Broadcasting Corporation for those not familiar) got its hands on major UK bank NatWest’s biometric payment card, currently being trialled. Journalist Dan Simmons spoke with our partners NatWest, RBS and Gemalto, to learn more about the details. The segment went some way to dispel some common myths, explore the benefits and explain in simple terms how it all actually works. “It’s not CSI!” Georgina Bulkeley, Director of Strategy and Innovation at RBS and NatWest, went about “shattering television dreams” when probed about the spoof-ability of the new payment cards. An imprint, a stolen thumbprint from a glass, a high-res photograph…able to fool a biometric card?  Not quite. Smart algorithms capture a mathematical representation of your fingerprint – not an image – so high-resolution photographs can’t trick modern sensors. Advanced security features have also reserved cracking biometric systems with sellotape or gummy bear imprints to the realm of sci-fi fiction. Gemalto’s MD Howard Berg also added that the smart new sensors ‘learn’ when your fingerprint has a slight variation such as a micro-scratch, to minimize false rejection rates. An imprint, a stolen thumbprint from a glass, a high-res photograph…able to fool a biometric card?  Not quite. Take it easy “Consumers want experiences to be simple and easy,” Georgina added. Saying goodbye to the PIN and fear of contactless card fraud at the same time. Biometric payment cards really make sense.   Another crucial factor, and something demanded by banks and consumers, is the opportunity to remove the payment cap. NatWest and RBS cited lifting the £30 spending limit as a primary motivation for trialing the technology, which aligns with the opinions of a number of banks we spoke to in our research.   Journalist Dan happily took the card for a spin, now able to spend up to £100 a tap, with this likely to be “limitless” by the time it gets to market.  Ready to rock and enroll! Viewers also saw Dan enroll his fingerprint onto the card with a simple self-enrollment device at home. Over 79% of banks think home enrollment essential to success but crucially, the process just needs to be a frictionless user-experience that gets consumers onboard from the get-go. So, as PSD2 and SCA hit the headlines in the UK and other European markets, its clear banks have worked hard to bring additional security to contactless. But with banks like NatWest and RBS, it’s promising to see some are already taking this a step further: limiting the disruption of increased security with biometric trust. The post Contactless Gets a Makeover in the UK appeared first on The Fintech Times.
The Fintech Times

Bring On The Robots, But Bring Us With You, Says UK Workforce

Research from global analytics and advice firm, Gallup suggests that people feel unprepared for the introduction of new technologies, despite being optimistic about their job prospects. The Gallup Real Future of Work report of 4,000 employees has found that people around the world are generally upbeat about the impact of technology on their careers, despite some analysts predicting that AI-enabled machines would take over 50% of human jobs within the decade. According to the Wellcome Global Monitor, for which Gallup gathered data in 140-plus countries in 2018, over half (58%) of global citizens feel that science and technology will increase rather than decrease (21%) the number of jobs in their local economy. When asked how likely they felt that their job would be eliminated within the next five years as a result of new technology, 80% of UK workers said that they felt it was either not at all likely or not too likely. Data from Europe and the U.S. was consistent with this sentiment. 67% of UK employees feel that demand for their work will increase in the next three years due to technological changes. 80% of UK workers don’t expect job to be eliminated by technology However, while a third of respondents strongly agree employers were ready to implement new technologies, over half (51%) in the UK feel that their employers don’t help them broaden their skill set to make use of new digital technologies. According to the research, the feeling of being unprepared is driven by a lack of training. About one-third (36%) of UK employees, who strongly agree that they need training to build on their skills or learn new ones, say they did not participate in training in 2018. 60% of British employees feel they need to develop their current skills and 57% need to develop new skills. “How to navigate the changing workforce needs at a time of rapid digital disruption across many industries is a challenge facing employers everywhere,” said Ghassan Khoury, Gallup EMEA Managing Partner. ‘’In an era of technological change, most employees are optimistic about the effects those changes will have on their work lives. This research shows that there is a keen workforce looking to upskill and improve, however, many are not given the opportunity to build on their current skills or to learn new skills due to a lack of training and development by employers.” 36% of British employees surveyed did not take part in training in 2018 The research suggests the issue is one of ownership and clarity. Among employees in Europe who took part in educational opportunities in 2018, 65% say their organisation initiated it while 35% say they themselves did. Additionally, 11% of employees who didn’t participate in training say their organisation hasn’t provided clear guidance about future needs. A similar proportion say the training their organisation offers isn’t relevant to them. “Trying to fill these education gaps and cultivate the best outcomes for companies and employees requires clarity about who should initiate and pay for training opportunities. This will require HR leaders to be increasingly focused on identifying training and learning opportunities that address organisational needs in a cost-effective way and help employees feel prepared for future changes. Leaders also must focus on creating the right kind of culture to enable employees to adapt to change and embrace new technologies. Creating and sustaining a culture of agility and investing in training and development are key areas companies need to focus on, it’s a win-win for all,” said Khoury. The post Bring On The Robots, But Bring Us With You, Says UK Workforce appeared first on The Fintech Times.
The Fintech Times
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Russia to associate crypto with money laundering, an oil-backed Russian coin initiative, USA to further handle blockchain, the skeptical as for innovations Ohio, South Africa reporting growth in banking sector, blockchain for deals in Spain, Seoul to back blockchain startups, +1 exchange bankrupt in South Korea, Turkish operator to use blockchain for data maintenance, Australian AUSTRAC to test blockchain for financial reports

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Donald Trump appoints a pro-Bitcoin Chief of Staff, Facebook hires 40 ex-PayPal members and develops a stablecoin for WhatsApp, cryptojacking cases have risen 40%, Ethereum reaches 50M unique addresses, Vitalik Buterin gives $300K to three startups, the UK releases a new tax rule, OKEx launches Perpetual Swap, Coinbase migrates $5B to cold storage

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Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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Bakkt Launches Futures Contracts, Bitcoin Price Falls

Bakkt, a subsidiary of New York Stock Exchange owner Intercontinental Exchange Inc (NYSE: ICE), launched its long-awaited physically backed Bitcoin futures Monday.  The first Bakkt/ICE futures contract changed hands at $10,115 and the number of contracts in the first hour stood at just five total, CoinDesk reported. It's widely belived in the ...Full story available on Benzinga.com
Benzinga

Late Bloomer: Why Bakkt’s Slow Start Is No Surprise

Bakkt has finally opened its platform for physically-delivered Bitcoin futures, but the response has been underwhelming. Nearly a year after the owners of the New York Stock Exchange announced their foray into cryptocurrency, markets responded to the new institutional trading venue with another 1.8% price drop. First announced last August, the long-delayed launch “was an important step toward bringing trusted infrastructure to digital assets,” wrote CEO Kelly Loeffler. The physically-settled futures platform is expected to provide a crucial infrastructure for institutional trading in cryptocurrencies. But some pundits have expressed disappointment at today’s volumes. Four hours before the market closes, only $550,000 worth of BTC futures have exchanged hands. One well-known cryptocurrency analyst described volumes as “not great,” while CoinDesk said trading on Bakkt was off to a “slow start.”   Source: Bakkt   At face value, these low volumes might suggest that institutional investors aren’t very interested in cryptocurrencies. Based on today’s activity, Bakkt volumes are unlikely to rival the futures product from CME Group, which traded $470M in its first week. But there’s an important distinction. CME’s futures are all cash-settled, meaning that all the trading is done in fiat currencies. The underlying asset may be Bitcoin, but at no point does either side have to actually hold it. From a legal perspective, that makes CME futures much simpler for institutional investors, making them no different from a similar future in wheat, maize or gold. In contrast, Bakkt’s futures are all physically delivered, meaning that the underlying assets have to be transferred on a specified date. Institutional investors have to take custody of actual bitcoins, with a lot more hoops to jump. In order to regularly trade in Bakkt bitcoin futures, institutional investors will have to consult specialized legal counsel, acquire new insurance policies, and possibly update their investors, as well as find a custodian to for the digital asset. “[S]ome of [Bakkt’s] largest prospective clients still don’t have permission to trade physically-delivered futures contracts,” wrote analysts at BeQuant Exchange in a note. “As such, [the] build it and they will come mantra may not necessarily result in an influx of new, hot money, at least not right away.” It’s hard to know what the big institutional investors were thinking when Bakkt opened up shop for the first time. But, given the fact that the platform is dealing with a volatile asset class, which has a nebulous regulatory status, it’s no surprise that many high rollers are playing wait-and-see. If there’s one lesson to be learned from Bakkt’s trading today, it’s that the cryptocurrency space still has a tendency towards overblown expectations.  Institutional investors were never going to dive headfirst into an unfamiliar asset. A cautious start to Bakkt’s futures today is a good sign, indicating that the majority of investors are still playing it safe.   The post Late Bloomer: Why Bakkt’s Slow Start Is No Surprise appeared first on Crypto Briefing.
CryptoBriefing

Bakkt’s Bitcoin Futures Goes Live: Should You be Excited?

Over the past few years, the Bitcoin futures ecosystem has grown at a remarkable pace, and it is something that is surely going to stay for years to come. Initially, these futures contracts had been launched by a handful of exchanges, but over the past year or so, the number has increased considerably. Futures Trade In a development that will come as another massive boost to the Bitcoin and cryptocurrency ecosystem, the New York Stock Exchange’s owners, ICE, through its crypto exchange Bakkt has decided to launch futures contracts that will pay out traders in Bitcoins. ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

Tezos [XTZ] Jumps Over 4% Amids Binance Listing; CZ Hints Tezos Staking

Binance recently announced the listing of Tezos with pairs of Bitcoin(BTC), Tether(USDT) and Binance Coin(BNB).  Will Binance Enable Tezos Staking? As Per a recent tweet by Binance, it has listed Tezos and it can be paired with USDT, BTC, and BNB. Following the announcement, users can start depositing Tezos on their accounts, while the launch of trading is scheduled for the 24th of September. Source- Twitter CZ then further created hype by asking the community that did they not what was coming next. A user suggested that does the move imply Tezos staking. While CZ didn’t give a definite answer, he expressed his excitement with a “happy” emoji.  Source- Twitter The Tezos official website defines Tezos as,  “ Tezos is a self-amending blockchain that can evolve by upgrading itself, with stakeholders being able to vote on amendments to the protocol, including amendments to the voting procedure itself.” Binance. US Opens Doors for Cardano, Ethereum Classic and Stellar  Today, Binance.US opened deposits for Cardano (ADA), Basic Attention Token (BAT), Ethereum Classic (ETC), Stellar (XLM) and 0x (ZRX). Trading for these coins will begin on September 25, 2019, at 9:00 AM EST /6:00 AM PST. The announcement further mentions that the coins are temporarily only available for deposits and withdrawals will not be enabled until trading is live. Source- Twitter Also, Binance.US will commence trading on September 24, 2019 at 9:00am EST / 6:00am PST. The launch will see Binance.US list Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and Tether (USDT). These coins will be available for trading across 13 fiat-to-crypto and crypto-to-crypto trading pairs.  Source- Twitter Binance Announces 6th Phase of Lending Products In yet another update, Binance announced its 6th phase of lending products. The launch will take place on the 25th of September. In the sixth phase of Binance’s lending initiative, users will be able to lend Binance Coin(BNB), Bitcoin(BTC), EOS, Ethereum Classic(ETC), Ethereum(ETH), ChainLink(LINK), Tether(USDT) and Ripple(XRP) to earn interests payable from Sep. 25 to Oct. 09.  Traders are in for huge benefit as Binance. US enables trading. Will Binance continue to keep the crypto community happy with its developments? Let us know, what you think? The post Tezos [XTZ] Jumps Over 4% Amids Binance Listing; CZ Hints Tezos Staking appeared first on Coingape.
CoinGape

Nicholas Merten: Now Is the Time for Ravencoin, BAT and Chainlink

YouTube star Nicholas Merten is a fan of crypto, but like everyone else, he’s noticed the gradual downplay of bitcoin as of late. Once again, bitcoin has dropped below the $10,000 mark and is trading for just over $9,800. While this isn’t a major fall, the currency seems to have wavered between this mark and $10,200 over the past month. Merten: Altcoins Are Making a Comeback Merten isn’t concerned by this. In fact, he’s looking to use the situation to his advantage, and advises others to do the same. As the host of YouTube’s “Data Dash,” arguably one of the most popular cryptocurrency channels on the streaming and video site, Merten claims that there are three specific cryptocurrencies that are likely to shoot up now that bitcoin is wavering if people are looking to invest. Those cryptocurrencies are Basic Attention Token (BAT), Raven Coin (RVN), and Chain Link (LINK). In a recent interview, he states that these three tokens are likely to grow heavily over the next 12 months, explaining:  At the current moment, looking at [bitcoin] market dominance, it does look like we’re starting to enter into a trend shift where altcoins can start to gain as we retest back towards bitcoin’s high of $20,000. The last two [altcoin cycles] that we had were at the end of the overall bitcoin cycle where bitcoin reached $20,000. The first one happened at the beginning of 2017 when bitcoin retested its high at $1,100. For the most part, altcoins have had a relatively rough year in 2019. Bitcoin on the other hand, has experienced steady growth since April, doubling its price since then from $5,000 to about $10,000. While many have focused on bitcoin as of late, Merten says he’s starting to see funds travel into smaller, competing coins. He says:  As bitcoin does increase over time, as we tend to see a general growth in bitcoin’s price, we tend to see more risk taking in different types of digital assets. As more liquidity has entered bitcoin, you have the ability now, through exchanges, for that liquidity to exit into other alternative investments. Sometimes, that can be rampant speculation, and in other cases, it can be driven through fundamentals. I believe this time around, in this cycle, we’re going to see more going toward fundamental developed projects that actually have real demand.  Why These Three and Not Others? Chain Link is big in that it’s joined software company Oracle to help blockchains connect with outside networks. Raven Coin is significant because it allows developers to establish their own tokens, while BAT is moving forward in that it is attached to the Brave browser, which seeks to block advertisements and trackers from following one’s searches and online activity. Merten is confident BAT will be very important in the field of privacy. The post Nicholas Merten: Now Is the Time for Ravencoin, BAT and Chainlink appeared first on Live Bitcoin News.
Live Bitcoin News
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