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Daily Archives: November 27, 2013
More Cryptocoins come up for attention
Close on the publicity generated by Bitcoin exchange rate going upto US$1132, many more crypto coins are coming to the attention of the public. First it was Litecoin and now Novacoin, Namecoin, Quark coin,Chinacoin, Feathercoin also seem to be gaining … Continue reading
Posted in bitcoin, Cyber Law
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E Sports settles dispute on illegal Bitcoin installation
In an interesting case of misuse of Bitcoin, a video gaming community “E Sports Entertainment Association” agreed to settle a dispute where it had been accused of having illegally installed Bitcoin minining software in their client’s machines and earned US$3713.55. … Continue reading
Posted in bitcoin, Cyber Law
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Bitcoin ATM registers $1 million transaction in a month
World’s first Bitcoin ATM in operation in Vancouver is said to have clocked transactions of US$ 1 million in a month. The ATM converts cash into Bitcoins and also pays out cash in physical currency against withdrawals of Bitcoins. The … Continue reading
Posted in bitcoin, Cyber Law
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Litecoin as another virtual currency?
The success of Bitcoin concept has attracted “Litecoin” a similar virtual currency system promising some technical improvements. The target for litecoin is 84 million currency units as against 21 million targetted by Bitcoin. The presence of two virtual currencies in … Continue reading
Posted in bitcoin, Cyber Law
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Bitcoin Payment Processor in Denmark Hacked
A Denmark based Bitcoin payment processor BIPS faced a security breach last week resulting in loss of 1295 bitcoins worth around US $ 1 million. The loss has occurred both to the service provider’s own stock as well as a … Continue reading
Posted in Cyber Law
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Negligence of Export Promotion Councils, ECGC and Banks lead to Rs 2.35 crore fraud
In what has now become a routine type of fraud, a tobacco exporter in Andhra has been defrauded to the extent of Rs 2.35 crtores. Naavi.org recalls its open letter to RBI and ECGC in its post on July 14, 2013 … Continue reading
Posted in Cyber Crime, RBI
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