Author Archives: Vijayashankar Na

About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance

E Sports settles dispute on illegal Bitcoin installation

Posted on November 27, 2013 by Vijayashankar Na

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 →

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Bitcoin ATM registers $1 million transaction in a month

Posted on November 27, 2013 by Vijayashankar Na

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 →

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Litecoin as another virtual currency?

Posted on November 27, 2013 by Vijayashankar Na

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 →

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Bitcoin Payment Processor in Denmark Hacked

Posted on November 27, 2013 by Vijayashankar Na

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 →

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Negligence of Export Promotion Councils, ECGC and Banks lead to Rs 2.35 crore fraud

Posted on November 27, 2013 by Vijayashankar Na

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 →

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Bitcoin in Physical Form?

Posted on November 26, 2013 by Vijayashankar Na

Bitcoin started as a Peer to peer virtual currency system. With Baidu (Google in China) starting to accept payments in Bitcoin, there is now an official patronage for the system from the Chinese Government. In a further bid to  provide … Continue reading →

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