LocalBitcoins.com has been hacked?

Users of the service LocalBitcoins.com, which deals the exchange of Bitcoin, yesterday began to complain on the loss of funds from their accounts. On Reddit, user don4of4 posted a warning to fellow LocalBitcoins.com users that sellers and buyers have been reporting news of stolen funds from their wallets on the website. The user said that his five Bitcoin were transferred from his account without his knowledge. At least one of the users who reported losses was said to have two-factor authentication enabled.

After some time, representatives of LocalBitcoins.com issued a response. They’ve written that they’ve found «One systematic and recent attack against LocalBitcoins users, and right now it seems that the amount of users attacked have been under 30, and amount of Bitcoin reported has been less than that». Continue reading…

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Mt.Gox sent a request for liquidation

Defunct Bitcoin exchange Mt. Gox has given up its plan to rebuild under bankruptcy protection and has asked a Tokyo court to allow it to be liquidated. This tells the Wall Street Journal. As the reason given the complexity of the procedure – including the difficulty of holding meetings with creditors spread around the world – as well as the lack of realistic rehabilitation plans for the Tokyo-based exchange. Mt. Gox filed for bankruptcy protection from creditors in Japan in late February, saying it may have lost some 850,000 Bitcoins – worth around $454 million at today’s rates – due to hacking into its computer system.

Document, posted on Mt. Gox’s website, said:

«During the following 1 month and a half, an investigation has proceeded with regard to the past factual elements related to the disappearance of bitcoins and missing funds which were the cause of said application, but it is expected that said investigation will still require some time and at this time, there are no prospects for the restart of the business. Further, MtGox Co., Ltd. is continuing the negotiations with sponsor candidates but the concrete selection process has not yet started».

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BTC China presented a mobile replacement of Bitcoin-ATMs

BTC China, the largest exchange of China, has developed an application Picasso ATM. It allows anyone with a smartphone to become a «walking Bitcoin ATM». Sellers can use the app to upload and sell Bitcoins nearly anywhere in the world. This tells the portal CoinDesk.

Bobby Lee, CEO of BTC China, announced the release of Picasso ATM at the press conference, which was devoted to the launch of China’s first physical Bitcoin ATM, at the IC Coffee Shop in Shanghai’s Pudong Zhangjiang Hi-tech Park. Lee proclaimed the Picasso ATM interface as «truly innovative» and «essentially a world first», saying it lowered the barrier to entry for anyone thinking of investing in physical Bitcoin ATM hardware.

«Now store owners, coffee shop owners, or even convenience store owners, instead of investing in a Bitcoin ATM, they can just sell Bitcoins at the cash register with the Picasso ATM. Continue reading…

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The new difficulty Bitcoin in China

Chinese businesses began receiving official deposit shutdown notices from banks. This tells the portal CoinDesk. Exchanges will stop account recharging via bank accounts between now and 15th April. Small exchanges were notified first. This may be done to prevent the strong depreciation of the digital currency. Nevertheless, Bitcoin prices sank under $403 from a high of $450.74 on the CoinDesk Bitcoin Price Index after companies began making public announcements on their sites. BTCTrade’s statement:

«With a heavy heart we make this announcement, that BTCTrade just received a telephone call from our bank the Kejicheng (Tech City) branch of China Agricultural Bank Hangzhou, that if we do not stop using our bank account to conduct Bitcoin related businesses by 4/15 our account will be frozen. Therefore, we are forced to stop all RMB deposits by 4/15 midnight, although withdrawals will not be affected at [present]». Continue reading…

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eBay adds a section «Virtual Currency»

The largest Internet auction eBay has added to its catalog a new section called «Virtual currency». The move was expected considering the rumors that circulated earlier and positive assessment of the digital currency by David Marcus, President of PayPal. Although eBay is still not accepting Bitcoin as an official payment, the new category allow its users to sell and exchange Bitcoin, Dogecoin, and other cryptocurrencies. Также появился новый раздел Mining Contacts. Also was appeared a new section Mining Contacts. It allows you to buy stake in mining of digital currency.

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Dogecoin on NASCAR racing

Community Dogecoin on Reddit gathered 67.5 million DOGE for participate in the championship NASCAR Sprint Cup Series. Digital currency will be sponsor of NASCAR driver Josh Wise. Josh didn’t have a sponsor, and he agreed to decorate the body of his car the Dogecoin’s logo. It takes $55,000 to sponsor a car. The Doge4Nascar campaign made the disclaimer that if they couldn’t raise the money needed for NASCAR, then the donations would go to another charity. However, that won’t be necessary. The required funds were collected in just 8 days.

Alex Green, the founder of a cryptographic payment platform Moolah. Green had intended to give 2 million Dogecoin to support the reddit community’s. By chance he typed an extra zero, raising the amount to 20 million Dogecoin. That’s almost $15,000. Continue reading…

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Hip hop group distributes album for Bitcoin

Frostwire, popular client of BitTorrent, which has integrated an experimental mechanism that will allow users to donate Bitcoins to torrent sharers, got a chance to test their innovation. Helped them in it the Canadian hip hop group Aint No Love. The musicians have agreed to distribute their album Tears of Joy in such a way. The group offered its first, self-titled album as a free torrent download through FrostWire, and were already planning on doing the same with Tears Of Joy when FrostWire approached them about Bitcoin. Group manager Mark Cwajna says:

«FrostWire came back to us and approached us about a new feature they were offering, to integrate bitcoin donations for the torrents that are downloaded through the program. They asked if we would be the guinea pig for them and offer Tears Of Joy as a free download with Bitcoin donations enabled». Continue reading…

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The launch of Auroracoin has begun

On 25 March Took place the launch of new digital currency Auroracoin (AUR), established in Iceland. Last Saturday, as planned, began distribution coins for all 330000 citizens of Iceland. That’s about 31.8 Auroracoins per person. Icelanders can redeem the coins by logging into Facebook through a gateway and providing their Icelandic ID number, or by sending an SMS which can be matched with their national ID. On the first day were distributed to 198.336, 6 coins. Sometime after the start of distribution official website Auroracoin was unavailable, perhaps due to the influx of visitors.

Auroracoin was launched by a pseudonymous person using the name Baldur Friggjar Odinsson. The goal is to decentralize power and revive Iceland’s local economy, given that the kroner has fallen dramatically in value in recent years. Iceland was hard hit by the 2008 global financial crisis and is still recovering. Continue reading…

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Climb to Everest for Bitcoin

Trek and expedition organiser Mt Everest Adventures has now started accepting Bitcoin. The company, which is run from Australia, offers a variety of excursions and treks in Nepal, from sightseeing trips around Kathmandu to forested Himalayan foothills. But the highlight of the Mt Everest expeditions Adventures is the ascent of Everest, of course.

For companies such as Mt Everest Adventures, which rely on foreign customers for their survival, accepting payments from outside the country is both complex and expensive. Nepali currency, the rupee, is tightly controlled. It is not surprising that in such a situation Mt Everest Adventures decided to draw the attention of the Bitcoin. After some investigation, company decided to team up with Australia-based exchange and payment solution provider CoinJar. It allows Mt Everest Adventures to place a Bitcoin payments widget on the website and charges only a 1% fee to its merchants.

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Vircurex froze withdrawals

Chinese exchanger of digital currency Vircurex announced the temporary suspension of all operations. Freeze touched on all transactions using Bitcoin, Litecoin, Feathercoin and Terracoin. The reason is that exchanger no longer has the reserves to cover customer requests.

The situation is reminiscent of what happened with Mt.Gox. Early in January last year became known about the problems of Vircurex. Exchanger was hacked twice last year. Attackers were able to access to the wallets of customers, and this has led to the theft of thousands of Bitcoin. Vircurex pledged to cover its users’ losses via its own income. Due to «large fund withdrawals in the last weeks», Vircurex claims it has taken the above actions to prevent the service from shutting down entirely. Continue reading…

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