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Bitcoin to ‘soar to $60k’ before ‘Russia and China engineer crash’, Saxo Bank predicts

The cryptocurrency will continue to rise “during most of 2018” peaking at an eye-watering £45,000 ($60,000) until Moscow and Beijing begin a crackdown on digital currencies, according to Saxo Bank. Cryptocurrency experts made the forecast as part of the company’s “outrageous predictions” for 2018, events the Danish bank says are “highly unlikely” but “with under-appreciated potential” to send shockwaves through financial markets. As of 3pm GMT on Saturday, December 16, bitcoin is valued at $18,504 according to CoinDesk.  Saxo Bank predicts it will soar to its peak as investors become…

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North Korea has stolen MILLIONS in cryptocurrencies, spy agency reveals

GETTY It comes after experts revealed Kim Jong-un could be making a fortune with Bitcoin It comes after experts revealed Kim Jong-un could be making a fortune with Bitcoin’s record-breaking surges using North Korean hackers to circumvent the sanctions placed on the despotic regime as the dictatorship continues its nuclear weapons programme. The £5.17million ($6.99million) includes operations that saw thefts from Yapizon, now called Yobit, and Coinis in April and September – both are exchanges of cryptocurrencies. The Chosun Ilbo, a South Korean newspaper, stated that the £5million in cryptocurrencies…

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North Korea cybercrime gang chases Bitcoin as price surges to £13,000

The surging price of cryptocurrencies in global markets is catching the eye not just of ordinary retail investors but a cybercrime gang with links to the North Korean government, according to cyber researchers tracing the group’s activities. The Lazarus cybercrime group is mounting an ongoing scheme to steal the online credentials of bitcoin industry insiders, a report published by researchers at US cyber security firm Secureworks’s Counter Threat Unit (CTU) said. Cybersecurity firms including Secureworks suspect North Korea to be behind the Lazarus group, which they link to a £60…

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Bitcoin SHOCK: Kim Jong-un ‘making a FORTUNE as North Korea hackers target record surge’

North Korean hackers have been targeting the successful digital currency in a bid to circumvent the sanctions placed on despotic regime as the dictatorship continues it nuclear weapons programme. Lee Dong-geun, a director with South Korea’s internet and security agency, said: “It is a fact that North Korea has been attacking virtual currency exchanges. “We don’t know how much North Korea has stolen so far, but we do know that the police have confirmed the regime’s hacking attempts.” According to police, North Korean hackers have targeted at least four different…

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Technology 

SEC chairman urges ‘extreme caution’ with cryptocurrencies – CNET

As investors go cuckoo for cryptocurrencies, the chairman of the US Securities and Exchange Commission is warning of the dangers associated with investing in virtual currencies such as Bitcoin, Ethereum and Litecoin. SEC Chairman Jay Clayton said Monday that cryptocurrency and initial coin offerings (ICOs) hold substantially less investor protection than traditional securities markets, creating an environment ripe for scams and market manipulation. He urged investors to weigh those risks before making an investment. “As with any other type of potential investment, if a promoter guarantees returns, if an opportunity…

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Bitcoin SHOCK: Russia backs cryptocurrency in bid to DODGE US sanctions

Major financial exchanges are set to launch bitcoin futures trading in mid-December, in a sign of the cryptocurrency’s shift to the mainstream. The move could prompt Russia to stop using the US dollar to trade crude oil, using cryptocurrency instead. US sanctions have hit Russia’s oil trade particularly hard, as oil is typically traded in dollars. However using decentralised cryptocurrencies such as bitcoin could decrease dependence on the dollar and allow countries such as Russia to prosper despite the sanctions. Stephen Brennock, an oil analyst at city broker PVM Oil,…

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North Korea trying to hack Bitcoin as cryptocurrency value SURGES to record highs

Ashley Shen, an independent security researcher, said: “We assume one of the reasons why Bitcoin is being attacked is because the price keeps increasing and we think it’s reasonable for hackers (to target). “Digital currency might be easier to gain than physical currency. So I think it’s reasonable.” The value of Bitcoin has dramatically increased since it was first created in 2009. During the last week alone, Bitcoin’s value has dramatically risen, peaking at a staggering £11,940 ($16,000) per coin. Ms Shen and her colleagues have tracked attacks by hacking…

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Technology 

Bitcoin exchange NiceHash loses millions to hackers – CNET

While many bitcoin investors are basking in record valuations, some are coming to grips with an astonishing loss. Cryptocurrency marketplace NiceHash said Wednesday that hackers stole the contents of its virtual wallet, making off with digital currency reportedly worth more $60 million. The breach was announced the same day Bitcoin rose 18.2 percent to cross the $13,000- and then $14,000-per-coin trading milestones for the first time. NiceHash, a marketplace for cloud-based mining of cryptocurrencies, made its announcement following an hours-long outage attributed to “maintenance” and reports from NiceHash users that…

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Bitcoin SMASHES yet another WORLD RECORD exactly one week after reaching $10,000

The cryptocurrency broke another record on Sunday and rocketed to $11,773 (£8,736). It capped a 30 per cent surge since last Thursday when the currency dropped out at $9,021 (£6,696) after plunging more than 20 per cent from last weekend’s high. At one point on Sunday, bitcoin leapt more than $500 (£371) in an hour before settling at $11,005 (£8,171) later that afternoon after a slight drop. Bitcoin cash, its offshoot, also surged on Sunday, peaking at $1,606 (£1,192) – which was just off its all-time high of $1,621 (£1,203)….

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Technology 

Coinbase loses bid to keep Bitcoin customer records from IRS – CNET

Bitcoin exchange Coinbase has lost a bid to keep the IRS from seeing customers’ trading records as part of a tax-avoidance probe. US Magistrate Judge Jacqueline Scott Corley for the US District Court in San Francisco ruled Wednesday that the exchange must supply the tax agency with the identities of all users in the US who conducted at least one bitcoin transaction equivalent to at least $20,000 between 2012 and 2015. Corley said a “reporting gap” gave the IRS legitimate reason to demand the information. “That only 800 to 900…

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