Bitcoin News in Review: Leaked Nudes, Trading Bots, iWallet, and More

Journalist:
Neil Sardesai @@neilsardesai
September 7, 2014

Welcome back to another Bitcoin News in Review, where we feature some of the top stories of the week here on CryptoCoins News. This week (31 August – 7 September), we saw several celebrities having their private photos stolen from iCloud and leaked onto the web, unusual trading activity on BTC-E, rumours of Apple making a serious push into the payments industry, and more.

Check out our video and keep scrolling for this Bitcoin News in Review.

[divider]CCN[/divider]

Celebgate

Earlier this week, many celebrities, including Jennifer Lawrence and Kate Upton, had their nude photos stolen from their iCloud accounts and leaked onto the web. An attacker took advantage of the fact that most people don’t use two-factor authentication and have weak security questions, and was able to access the celebrities’ accounts. He/she then sold the nude pictures for bitcoins to the leaker, who first posted the photos to 4chan. Both Apple and the FBI are thoroughly investigating, trying to track down the attacker. Apple has also promised to strengthen iCloud security, but maintains that the leaks were not a result of a vulnerability in iCloud.

Bitcoin Trader Bot Causes Unusual Activity on BTC-E

Looks like a malfunctioning Bitcoin trading bot has made BTC-E lots of free money in the form of commissions. Earlier this week, a trading bot on the exchange got caught in an endless loop, trading with itself or other bots on the site. While BTC-E’s trading volume is usually around 3000 every day, the bot caused the trading volume to go over 28,000. The owner of the bot is currently unknown, but he/she probably wasn’t too pleased when he/she discovered the bot’s unusual activity.

Will Apple Announce an “iWallet” This Tuesday?

As many of you may already know, Apple’s huge – “Wish we could say more” – iPhone 6 media event is this Tuesday, 9 September. While no one (besides Apple) truly knows what will be revealed this Tuesday, it’s fairly reasonable to expect new iPhones and iPads. However, there have been several rumours that Apple will make a big push into the mobile payments sector. Apple has already indicated an interest in mobile payments with Passbook, but new reports suggest that the next iPhone will (finally) feature an NFC chip, and that Apple has partnered with major credit card companies, including Visa, MasterCard, and American Express. If Apple really does announce an “iWallet” mobile payments network this Tuesday, it’s unlikely that it will integrate Bitcoin payments. So could the iWallet pose a threat to Bitcoin? Or will Bitcoin users simply continue using the many iOS Bitcoin wallets available, now that Apple has revised its stance on cryptocurrency apps?

Can Firefox Phones Bring Bitcoin to the Developing World?

At just $33, Mozilla’s Firefox Phones are perfect for users in developing countries. These phones have many of the features seen on modern smart phones, including a touch screen display, a camera, apps, and the ability to connect to the Internet. As such, Firefox Phones could easily run Bitcoin apps and bring Bitcoin to users in developing nations. Traditional payments processors like PayPal are blocked in countries like Kenya. Perhaps with Firefox Phones, countries like Kenya can use Bitcoin to be a part of the global economy.

That’s all we have for this week. Be sure to follow CryptoCoins News on Twitter and Facebook for the latest cryptocurrency news.

Images credited in their respective articles.

Last modified (UTC): September 7, 2014 23:31

Tags: btc-efirefox
Neil Sardesai @@neilsardesai

I enjoy keeping up with the latest stuff in science and technology and have been following Bitcoin for a few years now. I also occasionally post cool stuff on twitter.