TagChainalysis

$1 Billion Bitcoin Shopping Spree to Hit Dark Web in 2019: Research

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Bitcoin, dark web, darknet

Blockchain analysis firm Chainalysis has predicted that the use of Bitcoin on the dark web will reach over $1 billion in 2019, hitting a new record. Initially reported by Bloomberg, the blockchain surveillance startup has revealed that so far this year, around $515 million has been spent in illegal online marketplaces. This is in purchasing a variety of goods and services including child porn...

Everyone’s Hodling Bitcoin: Only 1.3% of Transactions are Payments in 2019

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Bitcoin

By CCN: Research by Chainalysis finds that only 1.3% of bitcoin transactions so far in 2019 came from merchants. The remaining 98.7% of volume is all on the exchanges. That means almost no one is using bitcoin to buy things. The bitcoin economy is still mostly about speculation, not a global payments system. The figures are based on data from New York-based blockchain researcher Chainalysis Inc...

Crypto Detective Firm Chainalysis is Now Snooping into 10 Cryptocurrencies

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Chainalysis , bitcoin

By CCN.com: Blockchain analysis and compliance firm Chainalysis wants to provide its users with the ability to perform investigations and keep tabs on ten popular digital assets, including Bitcoin, Ether and Binance Coin. In a post published on its official blog on April 24, the New York-based blockchain firm announced that it is expanding monitoring tools and the scope of its Chainalysis Reactor...

Bitcoin is Criminals’ ‘Favorite’, Claims Blockchain Forensic; Used in 95% of Crypto Crimes

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Bitcoin

Bitcoin is the reigning champion of cryptocurrency criminals. That’s the conclusion of blockchain analysis firm Chainalysis, which discovered that bitcoin is used in 95% of crypto crimes. This finding isn’t surprising since bitcoin is by far the most popular and widely used of the 2,000 digital currencies around today. Levin: ‘bitcoin is by far the favorite’ of criminals...

Why You Shouldn’t Worry about Crypto Whales Crashing the Bitcoin Price

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bitcoin whale

In a very informative webinar produced by Chainalysis today, the blockchain research firm made the surprising claim that crypto “whales” – individuals with more than $56 million in Bitcoin – pose no serious risk to the price of Bitcoin. What Constitutes a ‘Crypto Whale?’ In the presentation titled “Who are Today’s Bitcoin and Bitcoin Cash Whales?,” Chainalysis breaks down...

Crypto Snoop Chainalysis Raises $30 Million to Spy on Your Bitcoin Transactions

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Chainalysis , bitcoin

Chainalysis, the company that works to track crypto transactions, has completed their second fundraising round. Led by venture capital firm Accel, a total of $30 million was raised. Chainalysis Doubling Down in London One of the first moves they will make with the cash injection is to double their employees in London. Accel’s London-based Phillippe Botteri gains a board seat at Chainalysis...

Two Groups Have Dominated Cryptocurrency Hacks, Raking in $1 Billion: Chainalysis

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Cryptocurrency, Hack

Blockchain analysis firm Chainalysis has disclosed that just two groups benefited from the majority of cryptocurrency hacks that have occurred to date. Per The Wall Street Journal, the two hacking groups could have obtained as much as $1 billion in cryptocurrencies. Since bitcoin came into being, over $1.7 billion worth of cryptocurrencies are estimated to have been stolen. According to...

$1 Billion in Crypto Stolen by Just 2 Groups: How Do They Cash Out?

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crypto hacker cryptocurrency theft

A report from Chainalysis, a blockchain analytics firm based in the U.S. and Denmark, has revealed that just two groups have stolen more than $1 billion worth of crypto in the past several years. Based on the transactions and addresses traced by the firm, the hackers obtained around $90 million per hack on average, running a lucrative criminal operation spanning out many major crypto markets. How...

No, the Price of Bitcoin Didn’t Drop Because of Bomb Threats

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bitcoin bomb hoax

On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset endured a correction. Wrong Argument Against Bitcoin A common...

Bitcoin Payments Down 80% in 4th Quarter of 2018: Chainalysis Data

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accept bitcoin coinbase woocommerce bitpay

Citing Chainalysis data, Reuters is reporting that Bitcoin retail payments were down 80% in September, and no mention of a rebound was present. Several things are to blame, including scalability of Bitcoin transactions (and the expensive nature of them as a result) and the volatility of the currency itself. In order to have mass adoption and continued growth in the retail payments sector, more...

Bitcoin Whales are Stabilizing the Market, Not Crashing it: Research

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Bitcoin price

New data from Chainalysis has revealed that bitcoin whales are a surprisingly heterogeneous group of coin holders who might be doing more good than harm to the market. Investors have long been wary of a market situation where a few whales can exert overwhelming control over the asset price, fuelled in part by reports suggesting that whales deciding to sell large amounts of their BTC holdings have...

The U.S. Government Has Spent Millions Trying to Track Cryptocurrency Users

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cryptocurrency tracking

If you’ve ever wondered whether Uncle Sam is spying on your cryptocurrency transactions, a new report reveals that, if you reside or do business in the United States, the answer is probably yes. U.S. Govt. Goes All in on Tracking Cryptocurrency Usage Citing public records, research firm Diar reports that U.S. government agencies have collectively spent $5.7 million hiring contractors who...

6 Million Bitcoin is Lost or Stolen, Should the Real Value of BTC Higher?

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Bitstamp Bitcoin

At the Building on Bitcoin conference this week, Jameson Lopp, former lead engineer at BitGo and engineer at CasaHODL, revealed that an estimated 4 million BTC are lost and 2 million BTC are stolen. As of July 2018, a total of 6 million BTC are left inaccessible and permanently lost on the bitcoin blockchain. Given that it is not possible to hard fork the chain to recover the lost Bz, 28.5...

Bitcoin Price Decline Caused by Hodlers’ Unprecedented $30 Billion Sell-Off: Research

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bitcoin price

When the bitcoin price declined from nearly $20,000 in Dec. 2017 to below $6,000 during the first quarter of 2018, many observers blamed new investors whose shaky hands had never endured a true bear market. However, new research from blockchain analytics firm Chainalysis suggests that it was long-term investors, hands calloused from years of hodling though they may have been, who triggered the...

How a Cryptocurrency Investor Lost $60 Million in Bitcoin and Never Got it Back

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lost bitcoin

James Howells, a 32-year-old IT specialist who recently switched to a full-time cryptocurrency investor, told New York Post that he had lost more than $60 million in bitcoin in 2009 and was never able to retrieve it. 7,500 BTC In 2009, the debut year of BTC during which the price of BTC was below $1 and when the hash power of bitcoin was extremely low due to the lack of individuals mining the...

5 Blockchain Innovations That Will Affect Everyone You Know

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It’s no secret that at CCN, we are long-term believers in the power of the blockchain to reshape and better society in innumerable ways. Following the recent enthusiasm and inevitable profit-taking that resulted in what might look like a bubble popping, we thought it a good time to go over some of the ways blockchains will revolutionize society, no matter the current value the tokens which power...

The IRS Has Tracked Bitcoin Tax Evaders Since 2015

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IRS

There’s a common misconception among both legislators and the general public that bitcoin is an untraceable asset used exclusively by drug dealers, terrorists, and other maleficent groups. The truth is, with time, the right software, and the strong arm of the law, it’s often possible to put a name to a seemingly-anonymous bitcoin address. IRS Tracking Bitcoin Tax Evaders Since 2015, the U.S...

FinTech Startup Says Law Enforcement Is Ramping Up Ransomware Arrests

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Ransomware

Chainalysis has stated that ransomware arrests will soon take place targeting cyber criminals behind ransomware attacks. Rise of Ransomware Attacks Over the past six months, ransomware attacks have become an issue to government, business and healthcare organizations. In January, CCN reported that three banks and a pharmaceutical company in India had been targeted by a ransomware scheme with the...

A First In Denmark: Miner Buys House With Bitcoin Using Coinify

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Bitcoin denmark

Coinify APS, a Denmark-based blockchain currency payment provider, is facilitating the first real estate purchase in Denmark using bitcoin. Coinify processed a transaction worth 117 BTC (290,000DKK, $50,000 USD). The Just-Sold group real estate agency signed up for a Coinify merchant account at the buyer’s request to accept the blockchain payment. The purchase was in process at this report...