Bitcoin
Feds and Chainalysis reveal $169 million worth of Bitcoin controlled by the 911 S5 botnet
Blockchain forensics firm Chainalysis discovered $169 million worth of Bitcoin connected to the 911 S5 botnet, facilitating the arrest of Chinese citizen Yunhe Wang.
Crypto Analysis Company Chainanalysis tracked $169 million in Bitcoin linked to the notorious 911 S5 botnet, a revelation that played a crucial role in the recent arrest of Yunhe Wang, a Chinese national allegedly involved in controlling the botnet.
On a blog postthe New York-based company said the botnet’s illicit operations allowed it to generate substantial revenues through encryption signatures sold to cybercriminals involved in activities such as password spraying attacks, financial fraud, identity theft and child exploitation.
“911 S5 was a service that provided residential proxy services, often to bad actors who often paid for these services in cryptocurrencies like Bitcoin.”
Chainanalysis
Despite voluntary closure in July 2022, 911 S5 has retained significant funds in the network. Working alongside agents from the Defense Criminal Investigative Service, Chainalysis discovered deposit addresses on centralized exchanges and other parts of the botnet’s financial ecosystem.
The 911 S5 Cryptographic Address Network | Source: Chainalysis
According to the company, at least one cold storage wallet associated with the 911 S5 contains 4,322.25 BTC, worth approximately $169 million. Chainalysis says the wallet also has connections to several crypto mixers and a Russian Bulletproof hosting provider Black Host previously associated with ransomware strains like Dharma and Phobos.
Further analysis revealed that funds from this wallet were transferred to addresses controlled by Wang, some of which were flagged by the Office of Foreign Assets Control. According to Chainalysis, US authorities were able to identify 49 addresses linked to the malicious network.
Leveraging blockchain transaction data, investigators also discovered previously unknown addresses on the TRON blockchain, exposing a wider network of 911 S5 wallets. While the scale of the 911 S5 network on TRON remains unclear, it is clear that the identified assets have not yet been seized, with US law enforcement agencies monitoring their movements.
Bitcoin
Big Tech Outperforms Bitcoin (BTC) as Trump Deal Weakens Token
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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Bitcoin
Why Trump Wants the US Government to Have a “National Stockpile” of Bitcoin
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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