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Egypt: Crypto Miners Arrested for Mining and Trading Cryptocurrency

M. Ali

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Egyptian security forces arrested on Wednesday two men for allegedly setting up and operating Bitcoin mining farms, cryptocurrency trading, fraud, forgery and money laundering.

Arabic-language Egyptian news magazine Al-Mal reported the details of the arrest on September 5th. According to its article, Egyptian police seized the mining hardware and made arrests in Al-Nozha Area, Cairo.

Mining hardware seized by the Egyptian Authorities

The “Gang” confessed that they were exchanging Bitcoin for the amount of 170 thousand pounds per coin in a violation to the Egyptian law.

The Central Bank of Egypt is currently working on a draft law for cryptocurrency related activities and banned creating, promoting or operating platforms for issuing or trading encrypted currency or cryptocurrency without obtaining the necessary licenses in advance.

Last month, Central Bank of Egypt revealed that it might issue its own cryptocurrency to be used withing the Egyptian government.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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Bitcoin

Now You Can Earn Free Bitcoin When Shopping With Alibaba Online

Sying Tien

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Now you get up to 5% of your purchase back when you shop with Alibaba. This made possible through a recent partnership agreement between the online retailer giant, Alibaba and Lolli Bitcoin shopping rewards app.

“I’m excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin back to its shoppers. This is a milestone partnership for Lolli as Alibaba is the largest retailer and e-commerce company in the world, launching on Single’s Day, the world’s largest shopping day of the year. Our partnership allows our users to earn free bitcoin on millions of products online every day. Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce.”

CEO and Co-founder of Lolli, Alex Adelman, said

Lolli is the first bitcoin rewards application that lets people earn & own bitcoin when they shop online. Lolli has partnered with 500+ top brands to help drive sales and conversions on their sites. Lolli’s users can earn Bitcoin by using Lolli after activating and making a qualified purchase on one of Lolli’s merchant partner sites.

The Chinese e-commerce giant Alibaba made yesterday 91.2 billion yuan ($13 billion) in sales during the Singles’ Day event. According to Statista, the annual revenue of Alibaba in 2018 was 250 billion yuan and its estimated be reach 376 billion yuan in 2019.

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Video: Roger Ver Paying Dividends on Blockchain is Game-Changing

June G. Bauer

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Bitcoin.com’CEO Roger Ver and one of the first investors in bitcoin and bitcoin related startups talks about why he thinks a new tool to pay dividends on blockchain to anonymous bearer shares is game-changing and answers questions.

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Bitcoin

A Backdoored Tor Browser is Being Used to Steal Bitcoin From Tor Users

June G. Bauer

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A trojanized version of the Tor Browser is currently targeting Russian users to steal their Bitcoin funds. This was discovered by ESET security researchers.

When victims try make any Bitcoin transactions, the Backdoored Tor browser will automatically replace the original destination address with another address controlled by criminals.

The attackers are promoting their trojanized version of the Tor Browser through posting spam message on some popular Russian cryptocurrency websites to encourage victims to download and use the infected browser. Two domain names are used to distrubute the infected browser tor-browser[.]org and torproect[.]org

At the moment of publishing, the cryptocurrency wallets controlled by the attackers received 863 transactions worth of $40,000 in Bitcoin cryptocurrency.

Example of spam message promoting tor-browser[.]org . Image credit: welivesecurity.com

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