Tag Archives: World news

Bitcoin price plunges after cryptocurrency exchange is hacked

Security fears rise as South Koreas Coinrail loses about 28m of virtual currency There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend. The worlds best-known cryptocurrency lost $500 (372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses. The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets. Coinrail later said in a statement […]

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Millennials, technology will not save your generation

The second dotcom boom may seem like a way for money to flow from older, richer people to talented young entrepreneurs. But its not worked out that way Picture a startup founder. Chances are you went straight for a Mark Zuckerberg-type: male, white, nerdy and, above all, young. Zuckerberg founded Facebook in 2004, three years after the collapse of the dotcom bubble, at the age of 20. Twelve years later, the company he founded is worth $270bn, and the tech world is in the middle of a […]

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WannaCry ransomware has links to North Korea, cybersecurity experts say

Similarities spotted between details of last weeks massive cyber-attack and code used by a prolific cybergang with links to North Korean government Two top security firms have found evidence linking the WannaCry ransomware to the prolific North Korean cybergang known as Lazarus Group. Kaspersky and Symantec both said on Monday that technical details within an early version of the WannaCry code are similar to code used in a 2015 backdoor created by the government-linked North Korean hackers, who were implicated in the 2014 attack on Sony Pictures […]

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Iceland election: tight race to form government as counting begins

Early tallying shows ruling coalition led by Independence party vying to hold on to power against challenge from Pirate alliance Initial counting after polls closed in Icelands election put neither the ruling Independence partys centre-right coalition nor the Pirate partys leftist alliance in a position to secure outright victory. With roughly one-third of votes counted, support for the mainstream centre-right coalition particularly Independence stood at more than 40%, translating to 27 MPs in Icelands 63-seat parliament. The opposition alliance had around 43%, giving 29 MPs. That could […]

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Man buys $27 of bitcoin, forgets about them, finds they’re now worth $886k

Bought in 2009, currency's rise in value saw $27 turn into enough to buy an apartment in a wealthy area of Oslo. By Samuel Gibbs The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian mans $27 investment turned into a forgotten $886,000 windfall. Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer […]

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Massive ransomware cyber-attack hits nearly 100 countries around the world

More than 45,000 attacks recorded in countries including the UK, Russia, India and China may have originated with theft of cyber weapons from the NSA A ransomware cyber-attack that may have originated from the theft of cyber weapons linked to the US government has hobbled hospitals in England and spread to countries across the world. Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt. In Spain, major companies including telecommunications firm Telefnica […]

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NHS seeks to recover from global cyber-attack as security concerns resurface

Cybersecurity centre says teams working round the clock to fix systems rendered inaccessible by international ransomware attack The NHS is working to bring its systems back online after it became the highest-profile victim of a global ransomware attack and faced renewed concern about the strength of its infrastructure. The National Cyber Security Centre (NCSC) said teams were working round the clock in response to the attack, which resulted in operations being cancelled, ambulances being diverted and documents such as patient records made unavailable in England and Scotland. […]

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Australian Craig Wright claims he is bitcoin founder Satoshi Nakamoto

The 45-year-old IT and security consultant has reportedly provided evidence to the BBC supporting his claim that he is the inventor of the cryptocurrency Australian entrepreneur Craig Wright has identified himself as Satoshi Nakamato, the pseudonymous creator of the digital currency bitcoin. Wright, who was named as the cryptocurrencys founder by two separate media investigations in December, made the admission in a blog post on Monday, providing what he says is technical proof of his claim. He also provided evidence to the BBC, reportedly including the use […]

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Why we should fear a cashless world | Dominic Frisby

Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance The health food chain Tossed has just opened the UKs first cashless cafe. Its another step towards the death of cash. This is nothing new. Money is tech. The casting of coins made shells, whales teeth and other such primitive forms of money redundant. The printing press did the same for precious metals: we started using paper notes instead. Electronic banking put paid […]

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Bitcoin price soars above $5,000 to record high

Rising price of the cryptocurrency, now worth four times as much as an ounce of gold, has led to warnings of a bubble The price of bitcoin has smashed through $5,000 to an all-time high. The cryptocurrency rose by more than 8% to $5,243 having started the year at $966. Bitcoin has soared by more than 750% in the past year and is worth four times as much as an ounce of gold. But the price has been volatile. The digital currency plunged below $3,000 in mid-September […]

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