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Alleged Bitcoin Thief in Dark Web Phishing Scheme Arrested

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Russia Hackers Arrest

A man accused of stealing bitcoin from darknet marketplace accounts after tricking users to reveal their credentials via a phishing scheme has been arrested and sees multiple marches.

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Michael Richo, a 34-year-old from Wallingford, Connecticut was arrested yesterday by the FBI following a criminal complaint against him.

The complaint alleges that Richo devised an online phishing scheme to steal bitcoins from several individuals on the dark web, according to a notice by Department of Justice (DOJ).

Richo’s phishing scheme saw at least 10,000 stolen usernames and passwords saved on his computer, the complaint alleges.

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Lucrative Phishing Hole

Targeting an ecosystem that sees Bitcoin as its primary currency, Richo allegedly posted fake phishing links within online marketplaces on dark web forums. As any good phishing scheme, the links redirected unfortunate individuals to a fake URL and a legit-enough login page, where users entered their credentials. This information was then accessible by RIcho, who was able to access the victims’ marketplace accounts with their stolen credentials.

bitcoin-wallet

According to the complaint, Richo then monitored the balances of accounts he compromised, before withdrawing any bitcoins deposited by the targeted individual into the account. The stolen bitcoins were then deposited into Richo’s own bitcoin wallet.

Richo then sold the bitcoins to others for fiat U.S. dollars, which was deposited into a bank account that Richo had control over.

The complaint laid out a number of charges including access device fraud, computer fraud, wire fraud, identity theft and money laundering.

Following his arrest yesterday, Richo was released on a $100,000 bond on the same day.

If convicted across a number of charges, the maximum term of imprisonment for each charge were revealed to be 20 years for money laundering; 20 years for wire fraud, 10 years for access device fraud, five years for computer fraud and; a mandatory term of two years for aggravated identity theft.

Earlier this year, the DOJ revealed its first ever bitcoin-related case where one man was charged with operating an unlicensed money transmitting business, with two others charged with money laundering and other related infringements.

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  1. DougNJ

    October 6, 2016 at 6:19 pm

    “,,, has been arrested and sees multiple marches.”; Do the crime, do the Long Marches, like in N. Korea.

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Analysis

Long-Term Cryptocurrency Analysis: Bitcoin Flirts with $8000 as Altcoin Bull Persists

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Bitcoin’s swift recovery was the main topic of the week, as the most valuable coin not just regained its steep losses, but hit a marginal new high towards the end of the period. The entire segment is experiencing capital inflows as the total value of the coins climbed above $230 billion for the first time ever after finally leaving the vicinity of the $200 billion mark.

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BTC breached the $8000 level before turning slightly lower on Friday, but despite the severely overbought daily chart, it is still trading near its all-time highs. As the long-term picture still suggests a deeper correction, investors should wait with opening new positions and traders should also control position sizes here. Key support levels are found at $7700, $7000, and $6700, while the recent key break-out level at $5000 still hasn’t been re-tested.

BTC/USD, Daily Chart Analysis

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Dash is still the most bullish altcoin from a technical standpoint, despite this week’s short-term correction, as the coin is trading above its prior all-time high, and this weekend, it looks ready to test the break-out high near $500. Support levels are still found at $400, $360, and $330, and as the long-term picture is approaching overbought territory, investors should only hold on to their positions here.

DASH/USD, Daily Chart Analysis

The other major altcoins are also mostly in bullish setups, with some of them already in the latter stages of this cycle, like Monero and IOTA, but elsewhere in the segment, there are still opportunities for both traders and investors. Let’s see the detailed long-term view.

(more…)

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Analysis

Technical Analysis: Litecoin and NEO Jump as Bitcoin Trades near $8000

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The cryptocurrency segment continued its bullish run, as the total value of the coins climbed above $230 billion for the first time ever, while Bitcoin also posted marginal new highs. The most valuable currency is still overbought regarding the long-term picture, and we continue to expect a deeper correction in the coming period, despite the recent strong rally. Support levels are still found $7700, $7000, and $6700 while the $8000 level is ahead as a major obstacle.

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BTC/USD, 4-Hour Chart Analysis

Litecoin has been the most active major besides Bitcoin, as it rallied strongly after breaking out above the key $64 resistance and it breached the next target at $75 before heading below $70 again. The coin remains in bullish long- and short-term patterns, and we expect a move above the major resistance zone ahead with the next target found at $82.50.

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Litecoin/USD, 4-Hour Chart Analysis

NEO is showing strength in the second half of the session, while Monero is recovering well from a short-term dip, similarly to IOTA and Ethereum Classic. Ethereum continues to represent stability in the segment, while Ripple failed to build up momentum so far after yesterdays spike higher. With still most of the altcoins being in bullish setups, let’s see the short-term charts.

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Analysis

Technical Analysis: Ripple Breaks Out as Bitcoin Tests Highs

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Cryptocurrencies are having another bullish session as the total value of the market surged to a new all-time high near $225 billion, with the help of the rally in BTC and Ripple, and despite the drop in the value of Bitcoin Cash. The most valuable coin its record high yet again after the brief but steep weekend correction, despite the still overbought long-term picture. We still urge traders and investors to wait for a deeper correction before entering new positions here, with support levels found at $7000, $6700, and $6000.

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BTC/USD, 4-Hour Chart Analysis

Ripple has been the other main mover of the day so far, as the coin skyrocketed on huge volume and breached the $0.26 level before turning lower and stabilizing near $0.23. The coin triggered a short-term buy signal by moving above $0.2250 and it remains bullish on both time-frames, despite the pull-back, with another major target level ahead at $0.30.

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Ripple/USD, 4-Hour Chart Analysis

The other majors are little changed expect IOTA, which further added to yesterday’s gains and reached overbought readings, while Ethereum Classic and Dash continue to drift lower in short-term correction patterns. Let’s see the detailed analysis of the short-term charts.

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