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Thieves steal 45 million Euros from crypto exchange

Unknown offenders attacked a popular cryptocurrency exchange and withdrew coins from the currency Ethereum.

The South Korean crypto exchange Upbit has confirmed that 342,000 Ethereum coins worth almost US$ 49 million (€ 45 million) were transferred from their wallet to an "anonymous" wallet on November 27, so the money was stolen. and payments stopped and all reserves moved to offline wallets.

Upbit has announced that it will compensate all damaged customers out of its own pocket. However, it will take about two weeks for the page to work as usual. Until then, all transfers are stopped, as Engadget reports.

Upbit urged customers to block the wallet in question for which the money was flowing. But the owner is completely unknown. These could be external criminals or insiders. It cannot be ruled out that this is a state attack. There have been several reports in the past of attacks on Bitcoin exchanges in North Korea.


Massive suspicion of manipulation against Bitcoin course 2017

New storm clouds are brewing over the global digital currency Bitcoin. A study by US financial economics professors John Griffin (University of Texas) and Amin Shams (Ohio University) is now fueling the suspicion of a massive manipulation of the Bitcoin course in 2017, where the value of a Bitcoin has risen to nearly $ 20,000.

Financial professors John Griffin and Amin Shams, lecturers at the University of Texas and Ohio State University respectively, analyzed over 200 gigabytes of data about the transaction history between Bitcoin and Tether, another digital currency. Tether is an asset known as "stablecoin" whose trading value is (partially) linked to the US dollar. The study of the professors revealed that the tethers traded against bitcoins had a mysterious pattern.

"We find that the identified patterns are not present in other streams - and almost all of the price impact can be attributed to a major player", wrote Griffin and Shams. "We map this data across both blockchains and find that a large player is behind most of the patterns we document". The manipulation occurred when Bitcoin rose to an all-time high of nearly $ 20,000 in late 2017, according to the study. Griffin and Shams were able to trace the data clusters back to a source. According to the two professors, it is "a big account at Bitfinex", one of the world's leading digital currency exchanges. The Wall Street Journal first reported the results of the updated study in early November.

The study is another setback for the crypto market. Just recently, a report from investment firm Bitwise revealed that 95 percent of all trading volumes in Bitcoin exchanges are fictitious.

"Big Player" should have dominated price history with transactions

The two financial analysts had analyzed more than 200 gigabytes of transactional data, focusing on the two digital currencies Bitcoin and Tether and the trading history between them.

The trading pattern suggests, according to Griffin and Shams, that the course of the Bitcoin in 2017 in correspondence with Tehter could be assigned to a single "big player". The starting point could be a large account at Bitfinex, one of the leading digital currency exchanges, for alleged price manipulation.

As if that were not enough, other studies also tinker with digital money transactions. A recent study by the investment house Bitwise suggests that 95 percent of trading volumes on Bitcoin exchanges are not genuine.

The study comes after an analysis published in March found that 95% bitcoin spot trading is faked. The survey, created by cryptocurrency asset manager Bitwise for the SEC, found that only $273 million of about $6 billion in average daily bitcoin volume was legitimate.



Gigantic mining botnet unmasked

Includes 500,000 infected machines used to mine cryptocoins (without user knowledge).

The hacker group "Stantinko" already attracted attention with one of the largest botnets in the world due to the theft of credentials, fraud and the manipulation of banners. Researchers at security researcher Eset have recently discovered a new business model for botnet operators: cryptomining on more than 500,000 computers. So that their machinations remain undetected, they camouflage their malicious program on the infected machines. If the person in question opens the Task Manager or if the affected device goes into battery mode, the coinminer from Stantinko shuts itself off and remains invisible.

To conceal the communication, the malicious program works with proxies whose IP address is determined from the description text of Youtube videos. This technique is very sophisticated, because visiting the video platform is not uncommon. Youtube got informed and deleted the videos.

Not surprisingly, the criminals behind Stantinko are looking for new ways to further increase their financial profits through the botnet. Cryptomining is more profitable and harder to track than its old core adware business. With more than half a million infected computers, the cybercriminals will be attracting lucrative revenue. However, the new scam has the disadvantage that the mining of cryptocurrencies consumes enormous system resources, It makes even the opening of the browser a game of patience. Here, the criminals try tricky ways to go to disguise the malicious program from ordinary Internet users. Where previously advertising was only intrusive, the new mesh interferes with even the simplest work.


No digital dollar from the Fed

State digital money can certainly have its meaning, said the head of the US Federal Reserve. He sees demand for it in other countries rather than in the USA.

Digital dollars are a solution to finding a problem - at least for the US and according to Jerome Powell, chairman of the US Federal Reserve. Digital central bank currencies may be beneficial in some countries around the world, but if they are "relevant in the US context" is another question. Powell had written on Nov 19, 2019 in a letter to two congressmen.

"Overall, we observe that characteristics that make the development of a central bank digital currency more immediately compelling for some countries differ from those of the U.S.", he wrote. The head of the central bank responded to a letter sent to him by the two representatives in October. In it they asked a series of questions, including plans for the issue of such a currency.

What are these features? Some countries, Powell argues, may well think about the introduction of digital central bank currencies because they have experienced a "quick turn away from cash". This is worrisome for central bankers because government provision of notes and coins ensures them a direct presence in the consumer payments market. Completely abandoning this area, they fear, could create new risks for individuals and the economy.

But in the US, Powell reports, demand for physical money is "still robust". Consumers used cash for 26 percent of their payments during 2018, four percentage points less than the year before (debit and credit cards were 28 percent and 23 percent, respectively).

Another reason some countries think about digital central bank currencies, according to Powell, is that they "lack fast and reliable digital payment services." The US payment landscape, on the other hand, is "highly innovative and competitive" and offers consumers many options.

You do not have to follow Powell's argument - in fact you could say that not even his own bank does that. Unlike many other countries worldwide, the US does not have a widely accessible bank-to-bank system. With the Fed's current system, settlement can take several days, and it's closed on weekends. Although a group of large commercial banks have set up a real-time payment platform, many smaller banks in the country still do not have access to it. The Fed has therefore decided to develop a new public platform. However, the FedNow project is not expected to be completed before 2023 or 2024.

In the world of financial technology, things are changing fast - maybe state-of-the-art payment technology will look strong in four years like the digital currencies of today. But even if the Fed ever wanted to issue a digital currency, according to Powell, some important questions would have to be clarified beforehand:

  • Would retailers be required to accept them?
  • What impact would it have on financial stability?
  • What are the security risks?
  • If the system is to detect illegal activity, how private can it be?
  • Should the central bank open accounts for millions of normal consumers?

What shone in Powell's letter by absence was the topic of China. The private digital payment platforms WeChat Pay and AliPay have already become ubiquitous and are expanding into many other countries. China itself hints at wanting to launch "a digital currency" soon, which would make it the first major economy with such a currency. According to representatives of the People's Bank of China, the currency will be compatible with WeChat Pay and AliPay. Some also expect China to see its digital yuan used as an international reserve currency. Currently, the world's most important reserve currency is the US dollar.

A digital dollar may not be forthcoming, but the Fed is keeping an eye on the situation with digital currencies. As Powell says, she also closely monitors the Facebook-proposed cryptocurrency Libra. "We also continue to do our own research, including small-scale technology experiments designed to gain hands-on experience", writes Powell. "These activities enable the Fed to respond more quickly to rapid developments in the field."



BTC Exchange is breaking the data protection law from the most countries

The joke of the century is that is hiding their domain registration behind a privacy protection service, but they like to collect as much data as possible from their customers.

Apparently, their greed for data also hinders their thinking. A company that offers its services to customers around the world, breaking the local data privacy laws of most countries, is untrustworthy. Such companies are not suitable for an international business.

Such companies believe in their megalomania to be above the local laws. How else would it be necessary for customers to turn to the local authorities for conflict resolution?

Actually are listed 17 complaints at the Better Business Bureau against

Customer Complaints Summary
17 total complaints in the last 3 years
of those, 10 complaints were closed in last 12 months

The most of the available complaints are about unauthorized access to banking accounts. In my opinion are the responsible people from a case for the prosecutor.

As the above problems are not enough is getting found an entry at the Forex Blacklist:

Feb 23, 2018: The CSSF in Luxembourg issues a public warning against Uphold - - physical address not available

The Commission de Surveillance du Secteur Financier (CSSF) issues a warning to the public concerning the website where an entity named Uphold pretends to act “with regulatory coverage with CSSF in Luxembourg”. The CSSF informs the public that the entity Uphold is not regulated by the CSSF and that it has not been granted any authorisation to provide financial or payment services in or from Luxembourg.

If you have read the complaints from the official authorities, then the complaints from private parties are very credible too.

Among many others you will find the following complaints against on

Additional negative reviews about can get found at:

Basically, for me, all complaints are looking like someone wants to enrich themselves at the expense of others. I can not imagine that you can trust such commercial dilettantes. Who will be so stupid and order from them a cryptocoin wallet?

Yesterday I have tried it by myself to get a wallet from I have stopped as soon I have seen that this data collector likes to get copies from real world documents. So more than a verified gmail address they did not get from me. Afterwards I tried to get the already entered data according the European data protection law deleted. Since already more than 14 hours I did not get any confirmation that my data got deleted. You can see that you don't have any anonymity by using cryptocurrencies! Anyway, I have used one address, which I have not used and will not use at any other place. I'll get informed as soon as this address is getting used and will make the illegal data collector in front of the law court responsible any illegal use according the European Data Protection Law. There is no difference found in this law if the data got stolen or simple misused. In both cases the company gets prosecuted.

Domain registration from

Domain Name: UPHOLD.COM
Registry Domain ID: 3233198_DOMAIN_COM-VRSN
Registrar WHOIS Server:
Registrar URL:
Updated Date: 2018-10-23T15:50:30Z
Creation Date: 1998-02-07T05:00:00Z
Registrar Registration Expiration Date: 2023-02-06T05:00:00Z
Registrar:, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email:
Registrar Abuse Contact Phone: +1.4806242505
Domain Status: clientTransferProhibited
Domain Status: clientUpdateProhibited
Domain Status: clientRenewProhibited
Domain Status: clientDeleteProhibited
Registry Registrant ID: Not Available From Registry
Registrant Name: Registration Private
Registrant Organization: Domains By Proxy, LLC
Registrant Street:
Registrant Street: 14455 N. Hayden Road
Registrant City: Scottsdale
Registrant State/Province: Arizona
Registrant Postal Code: 85260
Registrant Country: US
Registrant Phone: +1.4806242599
Registrant Phone Ext:
Registrant Fax: +1.4806242598
Registrant Fax Ext:
Registrant Email:
Registry Admin ID: Not Available From Registry
Admin Name: Registration Private
Admin Organization: Domains By Proxy, LLC
Admin Street:
Admin Street: 14455 N. Hayden Road
Admin City: Scottsdale
Admin State/Province: Arizona
Admin Postal Code: 85260
Admin Country: US
Admin Phone: +1.4806242599
Admin Phone Ext:
Admin Fax: +1.4806242598
Admin Fax Ext:
Admin Email:
Registry Tech ID: Not Available From Registry
Tech Name: Registration Private
Tech Organization: Domains By Proxy, LLC
Tech Street:
Tech Street: 14455 N. Hayden Road
Tech City: Scottsdale
Tech State/Province: Arizona
Tech Postal Code: 85260
Tech Country: US
Tech Phone: +1.4806242599
Tech Phone Ext:
Tech Fax: +1.4806242598
Tech Fax Ext:
Tech Email:
DNSSEC: signedDelegation
URL of the ICANN WHOIS Data Problem Reporting System:
>>> Last update of WHOIS database: 2019-11-14T13:00:00Z <<<